How Much Time Do You Have?
On average, new budgeters save $600 by month two and more than $6,000 the first year! Pretty solid return on investment.
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Thanks to my new YNAB-fueled financial focus, I finished the month with $54 that Stressed-Out Non-YNAB Me would have wasted.
And it got me thinking.
YNAB costs $60, which is just slightly more than the amount I preserved ($54).
I’ve heard people say YNAB is pricey. Sure – $60 is more than $0. But YNAB pays for itself, and fast.
A few examples from my own life:
In January my wife and I spent $312.19 at restaurants – around $10.40 per day. The last week of March our average was $6.32. YNAB-powered awareness saved us around $28 over the 7-day stretch.
We’ve had an extra line on our account for a while (too embarrassed to admit exactly how long). Cost: $20 per month. With my new budget in place, I decided I’d rather put that $20 toward the purchase of bikes, a bike trailer, and a trampoline. I called Sprint and canceled the line. Immediate savings: $20. Longer-term savings: $240 per year.
I want a bigger monthly Betterment deposit, and $95 is a good bump. DirecTV canceled. Immediate savings: $95 per month. Annual savings: Over $1,100.
I pay my life insurance premium annually, a bill that unexpectedly drains the checking account (making for a stressful September) or the savings account (making for bummed out savers). Thanks to YNAB’s Rule Two, I’ll have the full premium payment ready on September 1. Savings preserved: $1,800.
You might say these are just simple cost-cutting exercises – easily accomplished without YNAB.
Maybe, but I give YNAB the credit for two reasons:
YNAB community: Share your story of how YNABing quickly paid for YNAB. No need to write out long stories (unless you want to). Just tell us how increased awareness/planning/enthusiasm/focus put $60 (or more) your pocket.
Remember, budgeting is not restrictive. You won’t be spending less, you’ll be spending right. You can do this! Today. Right now. What do you have to lose? Except all that debt and stress. (Ok, so kind of a lot.)
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