Author Topic: YNAB users - track net worth?  (Read 4726 times)

fidgiegirl

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YNAB users - track net worth?
« on: October 30, 2013, 05:32:03 PM »
Hey YNAB users, I bought the program and am excited for its simplicity and also its forward looking orientation.

However, I know I am going to miss some aspects of my old program (not doing double duty) such as being able to track pre-tax expenditures.

Also wondering how you track your net worth, since YNAB doesn't touch loan balances or retirement/investment accounts.

Thanks all for the always helpful advice.

oldtoyota

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Re: YNAB users - track net worth?
« Reply #1 on: October 30, 2013, 05:37:49 PM »
I track net worth in a spreadsheet instead of YNAB. It's pretty easy.

I was also a bit surprised that pre-tax expenses were not counted. I got used to it, though, as I realized the purpose of YNAB was to deal with the dollars you get into your hands as opposed to those spent earlier and pre-tax.


Anatidae V

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Re: YNAB users - track net worth?
« Reply #2 on: October 31, 2013, 01:56:13 AM »
Something others have done that I thought I'd try is just to enter my superannuation as an off budget account, and update it every 3 months. It would be awkward if you have many accounts to track, but you could group similar investments.

jarcher777

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Re: YNAB users - track net worth?
« Reply #3 on: October 31, 2013, 03:48:35 AM »
I enter all of my Investment accounts as off budget accounts and update them at the end of every month.  Ive been doing it this way for a year now and its been working fine.  I believe you can also add mortgages to see your current mortgage amount versus your home value.

aj_yooper

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Re: YNAB users - track net worth?
« Reply #4 on: October 31, 2013, 08:53:15 AM »
In YNAB, you can track net worth by setting up off budget accounts for assets and debits-investments, cars, house, jewelry, etc; then, update them monthly.  HELOCs can be entered as if were a credit card in the on budget line; you could put the mortgage there too (as a credit card) if you wish.

vespito

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Re: YNAB users - track net worth?
« Reply #5 on: October 31, 2013, 09:48:15 AM »
Yep - off-budget.  I update once a month, and just enter "increase/decrease in value" as the payee.

olivia

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Re: YNAB users - track net worth?
« Reply #6 on: October 31, 2013, 10:09:57 AM »
I just didn't enter my investment/retirement accounts to YNAB because I don't want to drive myself crazy updating it.  I can access it all in Mint.com so I just keep an eye on everything there.

gecko10x

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Re: YNAB users - track net worth?
« Reply #7 on: October 31, 2013, 10:27:01 AM »
Off-Budget accounts.
For things that happen automatically (mortgage payment, 401k contribution, etc.), I have a scheduled transaction so I don't have to do it manually. Which means the only time I manually adjust anything is every 6mo-1yr when investment gains/losses throw the numbers way off.

abhe8

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Re: YNAB users - track net worth?
« Reply #8 on: October 31, 2013, 10:43:22 AM »
you can include pre-tax items. for example, say your paycheck is for $1000, but pre-tax amount was $1400 and you paid $200 in health insurance and 200 in taxes. on the transaction, indicate $1200 incoming and $200 outgoing. label the outgoing as health insurance. net incoming will be 1000.

fidgiegirl

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Re: YNAB users - track net worth?
« Reply #9 on: October 31, 2013, 03:19:31 PM »
Thanks for the good ideas!

cdub

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Re: YNAB users - track net worth?
« Reply #10 on: October 31, 2013, 03:29:26 PM »
you can include pre-tax items. for example, say your paycheck is for $1000, but pre-tax amount was $1400 and you paid $200 in health insurance and 200 in taxes. on the transaction, indicate $1200 incoming and $200 outgoing. label the outgoing as health insurance. net incoming will be 1000.

Good tip!