How far back to get started?
I am very new w/ YNAB.
One 'getting started question' I have not seen in the docs:
- "how far back?" should I import and categorize transactions
- Can I delete imported transactions that are "too old"
- I have imported YTD transactions from my bank and credit cards
- We have a lot of purchases and categorizing hundreds of transactions year-to-date seems daunting
- We're more interested in "the future" than "the past"
Another thought, it is good to examine past transactions to get an idea of what categories to create. A credit card yearly summary is also a good resource.
Just be aware budget allocations are estimates, otherwise known as "guesses". You will not be 100% right, so adjust as it becomes obvious that you should, and move on.
Can I delete imported transactions that are "too old"
Yes. The absolutely most important thing is that your YNAB cleared account balance matches that in the bank as of today.
thanks for the quick and consistent replies!
I raised the question during the online zoom class today and the instructor said the same:
i.e, the most important thing "up front" is to get your mind wrapped around the process and that starting out "unlinked" is best in most cases.
I like this answer as:
- categorizing hundreds of transactions appears a daunting task w/ no "well defined"
- from a long term perspective, we want to get our practices in place