Managing seperate (multiple) budgets and accounts

OKorsOKors Posts: 14Member
edited March 2010 in Desktop (YNAB 3)
Can this software be used to manage multiple budgets?
My wife and I both have our own personal bank accounts but then there's a 'houshold' account as well.
The household account is the primary one and from there is where we transfer "allowances" over to the other accounts. Each of the other accounts (mine and my wife's) has a budget too. For instance; my gas and play money comes out of my personal account not the household, although the household account is where the majority of the global budgeting will be taking place... obviously

So without the interface getting too confusing or convoluted is there a way to create or save seperate accounts? Or would this not be a recommended approach to managing multiple accounts?
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  • MalisaMalisa Posts: 6,136Member, Moderator, YNAB Team, Beta Tester
    OKors wrote:
    Can this software be used to manage multiple budgets?
    My wife and I both have our own personal bank accounts but then there's a 'houshold' account as well.
    The household account is the primary one and from there is where we transfer "allowances" over to the other accounts. Each of the other accounts (mine and my wife's) has a budget too. For instance; my gas and play money comes out of my personal account not the household, although the household account is where the majority of the global budgeting will be taking place... obviously

    So without the interface getting too confusing or convoluted is there a way to create or save seperate accounts?

    I'm sorry if this is a very basic question. I don't have the software loaded yet so I haven't even had a chance to play around in it. Just getting the initial questions out of the way first.

    Two different questions. The answer is yes to both.

    Yes, you can have multiple accounts within one budget and I would suggest that that's what you do.

    You can have multiple budgets, but you'd have to close one, open the other. It would be very difficult starting off with 3 different budgets. I can't imagine you being happy, seeing progress, or continuing.

    But within one budget, you should be able to do what you want. The big concept that takes some/many/most people a while to wrap their head around is that YNAB has two sides to it: Accounts and Budget. You can have many accounts. You can have your account, your wife's account, and your joint account (and whatever others you have). The account registers for each look at your money in terms of what account that money is living in and getting spent from and deposited to. The budget page does not care which of those accounts that your money is in. To the budget page, it's a big pile of money. That's scary to people starting out with past habits who need multiple accounts to keep themselves from SEEING big piles of money (raising hand here). On the budget page, you'd budget the amount you want to your fun money, your wife's fun money, and your gas money right along side budgeting for your house payment and grocery expenses. The budget doesn't care which account you plan to take the money out of when you spend the money, only how much you've got available overall to spend.

    Since I've got habits similar to yours, we've got one checking account for bills only and one checking account that we use the debit card for for all the 'everyday expenses' (gas, groceries, etc.). Rather than the traditional set up of categories with master categories of Housing, Transportation, etc. I found it comfortable to have my master categories mimic where I spend the money from. So I have a master category Everyday Expense that loosely ties to what I spend from that checking account. I have a Bills master category that has all the things that I pay from my bills checking account. My savings accounts hold my rainy day money (yes, I finally have some of that, hooray!) diced up in a way that makes sense to me.

    The other BIGGEST thing, that I'm finally able to do, that you need to be able to do sooner, rather than later, is to spend based on your category balances, not your bank account balances!

    Must go get ready for work. Welcome.
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