Transitioning from Moneywell

I'm a little unsure of the YNAB way of doing things compared to Moneywell. In Moneywell, when you create a budget, you create the plan of how much money will be  automatically added to each bucket/envelope. When money is deposited, it is put into the income bucket/envelope. Then when I'm ready to budget, I click the  "fill buckets/envelope" button, and it transfers from the income bucket/envelope all the amounts that have been budgeted into the various envelopes. 

What's the best way to do it in YNAB?  On the paychecks, do I create a "split" on where it is distributed in each category & it will match that at the next paycheck, or is there a better way? I've only been using YNAB for a week, but it is looking like my budget will reset to zero every month which is not what I'm looking for. I would rather tweak my budget each month rather than rethink it every month.  

Thanks!

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  • I think you would do well to look into creating a budget template. It sounds like that's what you want to do. Also, please look through all the tutorials.

    https://support.youneedabudget.com/t/18grc2/creating-a-budget-template

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    • Abby
    • Toolkit for YNAB Designer & Developer
    • abbydawn
    • 2 yrs ago
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    I originally switched from Moneywell to YNAB, though it's been a couple years.

    Probably the key difference (if I remember correctly) is that YNAB is a little less automatic in regards to how money is budgeted to your categories.

    When you get a paycheck, you'll record it to the "inflow: to be budgeted" category. This makes the money available to be budgeted (you should see a green "To Be Budgeted" number in the top center of the Budget page). You'll then switch to the budget screen, where you'll budget out the money (manually or automatically using the quick budget buttons) until your TBB is zero.

    When the month switchover happens, your budget categories will stay the same. Any positive balances will carry over to the next month, any negatives will reduce the amount of money you have available or create credit card debt, as appropriate. You shouldn't need to rethink your budget every month... but YNAB will expect you to budget out your money as you get it, asking yourself "what does this money need to do until I get paid next?". Your priorities may change, unexpected life events may happen, so not every month will be perfectly consistent.

    Definitely check out the budget template article JoeDid posted, and look at all the various learning materials YNAB has on their website. Their free classes are especially helpful as you're getting started.

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  • Thank you all. That's helpful.

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