You Need A Budget — yes you do, and to help spread the word about budgeting the YNAB way, I’m giving away one copy of their software to a randomly selected reader of The Wisdom Journal on February 1st, 2010. All you have to do to be entered in the drawing is leave a comment! Only one entry per person but you get two entries if you give me a topic you’d like to see discussed in the future.
If you just can’t wait until February to start using YNAB and you’re convinced (as I am) that it is the BEST budgeting software available, use coupon code WISDOM when you check out and you’ll receive a 10 percent discount.
Why am I so excited about YNAB? Perhaps it’s their 4 Rules of Budgeting that permeates their system:
1. Stop living paycheck to paycheck. You’ll be blown away by how their system eliminates paycheck-to-paycheck from your life. I’ve never seen anything quite like it.
2. Giver every dollar a job. This is what’s referred to as “zero based budgeting” and it turns the traditional budgeting method on it’s head — completely upside down. Zero based budgeting traditionally is time-consuming and exhaustive but NOT with YNAB.
3. Prepare for the rain. You know the day is coming when you’re going to need a lot of cash to cover an emergency, a semi-annual insurance premium, or new tires for the car, so YNAB helps you prepare for those events.
4. Roll with the punches. Even with the most sophisticated and thorough planning, you can overspend in a category, so YNAB spreads that overage across the next month’s budget where it can be absorbed more readily. YNAB designed their system with a buffer to help you cover accidental overspending.
YNAB isn’t fancied up for intense investing purposes, it isn’t designed to handle your overseas accounts in the Cayman Islands, or your multiple IRA’s. YNAB is designed to be the budgeting software that helps you follow the first basic tenant of sound personal finance: create and live by a budget. But YNAB took it a step further and created a planning system within their software that helps you stop living paycheck-to-paycheck. And since “living within a budget” is a fantasy in most households, I’m hoping that my enthusiastic endorsement of YNAB will help regular readers and others get out of the paycheck-to-paycheck cycle and begin living a better life.
Can you just imagine NOT living paycheck-to-paycheck?
Check out YNAB today and be sure to leave a comment if you’d like to be included in the drawing for a free copy of their software!