YNAB 101 for Teens: The Easiest Way to Start Managing Your Money

[@EdQueen]

Thanks for putting together a version for my teens! They’ll listen to someone who’s glowing with youth. 🌟

[@YNABofficial]

I will keep radiating hard as I can as long as the ticking clock of time allows me 😂 🌻 Hannah

[@daniellearnold3056]

Love this! We use YNAB for our 8 and 6 year old’s allowance; they LOVE filling it on the first of the month, changing their emoji, and keeping track of personal spending. All “wants” come out of their own line and in just a few months, I see incredible decision making happening! I want them to have wins and failures/challenges with really low stakes from a super young age… love YNAB! Can’t wait until we’re at this point!

[@YNABofficial]

SO CUTE!! I love that, especially the ever-changing emoji 😂 AMAZING that you have a 6 year old who financially plans and saves for their priorities. I can only hope the same for my kids one day!! Love the desire for low stakes lessons at a young age-that's certainly a great way to do it, when it's over lego sets and not mortgage payments 😂 🌻 Hannah

[@sherrylynnbishop8007]

I loved the way you explained the four rules and the yellow (not fully funded) fun money category after $5 was taken out. I think the way you explained it isn't just for TEENS, but there are a lot of adults that would benefit from your explanation. As usual, another great video Hannah! I watched it even though I am not a teen, do not have a teenager in my home, and my grandson is not yet a teenager. I watched it just to spend time with YOU!

[@YNABofficial]

Haha! I LOVE that you watched the whole thing!! Thanks so much for the feedback! It was sure a challenge to explain both the app AND the four rules in under 30 minutes, but I got most of it in! Proud of that! 😂 🌻 Hannah

[@judymccarver5833]

We started all 3 of our daughters on budgeting their allowances in high school. And then introduced YNAB in college. Disclaimer. And full transparency: just because we were YNAB nerds and completely locked into the budget program, this did not assure a ready acceptance on our girls’ part. But, in any case, we took advantage all of the free college account for all of them, kept encouraging them, AND constantly modeled for them the value of both YNAB budgeting and good financial habits. So our oldest daughter started strong early. But our middle was half hearted until she graduated and stared a new job. Our youngest did more fresh restarts then I can count. But we kept gracefully and patiently encouraging them while At the same TIME, not bailing them out financially. NOW all three of them are budgeting and using it with skill and insider knowledge. And they appreciate the value of it. True. Moral of the story? When a little kid doesn’t like veggies, the best thing to do is just keep patiently putting it on their plate while not throwing dessert at them when they don’t eat. 90+ % of the time this is the sure method they will eat veggies later in life. Introduce budgeting to them EARLY. + Modeling. + Not throwing $ and stuff at them+ patience = Best chance your kids will budget their dollars and get the early quick start to financial success that I wish I would have had at their age! Voila. Our kids appreciate the need and value of budgeting. And they do it. Start early.

[@YNABofficial]

Oh, I would imagine it would take any person of any age a while to develop a habit or even a liking for YNAB or budgeting. It's kind of one of those "grown up things" we'd rather not have to do if we had the choice, but once it finally clicks it is a total game changer! And differently personalities latch onto YNAB at different rates-some are in love from day one, and some (like our own CTO) have to try it seven different times before it clicks and sticks for them! I can imagine it would be SO HARD to resist the desire to bail your kids out when they're in a financial rut, but there's not better problem solving strategy than to just have to make things work and figure it out. I was one of those weird kids that was super eager to be financially independent, so I didn't even consider asking my parents for a single dollar the day after I graduated high school (or really even before that, come to think of it 😂), but that wasn't the case for many of my friends! We all have different personalities and ways of learning, so consistency with your parenting is probably so vital and important! Sounds like you have a GREAT, trustworthy relationship with your kids and they're all doing pretty well for themselves now! Good inspiration for me with future kids! 🌻 Hannah

[@TamiAuzston]

My 16 year old just started his first job, this will be perfect for him because it’s not me explaining it to him.

[@YNABofficial]

Woo hoo! I gladly volunteer to be not you! 😂 🌻 Hannah

[@sommermaxwell]

Just sent this to all my friends with teens. You’re the best! Financial literacy is such an important life skill! Thank you!

[@YNABofficial]

YAY! So happy to hear it!! I agree entirely! Thanks so much for the positive feedback! 🌻 Hannah

[@traceyc7745]

Thank you!!! Just in time as the teen gets kicked to “adulting” next month, AND apparently her full time job hours got cut to 19.

[@YNABofficial]

Woo hoo!! But OH NO... even more of a reason to learn how to budget flexibly now! Hope she can get those hours back! 🌻 Hannah

[@dlbrowning9221]

You did it, Hannah!! Thank you so much!! Sending it to my son right away… ❤️

[@YNABofficial]

YAY!! Thanks for your suggestion!! I'm positive this video will help tons of teens and families for years to come! 🌻 Hannah

[@PeggyMcKenna]

Great video.......but.....If you could make an identical one using the computer rather than the phone that would be awesome. I think setting up your first budget is easier for newbies on the computer. This way people could pick one or the other to get started. Showing how the same exact budget is set up on each platform would be so helpful when teaching friends how to use YNAB.

[@PeggyMcKenna]

@@brianjameson4925 I totally agree that she did this video using the phone to reach out to the teens, which is where they live, but she did such a good job on it that I would love to send it to my older friends who mainly work on the computer. It would be so helpful either way.

[@YNABofficial]

We do have some other videos showing you how to set up YNAB start to finish on the computer! They don't have that "teen lens," but they'd work for more established folks with more bills and expenses than teens have! I'll link a helpful "getting started" video playlist below that includes a LOT more web demos! kzbin.info/aero/PLq0_N-XTl2yBC9dGE6VEY1xd1i89ua3JU 🌻 Hannah

[@PeggyMcKenna]

@@YNABofficial Thanks Hanna, I will check them out

[@UtopiaGizowski]

Just set my daughter up with her first YNAB budget. Thanks Hannah!! 🙂

[@YNABofficial]

WOO HOO! Way to go! And encouragement to your teen! 🌻 Hannah

[@dawnkoplitz1825]

Just a couple ideas for categories. If the teen is doing this on their own, not under a parent’s subscription, they’ll need to pay for it, right? Only college students get 1 year free, right? So adding a category to pay for YNAB would help them prepare for that expense. That expense could be included in a Stuff I Forgot To Budget For category, which was my other category idea that would be helpful to add. Everyone has an expense they forgot to account for.

[@YNABofficial]

Good thinking! The "Stuff I Forgot to Budget For" category can also be a great tool to indicate what other categories should be added to the budget, too! For instance, my husband likes to collect and sell disc golf discs. For about a year now he's been categorizing shipping costs to our "Miscellaneous" category. I'm embarrassed that it's taken us a whole year to make any change, but finally I just said "Maybe we should make a 'Shipping+Postage' category for all the packages you're shipping." Wouldn't have realized that was such a frequent expense for us until I was CONSTANTLY categorizing the same expense over and over again to that Miscellaneous category! It just needs it's own home since it's clearly a known (though still variable) expense! 🌻 Hannah

[@mrw108]

Sharing this with my sibling!

[@YNABofficial]

Score!! 🌻 Hannah

[@a.g.6732]

Thank you for this video! Would you consider putting back up your budgeting videos for kids. I thought the one that I saw was outstanding. But I couldn't find any more of what apparently is a series of videos for kids you may have done. (The kid's KZbin video I saw was titled 'What is a Budget? Kid Talk Edition)'.

[@YNABofficial]

Good news!! They weren't taken down, but since they're categorized as "kids content" they aren't searchable in the same way a not-meant-for-kids video would be. Here's a link to the full playlist! kzbin.info/aero/PLq0_N-XTl2yDzSlbRJmj04YXhOmsrqYtk 🌻 Hannah

[@maestralerbe]

Will YNAB have a spanish version some day?

[@jaclyndougherty3271]

Yay you made this!!!!! ❤❤❤

[@YNABofficial]

Yes!! Hopefully it can serve many teens and families to come! 🌻 Hannah

[@rockyfirewife]

Hi! Great stuff! Is there a somewhere on the website, but showing how to do this via desktop, for younger teens without access to a smartphone?

[@YNABofficial]

Hi! I'd recommend checking out our "Getting Started with YNAB" video. It shows both desktop and mobile. - Ben M 🤓

[@stephaniealex1852]

Where is the mobile reconciliation button and how to do it

[@mgrey9066]

I think that wasn't covered because there wasn't a linked account example. but on the desktop version it is usually a pretty big colored button on the top right of the screen.

[@YNABofficial]

Check out the "How To Reconcile" section and be sure to choose your operating system for specific instructions. support.ynab.com/en_us/reconciling-accounts-a-guide-BJFE3fHys

[@stephaniealex1852]

@@YNABofficial thanks- i only use my phone so I usually have to dig around to find things

[@ejn1011]

Remember when life was simple?! I wish I'd known then.

[@YNABofficial]

😂😂 When the biggest concern was, "Can I buy a shake with my friends tonight? Should I go see the new movie that just hit the theaters?" So sweet and innocent. The dream. 🌻 Hannah