YNAB support thread (2)

[HouseofHolbein]

Just a continuation of the previous one before it fills up!

Oh gosh, I am really sorry, that all sounds horrible, really worrying

DD also will have her end of secondary (16) school trip next June. That will cost me about 1000 euros. It´s totally non negotiable that she goes on it, so I will need to save for that too. I mean, I just can´t on a moral level say she can´t go.

If I got really desperate I think my brother would help me out a bit with the loans but he´s helped me out before and I don´t want to ask unless totally desperate.

It´s more the future that´s worrying me. They way they have done it is so shitty as well, a company wide email basically saying "things are shit and we have to tighten our belts, there will be redundancies" but no more than that. There´s a department meeting in another week with more info apparently, but I expect that will be more of the same vague doom without any actual details.

I can´t do anything at the moment because realistically there´s nothing to train for that I would get employed in at 50 plus and foreign, no other jobs as good as this and if I leave I lose any possible future redundancy. So it´s just staying put and fretting until the axe falls, maybe in 2 years, maybe in 5 maybe never.

Ugh. Feel like such a financial failure.

I am thinking I will create a over pay category and as soon as i have the minimum over pay amount in it (€61) whack that on the loan and just do that as often as possible.

I hope someone who's in a similar situation (or has been) comes along, as I haven't experienced anything similar. We don't have a very large income month on month, but we'd paid off our mortgage by the time I started doing YNAB and didn't have any debts, so that's something I haven't had to deal with. I do realise how fortunate I've been.

I've got one potentially useful thought - I hope. This massively expensive compulsory school trip sounds barking. I'm sure asking for financial help is way down on your wishlist, but are there hardship funds you could look into?

No, nothing like that. You go or you don't. There is the option to sell tradicional Spanish sweets to make a bit of money but we only have some cousins to sell to so we'll be doing well to make 75€. There's no prom as such here. A ceremony at school and then a meal and disco but that's not too expensive. The main thing is the trip. They go somewhere for about five days. Sometimes Spain, sometimes abroad. DS went on his so i can't tell DD she can't. I just need to save. I have a year. Maybe next year no holiday if necessary.
This year I did think about cancelling our holiday but it's so cheap (€645 for a week in the centre of Oviedo) and I need a break.

The trip isn't compulsory but everyone everywhere goes on their viaje fin de curso in Spain at 16. It would be like saying she can't go to the prom or something. She will get a grant of around 2500€ for post 16 study the following year so if necessary i can use some of that to repay this iyswim.

I need some quotes for the roof and then work out if i need another loan for that or maybe see if my brother can give me an interest free loan. Then i need to really nail down ynab and try where possible to pay down what loans i have and try to get outgoings as low as possible in the next 2-5 years in case they sack us.

No further redundancy news so far. There is a division meeting on Monday but it is my birthday and I have the day off so won´t be able to watch the recording until Tuesday. I think it will be general doom rather than actual details though. I think anyone getting made redundant will just get an email.
YNAB had got a bit messy so I have done a fresh start today, which makes me feel a bit more in control for now.

I started YNAB in 2014 and was only breaking even until about 2019 so truly don't worry. For me the greatest benefit was not sinking back into debt, and also no longer running out of money a week before payday. It has permanently changed my attitude towards savings, debt (I was the credit card queen before YNAB and never paid them off in full, just took out a new card). I am over a month ahead now (but I don't budget that way - instead I just have various sinking funds). You WILL get there - and then you will feel amazing! When an emergency happens and you can immediately fund it, it's a great feeling.

Cannot believe I have been using YNAB for 12 years now!!!

Yeah, I am in a better position now thanks to ynab. I think it just takes a really really long time to get into the black when you are coming from debt on a low income.

They had the division meeting and it seems no redundancy for our team for the forseeable so just have to keep on keeping on.

Oh it took me a long time to finally be debt free I get it. I had been in debt continually from 19 (uni) until 43-ish? But I stopped adding to my debt at about late 30s (everytime I thought I was done I had an emergency and added to debt again.)

@OrangeBlossomsinthesun glad to hear about the redundancy, at least you have a reasonably solid basis to plan from.

The relief when you finally do get out of debt is so worth all the effort to get there. I am still a bit reckless with the expenditure but I never want to go back the debt ridden existence.

My challenge now is to make sure I am living within my means day to day. I find it hard to spend according to the budget and not according the bank balances which look healthy but are for future expenditure.....

I have just done my budget updates for June and am pleased and not pleased at the same time. I think I will give myself a B-.

Nearly had a heart attack yesterday. Have to do a tax return this year after not having to last year. Always used a bookkeeper as self employed and Spanish tax is complex so arranged for bookkeeper to do it this year. She emailed to say it was coming out as me owing €420. In the end it was that DS was coming up as contributor (just turned 18) but his minimum hadn't been applied. Once it was it comes out as owing zero. But, Jesus, I nearly cried.
Got this family wedding on Saturday which has been stressing me too (needed to buy some clothes, need to give a cash gift). Once that's over I think I will feel a bit better.

Speaking of redundancies…YNAB has just laid off a big chunk of their marketing team. If anyone watches the YouTube instructional videos, Hannah and Ben were laid off. I don’t know about Ernie & Ben from YNAB Budget Nerds—they have no new content.

Wow! I watched quite a few of those at the beginning of using Ynab.

It’s a shame. I think the YNAB videos are perhaps what sets it apart from other budgeting apps. As did the YNAB Fan Fest, although it was only in the US. They might do well to remember that a big part of their USP is the lifestyle/culture. (And there was a price hike this year—so redundancies are a surprise to me.)

Oh I loved Hannah’s videos! I hope the company is not in trouble!

I am so glad I locked in a lifetime discount for being a member before the moved online. The price still rises but lower due to the discount .

I’m actually experimenting at the moment to see if I can come to a paper based system using bank pots and a spending app for day to day tracking. I have YNAB subscription until February so I can use the two together and see whether it’s worth renewing.