YNAB’s four rules helped me become more proactive about my spending because I checked the app before buying anything. SAMPLE: YNAB budget home screen on a desktop When I overspent on groceries for the month, I had to move money from another one of my budget categories to make up for it - which is the third rule.ĭespite several unexpected expenses during both months of my experiment, I managed to save an extra $600 using YNAB’s method. YNAB’s method gave me a reality check a few times. Using YNAB’s smartphone app to log transactions is so quick and easy - I usually got it done before even leaving the store. However, I chose to keep my accounts unlinked and manually entered transactions instead. Like Mint and Personal Capital, YNAB connects to your bank accounts to monitor your transactions. Age your money: Stuck living paycheck to paycheck? By consistently spending less than you earn, you’ll work toward using last month’s pay on this month’s expenses.Roll with the punches: Things can and will go wrong! Move money around to cover categories where you overspend.Embrace your true expenses: Set money aside every month for non-monthly expenses (property taxes, insurance premiums, holiday gifts, etc.) so that you’re ready when the bills come in.Give every dollar a job: When you receive a paycheck, assign it to your expense categories before you spend it.YNAB’s budgeting method, which is like a digital version of the envelope system, really helped me prioritize my spending and make good decisions. What’s so special about YNAB? The four rules. How to Apply the YNAB Method Using Google’s Free Budgeting Spreadsheet Years later, I frequently check both Mint and Personal Capital to make sure that I’m spending less than I earn. While in my mid-20s, I diligently tracked my income and expenses during the two years and two months that I spent aggressively paying off my $86,000 mortgage. I spent two full months testing out YNAB (You Need a Budget), a subscription-based budgeting tool, and it completely changed the way I manage my finances.īudgeting has always been one of my strengths. Credit Cards With Free Cell Phone Protection.Compare the Best Credit Card Offers Right Now.
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