Transferring from savings to checking?
I have transferred a sum of money in YNAB from my savings to checking. I expected the amount I transferred to show up in the "to be budgeted category" so that I could split it into different categories. Here is the situation, I moved money from savings to pay for two big purchases out of my checking. My checking account now shows the balance including the transfer but once these transactions are taken out, I would like to "add a transaction" so that it is reflected in ynab. Does that make sense? If so please help!
If your savings account is on budget, all of the funds in that account have already been allocated to your categories so in addition to moving money from savings to checking you have to reallocate in your existing categories. I’m on my phone so sorry for the messy link but you should read this article as many times as necessary to get that location and purpose of funds are two different things: https://www.youneedabudget.com/the-relationship-between-your-budget-your-accounts-its-complicated/Reply
I have several months' income in one on budget savings account. I do not have a Savings category in my budget. Instead, those dollars have jobs like sinking funds (HVAC replacement/repair, new roof, new windows, new gutters), maintenance categories (house, car), and health care expenses (dental, medical, vision). They are earmarked for future vacation, a car replacement fund, for school activities, clothing my family, paying bills, and any number of jobs amongst the 90+ categories I have in my budget.
What jenmas was getting at is that on-budget accounts can only have one job at a time and that YNAB doesn't care where those dollars live in on-budget accounts. If you have 50 dollars that you've assigned the job dinner, it doesn't matter if it's in one's left pocket, one's right pocket, in one's bra, or in one's sock. Moving it from one pocket to another or from savings to checking doesn't change the job of paying for Chinese takeout. If you have 3 savings accounts, a money market, and a checking account all on budget and your TBB is 0, then you've assigned all of your money jobs within your budget. If you had an on budget savings account as well as a Savings category, then yes, you could both move money from one on budget account to another as well as move money from the Savings category to To Be Budgeted. But YNAB does not automatically assign savings account funds put on budget to savings categories within the budget, you have to create a new account called Savings or Income replacement or whatever.
Please also remember that YNAB does not contact your bank so the money will not move from your actual savings account to your actual checking account, you have to do that. It also will not pay any bills you've put transactions in for (which is why my accounts are full of future recurring transactions that have memos like "Needs to be scheduled" and "sch 6/10 for 6/22 conf.# 872376." The first one reminds me that bill is due on the scheduled date and has not been scheduled and the second tells me I've already scheduled it and when I scheduled it. If I only put a date in the memo field, I was never sure if I'd scheduled it or it needed to be done on that date. I've almost scheduled two payments for one bill twice, which would have been an expensive mistake since I hadn't assigned the second payment the job of paying my credit card.Reply