How long did it take you to be able to do Rule 4? Live on last months income?
I just got the free trial today and while I love the system, it's frustrating because my budget is all out of whack because we are expecting to pay budgeted bills for the month on money we haven't received yet (future paychecks). Lol it's making my OCD senses tingle. I'm excited to not live paycheck to paycheck anymore basically but we obviously have work to do first.
pineapple / 12053 posts
well, we didn't get ynab to get out of debt, but to maintain our balanced budget while DH searches for jobs (after being in school for 1.5 years!) but it looks like it will be a couple months before we're truly balanced. i totally know what you mean though as i hate that our credit card is sitting there as a huge debt even though we pay it off every month!
blogger / eggplant / 11551 posts
this is one ynab rule i don't follow. we are always in the red when we budget at the beginning of each month because we don't "live on last month's income"… i don't like having that much money just sitting in my checking account. any extra buffer money i have usually goes directly into an investment or savings account.
persimmon / 1165 posts
I'm totally not there. I only enter in my bills/expenses for the week that I know are due with that week's paycheck. So, my budget never looks complete until the end of the month.
I read on their blog that this is how they meant the program to be used, but I guess some people enter everything at the beginning of the month and are in the "red." Once they equal 0 or into the green, that's how they gauge success for the month.
pear / 1998 posts
We aren't there yet, but we are close. We have the start of our buffer in a savings account, but it is still linked to our YNAB budget. We have been using it for about 6 months, and I expect to be "fully buffered" in another 4 months.
It sounds like you are forecasting instead of budgeting. You should check out the YNAB blog. It took me a while to switch my thinking from forecasting and expense tracking to real budgeting.
GOLD / eggplant / 11517 posts
@sunshineandsushi: ditto. My understanding is you really shouldnt budget anything until the income has arrived.
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