How often do you work on your budget and reconcile? Daily/Weekly/Monthly?

For those of you who have no problems with reconciling your accounts, do you do it on a daily/weekly basis? The first few months of joining YNAB I was so exited and doing it every week and did not have any problems, then summer hit with vacations and kids home from school and that is when the problems of not being able to reconcile have started.  Over the next year I've only found myself sitting down every 4-6 weeks to categorize all my transaction and budget and assign every dollar a job. Whenever I try to reconcile my accounts that are imported into YNAB with the amounts showing on my actual bank statement and credit card statements, one or more of my them are off and don't reconcile. This has been lengthily and frustrating to print statements from credit card and bank and highlight every transactions as I clear them in YNAB. Sometimes I find what is wrong, sometimes not.  I have restarted a new budget 3 times in the past year to get a fresh start and hopefully fix the problem. Is my problem that I let 4-6 weeks go by and it really needs to be done daily? It's my goal to sit down at least once a week and I'll keep trying and I've started to make myself sit in my car and log the transactions into my phone right after going to the store and hope to make it a habit but with 4 little wiggly little kids this habit has not stuck in the past but I will keep on trying! Would love any tips in making budgeting more of a daily/weekly part of my busy life. Thanks. 

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  • My bank (and this is the same for my friends with the same bank who are also using YNAB) somehow always succeed to have more money than YNAB, no matter how careful I am when I am entering expenses. I mean, better that way than the other, but that also mean reconciling once a month.

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      • jenmas
      • jenmas
      • 3 mths ago
      • 2
      • Reported - view

      Alice if it never matches, you should probably be reconciling more often than once a month because you’re data entry is getting messed up somewhere along the way.

      Reply Like 2
      • WordTenor
      • Arranged the menu, the venue, the seating.
      • WordTenor
      • 3 mths ago
      • 4
      • Reported - view

      Alice If it is always wrong, the most likely culprit here is that you are misinterpreting the information on your bank screen and continually comparing the wrong numbers. These days, some banks have taken the government mandate to make the working balance obvious to the extreme of making it difficult to find the cleared balance (to say nothing of the fact that these balances might be called by different names by your bank, like “statement” and “avaialble”). 

      Make sure that you are looking at the balance at the bank which does not include pending transactions, usually called “cleared” or “statement” and comparing it to the cleared balance (not working) for the same account in YNAB. 

      Reply Like 4
  • I’m on YNAB daily. I reconcile daily, I need to make sure that my numbers in YNAB reflect reality. 

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  • 3 mths agoLast active
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