Goals- doen't know when they're paid?
for example- I have a category goal to pay my union dues $52.50 every three months, so the Goal this quarter was to have $52.50 in the acount by March 2020. All good, the amount was available this month, the dues got paid via autopay from my checking account, YNAB imported and correctly categorized the transaction.... but now it's yellow, saying "Your $52.50 goal is due this month, and you’re short by $52.50. Budget another $52.50 to reach your goal target." ... what the heck? why doesn't it know the goal was reached and paid? Is there a better way to handle these kinds of budget items?
Thanks in advance for input!
Yes, I agree it’s very unintuitive however the way this sort of goal works in YNAB is that the app wants to have $52.50 in the account at the END of March (i.e. available to spend in April).
Someone with a little more experience than myself will be able to guide you on the right way to set up a goal to achieve what you want (sorry!).
In my experience I usually have the goal set to “Fund $17.50 a month” so that by the end of the 3 months I will have the full $52.50. Because it is a goal to fund X amount rather than a goal to have a target balance by a date, it doesn’t cause the same issue when I actually spend from it. Unfortunately setting up your goal in my way will not work if you’re not planning or able to fund an equal amount to the category every month.
Thanks for the input, all... seems to be a case where adding 'end of' to the Goal Month would eliminate the confusion. I'll just make the next Goal "by May" to cover a payment due in June... right?
I guess I still don't understand why I get the under funding error message if the full amount of the payment is available when the payment posts...
William Spencer said:
I still don't understand why I get the under funding error message
Because the goal looks solely at the Available amount which is now probably $0. It could be implemented better, but it's also trivial to work around.
Just ran into this with my auto insurance bill. Goal set to have $700.00 by May and there was $700.00 in the category. Paid $588.61 w/Covid discount and now it's yellow with a $111.39 balance and saying I'm $588.61 underfunded. It is not clear in any instructions that you have to set the goal to be the month before the actual due date of the payment. As someone pointed out here, that artificially inflates the amount you need to save each month. Certainly not ideal.
Since the quarterly transaction is a consistent known amount, instead of fiddling with updating 3-month goals every quarter, I'd set this up as a monthly funding goal of $17.50 going forward, with no end date, and be done with it.
I might also consider setting it up as a spending goal. Since we're nearly halfway through the year, In June set it up to spend $122.50 by December, then change it to a $210 annual spending goal in January 2021 to December 2021.