YNAB You Need A Budget

[fuzzyjelly]

I've been using YNAB for almost a year now. The first two 3 paycheck months went towards the buffer, but this one was just enough to pay off my car!! My debt snowball just went up to $1100 per month and I'm THRILLED!

The debt is still uncomfortably high, but I now get the satisfaction of watching it go down a solid thousand plus each month. We've been in the grueling payoff stage for so long now. We debated putting this chunk right onto a credit card, but since I am unemployed and we don't know for sure if I'll get an extension, we opted to take out one solid monthly payment. If I don't get the extension it's one less bill each month and while we'll have to cut the snowball down, we'll at least still be able to pay more than the minimum.

If I could just get a darn JOB, this would be much easier. As it is, my entire unemployment check plus a chunk of my husband's check goes into that snowball. If I could get hired somewhere the snowball could get much bigger!!

We have a long way to go and an uncertain future, but for the moment, it feels so good to have one less little thing to worry about!

[yaszmin]

Congratulations on paying off the car!!!!

[flpd1556]

Fuzzy,

Congrats on paying off your car! I wish I could say the same thing. Paying car payments for the past 14 years is getting old. I'm on the right track now to have both of my cars paid for in 3 years, instead of 6. Keep up the great work, and you will find employment soon. I'll keep you in my thoughts.

Bill

[CaptainCupcake]

Nice!

I'm on track for mine to be paid off by December. Then, that's an extra grand a month to pay off the CC, which will be history come next April. Woo!

The challenge? Staying focused!

I'm sure that same focus you applied to this milestone will serve you equally in finding that elusive job. Good Luck!

[bookman413]

That's great! Congratulations on paying off the car!

I would say that if your only source of income is unemployment right now, I would consider not sending all the Debt Snowball money in every month and just send the minimums or $10 over the minimums, and keep the cash in reserve in case you lose the unemployent. It will cost you in interest but give you added security.

Keep your actual spending to its current levels, but hoard that Debt Snowball cash until you know you have an income. Then send the hoarded cash in once you have a new source of income (or once you know how much longer you can expect unemployment benefits. but even with an extension, those benefits will expire. I would hang onto as much cash as possible until I had a job or another source of income).

[sweetums]

That's great! Congratulations on paying off the car!

I would say that if your only source of income is unemployment right now, I would consider not sending all the Debt Snowball money in every month and just send the minimums or $10 over the minimums, and keep the cash in reserve in case you lose the unemployent. It will cost you in interest but give you added security.

Keep your actual spending to its current levels, but hoard that Debt Snowball cash until you know you have an income. Then send the hoarded cash in once you have a new source of income (or once you know how much longer you can expect unemployment benefits. but even with an extension, those benefits will expire. I would hang onto as much cash as possible until I had a job or another source of income).

That is a great idea and will try that, I think you should be a financial aid counselor!