Am I spending too much?

Looking at my income and trying to figure out if I can upgrade a car payment. But having difficulty figuring out what I budget monthly right now. My income is mostly fixed, I had to go add up on pen and paper all my categories.  Is there an easier way? How do I decide if I can afford a new payment or expense?

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  • I found this video by YNAB's Hannah super useful for this specific question

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  • I love Hannah's video! Also, consider setting up a Budget Template so you can use YNAB to see if the math works out. 

  • The income v. expense report may also be helpful, particularly if you look at the averages column. That is more helpful if you have 12 months on YNAB already, but can give you a sense of your current spending (which is not exactly budgeting, as it doesn't include true expenses or savings, but might be close).

  • A suggestion i read on facebook. Add a plus $10,000 fake transaction. Go forward to an empty month, select all your categories and look at the assign suggestion. Desktop only, i think. (Dont forget to delete that fake $10,000).

  • I have been known to occasionally flip to the next month and fill in my "normal" budget figures. If the resulting red Ready to Assign amount is less than your monthly income then you know you're budgeting (and hopefully spending) less than your monthly earnings, and by how much.

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