YNAB You Need A Budget

[lizzieloumoose]

I bought YNAB pro a couple of years ago, went really well with it and then lost interest. I fell off the wagon, and probably for the reverse reason that most do. I'm in a well-paid job and don't spend much (although there's a threat of redundancies now). I didn't see the point in tracking my spending when I really wasn't spending much. (I'm not doing this to brag, I promise) I live with my fiancee, in a little place well within our means and neither of us is a big spender. But, we're getting married in 5 months, maybe buying a bigger house next year, and who knows, maybe kids after that? As well as that, I really want to get out of what I'm doing and it's definately going to mean I'll be earning less (and perhaps nothing at all if I'm looking after a little one) So although we're OK for now, we've got big plans for the future.

So I was sitting on some money, but I didn't know if it was going to be enough for those big plans. Did I have enough for me to go and train to do something else and not be working the same dull well-paid job? Do I have money for course fees? Was I contributing what I could to the joint account for the wedding and the house (and the kids??? ) I didn't know any of that, because I had no idea what I was spending, how that compared to what I was earning and what I planned to do with each pound (UK!) that I had left carelessly lying in the bank.

Now I'm straight. I went back and entered all the expenses I could find since the beginning of the year (there were lots of receipts. I think I subliminally knew I wanted to be back on the wagon!), filled in the gaps with my bank account and am only 60 GBP out. (wow) I've made a hefty transfer into the joint savings for the wedding and house expenses and upped my monthly contribution to the savings to keep it going. I've got a category set aside called "Freedom" which means the freedom to give up this job and find a part-time one, or whatever I need to do to be fulfilled, which I'll keep chucking money into when I can. And when I finally make the change, YNAB will enable me to keep a tight reign on those expenses while still contributing to the household.

Thanks Jesse. It feels good to be back! (and I'll be upgrading soon, I promise!)

Liz, in Greater London, UK.

[dorothyc]

Congratulations and welcome back. Sounds like you are making great progress. I am a fellow Brit who now lives in Los Angeles and I've been using YNAB Pro, lately YNAB 3 for three years. It is well worth knowing where the money is going because it enables you to focus on your goals and resist marketing temptations.

Dorothy