Going from Monthly Budget to Weekly
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??
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.
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