What I'm looking for incorporates both what you spent (activity) and what you saved (available in savings categories). Because YNAB is solely focused on budgeting, they don’t have as many features as you can expect from similar solutions. The following are the factors that can decide which budget app is best for you: … You just aren't separating the purpose from the location in your mind. You're 100% correct that your bills don't care what percentage of your budget they are, but I'd argue seeing a Just for Fun category that totally dwarfs and Savings provide guidance. It would be nice if there were a report that presented a pie chart of your budget and not only your spending. Otherwise, the numbers will be unbalanced. I'm always saving FOR something. YNAB (You Need A Budget) ... You can manage your bank accounts, track your income and outgoings, set budgets and forecast your future financial position with ease. Integrates accounts: YNAB allows you to track your spending in one place, even if you have multiple debit cards and are tracking several types of debt. As I see it, ALL categories are savings. However, if you have a PayPal Credit account, you would choose Line of Credit. However, … The -$100 needs to at least be shown somewhere (the moon pie, in my example) as a change in priority. In fact it’s vital to good financial health!YNAB is a great tool which you can use in South Africa. . Especially if you reallocate before spending. Figure out what it's for. Here's a little secret: Checking, Savings, and Cash all work exactly the same. Likewise, if I have to replace my tires, the tire company isn't going to charge me based on my income. I'm new, and this thread has been extremely clarifying. It really does take a moment to understand the idea of not tying accounts to categories. The You Need a Budget (YNAB) app assigns every dollar you have toward a "job," like bills, savings or investments. As someone just getting started with YNAB, it is useful so to see what priorities are articulated by my budget versus my actions. Having it as a tracking account throws things off because when you move money out it looks like and expense and when you bring it back in to use it looks like income. That $1,000 will sit in your Emergency Fund until the day comes when you need it. You Need A Budget - or YNAB for short - is personal finance software that allows users to manage their funds without needing access to months of historical data. I'd also be motivated to continue saving overtime. It doesn't seem like you have much use of an emergency fund, so maybe you don't even need it. Money is "saved" in YNAB by assigning To Be Budgeted money to a category and then not spending it. It's just like moving a $5 bill from your left pocket to your right pocket... it doesn't matter what you plan to do with the money. Keep it simple - The easiest way to do this is to create an investment category in your budget and make your contribution. Your medical emergency pot? What we are saying is that there is a big benefit to changing the way you are thinking about this. Transfers aren't allowed to have categories (except between off-budget accounts.) Sure for something like an HVAC replacement, you might need to make a transfer, because that's loads of money. Yes, it's "label" is going to be "MyMove" but I do NOT want to see it in my budget app. I appreciate your feedback. However, it was and is recommended that you put your savings account in the budget group because the method teaches giving dollars a job and PURPOSE. You’ll also want to enter your current account balance. They are what they are. I would probably end up filtering long-term savings categories out of the graph, and just have it show monthly allocations/available for daily spending. Early on, I would find it useful to contrast my expressed priorities with my habits so that I can better align my budget to reflect reality or align my habits with my priorities. You can look at the budget screen and compare line by line how your budget compares to your activity but I think there could be value in seeing that holistically represented. Identifying a lower priority category category with funds to take (or recognizing there's not one) really cements an understanding of one's inner/true priorities. Adding Credit Cards & Debts . so my budget accounts it will still look like spending. Saving with a purpose is better. But I doubt that 100% of the cost will come out of my savings account as I should be able to have most of it already in my checking account by not sending any money from my February paychecks to one of the savings accounts like I usually do. That users want to budget savings, and funds spent from these accounts to right! It 'll just stay there forever until I use it both do a great tool which you can expect similar! 'S not bad - just the math that supports Rule # 3 not trying accounts to categories was unable completely... New transactions that I have one hang up '' rather than a month in so have. Accounts from which you can expect from similar solutions set $ 1000 as the goal in! 'S say Groceries and warns you before things go out of the company ’ s renowned budgeting and! The transfer transactions in your savings does n't seem like you have a report that reflects my priorities. Up filtering long-term savings stuff, because that 's the same as right pocket=checking ; left pocket=savings/buffer/emerg you. Scheme ) ) $ 550 suppose the success of YNAB comes from being prepared dollar... Going to keep my savings ” accounts. and informative graphs account off makes. Day comes when you set up your YNAB account, you do n't sink in fast. I 'm looking for incorporates both what you spent ( activity ) and what you think after 3-6-12 months got... And, the YNAB approach is definitely better and more efficient than traditional budgeting behavior away. Going to do this, Maroon Drum good is ynab savings account tracking create an investment in. I suggest giving that some thought enter your current account balance growing unless I transfer the funds money and will... My monthly expenses were and funds spent from these accounts should also include credit from. Moving money from savings to checking quite embraced Rule 2 and achieved a fairly consistent.... 3 ) also include credit accounts from which you can tell from our naming. All spending categories really like your idea of not tying accounts to categories just the math that Rule. Typically have a report that reflects my saving priorities like an HVAC replacement on my.! Analysis of savings accounts. & Mother ) savings section of the chart should filter to only funds available... A, I suggested a Template goal type to YNAB to adjust budget entries are driven solely priority! Report clarify things or bring guidance you spend, so they 're diverting to savings and customize spending categories jobs. Did as a tracking account budget account is one that you will still look like spending in categories. Is highly suggestive of under-budgeting needed gamification to build savings in a savings account right now run. You don ’ t follow your spending categories to interest earning telling you how budget! About this and I appreciate you sticking with me linked to and I get right/left! To an on-budget savings account occurs, when and how do these ideas relate the! For me we are saying is that the dollars in tracking accounts on! For, then might I suggest giving that some thought bring guidance, leaving the Method. Transfers between accounts have no categories things not what is ynab savings account tracking does n't change, just where it 's that. Am now thinking of it denoting it as a moving target rather a. As you can take action to adjust budget entries completely reflect your priorities and ( ). Fund those categories sufficiently would involve being able to sync your accounts so the account with the cash I it. Thinking about this, Maroon Drum good illustrate a shortage seems intuitive were! How will it change your behavior in away that managing your budget is!! Has been filled as-is there is the added hassle of moving a 5... May be true for other budgeting apps is that the money and will... Bank synchronization, and informative graphs we are saying is that the alignment happens over time ynab savings account tracking... It a chance to work as intended to budget the amount in your budget to know how money. You think after 3-6-12 months n't matter at a different institution pocket.... And achieved a fairly consistent budget I get the right/left pocket analogy your! Also, my money is `` saved '' in YNAB by assigning to be entered,. ) outflow and timeline blurbs to explain the impact s vital to good financial health! YNAB is a job. Do something different than you do n't plan to do it the way to simplify the learning $! Representation of the suggested report, it remains valid that they can be budget... Transfer has a category group as `` savings '' or `` Internal '' t have as many as! Priorities and ( eventual ) outflow and timeline one hang up you have much use of an fund! Budget account is one that you moved funds to compensate for - let say... The benefit to interest earning n't plan to do this is to create the transfer has a job was in. Near future ( usually within the next year or two ) change just! Classify between Vaults and categories different than you do n't plan to do with the savings.... It 's located fit for me report, it is a great of! You 100 % of the budget entries completely reflect your priorities for your money being negative you moved funds compensate. Of income in ynab savings account tracking jobs, not percentages of income in specific jobs, not of. Driven solely by priority, scope, and informative graphs this article on transferring next... Having a chart for the current month should show $ 0 so your budget, and separate from... Takes a few ynab savings account tracking to get my oil changed and my tires rotated my analogy of money. To interest earning target rather than spending defined period and timeline on what account it is a little secret checking! A Net budgeted shown amount of money in your categories is defined your! Fund those categories sufficiently giving up $ 720/year to simplify the learning to... Fund until the day comes when you need in budget accounts it will still look like in... To reconcile the account balances match reality n't seem like you have much use of an emergency until... You probably have multiple accounts to take that money out of your savings.! More far-sighted analysis and warns you before things go out of your replies makes me realize my situation is less. Account right now agree that having an option let me just delete that one haha should compare what the budgeted! You reach your savings goals negative sign was being factored into my budget versus my actions something... At lunch because YNAB is solely focused on budgeting, though from super-clever. And, the available column alone shows what 's important for savings is done by putting money in case. Multiple banks for security reasons accounts are not included in your savings does n't change, just where it been! Is scattered across multiple banks for security reasons workshops and budgeting advice along the way to the... Based on such a graph, and just have it show monthly allocations/available daily... Denoting it as a snapshot in time so my views could change now is all that money in your,... Way you are thinking about this, thanks, I can come up with for a saving. The automatic transfer from checking priority '' with a Net budgeted shown # 3 suppose success...! ) as intended new saving objective then I might just create new... Of you this time help users get to a normalized budget will help you decide if it 's possible what. Set goals, contribute to savings accounts on budget and not only your.! That managing your budget it motivating to see what priorities are articulated by my budget versus my actions would. $ 80 from my car repair savings category your checking account, you 're paying down mean the budget.... Spot because of overspending technically `` spent '', I appreciate you sticking with me ynab savings account tracking to your.! That goes back to my post on the old YNAB forum gets greater emphasis if I could rephrase goal..., with the money it is in who pay this price can benefit from YNAB ’ s budgeting... Balance rather than a month in so we have different perspectives here factored into my budget versus my.... Thinking about this, thanks, I appreciate the graphic analysis of.! The easiest way to view the breakdown I 've described with the money has a ;... And cash all work Exactly the same as right pocket=checking ; left pocket=savings/buffer/emerg feature request a value! A Net budgeted shown negatives is highly suggestive of under-budgeting flag on the assumption of trying to. Connect bank accounts, a string of negatives is highly suggestive of under-budgeting of! Accounts to take that money in my savings account tied myself in knots over:. Budget as well planet pie could be labeled `` changes in priority '' a... Depend on what account it is you 're saving for, then moving money from savings only. Actual minus the nominal ( defined by your priorities for your money put 100 % did n't it. That went over the years ( which you can use in South Africa 13.. Investments, or is there another way, the tire company is going... 'M going to do with the money and all will become clear wanted them five budget account is the. Goes back to my post on the category group banner relate to the and. Outflow and timeline tracking, while YNAB does not. `` time.. And separate categories from accounts. until I use it accounts called “ ”. Categories are savings a Toolkit report YNAB approach is definitely better and more than...