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Fresh Start Budget

June 12th, 2019 at 06:14 am

I haven't done it yet, but I think it's time to make a new budget, or a fresh start budget as they call it in the YNAB community. There isn't anything exactly wrong with our current budget. It still works, but I'm realizing our lives have changed and the categories are not working quite as well I could have them work.

The most specific issue is how I track money for college tuition for our daughters. I have ONE category for two daughters. I save $400-$600 a month there. We also receive housing and book payments for our older daughter using the Post 911 GI Bill, and I add money from their ESAs into the account. So whose money is whose? I think I need to make a change. It worked great when it was one child and I think it's all worked out this last year, but going forward I need it cleaner. I tried adding a category and starting to change things...but boy was I going to mess things up going back and doing that.

There are other smaller reasons to make a new budget, too. So this could really clean things up in many areas. I'll be honest I'm a bit scared changing things over. I will try to do it starting this Friday or Saturday since I usually clean up the budget and pay off credit card balances when there is a new paycheck. The good news is IF this new budget doesn't work, the old budget is still saved. This actually helped me tremendously when I was making changes and realized I was messing things up. I just went back to the time stamp on the budget that was prior to my messing with it! Yay!

I still want to move from YNAB 4 to the new version...just waiting for the financial storm to pass before I commit to a new annual payment.

Those of you in YNAB, have you ever made a Fresh Start or a New Budget? And tips, advice or regrets?

1 Responses to “Fresh Start Budget”

  1. FrugalTexan75 Says:

    Yes, many times - every time I had a big life change or just got too behind on recording transactions. No regrets about any of the times (other than how long it took to set everything up again.)

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