Working the numbers 2019 style

WelshKitty85

Happy new year! I've just subscribed to your diary and find your target setting very inspirational. Sounds like you had a great holiday.

mark55man

Its easy to set targets, its more difficult to make sure they are the right ones, and that you can measure and change behaviour according to them. But we have the rest of the year to find out about that

I am just going through my accounts so I can make sure I start from a clean baseline - eg we had a bit of food waste from xmas, but I'm not counting it against this year's targets - just as I am not counting some extra money comingin last year towards this years targets. The human brain can be ingenious when trying to justify performance and I just need to play it straight

findingthisdifficult

Hi mark88man,

Loving your diary and approach. I'm trying to spend more time on the boards, reading diaries and being more involved. I'm hoping to be debt free (excluding mortgage) by March next year.

I found a new app last week called Debit and Credit, the basic version allows you to track 2 accounts, I'm currently tracking bills and spending, it generates reports to show you what you're spending your money on and also where you are spending money. I guarantee my report will tell me I spend too much at Mr T (the big supermarket). You could try this and update it weekly on your night away from home.

mark55man

so thanks for the suggestion. I am more of a spreadsheet person. I have apps but I prefer working at a desktop/laptop than a tablet

Honeysucklelou2

Can't beat St Ives! Happy New Year!

DD265

You could trial YNAB to see how you get on - I really rate it. It's not free (about £70 a year) but for me personally it's been so helpful and I am actually building up funds for my annual bills now. The biggest single help for me is the goals though - you set a target, and it shows green if you're hitting it, orange if you're not, and red if you've gone overbudget - so you could easily set something like that up in your spreadsheet.

mark55man

Thank you DD265 - I did try it 18 months or so ago and didn;t really get the hang of it. One of my problems is complexity in my financal affairs which I have simplified but still looking at 3 cards, work, 3 banka ccounts (2xsolo 1x joint). I do know its important - I just didnt find YNAB helpful - but I also get that might be part of the problem.

I will look at it again - because so many people really rate it - but maybe in a month or so when I have got everything baselined

Aaleigha

I am another that cannot get on with YNAB glad it's not just me
I think having multiple bank accounts and several income stream and of course it's. I have two spread sheets one for joint account one for personal account the third account us to build up the emergency fund

I too am a laptop person

Hope this year gets you get closer to your freedom goals

enthusiasticsaver

I love St Ives and we have spent many happy hours on the balcony in Pedn Olva cafe overlooking the bay. Last time we were there in the summer we saw dolphins. I don't like Ynab either. A spreadsheet and simple accounts. One internet saver for all major savings for cars, house and holidays. Our current account pays interest so we keep a healthy balance in that for annual bills, weekends away, gifts, car and house maintenance. Joint credit card for fuel and food paid off in full each month and a personal account each for spending money. All direct debits etc out of current account along with direct debit to credit card. I record all expenditure on a spreadsheet each month. We don't have debts or a mortgage any more but you can adjust and pay the credit cards by direct debit with a fixed monthly amount. We know if we are going over target with fuel and food just by checking credit card balance.

mark55man

Thanks both - that's made me feel a bit better about YNAB :-)


That balcony is a real sun trap - even on a wintry day you can feel tropical and in the UK that's like stealing from nature