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Fresh Start Budget Done!

June 17th, 2019 at 12:27 pm

I've set up our Fresh Start Budget in YNAB. I'm thankful that so much transferred over. I did make some new categories and was able to delete some that just aren't needed any longer. We no longer have a line item for electricity or water since these are included with our rent. But we did need to add a line for our daughter's car payment.

The primary motivation to start fresh was the realization that I needed a different category for each of our daughter's tuition and housing. The money is coming from different sources and I wanted to make sure I wasn't spending money from one on the other. This is particularly important at tax time! I managed it for 9 months and should only have another 10 to go, but this will help keep me sane during those final months and at tax time!! No need to have things be difficult.

I also deleted some old categories like computer savings and combined eye glasses and medical together. I put medical into short term savings rather than every day type of expense because it is rare that we have out of pocket medical expenses. You get the idea. I simply cleaned it all up and it's more in line with how our budget really is right now.

Now that I've done this once, I can almost see me starting over more often. I think this last budget went back to 2015. I also like that the old budget is saved so I can go back and forth between the two if needed. This will be helpful at tax time or when I want to track the Big Goal savings progress for the year.

How often do your revamp or start fresh with your budget?

2 Responses to “Fresh Start Budget Done! ”

  1. fireandi Says:

    A new start can be very motivating. You appear really organized from your description. That is such a key in financial management. Good luck on the new budget.

  2. rob62521 Says:

    Sounds like a fresh start is the way to go.

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