YNAB...ing my way to freedom!

SuperFrank88

joedenise said:

You know what they always say "Ask a busy person".  It's very true that if you're busy and a hard worker you'll get constantly asked to help out and it is so hard to say NO.  I do hope you manage it though because it can be so stressful.

I've just updated my MacBook and the new update has lost all my YNAB4!  I don't want to go over to the YNAB5, web-based version!  I am so annoyed it say I would lose access to all 32 bit files!  No idea what I'm going to do now for my budgeting.

Hi @joedenise , Thanks for stopping by Yes I am going to have to be more ruthless. A bonus though is there was one person in the team I manage that just loved being awkward. Would make me feel like I was asking him the world when something needed doing, well speaking to my boss yesterday and he has handed his notice in So the team is going to operate much better I am sure.

I have heard a lot about YNAB4 but don't really know what the difference is? So sorry to hear about the issues you've had! What is the reason you do not want to go onto the web based version? I absolutely love it, plus the phone based app is so easy to use. But it is all I have known since joining YNAB so would be interested to hear your thoughts.

Frank.

SuperFrank88

[Deleted User] said:

Hi, I stumbled across your thread earlier this week and have spent the last few hours reading through it all. 

You seem to be doing a great job in building up the emergency fund and tackling it head on. I'm currently 3 years into a DMP via Stepchange but got another 8 years to go  . It never even crossed my mind to not set up the DMP until I had defaulted and daftly went straight into it and therefore I had no time or money to build an emergency fund (and still don't). 

I'd never heard of the FIRE community before but following a look on Google I will definetly be following up on this. I am also 31 and can't bear the thought of working until I'm 60 or 70. 

I hope you get a positive response from Avant! I'm in the process of writing to Barclaycard over irresponsible lending, despite me already having credit card debt higher than my annual salary they kept increasing my credit limit until it doubled the original balance. I'm not too hopeful of getting anywhere with them but I thought it would be worth trying.

Hi @[Deleted User] , 
Thanks for the comment. Wow I appreciate you investing that much time reading my diary. Are you still living in Wales? 
I was so close to pulling the trigger and setting up with Step Change, so lucky I found this site first. Could I ask, have all your accounts defaulted now after 3 years since starting the DMP? This is the most frustrating thing I am finding so far, just how long it is taking for them to default, plus the whole COVID situation hasn't helped. 
Yes the whole FIRE thing is pretty intriguing, but I am a firm believer in you also have to enjoy life because you do not know what is around the corner. I agree with a lot of the principals, but trying to keep it real too you know? It helps that I am in a job that I really enjoy, even after 10 years. I am sure that if I was having to go to a job I hated just to try and save as much as I could to reach FI then it would be a lot more challenging. Or maybe it would make me more determined to throw everything into savings.  Budgeting is by far the best tool that I have used since the start of the year to help me get control. I suppose everything has to start with a budget, like the foundations. 
I am not holding out for much luck with Avant, but if they hold up then I will just offer them a monthly payment (Once defaulted obviously) that has been created using the self managed Citizens Advice tool. 
Good luck with Barclaycard. Fingers crossed you get the result you want.

Frank

[Deleted User]

SuperFrank88 said:

Hi Welshguy, 

Thanks for the comment. Wow I appreciate you investing that much time reading my diary. Are you still living in Wales? 
I was so close to pulling the trigger and setting up with Step Change, so lucky I found this site first. Could I ask, have all your accounts defaulted now after 3 years since starting the DMP? This is the most frustrating thing I am finding so far, just how long it is taking for them to default, plus the whole COVID situation hasn't helped. 
Yes the whole FIRE thing is pretty intriguing, but I am a firm believer in you also have to enjoy life because you do not know what is around the corner. I agree with a lot of the principals, but trying to keep it real too you know? It helps that I am in a job that I really enjoy, even after 10 years. I am sure that if I was having to go to a job I hated just to try and save as much as I could to reach FI then it would be a lot more challenging. Or maybe it would make me more determined to throw everything into savings.  Budgeting is by far the best tool that I have used since the start of the year to help me get control. I suppose everything has to start with a budget, like the foundations. 
I am not holding out for much luck with Avant, but if they hold up then I will just offer them a monthly payment (Once defaulted obviously) that has been created using the self managed Citizens Advice tool. 
Good luck with Barclaycard. Fingers crossed you get the result you want.

Frank

Yes still in Wales, just outside Cardiff. 

All of my debts defaulted quite quickly as my DMP payments are well below the standard minimum repayments I was making prior. I think it was about 4 or 5 months for them all to come through. Lloyds and Halifax were the worst to deal with, they like to transfer your debts around to various collection agencies. 

I was in a very similar position to yourself originaly, in that my partner did not know about any of the debts but it all came to head when I had a breakdown and confessed everything to her. 

I work for myself but not in a profession that I particarly enjoy anymore and I'm not really in a position where I can change that. 
I've recently started using YNAB again and really hope we can stick at it this time, it's so easy to see a bit of money in the bank and think you can afford to go out or buy things etc when in reality that money is for next months bills. 

Drawingaline

Well I said no to my boss today!!! I could have done the job and had offered as one offs, but she wanted me regularly until the end of July so said I will help today and occasionally but can't commit for six weeks. Feel bad, but it needed to be done.

joedenise

I reason I don't want to go to the web based version of YNAB is because I bought YNAB4 outright which was supposed to be for life.  It would have been fine if Apple hadn't decided to update the operating system to a 64 bit only system!  Unfortunately on the Mac I have I am unable to undo it, undoing it can only be done on newer versions than mine!  My Mac is a 2011 version so doesn't have the feature to go back to the previous version which is really annoying.

I really don't want to go down the regular payment for the same thing!  I'm now retired and really don't want an additional monthly or annual payment coming from my account.  I currently work a month in advance and on a pension really can't "age" my money any further as I'm on quite a small work pension in addition to my state pension, which is under the old system so not as high as post 2016 retirees unfortunately.  I'd be a couple of hundred pounds a month better off under the new system but hey at least I retired early at 58 but didn't collect my pension until 4 years later (born in the 50s)!

monkey62

Hey Frank, I didn't know if I would be successful with my complaint letters but I did believe I was lent to irresponsibly.  I'm so glad I sent them off. It's nice when creditors recognise their error rather than pestering for payment and applying ridiculous amounts of interest.

SuperFrank88

Welshguy24 said:

SuperFrank88 said:

Hi Welshguy, 

Thanks for the comment. Wow I appreciate you investing that much time reading my diary. Are you still living in Wales? 
I was so close to pulling the trigger and setting up with Step Change, so lucky I found this site first. Could I ask, have all your accounts defaulted now after 3 years since starting the DMP? This is the most frustrating thing I am finding so far, just how long it is taking for them to default, plus the whole COVID situation hasn't helped. 
Yes the whole FIRE thing is pretty intriguing, but I am a firm believer in you also have to enjoy life because you do not know what is around the corner. I agree with a lot of the principals, but trying to keep it real too you know? It helps that I am in a job that I really enjoy, even after 10 years. I am sure that if I was having to go to a job I hated just to try and save as much as I could to reach FI then it would be a lot more challenging. Or maybe it would make me more determined to throw everything into savings.  Budgeting is by far the best tool that I have used since the start of the year to help me get control. I suppose everything has to start with a budget, like the foundations. 
I am not holding out for much luck with Avant, but if they hold up then I will just offer them a monthly payment (Once defaulted obviously) that has been created using the self managed Citizens Advice tool. 
Good luck with Barclaycard. Fingers crossed you get the result you want.

Frank

Yes still in Wales, just outside Cardiff. 

All of my debts defaulted quite quickly as my DMP payments are well below the standard minimum repayments I was making prior. I think it was about 4 or 5 months for them all to come through. Lloyds and Halifax were the worst to deal with, they like to transfer your debts around to various collection agencies. 

I was in a very similar position to yourself originaly, in that my partner did not know about any of the debts but it all came to head when I had a breakdown and confessed everything to her. 

I work for myself but not in a profession that I particarly enjoy anymore and I'm not really in a position where I can change that. 
I've recently started using YNAB again and really hope we can stick at it this time, it's so easy to see a bit of money in the bank and think you can afford to go out or buy things etc when in reality that money is for next months bills. 

Ah good man, Won't say where I'm from but its a type of bird and you don't like us very much 

Oh I hope it isn't too much time before mine default! One of mine is actually with Halifax too so it will be interesting to see how that pans out after your experience. 
How did your partner take it? I am glad I told her everything in the end. Makes it so much easier when the letters keep coming to know she knows everything and I don't have to hide anything.
Hope the YNAB goes better for you this time around. I absolutely love it, but it is all I know now so I am biased! 
Have a good weekend bud.
Frank

SuperFrank88

Drawingaline said:

Well I said no to my boss today!!! I could have done the job and had offered as one offs, but she wanted me regularly until the end of July so said I will help today and occasionally but can't commit for six weeks. Feel bad, but it needed to be done.

Well done @Drawingaline, I bet that was tough for you. But you will no doubt thank yourself for not swamping yourself.

SuperFrank88

joedenise said:

I reason I don't want to go to the web based version of YNAB is because I bought YNAB4 outright which was supposed to be for life.  It would have been fine if Apple hadn't decided to update the operating system to a 64 bit only system!  Unfortunately on the Mac I have I am unable to undo it, undoing it can only be done on newer versions than mine!  My Mac is a 2011 version so doesn't have the feature to go back to the previous version which is really annoying.

I really don't want to go down the regular payment for the same thing!  I'm now retired and really don't want an additional monthly or annual payment coming from my account.  I currently work a month in advance and on a pension really can't "age" my money any further as I'm on quite a small work pension in addition to my state pension, which is under the old system so not as high as post 2016 retirees unfortunately.  I'd be a couple of hundred pounds a month better off under the new system but hey at least I retired early at 58 but didn't collect my pension until 4 years later (born in the 50s)!

Hi Joedenise,

Ah that is a bummer that you had paid for it thinking it was for life. Apple a buggers, they have so much control! I am still on my iphone 7 which I have had for about 4 years now and I think it is the next in line to stop receiving software support, so not sure what I am going to do when that happens. The old me would've just got the newest shiny iphone on a ridiculous monthly contract. Not anymore though! I will keep it until it dies, which going by it's recent performance will not be too long away. 

My OH said to me before she got into YNAB, "why would you pay for something that is meant to save you money". I get it, I really do, but I am useless at spreadsheets and would never be able to create something even close to what is built in to the YNAB software, so to me it is worth the £5.53/month subscription to have complete control over every penny.

Hope you have a lovely weekend.
Frank

SuperFrank88

monkey62 said:

Hey Frank, I didn't know if I would be successful with my complaint letters but I did believe I was lent to irresponsibly.  I'm so glad I sent them off. It's nice when creditors recognise their error rather than pestering for payment and applying ridiculous amounts of interest.

Hi @monkey62
I hope you are well? Yes I am glad I have sent it off to, no thanks to reading about your experience (so thank you for that). I will be sure to update as soon as I hear back from them. They were super quick in replying about the SAR request so hopefully I should hear from them next week. I would assume they are not having much interaction with clients during this uncertain time so they may respond quicker.

Enjoy your weekend.
Frank