Creating A New YNAB Budget | How I'm Changing My Budgeting For 2021 | Part 1: The Categories

Hi Friends! 🔘 ❗️ Try a free 34-day trial of YNAB yourself AND get an extra month for free with my referral link: https://ynab.com/referral/?ref=1dnFJoUMcOPjS7hR&utm_source=customer_referral

In this video, I review some of the reasons why you would want to do a new budget and walk you through the updates I will be making for my new budget. This includes no longer budgeting two months ahead (!!!) and the creation of several new groups and categories. This is Part 1 of a 3 part series on all the steps I'm taking to update my budget before 2021. This is also part of a larger series of videos on my channel that is focused on preparing my budget for the new year and closing out my 2020 budget.

My Situation/Context: If you are new to my channel, I'm a 23-year-old woman living at home for pretty cheap ($400/m) while working full time. I recently paid off $28k in student loans and have focused the last half of 2020 on investing and building a strong foundation for F.I.

🔘 First video of mine? Check out my budget with me video playlist: https://www.youtube.com/playlist?list=PLckB8EnGckvM7kQU2Ql9GuXhNJBvlibL-

🔘 follow me on Instagram: @zennialfinance

🔘 Check out my How to Use YNAB playlist for some highlights on my favorite features: https://www.youtube.com/playlist?list=PLckB8EnGckvPodigZKZm7Pd4Qy9zclbsT

🔘 Recent videos I recommend you check out:
◾️ Setting Up My Annual 2021 Budget and Investing Goal: https://youtu.be/ceaW6IWMc78
◾️ My End of Month Wrap-up Routine for October and November Budget Review: https://youtu.be/uGEv_nlafi8
◾️ My Thoughts on FIRE and how I Plan To Pursue It: https://youtu.be/m84SojkDkd0

🔘 Upcoming videos (Subscribe to stay up to date!)
◾️ Nov Wrap-Up (Dec. 1st)
◾️ YNAB Set-Up Part 2: YNAB Goals and How To Use Them (Mid-Dec)
◾️ YNAB Set-Up Part 3: Adding Accounts and Budgeting Out Starting Balances (Late Dec/Early Jan)
◾️2020 Goals and Reveal of Goals for 2021 and Beyond (Mid-Dec)

🔘 LINKS:
◾️ What is A Fresh Start: https://www.youneedabudget.com/the-logic-art-of-a-ynab-fresh-start/
◾️ Difference between Fresh Start and New Budget: https://support.youneedabudget.com/t/q5vrva/fresh-start-or-new-budget
◾️ YNAB Help - Making A Fresh Start: https://docs.youneedabudget.com/article/200-making-a-fresh-start

⬇️ Timestamps:
0:00 - Intro
1:03 - why I want to create a new budget
2:37 - "fresh start" vs "new budget"
3:33 - Creating my new 2021 Budget
4:23 - Master Category Group Names
5:26 - Individual Categories (for My Responsibilities)
7:30 - New Category Group: Giving
8:40 - Updates to Sinking Funds Category ("Winter Is Coming")
9:14 - FIRE Group
9:55 - Savings Group
10:13 - Changes to Budgeting for Future Months
13:10 - Holding Category: Now an End of QUATER Bonus
14:11 - My Health Accountability Group
16:21 - Hidden Categories: Wish Farm + Wish List
16:55 - Outro (Upcoming Videos)

Видео Creating A New YNAB Budget | How I'm Changing My Budgeting For 2021 | Part 1: The Categories канала Gen-Z Finance