YNAB Credit Card Guide (All You Need to Know)
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- Опубліковано 18 жов 2024
- A step-by-step guide to handling credit cards inside YNAB. This tutorial will walk you through every single detail of using credit cards with YNAB.
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While I love YNAB, unfortunately, it can be pretty confusing. A lot of people will sign up only to get quickly frustrated and then give up never to return. And how YNAB handles credit cards is probably the most confusing aspect of the program. For some reason, it just isn't intuitive for most people, despite the fact that YNAB handles credit cards in the most realistic way possible.
I've never seen another budgeting program out there treat credit cards how they work in real life... except for YNAB. When I finally understand this, it sold me on the program and made me an instant fan.
I hope that this video will do the same for you.
In this video I'll cover:
How to set up your YNAB accounts
How to deal with your starting credit card balance
Using YNAB's goal function to pay off your credit card
How YNAB treats credit card transactions
The difference between debit & credit and how YNAB handles them
How to deal with overspending on a credit card
Adding credit card interest to YNAB
Making payments towards your credit cards
A pro tip for never missing a payment
This tutorial truly is everything you need to know about YNAB and credit cards. I hope you learn something and be sure to leave a comment with any questions you have.
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Quick Jump To Video Sections
0:29 - Setting up credit card accounts
1:36 - Covering the starting credit card balance
3:15 - Setting a goal to pay off your credit card
5:53 - How credit card transactions work
7:36 - Debit vs. Credit transactions in YNAB
13:32 - Credit card balance vs. Available balance
15:00 - Handling overspending on a credit card
22:42 - Dealing with credit card interest
26:12 - Making a payment towards your credit card in YNAB
29:03 - Making multiple credit card payments
29:17 - Pro tip for remembering your payment due date
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Nick, after struggling to realize that my "mental" budget was really disconnected to reality I looked around for ways to get a hold of my spending. I tried Mint and it didn‘t really work for me.
After watching your videos I gave YNAB a shot and after a month of free trial, I was almost excited to spend the money on this product. Now after almost 6 months in, I have watched your videos countless time, I don‘t even google YNAB questions anymore, I just look for the appropriate video of yours.
I agree with many others by saying YNAB should include these videos in their tutorials. Your videos have changed the way I look at my money and spending.
Thank you!
Hey Nick,
You're killing it man. I have tried three times in the past to utilize YNAB to help me with my financial responsibilities. You are the first person that has been able to explain this program to me effectively.
From the bottom of my wallet,
Thank you
haha, glad the videos are helpful for you Conner! That's certainly the goal. Good luck YNABing man.
I'm on my third time too! All the best man. Hope you're still on it!
@@mappedoutmoney i tried probably 10 times to start ynab during the course of a whole year (and paid for it too) and kept giving up but your videos helped me a lot and im finally doing it thanks
I dont mean to be off topic but does anybody know of a trick to log back into an instagram account?
I was stupid forgot the account password. I would love any assistance you can give me!
@@fabiandexter8550 yeah you hit the I forgot password and reset it using the link on your email. Oh wait you're just a scammer haha
Dang, Nick. You are so much better at explaining than the YNAB tutorials. Thanks!
haha, no problem Barbara! Glad the videos are helpful for you!
For real. This has been the biggest obstacle to me sticking with it and he explained it so well
You are insanely good at explaining things. Thank you sooo much!
haha, Thanks Chris! I'm glad the video was helpful for you man.
Hey Nick,
I've been trying out YNAB over the last couple of weeks and I have to say that your two videos have convinced me to purchase the subscription. Those two videos are by far the best ones I have come across for simply describing the process of using YNAB correctly. I was having all types of problems figuring things out until last night. I watched many other videos but for some reason yours really clicked with me and I'm pretty confident that I can use the software to meet my needs now.
Your other videos are pretty great too but I feel like these YNAB videos are top quality, standout content. Thanks so much for making these!
Thanks for the kind words! This right here is literally what I do this for.
And yeah, I put a lot of time into the YNAB videos haha. I'm hoping that I can continue to carve out time to put this effort into my other YNAB ones as well :) Seriously, I'm so pumped that these were helpful and I really appreciate you taking the time to let me know.
Best of luck with YNAB! Let me know how you're doing down the road and feel free to ask any questions if you need to!
lb4 I started at the end of jan, exact same here eh
Looks like you got here a year ago! Wondering if you’re still using it and how it’s going
I was so ready to give up on YNAB until I saw these videos. YNAB needs to give you some sort of commission, Nick! lol
@@matthewheadland7307 Sorry, this is a really late reply. I do still use YNAB. It has been my number one financial savior.
I've been using YNAB for almost a year but just recently switched to using a credit card for most transactions. This video was incredibly helpful! I fully understand now, and this video answered a question about why a couple numbers weren't matching in my budget. Fantastic explanations, great job!
Awesome Spencer, so glad that the video was helpful. Appreciate you leaving a comment! :)
Video is 1 1/2 years old and still very applicable. Best YNAB video on credit cards I've seen! Been using YNAB for 3 years and never could seem to get some parts of CC correct. You've provided the missing piece of the puzzle and I feel much more confident about using YNAB. Subscribed and off to watch more of your videos.
Thank you! Like many subscriber comments I signed up to YNAB and was about to give up on it after watching all of there video tutorials but decided to give it one more chance when I googled YNAB tutorials and found your content and am now convinced to purchase the program. I only wish I would have found this before I subscribed and gone through your link so you would have received the free month. By the looks of the comments YNAB owes you a lot for the amount of users that have stayed with them do to you. Keep up the great work and I look forward to checking out the rest of you content on your channel! :)
Thanks Tanya! I really appreciate the kind words :) That means a ton.
I'm so glad the tutorials have been helpful for you! Let me know if there's ever anything I can do to help!
I appreciate you taking the time to write in and let me know that it was helpful.
I agree with Tanya! Thank you so much!
Finally credit cards explained!! The official YNAB videos don't cut it, but your videos are so clear and comprehensive. I was ready to quit YNAB before my free 2 months expired, but now will continue to use it. Keep up the great work,Nick!
So glad to hear that Kurtiszone! I really appreciate you watching and taking the time to comment and let me know that the video was helpful for you. Good luck with YNAB and let me know if there's ever anything else I can help with!
For reference, you can download my YNAB Getting Started Checklist here: mappedoutmoney.com/ynab-checklist/
If you want to skip around to the sections you need most, here's the timestamps :)
0:29 - Setting up credit card accounts
1:36 - Covering the starting credit card balance
3:15 - Setting a goal to pay off your credit card
5:53 - How credit card transactions work
7:36 - Debit vs. Credit transactions in YNAB
13:32 - Credit card balance vs. Available balance
15:00 - Handling overspending on a credit card
22:42 - Dealing with credit card interest
26:12 - Making a payment towards your credit card in YNAB
29:03 - Making multiple credit card payments
29:17 - Pro tip for remembering your payment due date
Nick, I tried YNAB a few years ago and never got the hang of it. Recently noticed my spending habits weren't working and researched Mint, Quicken and YNAB and once again felt YNAB was the best solution for me. I appreciate the time you have taken to help us understand it. YNAB can be confusing but your video's really help put it in perspective. Thanks, you've helped me and I'll continue working the program. You're awesome dude!
Found this very helpful.....I am going to get back into using....I some how aloud myself to fall off track. Very helpful but also saw that someone else wrote don't forget to actually PAY the credit card, I made that mistake a few times. Can't wait to get started again and your videos are very helpful....thank you!
@@tammymarquis7837 Thanks! I'm so glad that the videos have been helpful for you :)
OMG! I am 52 and have been a YNAB subscriber since before it went online. I NEVER understood the credit card incorporation before. This video is FANTASTIC. Thank you. You are a wonderful teacher!
True story: We’ve gotten started and comfortable in YNAB because of your videos. Thank you! We decided to add a credit card to the mix, and I tried figuring it out with a shorter tutorial on the subject. A few minutes in I was like, “Nah. I need to learn from Nick. I’ll understand it from him.” And here I am. Keep up the great work!
YNAB has saved me sooooo much money over the last almost four years. For the modest annual subscription, it keeps track of all my spending and income, and because I use a credit card to grow the cash rewards, I use YNAB to keep tack of all my credit card transactions. The beauty of YNAB is that when you spend money it reminds you that you need to actually have money in your account to cover your spending. There’s no surprises at the end of the month. And as you point out, the best thing about YNAB is setting up monthly goals to pay off a debt or prepare for annual or long-term expenses. When my DMV registration, car insurance, or the holidays arrive, I already have the money budgeted for those expenses, so my checking is always at $2k or more. I could talk about YNAB all day. Glad you’ve done some videos about it. I might produce some training videos about YNAB for my audiences.
YES! You're totally right. I'm so glad you enjoyed the video. You're 100% correct about the power of YNAB. I really appreciate you taking the time to comment and watch. Glad to hear that YNAB has been a big win for you :)
Thanks so much for stopping by!
The hack with the due date in the credit card name at the end was fancy! LOVE LOVE LOVE all your YNAB videos. You're my fav to watch and learn from. * zooms off to pay off the credit card 🏃♀ *
Thanks Kendra :)
Great information, thank you! This is our first month on YNAB and this helped a lot. 👍🏽
Just started using YNAB 2 weeks now and this credit card thing was soooo confusing because I’m still using my card to get the rewards. I was thinking I had to assign money directly to the credit card category … but then I was like “I’ve budgeted for everything I’m charging so this means I’m budgeting double.” I knew this was wrong but I had no idea HOW to solve this mental dilemma. Now I get it. I also see that YNAB has updated the transaction dashboard and it now says “Record a Payment” - this updates how you’re teaching to make a transfer to the card from the checking. Thank you so much
Sitting here (01/02/2021) determined to give YNAB one more try. I tried last year (didn't know about you) and now having watched your videos I have renewed confidence that not only can I grasp this budgeting platform but that it will further enhance my budgeting skills for our household. So THANK YOU!!!
As someone who has spent the last year facilitating online training for digital tools, I just wanted to give you kudos. All your videos have me feeling great about my first "real" month with YNAB!
Well thanks Kali! I so appreciate that!
I have been struggling with my finances for a minute now and am in bad credit card debt and annoying interest payments. Luckily my gf showed me YNAB and your YNAB videos. Your videos have helped me tremendously I cannot thank you enough.
Hey thanks David. I'm so glad that the videos have been helpful for you. Just keep hanging in there man. Reach out if there's ever anything I can do to help,
Nick
YNAB is brilliant and you're brilliant at explaining it. Thanks dude. I used YNAB a while back with the mindset of forecasting and stopped. Picked it back up again this past weekend and was sent your Beginner's video as a reference. This stuff is really great. Can't thank you enough.
Thanks! So glad that someone sent you my beginner's video. So happy that it's been helpful for you man.
Thanks for the comment and just keep on YNABing!
This is 2nd of Nick's YNAB videos that I have now watched. Both the videos are thorough and well articulated that it just makes sense. They are truly a must watch before tackling YNAB. Given all the other comments on fighting the app and to make it work for lengthy periods I am grateful I came across these videos before wasting too much time and/or just giving up all together. I bet there is a direct correlation on how fast one hits the ground running by simply watching these videos. Keep up the great work! Thanks again!
BOOM! That's so great to hear ahhseni! I'm super excited that these videos have been helpful for you. YNAB is so powerful and such a great tool, but can definitely be confusing. I really appreciate you taking the time to watch and comment letting me know the videos are helpful.
Let me know if you ever have any questions and good luck YNABing!
It's 2020, and your teachings are still pure gold. Thanks for the info, Nick!
No problem Roman! So glad the video helped :)
Thank Nick.... I watched this video as suggested at our meeting. It did clear up a lot but think I'll be watching again a few time before we meet again. Again... Thanks!
So glad it helped!
Just found this video after searching because for some reason the way YNAB handles CCs was just not clicking.. thank you so much! I understood it in my head, but seeing the actual numbers for different situations made it make sense.
Perfect, so glad it was helpful for you Danielle!
Dude this was awesome! You are carrying me through YNAB! I decided to give it another go and because of you I get it! Scene from E.T. - 'it's working, it's working' - thanks Nick!
Thanks Joy!
I just joined the free 30 day trial. I went through several of YNAB’s videos but was still feeling a little overwhelmed. I ran across your video and was so relieved. Excellent job explaining steps...so helpful.
Thank you, thank you, thank you. Have spent the last month trying all kinds of apps, spreadsheets, etc. to get budget on track. Discovered YNAB then discovered you, and now I can take a nap. Thank you for taking the time to make easy to understand videos. I watched this one and the beginners one, and my budget is set up and functioning great.
Very clear explanation of a not very intuitive topic. Great job, Nick.
Thanks Joan!
I just wanted to really thank you for making these very detailed YNAB videos. They should be paying you a cut on sales because I was going to cancel it before I found your videos. Also, you should do more videos with your hair out and no cap.
Thanks Leonard! I really appreciate it. So glad that you're getting a lot out of the videos. It means a lot to get these sorts of comments.
And thanks haha! I'll try to mix it up more often :) I'm growing my hair back out, so it's getting REAL long compared to this video haha.
I've been using YNAB for 3 years without fully understanding the nitty gritty of credit card overspending. Your video really explains it so well. Thanks! I love all your videos. For me it's been good to watch them to review how YNAB works. Also recently learned about the tool kit from you.
Yet another great video on YNAB. I just started YNAB 2 weeks ago and I couldn't have done it without your videos. Thank you!
Hey thanks! So glad the videos have helped!
I just got this program today and wanted to chime in and say these videos are invaluable. You're an excellent teacher.
Joseph Nevarez thanks! I’m so glad that the videos have been helpful for you. I really appreciate you taking the time to leave a comment and let me know. It means a ton.
This was extremely helpful! I could not figure out why my budget was so off. I was adding transactions, assigning categories and then on top of that, budgeting the total payment to my CC Company (which included the money I had already budgeted in other categories. My numbers were completely off. I am going to start fresh now and keep pushing on. This is a must watch for all YNAB users!
I have been using YNAB since it's very beginning, and I just didn't get it, no matter how many of YNAB's tutorials I watched. That was until I found your videos, you explain it all so simply and in a way that my brain understands. For this I thank you. I used to be on the YNAB classic version but since watching your videos I have ventured to the newest version.
Each time I need to remember how to categorize credit card transactions. I rewatch your video. Thank you for creating this great content.
Great Video! I just started using YNAB and your videos have helped my greatly. I've gotten way more from this video than the content YNAB provides. Thanks!
Nick, I’m just starting to watch just your second video, and I must say, I am impressed! I’ve been trying to budget since I’ve been married 23 years ago, mostly failing. The main problem was keeping track of what I actually spend and categorizing it so it corresponds with my budget. I’m using YNAB for the 2nd time (I didn’t like it several years ago before all of their recent updates and move to the cloud version and newer app), and now I will not budget in anything else. I still mess it up sometimes, and still have the bad habit of overspending but hopefully soon I’ll get this right!
Anyway, all that to say, your one video I’ve watched was awesome!!!! I’ve watched hundreds of budgeting videos and yours is really good! Thank you! I can’t wait to finish the credit card one I’m watching (because I think I’ve still been a little confused) and find another one!
Are you employed by YNAB? If not, you should pursue it. They need to snag you up in a heartbeat. I’ll recommend you!
Thanks Marla! I really appreciate that. haha, no I'm not employed by them. Although I am in contact with them and we partner together because I love to promote their app. But I'm on my own :) I'm so glad the videos are helpful for you. I'm excited that it feels like you can finally get the hang of the budget and truly use it to get ahead. Thanks so much for commenting. It means a lot to know that the videos are helpful.
Please reach out anytime with questions :)
Thanks Nick for all your great videos. I've watched most of them multiple times.
The only thing I still get confused about with credit cards is how YNAB handles overspending in a category when there is a mix of credit card and debit card (cash) spending for that category. I contacted YNAB support about this. and I thought I would share what they said:
"If a budget category is overspent, and that category contains a mixture of cash spending and credit spending-YNAB will always prioritize the cash spending first, because those dollars are gone. Even though the transaction that overspent your Home Maintenance category was from your checking account, the overspending is considered credit overspending in YNAB, because credit cards can acquire debt but your checking account can't."
Even though they explained it to me and the explanation made sense, I still get somewhat confused and frustrated when it happens. The initial thought is "Leave the credit card alone, I didn't overspend with the credit card!!" I'm sure a lot of thought went into this at YNAB.
Summary (hopefully I have it correct):
If there is one credit card transaction in a category for $50 and the rest is debit card transactions, the first $50 of overspending in that category will be considered credit overspending and any additional will be "regular" overspending. If that category is overspent by $80, then the Inspector message will say that the budget cannot be trusted until $30 more is budgeted. After $30 more is budgeted, then the category shows as overspent by $50 with credit.
If you make an update to your Credit Card guide video in the future, this situation would be a good thing to include. Others may get confused by this also.
By the way, YNAB has awesome customer support. They responded quickly and even made a quick video for me to explain. Who does that?
I think you fixed all my confusion concerning YNAB with this. THANK YOU
Your info on making a payment vs. transfer for credit cards saved me! I was doing it exactly how you said not to and couldn't figure out why making a payment was putting me over my budget.
Awesome Sara, so glad that was helpful for you!
I have been using YNAB for awhile but took the lazy approach to managing credit cards in YNAB. Now that I have found this video tutorial I think I am ready to do it the right way. Thanks!
Andres Echevarria fantastic man! Glad to hear that it was helpful!
look, I don't know you from Joe, but the way you have explained this- I feel like it actually makes sense! Ive been using YNAB consistently with a full understanding of budgeting and my money. Thank you!
For the 1st time in my 40 years of handing our families finances, I am excited, and most importantly, confident I can. I have tried Mint, and Every Dollor, and gave up quickly. Something was always missing, I thought it was me. You just explained in 2 videos, and 1 hour all my past problems. Starting YNAB today. Can't wait to watch all your videos, laster .... after my head clears. Most likely I'll be watching the starter video and this one over a few times 1st. What would you recommend as the next "most important" if you had to choose. We are months away from a 100% debt free life, also for the 1st time. No more house payments! I can't wait to see where we go from here. Keep up the great work.
Faraway the best YNAB tutorial not even from UA-cam, but from all over the internet!
YNAB should use your videos in their classes
It‘s been nice if you comment that right side bar when you click on your credit card
Thanks man! I really appreciate that. It means a ton for you to say that.
And yes, I should do a video explaining more about that right side bar! Good idea.
Nick, Your videos have really helped me get YNAB setup and operational. It's only been a few weeks but I am starting to see my attitude change about how I am managing my money. I used to have a sophisticated spreadsheet that was excellent at forecasting but crappy at showing me where I was going wrong and spending poorly. I am now finding those mistakes and correcting my spending. I have set goals for my categories and started getting realistic about how the money is spect. It was your videos however that helped me understand the concept of credit cards (how it works in YNAB) as well as get over the idea I needed to allocate my future money to things each month... that I just roll with the paycheques and make sure my goals are accurate so that those dollars will have a job when I do enter that paycheque transaction. Nice work, thorough explanation... great job.
I've watched this video at least four times, and today I think I fully understand credit cards in YNAB. Each time I watched the video, I found the answer to the question I had at that particular stage of understanding credit cards.
Today, I heard the answer to (what could be) my last question. My stumbling blocks were each explained in this video; my mind just didn't recognize the answer until my mind/stage was ready with the question -- hmmm, that sounds a little confusing. :)
My last step is to "write/type" it into my procedures (business and personal, each). Then, it will forever be understood, even if I never read the procedures again ... just my learning process.
Actually we are not able to pay off credit card debts by setting goal, because interest
(the biggest uncertain factor) will be applied if you don't make payment in full.
I love your videos you make it much easier to understand YNAB. I have watched the credit card one several times lol
Thanks Shelley :) I'm so glad that the videos are helpful for you.
Will need to add a YNAB subscription to my budget. The videos are super helpful. Thank you!
haha, yup! Definitely add that. Glad the videos are helpful :)
Nick, thank you so much. Just after I applied for a secured credit card, I saw a post on a YNAB FB group recommending your videos. I watched this video and once I received the cc, followed your instructions! It was so easy when I did my first transaction! Thanks so much for sharing!
Woot woot! So glad to hear this Angie :) I’m excited that the video was helpful for you.
thanks so much for commenting and letting me know that it helped you out!
Good luck YNABing! :)
Gosh, SO helpful! I've re-started YNAB 3 times already in the past month because I kept messing it up (mostly not understanding how to use). Also your comments helped me decide to pull the plug on the bank connection, THAT was driving me crazy! thank you, can't wait to watch all your YNAB videos.
Hey Karla! :) So glad to hear that the videos have been helpful for you :) I really appreciate you taking the time to comment. Glad you're on the YNAB train.
Good luck and let me know if you ever need anything!
Just started with YNAB this week and wow, this cleared up all my CC questions. Love the content!
Hi Nick, thanks for making this video. I've been using YNAB for most of this year and mostly have the hang of it. One of the areas that I have issues with is credit cards and how to completely input all of the transactions/payments. I'm one of the people who carry a balance every month, however, am trying to slowly pay them off. Up until I watched this video, I would have a problem when entering my credit card transactions/payments. Your video explained everything and answered all of my questions about what I was doing wrong. I'm definitely keeping this video in my arsenal and will refer to it when needed every month until I get this thing figured out!!!!!!
Brian Woods boom! Dude I’m so pumped that this video was helpful for you. That’s exactly why I made it. I wish you all the luck in the world as you get out of debt! Excited for you to get the hang of it my man.
Thanks for letting me know that this was helpful.
Nick been using YNAB for about 6 months now. Finally decided to add my Amex and Discover to track and decided this was a must watch.
Thanks for the content and I’m happy to say I’ve told people about YNAB and your videos.
Just buttoned up watching the video. One question I do have.. I notice my Amex for example updates as payments and purchases are made... will it auto update when interest is charged in red similar to how a savings account will add interest in green?
Finally an answer to how you deal with money transfers to pay credit card bills. Thank you!!!
By far, this is the most helpful video on YNAB credit cards. The info on the website is confusing AF... this is so clear! Thank you!
Haha well I’m glad it was helpful for you :) I really appreciate you taking the time to watch and comment.
Good luck YNABing! :)
I've been struggling to get my Credit Cards to sync up with YNAB and this video was PERFECT. Thank you thank you THANK YOU!
Finally! A video that explained the credit card fiasco in YNAB. It makes sense now that you explained it in perfect detail! Thank you so much!
I can not thank you enough for this video! Thank you thank you so very much! I was needing help where to place the CC payment, I pay it off every month but I wasn't sure how to do it. I just added this account to my YNAB!
That is a game changer, I was about to give up on YNAB, but this explains it so much better than their videos.
Nick, I cannot thank you enough for this video. I just started using YNAB and I was stumped on what happens to the money that I am spending from my CC and balancing it with my checking account (you know, that confusing part).
Keep up the great work!
Nice Muja! I'm so glad to hear that the video was helpful for you. I know how confusing the credit cards can be in YNAB. So excited this helped clear things up!
Good luck YNABing :) Thanks for letting me know it was helpful.
This makes so much more sense now! Thank you! I followed your beginner's video yesterday and set up my whole account, but couldn't understand the credit card bit. This helps so much!
Making payments was puzzling me, but you cleared it up for me. The payee has its own selectable category. Thank youuuu!!
No problem, so glad that it helped!
FINALLY I get it. You went through steps that had been skipped by others. Thank you so much!!
I was searching exactly for information on this and boom - you provided it perfectly. Thank you!
Awesome, so glad that it helped!
I have been procrastinating watching this for almost a year now and I finally watched it today and OMG this explained it sooo soo well!! I now get CC's 100% with YNAB!! Made me resume my subscription to give another go(it was gonna be over this December) Thank you thank you thank you Nick!!
Hey Nick! I just want to let you know that your videos are helping people all over the world including me from Dominican Republic in the Caribbean! Your videos are supper clear and detailed, Me and my wallet truly apreciate the time you take to explain how YNAB works. Keep up the fantastic job!
This video was so helpful!! I really screwed up my budget with the credit card payment last month (free trial month) and had to start all over. Your video clears up all my confusion. Thank you!!
This was the only part of YNAB I didn't understand and you explained it perfectly. Thanks!
Awesome Darrin! I'm so excited for you. Glad to know that this filled in the gaps for you!
Fantastic video. I was ready to pull my hair out with YNAB credit cards. I watched this and how I think I got it. Great job!
Haha well awesome. Glad it helped clear things up Jeff!
This is great man, thanks for posting this. Just started with YNAB to replace my old, by-hand budgeting tool, and the way credit cards work was the last big hurdle.
Many thanks!
Cheers,
~Nate
Another great video. I really do find this way more informative than any YNAB resources. It's my second attempt at YNAB budgeting and the CC payments was one of the final hiccups.
Hey Nick & Hanna,
I've been struggling to get my finances in order... I come from a country where older generations have zero financial intelligence (living paycheck-to-paycheck is the norm) and plagued with low income. I basically learned just as much.
All my life I've felt like I've been:
- receiving a barrage of punches (unexpected expenses)
- shopping compulsively (Amazon is basically my home page)
- uneducated spending (I want it so I get it... I only want it if it's new... New project after new project)
With your videos I've learned how to put my finances front and center, to make them a habit like cooking a meal, and to make it a goal to have financial independence.
So many people spend their whole lives just working, earning good money, just to end up poor when they retire (if they can), and I certainly don't want to be one of them.
My most sincere thanks for the content you are making, it has helped me immensely!
Best,
Thanks, Nick! You make the YNAB app feel more manageable and organized. I am 6 weeks into YNAB and I was trying to simplify categories so much that I was getting lost. Now I have everything broken down like you showed in your video. I feel so much better. I appreciate your help! Aloha
Boom! So happy to hear that Tracy :)
I appreciate you commenting and watching to let me know that it helped. Good luck YNABing! Let me know if there's ever anything I can do to help!
@@mappedoutmoney I have 4 people in my office YNABing so we discuss everything new we learn. We are kind of obsessed...lol. I have forwarded your YT link to them so they can follow you too. You're already helping more than you know, er...knew. Aloha Friday!
YES! That's awesome. I'm so glad to hear that. Hope you're having a great weekend, so happy that the videos have been helpful and that you have folks in the office that are into YNAB.
Good luck!
Long time YNAB user. Hubs and I both have work CCs that get reimbursed monthly and paid in full. Got some helpful tips from your video ESPECIALLY the idea of putting due date for CC in acct description! GENIUS!! Thanks!
Boom! So awesome Jenny. Really happy to hear that the video was helpful for you. Thanks so much for watching and for the comment :)
I tried to figure it out on my own after using EveryDollar for several years. The rolling funds and credit cards had me so confused. Thank you so much!!!
Nick, You really make the action and process easy to easier. You are a great Facilitator.
This solved my last problem with YNAB. You're the best!
Awesome Matthew! SO glad that the video helped you out. Thanks for taking the time to comment and let me know it helped!
I tried using YNAB in the past and found it confusing and hard to work with and in the end I stuck with using excel spreadsheets. After watching your tutorial videos this makes using YNAB a lot clearer and more understandable. Thank you, this is good content.
Lots of heart emojis to you for explaining this so clearly. Thank you!
Glad to hear it was helpful!
Again, many thanks to you Nick for this video. You are a really great teacher and in the few days, I have watched your videos I really gained insights as to how to use YNAB to attack my credit cards.
Boom! So glad to hear that Ebert. Super appreciate you taking the time to comment and let me know the videos have been helpful for you.
Thanks for this video. After 2+ months, the credit card part was constantly tripping me up. I think I understand it now.
Awesome! Glad the video helped clear it up for you!
Oh man... thank you. I just recently mastered YNAB basics: One account and budgeting along the way. Worked well. Until I got cocky and decided to add my credit cards. I went from a Master to a Padawan in seconds. So defeated. Watched this video and understood it completely. So thanks for getting me back into Jedi status. Not quite a Master yet. But getting there.
OMG finally I understand CC's in YNAB. Yay!
Woot woot!! So glad to hear that this helped you out :)
I plan to do all my purchases on my credit card and do my budget goals for each category. Let how much I allocate in each category every week dictate the Max I can use the credit card for on any category at any point in time. Then at the end of the month, just take that ending balance and pay it off.
This works because each target for all my categories sums up to my monthly income. I’m a salary employee so I know my monthly income and weekly checks. By targeting everything by the week, and then by the month overall, I always guarantee that I will be able to cover the card in full come months end.
This video cleared my idea of this plan up! Thanks a ton
Absolutely fantastic set of YNAB videos. You're a lifesaver my friend.
Thanks John! you’re very welcome. I’m so glad to hear that the videos have been helpful for you. 🙌
Thanks so much for commenting.
Hey Nick, just wanted to echo the sentiment from everyone else here. I started trying out YNAB 3 days ago and your Quick Start video and this video completely sold me on committing to YNAB.
I had tried and failed before to get into using YNAB because it felt so confusing to start "where I'm currently at" and didn't know how to properly use goals to setup planned future spending/saving, but your videos are so well made and it gave me the push I so desperately needed to get out the rut I was in.
I'm looking forward to watching more of your high quality content. Subbed 4 Life!
Hey! Thanks :) I really appreciate that. It means a ton to hear it and thanks for taking the time to comment and let me know.
Best of luck with your finances. Let me know if there's ever anything I can do to help!
@@mappedoutmoney I actually ran into an issue that wasn't covered in this video. I had a large expense hit me that I had to put on my card but it blew my budget in one of my categories. YNAB shows it with the little orange "card exclamation" mark. The system allowed me to "cover" it using the card account, which resolved the warning mark, but this caused credit card budgeted amount to show as negative as I've already paid all the cash I could on it. It doesn't give me any warning about this negative amount.
Is it better to let the category show the warning and just move on to the next month? Or continue to allow the system to show a negative budgeted amount for the credit card?
@@GravitySpec Hey this is a great question!
And I would go with your first option. I would let the category show the negative amount as orange overspending. Then, when you have the money to pay down the card, you'll budget that money directly to the credit card payment category.
You might consider clicking on the credit card payment category now, and then in the right hand bottom corner click "add note" and add yourself a note about the overspending, how much it was, and what it was for.
Then in future months you'll have that reminder note there to remind you to budget directly to the card and pay that down over time.
Let me know if that makes sense!
@@mappedoutmoney thanks for the reply! So I guess I would unwind the overspending back into other categories until that negative card budget is to $0? I've already made some payments to the card this month so that's already been accounted for. Hope that makes sense.
A Cup of Tea yes :) . Unless you budgeted money directly to the card for some reason.
And I would do my best to unwind it from the category that had the big emergency happen. That way it’s easy to Remember why you overspent if you go back and look at the budget at some point.
Thank you, thank you, thank you! In using YNAB (love YNAB!) and with the great help of your videos, Nick, I feel like I'm getting a huge part of my life under control. What a relief! Also, I am able to pass along this information to my teenage kids, giving them a leg-up before they even get started!
Woot woot Jill!! So glad to hear that :)
YNAB is a great tool once it really clicks for you. I really appreciate you taking the time to comment and let me know.
I’m excited that you’re going to pass it along to your kids! It will definitely give them a huge leg up. :)
Hey Nick, Your first video convinced me to try the free trial month and both videos have made it possible to stick with it without giving up. Thanks so much for taking us through it step by step. Even with great tutorials ynab offers, I would not have persevered without your videos. So kudos!,
Thanks so much Donna! I'm so glad that the videos have been really helpful for you. I'm excited for you to be YNABing! Thanks for taking the time to let me know :)
Seconding this.
@@lexymcavinchey7147 Thanks :)
Keep up the good work I just started with YNAB and your video are helping I was trying to figure out how to add the credit card payment, your videos are on point keep up the good work.
Thanks for another great video! I’ll be rewatching this on the iPad while working my budget on the computer. I couldn’t do this without your help!
No problem jackie! So glad that it was helpful for you :)
Thank you. You explained exactly what I needed to know clearly, and the Table of Contents in the description meant I didn't have to sit through 15 minutes of irrelevant information first.
I came back to YNAB after an unwise hiatus, and now exactly 1 month later I got hit with a large car repair bill that I can't afford to cover without increasing my credit card debt. I could remember how to handle this with the YNAB 4 way, but forgot how nYNAB does it.
Awesome Fedos. So glad the video was helpful for you. I appreicate you taking time to comment and let me know.
Good luck getting through the car bill!
Mr. True, you're awesome. I've watched many of your videos to start to learn YNAB, and when I decided to start using a credit card for the travel benefits, I watched this video a) before I decided to get the card, b) again when the card arrived, and c) again when it came time to reconcile everything after making a few purchases.
Everything was fine. Yay! Then I tried to use the mobile app, and now I'm confused.
It was a $100 grocery purchase. I entered it in the mobile app under the credit card account and the groceries category. The credit card category went to -$100 available, as expected, but now the groceries category seems really off.
The goal amount is $500, but I had $600 budgeted (only the second month of YNABbing, I'm still figuring out how much I actually spend) and there was $99 available.
After the $100 grocery transaction, there is $1 budgeted, -$500 in activity and -$499 in available - RED ALERT!
What happened? Did I enter this incorrectly? The mobile app doesn't have an Undo function, and I'm not confident enough to fiddle further. Any advice you have is greatly appreciated! :)
your YNAB videos are the best out there. thank you SO much.
No problem! Thanks so much for watching Sabrina. Really appreciate you taking the time to comment :)
Thank you so much for making this YNAB videos... you have an amazing ability to communicate these lessons in a clear and concise way and yet cover all the details -- very grateful!
I can’t tell you how helpful this video and the Getting Started video have been... thank you!!!
Awesome, so glad it was helpful for you :)
Nick,
This was such an informative and helpful video. I have been spending days watching other videos and reaching out to YNAB to try to figure out how to go about credit cards. Thank you for clarifying many points. This is the first video I have watched of yours so think I will go back to your others and see if that helps answer my other questions. Thanks again!
Hey thanks Jennifer! I super appreciate it. So glad to hear that the video was helpful for you.
Reach out if there’s anything I can do to help!
Nick
Thanks Nick! You've got the right combination of explanation and example to really help me wrap my brain around handling CCs. I've a few of your YNAB videos now, and they're just stellar! You're my go-to for understanding :)
Woo! That's awesome Laura :) So glad that the videos have been helpful for you. Thanks so much for commenting to let me know!
We hear people talk about life changing things all the time. This is a life changing thing for me!
Thanks Janet!
Ty, I've been using YNAB for years and now I finally understand how it does credit cards
I need help figuring this out