I am loving YNAB so far. Didn't get paid this month (joys of clients dodgy invoicing system!) and YNAB has turned what would have been an awful, stressful month burning through my emergency fund into something so much easier to deal with. Even when my car had to get towed to a garage, I might have been stressed, but it wasn't because of a lack of visibility of my budget. And it felt so refreshing to not be worrying about the repair costs I knew were heading my way... Kind of unnerving actually! I've spent my life stressed about money regardless of income - I'm often a very avoidant person when it comes to finances - like boxes of unopened post in my 20s kind of avoidant - so this feels amazing. Absolutely worth the yearly fee!

@YNABofficial

2 жыл бұрын

Wow, this is what we love hearing! Thanks so much for sharing!

It worked for me and then I found YNAB so it was a natural transition. I used the envelopes when I was a single mom too. My kids learned when the $$$ was gone we did not debt. 🌹

This concept is how I use YNAB. Each month I budget the money I received in the previous month for the next month. While I don’t withdraw cash & use an envelope, this is how I think of my categories in YNAB.

@YNABofficial

2 жыл бұрын

Exactly! YNAB is just like digital envelopes, right?! The *cooler* electronic mail 😉 -Hannah 🌻

Great video! I use YNAB but I still use some cash envelopes, too. For example, I have an envelope in the glove compartment of each car for gas money, partly because our local gas station gives a 20 cents/gallon discount for paying cash, and also for emergencies. Case in point: I once forgot my wallet and didn't notice until the gas light came on and I was still 15 miles away from home! I also use cash envelopes for part of my personal care and restaurant budgets, as I prefer to tip my hairdresser and servers in cash. But for all of these categories, I have both my category in YNAB, and my envelopes, and I just split the cash withdrawal in YNAB and track that cash as already spent when it goes into the envelope. That way I can keep part of my cash digital and part of it in actual cash.

@sura-quayarbon6055

2 жыл бұрын

Great system! Making it work for you.

I wanted to embrace this but looking at the app screen made me realize I am much too lazy (or old) to go digital with my budget. Cash envelopes was never as difficult as ppl make it seem now. Just pull some cash out at home and update the total at home - NOT in the checkout line. Don't take $1000 to buy a TV if you're scared of being robbed. Use your debit card and either deposit the money back or, if leave it in your account to begin with since it should already be budgeted for.

@ortzinator

2 жыл бұрын

The biggest problem with cash is that because of inflation it shrinks in value in your pocket. Of course, if your bank account interest is lower than inflation then it still loses value, but not as much.

I’m gonna give this a shot. YNAB has been the magic feather for my finances, but I think it all being digital gives me too much leeway to be loosey-goosey about stealing from my priority categories to cover overspending elsewhere. Maybe having the physical limitations on a select few trouble categories for a while will help me rein it in.

@YNABofficial

Жыл бұрын

I totally get this! I can be the same way! This challenge is great and... *challenging* 😂 Best of luck!! 🌻 Hannah

Amazing explanation!

For those that chose to use cash envelopes (my sister is a devotee), to avoid wasting envelopes you could use the back of the envelope to track the spending/balance and thus reuse the envelopes for at least 6 months.

@daftoptimist

Жыл бұрын

Nice! Saving money and trees.

I have used YNAB for years but every day get lazy and just swipe my card and end up screwing upself. I cannot for the life of me figure out how to make it a priority to type in my transactions every time I make a purchase. I'm debating going back to cash because cash feels more valuable then my debit card. I don't spend as much with cash.

@lakeisharhyant2045

Жыл бұрын

Opposite for me I have cash handy and I'm more likely to spend.

I love YNAB i really do but something that I noticed just in my behvior psychologically it is more painful to use cash because you can physically see it. Ynab is great but it does not really help with over spending the same way as rve envelope system.

I was kindof hoping for some guidance to use cash envelopes, and track it in YNAB to start. Any tips?

@YNABofficial

2 жыл бұрын

Hey Roger! That's kinda the trick-YNAB *is* a cash envelope system, just made digital! So, while it may be a little redundant, any move you make with your cash envelopes you can just record to YNAB. Tell me more about what you're wanting to do and I can try to help you! Or, you could write in to our customer support team for a little more one-on-one, in-depth advice! 🌻 Hannah

@rogerhoward2384

2 жыл бұрын

@@YNABofficial Thanks for the reply. I have since found an article from YNAB explaining using cash as a category. I'm just doing my own thing to track my cash (envelopes) to start with. Thanks again :)

@YNABofficial

2 жыл бұрын

Awesome! So glad!! Here to help anytime :) 🌻 Hannah

Hannah - Do you have a video on how to use the loan planner?

@YNABofficial

Жыл бұрын

Hmmm, not so much a newer video. We have this old one that shared about the loan planner when it first launched! But I could definitely consider adding a more detailed walk-through of the loan planner to my episode ideas list. Thanks for the suggestion! 🌻 Hannah

What if you are paid twice a month?

So, the envelopes is something like a budget, right?

@YNABofficial

2 жыл бұрын

Absolutely, the envelopes are like a budget! A budget is making a plan for how you're going to spend your money and sticking to that plan, which you can do with envelopes, a spreadsheet, or an app like You Need a Budget. Give it a whack!! -Hannah 🌻

I love the concept but the monthly cost for the app puts it out of my budget for now. Once my 34 day trial is over I will have to switch to an actual envelop system. The pricing that ended last year could have been doable for me but not the $14.99 since that is half of a savings item I need for my future items like car registration or my emergency funds.

@sura-quayarbon6055

2 жыл бұрын

When I setup the free trial I made a category for the annual subscription cost (works out to $8.18 a month when you pay annually). See if you can do up a envelope to put away money to save up for the cost. It was worth it to me long term to find the money somewhere that month to pay for it. We are making significant inroads to managing our limited funds and paying off debt with the use of YNAB. I have used physical cash envelopes, Mint, budget books and several other programs. Love cash envelopes but it isn't a great system for goals and dreams unless I kept a box of envelopes at home to hold cash for things like car insurance deductible, savings for a new roof, summer school for my daughter, the dump we go to a few times a year, butcher we use once a year, vehicle registration, new tires and so on. I am able to set money aside for all of these things in YNAB which I was never successful with before. Sometimes I am only able to put a $1 in, sometimes none but I have it there and there is progress.

@ortzinator

2 жыл бұрын

Personally, YNAB saves me at least 14.99 a month but if you have a system that works for you, that's great!

Missing the bloopers at the end (Sigh!)

@YNABofficial

2 жыл бұрын

She's too humble to tell you this, but the problem is Hannah is too good at her job and doesn't make any mistakes while recording. ~BenB

You said there was pain noticed if using actual cash, I think. Then you ignore that when you recommend YNAB and further mention how convenient it is to overspend by moving digital budgeted categories/envelopes. Ugh!

Lol “Not trying to pay extra rent”

Chicken every Sunday

I'm gonna miss YNAB. Was a customer for years... but at $15 a month, NO THANK YOU! Love you guys, gonna miss you.

@Oscar-vd4cv

2 жыл бұрын

Why not just pay the yearly? then it's like 8.25 a month.

@conureron3792

2 жыл бұрын

Still a good deal for me.

@britneeg

2 жыл бұрын

Most people spend more for less

@suizilla

2 жыл бұрын

@@Oscar-vd4cv not everyone can afford the entire amount at once

@sura-quayarbon6055

2 жыл бұрын

​@@suizilla Well I couldn't afford it so I made an envelope to save up for it and also had that as a category in my YNAB trial. Saving $81.71 in a year was worth the time and energy it took to save up the money.