Timestamps: 0:00 - Intro 0:24 - 1) Tracking money you lend to someone 5:16 - 2) Tracking money you borrow from someone 8:26 - 3) Moving accounts on/off budget 13:49 - 4) Importing historical transactions from before you started 24:24 - 5) Tracking Paycheck Deductions 31:00 - 6) Advanced Investment Tracking 36:17 - 7) Values Based Budgeting

I've used YNAB a few years back but "fell off the wagon" so to speak, but now - older and wiser, and deeper into debt - I've returned with renewed vigor. Your videos have made it clear that I need to start from the start: I've set up my budget to literally show every bill by date, and expected, undated expenses are also chronological, because that's where I'm at right now. But 😊. I'm working towards that goal-based budget, and man, that right there is so inspiring. I realize I'm probably 2-5 years away from it 😕 but just having that growth trajectory in the back of my mind motivates me to take babysteps and not rush the process. Thank you for your videos, they have been incredibly helpful with giving me context and substance on top of the more "mindset change" videos YNAB tend to put out (also helpful, but I need the geeky, "let me show you the app and how I do this very specific thing" guidance you excel at).

@mappedoutmoney

2 жыл бұрын

Totally understand that Elmi. It's really easy to fall off, but I'm glad you're coming back with a renewed sense of vigor for the budget. You're right that I would encourage you to start with the bills by date and focus on the "When" for now. But it doesn't mean you can't start shifting your mind to think more in a values based way. Check out this video here for more on that: kzread.info/dash/bejne/Y4mlrpaCd5meado.html Really appreciate you watching Elmi, and so glad the videos have helped! Keep it up :)

@shane727

Жыл бұрын

How is it going now?

@yazzy1979

8 ай бұрын

I just finished listening to budget nerds month ahead, and I found it really interesting that one of them says he resets his entire budget every year to get rid of categories ad take away and I found it really inspiring to just let it be like use the tool, and then start all over every year how are you doing? Have you been keeping up? I’m in the same boat.

so glad you're back teaching Nick - in the new YNAB. If you ever have another new update on small business/ profit first - any new hacks you've discovered in the last year or so - I'm in!! I've implemented so many things based on your trainings over the past few years. They are so helpful

Great video Nick! Thank you for showing us such great techniques on YNAB. Thanks to YNAB and your info videos and Master Class we are debt free and 4 months of income loss saved as well as 3 months ahead on budget! Took us 3.5 years but life is definitely less stressful than when we were so in debt and wondering if we could pay all the bills each month! Love the value based budgeting, going to look at that for my categories for sure. Thank you again for all this information, you are a fantastic teacher. Cheers, Eleanor

Thank you for this - it had exactly what I was looking for plus a lot more that I didn't.

I really appreciate the #3 Moving accounts on/off budget. I've being using YNAB for about a year and had my Emergency Fund & sons 'no touch' savings account in my budget. Moving these accounts out of my budget to a "Tracking" account makes so much sense & difference to funds I can use in the budget. Thank you Nick!

I’m totally inspired by your value-based budget. I don’t yet know if it’s the right move for me, but I’m going to start a new budget, play around, and see how I feel about it.

@mappedoutmoney

2 жыл бұрын

Awesome Gaby, so glad that inspired you. It's been a major improvement for us :)

I stopped using YNAB back in December 2021 on a temporary basis because my sister kept putting money in my account and sending money to me and then asking for it back in little bits and it was frustrating trying to figure out how budget with all that going on. Also I feel like I needed time to explore a more flexible way of categorizing expenses. Now that I’m in a better place and have a better idea of what I want to adjust I’m eager to start it up again. Luckily I’ve continued using most of the principles of YNAB so I haven’t had any of the same issues I used to have in regards to keeping money in my account longer. Can’t wait to jump back in.

Super helpful as we are facing a weirdly large level of delayed reimbursements. Love scraping your organization & titles like "Family & Relationships" too. It's a great way of unlocking a more generous mentality when I realize what my resources are actually going for values-wise. Example - I pay the coffeeshop not for coffee but a place to do a little work outside the house and get some variety in life :)

Very helpful tips. Especially how to handle the way transactions show up in the report. Thank you!

Wow Nick, what a FANTASTIC video, thank you so much for sharing your knowledge in such simple terms that even I could understand! I absolutely loved your tips about tracking pay deductions and having a value-based budget, I will be implementing both right now!

@mappedoutmoney

2 жыл бұрын

So glad to hear you enjoyed the video!

I especially love the values-based organization - super helpful! Thanks Nick

@writeme-up6504

2 жыл бұрын

🔝Hɪᴛ ᴍᴇ ᴜᴘ🔝

Amazing video! Thanks for the spreadsheet!! I have built something similar in the past, but yours is very clean. Coming over to YNAB now and I'm rethinking how to do everything.

@mappedoutmoney

8 ай бұрын

So glad it helped!

Awesome vid!

So helpful! Thank you!

@mappedoutmoney

2 жыл бұрын

Glad it helped Elmi!

Hi Nick, I've been following your tutorials for a few years now and YOU are the reason why I've been able to stick to using YNAB. I LOVED This tutorial, especially the last tip on "Rethinking" categories! By now, I've been able to get out of paycheck-to-paycheck and the current "Due By" categories weren't giving me any useful information. I'm excited about taking YNAB to the next level! Thanks, Nick!

@mappedoutmoney

2 жыл бұрын

Awesome Michi! So glad you enjoyed the video and found rethinking the categories helpful. That's been my favorite change as well :)

Hey Nick! Nick here - you said you were gonna leave a link to where we can find the values-based budget you guys use... I don't see it in the description. Am I missing it?

Thanks, Nick!

Thanks Nick. Great video.

@mappedoutmoney

2 жыл бұрын

Appreciate it Scott

Hey Nick! Awesome video like always, love your content. I already do a lot of things like you and it's great to see that I also think that way. Just for point 6 I found out a better solution, no need for an extra input sheet, I also track it in YNAB. For each tracking account (crypto , stocks etc.) I also have a an extra tracking account crypto gains, stocks gains) etc. And like you, at the end of each month I look at the current balance and compare it to the one before. So I can do the full report for my whole investments (category wise) in YNAB.

@writeme-up6504

2 жыл бұрын

🔝Hɪᴛ ᴍᴇ ᴜᴘ🔝

Great video, Nick!

@mappedoutmoney

2 жыл бұрын

Thanks Ryan!

I have been tracking payroll deductions on YNAB with separate categories instead of with split transactions. I like the method Nick shows in the video. How would I go about the split payroll direct deposits situation where not all paycheck money lands in one checking account?

Thank you so much been trying to figure out how to move an account from on budget to off

@mappedoutmoney

2 жыл бұрын

No problem Corrie! Glad it helped you figure that out.

Thank you Nick!!!! You dropped this video JUST IN TIME for me to try to import historical transactions so I can do my taxes... you life saver you!!

@writeme-up6504

2 жыл бұрын

🔝Hɪᴛ ᴍᴇ ᴜᴘ🔝

Values-based budget…..I love this!

@mappedoutmoney

2 жыл бұрын

Glad you like it Andrea!

When I think about me trying to talk about budgeting, the vast majority of people switch in a skilful way to the news or last football game and if I try to talk about ynab, oh my God they look at me as if I was an extraterrestrial humanoid. This course is of course a real advanced course :D

@mappedoutmoney

2 жыл бұрын

Totally get that Samuel! It's definitely not everyone's cup of tea, but glad you appreciate budgeting!

Hey Nick, I am not a month ahead but I am going to implement this budgeting strategy. It truly gives money a purpose besides paying for our responsibilities and goal achievement. I think value budgeting will kick this software into a completely different gear!

@mappedoutmoney

2 жыл бұрын

Love it Mario. If it makes you more excited to budget and really see the purpose behind what you're doing, I think that's a real win. Appreciate you watching

Hi Nick! Great video. I used to similarly track my progress of both credit cards and investments using a spreadsheet years ago. It was the one thing I wish ynab could do. Anyways, I found a backdoor way in ynab to do this and am happy with the reporting capabilities. Although it’s not able to give the ratios. But I think this could be programmed into ynab’s functionality. Would love to share if you’re interested. Keep up the great work!

This was really useful, I am looking to import historical data for trending and analysis. One thing you didn't cover is how to deal with the credit card payments that will be imported with the historical transactions. They could add transactions to checking, which means you then need to bring in checking data and thus other credit cards. In what order would you recommend bringing this data in?

Nick, I am running through videos from Gap Consulting for AirTable and saw you left a comment on there! I would love it if you did a series on how you are using AirTable and hopefully YNAB together for your business.

Gotta try out the paycheck deduction part and see how it all can work on my budget. I’m also a month ahead on my budget (I.e. I budget next month with this month’s paycheck) and see how that’s affected when I break down the deductions and budget for them. Challenging part might happen the months I get 3 paychecks (happens twice a year due to bi-weekly paychecks).

You’ve inspired me to want to import my first year and a half of transactions I made in YNAB into my second YNAB budget. I’d really like that history. Categories would need to be updated and Tracking accounts discarded, but all transactions had been reconciled. I suppose I could calculate a new beginning account balance for actuals as you described then re-categorize, but the process of having new budget amounts calculated scares me a bit. I’ll need to review your video a couple times again, but I really want to do this. Thanks for even suggesting it could be done. A couple months ago, YNAB Support discouraged me from attempting this - and probably rightfully so.

@mappedoutmoney

2 жыл бұрын

haha yes, their discouragement is warranted. I've done this with probably 10 - 15 clients over the past couple of years. And it's a lot of work. But if you really really want the data, it can be done. Like you said, just be sure to review the video a few times as you do it. Because you will need to categorize everything, and update the starting balances. Alternatively, if you don't need it in the same budget you're using right now, you could do a fresh start, just bring the data in there and work on it as you have time. Then you'd have two budgets. The one you use now to live, and an old one with 18 months of data for reviewing purposes only. THat way you don't mess up your main budget if you make a mistake.

@larrymagruder8385

2 жыл бұрын

@@mappedoutmoney Thank you for your response, Nick. I'd like all of my history in the same budget, but I don't need it to be. I like your suggestion of recategorizing my original budget (Jan 2020-June 2021) to look like my current budget (July 2021- ). That gets me a little closer to what I ultimately want, but allows me some time to study your video to see how I might combine the two at some point in the future when I feel more comfortable and knowledgeable than I do right now,

@mappedoutmoney

2 жыл бұрын

@@larrymagruder8385 Awesome Larry, glad to help. Just take it slow and play around with it. Appreciate you watching

Great video, nick and I get the concept. For the tracking of money, you Lent someone - you pulled it from your savings account, and when they repaid you, it was paid back to your checking account. What about the internal account transfers and how to you deal with that in your categories?

The investment spreadsheet isnt working for me

LOVE the idea of value based budgeting! I like seeing utilities and subscription separate but the whole idea is great! Do you have a guide to what yours and Hannah’s categories are? I didn’t see it below the video.

@writeme-up6504

2 жыл бұрын

🔝Hɪᴛ ᴍᴇ ᴜᴘ🔝

Hi Nick, i love your Tutorials an started ynab with your Videos. Thank you ♥️ what Kind of Software do you use for your Videotutorials? I am searching a tool where you can Move your Own video while explaining something on your Screen. Thank you and greetings from Germany ✌️

Greetings Nick-I am a bit of a budget nerd myself, which sometimes drives my wife crazy (in a lighthearted way). I have been constantly doubting my budget category structure, because I felt like we have been categorizing expenses in a way that does not reflect our priorities and values. The way you presented this budget made me want to give this strategy a serious shot. I checked the description and comments but did not see your category groups. Could you please share them so I can use them as a reference? Thank you for all your hard work helping people, and God bless!

@writeme-up6504

2 жыл бұрын

🔝Hɪᴛ ᴍᴇ ᴜᴘ🔝

@noah_beecher

2 жыл бұрын

Yes, would like to see the categories as well. Thanks!

Hey Nick - sorry if I missed it but what is the link to the example values based budgeting categories? Thanks!

I didn’t know you could track your gross paycheck like that. I am tempted to try that!

@mappedoutmoney

2 жыл бұрын

Give it a try Jeff, let me know if you like it!

Hi Nick thank you for your videos their great. I have budget set up and have money assigned out into November (assigning every dollar a job! ) I had to make an adjustment to an insurance category for Oct & Nov due to am increase When I moved money from an existing assignment in November the YNAB system put $ into ready to assign I then assigned the money for the increased insurance cost to the correct category for the months of Oct & Nov so my budget was correct ...Now my November 23 showed up as $25.00 over assigned? I didn't understand how that happened but I just reduced a category by the $25.00 it says was over assigned then it shows now it $25.00 in ready to assign in the mos. of Sept & Oct - I am so confused - I don't understand how this happened. nor can i determine how to fix it ...what did I do wrong? Can you help.. My goal is to have enough funds assigned out for 6 months ahead but it seems to get complicated when you have money assigned to the future months. :-( Any help would be greatly appreciated I feel like I am spending a lot of time maintaining my budget 😞Thank you in advance Christy

Hi there, I'm just sort of starting out with YNAB but how do you handle those transactions where your kid asks you for money (for lunch or a drink)? I can't work out how to make an outflow and tell it where I'm sending the money. Thanks so much.

Absolutely LOVE the value-based budget! How do you fund it the categories? Do you average out costs and use that as a target balance each month to make sure auto pay bills are funded?

@mappedoutmoney

2 жыл бұрын

Yup! As long as you have a month or two of data, you can just use historical averages to set your targets. I use mostly Monthly Savings Builder targets based on averages for a lot of the categories that are combinations of bills, and variable spending.

@LB-me7us

2 жыл бұрын

Awesome. Thanks so much for everything 😊

@mappedoutmoney

2 жыл бұрын

@@LB-me7us Appreciate you watching

Great and helpful, thanks so much Nick! Quick question regarding Advanced Paycheck Deduction Tracking. If I were to do this for both my spouse and I, do you recommend having (1) TWO Category groups with all the deductions under each of them OR; (2) One "Paychecks Deduction" Group with separate categories for my deductions differentiated from hers OR (3) one group and one category, putting it all together is fine?

@mappedoutmoney

2 жыл бұрын

Personally I’d do option 2 or 3. Lean towards option 3 unless you have good reason for how you’re going to use the data from separate paychecks. After all you can always go look at the individual data on the transaction side if you really need to. And in general I’m a fan of fewer categories when possible.

If you have a lot of voluntary deductions (life insurance, spouse life, identity theft protection, etc.) would you be better off entering them or just creating a separeate "other deduction" category for those and lumping together? Would there be a benefit either way?

Great video. With regard to the paycheck breakdown, I'm confused about the FSA. Should I include it as a transfer to another account, and if so, should I create a tracking account or an on-budget account? And then what to do about reimbursements from that account and negative balances since? Can you help with that?

@mappedoutmoney

2 жыл бұрын

Hey there, I've helped lots of people setup and track FSAs and it does depend a bit on your situation, and how you plan to use the FSA. Typically, my recommendation is to keep the FSA off budget in the tracking section, and yes, you can do a transfer in the payee portion of the split transaction to send the money to that off-budget account. Then, when you spend from it you can track it there. However, if you have a LOT of medical expenses and want the data in the reports, you'll need to do an on-budget savings account and likely use method 2 in my multi-account video here: kzread.info/dash/bejne/gGiHs9yxhL2XpbQ.html Hope that helps some!

Been struggling with long term lending - thanks!

@mappedoutmoney

2 жыл бұрын

So glad it helped Tesla!

@Tesla-Cannon

2 жыл бұрын

@@mappedoutmoney Follow up question for the tracking payable deductions. Would it be possible to do something like that while still having a 401k tracking account? In your example, I see the category split, but not an account. My 401k is set to be a $200 deduction from each gross check, and the rest of the deductions are meaningless to me right now. Should I add $200 to each of my gross checks and then cover the transfer, or is there a better way, or is adding a tracking account just complicating things?

@mappedoutmoney

2 жыл бұрын

@@Tesla-Cannon Actually Tesla, that would work just fine. No issues doing that at all. You would still do everything I show in the video ADD in the "payee" section of the split transaction, make it a transfer to the tracking account. (similar to how I did with the long-term lending) Then, once a month, you'll also want to do a reconciliation balance adjustment because YNAB won't update based on the underlying value of the investments. So absolutely, you can do the transfer and it's not that much more complication. Then just update your account balances on some sort of regular basis. Hope that helps!

@Tesla-Cannon

2 жыл бұрын

@@mappedoutmoney Thanks!!!

This maybe stupid but here goes…..i have watched a lot of videos. I have basically my budget set up. I get paid bi-weekly and I want to sort of start now or I guess I cld wait for September. How can I just pick up now and not worry about the assigned items that bank bought in. Would I just start when my pay shows up from bank and maybe manually apply some because I have paid many bills in August already?

Hey Nick, really like the ideas here! Do you have an excel file with your groups and categories? The idea is really cool and I want to look at my budget compared to what you did to think about it a bit

@MarkJ1984

Жыл бұрын

Did you get a response back from Nick away from the comments? An excel would be really helpful.

@ivanjay2051

Жыл бұрын

@@MarkJ1984 Unfortunately not :(

@MarkJ1984

Жыл бұрын

@@ivanjay2051 shame

I don't see the link to the spreadsheet :(

Hey Nick, do I include my mortgage payments under my wealth building contributions in the spreadsheet? Thanks!

@mappedoutmoney

2 жыл бұрын

Well, it's really personal preference for what you would want to track as part of wealth building. I personally, don't. But I would put EXTRA mortgage payments towards the wealth building contributions. I think of base-line mortgage as just paying for somewhere to live. But totally up to you!

What a beautiful channel and great contents. Thanks for sharing such a wonderful videos. Subbed and liked ! a fellow creator. ~

I am trying to set up my budget to handle my husband's job expenses. I've watched your video about reimbursements but his repayments are never in the same month. After watching this one it seems setting up an asset acct may work but how do I do that when he pays for the job expenses with our personal credit card? Getting a separate credit card isn't an option.

@raviendha1

Жыл бұрын

Edited to add: we have the money in our checking to cover the expenses, if that matters.

Do you think YNAB is useful for someone with no debt?

YNAB's website is almost worthless. If it were not for Nick True, I wouldn't use the program. Thank you, Nick. More importantly, YNAB should thank you and hire you to set up a functional official How-To guide to use their software.

This might help someone, maybe you have another way to do it. I have to take an RMD every year and I didn't want to leave the money in the bank earning nothing. I also have other money coming in but it's not enough to cover all my monthly bills. So, I created a savings account because it at least will earn some interest. That was still not helping me because I had assigned all the money in my budget and it looked like I was going to run out of money by March! I had no idea what my monthly budget should be. So, I created a monthly allowance for myself budgeted from my savings account. Now, I know how much money I have to spend each month and can take from my allowance if I need to. When my bank account gets low I can transfer money into my bank from savings. Hope this makes sense and helps someone else too.