I just began attempting to put together my ynab budget today, and am wondering if i should wait to start until the 1st of next month. Most of my expenses have already been paid and am not sure if I should just put $0 for all the bills that have already been paid? And how do I "send" money over to the next month, if i have money left over July, how do i apply it to August? There are a lot of videos on what to do, I am just having problems on how to do it on the computer side of it. Thank you all for your help!
It's always best to start now and get familiar with the program and learn what happens at month rollover. You don't need to budget anything for bills that have already been paid. You don't need to send money to next month. Just change to next month and budget it. You can also budget it this month and it will still be there next month.
I'll just leave this here for you:
The extensive collection of videos and the live classes are really helpful.
If the bill has already been paid, then you do not need to apply anything to that category.
The first thing to focus on is what happens between NOW and the next time you get paid? If you get paid on the first then right now while setting things up you will only need to worry about what happens in the next two weeks. If all your bills are paid - great! You've got options. If you have a couple bills that are due later in the month - go ahead and budget for those. Obviously you'll also want to apply funds for any expenses that you have like groceries, gas/transportation, eating out, etc. If you know something is coming up between now and next pay day that you'll want some funds for, make sure to tuck it in somewhere. Sometimes it helps to look at the calendar to sort all of that out.
If you've got money leftover in your TBB still, after you've addressed all of the above, that's wonderful!
Now you can start deciding what to do with those funds. If you've got big bills coming up on the first, and you know your pay check won't cover everything, then start covering the next set of bills (between the next 2 pay checks). If rent/mortgage is due around the first, and it takes away most of your pay check, then it is helpful to put a portion of that aside now. I split our mortgage payment in half and set half aside with each pay check that the BF gets paid. So go through the next layer of bills that happen in the beginning of the money, and begin applying funds to cover those bills.
I hope this helps a little, it can seem over whelming and confusing at first, but you'll get the hang of it in no time.
Don't worry about what's already happened. Just make sure that the actual amount you have available is in To Be Budgeted. Then remember to ask yourself "what does this money need to do until I get more in?" Then budget into those accounts until your TBB gets to zero. "What does this money need to do?" was how I wrapped my head around the YNAB system. The fun starts when you've covered everything that needs to be covered and your TBB is still green. Then you get to figure out what to do with your extra money, like put it in a vacation fund!
Natalie Oates said:
Then remember to ask yourself "what does this money need to do until I get more in?" Then budget into those accounts until your TBB gets to zero.
I think you meant categories, not accounts.