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Comment by ryandrake | Hacker News Reader

I like the idea as a way to track daily averages, and I'm going to definitely try it for myself. But it doesn't help me with what causes my nose to be buried in Quicken every Sunday: bills don't get paid little by little daily. They come at fixed times in the month (or year). This system doesn't help with the tactics of making sure there's the right amount in your checking account at the right time. Ive had many close calls where my paycheck is every two weeks but bills are monthly, and 2x2 weeks ≠ 1 month.

I think I'd like a service that let me get paid 1/14th of a paycheck every day and also pay [1/28 | 1/29 | 1/30 | 1/31] of my bills every day. Then, your day-to-day finances are literally an exercise of making sure there's always a small balance and that the pay-bill spread always remains positive.

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YNAB has the concept of a "buffer", which is just the idea that you have enough in your checking account to pay for an entire month on the first of the month. That way, your bills come out of your buffer and your paychecks replenish it.

This is separate from the idea of an emergency or rainy day fund, which should be an additional 3-6 months expenses in an easy-to-access account, like a linked savings account.

I realize that if you're currently living paycheck-to-paycheck this can seem daunting. Definitely check out the video lessons on the YNAB site, and think about buying the software. There's probably a way to implement it in Quicken, but I have no idea.

https://www.youneedabudget.com/support/training-and-educatio...

I was writing something longer, but essentially +1 YNAB. The videos you refer to also go over how to build up that buffer while you're living paycheck to paycheck.

Some might be turned off by having to manually input charges, by having to plan a budget each month, by being offended that they "could do the same thing in a weekend with Excel", but it's the best solution I've found for my wife and I. Not automated enough that we get disconnected from finances, but smart enough that we can easily see where we stand and run a few reports on our spending.

The system is pretty flexible, there's no need to categorize every stick of gum you buy, just use your best judgement and try not to cheat yourself.

Another +1 to YNAB here. You can get the 30 trial and extend it another 30 days if you ask. Additionally, Steam will put it on sale during the holidays so it can be bought for a reduced price through that platform.

What I like most about YNAB is the flexibility. It can be hard at times to follow the rules they set, but that is one of the rules! 'Roll with the punches'.

> This system doesn't help with the tactics of making sure there's the right amount in your checking account at the right time. Ive had many close calls where my paycheck is every two weeks but bills are monthly, and 2x2 weeks ≠ 1 month.

A paycheck every two weeks can never give you less than two paychecks a month. It'll give you three paychecks in two out of twelve months. So the issue you describe could never cause you to be unexpectedly short of cash? How could you have a "close call"? (I'm assuming here that a paycheck gives you money, and bills take it away.)

$BIGBILL comes at a fixed day each month, but $PAYCHECK happens on a different day every two weeks. Some months, $BIGBILL comes right after $PAYCHECK, in which case you're safe. Other months, $BIGBILL comes right before $PAYCHECK which means you need to find some extra money to cover the period between the bill and your paycheck. If you're living paycheck to paycheck, you always have to have these unsynchronized-cadences in the back of your mind.

This sounds terrifying. It seems like you need a behavioral solution, not a technological solution. Spend a little less, cut where you can, and save until you have a buffer. Then you don't have to worry about paycheck timing.

Welcome to the Bay Area.

That's not just the Bay Area. That's living paycheck-to-paycheck, and it happens everywhere. Sometimes even to "wealthy" people, if they find themselves cash poor (money tied up in retirement, home equity or other property, or investments).

Exactly. If you have a steady income, there's no reason you shouldn't be working on a buffer to separate yourself from bills by at least a month.

Or horribly expensive daycare for two kids :)

This is why I leave a full month's expenses in my checking account. (Actually, I leave a full month's expenses in 3 different checking accounts, to be on the safe side.)

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