Halfway through this video, and I had to pause to comment. This analogy and the cut-aways to the physical envelope is such an amazing idea. Having something physical and tangible to compare everyrthing to is priceless.
Well thanks Ryan! Super appreciate you taking the time to comment and let me know that it was helpful. That means a ton to me. Good luck YNABing my friend!
Especially the analogy of writing the target amount on the envelope. Writing that amount doesn't put money in, neither does setting a target. Brilliant!
After watching your vids, I'm giving YNAB another shot. I thought I could manage my money using self-created spreadsheets, but I was more concerned with how to create the best sheet that I forgot to manage my money.. LOL. So, thanks!
Boom! That's awesome Daniel. So glad to hear that. I've TOTALLY been there. Messing with sheets for WAY too long rather than actually doing the real work. Let me know how YNAB goes and if there's anything I can do to help!
OMG, that’s so me too!!! I’m struggling how to use YNAB though bc it requires the harder work of actually managing the money vs making my spreadsheets look nice!
I have owned YNAB for over a year. I just found your videos. They are a Godsend. Honestly, I you have been the only videos that truly speak to me, that I can follow and know what to do and how to do it. Thank you so very much. You have made things clear that were so muddied. God bless you.
hi! you know i am not a YNAB users but had to say YAHOO!!!! 10K !!!! way to go! i am so glad people are finding you, you bring something new and fresh to the debt free community that was missing. Glad people are appreciating what you bring to the table!!!
Kari!! You're the best. I SO appreciate your consistent comments and thoughtful responses. It's so encouraging to see your comments pop up in my notifications. I honestly can't believe we hit 10k this year. I remember a year ago not even being at 1k and feeling like it was so far away. Serious thanks for your encouragement :) Appreciate you Kari!
I had no idea when I signed up for YNAB that it was going to be such a STEEP learning curve. I love YNAB and could see how powerful and useful it could be, but man, it doesn’t make a ton of sense at first. You have saved the day with your amazingly helpful videos. Thank you SO much for these! Game changers, seriously.
I understood the concepts before watching this video thanks to your other amazing videos (especially the beginner vid) but I watched anyway because I really love how you explain things. Thanks to you and YNAB I have completely changed my view of managing my money and finally digging myself out of the hole I created. You have genuinely changed my life! Me before watching your videos: "I HATE YNAB! It makes no sense! It's stupid and I'm going back to Mint!" Me after watching your videos and creating my first budget: "OMG YNAB IS THE GREATEST PLATFORM EVER CREATED!" Thanks again man!
I have tried YNAB several times before and totally gave up because of the credit card confusion! Thank you so much for this video. Even though it's 4 years old it gave me the instruction needed!
I just started with YNAB, your videos are more understandable to me because you seem to focus on the actual actions at a closer level than the official videos training. The combinations of your videos and YNAB videos is great and you really clarify the concepts with your examples and analogies. Loved the envelope references because that is what I am coming from. I wish I could give 2 thumbs up 🤩
I've been using YNAB for a few years with success but had gotten off track and a bit frustrated. Your videos have really helped me clean up and streamline - you've helped remind me why I love this software and started using it in the first place. Thanks so much for what you do!
Envelope metaphor is SO helpful. Even though before the video I was familiar with the envelope method, I only had a tenuous grip on the way YNAB goal/budget/available funds work, and this video helped me realize what was going on in YNAB and appreciate the direct comparisons between the two.
Nick you really simplified YNAB in this video. It helps when I can relate it to something that I am comfortable with. The Toolkit features are awesome. It is surprising that YNAB doesn't already have them.
Hey thanks! I'm so glad that you found it helpful. And yes, the Toolkit is awesome. Glad you found it! :) Excited to hear that you're moving forward with YNAB and trying to make it work. Thanks for watching.
Thank you Nick. I'm from Malaysia and just started my job a year ago. I tried saving as much as I can to support my parents and siblings, while supporting my music endeavors. But it always seem to fall short and I am unable to find out why exactly besides cliched willpower. Hope you're still doing videos because you're helping young adults like me not falling into the same pitfalls as millions out there!!
We just closed out a subscription to Mvelopes (their system is bug-ridden, duplicate transactions, etc., and support is getting harder and harder to find, from them) -- and had looked at Quicken, but this video explains YNAB perfectly -- this video was *SUPER* helpful, including the metaphor for envelopes!
Your videos are the reason I bought the YNAB system. And I am teaching my teenagers how to use it as well. I share your links in the financial academy I joined about 2 years ago. The way you break it down is awesome.
Your videos are a really incredible resource, Nick. You are a truly gifted teacher and organizer/communicator of information. Thank you for sharing that with the world and making budgeting/YNAB more accessible to people with really diverse financial backgrounds! I'm also eager for a toolkit video and additional info on dealing with accounts when they don't reconcile and any issues/things to consider when you decide to link an account. Thanks again!
Nick, you are doing an amazing thing for a lot of people. I gave up using YNAB years ago because I found it too confusing, but thanks to your videos it makes complete sense now. I finally feel like I have a handle on my money. So much stress off my shoulders! Thank you!
Andrew Streater thanks man! Super glad that my videos have helped you get back on the YNAB train. Really appreciate you watching and commenting. That’s what keeps me going dude. Super encouraging to know it helps.
I am new to YNAB and I have seen nearly every video you have made. You have such a wonderful way to explain this app, it's capabilities as well as how to get the most out of it (especially for newbies like me). Since this is May of 2020, the goal section appears to be somewhat revamped so I am unable to see the goals made for each category. Again, I'm new so perhaps I am still not getting the grasp of how to fully navigate these options. I also have a few issues (of which I have requested a YNAB associate to help navigate certain issues I am having) but for the most part, you are amazing. I really appreciate your taking the time to provide these life-changing tutorials. I already have a new prospective on what it means to budget and I fully intend on watching all of the back-dated videos I have missed thus far. I am definitely a new subscriber. Thank you Nick!
This was a great analogy. I have only been using YNAB for a few weeks. When I watched your video on the month end checklist it was like tumblers falling into place and it just clicked and made so much sense. Thanks for the heads up on the YNAB toolkit. I didn't know it was available.
JoLynne Huotte that's great! I'm so glad to hear that the videos have been helpful for you. I really appreciate you leaving a comment. And yes. The toolkit is really neat and adds a lot.
Nick thank you so much!! @idealbudgeting referred me to your channel when I responded to his post with “meh not a fan of the new YNAB. Too complicated.” You explain how to use it so well! You are now my morning coffee companion. ☺️☺️☺️☺️
LOVE, LOVE, LOVE your videos, Nick! I learned so much about how to use YNAB from you. Keep making these amazing videos! Can't wait for the Toolkit video because I use it, but I feel like I am underutilizing its features. OSN: I don't know about anyone else, but I don't really care for the new color change that YNAB implemented.
Thank you Nick for this video. We are just starting to use YNAB and I have found your videos very helpful. It can be very overwhelming. Have a great day. I look forward to seeing your videos.
Absolutely Steve! So glad you’re here. Really appreciate the comment. That means a lot. Good luck and let me know if there’s ever anything I can do to help!
Your envelope metaphor is making sense to me. In fact, it may be the first time that I'm actually starting to get my mind wrapped around the YNAB concepts. (And I'm a long-time user of YNAB for Mac ... since maybe about 2008?)
Awesome Wesley! So glad that it's helpful for you my friend. When I was able to make that comparison it helped me a lot, so glad it's helpful for you too.
Wow, another GREAT video! I *always* learn something new from you and, hallelujah, I was able to balance the totals budgeted with the accounts on the left simply by adding x amount of dollars to a fictitious Cash account (I called it a correction entry). Well done, Nick!
Thanks Scott! So glad you learned something and were able to balance the budget! That’s such a great feeling my friend. As always. Thanks for watching!
Thank you for all these videos - going into 2021 a little more confident in my money management and comfort with using YNAB desktop/app because of you. The extra column being added in was helpful to do AFTER I understood how the goals work from your first video. I think too many columns can scare people away, so not having this showing at first was good for my learning curve on this haha. Thank you! Well wishes for the new year!
New user. Started this month and watched almost all of your videos. I've gotten it down 99% by now so I already understand how it works but this video was a perfect analogy to just further clarify how it works.
Thanks so much for your YNAB videos (especially beginner's guide & credit cards)! When I watched your intro video, I immediately thought of the envelope system... Although I never liked the cash-in-envelopes method since it's so tedious, I'm actually excited to utilize it in a digital format. Signed up a few days ago with your link (though sadly the trial maxes out at 34 days now), and I'm [amazingly] enjoying the time spent planning my budget & the software interface itself. I'm looking forward to watching more of your videos...thanks and God bless, dude!
Great overview and demo showing how to start with YNAB. I was using YNAB for a bit and left it to try other apps and I just came back to give YNAB a try again.
I love how your dog was looking at you to see what you were doing (the first clip of him )than said," this is boring " and turned to look out the window. 🤣🤣🤣🤣.
I'm watching your 6 Hour playlist on how to use YNAB and I have many questions. Eventually I might save to get some personal coaching from you since you offer it!! * * * * * p.s. How are you not sponsored by YNAB haha. You have like a monopoly on the market. If someone needs to know something about YNAB you are the one to go to!
THANK YOU for sharing the toolkit and showing how to set this up with envelopes. This helps SO much! Perfect combination of ynab and dave ramsey/envelope method!
I've been using ynab for years now (before they moved to a subscription based service) and would really love to see a video on the toolkit! Thanks again for an amazing video Nick
Loved this video. Have had YNAB for a few years but just now figuring out how to use it for more than just tracking spending. I’m doing the actual cash envelope method for now and would love a video on how to do that.
Hey Sara! Really appreciate you watching. Using actual physical cash envelopes AND YNAB is definitely cumbersome. There's a lot of double duty to do that because YNAB is basically a digital envelope system. But you've got to do what works for you, and if that works for you, awesome! That's what you should do :) Let me know if you have any questions I can help with!
So glad it helped! And I’ll see if I can get that on the list. Main thing to note: almost everything should be monthly funding goals. And then long term once or twice a year things should be target category balance by date goals. The regular target category balance is almost useless. When in doubt, go with monthly funding :)
Nick True - MappedOutMoney thanks for the advice! I will definitely try it out. I also liked that you showed the plug-in. I hope they have an option (or develop one) to view the categories from multiple perspectives.
Awesome man! I'm excited to put that video together. And as for the colors, honestly, I really didn't like them at first... but they're growing on me. We'll see how I feel about them in a few weeks. I'm not excited about the fact that I have lots of videos that show old colors though haha :p don't want to remake them! lol
@@mappedoutmoney Thanks for introducing me to the plugin and can't wait for the video. My only issue with the budget is if there is leftover money in a category from month to month it won't just apply the amount to the category goal for the next month and turn the dang AVAILABLE amount GREEN!!! At least with the plugin I can see the new Goal column.
Great explanation, I totally understood it, the envelope way did it! I have installed YNAB because I have never succeeded to accumulate money and to make them age, to be ahead month to month. Some people care about money, some don't, or don't care that much. I am on the second category. I think that one of the most important thing for me is to set a goal in real life something like: "investing in a business, or buying a house", and after that you will do your best to keep it up. I look around and I see colleagues, or friends who refrain from buying, because they really care about the money. This is not working for me. I am just wondering why I cannot raise money :)). After all, if you want to put money on side, you have to cut off some of your pleasures. Thanks D
Great video. Really appreciate the real life envelope examples. I feel like that really drove it home for me. Question - I got the Toolkit for YNAB plugin but not seeing that goals column. I REALLY want that feature. Is there a specific setting you did to enable it?
Grab the YNAB Checklists here: mappedoutmoney.com/ynab-checklist/ Plus, the Quick Jump Sections 1:24 - Creating a category (envelope) 1:53 - Creating a goal for each category 2:50 - Putting money into your category (budget column) 4:30 - The activity column 5:31 - The available column 7:50 - Toolkit for YNAB feature 1 9:13 - Toolkit for YNAB feature 2
Nick do you have a video showing the best way too setup the YNAB toolkit? I remember that you mentioned in one of your videos that you were working a video showing how the toolkit works.
Hey Daniel! Keep your eyes peeled :) I'm back at it this Thursday and it's going to be the Toolkit video. So just a couple more days and it's coming out my friend!
Great video! I would love to have all my numbers in one place. I have all these different "sinking funds" with Capital One, and while it appears organized, its really a hot mess. I honestly need to budget better.
Hey Janice! Good question, you can click in the top left hand corner on the "my budget" area and when the drop down opens, select "open budget" that will take you to a screen with all of your budgets. Once there, if you hover over one of them, you'll see a little "x" pop up in the bottom corner. Click that x to delete it. Hope that helps! :)
For goals you mentioned to create a goal for every budget item but that seems more for discretionary spending versus required items like mortgage or utilities. You know every month you will have to pay x for mortgage so why not just budget that and not create a goal. What do we gain by creating the goal?
Good question! Two main benefits are for planning purposes and time saving. I cover it in a new video that I actually just published today. You can see it here: ua-cam.com/video/lBgF42p2Td0/v-deo.html
Hey there, yes, unfortunately, the new trial has been changed at the start of the year. So now it's only a 34 day trial. YNAB is in the middle of re-working their affiliate program, so not sure if that will change or not. Sorry for the confusion!
Thank you so much for the videos! I started YNAB a few months ago and it has really changed my mentality when it comes to spending. I'm wondering if you have any work-arounds for one-time expenses in YNAB. For example, a security deposit for my apartment was charged once, and so I created a category with a target goal. However, every month this expense seems to recur and asks me to budget toward it. Hiding the category hides the problem, but doesn't change my overall numbers. Thanks again for your help!
Hey Steven, good question. So for one time expenses, if they are small, I just typically throw them into unexpected and roll with it. However, if they are larger and I know they are coming, I will create a category and set a "target category balance by date" goal so that maybe I need $1000 by October. Then when October comes and I pay for the thing, I will do one of two things. 1) Hide the category like you said and delete the goal 2) Delete the goal, create a new category group called "Categories i no longer care about" and then drag that category down there and keep that group minimized... out of site out of mind. But it still shows up in my reports :) But you definitely don't need a monthly funding goal after it's done. So you can for sure delete the goal. Hope that helps!
Question about YNAB & relationship to actual accounts: What do I do with my actual accounts....in other words, if I budget so much for "car maintenance" ~ do I put that into an actual separate account? Like, Ive always put things into different envelopes. Or, if Im saving for something in particular where does that monthly allotment go? It seems to me if it all sits in a checking account, things go haywire. So am I supposed to refer to YNAB to see if I theoretically have it available? I guess the physical envelopes have given me a stop-gap to spend or stop. How do you manage this area in relationship to YNAB?
Great video, thanks for sharing your practices with ynab. I get paid weekly do you have any tips on how best to use ynab weekly? As I currently need to keep a seperate record to where I divide the monthly by 4.3 so I know how much to budget each week. Thanks again.
Love the video. I have tried and failed to use YNAB for over 2 years. I also didn't read or watch the videos about it (my fault, i know) that it's a different type of budgeting app. I thought it was just a budgeting app. I tried to plan my whole month out. I am going to try this method and believe it will help. Any update when the toolkit video will be done ? :)
Thanks Nick, great video. Once I put money in the envelope, I want to physically move my money from checking to savings and leave it there until it's time to use it. So for example I allocated $100 for hair and physically transfer $100 from checking to savings. Is this possible? Or will it mess up my spreadsheet.
I'd love a video all about the toolkit! I am with you there are so many features it tends to be overwhelming and complicated for me to use. I've asked in groups and people aren't that helpful.
Halfway through this video, and I had to pause to comment. This analogy and the cut-aways to the physical envelope is such an amazing idea. Having something physical and tangible to compare everyrthing to is priceless.
Well thanks Ryan! Super appreciate you taking the time to comment and let me know that it was helpful. That means a ton to me.
Good luck YNABing my friend!
Especially the analogy of writing the target amount on the envelope. Writing that amount doesn't put money in, neither does setting a target. Brilliant!
After watching your vids, I'm giving YNAB another shot. I thought I could manage my money using self-created spreadsheets, but I was more concerned with how to create the best sheet that I forgot to manage my money.. LOL. So, thanks!
Boom! That's awesome Daniel. So glad to hear that. I've TOTALLY been there. Messing with sheets for WAY too long rather than actually doing the real work. Let me know how YNAB goes and if there's anything I can do to help!
OMG, that’s so me too!!! I’m struggling how to use YNAB though bc it requires the harder work of actually managing the money vs making my spreadsheets look nice!
Fun fact: the first version of YNAB in 2004 was a spreadsheet.
At this point I'm just watching your playlist to make sure I see and like all your videos. Bro.. Thankful can't describe it. God Bless you.
haha, thanks dude! That means a ton. Super appreciate the support. Seriously.
I have owned YNAB for over a year. I just found your videos. They are a Godsend. Honestly, I you have been the only videos that truly speak to me, that I can follow and know what to do and how to do it. Thank you so very much. You have made things clear that were so muddied. God bless you.
Hey SJM! Thanks so much. Really appreciate you taking the time to comment and let me know. So glad that the videos have been helpful for you.
The envelope metaphor is spot on, thank you. Looking forward to trying out the toolkit!
Thanks Eleanor! So glad that it was helpful for you :)
The envelope example with the b-roll showing you writing on the envelope and (later) stuffing money into it was super helpful. Thank you.
hi! you know i am not a YNAB users but had to say YAHOO!!!! 10K !!!! way to go! i am so glad people are finding you, you bring something new and fresh to the debt free community that was missing. Glad people are appreciating what you bring to the table!!!
Kari!! You're the best. I SO appreciate your consistent comments and thoughtful responses. It's so encouraging to see your comments pop up in my notifications. I honestly can't believe we hit 10k this year. I remember a year ago not even being at 1k and feeling like it was so far away.
Serious thanks for your encouragement :) Appreciate you Kari!
I had no idea when I signed up for YNAB that it was going to be such a STEEP learning curve. I love YNAB and could see how powerful and useful it could be, but man, it doesn’t make a ton of sense at first. You have saved the day with your amazingly helpful videos. Thank you SO much for these! Game changers, seriously.
YNAB should use your videos as their default tutorials ! :) I LOVE IT
Hey thanks Yasser! So glad that the videos are helpful for you.
I understood the concepts before watching this video thanks to your other amazing videos (especially the beginner vid) but I watched anyway because I really love how you explain things. Thanks to you and YNAB I have completely changed my view of managing my money and finally digging myself out of the hole I created. You have genuinely changed my life!
Me before watching your videos: "I HATE YNAB! It makes no sense! It's stupid and I'm going back to Mint!"
Me after watching your videos and creating my first budget: "OMG YNAB IS THE GREATEST PLATFORM EVER CREATED!"
Thanks again man!
The envelope analogy and cut away shots really worked for me. Thanks!
Awesome! So glad that was helpful for you. Thanks for watching!
I have tried YNAB several times before and totally gave up because of the credit card confusion! Thank you so much for this video. Even though it's 4 years old it gave me the instruction needed!
I just started with YNAB, your videos are more understandable to me because you seem to focus on the actual actions at a closer level than the official videos training. The combinations of your videos and YNAB videos is great and you really clarify the concepts with your examples and analogies. Loved the envelope references because that is what I am coming from. I wish I could give 2 thumbs up 🤩
Hey thanks! So glad that the videos have been helpful for you. Thanks for taking the time to comment, and happy budgeting!
When I first started with YNAB, I instantly saw the envelope comparison as well. Great video!
Thanks Trevor! Really appreciate the comment man. Glad you enjoyed it!
I've been using YNAB for a few years with success but had gotten off track and a bit frustrated. Your videos have really helped me clean up and streamline - you've helped remind me why I love this software and started using it in the first place. Thanks so much for what you do!
Envelope metaphor is SO helpful. Even though before the video I was familiar with the envelope method, I only had a tenuous grip on the way YNAB goal/budget/available funds work, and this video helped me realize what was going on in YNAB and appreciate the direct comparisons between the two.
YES this 100% makes sense. Love the metaphor... all your videos are honestly great. Only improvement I can think of us let us see your doggos more!!!
Hahaha I’ll try to get them featured more. Thanks Danya! :)
Excellent tutorial on the YNAB screen Nick. Makes it a lot easier.
Thanks Joseph! Super appreciate the encouragement. Glad the video seemed to make things easier :)
This may be the most important video in your whole playlist. Very useful for understanding YNAB.
So glad it was helpful for you!
Nick you really simplified YNAB in this video. It helps when I can relate it to something that I am comfortable with. The Toolkit features are awesome. It is surprising that YNAB doesn't already have them.
Hey thanks! I'm so glad that you found it helpful. And yes, the Toolkit is awesome. Glad you found it! :) Excited to hear that you're moving forward with YNAB and trying to make it work. Thanks for watching.
The envelope metaphor is a game changer for me! Makes so much more sense, thank you!
Thank you Nick. I'm from Malaysia and just started my job a year ago. I tried saving as much as I can to support my parents and siblings, while supporting my music endeavors. But it always seem to fall short and I am unable to find out why exactly besides cliched willpower. Hope you're still doing videos because you're helping young adults like me not falling into the same pitfalls as millions out there!!
We just closed out a subscription to Mvelopes (their system is bug-ridden, duplicate transactions, etc., and support is getting harder and harder to find, from them) -- and had looked at Quicken, but this video explains YNAB perfectly -- this video was *SUPER* helpful, including the metaphor for envelopes!
Your videos are the reason I bought the YNAB system. And I am teaching my teenagers how to use it as well. I share your links in the financial academy I joined about 2 years ago. The way you break it down is awesome.
Your videos are a really incredible resource, Nick. You are a truly gifted teacher and organizer/communicator of information. Thank you for sharing that with the world and making budgeting/YNAB more accessible to people with really diverse financial backgrounds! I'm also eager for a toolkit video and additional info on dealing with accounts when they don't reconcile and any issues/things to consider when you decide to link an account. Thanks again!
You have made this incredibly clear! Thank you!
Thanks Meghan! Glad it was helpful for you :)
Nick, you are doing an amazing thing for a lot of people. I gave up using YNAB years ago because I found it too confusing, but thanks to your videos it makes complete sense now. I finally feel like I have a handle on my money. So much stress off my shoulders! Thank you!
Andrew Streater thanks man! Super glad that my videos have helped you get back on the YNAB train. Really appreciate you watching and commenting. That’s what keeps me going dude. Super encouraging to know it helps.
I was almost ready to give up on YNAB, then I found your videos! So clear, common-sense and easy to understand. Seriously, thank you!!!
Yay to the envelope metaphor and the free toolkit option!! Thankyou ❤️
Thank you for watching!
This is excellent. Wish I'd seen it earlier in my using YNAB. Thanks!
Thanks Jim! Glad the video was helpful for you :)
I am new to YNAB and I have seen nearly every video you have made. You have such a wonderful way to explain this app, it's capabilities as well as how to get the most out of it (especially for newbies like me). Since this is May of 2020, the goal section appears to be somewhat revamped so I am unable to see the goals made for each category. Again, I'm new so perhaps I am still not getting the grasp of how to fully navigate these options. I also have a few issues (of which I have requested a YNAB associate to help navigate certain issues I am having) but for the most part, you are amazing. I really appreciate your taking the time to provide these life-changing tutorials. I already have a new prospective on what it means to budget and I fully intend on watching all of the back-dated videos I have missed thus far. I am definitely a new subscriber. Thank you Nick!
This was a great analogy. I have only been using YNAB for a few weeks. When I watched your video on the month end checklist it was like tumblers falling into place and it just clicked and made so much sense. Thanks for the heads up on the YNAB toolkit. I didn't know it was available.
JoLynne Huotte that's great! I'm so glad to hear that the videos have been helpful for you. I really appreciate you leaving a comment.
And yes. The toolkit is really neat and adds a lot.
Love your videos. On my 5th attempt trying to use YNAB and only after finding your videos did it finally all click and now I love it. Thanks
Awesome Samantha! So glad that the videos have been helpful for you. Thanks so much for the comment :)
Nick thank you so much!! @idealbudgeting referred me to your channel when I responded to his post with “meh not a fan of the new YNAB. Too complicated.” You explain how to use it so well! You are now my morning coffee companion. ☺️☺️☺️☺️
That's so awesome Deniell! I'm really glad to hear that the videos have been helpful for you :) These comments mean so much to me!
Love the envelope analogy! Toolkit was cool too.
Thanks Ray! Really appreciate the comment. Glad you enjoyed the analogy and the Toolkit. Keep on keeping on dude.
LOVE, LOVE, LOVE your videos, Nick! I learned so much about how to use YNAB from you. Keep making these amazing videos! Can't wait for the Toolkit video because I use it, but I feel like I am underutilizing its features.
OSN: I don't know about anyone else, but I don't really care for the new color change that YNAB implemented.
Thanks K! I'm so glad you're enjoying the videos :) I'll get to work on that toolkit video. Excited for you :)
Using physical envelopes would be a great way to explain using credit cards in YNAB!
I agree, that's a good idea Katie :)
Thanks for that!
Yup, love the envelop metaphor.
Thank you Nick for this video. We are just starting to use YNAB and I have found your videos very helpful. It can be very overwhelming. Have a great day. I look forward to seeing your videos.
Absolutely Steve! So glad you’re here. Really appreciate the comment. That means a lot.
Good luck and let me know if there’s ever anything I can do to help!
I am binging on your videos. I am so excited to be embarking on this journey with your training.
Thanks Jennifer! So glad that the videos are helpful for you. Appreciate you watching and commenting :)
Thank you for all your help with YNAB. We are move it from cash envelopes so this is very helpful.
Your envelope metaphor is making sense to me. In fact, it may be the first time that I'm actually starting to get my mind wrapped around the YNAB concepts. (And I'm a long-time user of YNAB for Mac ... since maybe about 2008?)
Awesome Wesley! So glad that it's helpful for you my friend. When I was able to make that comparison it helped me a lot, so glad it's helpful for you too.
Round #3 - willing to try again. Hopefully with your videos I can make it work this time.
Nice Suzette! Thanks for watching, and best of luck YNABing!
Wow, another GREAT video! I *always* learn something new from you and, hallelujah, I was able to balance the totals budgeted with the accounts on the left simply by adding x amount of dollars to a fictitious Cash account (I called it a correction entry). Well done, Nick!
Thanks Scott! So glad you learned something and were able to balance the budget! That’s such a great feeling my friend. As always. Thanks for watching!
@@mappedoutmoney You're welcome and, yes, it's a great feeling to reconcile!
Thank you for all these videos - going into 2021 a little more confident in my money management and comfort with using YNAB desktop/app because of you. The extra column being added in was helpful to do AFTER I understood how the goals work from your first video. I think too many columns can scare people away, so not having this showing at first was good for my learning curve on this haha. Thank you! Well wishes for the new year!
You are awesome Nick. Metaphor is perfect to help me enlist my wife to use the software. Thanks!
New user. Started this month and watched almost all of your videos. I've gotten it down 99% by now so I already understand how it works but this video was a perfect analogy to just further clarify how it works.
Cody Davis awesome! Really glad to hear that this video helped solidify things for it. Thanks for the comment man!
I just started using this month and your video has been so helpful thank you very much!
So glad to hear that! Appreciate you watching :)
Thanks so much for your YNAB videos (especially beginner's guide & credit cards)! When I watched your intro video, I immediately thought of the envelope system... Although I never liked the cash-in-envelopes method since it's so tedious, I'm actually excited to utilize it in a digital format.
Signed up a few days ago with your link (though sadly the trial maxes out at 34 days now), and I'm [amazingly] enjoying the time spent planning my budget & the software interface itself.
I'm looking forward to watching more of your videos...thanks and God bless, dude!
I just started using the goals for budgeting - and did it wrong. And there you are with a tutorial! BINGO!
haha, awesome Carole! So glad that it was good timing for you :) Really happy that the video was helpful.
As always, awesome video. Your videos are more helpful than the actual YNAB videos I’ve watched!
haha, thanks Rachel! Really happy that the video was helpful for you :) Appreciate you taking the time to watch!
Nick, yet another great explanation video. Just wanted to Comment and Like to help your channel out. Keep up the great work.
This makes it a lot easier to understand. Thank you for this!
No problem! So glad it helped!
Great overview and demo showing how to start with YNAB. I was using YNAB for a bit and left it to try other apps and I just came back to give YNAB a try again.
Awesome Ebert! Thanks so much for
The comment. Really appreciate it.
Glad to hear that the video was helpful for you!
I love how your dog was looking at you to see what you were doing (the first clip of him )than said," this is boring " and turned to look out the window. 🤣🤣🤣🤣.
hahaha, I know right! She's not interested in all that budgeting :)
Great video! The envelope metaphor makes the YNAB budget screen so simple to understand. Thanks for your videos!
Sandra Jacobson thanks! I’m really glad that was helpful for you :)
Wow...thanks for the envelope metaphor. It helped me get it! I'm ready to start my free trial. I was hesitating before. Great video.
Awesome Jmae! Glad that was helpful for you.
I'm watching your 6 Hour playlist on how to use YNAB and I have many questions. Eventually I might save to get some personal coaching from you since you offer it!!
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p.s. How are you not sponsored by YNAB haha. You have like a monopoly on the market. If someone needs to know something about YNAB you are the one to go to!
THANK YOU for sharing the toolkit and showing how to set this up with envelopes. This helps SO much! Perfect combination of ynab and dave ramsey/envelope method!
Totally a great combo for envelopes and YNAB. So glad that it was helpful for you :) I really appreciate you taking time to watch and comment!
I've been using ynab for years now (before they moved to a subscription based service) and would really love to see a video on the toolkit!
Thanks again for an amazing video Nick
Lauren-Eva M that's awesome! And yes. It's coming. Really excited to showcase the toolkit. I think it's super helpful.
Thanks for watching Lauren!
I like to budget by weekly for things like eating out, groceries, etc.
Thanks Nick!!! I really enjoy your videos and the way you take the time to explain things step by step!
Thank you Ric! I'm so glad that the videos are helpful for you man. Means a lot to get these comments.
Good luck YNABing!
Loved this video. Have had YNAB for a few years but just now figuring out how to use it for more than just tracking spending. I’m doing the actual cash envelope method for now and would love a video on how to do that.
Hey Sara! Really appreciate you watching. Using actual physical cash envelopes AND YNAB is definitely cumbersome. There's a lot of double duty to do that because YNAB is basically a digital envelope system. But you've got to do what works for you, and if that works for you, awesome! That's what you should do :)
Let me know if you have any questions I can help with!
Nick True - MappedOutMoney Thanks for answering my question!
Thanks Nick..I look forward to the Toolkit video
Me too. I’m excited to get that put together soon!
Thank you! Loved it. This is exactly the video I needed. Could you do a video on how you pick the type of goal you choose?
So glad it helped!
And I’ll see if I can get that on the list.
Main thing to note: almost everything should be monthly funding goals.
And then long term once or twice a year things should be target category balance by date goals.
The regular target category balance is almost useless.
When in doubt, go with monthly funding :)
Nick True - MappedOutMoney thanks for the advice! I will definitely try it out. I also liked that you showed the plug-in. I hope they have an option (or develop one) to view the categories from multiple perspectives.
Fire of Love - Огън от любов yeah there’s a ton of features in that plugin. Just snag it and start playing around!
I am SUPER pumped about your toolkit video. So do you like the new colors for the budget? I personally miss the vibrant green, yellow, reds ://
Awesome man! I'm excited to put that video together. And as for the colors, honestly, I really didn't like them at first... but they're growing on me. We'll see how I feel about them in a few weeks.
I'm not excited about the fact that I have lots of videos that show old colors though haha :p don't want to remake them! lol
@@mappedoutmoney Thanks for introducing me to the plugin and can't wait for the video. My only issue with the budget is if there is leftover money in a category from month to month it won't just apply the amount to the category goal for the next month and turn the dang AVAILABLE amount GREEN!!! At least with the plugin I can see the new Goal column.
Very helpful and much appreciated!
No problem! Glad it was helpful for you :)
Great explanation, I totally understood it, the envelope way did it! I have installed YNAB because I have never succeeded to accumulate money and to make them age, to be ahead month to month. Some people care about money, some don't, or don't care that much. I am on the second category. I think that one of the most important thing for me is to set a goal in real life something like: "investing in a business, or buying a house", and after that you will do your best to keep it up.
I look around and I see colleagues, or friends who refrain from buying, because they really care about the money. This is not working for me. I am just wondering why I cannot raise money :)). After all, if you want to put money on side, you have to cut off some of your pleasures.
Thanks
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Love this Toolkit extension! Thanks for staying in the know on all things YNAB.
Absolutely Courtney! Really appreciate you watching. Hoping to get the Toolkit video out soon.
Good luck YNABing!
Great video as usual!
Thanks Tina! Really glad you found it helpful :)
thank you for taking the time to do this!
Thank you man for this video! I didn't know about this great toolkit, waiting for video about it. :)
No problem! Glad it was helpful. And yeah, the toolkit is awesome. Hope you can find some settings that you like!
Nick , great video, and yes the metaphor worked!
Another great video. Keep up the good work
Thanks man! Really appreciate it. Glad they've been helpful for you.
Please... looking forward to videos on the tool kit.😉
Haha me too! Hoping to get it out soon :)
Excellent Video!! Thank you for all of your thorough explanations.
Absolutely Penny! Super glad to hear that the video was helpful for you :)
Your videos are great. Thank you so much for all you do.
Thanks Grant! Really appreciate you watching man. It means a ton to get comments like this. I so appreciate it.
Great video. Really appreciate the real life envelope examples. I feel like that really drove it home for me.
Question - I got the Toolkit for YNAB plugin but not seeing that goals column. I REALLY want that feature. Is there a specific setting you did to enable it?
This is SO useful! Thank you!
Grab the YNAB Checklists here: mappedoutmoney.com/ynab-checklist/
Plus, the Quick Jump Sections
1:24 - Creating a category (envelope)
1:53 - Creating a goal for each category
2:50 - Putting money into your category (budget column)
4:30 - The activity column
5:31 - The available column
7:50 - Toolkit for YNAB feature 1
9:13 - Toolkit for YNAB feature 2
Nick do you have a video showing the best way too setup the YNAB toolkit? I remember that you mentioned in one of your videos that you were working a video showing how the toolkit works.
Hey Daniel! Keep your eyes peeled :) I'm back at it this Thursday and it's going to be the Toolkit video. So just a couple more days and it's coming out my friend!
Great explanation, Nick.
Thanks man! Really appreciate you watching. Glad you found the video helpful.
Great video! I would love to have all my numbers in one place. I have all these different "sinking funds" with Capital One, and while it appears organized, its really a hot mess. I honestly need to budget better.
Totally understand that Stephanie. I’ve been there.
Well if you start using YNAB hopefully that will help you get things organized!
Nick -Absolutely love all your videos.. but could you please tell me how to delete an old budget that I created and no longer use - many thanks!!
Hey Janice! Good question, you can click in the top left hand corner on the "my budget" area and when the drop down opens, select "open budget" that will take you to a screen with all of your budgets. Once there, if you hover over one of them, you'll see a little "x" pop up in the bottom corner. Click that x to delete it.
Hope that helps! :)
Same as Cody here.... New user as well and love your videos... When are you going to start working YNAB full time???
haha, thanks Kyle!
Not planning to do that at the moment, but I do love YNAB and I'm enjoying helping people learn how to use it :)
this is very helpful!!! thank you nick.
Big help, thank you.
No problem! So glad it was helpful for you :)
This helped me so much!!!
For goals you mentioned to create a goal for every budget item but that seems more for discretionary spending versus required items like mortgage or utilities. You know every month you will have to pay x for mortgage so why not just budget that and not create a goal. What do we gain by creating the goal?
Good question! Two main benefits are for planning purposes and time saving. I cover it in a new video that I actually just published today. You can see it here: ua-cam.com/video/lBgF42p2Td0/v-deo.html
I am only 4.20 min in but YES it does make sense, thanks
Awesome Jeanne! So glad to hear that :)
Really helpful! Thanks!
Glad to hear it Tammy :) So happy that it was helpful for you!
Thanks for the great video!
I clicked on your affiliate link but it only seems to have given me the regular 34 day free trial
Hey there, yes, unfortunately, the new trial has been changed at the start of the year. So now it's only a 34 day trial. YNAB is in the middle of re-working their affiliate program, so not sure if that will change or not. Sorry for the confusion!
Thank you so much for the videos! I started YNAB a few months ago and it has really changed my mentality when it comes to spending. I'm wondering if you have any work-arounds for one-time expenses in YNAB. For example, a security deposit for my apartment was charged once, and so I created a category with a target goal. However, every month this expense seems to recur and asks me to budget toward it. Hiding the category hides the problem, but doesn't change my overall numbers. Thanks again for your help!
Hey Steven, good question.
So for one time expenses, if they are small, I just typically throw them into unexpected and roll with it. However, if they are larger and I know they are coming, I will create a category and set a "target category balance by date" goal so that maybe I need $1000 by October. Then when October comes and I pay for the thing, I will do one of two things.
1) Hide the category like you said and delete the goal
2) Delete the goal, create a new category group called "Categories i no longer care about" and then drag that category down there and keep that group minimized... out of site out of mind. But it still shows up in my reports :)
But you definitely don't need a monthly funding goal after it's done. So you can for sure delete the goal. Hope that helps!
Amazing! Thank you! (Toolkit seems broken right now, but that's not your fault hehe)
Question about YNAB & relationship to actual accounts:
What do I do with my actual accounts....in other words, if I budget so much for "car maintenance" ~ do I put that into an actual separate account? Like, Ive always put things into different envelopes. Or, if Im saving for something in particular where does that monthly allotment go? It seems to me if it all sits in a checking account, things go haywire. So am I supposed to refer to YNAB to see if I theoretically have it available? I guess the physical envelopes have given me a stop-gap to spend or stop. How do you manage this area in relationship to YNAB?
Great video, thanks for sharing your practices with ynab. I get paid weekly do you have any tips on how best to use ynab weekly? As I currently need to keep a seperate record to where I divide the monthly by 4.3 so I know how much to budget each week. Thanks again.
Love the video. I have tried and failed to use YNAB for over 2 years. I also didn't read or watch the videos about it (my fault, i know) that it's a different type of budgeting app. I thought it was just a budgeting app. I tried to plan my whole month out. I am going to try this method and believe it will help.
Any update when the toolkit video will be done ? :)
Awesome glad it was helpful for you man!
And I'm actually planning to film it this weekend. So hopefully next week or the next depending on editing :)
Thanks Nick, great video. Once I put money in the envelope, I want to physically move my money from checking to savings and leave it there until it's time to use it. So for example I allocated $100 for hair and physically transfer $100 from checking to savings. Is this possible? Or will it mess up my spreadsheet.
I'd love a video all about the toolkit! I am with you there are so many features it tends to be overwhelming and complicated for me to use. I've asked in groups and people aren't that helpful.
Thanks Beth! Well, hopefully I can get it out soon for you! I'm working on it :) Really appreciate you watching.
Love it!