YNAB...ing my way to freedom!

Mx_Emmin

SuperFrank88 said:

Mx_Emmin said:

I'm quite jealous of the people who have managed to get a month ahead in YNAB - that's like third in my "Big Items" wishlist (E Fund, "next move" fund, month ahead) (I rent, so there's always a next move, sometimes at short notice)

Ah I haven't looked into the wish list for my budget yet. I seen that Hannah did a YouTube video about the (She's so funny!) so I will have to watch that one because it would be a good motivator to have some items on the wish list to work towards, now that I have got the discipline not to impulse buy as soon as something pops into my head!

It's more of an unofficial wish list in my head haha I dont have a wish list category in my budget - but thier suggested system is worth checking out! It's not for me but it works for others

greensalad

Getting a month ahead is a dream of mine too! At the moment I can't justify it as I just need to save, but I am excited to be able to plug in the numbers for a month ahead. 

Sarahwithlove

SuperFrank88 said:

Sarahwithlove said:

Well done on getting a month ahead that's great news. My age of money has dropped from 30 days to 14 I think it's because I did some moving around of pots and redid my budget to add more categories but I'm OK with that as my job is secure and if I got really stuck I know my dad would lend me the mkney
So instead I'm focusing on rebuilding my emergency fund and just paying off what I need of my debt to clear it before end of 0% period. Good luck with getting to the second month ahead. It will take time but I am sure you will get there. 

Hi Sarah,
Yes I read your update this morning about you re-jigging your pots. You're very organised planning into the future fair play. I am the same as you, I am not getting too hung up on the age of money number anymore because I know I am in control and can re-jig things around if needs be. Keep up the great work  

I think that's what is important. We are all in different financial circumstances and it's about doing what's best for us. 

joedenise

I have to admit it did take me quite a long time to get the one month ahead and I did it while still paying off the mortgage but I didn't build the emergency fund until after I'd got the month ahead, well I did but only a very small emergency fund of about £250.  I still only have just over £1,000 but that's fine as DH has a draw down pension so if we need "big" money then we can use that.  Each time we have to use "my" emergency fund then that it is where I concentrate on funding to get back to £1,000+ then it just gets a very small amount.

Holidays are also a priority for us so that gets funded every month.  We have a motorhome and usually go to France in September but of course can't do that this year so having to tour UK instead which is going to cost far more than it does going to France so think the Holiday category is going to get depleted next month so will need to start building it up again as another holiday already booked for April next year which I'm already saving for as it needs paying in full in January!

You will all get the month ahead eventually but it does take time.  I think if I could have paid of the mortgage quicker we would have got there much quicker!  I retired 3 years before we paid off the mortgage so things were very slow going at that time.

greensalad

I feel like getting a month ahead is the same sort of thing really as an emergency fund. The way we are planning to structure our emergency fund when we get there is to cover all our necessities (rent, bills, food) for 3 months. The idea being if we both lost our jobs then we could live for 3 months with the bare necessities. Then after we've saved a little more for other purposes try to get that emergency fund up to 6 months of bare necessities. The month ahead is basically just one of those months!

SuperFrank88

Morning all,
So this weekend was all about family. Took my daughter to meet my brothers newborn for the first time which was lovely for her to meet her new cousin. Then went to see the Grandparents and drop off presents for my Nan's 82nd birthday on Wednesday. She is like a spring chicken. I hope I look as well as her in my 80's! Then stopped and met my parents in Costa which was lovely. We are not really a close nit family but it is always nice to catch up. August is always an expensive month with a few birthday but I have a 'gifts' pot that it comes out of so all good .

Unfortunately I picked up a puncture on Friday. So car has gone into the garage this morning for 2 new tyres. £120 that I wasn't expecting to pay but had planned for it with my 'car repairs' pot in YNAB/Monzo so it is not a major issue. Both rear tyres were an advisory on my last MOT anyway so they had to get done sooner or later.
I took my OH out for a meal to Miller & Carter on Friday evening as a treat as she has been shielding since March. It was busy there but lovely and spaced out which put my OH at ease. Food was great too.

Nothing really exciting on the agenda this week. All work meals were prepped last night so no excuses to wonder off the wagon! Energy levels are already starting to feel better after a fortnight of clean eating. I have three 12 hours shifts on after today so having the energy levels up is a must! 

SuperFrank88

Hi all,

So this week, car went in for 2 new tyres on Monday. £120 which was not too bad I thought. I dropped my car off to the body repair shop yesterday to have the work done from the chap reversing into my in Asda a couple of months ago. They have given me a brand new Peugeot 2008 to drive for the bank holiday weekend  

On the finance front, the defaults are really coming in thick and fast now. I think I am only waiting on Avant now which is my biggest debt so I will be glad when/if they default soon. Fingers crossed. All offer letters sent to recent defaults. I have not heard back from a couple. I certainly won't be chasing them because it will cost me a fortune in stamps  So I am pretty much set up financially for the foreseeable now which feels great knowing that I don't have to keep recycling letter that come to the house 

Meeting up with a few friends for a round of golf on Saturday which I am really looking forward to. 

SuperFrank88

So it has been a couple of weeks since my last post, purely because nothing exciting has happened!

I have started to set up payments on debt collector websites that have bought my defaulted accounts from the original creditor, all very easy. Log in, tell them what I am going to pay based on my I&E created by CAB and then set up direct debit. Simple!

I have also then added all these 'debts' into YNAB as a tracking account so every month I know the payment has been made and then it will come off the running total. This means my 'net worth' has now gone through the floor but hey-ho at least I have got a true reflection on where I am at, not just the 'black' numbers in the budget accounts.
I do need to tighten the belt with my spending though! I have read plenty of diary's that say the same. I am getting into the bad habit of YNAB's rule #3 'Rolling with the punches' where I am overspending on certain categories such as 'fun money' and then having to cover the overspend with funds from other categories such as petrol, which is fine as I do over budget on my fuel category, but it is still a habit I want to break. Maybe (Probably) I was too strict on myself at the start as I got a bit obsessed with the budget, where now I am 8 months in to using the software, I know how I can 'rig the system' so to speak. 

It could be a lot worse though because I am only ever covering those overspends with categories that are not as important such as bills etc.

I have started playing golf again. I love golf! It really is a mental release for me being out on the course come rain or shine. Weather is looking good this weekend which is great as I am meeting up with some old friends from my previous running club. I need to start running again as the weight is starting to pile on and it is getting me down! 

Apart from that it is business as usual

Frank

Sarahwithlove

I think as long as you aren't having to take it from any savings and can rejig it using your everyday spends then it's OK. But you are right I think a lot of us out noticing the difference now with spends. I think we all are a bit fed up of the whole situation and want to try do things whilst we can. 

SuperFrank88

Sarahwithlove said:

I think as long as you aren't having to take it from any savings and can rejig it using your everyday spends then it's OK. But you are right I think a lot of us out noticing the difference now with spends. I think we all are a bit fed up of the whole situation and want to try do things whilst we can. 

Yes, I think I need to not be so hard on myself but be mindful about it so that I can nip it in the bud. Yet I think my problem of putting on weight goes hand in hand with my overspending in my 'fun money' category. Too many treats! No one to blame but myself. But all savings/bills etc are fully funded.

Is there any chance of you getting to use your season ticket for the footie this season? Does not look promising unfortunately.