- 5 days ago
Hi Bees. You got me started on YNAB and I am so grateful!
My partner and I just purchased a house (very exciting!), but our finances aren’t joined yet, and we do not want to fully combine them. I have been using YNAB since December 2020, and my partner is on board to start using it. We’re going to have a fifteen/twenty minute “meeting” once a week to scan through finances.
YNAB recommends having totally joint finances – we plan on joining a lot, but not everything. My idea is to have a “Joint Budget” tab in YNAB. We’ve agreed to each contribute a certain set amount each month, with more if necessary (i.e. an expense comes up that we haven’t fully budgeted for).
The joint budget has mortgage, property taxes, utilities, inusrance, vehicle payments/insurance, gym membership, gas, groceries, home maintenance, camping passes, vacation, dining out, wedding… and a whole lot more, but generally expenses that we’re agreeing to maintain jointly – for example he is going to start taking my car to work because I will take transit and the gas mileage is way better on mine. There will be a joint emergency fund as well.
We then both have our individual budgets with student loans, gifts, alcohol, fun money, subscriptions, etc. things we aren’t doing together. We are also responsible for savings within our own budgets.
I am highly motivated by the “net worth” tab. It’s been amazing to see my net worth increase $30,000 since I started using YNAB. I don’t want to lose this, but I don’t want to see an artificial “bump” from his down payment. I am thinking of running a tracking account on my budget to show half the equity in the house? Thoughts?
Anything I haven’t thought of? Tips and tricks? Anyone else running three budgets?