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re: I'm a YNAB geek.
Posted on 1/6/17 at 12:32 pm to Hawkeye95
Posted on 1/6/17 at 12:32 pm to Hawkeye95
quote:
my wife isn't too bad with the spending, she just won't bother to track it. She does have a bit of a clothing problem but currently does thrifting (or personal thrift store shopper) for most of it, so its only like $50/month.
It's not that I can't get my wife to stop spending, it's just that she has no larger picture views of financing.
For example, if she tells me she needs to get some stuff at the mall, she might ask me how much she can spend. I'll give her a number like $130 and she'll come back with receipts that total $211. I ask her why she went over the amount we agreed on and she says they had a sale too good to pass up
Then she wonders why it's a big deal because we have more than $211 in our checking account 
When we got married 2 years ago, I was working a job making $30K a year with no benefits and she was finishing school. We moved to Dallas shortly after getting married and had basically nothing when we got here. Now, we both have professional jobs. The allure of having disposable income to buy nicer things is wearing off and now we are just a couple in our mid 20s trying to figure out how to secure our financial future.
1
Posted on 1/6/17 at 1:40 pm to Hawkeye95
quote:
my wife isn't too bad with the spending, she just won't bother to track it.
That's my deal basically. My wife isn't a spender, but she doesn't care to look at Mint or anything, so we butt heads when for instance, she spends money after being thrifty for a while. She sees no problem, but I know we were overbudget somewhere else and needed to gain some ground back. That sort of thing. I'm just thankful that overall, she's pretty cheap for a woman.
This post was edited on 1/6/17 at 1:41 pm
Posted on 1/6/17 at 2:24 pm to tlsu15
quote:
Then she wonders why it's a big deal because we have more than $211 in our checking account
This is why I like ynab. I rarely look at how much I have in the checking account. I look at how much I have in my category.
Posted on 1/6/17 at 2:32 pm to anc
quote:
. I got my head out of the sand, paid the stupid debt off. 2. I got on a realistic budget and started using YNAB. 3. I started learning how to invest. 4. I'm saving nearly 40 percent of my income. Compound Interest is the best thing in the world.
Thanks for the reply. From negative to +500,000 in four years is impressive. Congrats. My wife and I thought we were doing good to get to 25% contribution rate to our 401Ks. I think the trick is increase your savings / retirement funding every time you get a raise. If I got a 5% raise I would bump my retirement funding 2 or 3%. We never missed the money. My wife is very frugal but she is not savvy financially. I am fortunate that we pretty much agree on saving and spending habits.
Posted on 1/6/17 at 2:47 pm to PlanoPrivateer
sounds like voodoo...... with envelopes
Posted on 1/6/17 at 3:10 pm to Jimmy2shoes
ok, i'm going to give it a try. unfortunately my bank isn't available to link directly so i'll just have to upload the files (no problem).
question: how do i handle things that i either a) split with someone else or b) purchase with the intent to resell, c) how do i budget for non-monthly expense?
example of A is if i spend $200 on a gift for my mom that's half from me and half from my sister? do i recognize the $200 cost then try to remember to capture $100 income later? do i only recognize $100? Usually on transactions like this, i get repaid in cash and just stash that into a slush fund envelope.
example of B is i buy my lsu tickets every year and sell them outright. it's a $0 balance item over a whole year. do i budget $0 knowing it will wash?
example of c) i pay car insurance semi-annually, pay property taxes and homeowners annually. Do i put 1/12 the total in per month?
question: how do i handle things that i either a) split with someone else or b) purchase with the intent to resell, c) how do i budget for non-monthly expense?
example of A is if i spend $200 on a gift for my mom that's half from me and half from my sister? do i recognize the $200 cost then try to remember to capture $100 income later? do i only recognize $100? Usually on transactions like this, i get repaid in cash and just stash that into a slush fund envelope.
example of B is i buy my lsu tickets every year and sell them outright. it's a $0 balance item over a whole year. do i budget $0 knowing it will wash?
example of c) i pay car insurance semi-annually, pay property taxes and homeowners annually. Do i put 1/12 the total in per month?
Posted on 1/6/17 at 3:33 pm to Teddy Ruxpin
quote:
That's my deal basically. My wife isn't a spender, but she doesn't care to look at Mint or anything, so we butt heads when for instance, she spends money after being thrifty for a while. She sees no problem, but I know we were overbudget somewhere else and needed to gain some ground back. That sort of thing. I'm just thankful that overall, she's pretty cheap for a woman.
I am super thankful that she is cheap. I scored, although a bit of it was my pressure and hey - why not retire at 45. I think if she would track her spending, she would definitely adjust her patterns. But she won't.
We have been doing budgeting for 20 months now, very rigorously for 11. On Feb 1, we will review our spending categories so she gets a feel for what we are spending.
She has a hard time looking at trade offs across categories. For instance, why can't we do a 3 day weekend? Well, we spent $200 last friday on dinner.
This post was edited on 1/6/17 at 3:35 pm
Posted on 1/6/17 at 4:29 pm to poochie
also, i've downloaded my transactions since 7/1/16. Should i be going back like that to create a baseline or start from 1/1/17?
Posted on 1/6/17 at 6:27 pm to poochie
The general advice from ynab is start with today. Just set up your accounts and then start recording transactions. Budget based on your current balance.
Posted on 1/6/17 at 8:32 pm to anc
quote:
I'm a YNAB geek.
If you want to geek out about something, would it be too much out of your way to actually say what it is instead of counting on just abbreviations??? I already googled it but if you start a topic, it would enhance your topic if you said what it stands for. Thanks
Posted on 1/6/17 at 8:56 pm to 6R12
quote:
If you want to geek out about something, would it be too much out of your way to actually say what it is instead of counting on just abbreviations??? I already googled it but if you start a topic, it would enhance your topic if you said what it stands for. Thanks
YNAB is the commonly used name of the software. It is routinely discussed on here as one of the best personal finance options.
Spelling it out would be akin to me saying the Louisiana State University football game will air on the Columbia Broadcast System. I plan to watch it on my Radio Corporation of America high definition television. Maybe when we are done, someone will make a funny graphics interchange format file and post it on the world wide web. Next week we can go diving using a self contained underwater breathing apparatus.
This post was edited on 1/6/17 at 9:04 pm
Posted on 1/6/17 at 8:57 pm to anc
So that's what CBS stands for
Posted on 1/6/17 at 8:59 pm to poochie
quote:
also, i've downloaded my transactions since 7/1/16. Should i be going back like that to create a baseline or start from 1/1/17?
You will get frustrated if you go back that far. Start fresh from 1/1 and use it moving forward.
As far as tracking - I would budget $100 for the gift, go over budget, and apply the $100 you receive toward it. I'd treat it essentially the same as a merchandise return. Its technically money coming in, but it needs to be applied to a budget line rather than inflow.
Posted on 1/6/17 at 9:47 pm to anc
So you went thru all that to NOT tell me what the abbreviation of app was? I would expect dismissal and stupid from the Rant, not here. I enjoy scuba by the way. But thanks anyway.
Posted on 1/6/17 at 10:01 pm to 6R12
quote:Exactly. So just stop.
I would expect dismissal and stupid from the Rant, not here
Posted on 1/6/17 at 10:39 pm to anc
Why would someone need YNAB? It surprises you the average American is not too bright nor can't plan nor understand how money works? Do you watch people drive while glued to their devices? People have become idiots across a wide spectrum of the population no matter what age.
Posted on 1/6/17 at 11:08 pm to 6R12
quote:You mean the abbreviation you said you had already googled the post before this?
So you went thru all that to NOT tell me what the abbreviation of app was?
Either you still couldn't figure it out when many others have or you did figure out and playing dumb, dumbass.
Posted on 1/7/17 at 10:57 am to tirebiter
quote:
Why would someone need YNAB? It surprises you the average American is not too bright nor can't plan nor understand how money works? Do you watch people drive while glued to their devices? People have become idiots across a wide spectrum of the population no matter what age.
You can use a pen and paper, an Excel sheet, or software. You can just wing it. I've done it all. I just prefer the YNAB system, just as many on the White Coat Investor do (doctors, attorneys, engineers, PhD's and other highly educated professionals)
My in-laws think that using a budget means you are poor. Society has made us think that budget = frugal. Budgeting is just smart personal finance. I rail on Dave Ramsey, but he's right that every person/family needs a budget.
My in-laws are facing retirement with nothing, despite making six figures for the last 15 years. They have about $7,000 saved for retirement, and have refinanced their house so many times that they will end up paying 40 years (if they don't refinance again). They also couldn't tell you how much they spend on anything.
We see our money all the time. I can give you a ballpark on anything, and to the penny with a couple of clicks of my phone. I am also on track to have north of $4MM at retirement, my kids have accounts for college, weddings, and first vehicles. Vacations are always fully funded.
My surprise is how bad the situation is. My six year old has $1000 in the bank. But 7 in 10 adults don't?
This post was edited on 1/7/17 at 11:00 am
Posted on 1/7/17 at 11:14 am to geaux.home
I did figure it out, but it would be easy to just put it in the original. Yall can keep taking up for him but he would have served the thread well to post what it meant and then abbreviate all he wants afterwards. That's all im saying.
Posted on 1/7/17 at 12:21 pm to 6R12
quote:
I did figure it out, but it would be easy to just put it in the original. Yall can keep taking up for him but he would have served the thread well to post what it meant and then abbreviate all he wants afterwards. That's all im saying.
But you are still missing the point. If we were in the bar talking about it I would call it YNAB (pronounced y-nab, not Y-N-A-B). I wouldn't say you need the software called "You Need a Budget."
YNAB has been discussed regularly on here. The regulars know what it is. My apologies for any confusion it may have caused you.
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