How Do I Handle Multiple Currencies In My YNAB Business Budget?

How Do I Handle Multiple Currencies In My YNAB Business Budget

 

US dollars, Canadian dollars, Australian dollars, Pound sterling…have you ever wondered how the heck you could ever implement Profit First when you are dealing with different currencies?  Don’t lose hope!  It is possible for you to successfully use the Profit First system and keep track of everything using YNAB! 

In today’s online entrepreneur space, it is quite common for businesses to be selling services in one currency and paying expenses in another currency.  While a skilled accountant will undoubtedly be necessary for your business in these circumstances, I don’t want you to feel like you can’t still be your own cash flow manager!  Knowing your numbers and not relying on your accountant to tell you what’s happening is so empowering, and I want that for you!

While dealing with multiple currencies is not as straightforward as just using one, I think you’ll find it’s quite doable!  In this week’s episode of  Profit for Joy TV, I explain how you can absolutely still use Profit First and YNAB while working with different currencies.

We’ll cover:

  • The YNAB currency rule you need to know
  • An activity to help you get clear on the flow of your money
  • How to keep it all straight

 

 

Action Item:

Take a moment to draw out your diagram and report back – what did you discover? 

We’d love to hear your thoughts!

Have a topic you’d like to hear some tips about?  We’d love to hear from you!  Click here to let us know!

About The Author

Amber Dugger

Hi! My name is Amber Dugger and I am a location independent online business owner. I am a certified mastery level Profit First Professional, hold degrees in International Business and Finance, and am also a certified Health Coach (INHC). I combine a holistic approach with practical action steps to get my clients set up for financial success and most importantly, sustainability. My clients leave knowing how to bring in money, how much money they want and a simple and effective system in place that allows them to know what to do with their money once they have it.

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