YNAB Savings Guide: How To Budget Your Savings

A step-by-step guide to show you exactly how to set up savings accounts and categories inside YNAB. I'll be covering three different savings methods and how to decide which one is right for you.

YNAB Savings Article:

There are three different ways to set up your savings in YNAB.
1. The Lazy YNAB Way
2. The YNAB Way
3. The Tracking Way

In this video, I'm covering all three of these methods, the pros, and cons to each, and my recommendation for YNAB beginners.

I'm also covering how to handle transfers, savings account interest, and spending from a savings account. This tutorial will teach you everything you need to know about how YNAB works with savings accounts and categories.

If you still have questions, please leave a comment below, and I'll be sure to answer everyone.

Quick Jump Sections
0:38 The Lazy YNAB Way
0:53 Difference between the Budget vs. Accounts
10:51 The YNAB Savings Way
17:55 What to do if you don't want to budget your savings
19:11 The Tracking Way
20:09 Budget accounts vs. Tracking accounts
28:59 My recommendation for which savings method to use
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[nicosbd]

I've been watching all your videos, and hope you get those kayaks.

[sriramjce]

I am on my YNAB trial period and without this video I would not have thought about continuing. Good video my friend!

[yazelldj]

I was about to not subscribe to YNAB because I have not been able to crack how to track savings. The third method of setting it up as a tracking account was EXACTLY what I needed. Now YNAB has a yearly subscription from me. Thank you!

[markeshiaricks]

Great job breaking down what so many people find confusing about YNAB. It really is trying to help you keep it simple. And if you keep it simple, you'll keep doing it because then it's fun.

[exoticbean.-.]

This video really helped to clear up how to conduct savings in YNAB. Best demonstration by far. Also for those who need separate savings I would highly recommend Ally savings. You’re able to create different buckets to give you a visual of your savings breakdown without physically having all of those savings account. I have a bucket in my Ally to mimic my buckets in YNAB. And the great thing- its only one account. I even have a DO NOT TOUCH bucket in ally and in YNAB

[RyanPhillipsATX]

Thanks Nick. I was frustrated with YNAB on not knowing how to handle savings, but your video clears it up nicely.

[chriskirsch]

I use the “lazy” method throughout the month and then do one transfer at the end of the month to make it all match. I like that because the info is always close and I don’t have to do so many transfers. Otherwise I would be transferring to savings each week and probably get transfer fees. Thank you for the informative videos!

[kirrenagallagher]

Ok. So I have had YNAB since 2011. I have watched a few of your videos and I swear my brain feels so much smarter. I think I can finally use YNAB for more than just a tool to track my spending. I think I can actually start budgeting!! I think I just got excited. Thank you!

[thebonafidebeasley]

Hi, Nick. I just started using YNAB again after taking an almost two-year break (completing my master's degree and budgeting was a bit too much to do simultaneously). I've been frustrated about how to track my savings accounts without having them reflect in the budget. Using the previous version of YNAB, it was a no-brainer. However, with the all-web version, there's a learning curve. I think your video answers my questions, though you went so fast, I had to repeat several parts to get a clearer understanding. That said, I think that method #3 is the best option for me. I'm a visual person, so when what's showing in the budget doesn't match what's in the side-lined account, I just shut down. Thank you for your expertise!

[wamsaldon]

Bless this video. I am brand new to YNAB, literally on the 3rd day of the free trial, and was super confused on how to actually determine what I'm saving with it, and this cleared up a lot for me. Also cleared up a lot on how to use YNAB in general. Thank you!!!

[JohnThePA]

I've watched your whole series and it was instrumental in getting my YNAB up and running. Thanks Nick

[judithscanlon]

after two failed attempts at using YNAB, I finally have a working budget - all I needed was the introduction and this savings video. You are amazing, thank you!

[paulineherder]

Nick.... I have been using YNab for a few years and your clear explanation s have made me decide to stick with it.... I just about gave up but I'm a believer. Thank you!

[samantharocker]

I decided to try YNAB because I found your videos when I was looking for reviews on the service. So I am a newbie, but I am going to give the third way to handle savings a go. I'm that person with 7 accounts to keep track of each category of savings & chequing. My fiancé works seasonally and if I don't have stuff sectioned off into accounts we would likely burn through it too quickly. When it comes time to spend the money I will come back and rewatch that part of your video to make sure I don't mess up! Thank you so much for taking the time to produce these tutorials. YNAB and your tutorials are my new budgeting weapons. :)

[agnlac]

#3 method is best for me! Love love love this tutorial! Thank you!!!

[TrueLoveTarot]

I have spent so much time trying to make this work before finding this video!! Thank you 🙏🙏

[TaniaMukai]

3 years ago and it keeps good and sound! Thank you for this Nick!

[chele]

This video has addressed the primary reason I wanted to start a regular account of where my money is and what to do with it. What you said in the first video I watched is exactly what had happened: hated the tedious and aimless endeavor of assigning every transaction to a category that I was already paid in order to move forward, as the rules of the platform. I have funds that cover months of expenses, and all I want/need to do is ensure my short term goals align with my long term financial plan. Thus, contributions to retirement is the primary goal I want to focus on. As you showed, I called it quits after a couple hours, where I was budgeting Jan expenses, creating havoc in YNAB complying to the rules, without any clear picture of my retirement goals sort or long term (though debating if I should link my actual retirement accounts because I have no clue). Expenses exceeding income isn’t my problem, it’s what do do with that money and what to use it for. I’m going to dive back in after watching a few more of your videos in the event it addresses this: Sincerest gratitude.

[angelammathews]

My God, your video helped me so much more than the YNAB vids. I've inadvertently been using Option 2, and my budget has been thrown off, but I understand why now. Thank you!

[gidiess]

I've been using YNAB for a number of years and finally committed to the web-based version last week. Found your videos - they are amazing! Concise, clear, and so easy to understand. I thought I had little more to learn about YNAB - I was wrong! Setting up my many savings accounts off budget was a revelation! Method 3 is a game changer!! To think I almost didn't watch this video. I just made the changes and feel better already. Messed up things royally trying to move existing accounts from On Budget to Tracking, but thankfully I'm not afraid of a Fresh Start.

On a totally related note - a future video idea: how to move an account from On Budget to Tracking and vice versa. I'm sure it would have been painless process with your excellent instruction! Thanks for all you do.