Qapital App

Does anyone here use the Qapital App to save the change from every transaction? I'm in the middle of setting up an account and was wondering if anyone used it (or a similar program) with YNAB and had any tips.

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  • These sorts of programs are very complicated to combine with YNAB. If you think about it, they are predicated on your finances being exactly the opposite of how YNAB teaches you to do things. YNAB has you account for every penny specifically, and be hyper-vigilant about what each dollar is for.  In addition, it doesn't particularly rest on *where* your dollars are, but just what you intend to use them for.  "Keep the change" programs are predicated on the idea that you aren't paying enough attention to notice if $0.01-$0.99 disappears with every transaction, and are entirely based around the idea that where your money is determines its purpose.

    Using such a program with YNAB is a pain because for every transaction you have to account for the outflow from the category for the spending, the outflow from the category that saves your change to a different account, and THEN you also have to go back and change the job of that $0.01-$0.99 from whatever it was to savings. 

    Much better to just allocate your money to savings using your category. If you'd like the effect of a keep the change program without the hassle, periodically (monthly or weekly) sweep your spending categories and put the remainder in a savings category. So if you still have $23.22 in Dining Out today, Oct. 31, move $23.22 to whatever you're saving toward. 

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    • Tan Major (faac422e1003) 
      I was afraid it would be a hassle to try to figure out. But I didn't think about the fact that it went against YNAB's principals. That's a bummer. I've always loved keeping change jars and cashing them in, but since switching to YNAB I hardly ever have cash and my jar is growing at a snails pace. 

      Thanks, for the reply!

      • Jen
      • Budget Expert
      • Jen_c
      • 3 yrs ago
      • Reported - view

      Orchid Trumpet (4b5b3ad01b58) You could put an emoji on those categories you're using to save up! There's no change-jar emoji, but ...💰  👛   💸

      • Pineapple Gal
      • Goal-Getter
      • Orchid_Wrench.11
      • 3 mths ago
      • 1
      • Reported - view

      WordTenor So glad you said this! I periodically "sweep" my categories. I don't typically empty out the remainder of a category, but once a week, I take change and any odd dollars from categories and move them into my "Things I forgot to budget for" category to provide a cushion for future me. When that category gets big enough, I move the excess to savings. Great way to apply a similar "small change" concept to YNAB!

      Like 1
  • I was using Qapital, but once I switched to YNAB, I stopped. It was too much of a hassle to calculate, and all those tiny little transactions pulling from my account were a pain to categorize. I realized that I could do the same thing YNAB. I budget a normal amount for our electric bill, and when the bill is lower, I slide that extra change into either debt repayment or our wish farm. Or I let it roll over to the next month, depending on the category. And then, for my Qapital goal, I turned it into its own category in the wish farm and I put about how much I was getting from the Qapital app into it each month. 

    This way, it's more manageable for me and I can save even faster. 

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  • When my income is decent, I use Acorns' round-up, a different kind of "keep the change" program..... But what I do is budget an extra few dollars a day into a "misc.savings" category, that way any money it rounds up is considered savings, instead of spending.... it is a pain in the butt to make the adjustments and transactions and whatnot, but I like the idea of saving without doing any work. haha.

      • ClimbingOutOfDebt
      • I think I can I think I can
      • ClimbingOutOfdebt
      • 3 yrs ago
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      Lavender Wrench (c4ac2d9a76bd) Same. Even though I budget based on my priorities, the few extra bucks from here and there for Acorn (and also for Digit, which I love) can usually be WAM-ed easily, so I save more than I might have otherwise. I use my Digit money for an extra credit card payment every time it get to $200, and the Acorn money as a boost for my new car fund.

      Like 1
  • I don’t use the app you are talking about, but I use Acorns and invest the spare change. I treat this as an addition to my normal savings even though this is being invested with Acorns. So every time Acorns saves and transfers my spending round ups to the investment account I add the amount out of to be budgeted and move it to my emergency fund budget. Then mark the transaction as a transfer between accounts. 

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  • I entered my QAPITAL account manually. Every time it shows up in CHASE that money was transferred to QAPITAL, I do it as a transfer to that account in YNAB. Now it just shows up automatically. The actual amount in my QAPITAL account is usually only a $1 off from how YNAB is accounting for it.

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  • I would love this feature to be added. It could work by having two accounts imported, one for spending and one for savings. Then it would be easy what is spent on certain budget categories, and what is simply saved in the savings account. 

  • This is an old thread, but I do use Qapital, and it actually isn't a hassle. You don't have to account for every expense: it's just a transfer. It's still my money, and it's just basically living in a savings account. I do understand why it seems like it is against YNAB's principals for budgeting, but again, it's just a transfer. And YNAB doesn't really care about transfers since it all stays in the same pool of funds. Having said that, I use Qapital as savings and I don't spend money from that account, ever. I just transfer in and out of that. It's just nice to have a little cushion that I never miss coming out of my checking account since they're such small amounts. 

  • I wouldn't say that it goes against YNAB's principles. It's just unnecessary busy work once you're purposeful with your funds. I don't profess to know what the fees are for these services but I'm guess you'd be much better off dumping all set aside investment funds into a Vanguard 0.03% expense ratio, total stock market index fund, for example, once a month.

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