Comments on: You Need a Budget (YNAB) 3.0 Personal Finance Software Review http://www.fiscalgeek.com/2009/12/ynab-3-budget-review/#utm_source=rss&utm_medium=rss&utm_campaign=ynab-3-budget-review Personal Finance for Geeks from the Debt Snowball to Homemade Air Conditioners Thu, 09 Sep 2010 15:30:05 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Erickhttp://www.fiscalgeek.com/2009/12/ynab-3-budget-review/#comment-12689 Erick Sat, 14 Aug 2010 16:09:09 +0000 http://www.fiscalgeek.com/?p=1262#comment-12689 I'm here because of iBank. It's glossy but completely ineffective. Its reporting is sub-par at best, and it's budgeting engine is weak. iBank spent all of its time making a glossy mac-like interface and none of its time building a sound financial platform. Beware of iBank. I’m here because of iBank. It’s glossy but completely ineffective. Its reporting is sub-par at best, and it’s budgeting engine is weak. iBank spent all of its time making a glossy mac-like interface and none of its time building a sound financial platform. Beware of iBank.

]]> By: SewSwimhttp://www.fiscalgeek.com/2009/12/ynab-3-budget-review/#comment-12684 SewSwim Fri, 13 Aug 2010 05:34:20 +0000 http://www.fiscalgeek.com/?p=1262#comment-12684 Hi Michelle, Maybe I can help at least on one question. On the account balance sheet on YNAB there are three numbers "Cleared Balance" "Uncleared Transactions" and "Working Balance" -- the way YNAB explains balancing your account is to go through and click the "C" for cleared (it adds a big green C) for every transaction that has cleared. Once you have done this, the "Cleared Balance" should match your bank's record of how much you have available. I have used the "Account Actions --> Set/Adjust Working Balance" to help bring my data in line with my bank -- just adds or subtracts an amount to bring the cleared balance into harmony with whatever your bank data shows.I can't speak about the auto bank sync function, so will be interested in that answer. I love YNAB so far and am a fairly new user. Used to use Quicken. The YNAB people are so helpful, as I have contacted them and got a very kind reply. I suggest you really explore all their tutorials, help files, and if you don't find your answer, contact them directly via their contact form. Hi Michelle,
Maybe I can help at least on one question. On the account balance sheet on YNAB there are three numbers “Cleared Balance” “Uncleared Transactions” and “Working Balance” — the way YNAB explains balancing your account is to go through and click the “C” for cleared (it adds a big green C) for every transaction that has cleared. Once you have done this, the “Cleared Balance” should match your bank’s record of how much you have available. I have used the “Account Actions –> Set/Adjust Working Balance” to help bring my data in line with my bank — just adds or subtracts an amount to bring the cleared balance into harmony with whatever your bank data shows.

I can’t speak about the auto bank sync function, so will be interested in that answer. I love YNAB so far and am a fairly new user. Used to use Quicken. The YNAB people are so helpful, as I have contacted them and got a very kind reply. I suggest you really explore all their tutorials, help files, and if you don’t find your answer, contact them directly via their contact form.

]]> By: Michellehttp://www.fiscalgeek.com/2009/12/ynab-3-budget-review/#comment-12683 Michelle Fri, 13 Aug 2010 04:49:06 +0000 http://www.fiscalgeek.com/?p=1262#comment-12683 Paul- I could use your expertise... I have given up on mint.com because it has difficulty connecting with my primary bank as well (it too is listed as a supported financial institution). I came across your blog when I was searching other options out there and, like many, this was the 1st I heard of YNAB. I must say I am VERY IMPRESSED with your reviews and knowledge of this product. I am currently working with my trial version of YNAB, while also playing with the Quicken Deluxe 2010. I LOVE the user friendliness and budgeting options of YNAB (which cannot be compared to the dull, overly-complicated QUicken)... However, I am still caught up on the "automatic bank sync". If YNAB would sync with my bank it would be a done deal, no questions asked. I am more worried about my own user error when entering transactions and afraid I won't catch an error- or if I DO catch the error, it would be a tedious headache to go back through my transactions to figure out what I did wrong. HOw do I "balance" what is importing/manual typed into YNAB to my bank to make sure they are matching up????? PLEASE HELP, I REALLY REALLY REALLY want to make YNAB work, and who better to ask than you!! And a more dumbed down explanation of YNAB's "working balance" would be appreciated! THANKS!THANKS!!!!!!!!!!!!!! Paul- I could use your expertise…
I have given up on mint.com because it has difficulty connecting with my primary bank as well (it too is listed as a supported financial institution). I came across your blog when I was searching other options out there and, like many, this was the 1st I heard of YNAB. I must say I am VERY IMPRESSED with your reviews and knowledge of this product. I am currently working with my trial version of YNAB, while also playing with the Quicken Deluxe 2010. I LOVE the user friendliness and budgeting options of YNAB (which cannot be compared to the dull, overly-complicated QUicken)… However, I am still caught up on the “automatic bank sync”. If YNAB would sync with my bank it would be a done deal, no questions asked. I am more worried about my own user error when entering transactions and afraid I won’t catch an error- or if I DO catch the error, it would be a tedious headache to go back through my transactions to figure out what I did wrong. HOw do I “balance” what is importing/manual typed into YNAB to my bank to make sure they are matching up????? PLEASE HELP, I REALLY REALLY REALLY want to make YNAB work, and who better to ask than you!! And a more dumbed down explanation of YNAB’s “working balance” would be appreciated! THANKS!

THANKS!!!!!!!!!!!!!!

]]> By: Taniahttp://www.fiscalgeek.com/2009/12/ynab-3-budget-review/#comment-12650 Tania Fri, 30 Jul 2010 13:47:19 +0000 http://www.fiscalgeek.com/?p=1262#comment-12650 Thanks sewswim! I'll check it out.... Thanks sewswim! I’ll check it out….

]]> By: SewSwimhttp://www.fiscalgeek.com/2009/12/ynab-3-budget-review/#comment-12647 SewSwim Fri, 30 Jul 2010 04:20:00 +0000 http://www.fiscalgeek.com/?p=1262#comment-12647 I've been trying the Beta-version of iBank. It is similar to Quicken, but somewhat hard to get used to. I'd give the beta version a try if I were you -- at least it's free to try! I’ve been trying the Beta-version of iBank. It is similar to Quicken, but somewhat hard to get used to. I’d give the beta version a try if I were you — at least it’s free to try!

]]> By: Taniahttp://www.fiscalgeek.com/2009/12/ynab-3-budget-review/#comment-12643 Tania Thu, 29 Jul 2010 13:44:00 +0000 http://www.fiscalgeek.com/?p=1262#comment-12643 Any comments on ibank? I am considering it to replace quicken. Any comments on ibank? I am considering it to replace quicken.

]]> By: SewSwimhttp://www.fiscalgeek.com/2009/12/ynab-3-budget-review/#comment-12620 SewSwim Fri, 23 Jul 2010 20:20:16 +0000 http://www.fiscalgeek.com/?p=1262#comment-12620 To Viki K. I've downloaded the free trial of YNAB, and had the same question as yourself. This is what I found out -- YOU CAN import data, but they don't recommend it here is why: "Why shouldn't I import historical data from another program? Although you can import all of your old Money/Quicken data into YNAB 3, we do not recommend importing historical data. YNAB 3 works as a forward looking, spending and savings management plan for your money. As such, it is not concerned with vast amounts of imported history. Having access to that history as a matter of record may have value, but it's more important to fully understand how YNAB works before loading in that much data. The main reason for this is if you suddenly import years of data, you will have to go back to the earliest date of the imported data and budget each and every dollar for each month. Depending on the amount of historical data, that could be a daunting and tedious task.Consider these points:Historical transactions have little to no bearing on future plans. While spending trends can help you get started with your budget, it won't be worth the trouble it will take to get them in place and in order. Budgeting is all about categories and assigning dollars to jobs. If you import several months or years of un-categorized transactions then it will create a huge amount of work for you to categorize each and every transaction. If you choose not to categorize them then they will not reflect in the budget nor appear in any report. As long as you can still open up your old software still then you are better off leaving the old files there for future reference.Today is a new day! Start fresh by following our Getting Started directions and in no time at all you'll have created new data." To Viki K.
I’ve downloaded the free trial of YNAB, and had the same question as yourself. This is what I found out — YOU CAN import data, but they don’t recommend it here is why:
“Why shouldn’t I import historical data from another program?
Although you can import all of your old Money/Quicken data into YNAB 3, we do not recommend importing historical data.
YNAB 3 works as a forward looking, spending and savings management plan for your money. As such, it is not concerned with vast amounts of imported history. Having access to that history as a matter of record may have value, but it’s more important to fully understand how YNAB works before loading in that much data.
The main reason for this is if you suddenly import years of data, you will have to go back to the earliest date of the imported data and budget each and every dollar for each month. Depending on the amount of historical data, that could be a daunting and tedious task.

Consider these points:

Historical transactions have little to no bearing on future plans. While spending trends can help you get started with your budget, it won’t be worth the trouble it will take to get them in place and in order.
Budgeting is all about categories and assigning dollars to jobs. If you import several months or years of un-categorized transactions then it will create a huge amount of work for you to categorize each and every transaction. If you choose not to categorize them then they will not reflect in the budget nor appear in any report.
As long as you can still open up your old software still then you are better off leaving the old files there for future reference.

Today is a new day! Start fresh by following our Getting Started directions and in no time at all you’ll have created new data.”

]]> By: machttp://www.fiscalgeek.com/2009/12/ynab-3-budget-review/#comment-12604 mac Mon, 19 Jul 2010 10:14:08 +0000 http://www.fiscalgeek.com/?p=1262#comment-12604 Here is the newest coupon code for a free sample of <a href="http://www.maccosmeticsretail.com" rel="nofollow">MAC Cosmetics</a> Zoom Lash mascara with any purchase. You will also get free shipping on your order. Just enter promotional code LASH510 at checkout at http://www.maccosmeticsretail.com. Keep in mind that these offers expire after a period of time. Here is the newest coupon code for a free sample of MAC Cosmetics Zoom Lash mascara with any purchase. You will also get free shipping on your order. Just enter promotional code LASH510 at checkout at http://www.maccosmeticsretail.com. Keep in mind that these offers expire after a period of time.

]]> By: Vicki Khttp://www.fiscalgeek.com/2009/12/ynab-3-budget-review/#comment-12506 Vicki K Fri, 25 Jun 2010 17:51:20 +0000 http://www.fiscalgeek.com/?p=1262#comment-12506 Quick question, I have been using Quicken since atleat 1999. I have to reload my 2008 verision, which is why I decided to investigate another package. Is there a way to download my info from Quicken to YNAB. I really don't want to start from scratch. Quick question, I have been using Quicken since atleat 1999. I have to reload my 2008 verision, which is why I decided to investigate another package. Is there a way to download my info from Quicken to YNAB. I really don’t want to start from scratch.

]]> By: Christopher Leganhttp://www.fiscalgeek.com/2009/12/ynab-3-budget-review/#comment-12421 Christopher Legan Sun, 06 Jun 2010 16:53:12 +0000 http://www.fiscalgeek.com/?p=1262#comment-12421 Combine this with QIF-Master ($16) for automated downloads and categorizations of your transactions. Combine this with QIF-Master ($16) for automated downloads and categorizations of your transactions.

]]>