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Anyone interested in a YNAB chat/support thread?

990 replies

OrangeBlossomsinthesun · 04/09/2021 10:43

Hi,

I wondered if anyone was interested in a YNAb thread to chat about progress and help each other. I've just started the trial period a couple of weeks ago and, although it's quite a steep learning curve I'm really impressed with it.
I'm freelance so it's important for me to track money and be prepared for fallow periods. I had a thread here with some great advice. I'll add it as there are some good links www.mumsnet.com/Talk/legal_money_matters/4327812-YNAB-help-for-a-freelancer?watched=1&msgid=110514876#110514876

Anyone up for some YNAB chat/support?

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19
Justanotherquestioner · 26/09/2021 17:45

I need to get back on track with the ynab. I have zero money right now so it feels futile even bothering. Eugh

OrangeBlossomsinthesun · 26/09/2021 18:03

It's hard having no wiggle room. I have no money to spend until about Thursday when DH's paycheck comes in. But I have covered fixed expenses this month (just) without using a credit card, which I would probably have ended up doing without ynab. Or I'd have been fretting about not paying above the minimum on the credit card.
Not managed to really put anything towards long term expenses but I think that's par for the course.
It's a slow process definitely.

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katplva · 26/09/2021 21:45

In the same position as you @OrangeBlossomsinthesun, no money coming in until Thursday but at least I am still in the black which is unusual for this time in the pay cycle!

I’m wondering when I will get a chance to put money towards those true/long term expenses though, as there never seems to be much spare after covering every day life.

OrangeBlossomsinthesun · 26/09/2021 22:05

I think we will, it's just really slow at first. I really fancied going out for coffee and cake today and I think before I would probably have put it on the credit card and thought oh I'll sort that out later when I get an invoice paid but I knew that if I did I'd be making it even harder to find the money for the 3 long term expenses I have coming up in the next 3 or so months.
If I can even begin to chip away at some of those just a little next month then I will slowly begin to get a handle on things.
I also feel that a big thing has been accepting and understanding that those expenses are the key, instead of worrying about and trying to pay off the credit card as fast and as hard as possible, without taking the expenses into account and then getting into debt again when they popped up.

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BertieBotts · 26/09/2021 22:19

It really is hard at first because you're getting hit with everything at once.

The first month you essentially have twice the credit card bill because you've paid off the month before but you're also keeping money aside this month to pay it off. That's a huge chunk out of your budget if you use it for everyday spending.

Then all your future costs or true expenses are front loaded because they occur throughout the year so you have less than a year to save up for most of them.

If you're trying to get a month ahead that can be a bit daunting as well. Plus just having the reality of your finances spelled out really doesn't help.

And many of us are living outside our means, that's why we end up in credit card or overdraft debt without really knowing why.

It does get easier though. I'm back in oh crap land because although I budgeted for the shortfall in maternity and paternity pay, I didn't think to account for a delay in it paying out but thanks to covid, we've had a delay on the birth certificate and that has a knock on effect on everything else. I didn't remember this happening last time with DS2 but actually it did. We had a whole nightmare at that time financially and took out a loan and I'd always wondered all this time WTF we spent that money on because by the time we started ynab it was all gone, but now I realise it was likely just 3/4 months living expenses.

We will be fine because I'm expecting something to come through before we are bankrupt but having done a bit of a protection we really can't be spending anything other than food and petrol until something turns up!

OrangeBlossomsinthesun · 26/09/2021 22:28

Then all your future costs or true expenses are front loaded because they occur throughout the year so you have less than a year to save up for most of them. this is what is difficult for me. I don't spend on the credit card unless I get into difficulty iyswim so I am just paying down the 2000 I had run up on it.
It's the long term expenses that are piling up that is stretching everything to the limit. But if I can get a few months in I can see that things will ease and gradually, slowly I will be able to begin to cover them.

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OrangeBlossomsinthesun · 26/09/2021 22:29

The autumn is a particularly bad time for long term expenses cos I have car insurance, rates, water bill and Christmas all piling up at once.

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MissOrganisedMe · 26/09/2021 23:00

I researched this a few months ago and read somewhere that it's wasn't great for UK as it doesn't import in the same way as US version.

I've read this thread in full though and am seriously considering it again. Slightly apprehensive though but it's needed!

Justanotherquestioner · 27/09/2021 06:50

@BertieBotts when I first started ynab many many years ago I was on the credit card float. I loved it then. It was awesome. These days there is no credit card float, just stacks and stacks of credit card debt. It sucks now.

@missorganisedme there's something to be said for manually inputting the data. More ability to keep track and you can keep it to real time. Although I've given up this month.

Exciting to see some successes on here!

MissOrganisedMe · 27/09/2021 08:46

@Justanotherquestioner I downloaded the free trial last night, in time for a new month.

Love it or hate it, I'm going to give it a go. I'm hoping that it will give us a fuller picture of our finances. It's much needed.

OrangeBlossomsinthesun · 27/09/2021 08:59

I actually like not having my account linked. I like inputting the transactions. Also, my debit card isn't really a debit card. It's technically a credit card. I can set it to process payments when I spend €10 or more or every 2 days, but even if I set it to pay at €10 it still seems to take a couple of days for the money to move. So I feel like manually inputting means I am more on the ball than I would be.

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BertieBotts · 27/09/2021 09:10

I'm not sure I'd use the import even if they enable it for my region. Just seems a bit crazy to give an app access to my bank log in.

Callmecordelia · 27/09/2021 09:38

It will work differently in the UK and EU to theUS as we have tighter security. There won't be sharing logins, it will be based on open banking like sync for ynab, the third party sync service, is now. www.openbanking.org.uk/what-is-open-banking/

Still not sure it is always a good thing though.

BertieBotts · 27/09/2021 12:37

Oh that's interesting. Their website is crap - the only option when you click on "What is open banking?" is to watch a video Hmm but the idea of read-only data is OK with me.

OrangeBlossomsinthesun · 27/09/2021 15:08

Money is 20 days old!!!

If the gas bottle doesn't run out before Thursday I'll actually have about €20 to carry into next month! Exciting times! hahaha

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katplva · 27/09/2021 15:27

Exciting indeed @OrangeBlossomsinthesun! My money is still 8 days old - not sure why it is not ageing, but as long as I stay out of the red I’m happy enough.

katplva · 27/09/2021 15:36

Nooooo I spoke too soon! A direct debit has gone out that I forgot about so I am in the overdraft again Sad But at least I am more aware of it, maybe…? Trying to pull out positives here!

OrangeBlossomsinthesun · 27/09/2021 15:37

I've had quite a lot of small transactions, I think that's part of it?

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BertieBotts · 27/09/2021 16:34

Age of money is the average of your last 10 transactions so it won't change until you make more :)

OrangeBlossomsinthesun · 28/09/2021 09:30

I'm up to 21 days. But I do pay for a lot of little purchases by card.

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OrangeBlossomsinthesun · 30/09/2021 10:01

Quite excited about it being a new month tomorrow #geek. I haven't reconciled my account for over 2 weeks. The way my card works, it takes ages for some stuff to go through and there's always something uncleared. It's another reason actually that YNAB works well for me as it's quite hard for me to work out what I really have available.
Looks like I am going into the new month with €5 euros to rollover woohoo, hahaha!

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Justanotherquestioner · 30/09/2021 10:04

I just paid myself today which was exciting. I've managed to get most of my immediate expenses covered. Although not groceries.

I also managed to cover some true expenses this month and have shaved about 100 off my credit card as well as the interest.

It's been touch and go but I'm happy with how the month has gone.

Me and @katplva have our monthly budget meeting tomorrow night

Callmecordelia · 30/09/2021 10:59

Orange well done - in your first month that's a brilliant achievement. Everything is so hard with ynab at the beginning, €5 is something to celebrate!

I've spent a happy five minutes making all my categories finish in round numbers. I don't like pennies making my budget untidy. Grin

I managed to stick to my grocery budget. That's been hard, and also a bit shameful because I probably had let it get out of hand.

I've set up my budget for next month. All the money I earned in overtime has been counterbalanced by DH lack of commission. I was hoping to put some of it by for my sister's 40th birthday in March, she's talking about a spa weekend. Sad

OrangeBlossomsinthesun · 30/09/2021 11:12

I also managed to cover some true expenses this month and have shaved about 100 off my credit card as well as the interest. Oh that's brilliant!
I am waiting for an invoice to be paid before I can budget for anything more than the bare minimum going out in the next couple of days. DH's paycheck (employee, paid once a month) has come in but I am due a couple of invoices (self-employed, various payments in each month) in the next couple of days.
I'm paying the minimum on my credit card debt (about 2000€ but not growing) and my big challenge is to start to get a little ahead on the long term expenses. I've realised they are what have been destroying me for years. Once I get on top of at least some of them I will be in a much much better position.

I have been a bit horrified by what we actually spend on food compared to what I thought we spent. A good 100 a month more easily.

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Justanotherquestioner · 30/09/2021 12:00

@OrangeBlossomsinthesun I cross posted with you and didn't see your post. Sounds like you've had a good month.

In fact, we all have. I'm also alarmed at my groceries category. I'm going to separate it into groceries and random shop stuff (alcohol and crisps) because too many trips to the little shop has done it

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