I use YNAB budgeting software
by Verde (2013-01-02 14:22:27)
[ cannot delete ]   [ Edit ]   [ Return to Back Room ]   [ Show All Thread ]   [ Ignore Poster ]   [ Report Post ]   [ Highlight Poster ]   [ Reply ]

  In reply to: Personal finances question...  posted by Mobster

It has you create budget categories that are essentially subaccounts of your bank accounts.

For example I allocate $200 per month for property taxes. The balance of that subaccount builds up over the course of six months until my property taxes are due. When the check clears I assign it to the property taxes category and it reduces the balance in the subaccount.

I know someone who does the same concept with actual bank accounts at ING. He has one account for vacation, one for car replacement, etc.


The contents of this post represent the views of the author. NDNation.com is not responsible for its contents.