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/
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.
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.
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.
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.
I am also struggling to get used to YNAB coming from Mvelopes. V5 of Mvelopes blew my mind so much that I have almost lost hope in it (all but they will allow you to revert back to v4 if you prefer). I am currently using Mvelopes, GoodBudget, and YNAB trying to see what works best. GoodBudget is a lot like Mvelopes but all transactions must be entered manually. YNAB is so much smoother and never seems to have the glitches that are daily in Mvelopes. Mvelopes, however, has the best setup for planning ahead really knowing where you stand financially, overall. I really wish that someone at YNAB could do a workshop to help all us Mvelopes fans train our brains to work with YNAB. I have watched all the video tutorials, attended how to setup YNAB workshopes, etc. but the concept of YNAB is just so different from Mvelopes that I feel lost.
Another Mvelopes ExPat here. I've been in YNAB for about 2 months now, and I still am feeling a bit off my game. I still miss the paycheck profiles, and the ability to track envelope to envelope transfer history. However, I think I will stick with YNAB because the age of money metric is intriguing. I think it also gives me a clearer picture of what I actually have. I thought that I was budgeted a month in advance with Mvelopes, but once I switched to YNAB, I realized I was still living paycheck to paycheck for things like groceries and fuel. I want to get ahead of ALL of my expenses.
The think that is giving me the most heartburn right now is the "Roll with the punches" rule. When I have a surplus on a category that has a Monthly funding goal - there does not seem to be a good way to transfer that money to another category without the app yelling at me to fund more money. I don't understand why I can't use the excess without messing with my funding goal? Mvelopes did not link these concepts at all.
Orange Yeti said:
there does not seem to be a good way to
Don't know why, but clicking on the category dollar amount, typing in the amount to move, and selecting the category to move it to, seems to work best for me without affecting the TBB number and metrics. However, I was first trying to simply subtract say change amount budgeted from 50 to 40 from one category and add it to another, say 0 to 10 and sometimes it was fine and other times the TBB went negative, or the credit card balance changed, and other weird stuff.
Orange Yeti said:
I don't get it, because I did already fund for the month.
Let's say the funding goal was $100 which you funded. But now you realize you have $25 too much so you move that to another category. Well by moving the $25 you have reduced the funding for that month to $75. $75 is less than $100 so you did not meet the funding goal.
Orange Yeti said:
and the ability to track envelope to envelope transfer history.
That's what I miss most about Mvelopes. I wish I could see what has happened to the budgeted amount after it gets into the category. If I could see a history, I might remember why I borrowed some from a certain category, and then know if I wanted or didn't want to add more this month.
But Welcome to YNAB. I've been here about as long as you, and I'm definitely staying.
Very happy to see so many "mvelopes ex-pats" I've been an mvelopes user for many years. Like all of you, loved the concept, hated the shoddy application. I was very excited to see v5, but then when it totally bombed (after years of waiting and empty promises), i switched over to ynab a couple of months ago. Still learning the nuances of this system, but overall very happy with it
Also a very long time (Lifetime Member) Mvelopes used who just started with YNAB yesterday. It's a shame that V5 has forced us out. I have to wonder what was discussed in the meetings when they decided what to remove from V5 (things like the rules and reconciliation) and to make the interface more challenging to use.
I'm all set up in YNAB but will use the trial period to see if I will make the switch permanent or stay with Mvelopes and hope that they fix all the things that they broke.
I'm also a lifetime MVelopes member since 2010 and am extremely frustrated with the MV5 debacle. I've set up YNAB and think I can change the way I think to get it to work. Even if the put the missing features back into MV5, the YNAB interface is so much cleaner and smoother and the amount of help is so robust that I think I may stay with YNAB.
I would like to know what took place in the planning meetings when they decided to take so much functionality out of well-working program.
This is sounding frightfully familiar... I hope it's not contagious.
Another Mvelopes xpat here. The disastrous v5 migration started me looking at other alternatives despite their migrating me back to v4. Loving YNAB so far, although it definitely requires a different way of thinking. The thing I miss most is being able to create your zero-based budget complete with a funding plan tied to your payperiods/paychecks. This just made it so simple for us biweekly folks. On the other hand, the Mvelopes Funding Plans made budgeting and funding so easy it sort of became a "set it and forget it" operation and stopped evaluating my budget each month with the intention it deserves.
One of the big things I'm really liking in YNAB is that your budgeting is right there alongside your spending (remaining). In Mvelopes the planning of your budget was sort of removed from the execution of your budget or your spending. Also, really liking the features for moving money around. YNAB makes this so easy.
Finally, I just have to give a shout out to the YNAB training and publication folks. There training and documentation far exceeds Mvelopes and other Personal Finance vendors. They seem to do a great job of not just covering the basic, dug-I-already-knew-that, kinds of stuff, but anticipating and covering the tougher scenarios folks hit as they plan and execute their budgets. Very impressed with YNAB!
Decided to make the jump to YNAB 100%! Love this system, love the web app, love the iOS app, love the community, help and workshops.
Went to cancel my Mvelopes subscription (member since 2011), but no Cancel link as described in their help. Just the sort of thing that's making me jump ship...that should be the simplest thing to do if I so choose! Gotta' contact their support to cancel my subscription.
Anyhow, excited to be a YNABBER!
"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?"
I somewhat new to YNAB (6 months) and feel it is probably the best product available for my needs right now, but from what I have seen "product development" is not a priority for them. I have seen zero features added in 6 months and most users requests here for changes or improvements that I have seen were met with a response of either A) "we hear, but here is why you are wrong" or B) "We'll add it to our development list, but it is not a priority" (e.g. bank sync outside the U.S.), or both.
For those of you who are Lifetime Mvelopes members who are making the switch to YNAB, what are you doing with your Mvelopes accounts? I don't know if I should cancel my account or just let it sit (since it's a lifetime membership it doesn't cost me anything). Part of me is curiously interested in checking out the application periodically to see what changes they end up making). Any downsides to just leaving the account active?
Bruce Rick It was a slightly hard pill to swallow to start paying for something I haven't paid for in years (YNAB is now a line item in my budget) but I'm glad I moved over. In fact, I wish I would have looked at YNAB years ago, seems so much more thought out and well supported. Good luck in you new YNAB adventures!!