Going from Monthly Budget to Weekly

Hi there,

Been using YNAB for years now and it's been ages since I visited the forums, so was a shock to see this new one lol!

Anyway I was wondering if I might ask for a bit of advice.

So I have happily been using YNAB with a monthly income, I am a month ahead as it were. So as soon as I get paid I can assign this to the next months budget.

Now I have made the fun step of trying to be a contractor and usually a weekly income is the norm. So I am a little confused if I should be doing anything with my YNAB budget or not?

Should I create a brand new budget but organise it so that the things are in date order so I know what I have to pay each week, or should I create groups for each week and budget that way.  Or just continue as I am??

Most confused!

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  • If you're a month ahead, why would any of that be necessary?

    Reply Like 3
  • Just stash all your weekly income inflows into a temporary holding category until the end of the month, then release it back to the budget. Instant monthly (effective) paycheck. Budget next month as usual.

    Reply Like 3
  • So along with the same lines as Most Confused, I get paid bi-weekly. I also have my bank split my loans and my credit cards in half. So when I get paid, that money I have goes to those two weeks payments. I am just starting out a new budget and I'm taking my Total monthly bill for a loan say and I'm putting this in the Budgeted section. Currently, it's taking the money I have in the bank say $2400 and it's taking the Total Monthly bill (not the total divided by two) and taking that out of my $2400, So when I put in all my Monthly recurring bills, I am effectively negative, because I don't have my total months income in the budget because I haven't received it. I've included a screenshot to help. I am negative because I haven't received my whole month's salary. 

    Help confused!  

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      • nolesrule
      • YNAB4 Evangelist
      • nolesrule
      • 2 mths ago
      • 2
      • Reported - view

      Slate Blue Deer Don't budget money you don't have. Any negatives in your budget means your plan for the money you have is not feasible.  You can't fund both of your payments because you don't have enough money yet to do so.

      Don't use a quick budget option. You'll have to manually budget the appropriate amount that you can pay.

      Reply Like 2
    • nolesrule  Than you. So if I use the Linked Account feature for my checking account, AND I get paid and it enters the new funds. Since I haven't "Budgeted" anything for that next two weeks (per your recommendation), you want me to enter the next two weeks bills? If this is true,  ok. However, I don't know how this would ever change unless everyone was paid once a month? Pardon my ignorance but can you explain further for me? Thank you very much for taking the time for this as it's one reason I'm having issues with YNAB.

      Reply Like
      • nolesrule
      • YNAB4 Evangelist
      • nolesrule
      • 2 mths ago
      • 3
      • Reported - view

      Slate Blue Deer Rule 1 is give every dollar a job. Exactly one job. That means if you cannot have any negatives on your budget screen in the current month. It's the most important thing to remember in YNAB's budget system. If you have negatives, you need to fix them.

      Yes, you will be in this position until you can do something about it. It's a symptom of living paychech to paycheck. The only way to break the paycheck to paycheck cycle is to accumulate funds for the sole purpose of breaking the cycle. Once you have accumulated enough funds for the purpose of using all of the current month's income to cover your budget for all of next month, then you will be able to budget one month at a time.

      Reply Like 3
    • nolesrule  Ding, ding, ding! GREAT explanation and I get it now.. And this is one of the goals to not live paycheck to paycheck and to accumulate a 3 - 6-month emergency fund.. OK. Thank you very much I really appreciate it a lot.

      Reply Like 2
  • Keep your budget but maybe reorder the categories so that they are in date order. Maybe also rename them to add the dates of payments due. You still have to pay out the money, just maybe be stricter about it till you get used to the new system.

    Reply Like 1
    • lindsay_g   It's funny you say that because I did just that about a year ago.  One issue with the software is that you can't change the column spacing to accommodate size. I have a 27" monitor and I can't do anything with the software to manage the width of these to offer proper viewing. 

      But I'll do that again and use your suggestion on putting the absolute bills in date order and the amount to be paid. This is a heads up of what's needed to be paid and when. 

       

      Great suggestion. 

      Reply Like 1
      • JoeDid
      • Remember: It is To Laugh
      • Purple_rain
      • 2 mths ago
      • 1
      • Reported - view

      Slate Blue Deer If you use the Chrome or Firefox browser, you can install the Toolbox add-on, which, in addition to offering many, many useful features to the lacking vanilla YNAB, offers an option to resize the column spacing. On your 27-inch monitor you'll definitely find a happy setting. There's a Toolbox option for Safari, too, but it's a bit wonky and not as fully featured as the ones for Chrome or Firefox.

      Reply Like 1
    • JoeDid Just installed it! Wicked Cool thank you Sir.. 

      Reply Like
  • Thanks for all the answers everyone. I like dakinemaui's idea of a holding category for my weekly pay checks and then just as I do now make that the budget for the next month. And bevocat you make a good point, if I already am a month ahead I don't really need to do anything as I will already have the money available.

    I just think I was trying to over complicate things, thanks for sorting me out!

    Reply Like 4
    • AFK_Matrix That's a good idea, however I am not able to do this as I have a check come in every two weeks and I then have arranged my "absolute bills" (loan payments, etc) divided in half and I pay that at that point. Helps to keep the interest down as well as doesn't give me the idea that I have $$ in the bank when I don't as it's always spoken for..

      Thanks everyone for weighing in on this! Great group.

      Reply Like
      • dakinemaui
      • dakinemaui
      • 2 mths ago
      • 3
      • Reported - view

      Slate Blue Deer The utility of being able to push all income into next month's budget is more pronounced if you are paid bi-weekly. You may not be able to do it now, but work toward it and you eventually will be able to. By "work towards", I mean live within your means and budget a bit each month toward a category your "other" check typically funds -- i.e., "get ahead".

      Reply Like 3
    • dakinemaui  That's an interesting way of creating this "Goal". I'll create that now. Thanks allot again everyone. 

      Reply Like
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