Simple Business Budgeting Using YNAB: Complete Step-by-Step Tutorial

[@TaraWagner]

Want to test out YNAB for your own business budget? Use my affiliate link and get a free month! xotara.us/ynab P.S. Be sure to jump on my free training, “How to Use a Holistic Approach to Create a Profitable Business Without Burning Yourself Out”. Learn more and reserve a seat here: xotara.us/training

[@DonielleMusic]

Thank you for this.

[@TaraWagner]

My pleasure!

[@kristenjohnson3422]

Great video much needed

[@TaraWagner]

Hope it’s useful!

[@lifetrail_hiking_mentoring]

Hi Tara, I discovered you today. I have enjoyed and learned from three videos so far, and you are easy to understand! Last year, I set aside weekly amounts for my public liability insurance in a bank account but spent them on surprise bills; it was frustrating not to have it there when I needed it. Also, please, when you mentioned spending no more than 30 to 40% of your income on expenditures, are you speaking of just business or also personal expenditures?

[@TaraWagner]

Personal and business should be look at through different budgets - this is geared toward biz.

[@tashashaback]

this is awesome dear

[@TaraWagner]

Thank you so much!

[@Carobcherub]

I've tried YNAB and I really liked it. I didn't like how it's now completely cloud-based, which means you have to have internet access to do your budget. Before they had application to download, which I liked.

[@TaraWagner]

Oh good to know! Yeah that would be hard while traveling. I wonder if their phone app is the same?

[@doctortoddanderson]

What do you use for book keeping? Still YNAB and just use the profit loss report? Or something else?

[@TaraWagner]

I use YNAB reports for my own personal overviews but my bookkeeper uses QBO for the actual bookkeeping and for tax time. Wave Accounting is another option that works for some businesses too and is free.

[@doctortoddanderson]

@@TaraWagner oh awesome! I’ll check Wave out! Thanks 🙏🏼

[@LaughinLoneStar]

What about putting in a category called "Savings" in your one business budget? and just fund it? I don't see the need for a separate budget for savings. Have never used one. Been doing it this way for 4 years.

[@TaraWagner]

You certainly can try it! For many of us, it's better to keep it in a separate account to create one extra barrier to getting to it so we don't dip into it very often/only when we truly need to. But not everyone finds that needed!