How to I keep next month's money out of this month's budget?
I like to leave some slack in my budget during the month so I don't have to keep moving money from category to category. And the end of the month I put what's left of the slack money I into a savings category and zero out my budget. But I get paid on the last day of the month which makes it difficult to zero out the budget - because next month's money is in there too.
I have been putting my pay check into a category called Next Month instead of letting it go into "Inflow: to be budgeted". This hides next month's pay check from this month's budget - but it messes up the Income/Expense report. Can you think of a better way to do this?
The classic YNAB had a category called something like "Budget for next month", which is what I really want to use - but they don't have that in the new version.
This version of YNAB has an entry for "Budgeted in Future" next to the big green "To be Budgeted" display at the top. Is there any way to control what "Budgeted in Future" has in it? How does "Budgeted in Future" work?
I guess I could post-date the paycheck date. But I really don't want to because it would be confusing for it to not match my account.
Any thoughts? Its important that I scrape every extra penny into savings each month, and that is more difficult then it was in the classic version.
I use a category called Income for Next Month (INM) also but I enter my paychecks for the current month as TBB and then immediately move them money to INM. This results in the income being correct in the report. I actually put a note for myself in the INM category notes section to remind me of my work flow, posted below:
1)Send all income to TBB first then budget to INM.
2)Any categories that you want to sweep empty at the end of the month should be transfered to IMM during the current month.
3) When new month starts, budget all categories which will leave TBB negative, cover - TBB with INM.
As Move Light Sound Life said, bring it in as Income Next Month (INM). (This is typically automated with the scheduler or payee rules.) When you want to budget next month, bulk-recategorize all transactions in the INM category as TBB. Search makes this easy.
Both TBB and Budgeted In Future should be zero most of the month.
In contrast to bringing it in as TBB and immediately budgeting to INM, I find this process is less work and less error-prone to mixing money, especially if you are direct importing so you cannot control when money shows up.
Green Leaf said:
I like to leave some slack in my budget during the month so I don't have to keep moving money from category to category
I would keep that extra in a dedicated category. Keeping TBB at zero is a good way to detect erroneous or accidental budget entries.