You need a budget (YNAB) advice thread

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  • January2015
    January2015 Posts: 2,369
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    edited 23 May 2015 at 5:05PM
    I keep hearing about YNAB and am curious. I have a very low income (I have serious health problems so am on benefits I afraid) and few outgoings compared to many people, would it still be useful do you think?

    Definitely would be useful for you to use YNAB. To be honest the less income you have the more YNAB helps you work with what you have and ensure you use every penny appropriately. After a very short time of using YNAB you will find you have more 'spare' cash to allocate to savings/emergency funds.

    It really is amazing how this software focuses you and helps you easily understand and manage your money.

    Definitely download the trial and give it a go :)
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: Now debt free and happy :j
  • LondonGirl252
    LondonGirl252 Posts: 1,983
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    SeduLOUs wrote: »
    I'm a woman and don't know much about cars (disclaimer alert!), but air con and brake fluid service seem like strange things for a garage to randomly notice when changing a tyre.

    I could very well be wrong but it would be ringing my alarm bells of them generating work for no necessary reason and I'd be inclined to get a second opinion.



    It's the VW garage (I have a polo) so they have records on my account of when these things are due. But good point I didn't think of it from that perspective!


    I had the brake fluid done yesterday and the air con can wait.


    I get paid on Friday and I'm a few hundred quid up this month, ending the month with money in the bank is a new thing for me and I love it!


    It has been an expensive month though and June doesn't look much better as I have a trip to Frankfurt for a hen weekend to deal with, thanks goodness I now have YNAB to deal with that for me!


    Only 1 day of my trail left but tomorrow I am so purchasing that bad boy!
    Santander 0% £1,529.94
    Sainsbury's 0% £4,371.31
    Total 0% £5,901.25
    AIM: Pay off debt & simultaneously save for deposit to buy a house by Oct 2020.
    Mar Challenge: Stay within groceries & eating out budget.
  • Westie983
    Westie983 Posts: 5,213
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    edited 27 May 2015 at 7:45PM
    dont forget to use the discounts about with YNAB, check steam or referral codes - heres is mine - http://ynab.refr.cc/6TTV27V
    I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.
    Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%
    Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%
    Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%
    Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%
    £2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%
    The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%
    Total £4095.19/£7332.95 = 55.84%
  • joedenise
    joedenise Posts: 16,486
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    I get paid on Friday and I'm a few hundred quid up this month, ending the month with money in the bank is a new thing for me and I love it!


    It has been an expensive month though and June doesn't look much better as I have a trip to Frankfurt for a hen weekend to deal with, thanks goodness I now have YNAB to deal with that for me!


    Only 1 day of my trail left but tomorrow I am so purchasing that bad boy!

    It's great isn't it that feeling of having money left at the end of the month! I've got more money is savings than I've ever had before as well as regularly funding RDFs!

    My DH retires next year so we'll have far less money to live on but I'm now far more hopeful that we'll be able to manage OK without having to keep dipping into the savings.

    Denise
  • LondonGirl252
    LondonGirl252 Posts: 1,983
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    Thanks for the link!


    Yes such a good feeling, I love it, this is the most positive I have felt about budgeting ever.


    I get paid tomorrow but already I am in the mindset that this money isn't available until June so I'm still sticking to my May budget rather than spending it all tomorrow like I usually would!
    Santander 0% £1,529.94
    Sainsbury's 0% £4,371.31
    Total 0% £5,901.25
    AIM: Pay off debt & simultaneously save for deposit to buy a house by Oct 2020.
    Mar Challenge: Stay within groceries & eating out budget.
  • SeduLOUs
    SeduLOUs Posts: 2,171 Forumite
    Westie983 wrote: »
    dont forget to use the discounts about with YNAB, check steam or referral codes[/url]

    Referral codes not allowed in this thread, and far cheaper to buy from Steam for £29.99 than to buy at discounted US rate. All discussed just a few posts back...
  • japmis
    japmis Posts: 452 Forumite
    Just dropping in to update my signature, first installments to CCs paid!

    :j

    Something went awry with the Santander CC and the DD amount hasn't been updated. I will make a one off payment instead for the time being.

    Ended last month with £600 "left over" - THANK YOU YNAB!! I've transferred this to my new ISA.

    :beer:
  • LondonGirl252
    LondonGirl252 Posts: 1,983
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    Well done £600 is fab!


    I just wrote on my diary but wanted to share here too. This month I have had £150 of car repairs, a £40 parking ticket and a meal that should have cost £12 but cost £40 (bill sharing). And yet I haven't lost control of my money, I haven't used any lines of credit and I will still end the month with more money than I had a the end of last month.
    Santander 0% £1,529.94
    Sainsbury's 0% £4,371.31
    Total 0% £5,901.25
    AIM: Pay off debt & simultaneously save for deposit to buy a house by Oct 2020.
    Mar Challenge: Stay within groceries & eating out budget.
  • headachesrus
    headachesrus Posts: 224
    Home Insurance Hacker! Cashback Cashier PPI Party Pooper
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    Well done both of you.


    I ended May with £250 leftover, and my gas and leccy bill are due which I usually have sleepless nights over. The money is allocated and I'm even considering paying them before they are due so I can play about in YNAB a bit more LOL!
    Light Bulb Moment: October 2011
    Debts: Cabot [STRIKE]£3289[/STRIKE] £0 :jLink 1 [STRIKE]£4050[/STRIKE] £0 Monument [STRIKE]£2907[/STRIKE] £0 Link 2 [STRIKE]£1083[/STRIKE] £0Overdraft [STRIKE]£3450[/STRIKE] £0 :beer:

    Mortgage balance Mar 15 £16,927.68 / £14,3,810
  • Westie983
    Westie983 Posts: 5,213
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    Ambassador
    No problem, I haven't read the whole thread, I did mention steam in my original post but didn't realise about referral links...

    thanks for bringing it to my attention.
    I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.
    Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%
    Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%
    Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%
    Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%
    £2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%
    The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%
    Total £4095.19/£7332.95 = 55.84%
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