Coffee Cup's Journey to a Guilt Free Latte :)

greent

Just found your diary - yeay re first OP made! Look forward to hearing of your further progress


x

hanging_on_in_there...

Congrats on your mega OP! Really pleased for you!

Bo xx

Coffee_Cup

giblet1979 wrote: »

Hey coffee,
There is a tutorial on the website that talks about using a credit card and paying it off each month. I used the trial without watching the vids properly and do regret it because it makes a lot more sense now! You can watch a lot of the stuff without starting your trial.

Hurrah to your lawn seeding! x

Thanks Giblet. I will look for the tutorial. I think I just jumped in too and dont really know what I am doing so I will try and take some time and look at it properly tonight when a certain 3 year old isnt sitting on my knee trying to 'help'

Lawn all ready for the seed to go down now - who knew so much prep was needed! Cant see any rain clouds so maybe, just maybe we will get it done today

Coffee_Cup

hanging_on_in_there... wrote: »

Congrats on your mega OP! Really pleased for you!

Bo xx

Thanks Bo

Coffee_Cup

WishIwasstill25 wrote: »

Fab news, well done, £8500 is an amount of money I can only dream of....

Thanks WIW. I know, it is a lot of money but believe me our pots (ALL OF THEM) are now well and truly empty. No savings left at all!! The overpayment was more important to me this month Counting on Mr C having a good few months at work so we can start regular overpayments. Have a fair few other things to pay between now and April though so am going to have to be realistic.

Coffee_Cup

Polly_Wolly_Doodle wrote: »

Epic:beer:, that is just fabulous, well done. Nothing wrong with beans on toast!

Thank you PWD. Good job we all like beans on toast

Coffee_Cup

jodles16 wrote: »

Hello! I have just started my own MFW diary and my mortgage is very similar to yours! I will subscribe and good luck!

Hello I look forward to hearing your story too. Good luck too

WishIwasstill25

Hi Coffee, took me a few days to get my head round Ynab, but I love it. Only reason I've not logged on today is because it's a NSD! Keep going. You can use credit card on it, because you budget the money you have, then you would do a ynab transfer from an account with real money.

In fact if it was me, at the start of the month I would do a ynab transfer from the account you pay the cc with to the cc balance, then assign all cc transactions to it, and put the correct categories on each transaction. At the end of the month you do the transfer of real money to pay off the cc.

All totally muddled I'm sure, but it may work.

Coffee_Cup

WishIwasstill25 wrote: »

Hi Coffee, took me a few days to get my head round Ynab, but I love it. Only reason I've not logged on today is because it's a NSD! Keep going. You can use credit card on it, because you budget the money you have, then you would do a ynab transfer from an account with real money.

In fact if it was me, at the start of the month I would do a ynab transfer from the account you pay the cc with to the cc balance, then assign all cc transactions to it, and put the correct categories on each transaction. At the end of the month you do the transfer of real money to pay off the cc.

All totally muddled I'm sure, but it may work.

Yes, I can see how it will become addictive. I managed to download this last months credit card statement and have allocated all that but I think it will take a couple of months for me to work it out properly. I think it will he really interesting to see exactly what I spend on food and eating out. One question I had re budgeted amounts was do they roll forward if you don't use them that month? For example, I usually budget £50 for birthdays per month but if you don't use it will it make it £100 for the next month or do you have to manually change it. Most things if I had an underspend I suppose I would just want to put it to the mortgage but for things like that I want to carry them forward. Looking forward to spending more time on it but working tomorrow, out at a meeting at school tomorrow night and then on Thursday I need to focus on cleaning the house. I am getting so focused on spreadsheets, apps etc that all else is being neglected

WishIwasstill25

It seems that you can copy your budgeted amounts over from one month to the next (into column 1 of that months spend) then column 3 has the balance in that 'pot'

So I budget £150 for food in month 1, in month 1 I spend £100. The tell ynab to put month 1s budgeted amounts into month two. So it allocates £150 to food in month 2, but the balance reads £200.
One of the ideas of ynab is that you get to the point where you are not living month to month, but are working ahead of yourself. So what I've done is fiddle with the budgeted amounts, so that my balance column would read £150 (for food) so in the example above I would only allocate £100 in month 2.

As I said, I'm still working it out. But I do like it. I know it says every penny needs a job, but to get to the month ahead situation I am going to allocate the income for the month, but leave any underspend up allocated until I get to that 1 month ahead. The mortgage overpay will suffer for a bit, but it will be much better in the long run.

Have fun.