Adjust months?

I get paid on the same day each month, 23rd, and that’s the point I want to be able to budget. I’m finding the cross over of the month is confusing, is there a way to make YNAB treat the 23rd of the month as a new month?

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  • Work toward using the money you get paid on the 23rd to fund only your next month's budget.

  • Instead of working from May 23-June 22, June 23-July 22, etc. I'd recommend that you try to make your money last slightly longer. If you plan for your money to take you from May 23-June 26 (4 extra days) and June 27-July 31, then in short order you will be able to switch to planning (budgeting) in a single month's area starting in August. 

    There's no need to plan further ahead -- and indeed I find it counterproductive to do so -- so you can then switch to growing an Income Replacement category or other emergency-like funds.

    • dakinemaui hmmm, that makes sense. What’s the best method of keeping that money in ynab until it is time to budget it? I think that’s what is tripping me up a bit. I also have some automatic transfers that go out in the couple of days after my salary arrives, how do you recommend handling those?

      • Bruce
      • Software Engineer
      • Bruce
      • 1 mth ago
      • 2
      • Reported - view

      Slate Gray Pony well, for the automatic transfers that go out right after your check comes in, for this month, just pay them like you normally would, with this month's income.  Those might be the first places to start "accumulating" your extra 4 days worth of budgeting (in the scenario described above)

      so, kind of what that would look like is you budget your money into category A and B (the 2 scheduled transactions due right after your paycheck comes in.)  Then you budget everything else that's due between your paycheck and the end of the month.  Now you can create a category lovingly called "Income for Next Month" (INM) and put the rest of your paycheck in there until  the month rolls around.  At the beginning of the  month, go ahead and schedule out as much of your budget as you can, and put some extra into those category A and B (that are those scheduled transactions right after your paycheck.)  Now those categories are covered BEFORE your paycheck, and when your next paycheck comes  you now are a couple of days ahead, Once again, add the rest to categories still needing to be filled before EOM, and place the rest into INM.  This amount is hopefully a larger amount than what was in it last month, which means it will reach further into the month than you did last time.

      When the new month rolls around,  and you schedule categories A & B again, as well as C & D (the next ones due between category B and the end of the month)... Continue creeping forward until you have nothing left to budget between paycheck and end of month, and your entire paycheck goes into INM.  

      Now you're fully buffered, and life just got a lot easier!

      Like 2
    • Slate Gray Pony I can't improve much on what @Bruce  described. My question is when you say "automatic transfers", do you mean bill or CC payments (as Bruce assumed) or do you mean transfers to a savings account? Just wanted to double check.

    • Bruce thanks, that makes sense. I’ll give it a go when June’s salary arrives and see how it goes.

    • dakinemaui they are a combination of both. Some are bills, but I’m using some goals to save money for things like car services etc, that I need a certain amount by. One of them ends in august, so I will be able to adjust that more easily for the following year.

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