Monthly vs Monthly by date

I need help understanding which is the correct approach for dealing with bills that are reoccurring like car insurance. I have setup a monthly goal by date, but I am struggling with the month after the maturity date. I have to create the monthly by date goal again for the next 6 months.

i was thinking it may be better to just use a monthly funding goal like I do with my mortgage. But then I lose flexibility if I need to dip into one of those categories. With the monthly by date I always will know if I am on schedule for the next due date or what I need to catch up. 

I was thinking it would be nice to have an option where I could use the monthly by date with automatic repeat interval like every 3,6 or 12 months. That way the month after the bjill is paid the monthly goal by date resets. 

How are others dealing with these types of bills?

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  • I schedule a repeating transaction for every 6 months on the due date for the total cost of the insurance premium and I created a category named insurance premium that has a target category balance by date for the month it will be due.

    Once I pay the insurance premium on it's due date I have to reset the target category balance by date to 6 months from then.

    Reply Like 1
    • Coral Octopus Yeah sounds like what we do.  I was hoping that there was another way.  I sometimes forget to reset the goal and notice a month later.

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  • I use a set monthly amount, but I never borrow from car insurance because it's just too hard to build it back up again in time, and it stresses me to think of it.  My car insurance renews annually, and I pay less by paying it once a year rather than monthly. I've never looked into the six-month option.

    Until you've built up nice plump categories such that you don't need to raid or borrow from other categories, I would suggest updating your goal every six months.

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  • Hi carterbunch !

    I went ahead and sent this over to our development team as a feature request for the ability to set reoccuring goals! :)

    For now, the options mentioned above are the best way to go - you can either reset that goal each month, or set a monthly funding goal where you don't borrow from that category. If borrowing is an issue, I'd suggest continuing to reset that goal.

    Reply Like 2
      • Agent99
      • Working to Get Smart at budgeting, finances and life
      • Agent99.1
      • 1 yr ago
      • Reported - view

      Faness Thanks for passing this request to the dev team. This would be a common use case to address. Most non-monthly bills- car insurance, life insurance, subscriptions are recurring.  Therefore, a reoccurring goal would be extremely useful. 

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    • Faness Thanks for sending this over as a request! This would be super useful to my family as well for all of those monthly bills. We love using the funding goals for our yearly bills though! :)

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    • Faness Thanks for this.  I think this will be most helpful.  Then you don't have to reset goals for these types of bills.  Is there a way to track the progress of this feature request?

      Reply Like 1
    • Agent99 Orchid Trumpet (4b5b3ad01b58) carterbunch

      You're all very welcome! :)

      Currently, there isn't a way for users to track feature requests. Our development team collects the feature requests we send over in a database. Just about every day, they go through and code the data, asking questions like: Where is this person in their budgeting journey? What problem are they wanting to solve? Then, during our research cycles, they analyze all this collected feedback to plan for what’s next  in YNAB. You can always check the What's Next page, but that highlights changes that are currently in progress.

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  • Hello, I really need the repeating goal target date feature and don't see it on the "What's Next" page.  Any updates on the dev team's priority to implement this?

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    • Hi Allie !

      If you'd like to see recurring goals by date, would you mind sending that over as a Feature Request? That form goes straight to our developers, to be considered for future updates.

      They collect that information—every last bit of it—in a database. Just about every day, they go through all of it and code it, asking questions like Where is this person in their budgeting journey? What problem are they wanting to solve? Then, in regular research cycles they analyze all this collected feedback to plan for what’s next  in YNAB.

      We don't have any news to share about Goals just yet, but when we do—we'll be sure to announce it! 

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      • Allie
      • Orchid_Tugboat.1
      • 5 mths ago
      • 1
      • Reported - view

      Nicole at YNAB Thank you Nicole. I submitted a feature request.

      Reply Like 1
  • Any updates on implementation timeframe for this feature?

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      • jenmas
      • jenmas
      • 5 days ago
      • 1
      • Reported - view

      carterbunch just because everyone and their mother submits a feature request for something is no guarantee that YNAB will actually implement the feature.

      Reply Like 1
      • nolesrule
      • YNAB4 Evangelist
      • nolesrule
      • 4 days ago
      • 5
      • Reported - view

      jenmas That's the understatement of the year.

      Reply Like 5
    • Hi carterbunch !

      We aren't able to provide a timeline for future features - even confirmed ones! However, we do post current workings on our What’s Up Next page. :)

      Reply Like
      • WordTenor
      • I arranged the menu, the venue, the seating.
      • WordTenor
      • 4 days ago
      • 1
      • Reported - view

      This subthread is almost a parody. 

      Reply Like 1
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