Newbie YNAB'er: How to make a budget with partner ?

Hi everybody,

I'm new to YNAB and I must say I love it. It is exactly what I expect it to be for a budgeting tool.

However It looks to me as a good fit for personal budgeting. But not so much for budgeting with a partner it seems. Or am I wrong ? 

For example, I have a Checking account, savings account and than me and my partner have a shared bank account. Each month we get our income and both put 700 euro in the shared account (=1400) (to pay rent, groceries, electricity, ... )...

So actually we split everything in 50/50. 

When I budget 350 for rent (that's half of the rent), than I have troubles when I pay the rent via the shared account, because then I have 700 as outflow for rent. That makes that I overspent 350 on my personal budget.

I could take 700 for a budget, but that's actually not correct, because it's a personal budgeting tool and I don't spent 700 on rent, but 350.

Same goes for electricity. It costs 100 euro per month in total. When I budget 50, and pay via the shared account 100euro,  I overspent 50 euro. 

Is there a solution for this small problem ? 

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  • It seems to me that the shared account should either be a separate budget or don’t worry about budgeting it at all. You do all your budgeting when you transfer funds to the shared account.

    Like 1
      • Bertv96
      • Sky_Blue_Android.2
      • 7 mths ago
      • Reported - view

      Superbone 

       

      Hi thanks fr answering :) 

      Superbone said:
      You do all your budgeting when you transfer funds to the shared account.

       => If I create a total new budget for the shared account. I can't transfer any money to it...  ?  It's completely seperate or am I missing something ? 

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      • jenmas
      • jenmas
      • 7 mths ago
      • 2
      • Reported - view

      No they are not connected so it would have to be an expense transaction in one budget and an income transaction in the other.

      YNAB can work with a partner, but generally the partner has to participate by including their accounts in the budget and either by entering transactions personally or giving you receipts so you can enter transactions.

      Like 2
      • dakinemaui
      • dakinemaui
      • 7 mths ago
      • 3
      • Reported - view

      Right. From the standpoint of your personal budget, the transfer of the electric money to the joint account is effectively, "paying the bill."

      There will be duplication, since you have boundaries between ownership at the account level. This greater separation leads to more administrative effort.

      In contrast, a joint budget with pooled funds is relatively easy administratively. The effort comes in at a different level because you have to develop joint priorities and talk to your partner.

      Like 3
  • When I read "budget with a partner," my thought goes to a joint budget that has categories for both people and pooled funds. Priorities are discussed and developed to ensure both people are happy. Doesn't necessary mean everyone gets the same amount of money, because different activities are often different magnitude of expense. But if the two of you are happy then it's all good.

    The scenario that you outline is more of a roommate situation. Brush up on reimbursements. Reflect reality with various transfers between his/hers/our accounts.

    One very important rule: a given real world account should not exist in more than a single budget.

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      • Bertv96
      • Sky_Blue_Android.2
      • 7 mths ago
      • 1
      • Reported - view

      dakinemaui So I create a seperate budget for my shared account. Here I make a budget for groceries, electricity and everything with my partner. 

      On the transactions from this shared budget, I have each month an inflow of 1400 euro (both of us deposit 700 euro.

       

      Than on MY personal budget I create budgets with my money and just make an outflow every month of 700 euro.

       

      Am i right that I can do it like this ? This seems fairly Ok I guess ... 

      Like 1
      • dakinemaui
      • dakinemaui
      • 7 mths ago
      • 1
      • Reported - view

      Bertv96 Yes, that is what I would suggest if you want the separation of finances.

      Like 1
  • Thanks everyone :) 

    Like 2
  • My situation is similar in that we both have our own account and a shared one which we fund with a set amount each per month (not the same amount, but agreed on).

    I started YNAB end of september en till now I've taken the approach to enter everything I have access to to the budget (this makes it sound as if I'm denied acces. It doesn't feel that dramatic. He's quite frugal but hates bugetting. I used to as well, so who am I to say he's obliged to because I feel like it...). I'm still figuring out the best way to handle things. Till now I've put eveything in a big pile and funded the whole budget from there. I read a YNAB blog about using shared money for shared goals and 'my money' for 'my goals'. Thougth about that. Though in real life I can't draw a line between mine and shared for spending and goals... And still considering the mine-his-both categories as well. Hmm. I'm not sure what will work best. And at the same still hoping I can seduce him to join me in bugetting....!

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