Reboot my Budget in 20 minutes (YNAB Review)

I’ve been on YNAB budgeting system for 3 weeks now. Before that, I was on and off with my envelope budgeting, but since having reformatted computers and moving files, I didn’t have my old spreadsheets anymore so I had to start from scratch.

Why did I buy YNAB?

Jesse knows budget matters. Jesse Mecham, who created the YNAB on Excel and as a desktop application is also an accountant, so I trust he knows his spreadsheets.
Strong YNAB community. It’s encouraging to see that there are a lot of newbies and YNAB veterans who are still willing to help out. That’s how I got to use…
Easy tracking anywhere using YNAB Pocket Mod (how to fold) by fellow YNAB user Mudie. This teeny tiny booklet is where I track all cash expenses. Nifty!
Goodbye envelope plastic case. It can be a hassle going around with a bunch of envelopes. JP would always look at me all weird when I pulled out my envelope case at the cashier. It helps that I’m on my iMac everyday so I update my YNAB at least every other day, while I’m still getting the hang of it.
Easy to use. The software is well-documented. True enough, I got started in about 20 minutes using the cheat sheet

4 rules of YNAB

Rule #1 got me hooked. Being an entrepreneur, with variable income (timing andamount), it hasn’t been easy curbing the occasional splurge (like getting 4 pairs of sandals on sale at VNC Glorietta last June *sigh*) when I’ve given up a lot of other luxuries I’d gotten used to (weekly movies, meals out everyday, salon day, etc). So I’m building my buffer, which will help me truly NOT live from paycheck to paycheck.

Stop living paycheck to paycheck
Give every dollar a job
Save for rainy days
Roll with the punches

Can’t wait for YNAB Pro on Mac - due 2008. YNAB has two versions, YNAB and YNAB Pro. There’s YNAB Pro ($39.95) for Windows and already compatible with Vista. I got to try it on our HP laptop for initial setup and I really liked the interface. I can’t wait for the Mac version! Thankfully, there’s a toned-down version of YNAB ($19.95 - less than PHP1,000) that works on Excel/NeoOffice/OpenOffice so I went ahead and got my own copy and set it up on the iMac. 3 weeks in and I’m really happy with it. It’s addicting actually, scanning my 3 sheets (Register, Budget, Overview). $39.95 or $19.95 isn’t so bad at all considering you’re going to use it for years.

You can know more about YNAB and order your copy online over at YouNeedaBudget. Pay by credit card (via Paypal or Google Checkout, just make sure there’s “https://” in the address bar) and you’ll get a personalized download link so you can download and install the YNAB Program.