New and learning

New user here.  I am using various YNAB teaching tools (YouTube, FaceBook, YNAB workshops, videos, and written tutorials),  to set up my categories, budget (including goals), and accounts in a way that works for me. 

First partial month coming to an end, so going to spend some time this week, learning how to transition from one month to the next; including what to do with extra bucks (thank you YNAB for dropping Hannah into my Facebook feed to discuss getting a month ahead!  YNAB really does what it can to set clients up for success and I appreciate it.

6replies Oldest first
  • Oldest first
  • Newest first
  • Active threads
  • Popular
  • Hi Doin' Well !

    Welcome aboard the YNAB train and to the forum  - we're happy you've joined us! :)

    I hope you don't mind me throwing a few different resources your way! When a new month starts, you'll notice several things change, including how overspending is handled in your budget.

    • Positive Available amounts rollover — if you had money left over in the Available column of a category, that money will also be available in the new month.
    • Negative amounts don't carry forward — negative Available amounts do not roll over into the new month, because when your budget has overspending, you can't trust it to make spending decisions.
    • Cash Overspending is applied to the new month's To be Budgeted balance, so you might find To be Budgeted is negative in the new month.
    • Credit Overspending is applied to the credit card account where the spending happened. Instead of going back to correct those categories in the past, make the correction in the current month by budgeting the amount of the overspending to the Credit Card Payment category.
    • The Budgeted column resets to $0 — The Budgeted column contains the money you've budgeted this month. When a new month starts, you haven't budgeted any money yet, so the Budgeted amount will be $0 (if you didn't budget in the future). Note: If you move money out of a category, the Budgeted amount might become negative, which is totally okay!

    To see this all in action, check out this video from our Using Your YNAB Budget video course. :)

    Like
  • Amazing!  Thank you for the response. Incredible customer service!!

    So, a credit card question.  Credit card.  My card payment is due on the 17th.  I pay off balance 100%, always.  August 1 rolls around.  There is a balance on my card that I will pay mid-month.  According to what I just watched, the balance will be zeroed out.  Explain how to proceed.  Thank you

    Like
    • Doin' Well Any credit overspending will zero out from your categories, but the balance on your credit card will carry over. As long as each credit card purchase was budgeted for (which, should be the case since you're paying in full each month), you'll have enough Available in your credit card category to cover the full balance on the credit card. :)

      Like
  • Faness,  Thank you.  I feel like you are my own personal financial planner!!

    Like 1
      • satcook
      • satcook
      • 3 mths ago
      • Reported - view

      Doin' Well does the amount in the available category for your credit card equal the full amount due on your card??

      Like
      • Doin' Well
      • Doing_Well
      • 3 mths ago
      • 1
      • Reported - view

      satcook Yes!

      Like 1
Like5 Follow
  • 5 Likes
  • 3 mths agoLast active
  • 6Replies
  • 167Views
  • 3 Following