4 ms·

How many hours a month do you spend on data entry of expenses? This has always been the biggest deterrent for me.

• Jtsummers 10y ago
  My time commitment varies, early on it's high, but then it's gone down to saner levels as I've used it more. For purchases, I put in less than one minute per transaction (for data entry). For bills, I set them up as recurring scheduled transactions on the same day of each month. I then verify them when they become current, shifting the date or the amount as needed, takes a few seconds for each one. I've done the same with my income (reliable, salaried, paid bi-weekly). I only track cash assets and CCs. My investments, retirement accounts, and other assets don't get tracked because I don't consider them part of my budget (though contributions to them are). So once a week (more early on, getting the hang of things), I go to my bank and CC websites and make sure I haven't missed any transactions, clear all the ones they show as cleared, and reconcile all accounts. This takes less than 5 minutes per account if done this frequently. All told, I'm probably spending less than an hour a week in YNAB, and half of it is updating the budget itself as income comes in and needs to be allocated, or verifying that I have the money before making a purchase.