So I can't tell if my income is going to cover all my goals. So, as I start adding more and more categories with goals, I can't get a good idea of what all my categories/goals add up to per month, or maybe over the next six months. Nowhere does YNAB tell me how much I actually need combined per month ($215.42 per month, in the case above). Then, YNAB does a good job of breaking each one down into how much I need to set aside per month. Let's say, $100 per month for groceries, $500 per six months for car insurance, $385 per year for HOA fees, etc. I've done this a few times either in excel or old school pen and paper.įor me, it's like this: In YNAB, I can set up a bunch of different goals. That's probably because they are easy teach, can help people readjust their relationship with money, and generally if someone sticks to their budget they aren't going to go broke because their future income projections ended up not meeting reality.Īs others have mentioned you can typically use the reporting functions of YNAB and other zero sum based budgeting apps to do some future forecasting in excel. ![]() ![]() I'd say the predominance of budgeting apps out there are zero sum budget based at their core. Typically they aren't designed around the idea that I can run a deficit today to be covered by income tomorrow. They inherently aren't really designed around the idea of forecasting. In zero sum budget all monies are allocated/assigned/etc with nothing left over. YNAB is just a fancy envelope budgeting method application and the envelope budgeting method is a type of zero sum budget. And I generally don't project out more than 3-4 months, since things get more uncertain further out than that.Īs a YNAB user I'll speak specifically to YNAB and more generally as well. Savings accounts aren't really part of it since they're just getting some monthly deposits. Since this account is my primary cash for spending, it gets more attention. I've found this helps me identify any potential upcoming "dips" in my account balance that may require my attention. As bills get paid, I delete those lines from the forecast and update the "today's balance" number. Then there's a line graph showing my projected balance.Īs statements are received, I update any "estimate" values with the actual number. ![]() Most of those numbers are pulled from my "budget" tab, though a few are just estimates: utility bills depend on usage, credit card payments depend on each month's actual spending, etc. I have my "today's balance" at the top, a lines below going out a few months for paycheck deposits each payday, and projected bills. One of the tabs is a "forecast" to keep an eye on my checking account. I personally have a Google spreadsheet where I track a bunch of my own financials. Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit.Īs others have said, that "forecast" functionality is really a separate thing from budgeting. Get your financial house in order, learn how to better manage your money, and invest for your future. Banking Megathread: FDIC, NCUA, and your cash. ![]() Private communication is not safe on Reddit. Scam alert: Ignore any private messages or chat requests.
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