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Zero-Based Budgeting



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amother


 

Post Tue, Nov 11 2014, 10:57 pm
Anyone else here do it?
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amother


 

Post Sat, Nov 22 2014, 9:26 pm
We do! We use YNAB to manage everything. We like YNABs philosophy of living on the previous months income. It's so nice having that one month of income as a buffer.
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busydev




 
 
    
 

Post Sat, Nov 22 2014, 9:38 pm
Another YNABer here. I LOVE it!!! We have been using it about 6 months and its absolutely AWESOME! (We also follow all 4 YNAB rules b"h)
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amother


 

Post Sun, Nov 23 2014, 1:38 pm
This sounds very interesting. Can you explain it in more detail?
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Coke Slurpee




 
 
    
 

Post Sun, Nov 23 2014, 2:06 pm
What's YNAB?
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busydev




 
 
    
 

Post Sun, Nov 23 2014, 9:33 pm
http://www.youneedabudget.com/

Use only money you already have (dont forecast)
Rule 1. Give every dollar a job (zero based budgeting in other words)
Rule 2. Save for a rainy day (split up once or twice a year costs over the whole year, save up for repairs that prob will come)
Rule 3. Roll with the punches (when something unexpected comes up move money around)
Rule 4. Live on last month's income (can take time to get to this point)

Theres a free 34 day trial after that theres a one time $60 fee for the software. There is a great forum to help answer questions and give "chizzuk"

first we had a spreadsheet, needed more and went to quicken, wasnt working how we planned and I found YNAB (you need a budget) and it is great. we are finally really aware of every penny is going and its amazing!
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Coke Slurpee




 
 
    
 

Post Sun, Nov 23 2014, 11:31 pm
Thanx I'll check out the website.
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Strudel




 
 
    
 

Post Mon, Nov 24 2014, 12:03 pm
busydev wrote:
http://www.youneedabudget.com/

Use only money you already have (dont forecast)
Rule 1. Give every dollar a job (zero based budgeting in other words)
Rule 2. Save for a rainy day (split up once or twice a year costs over the whole year, save up for repairs that prob will come)
Rule 3. Roll with the punches (when something unexpected comes up move money around)
Rule 4. Live on last month's income (can take time to get to this point)

Theres a free 34 day trial after that theres a one time $60 fee for the software. There is a great forum to help answer questions and give "chizzuk"

first we had a spreadsheet, needed more and went to quicken, wasnt working how we planned and I found YNAB (you need a budget) and it is great. we are finally really aware of every penny is going and its amazing!




So you bought the software? Was it worth $60?
CokeSlupee and Busydev, we all live the same place. Perhaps we could meet and help each other with this?
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busydev




 
 
    
 

Post Mon, Nov 24 2014, 12:18 pm
Strudel wrote:
So you bought the software? Was it worth $60?
CokeSlupee and Busydev, we all live the same place. Perhaps we could meet and help each other with this?

Yes I did and YES it is.
I decided after about 5 days to buy it... tho we waited till after we used a month just to be sure. I also told my bro I would buy it for them as a wedding present after they check it out... of course they havent yet lol (dont worry I got them another wedding present as well)

I would totally be open to a meet (about this or stam lol- its about time we had a chi town meet...) its on my laptop so I can bring it anywhere to demo.

YNAB also has an app for smart phones and ipads (so you can check exactly how much is left in the clothing budget BEFORE you buy but while your in the store and so you can enter transactions as soon as you buy them) and can be installed on multiple computers. It uses drop box to share the info.

it doesnt pull info from your banks/cc etc which I liked because im uncomfortable with an online program having all my account info- what if mint.com gets hacked? (you can import a bank rec instead of doing it manually- I like doing it manually tho, they recommend it because the more you do yourself the more aware you are.)

So far DH and I are loving it and it also has curbed some extra spending esp cause you can change things at any time- so we budget x amount for groceries and whatever is left over at the end of the month we move to our down payment savings- which we want to grow- and whats more worth it spending $5 on that cake we dont need or $5 into our savings... some categories we carry over for months- like our twice a year car ins payment we have split so every month we set aside the same amount to cover the bill when its due. or clothing- every month we add X amount for clothing purchases (we divided by me, dh and the kids) and if I dont buy any clothing in Oct it carries over to Nov so I have more to spend. Ditto with many other expenses.

anyway its awesome. cant hurt to try it out... they also have free webinars a few times a week explaining the system which I would def recommend. you can also win the program for free (instead of paying the $60) at the webinar. any questions you can always ask (via pm or here)
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Coke Slurpee




 
 
    
 

Post Mon, Nov 24 2014, 1:22 pm
Chicago meet sounds like fun Cool and I can even make believe I'm seriously working on my budget Wink
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Coke Slurpee




 
 
    
 

Post Mon, Nov 24 2014, 7:24 pm
Ok so its a little sad we are married quite a few years and only decided a few months ago that we will/need to work on and make a budget. So we started zero based budgeting this passed month based on David Ramsey.
Is there any fundamental differences between David Ramsey and ynab?
Is one easier to use than the other?
Tia
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busydev




 
 
    
 

Post Fri, Nov 28 2014, 7:46 am
They work well together.
Alot of people who use YNAB also follow Dave Ramsey's babysteps. Ynab is a great software to help follow those steps.

If anyone is interested heres a link for 50% off YNAB (so only $30) as a black friday special!

https://secure.youneedabudget......ernal
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Coke Slurpee




 
 
    
 

Post Fri, Nov 28 2014, 9:10 am
Thank you
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