Moving from Mvelopes ...
I am in the process of evaluating YNAB as long time Mvelopes user..
I am in good talks with support but can anyone else who has made this transition share their experience?
I would say that I like the Mvelopes approach but I am finding that my old habits are quite entrenched.
I can see that I may have to give up a few things that I am used to. I am willing to change may ways but since my current system is quite entrenched the transition is bigger than I thought. Here are few comments:
1) I live on last months pay. All my current pay goes into the "Income Cash Pool". Each month I "fund" my envelopes using a saved funding plan. The ICP is now zero until my next paycheque. I think that I see the same functionality in YNAB.
2) I have a funding plan for the next 12 months. Mvelopes allows me to essentially have a 12 month budget. This is very handy as I can allocate special months where my income is higher like on those 3 paycheque months. I like the 12 month view as well along with yearly totals.
In YNAB I see "budget templates" and assume they are similar to a funding plan in Mvelopes for for only a single month.
Also with the YNAB is there feature roadmap that is published that as future subscriber I get a a sense of some of the functionality that might be added?
Any help would be appreciated..
Welcome! I'm not an Mvelopes user, but:
1) I image that this should work pretty similarly to Mvelopes. All income is categorized as "Inflow: To Be Budgeted", then budgeted out to your categories until the TBB is zero. You can use goals or the quick budget buttons to create a budget template and speed up the budgeting process: https://www.youneedabudget.com/how-to-create-a-budget-template/
2) YNAB only has the single month view (you won't be able to see all 12 months on one screen), but you can budget out as far ahead as you need to.
Two things to note, though:
-- You can budget ahead as far as you like, but you need to have something budgeted in the previous month (just a single cent, for example) before the next month becomes available for budgeting. If you want to budget for Feb 2019, you have to have something budgeted in Jan first. I believe this is to prevent you "losing" money by budgeting it out to a super-far month and then forgetting about it.
-- YNAB is focused on the money you have in your possession right now, and generally asks that you don't budget out future money that you expect but don't have yet. Basically, it doesn't want you to make questionable current financial decisions based on a potentially incorrect or an overly positive financial picture. If you want to budget for December 2019 and have that money available, great! But YNAB won't allow you (at least, not without a big negative To Be Budgeted number and a much murkier understanding of your current financial picture) to forecast that month's budget with money you don't have in your possession. When you budget money in YNAB, it's with the understanding that the money in your budget is available in your accounts right now.
3) YNAB has a somewhat irregularly updated roadmap that lists some of the things they are tackling in the near future. In general, YNAB has been hesitant to provide a more complex roadmap because development timelines or priorities may change and they don't want to underpromise / overdeliver. https://www.youneedabudget.com/up-next/Reply
Beige, I am doing the same thing, trying this out compared to Mvelopes. I am also a long time user, probably 12 years or more, but they are so slow to make changes.I do exactly the same thing with Mvelopes, I am basically a month ahead, I let all my paychecks accrue in the ICP and then Fund the next months envelopes with a saved funding plan. YNAB is not making total sense to me either. With Mvelopes you can budget money in envelopes each month for quarterly bills, but in ynab when I go to change the money available for a particular budgeted item, it changes the budgeted amount for the month also. I am trying this out along side using my mvlelopes, not sure I am going to be able to figure it out though. Definitely noticed ynab is not clunky like Mvelopes ( the current version). The beta 5 feels Mvelopes seems much smoother, but they have been working on that over a year and it's still in beta. They said hopefully this February it would finally launch, but we will have to wait and see.Reply
I'm too am a current (almost former) Mvelopes user looking for a new budget home. My wife and I get paid semi-monthly (1st and 15th) . Switching from an envelopes based program to a first come first serve program (at least that is how I perceive it) is giving me great anxiety, not sure why. Any words of advice are appreciated.Reply
Same here - Mvelopes user since 2011 (and Microsoft Money before that until they shut it down). Seriously evaluating YNAB after seeing the disaster that v5 was last week. I'm thankfully rolled back to v4 so I can figure out a better system.
I think we are looking for a funding plan, which is what Mvelopes has. I take my monthly spending plan (aka budget in my world) at the beginning of the month and determine how to allocate each paycheck over the month, depending on when certain bills are due. How does YNAB help with that planning approach?
I do see that I can set up scheduled transactions, which is really helpful. Do those then move into budget categories (to be funded) on those dates? How do they match with actual transactions when they come in?
I also see the concept of setting up goals. This makes perfect sense for those expenditures that aren't monthly. How does setting goals work on for monthly expenses? Do you reset the same goal each month? How is that tracked when the month rolls to the next one? It seems like this goal concept would also help with those erratic spending months by making me think about them ahead of time and plan for them.
There are many features that I see so far that I think will be better than Mvelopes, so I'm looking forward to digging in and learning about YNAB.Reply
We used Mvelopes for about 10 years before switching to YNAB. We love how smooth YNAB is and how quickly needed updates happen. But, there is some functionality we greatly miss from Mvelopes, to the point where I am holding out hope they fix the V5 bugs so we can go back (we're Mvelopes lifetime members). For example, I loved having our budget built in Mvelopes and being able to track when an envelope was funded or see the trail of moving money between envelopes. With YNAB, we have to keep a separate budget spreadsheet and track how much of it we have funded during the month. It's just more work.Reply