Just migrated and here's my experience and impressions so far.
1. The migrated budget had super-inflated values in the budget categories. I was so overwhelmed I just decided to make a fresh start. In retrospect, I probably should have just reduced those values back to what I see in my classic YNAB.
2. The fresh start has zero balances everywhere. I had to re-enter the account and category balances. Shouldn't it have entered them for me? Why zero? I think it makes more sense to use the balances as of the date I'm doing the migration.
3. This new YNAB (is nYNAB still the correct name for it?) does not include future transactions in the balances. So I had to calculate the category balances in step #2 above so that they excluded the future transactions in the month.
4. I'm still unclear on why we need the Credit Card Payments category (I mean I know what they mean but I'm wondering why I lived without them in classic YNAB). I did also have to fill them in with the CC account balances.
5. Negative balances are no longer carried over as everyone knows by now. I learned of the technique to create a tracking account for money I lend to family. The existing ones I have, I made sure I deducted from some other category (savings, unfortunately). They did come from somewhere. But in classic YNAB, I could get away with "borrowing the funds from the void" when I carried over negative balances. So I both like and dislike this change. It at least keeps me honest.
I have yet to try linking my accounts. I'm hoping it can correctly handle logins that have multiple accounts in them. I was assuming there was a separate "aggregator" URL for these logins but I don't believe that's the case. I'm curious as to how it obtains the data. I hope it's not by scraping the HTML page. But anyway, I'm looking forward to saving time with this new YNAB. Crossing my fingers that it will.
Happy New Year to all! Happy New YNAB to me!
I didn't migrate from an earlier version so I am very new to this. I've already screwed up a few times.
It took me a bit to change my mindset on how this all works. What I can say is that I think this may be a game changer for me as far as savings goes.
I spend money like a rock star....and I don't SAVE any. I don't have any debt except my new car that I bought at Christmas and my mortgage. My father passed away early 2018 and left me a bit of money.
I have been making additional lump sum payments against my mortgage, put a chunk into RSP's and put some aside for renovations to my house. I am going to pay off my car early with a bonus from work and extra car payments I will make.
I can see that this will make me more aware of my spending. I put everything on my credit card and pay it off every month but I don't really budget for anything or pay any attention to what I buy.
I have only been doing this for a few days so I am hoping I can pick up the nuances as time goes one.
Very glad I took this step and stuck with it when I didn't think it would work for me!
1: Correct, you would have to do some adjustments to your category balances after doing the export. nYNAB handles certain things very differently than YNAB4 (especially in regards to credit cards and overspending) and depending on how you used YNAB4, it doesn't always carry over cleanly. The usual recommendation is to reset all your category balances to zero, then adjust them back to the way they were in YNAB4.
2: Correct, a fresh start means you have to enter in your account balances. In most cases, people seem to use a fresh start to restart after not using YNAB for a while, so it's quite likely that account balances are inaccurate or old at that point.
3: nYNAB doesn't account for future transactions in category balances. Thi smeans that you can't budget future income ahead of actually receiving it, and it won't reduce category balances until that transaction actually hits your account. A category's available value will change to orange to warn you if you haven't set enough aside to cover scheduled/upcoming expenses though.
4: It's definitely worth it to take some time to understand how the credit card category works -- it may be worth taking a class on that subject or checking out their YouTube channel in case they have that class recorded. That's probably the biggest change that trips people up. It sounds like you have budgeted for the current balance, so that's good.
Assuming you usually pay your card in full and always budget for your purchases, the credit card's Available value (the amount available to pay off the card) should always match up with the card balance. If the card balance is -$500, you should have +$500 set aside to pay it when the bill comes due. If not, that likely means you have overspending or need to look for other errors.
5: Correct. This can be a challenging change to those who are used to YNAB4's behavior, but overall I've found that it keeps me more honest. I can't easily create debt to myself, just to make me feel better about the rest of my categories.
Yes, the migration tool has a huge bug in that category balances are not maintained. I get there are differences in the way overspending is handled, but there's absolutely no reason not to adjust the budget values to make the category balances match in the latest month. Furthermore, the CC Payment category Available is not set to agree with the implicit payment reserved in YNAB4 (difference between account and Pre-YNAB Debt category balances).
I wonder how many people tried to migrate, saw the mess the migrator made, and said "<beep> this, I'll stay with YNAB4".
I'm wondering why I lived without them in classic YNAB
The amount implicitly reserved for your payment in YNAB4 was equal to the difference between the account and Pre-YNAB Debt category balances. If your PYD was $0 (a.k.a., "paid in full" card), you could have paid whatever you wanted, because the entire balance was reserved.
On the other hand, lots of people who were not PIF screwed this up, usually paying more than they should have. This left their categories overstated and IMO, was one of the major reasons they changed the interface.
YNAB4 explicitly showed the post-payment debt (i.e., the Pre-YNAB Debt category balance), and the amount reserved for payment was implicit (had to be calculated). nYNAB reverses this to explicitly show the amount reserved for payment and leaves the post-payment debt implicit. This post-payment debt used to be shown in the Inspector but was taken out in a recent "improvement".