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Necessary cookies are absolutely essential for the website to function properly. The Budget and Accounting Act of 1921 requires the President to submit the budget request to Congress by the first Monday in February. Unfortunately, many people view a budget as a straitjacket that will keep them from doing what they want. Budgeting means you’re spending with purpose before the month begins. When it all boils down, a budget is just a plan for your money. (If you linked the account, your balance will import automatically.) What does it mean to budget every month before the month begins? Then, select your account type, give it a nickname, and enter today’s balance. Choose whether or not you’d like to link the account-which requires a few extra steps. How do you add a starting balance in Ynab?Ĭlick the Add Account button in the left sidebar.
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Don’t worry-a copy of your current (now old!) budget will be archived with today’s date in the name, which you can reference anytime by choosing Open Budget in that same menu. Click on the name of your budget in the top-left corner of the app.