Ballooning amount in wallet. Why?

I transfer money from one account into a wallet account so I have cash. As I spend, I categorize, so shouldn't the amount in my wallet account go down?  

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  • It will if you record outflow transactions in the cash account.

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  • As dakinemaui said, it sounds like you are transferring money (all outflows) in your wallet account. Since it is a budget account, transfers have no category (since your putting money in your left pocket and putting it in your right pocket). 

    Your cash account will just keep growing if you do is outflows. 

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  • My money comes into my bank account  "to be budgeted", I transfer (it is an outflow), say $200, from my bank account to "wallet account" so I have cash on hand. In the wallet account this is recorded as an "inflow". Then when I spend it, I record the transaction in wallet (the transaction is  now an outflow in "wallet" . Am I correct so far?

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    • Sky Blue Memory All correct. The Wallet account balance should increase for the inflow and decrease for each purchase (outflow).

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  • Sky Blue Memory said:
    My money comes into my bank account  "to be budgeted"

    You still need to allocate jobs/categories to this money. The fact you have changed the location of some of it is immaterial. Much like having $5 for a burger, you can keep it in your front pocket or back pocket without changing it's job (to buy a burger).

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  • I do assign categories. Maybe I am not keeping good enough receipts so I don't know where the money went, so it remains in my "wallet"? Sigh.

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    • Sky Blue Memory if you don't record outflow transactions, then yes, that account will not decrease.

      You should frequently reconcile your Wallet account and make an adjustment transaction when necessary to correct the account balance.

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      • HappyDance
      • YNABing consistently since 2014
      • HappyDance
      • 1 mth ago
      • 1
      • Reported - view

      Sky Blue Memory 

      If you use a lot of cash, try to get into a routine of entering your transactions as soon as possible and reconciling your wallet account frequently.

      I reconcile my wallet (count my cash) at least once a week, Saturdays usually because I do a lot of errands on Saturday, but I will also reconcile sooner if I have a day with some cash spending.  I ask for a receipt whenever that option is practical, and I have a self-imposed rule that I can't remove the receipts from my wallet until I've entered them in YNAB. This acts as an annoying nag because I hate carrying all that paper in my wallet, so I will sit down that night when I get home and handle the entry and a fresh reconciliation.

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      • Bree
      • Bree
      • 1 mth ago
      • 1
      • Reported - view

      Sky Blue Memory  that’s why I never budget cash. If I take out cash it’s an outflow payee cash and that the end 

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