2 weeks with YNAB -- Win
So, I've been with the system since late January, and so far, I'd say it's mostly been good. I asked a couple questions in the forums, and got great and helpful responses back. One of the things that kept coming back at me was "enter your transactions as soon as you purchase something." At first, I kinda "pshaw'd" the recommendation, because I don't have a phone that will run the app, and my wife is the one who does most of the buying of stuff. Groceries, household, etc. And I didn't think she'd really want to do it, so I just kinda figured I'd let the automatic transaction importing happen, and assign them then.
Of course, then you're never quite sure specifically what category it goes to, so you leave it until you can meet together and discuss, and then it's a couple weeks gone by. When we were doing Mvelopes, we'd call these occasional meetings "Doing receipts" where she'd pull out all the receipts from her wallet, and we'd go through and assign the proper categories to all the downloaded transactions.
But I decided, "Well, why not? It's a new program, a new system, let's give it a try." So I had a quick talk with her, and said, "You know, with this new budget app, they're saying that it works better if as soon as you buy something (or at least that day) you actually put it into the budget as a manual transaction, and assign the category." She was open to the idea, and said, "Just show me what to do, and I'll do it." So I sat down with her, and showed her the very simple process of creating a new transaction and assigning a category, and dollar amount to it.
The next day, she went grocery shopping, got some clothes for the boys, and something else. By the time I got home, they were already in the budget! And that night, on her way home from work, she texted me, and said "I just got gas, Can you please put $48.39 into YNAB?" So I did.
So, I'm still kinda tweaking things, and making sure goals and recurring transactions are set up correctly, moving money from some of the savings accounts into my Money Market account at the Credit Union, and waiting for my wife's paycheck, and my Bonus check, which should come end of next week. Looking forward to getting some of my goals filled up really quickly on that, and putting some extra into my 2 smaller debts.
Thanks for being a friendly helpful bunch of people, I'm sure I'll have other questions, but I wanted to share a win, we're actually getting the budget updated each day. Last night, I asked her, "So, did you buy anything that needs to go in the budget?" "Nope, but if I did, I would have put it in."
A side effect of adding everything immediately is you can use the app to check your account balance. It’s amazing to have such a close up view of where all your money is for so little effort.
You are going to love payday... it’s so great to assign all your money and feel in control, rather than just spending it and then feeling a bit sick!Reply
I am in the process of just setting our budget up and am a bit inspired by your story about working together with your spouse. I hope it goes as well when I show my hubby, who is NOT the computer/techy person in the marriage. I loaded it on his phone, though, and am hopeful he will want to "play" with it. Thanks for sharing and glad it's working for you both.Reply