I'm not getting it....

I am just starting YNAB. I must be thinking wrong...Two questions

1. I tried to put in my monthly bills and since I get paid 2x month, it doesn't';t work for me.  I am confident that this tool doesn't require us reentering in all our normal payments every time we get paid? 

I watched the videos and they just said enter your expenses in. 

2. How to account for credit card payments? Loans/CC don't show on budget categories. If I add them, YNAB double counts them... Are there any examples of how it works?

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  • I suggest that you review the Getting Started materials and avail yourself of the free classes.

    YNAB is essentially an envelope budgeting system so you only budget the money you have right this minute. That may mean that you may not be able to fully fund some of your categories at this time. It is up to you to prioritize by asking yourself, what does this money have to do before I get paid again and based on those answers, you proceed with your allocations.

    Ideally you build up your categories so that you can budget your month all at once - I will use both of my January paychecks to fill in my February budget categories and I'll do it after receiving my second January paycheck on the 22nd. My February paychecks will fund March, etc.

    But until you reach that point then yes, you may have to partially fund your utilities category with each paycheck you receive. Or you fund it entirely with your first check but don't fund Fun Stuff until your second paycheck.

    If your checking account and your credit card are both on budget accounts, then your payment is just a transfer from your checking account to your credit card account with no category (payee: "To/From: Credit Cart Account Name") rather than a transaction with a (payee: Credit Card Account Name).

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    • jenmas thanks so much. Helpful.

  • If you buy stuff with your CC, it should be an on-budget account. Things are not double-counted because buying $50 of groceries reduces the Grocery category but increases the CC Payment category. This is a good thing since you still have the exact same amount of cash!

    If this is a loan or CC you're just paying off, I wouldn't make an account for it. Just treat it as you treat the Electric bill -- just a category to reserve funds to pay the bill.

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