YNAB & DFW challenges
allthe7s
Posts: 187 Forumite
Hey
It might just be me not getting it but I don't understand how I can take part in any of the challenges (saving £2s or sealed pot challenge, PADing etc) when using YNAB because there isn't any money spare so I'd be constantly taking it from somewhere it's needed :undecided:undecided
Could someone explain how they do it please.
Thanks x
It might just be me not getting it but I don't understand how I can take part in any of the challenges (saving £2s or sealed pot challenge, PADing etc) when using YNAB because there isn't any money spare so I'd be constantly taking it from somewhere it's needed :undecided:undecided
Could someone explain how they do it please.
Thanks x
Preparing to go bankrupt April 2020
0
Comments
-
The main focus of YNAB is to eventually get yourself into a position that you are paying this months expenses on last month income which can be difficult to achieve if you are living from pay cheque to pay cheque. The advice they give is to 'up the income' or go cold turkey for a couple of months and cut out spend on frivolities for few months. IMHO that would assist in these daily challenges that you outline.0
-
Hi, I use ynab and find I wam unable to do the tilly tidies or pad payments. However I could (if I wanted) do a sealed pot challenge as I don't track cash once it is withdrawn, mainly because I don't deal with cash much at all.
So I don't do any challenges, but I am paying down debt. I hold anything extra in an overpayment category and will wam from here throughout the month if I absolutely have to, but try not to, and then make a large overpayment before the next payday.
I do however make additional payments to my loan from my entertainment category throughout the month if I can, I like to pay my £40 interest charge separately each month if possible, normally from entertainment or food.
Other people will make small payments to debt the day before payday when categories will be refilled, using any extra pennies due to roll over.Debt free Feb 2021 🎉0 -
At the end of every week I 'skim' the different categories to the nearest £1 or £5/£10 depending on the account. For example say I had £32.56 left in the gifts account, I would move £2.56 (or 56p depending on what I needed in the account) to a separate category to then be saved.Starting a new debt free journeyStarting Debt: £5,250Current Debt: £4,995.50Amount Paid: £254.50 Percentage Paid: 4.84%Emergency Fund: £3500
-
Thanks all
Mrssave & drawingaline thank you for explaining how you each do it, that gives me some ideas. I also don't track cash once its withdrawn so might start clearing out my purse on a Fri after DS has had the weeks bus money.Preparing to go bankrupt April 20200
This discussion has been closed.
Categories
- All Categories
- 343.1K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.2K Work, Benefits & Business
- 607.9K Mortgages, Homes & Bills
- 173K Life & Family
- 247.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards