Comments on: How To Create Your First Working Budget With YNAB http://www.gettingfinancesdone.com/blog/archives/2010/04/how-to-create-your-first-workingbudget-with-ynab/ Your Guide to Stress-Free Financial Control. Personal finance tips. Thu, 19 Jan 2012 01:14:24 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Sam http://www.gettingfinancesdone.com/blog/archives/2010/04/how-to-create-your-first-workingbudget-with-ynab/comment-page-1/#comment-173610 Sam Fri, 09 Apr 2010 21:11:50 +0000 http://www.gettingfinancesdone.com/?p=486#comment-173610 YNAB actually is great if you're a contractor. If you have inconsistent income streams, it's particularly important to create your master budget so that you can prioritize your expenses. You HAVE to know the order in which your bills and categories need to be funded. Then, when you receive any income, enter it into YNAB as "income available this month" and allocate the income to the categories in the order you previously decided. It's actually pretty simple using YNAB, the tricky part is making sure you have the money when you need it. If you can, it's particularly useful for a contractor to have a full month of expenses saved up so that you have a buffer to prevent overdrawing your account due to a late income payment. Does that help? What other questions did you specifically have? YNAB actually is great if you’re a contractor. If you have inconsistent income streams, it’s particularly important to create your master budget so that you can prioritize your expenses. You HAVE to know the order in which your bills and categories need to be funded. Then, when you receive any income, enter it into YNAB as “income available this month” and allocate the income to the categories in the order you previously decided. It’s actually pretty simple using YNAB, the tricky part is making sure you have the money when you need it.

If you can, it’s particularly useful for a contractor to have a full month of expenses saved up so that you have a buffer to prevent overdrawing your account due to a late income payment.

Does that help? What other questions did you specifically have?

]]> By: Jim http://www.gettingfinancesdone.com/blog/archives/2010/04/how-to-create-your-first-workingbudget-with-ynab/comment-page-1/#comment-173602 Jim Fri, 09 Apr 2010 16:41:10 +0000 http://www.gettingfinancesdone.com/?p=486#comment-173602 Great videos my problem is that I get lost try to set ynab because a contractor my income is all over the map- makes it hard to save- suggestions? Great videos my problem is that I get lost try to set ynab because a contractor my income is all over the map- makes it hard to save- suggestions?

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