Assigning Future Income on Mobile
With YNAB, you'll only assign the money you have on hand—right now, in your accounts, today.
Now that you're a budgeter, you may be wondering how to plan for your next paycheck. Can you assign income that you'll receive in the future? In short—no, but read on my friends.
The real power behind YNAB is to use your budget to make spending decisions and to live the life you want. Of course, it's important to plan for what's next. You won't assign future income, but you can plan for the future and set yourself up for success through scheduled transactions and targets.
Schedule Future Income Transactions
Creating Scheduled Transactions will help you plan ahead for both expected expenses and inflows. They won't impact the dollars in your budget until the transactions actually occur, but they'll save you from having to keep all those important amounts and due dates stored in your brain. Of course, you'll also have predicted expenses each month that aren't bills with due dates, like groceries and gas. Plan for this type of spending by setting up Targets for those categories. (Targets will also help you hit your savings goals over time!)
When you receive your next paycheck, you'll know exactly where those dollars are needed as soon as they're in your account, because of the plan you've made in advance using Scheduled Transactions and Targets.
Aging Your Money
After you've used YNAB for a while, you may find that you're ahead and Ready to Assign has more than you need this month. Great news! You can assign those dollars in future months, and don't need 1.21 gigawatts to get there. ⚡️
Keep in mind that dollars assigned in the future can still be used in the current month. The dollars can only be used once, in the present or future! If you assign those dollars in the future and then try to assign them again in the present month, you'll be pulling from your future self, and Ready to Assign in the future month will be negative. Move money between months where needed, and adjust Ready to Assign back to zero.
With Targets and Scheduled transactions set up, and your money aging—you'll be surprised how much you don't worry about your future income anymore.