I realize this topic is a little old but I would like some advice. That way you won't have to manually split things. I realized that it was the sum of all transactions assigned to the category “To Be Budgeted” and have a date in the same month, which actually makes sense. This approach makes more sense if you FULLY fund a given category from a given check (avoiding duplicates). Do I have to manually adjust those amounts to equal my goals? I don't have the extra money to bring it current before month end. Most people do their budgeting on the web app, and use the phone to go, "Do I have enough to buy this Nintendo Switch that is on sale?" This also helps when assigning the category since you can't see the "goal" for that category when you are assigning money to it. By using our services, you agree to our use of cookies, By purchasing this item, you are transacting with Google Payments and agreeing to the Google Payments. I understand this can defeat the purpose of the budget but it fits the way we live and has worked well for us. I even get replies over the weekend. Note if you put this amount in all your category names, you pretty much have the funding plan from Mvelopes except it doesn't help you to automate anything. This is called a budget template. When you use the quick budget, you can choose all categories (the default) or select individual categories or choose a category group to fund those categories all at once. I’m listing the sections below in the order that I did them/discovered them. Khaki Storm Thanks for the tip. Tip: if the reimbursement category turns green from the reimbursement, move those funds to the appropriate CC Payment category. Let's say thats $500 a month, but you get $250 of that from your first paycheck and $250 from the next. Period. And like I said, support is wonderful, and that combined with a well-built product with additional features like auto-assigned categories and the ability to delete transactions, convinced me to switch to YNAB. If you are using Mvelopes 4 on Android and want to avoid an annoying extra step to keep using the app, keep reading! YNAB is completely the opposite. However the FFX  number isn't terribly important in and of itself. I want to be able to replicate it as close as possible. Thanks for the tip. It's not that you don't plan based on your income and based on what you know is coming in, but it's that going "I make x therefore I will budget y" is often the wrong road to start going down. Additionally, reports remain accurate (the transactions net to $0). I figured that as well (includes amount from amount budgeted in future for previous month). How do I tell it where to put my paycheck and what to hold off on until next check? I have been chatting with support (they are really fantastic - just start a conversation within the app to ask questions and they are happy to help and provide very detailed responses). And sometimes I did not catch duplicate transactions and I would end up in a situation where Mvelopes said I spent more than I did, and I ended up creating offset accounts and envelopes to try and fix it. And best of all I saved a step - no need to "sweep". I start with the category groups that are critical (e.g. This follows my train of thought in setting up and learning how to use the YNAB application. If you are encountering any problems, please let us know by contacting our live chat support by clicking on the “Help” button on the Mvelopes homepage. Since iOS 5 was released last week we have received a few reports of Mvelopes users having problems logging into the Mvelopes app when using the new OS on their iPhones. - Mvelopes Basic Monthly -$5.99/mo or $59.99/yr - Unlimited Envelopes, Unlimited Accounts, Live Chat Support. I think where you are struggling is you are trying to "pay yourself back" instead of "taking the money you have and determine where you can spend it. This is just like having a saved funding plan in Mvelopes. Thank you! I would definitely recommend setting up tour budget on a tablet or the web version - setting up on your phone will be harder. The default is to pay the credit card in total each month to avoid building up debt. Bank syncing and automatic transaction categorization make it easy to stick … But after using YNAB (about 6 months now), I realized that letting categories go negative is very misleading. And I have yet to find a duplicate transaction in YNAB, but if it does happen at least I can delete it myself. This is why I'm suggesting grouping your categories into groups based upon how you want to fund them, so you can easily fund them when a paycheck comes in. Example, you have $1000, with $500 budgeted to the current month and $500 budgeted to next month. All income is categorized as "Inflow: To Be Budgeted", then budgeted out to your categories until the TBB is zero. Since I always pay my credit card balance off each month, I simply budget the amount that YNAB tells me, and it works great. It is helpful to put categories in groups that are funded in the same way (e.g. I usually like to check my transactions this daily, so this is a bit annoying. Create the budget for a year out on the budget screen. The indication of a potential problem is if the current TBB is not $1. I'm no expert but I'm up to help if I can. I am essentally waiting to reimburse myself. This caused YNAB to set the incorrect goal amount to budget for the credit card payment. It’s finally here (again!) UPDATE on Sweeping: I discovered that is really not necessary to "Sweep" like I used to do in Mvelopes. As a result, my wife and I refinanced our home, we reduced our utility bills by cutting electricity and water usage, and we switched cell phone carriers. 3. Now for myself, I cannot afford to completely fund all categories until all paychecks are received at the end of the month. While it may be tough, cutting expenses here and there to achieve 30 days is very liberating. I know that the goals are a workaround but it doesn't quite have the same functionality. When my husband or I get paid, I go down the line and choose which categories get money, out of whatever's available in TBB. This is where extra money goes after everything else has been budgeted for, and don’t worry I must have over 50-75 categories where things are budgeted separately or goals are built. So... now I need to enter what WAS my budget (in Mvelopes) for November. This allowed me to take care of overspending and underspending and take the total difference and put it somewhere. YNAB support and education seem much better. This is where goals become very useful. When you use the quick budget feature, and choose "underfunded", the system will calculate the difference and add another $420 to that category (e.g. Home Community Tips & Tricks. Also what is the Toolkit Extension? You then have check-specific categories in each check group. This will automatically take your paycheck in “To Be Budgeted” and fund the amounts using your category goals. In Mvelopes, I was not used to doing this. With Mvelopes, you can certainly do the latter. They say when it reaches 30 days it's a game changer, and I'll tell you it certainly is. Bank and Credit Card Accounts: Next I connected my bank and credit card accounts. Plus. A "monthly contribution" savings goal says that you want to set aside a fixed amount each month to save, regardless of what was spent previously. I just need to track the money paying them off in Excel each month and keep the total correct in the offset fund (whatever I call it). When I would make a credit card payment in Mvelopes, I would enter a pending transaction so that my debt was reduced (since I would often schedule this payment to happen later in the month). Those available balances will remain in Feb. March 13 at 8:10 AM. If I do that, won’t a balance become available in the category when the payment is recorded? The reason why this was important to me at first was because I had no idea where this number was coming from. By doing it this way, by the time the end of them month comes around, it’s already funded for you. Beautiful and very exciting! Reimbursements: you should categorize the reimbursement to the same category. The nice thing about YNAB is that the rules automatically set themselves up as you start assigning categories (you don’t have to set them up yourself like you did in Mvelopes 4), and the next time a transaction comes in, the category is automatically assigned and you just need to approve the transaction. Art Assuming no cash overspending, a current TBB of $1 guarantees the future TBB is also $1. I have a goal for my emergency fund and I like to keep it at a certain amount (in case something tragic happens and need cash to pay for a hospital bill or something like that). That can lead to some pretty serious problems with your finances. If you don't have enough to cover the entire month, budget as far as that money will take you. An accidental entry of $444 in some category in the current month will leave TBB at $0, rather than showing -$444! Then on March 5 when your paycheck arrives, you can fund those categories using Quick Budget. and if no, to move money quickly from one category to another so that the Nintendo Switch can be bought. Although the “To Be Budgeted” amount was negative, when I looked at the current month (i.e. With the help of the YNAB support team, I realized that what I really wanted to do was to set a monthly goal for each category for the amount I budgeted in Mvelopes. Wait until you actually have it before hitting the Underfunded button in the new month's area. This method is only recommended when the reimbursable expense occurred on a credit card. Thanks Art . YAY! Mvelopes Personal Finance Trainer: Quarterly Sessions *Risk Free Guarantee: Mvelopes Complete has helped thousands of people fix their finances. If you setup goals or scheduled transactions, the SECOND check can be budgeted with the Underfunded Quick Budget button. When launching the Mvelopes application, you may be presented with an alert box that says “Channel disconnected”. (The drawback is it's hard to find these subsets, and clarity suffers as well.). So much easier and user friendly than the other one was, at least for me. Thanks! Art That makes sense. I HIGHLY recommend you look up Nick True's videos about YNAB on YouTube. I have tried labeling the "categories" with a description that lets me know but it is a lot a work and can be hard to fully understand. Honestly I would try it different ways to see which works best for you. YNAB is designed (and encourages you) to pull money from other categories when overspending occurs, which forces you to make decisions as to where you can actually spend your money. This will offset that expense, and money will be moved to your Credit Card Payment category to be set aside for payment. Now I am trying to figure out how to keep the same budget every month like I had in the budget page of envelopes. groceries, eating out, etc.). Yes, once you receive additional money. UPDATE: Mvelopes should now be working. So what I started doing is funding category groups based upon importance. Doing it this way would simply mean that I have a budgeted amount in YNAB of $0 until they're positive again. When you receive new income, instead of letting income accumulate in the “Unallocated Money” envelope in Mvelopes, I immediately assign any new income that shows up in the “To Be Budgeted” category to next month’s budget. Honestly I haven’t tried this yet (waiting until Nov 1 to try) but if this works I may not even have to sweep (ie use the option “set available amounts to 0”) to reclaim unused budgeted funds. Creekside Simplicity I think the one feature I miss most (mostly because I've gotten to the point where I'm a month ahead, so I don't need multiple funding plans) is the "sweep" feature, where you could pick a bunch of envelopes and say "Sweep all remaining balances from these into envelope X". Once I forced myself to accept that, and instead imagine a big pot of money from which I fill all our envelopes, it became significantly simpler. I was used to saved budgets and funding plans in Mvelopes. Mvelopes 4 is still a Flash application which will have inherent slowness; so please email customer.support@mvelopes.com if you’d like to request a migration to Mvelopes 5. I am trying to understand if I can make the underbudgeted feature work for me. This leads to further prioritization and spending reduction so money is actually available for the things that matter. I found the answer I needed to carry over the negative category. My wife and I both receive paychecks bi-weekly, so every other week, I go into YNAB and start assigning that income to categories in next month’s budget. For example, my HOA fees are $150 every 6 months, due in June and December, so I budget $25/month and let the envelope accumulate over time. Alaskan Otter I contacted support about this and their recommendation was to create goals for each category. This allows you to always maintain TBB at $0 as recommended but avoids all the problems that are associated with budgeting into the future - the stealing from the future issue, having to flit between different months, having to make too many changes if plans change, etc. Usually, the bill would be slightly more (rarely less), and I would then adjust the monthly budget so that I’m budgeting the right amount each month. I just saw your post so I figured I would put in my two cents. Wonderful guide. Instead in YNAB, you immediately correct overspending for a category, and you immediately fund categories when you receive new income, and you manage your budgeting with goals for each category. This accomplishes the same result. I originally had everything setup as "monthly" goals, but once I realized how the "underfunded" option works when using Quick Budget to fund the next month, I realized that if I changed the goal type everything funded exactly the way I expected. It will then automatically fund each envelope based upon your goal. Again, I know that defeats the purpose but it has always worked for us when we had to do it. In YNAB, I discovered that YNAB wants you to budget for your credit card payment, which the amount comes out of your “To Be Budgeted” amount. The only thing I miss so far is the 'funding plan', because I could play with all the numbers until my amount to be budgeted = 0, and then just hit 'fund'. Create & track support tickets, Discover Knowledge base articles, Get help. Vibrant That's the trick I was looking for. For instance, if we are adding funds to an envelope to carry over so we can pay a quarterly bill, it would be there next month. I am a couple weeks into my trial so I need to know if it can work before I have to decide whether to make the move or not. Just go down there list, budgeting the per-check amount. Or can I enter them all ahead of time and then when the money drops into my account, just... this is where I get lost. This is a little bit of extra work, but I found that it does two things: (1) it prevents you from spending that money elsewhere, and (2) when you start the next month, it’s already funded for you. I am not a beta tester, and I need my stuff to work. FWIW, just search All Accounts for TBB if you want to know what you brought in. FYI: our batch update for bank accounts did not run last night. envelope) when you use the quickbudget and select the "underfunded" feature to fund your categories. Let's say you start March and you have available balances in categories. I hope that others who are looking to switch from Mvelopes to YNAB finds this information helpful. I used to use Mvelopes, but they rushed out version 5 and it’s absolute garbage. The reality is you ALREADY sent off money that was earmarked for some other purpose. are of the same importance) so that you can select all categories in that group and fund them with one click. Each time someone gets paid, that money just goes into "To Be Budgeted" (TBB). and fund those first. Mvelopes is a solid personal finance tool for household budgeting. I'm currently at 91 days and climbing. It seemed so loosey-goosey! The Quick Budget feature is for the full month. But if you really want to see where you are re: budgeted vs goals on mobile, that's where to find it. Nice summary. So if you monthly spending goal was $250, the system will budget $210 ($250 monthly spending goal March - $40 available balance Feb) so that you reach your target available balance of $250 for March. Please check back in the morning for an update on social media. So it’s not a generic “savings” category. My advice would be to divide your categories into groups based upon your Mvelopes funding plan for each paycheck, and do this until you can get to the point when you can fund an entire month's worth of bills at the start of the month. Even if this means you have to wait for your first check in February and then go back a month and use that money in TBB to zero up negatives from January, so be it. You can have negative balances in YNAB, but you will want to zero them up before you move to the next month's budgeting, or your numbers will be off and you'll get yourself in trouble. Once you complete a full month and start a new month fresh, it should be okay. I often tweak it as the year rolls on too and then adjust the funding plan. When TBB = $0, you will NOT have any obvious indication if you've double-booked funds between now and in the future. But honestly, Mvelopes had the same problem and it has something to do with Capital One's recent change in security requirements (its news all over Google). Then I would take a saved budget and use that to fund my envelopes. I had no idea where this number was coming from. I'm moving from MV4. Car replacement? I started by entering the amount I budget each month in Mvelopes, but I could not figure out how to “fund” the next month. You still have to approve the incoming transactions, but I like this feature because if I don't recognize an expense, I can ask my wife if she recognizes it. Support is wonderful, and when they say they typically reply in a day, they really do. If you don't receive your paycheck until March 5, then from March 1 to March 5, you can only spend what you have in your available categories. It appears to me that this will act just like the funding plan did in Mvelopes. vacation, holidays, etc.). This fixed YNAB's total calculations. Your Bills, Your Spouse's Bills). Finish when you get more money. Being able to set this amount for all months or adjust for certain months is perfect for me. The monthly contribution goal is for saving up a fixed amount each month. It's best to just jump in with both feet and not try to make YNAB fit whatever you've been doing before--if you're used to thinking "here's how much I'll make this month and does my plan fit within that" you'll probably want to tweak that a little bit to get the most out of YNAB with the least frustration. Because honestly, I'm not seeing how it doesn't devolve into chaos of always just putting out fires (i.e. Once you have all your goals setup for your budget categories, you can easily using the quick budget button on your phone or tablet to apply your budget in the new month. I recently discovered tracking BA budgeting accounts so I may link my other financial accounts to see if I can total up net worth. If this is the case, I would recommend that you don't fund Groceries until later in the month and let the category go negative. Just know right now that this operates a little differently - but I found most differences boil down to terminology. Since I had already funded my envelopes in Mvelopes for October, I had to subtract out one monthly payment for each envelope carrying a balance and enter that into the previous month (i.e. One add: the reports aren't great so add consistent details to the memo field for quick summaries later. So that's why I made the comment about it being easier to just let go of other budgeting methods wholesale. It’s so nice being able to reconcile and delete things if you want. I finally hit a tipping point with Mvelopes, too. YNAB will automatically categorize based on Payee, so you will be constantly fighting the tool and making errors. In Mvelopes, I made sure that my credit card envelope always showed my current balance. If you're still having login troubles, please contact support at customer.support@mvelopes.com. Most of the time, our envelopes are funded with different amounts from all of our different checks throughout the month depending on what time of month the bills are due. In Mvelopes terms, you are sweeping and funding in real-time, which I think gives you a better picture as to where you stand financially. Get January all cleaned up, then start February with whatever's in TBB. (Actually, the recommended approach is to reallocate BEFORE overspending.). 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