Best Way to List a Savings Account I Use Fairly Often

New here, Thanks for your help!

We have a savings account where we keep money for our kid. I use the mobile app, and I currently see the account listed under the budget tab and also under the accounts tab. (This may not have been the correct way to set up this account in the app)

When I have an expense for the kid, I run into a funny loop:

1) The funds come out of the budget tab, as expected.

2) The funds have not yet been transferred in my "real life bank account," from savings to checking.

3) If I do transfer the funds IRL, then my YNAB budget suddenly has additional money that I'm pretty sure doesn't exist.

 

I think I have something set up wrong, but I'm new, and I can't quite figure out the best path for my use case.

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  • Sounds like you have it set up right but are making the transfer incorrectly. The transfers are at the top of the payee list. Should look something like "Transfer:Checking account name". When you do the transfer correctly between accounts, it won't require a category and no funds will be changed in your budget.

    This is assuming both accounts are in your budget and neither is a tracking account.

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  • Pink Storm said:
    I currently see the account listed under the budget tab and also under the accounts tab.

    Actually, it should only be under the accounts tab. Categories are what you budget to/from.

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      • Pink Storm
      • Pink_Storm.12
      • 3 mths ago
      • 1
      • Reported - view

      Superbone I think I get the first part of the article (although its hard to be sure), and I think that I might need to keep my "Kid" category, and my "Kid" account.  Where I may have gone wrong is that I didn't enter the account transfers so that side of the equation will be correct.

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      • Superbone
      • YNAB convert since 2008
      • Superbone
      • 3 mths ago
      • 1
      • Reported - view

      Pink Storm I see. So you have an account and you have a matching category. You'll just have to do extra work if you want to keep them in sync. You could just get rid of the account and let the category do the work of keeping track of the amount. However, if you do want to continue to keep the account in sync with the category, your step 3 above, transferring funds from the kid account to your account, shouldn't generate any additional funds in the budget unless the kid account is a tracking account and not in the budget. Transfers between two budget accounts don't have any affect on your budget funds.

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    • Pink Storm Welcome to YNAB! Yes, the transfer shouldn't add or remove any money from the budget. The article Superbone linked will be super important in understanding the independence between your category and your account, and here's one that covers exactly how that transfer should look, too. Let us know how it's going, okay? 

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