Debt free by 40 -- 19 Months and counting

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  • mizmir
    mizmir Posts: 3,710
    Debt-free and Proud!
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    Hi Steph Great to see you going on and those numbers coming down. The car costs is a pain - but you have a good part of it saved - well done you for that. I have just had to replace all 4 tyres on my car too - got it for £400 but they are more standard ones than yours I think. But you will get through this!

  • On the YNAB issue. Do you get paid Monthly or Weekly??


    We get paid weekly so ours is quite complicated but either way what I have done is:-


    In the BUDGET Screen


    I have set up Categories which are Weeks of the Month.


    Week 1
    Phone (1st - £48)
    Car Insurance (2nd - £31.72)
    Water (1st - £65)
    TV Lic (1st - 12.12)
    House Ins (7th - 56.48)
    FOOD (£60)
    FUEL (£60)
    FUN (£20)


    Week 2
    Council Tax (8th - £163)
    Electricity (15th - £27.69)

    I get the main bulk of the money (DH's wages) right at the beginning of the month but we get money through the month which equals half his wages again scattered all over the place :eek: I've set up the budget just in categories as it already was i.e yearly bills, daily expenses, savings goals etc. Yours sounds like a good idea I might have to look into changing it around a little as we again have the bulk of the DD's due out on the 1st of the month but there are a few who refused to change so I transfer money on payday to a bills account and on the ynab I've allocated this account as a "budget account" so I can see the money is available for spending (on bills...then I transfer across as and when the money is pending) I have 7 off budget accounts on there which are nice to see :)

    So with it all laid out in the BUDGET screen like this, I don't need to put it all in the ACCOUNTS screen under Scheduled transactions because the Budget screen reminds me what Bill need money allocated to them each week.


    All I put in the scheduled payments section is all the incoming monies. (Hubby's weekly wage, Child Benefit, Children's Tax Credit) just so that I don't forget.

    I've only put incoming monies in too....didn't even realise you could put outgoing into it :o I think what confused me when I posted before was that there was no outflow money....then I realised I had to put in bills/spends as they went out :rotfl: duhhh....so it's making more sense now as before I just literally had the budget and nothing was in the outflow!
    Now, if you are monthly paid then that is super easy. You don't need the WEEKLY categories, just put all your bills in date order that they go out.


    when a bill goes out of you account, you go to the accounts section of the YNAB screen and load it in and the reconcile.
    How do I put a date on it? Or do I just put in order for my reference only and the ynab doesn't need to know the date it's due? This is the bit that is still confusing me :o

    I like to reconcile every day after updating across from my online Bank statement so that I keep it up to date. Otherwise if there is a slight difference you don't have to scroll back weeks to try and find the mistake.

    :T Will try to do this! Good tip as I also had this problem when I neglected my last spreadsheets :o

    I do think YNAB will be confusing if you are living in your overdraft, like I used to be. but it is still possible, you will just have to get used to living with the red numbers all the time, but hopefully you will see the total minus figure getting lower every month.


    I have no clue if all my nattering has made any sense to you.
    Ask me anything else about it, I will be happy to chat about it. Pity we can't speak over the phone as it would be so much easier to explain. Keep watching their video's they really helped me.


    Keep going xxx
    Yes makes much more sense and I will keep on trying :rotfl: I think my brain sees numbers and goes into shut down hence why it takes me so long to get anything :o:p Thank you :D
    2024 Mortgage-free wannabe #17
    OP straight to mortgage - APRIL
    MOP savings account 900 / 3000 to be paid later this year
    Mortgage balance Jan 1st 2024 £99224.13 Feb 1st £98,833.72 Mar 1st £98,928.18
    Apr 1st £
    Emergency fund £1255.78/ 1500 84%
    Food Budget - JAN 484.44/500, FEB 488.59/500, MAR 439.33/500, APR 0/500
  • StressedSteph
    StressedSteph Posts: 2,834
    First Anniversary Combo Breaker
    Forumite
    Morning all,


    Just waiting for a delivery before I head into our nearest big town to get all four of my tyres replaced :eek:. (£548).


    Then tomorrow the car is booked in for its MOT :o. I have about £200 left over to cover anything else that may be wrong with it. Pleeeeease send positive thoughts my way tomorrow. It would be so amazing to get the car through without too much of a nightmare.


    Not much else happening today, I don't feel like I can make any debt payments with extra cash I have until this MOT business is over. I may need every penny I can scratch together.


    So hopefully get past this week and then I can start spending hubby wages on trying to meet my 1k debt repayment target for June. I may need a small miracle.


    Hope you are all having a frugal stress free week.
    xxxx
  • misstara
    misstara Posts: 3,871
    First Anniversary Name Dropper First Post I've been Money Tipped!
    Forumite
    Good luck with the MOT tomorrow, positive thoughts winging their way towards you :)
    Debt Dec 2022 - £2972.68. Current debt - £0 (100% paid). Flat deposit - £10527.15/£15000 (70.2% saved). Emergency fund - £1356.48/£1500 (90.4% saved).
  • mizmir
    mizmir Posts: 3,710
    Debt-free and Proud!
    Forumite
    Positive thoughts for the MOT - hope it will pass with flying colours!
  • mfmaybe
    mfmaybe Posts: 1,176
    First Anniversary First Post
    Forumite
    Good luck with the car. I know it feels like a backward step when you have to shell out large lumps of cash. But life costs money. And the fact you are still hoping to pay £1k off the debt; as well as the fact that this money was mainly set aside, is just fantastic. Without your hard work you'd have just lumped the payment onto another card. So big pat on the back and fingers tightly crossed.
    0% card was £1126.91 / Now £1502.37

    AFD March 2/15 NSD March 2/11 :T

    Other debts paid since 1/1/14: £17,005
  • StressedSteph
    StressedSteph Posts: 2,834
    First Anniversary Combo Breaker
    Forumite
    misstara wrote: »
    Good luck with the MOT tomorrow, positive thoughts winging their way towards you :)
    mizmir wrote: »
    Positive thoughts for the MOT - hope it will pass with flying colours!
    mfmaybe wrote: »
    Good luck with the car. I know it feels like a backward step when you have to shell out large lumps of cash. But life costs money. And the fact you are still hoping to pay £1k off the debt; as well as the fact that this money was mainly set aside, is just fantastic. Without your hard work you'd have just lumped the payment onto another card. So big pat on the back and fingers tightly crossed.


    Thanks guys. I guess I always knew that June was going to be a rough month, that's why I fought to pay extra off on other months to make up for a quiet June.


    Hubby always gets extra little payments here and there and I can normally put them towards the debt, but everything that comes in atm has to go into the car pot.


    Like you said mfmaybe, usually I wouldn't have saved anything, so I guess I should feel happy that at least the money is there to use for the car, instead of the usual total panic of which card still has any credit on it :o


    Car has new boots all round now, they look very nice and weirdly the car feels nicer to drive. Sure its all in my head.


    Can't wait to get past tomorrow so I know what I am facing.


    xxxx
  • maddiemay
    maddiemay Posts: 4,979
    First Anniversary Photogenic Name Dropper First Post
    Forumite
    More positive thoughts for the MOT tomorrow winging their way to you. As well as being of insufficient tread the walls of the tyres were probably deteriorating too so new ones will be much firmer/more rigid, hence the feeling different. I am sorry that it is such a costly excercise, but when you wrote what the mechanic said, my first thoughts were thank goodness you had not been involved in an accident as well as potential injury the powers that be would have thrown the book at you and the insurance position might have been pretty iffy too, so although it feels tough, someone was taking care of you. (My nephew had a stroke of luck last week, he was pulled over one night when the police were doing a breathaliser check in the village after the pubs had turned out, he does not drink and drive, and fortunately they did not do any other checks as a couple of days later he realised that his MOT had expired a month sooner than he thought it did:eek:)
    MM
    xx
    The best thing about the future is that it comes one day at a time. (Abraham Lincoln)
  • I echo what everyone else has said and well done for having the cash for paying for the tyres! I have my fingers crossed that it passes it's MOT now :)

    We had worn 2 of our tyres down to the bare minimum and hadn't realised either :eek: after getting new ones it did feel nicer to drive so it's definitely not in your head :p xx
    2024 Mortgage-free wannabe #17
    OP straight to mortgage - APRIL
    MOP savings account 900 / 3000 to be paid later this year
    Mortgage balance Jan 1st 2024 £99224.13 Feb 1st £98,833.72 Mar 1st £98,928.18
    Apr 1st £
    Emergency fund £1255.78/ 1500 84%
    Food Budget - JAN 484.44/500, FEB 488.59/500, MAR 439.33/500, APR 0/500
  • Ciaerda
    Ciaerda Posts: 60 Forumite
    Keeping everthing crossed for you Steph x
    Ciaerda:T
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