New to Budgeting

My account is unlinked since YNAB doesn't link my bank.  I've also been putting in some transactions manually because some of these don't clear for days. Some companies take longer to charge me than others. Amazon I'm looking at you . . . . . . .

 

So .... anyways I'm living paycheck to paycheck and I'm not sure if I want to get ahead by a month on some of these billz? Or save money for the upcoming winter when my gas and electric will be super high.  Or if I should look at savings in general. 

Also, I'm going to be going to online school starting at the end of next month. 

I'm a bit confused and would love some help. 

 

Thank you. 

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  • Brenna Arthur said:
    Or save money for the upcoming winter when my gas and electric will be super high.

    If you don't like scrambling last minute to find the money (and dealing with drastically less money somewhere else), I would definitely build up a surplus.

    One easy thing to do is always budget at least the average amount (yearly total divided by 12). You still may be short at some point, but it won't be as much.

    (You can do the math for a more accurate budget estimate that won't leave you short, but it's more complicated.)

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  • Brenna Arthur said:
    Or if I should look at savings in general.

    No point in saving just for the sake of saving. Saving is merely delayed spending, so you should always save for *something*. That might be an emergency fund that hopefully won't be used, but putting a label on the WHAT allows your mind to gauge the relative importance.

    The golden rule of budgeting is the important things should get the money.

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  • Where do I put my saavings?

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      • Rakuna
      • rakuna
      • 3 wk ago
      • Reported - view

      Brenna Arthur You create a category like you would for any other purpose your money needs to do and put the money there. You can name the category savings, emergency funds, do not touch, what ever makes sense to you and tells you what this money is supposed to do (=not be spent right now but wait for a purpose defined now or later).

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      • Brenna Arthur
      • Housewife and student
      • Cyan_Mixer.12
      • 3 wk ago
      • Reported - view

      Rakuna yeah i meant in an account or do i put it in some other online place like paypal or bitcoin or put in a cashbox and hide it in the house?

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      • nolesrule
      • YNAB4 Evangelist
      • nolesrule
      • 3 wk ago
      • Reported - view

      Brenna Arthur Where you keep your money is a personal choice.

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    • Brenna Arthur Wherever you like in the real world. Different places have different advantages (accessibility, interest, etc.) Regardless though, you should have an account in YNAB to represent that location (checking account, wallet account, cashbox account, etc.).

      I'd shy away from putting money in any "foreign" currency (including bitcoin). YNAB works best when the value of your money doesn't change behind your back.

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