YNAB...ing my way to freedom!

FootyFanDan

This is a cracking story mate! I think its clear YNAB has certainly helped you along the way but the main contributor to this turn-around is you and the hard work you have put in to change your whole mindset is amazing. Well done, I get you re the continuing just plodding along sometimes feels like you aren't making progress and it only takes you to look at that beautiful pie chart hahaha to see your progress. Here is to another year in your journey.

Interesting re the investing it's something I have always thought about but never really had any knowledge of how to go about it. Were you a total newbie to it?

SuperFrank88

FootyFanDan said:

This is a cracking story mate! I think its clear YNAB has certainly helped you along the way but the main contributor to this turn-around is you and the hard work you have put in to change your whole mindset is amazing. Well done, I get you re the continuing just plodding along sometimes feels like you aren't making progress and it only takes you to look at that beautiful pie chart hahaha to see your progress. Here is to another year in your journey.

Interesting re the investing it's something I have always thought about but never really had any knowledge of how to go about it. Were you a total newbie to it?

Cheers Dan, this site has been invaluable for me with the mindset change. Learnt so much & I’m still learning every day from people. Yes looking forward to seeing the numbers in 365 days from now 👌

Yes I was a complete newbie with investing. Can’t even remember how I got into it. Probably seen a YT video sometime hah! I’m hooked on it now, love seeing how current affairs effect the markets good & bad. I see it as paying for my future self

Sarahwithlove

I've seen a few people in groups I'm part of on fb mention Vanguard as an option. Will look into it a bit more but like you thinking of it as paying my future self. 

Parkyp

Awe awful news on grandpa and your nan will be suffering badly to. So sad to think of them being separated after all these years.

You’ve totally turned your finances around in a year, I bet if someone told the old superfrank this would happen that you’d never have believed them lol. Good job keep it. 

SuperFrank88

Parkyp said:

Awe awful news on grandpa and your nan will be suffering badly to. So sad to think of them being separated after all these years.

You’ve totally turned your finances around in a year, I bet if someone told the old superfrank this would happen that you’d never have believed them lol. Good job keep it. 

Thank you, my nan has taken it so bad, understandably.
You're right, I would never have believed that you could make such a positive change in such a relatively short amount of time. Thanks for the support

SuperFrank88

Morning everyone,

Not much to report at the moment. It always feels like a bit of a lull the week after payday when all my YNAB pots have been filled and most the bills have gone out. So the finances are pretty quiet, which I suppose is a good thing because it means I am not spending 
Had quite a bit of snow here over the weekend and I was even late getting to work yesterday because I could not get up our very steep hill. 
Still on my tod in work. Plenty to do so it is not too bad as the day does go quite fast. Just miss being able to chat to the boys throughout the day. 
That really is all I have got to report. Hope you are all good

SuperFrank88

Hi All,
It's been over a week since I last posted! Time flies. 
I haven't really got much to report on. Sorted out income protection insurance. In the process of sorting a will out. Just want everything to be in place now so that my finances really are 'set & forget'. I have also decided to up my pension contributions from 4% to 10% instead of ploughing so much into my S&S ISA. It is a fine line between locking it away until retirement age but getting the tax relief on top or having it liquid in a ISA for when I need it. My goal is for long term investing anyway so I shouldn't need to touch my ISA unless there was a complete catastrophe that my EF wouldn't cover.

As for the debt, I think I am going to start snowballing my debts. Even though my total balance won't come down too much if I clear the smaller debts, at least the amount of debts will reduce. The smaller ones I could knock off one each month. So that is the plan I think. 
Feb & March are my 'expensive' months as all my car expenses (MOT & Service, Tax & Insurance) all come out at the same time. Luckily though this year is completely different because I have all the funds ready sat in Monzo pots, such a good feeling! Been looking at car insurance quotes the last few days and based on the quotes, I will have money left over in that pot. The joys of getting old So what ever is left over I will transfer that over to my 'car repairs' pot. That pot is growing nicely and I haven't had to touch it yet. The plan if to keep adding to that pot and eventually use it to fund a new car when my car dies. I plan to keep it going for as long as it is financially possible.

So that's it from me, oh yes, I FINALLY started weight training this week in my shed. So I am going through all the newbie aches & pains again I am going to do a full body workout 3 times a week, Mon,Wed,Fri just to begin with so that I can ease myself back into it. The mornings & evenings are getting lighter which means Spring/Summer is on the way so I need to ditch the Christmas weight  

Parkyp

Hi Frank , you life is now so organised healthy bank book and healthy body 🏋️‍♀️. Well done keep it up. I’m also organising my will, I think it’s people dying from Covid that’s finally made me get my act together. 

SuperFrank88

Parkyp said:

Hi Frank , you life is now so organised healthy bank book and healthy body 🏋️‍♀️. Well done keep it up. I’m also organising my will, I think it’s people dying from Covid that’s finally made me get my act together. 

Hi 🙋🏼‍♂️ thank you for the words of encouragement 😊 yes you’re right, I’ve been meaning to do it for years but it’s one of those things that you keep putting off. This last year has really given me a kick up the bum to get things in place to insure against the worst! Hope you’re keeping well.

SuperFrank88

Morning all,

I am absolutely over the moon today!! Woke up to a letter from THAT one creditor that was refusing to default me. Well they’ve sent me a default notice!! Can’t explain how happy I am. They have given me a deadline to clear the balance of £11.8k by the 19th of this month or they will issue the default....BRING...IT....ON is what I say to that 🤣 so hopefully by the end of the month, and 14 months after I first stopped paying, every single account will be defaulted and I can finally have a clean slate to start repaying it all knowing that the 6 year clock has FINALLY started ticking 👌