YNAB Goal Types And How To Choose (Fall 2019 Update)

TL;DR

YNAB introduces new goal types for efficient budget planning.

Transcript

what's up guys Nick Tru here and if you've been paying any attention at all then you know that YNAB just released some brand new goals and in this video I'm not only going to be covering those new goals I'll also be showing you how to set up all of the different goal types inside of wine app plus I'll be sharing a decision tree that's going to take... Read More

Key Insights

• 😫 Setting goals in YNAB allows for a forward-looking approach to budgeting, aiding in planning future expenditures.
• 🥅 The new goal types introduced by YNAB, including monthly and by date goals, provide users with more options for budget planning.
• 👤 Goals in YNAB help users save time during the budgeting process by efficiently allocating funds based on preset targets.
• 🥅 The decision tree for choosing goal types in YNAB guides users through a series of questions to determine the most suitable goal type for each spending category.
• 🈷️ YNAB's new monthly goal type is beneficial for categories like groceries and gas, where users want to set specific monthly spending amounts.
• 🧑‍🤝‍🧑 The by date goal type in YNAB is ideal for long-term savings goals, such as vacations or specific expenses with a target date.
• 👶 YNAB's new goal types offer more flexibility and customization options, catering to different budgeting preferences and needs.

Questions & Answers

Q: What are the two main reasons for using goals in YNAB?

The main reasons for using goals in YNAB are to provide a forward-looking approach to budgeting and to save time during the budgeting process. Goals help in planning spending and efficiently allocating funds.

Q: How do the new goal types differ from the old ones in YNAB?

The new goal types in YNAB offer more flexibility and options, such as setting specific amounts to spend each month or reaching a target balance by a certain date. They cater to different budgeting needs and preferences.

Q: How can YNAB's decision tree help in choosing the right goal type?

The decision tree provided by YNAB helps users determine the most suitable goal type for each spending category by guiding them through a series of questions based on their budgeting preferences and needs.

Q: Which categories are ideal for the new monthly goal type in YNAB?

Categories like groceries, gas, and other living expenses that occur monthly and where you want to track spending amounts each month are ideal for the new monthly goal type in YNAB.

Summary & Key Takeaways

• YNAB released new goal types for effective budgeting, aiding in planning spending and saving time.

• Setting goals in YNAB allows for forward-looking budgeting, aiding in planning expenditures and aligning finances.

• The new goal types, including monthly and by date goals, offer flexibility in budgeting for both spending and saving purposes.