Yours, Mine and Ours
Hello, I am getting ready to get started on YNAB with my boyfriend. I have my own accounts, he has his, and we have an ours account as well. He has kids as do I so some of that budgeting will be done separately. What is the best way to set up YNAB? Do we each need to have, and pay for, our own account? Or can we purchase one subscription and have separate budgets for each of us and an "ours" budget?
Thanks for the help.
One YNAB subscription supports multiple budgets. The options:
Three separate budgets: two personal and an "Ours"
One personal and one personal/joint: Just incorporate joint expenses/categories/accounts into one of the "personal" budgets if one person will be the primary budgeter of those joint expenses or you trust the other person to enter transactions correctly without mucking up the personal sections
One joint budget: easiest in YNAB, but requires more communication in person to set joint priorities
The main issue with more than one budget is dealing with the inevitable "cross-budget" spending. For instance, in the 3-budget setup, using a personal CC for a joint expense. Look into Reimbursement tracking to handle this (and will be done in both budgets). On the flip side, multiple budgets require less compromise/discussion. Given your description, I'd say the 3-budget setup is probably the way to go right now.