Budgeting with no money
One of the main problems that faces the millennial generation is complete bewilderment when it comes to finances. When I got my first grown up job, I called my mom frantically trying to find out what a 401k was.
But now, if you asked me, I could tell you that it has money in it. I think. And maybe I get it back someday? Or the company gets to keep it?
I need to call my mom again, hang on.
Anyways, the point I’m trying to make is that my generation struggles with money. I don’t know why it wasn’t taught to us in school, considering how much more useful it would have been than knowing literally anything at all about trigonometry.
My current method of budgeting involves a Five Star notebook and snack-sized Ziplocs taped to the wall with each month’s receipts. Obviously, there are some key problems with this method.
I decided to try out this software I read about on Facebook called You Need A Budget, or “YNAB” for short.
The software has some good and bad points, mostly good though.
For starters, it links your bank account super easily. Usually sites ask for routing numbers and other information, but it was really nice that they only asked for a username and password (although tbh I had a hard time remembering my username — Google Chrome has made me completely useless).
It took a few minutes for me to understand how the credit card aspect would work out, but it makes sense after you play around with it.
Honestly the only drawback is that there’s no “how long can I make this money stretch” option, because right now the money isn’t exactly ~flowing~ and I need to make some cash stretch. Freelancing is one of those things where you can go one month with eight clients and the next month have none. And then the next month and the next month. Hence the broke-ness.
I’ll also say that Bank of America is doing a new budget tool that automatically recognizes certain transactions (like it knows that Safeway is groceries). This seemed convenient at first, except I still had to go through and fix things (like it didn’t recognize my rent, and Costco is considered “shopping”), and I also don’t know that I want any software going through and categorizing my purchases. It feels invasive.
Overall, solid software, highly recommend. Now if only they could GIVE me money with which to budget…that’s the real issue.
