Unexpected large expense

Hello YNABers,

I would appreciate your thoughts on this topic. This week my beloved dog had a very large ($700), unexpected veterinary expense. I have the savings to pay for it (thankfully), so do I even bother to log it into my budget/cover it with savings inflow?  Thank you for your thoughts!

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  • If it was paid for by an on budget account then you definitely need to log it in ynab

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  • Yes - I have a veterinarian expense account

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      • dakinemaui
      • dakinemaui
      • 5 mths ago
      • Reported - view

      Cwren do you have a Vet *category*?

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      • Cwren
      • Cwren
      • 5 mths ago
      • Reported - view

      dakinemaui I do!

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  • Hey Cwren - I hope your pup is doing okay! ❤️Last year mine broke one of her canine teeth in half (long story), and our bill was riiiiiight in that ballpark. Oof.

    I'm speculating here, but it sounds like maybe your veterinary expense account isn't included in your YNAB budget, but the initial $700 outflow for this expense occurred in an account that is on-budget. Am I on the right track?

    That said, before I dive into all possible solutions, I'd love to hear more about your account/category set up in YNAB so that we can help you account for this correctly. Let us know!

    In the meantime, I also wanted to leave you with this article about budgeting your savings that I think you might find helpful. 

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      • Cwren
      • Cwren
      • 5 mths ago
      • Reported - view

       Rachel Hi there - Yes, I have a veterinary category in my budget, but this far exceeded what had accumulated in there to date. The initial outflow of $700 was not covered in an account that was on budget - I had to transfer in from my savings account. Does that answer your questions? Thanks for the help!

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    • Cwren sorry for the radio silence! Since it sounds like you transferred money in from an external (off-budget) account to cover the expense, you'll want to assign the inflow from the off-budget savings account to your veterinary category and record the expense in whichever account it happened.
       

      I would definitely recommend including the savings account you transferred money into your budget from in your budget accounts list, too. Then, when unexpected expenses like this happen, you can simply move money between categories to cover overspend! 

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      • Cwren
      • Cwren
      • 5 mths ago
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      Rachel Thank you!

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  • If I need to take the money from savings.  I will just minus it from there and move it to my pet fund.

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      • Cwren
      • Cwren
      • 5 mths ago
      • 1
      • Reported - view

      VoltaicShock Thank you!

      Like 1
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