Help for Mortgage Planning

Hey All!

I need some help.    I watched some of the online youtube videos and feel very confident on using YNAB.   I have not set up my budgets yet, just got logged in and basically started.   My situation is a little unique but also familiar to others needing to learn how to budget.   I was sick last couple years.   The mortgage company is putting me on a trial run for my mortgage in a remodification starting March 1.    I have currently more than enough to make the first payment and income coming in.   What would be the best way of planning for the March mortgage payment, while starting to set up a budget for February thru?

I appreciate the help.    


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  • Hi Patrick! Cadet Blue Tiger

    I hope you're feeling better! :)

    I'd create a Monthly Funding Goal for your mortgage category. You can enter the amount of the mortgage payment so that YNAB prompts you to budget that amount each month. Since we're still in February, you'll want to budget for any immediate obligations (such as utilities due before the end of the month). Once those are covered, budget enough towards your mortgage category to reach that goal. If you have enough to budget for everything right now - Great! If not, once you receive your next paycheck you can use it to cover any other expenses. 

    When you have a moment, watch our video on How To Create a Budget Template or take a look at the Set Up Your Budget Workshop. Both will teach you how to use scheduled transactions and goals to outline priorities and plan for those expenses! :)

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