With YNAB one of the things you should try to do is build a cash buffer so that at some point you’ll always be a month ahead, i.e. you can budget next month’s expenses today.
But building that buffer can take a bit of time, and just leaving money sitting unallocated to a certain budget category can get both confusing and tempting.
This is how I get around it:-
September 2010 will be my baseline month for all future net worth updates. It’ll be base zero. Each month I plan to give you guys an update percentage wise how much I’ve improved on my net worth position on my road to financial recovery.
My current net worth is calculated by YNAB. I can’t use their built in reporting just yet because it really needs a few months data to start being useful.
Keep tabs with me and let’s see how much I can improve by my next net worth update in October. I’ll try and do it as close to the 1st of the month in future as possible.
I’m looking after my budget by myself from now on, with help from my brother. By help I mean he’s taking possession of my cards so I don’t fall off the wagon like I have in the past. This might seem drastic, but I’m all for it…anyhow…
I’ve never had much luck with budgeting programs; they were all too complicated for me, and I could never get them to reconcile them with my bank balance. The two biggies are Microsoft Money (no longer in development) and Quicken. Both are hopeless for a simpleton like me.
But I’ve stumbled onto a winner now! It’s called YouNeedABudget. It’s built using Adobe Air so it works on any operating system, and it also comes with an iPhone app.
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