To be Budgeted
I have just moved from YNAB classic and have always used my varied earnings as a salary for a month ahead. How do I do this now and put my November earnings into the December ' To B Budgeted' ?
Dakinemaui's instructions are a great way to simulate the YNAB 4 "Income for Next Month" feature. I just wanted to leave a link to our To Be Budgeted Help Doc for those who stumble upon this thread looking for a bit more information about To Be Budgeted! :)
My preferred workflow when following Classic Rule 4:
1. Create a category called "Next Month's Income" (or something equally as clever). Referred to as NMI below.
2. Categorize paychecks to NMI as they arrive (similar to YNAB4). This gets this money out of the way usually automatically (via scheduled transactions or Payee rules).
3. Unlike YNAB4, the release of these funds is a manual process. At the end of the month, pull up the NMI transactions in All Accounts, select them all, and bulk-recategorize them as Inflow: To Be Budgeted.
4. Switch over to next month and budget the month's portion. Goals and scheduled transactions can work with the "Underfunded" Quick Budget button to make this a one-click job.
In summary: just like YNAB4 (after you create the NMI category), with the exception that you manually release those funds at month-end.
As a heads up, YNAB recommends bringing in money directly as To Be Budgeted and switching over and budgeting in next month's area immediately. Repeat every time you get money, or you risk mixing those funds up in the current month's categories, thereby shorting next month.
I'm gonna pass on the piece-meal budgeting.
The workflow I use is as follows:
1) Categorize each paycheck to TBB.
2) Immediately send TBB to the income for next month category, I keep that category at the top of the category list so it is a quick transfer.
3) At the beginning of next month I auto budget all categories which leaves TBB negative, I cover the negative TBB with the income for next month category.
Except for the fact that the category has income in the name, or at least mine does. And then when you release it to TBB, it's like it was always there anyway. It still makes it into TBB, just a little later. Plus, I happen to know that my paycheck every other week is income. 😉Otherwise, I'd quite my job... maybe. I kind of like it.