Month ahead

I get paid on the last business day of the month, and my husband has intermittent income, based on being a freelance photographer. As his money comes in I like to have it all set-aside until the 1st when I budget for the month. Personally, I do not like budgeting for the next month until the 1st. I prefer to see the big picture and see all of our income at once then budget. I have been using this new online version since it came out, however, I feel like I carried some old YNAB 4 habits with me. How you do handle next month income? Currently, I have a "Next Month Category" in my current month and I negative the budgeted amount on the 1st of the next month. I think this method is messing with my view of income and my reports. I'm looking for a new way to start this for the new year. 

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  • As long as you are recording the income into TBB and then budgeting it to the "next month" category it shouldn't mess with your reports.  This is exactly what I do and they are accurate.

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  • You can put the income directly into the "next month's" category and your reports will continue to be accurate. It will just be listed under "expenses" instead of income on the Toolkit Report, but it will show up as a negative under the income. All your sums on the bottom of the screen and averages on the right of the Toolkit reports will continue to be accurate.

    I personally prefer to put my money directly into the next month's category because it is easier for me to keep track of. 

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  • This is a great question,  Diana Pfalmer !

    I prefer the method that 2dogs2cats mentioned of categorizing the income as To be Budgeted then budgeting that to your "next month" category. When the 1st of the month comes around, move money from the "next month" category to To be Budgeted. Then budget to zero and give those dollars jobs!

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  • This is helpful. I was straight categorizing his income to the category "next month" so it was never showing as "income" on reports. I have gone back and changed some of his income to "income TBB" and then assigned it to next month and now it is showing accurately in Reports. 

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  • 2 yrs agoLast active
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