I'm new to YNAB and looking for some guidance

Hi, Looking for some help.  I have several checking accounts & two credit cards all of which I have set up in YNAB (linked electronically).  I have established my budget and am running into a few challenges.  My main issue is:

  1. I pay off my credit card every month.  I recently received a small cash bonus which never hit my checking account - hence it wasn't budgeted for, how do I adjudicate this in YNAB, especially with CASH. 
  2. If you pay most of your fixed living expenses every month with a credit card i.e. cable, electric etc. I understand setting up the budget for these fixed monthly expenses however do I then need to budget for the credit card payment too (again I pay it off every month).  

Thanks in advance to any help, I ran my first budget in December and decided to do a fresh start in January (since I paid the fee) I am committed to figuring this out :-).  BTW I have watch several videos and on the surface they seem very easy to follow however what if your situation is a little more complex? Thanks again..

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  • 1) You can set up an account for cash if you want to track it. It really depends on personal taste and how much cash you deal with. I so rarely have cash that I don't even bother. If I take cash out of the ATM I'll just put in as a regular transaction and categorize it appropriately when I take it out and not worry when I spend it. If you do use it a lot, you can create a budget account the same as a checking account and track that way (just with no auto import, obviously).

    2) When you enter a transaction on your credit card account, you will categorize it normally. So if it's $100 for the cable bill, you will put in a $100 transaction and set the category to cable bill. Assuming you have already budgeted $100 for cable, YNAB will take that money and put it to your credit card payment category so the money will be ready for you to use to pay the CC off.

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  • Thanks Tobias,

    YNAB is a completely different way of thinking, yes it makes sense however you need to understand that it is different.. Your not forecasting your $ rather your budgeting.. :)  Thanks again for the explanation..

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