YNAB -- when should I sign up?
January 29, 2018 3:34 PM Subscribe
I know metafilter loves YNAB, and I have some mint frustrations, so I want to give it a try. But I also can tell that it's confusing enough that it's worth looking before I leap. First off, when's the best time to sign up?
Is it better to do at the beginning of the month? Right before new money reaches my account? Right after my biggest bill is subtracted from my account?
Or will it not matter at all?
Is it better to do at the beginning of the month? Right before new money reaches my account? Right after my biggest bill is subtracted from my account?
Or will it not matter at all?
I don't think it matters hugely, but the beginning of the month is nice so your data is consistent. Of course for many people that coincides with paycheck/rent etc.
Also this is just me being lazy and refusing to figure out how YNAB handles debt/credit cards (in fairness, they've changed this over the years!) but since I don't carry a balance on my cards I always pay them off before I start a fresh budget (or.. pretend to and adjust the numbers accordingly), tell YNAB they're "checking accounts", and start with a balance of $0.
posted by acidic at 4:14 PM on January 29, 2018
Also this is just me being lazy and refusing to figure out how YNAB handles debt/credit cards (in fairness, they've changed this over the years!) but since I don't carry a balance on my cards I always pay them off before I start a fresh budget (or.. pretend to and adjust the numbers accordingly), tell YNAB they're "checking accounts", and start with a balance of $0.
posted by acidic at 4:14 PM on January 29, 2018
Best answer: It does not matter. They cover this in their webinars with examples, or at least they used to. (You can take the webinar classes without buying the software or having to pay anything else.) In brief, you start by giving jobs to the dollars in your account whenever you happen to start, even if that’s $5 until payday. You then give jobs to the dollars in your account when you get paid.
This is why I like YNAB for people who don’t get paid on a regular schedule, like freelancers, or even for people who get paid weekly or biweekly and thus sometimes have different amounts of pay per calendar month. It isn’t tied to calendar months for net in/outflow calculations. It’s more of a rolling balance.
But take the webinar classes. It will help a lot.
posted by snowmentality at 4:46 PM on January 29, 2018 [1 favorite]
This is why I like YNAB for people who don’t get paid on a regular schedule, like freelancers, or even for people who get paid weekly or biweekly and thus sometimes have different amounts of pay per calendar month. It isn’t tied to calendar months for net in/outflow calculations. It’s more of a rolling balance.
But take the webinar classes. It will help a lot.
posted by snowmentality at 4:46 PM on January 29, 2018 [1 favorite]
I'd do it tonight. You get 34 days in the free trial so that'll get you from now, through February, and into March. That'll be a nice way to get a full (fullish) month, plus a few days going in and out of it.
posted by Nonsteroidal Anti-Inflammatory Drug at 5:18 PM on January 29, 2018 [4 favorites]
posted by Nonsteroidal Anti-Inflammatory Drug at 5:18 PM on January 29, 2018 [4 favorites]
I don't think it matters a lot when you start, but if you must try to time it, then I'd time it once you've gotten a paycheck and you're thinking ahead about a full "monthly cycle" of bills to pay. That being said, it's better to just get started vs. waiting for a perfect time. :)
Agree that the trial is a great time to link some accounts up, set up some budget categories, and then see/experience what the process is like for using said money in your budget categories (e.g., paying the cable bill). Largely, the software itself is intuitive... it's just a little tricky in it's "philosophy" of budgeting (link) and how it deals with credit cards.
posted by ellerhodes at 7:49 PM on January 29, 2018
Agree that the trial is a great time to link some accounts up, set up some budget categories, and then see/experience what the process is like for using said money in your budget categories (e.g., paying the cable bill). Largely, the software itself is intuitive... it's just a little tricky in it's "philosophy" of budgeting (link) and how it deals with credit cards.
posted by ellerhodes at 7:49 PM on January 29, 2018
Yeah, it kinda doesn't matter when you get started -- I do remember, though, after my last fresh start, my first month was a little janky, but I also had a weird income situation at the time; you may find it easier because (I'm assuming) you know your monthly income ahead of time.
I don't think I took the webinar, but I did read their handbook a lot, and that was enormously helpful.
posted by kalimac at 7:51 PM on January 29, 2018
I don't think I took the webinar, but I did read their handbook a lot, and that was enormously helpful.
posted by kalimac at 7:51 PM on January 29, 2018
It doesn't really matter. Your first month will probably involve some playing around and experimentation anyway, as you get used to the way YNAB handles things.
posted by neushoorn at 9:44 PM on January 29, 2018
posted by neushoorn at 9:44 PM on January 29, 2018
Best answer: Just so you know you can google a free 60/90 day trial.
posted by starlybri at 5:24 AM on January 30, 2018
posted by starlybri at 5:24 AM on January 30, 2018
Also, if you are a student, you can get a free 12-month trial. It's buried in their FAQs, but you email proof of enrollment and they email almost immediately to let you in.
posted by pixiecrinkle at 8:07 AM on January 30, 2018
posted by pixiecrinkle at 8:07 AM on January 30, 2018
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posted by SyraCarol at 4:06 PM on January 29, 2018 [1 favorite]