Age of Money - Twenty-twenty!

Hey, in my variant of English it rhymes!

Starting up the AoM challenge for the new year!

----RULES----

1. Choose a day every month that you will post your AOM to the google spreadsheet (link below). 

Be consistent on the day that you have chosen to post your AOM. (Your metrics will not help you or provide you with useful data if you are not consistent.)

2. Post your AOM.

3. Comment below that you have updated the spreadsheet.

If you want, you may post a screenshot of your AOM. This will be fun and will help keep the thread alive. It's not required however.

4. Try to keep the thread on topic.

Changes to the Spreadsheet.

If you see any minor changes that ought to be made, go ahead and change it.

Cheating

Cheating is posting a number that is not your actual AOM, or changing your number because your AOM increased the following day.

We are following the the honor/honour system. 

You do not need to cheat, but if you do, everyone will ask how you've become so awesome with money and then you'll have to live with yourself. It only hurts you.

https://docs.google.com/spreadsheets/d/1mqceQ-S1F_brlUyQmjplJ6LrclPn-MrwzG6hFDqzMo8/edit?usp=sharing

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  • Good Morning 馃槉 ! I almost forgot about looking at my age of money. 

     

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  • Forgot about the extra day in Feb. this year.  Squeezed out another day of AOM. 馃槉

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  • If I'm spending our Social Security checks, our AOM is 1-15 days.  If I'm spending the retirement money we  started putting away years ago, our AOM is somewhere between  2,000 and 13,500 days (last and first contributions.)  AOM is a funny concept when you are tapping the retirement funds.

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  • February check-in:

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  • I'm up 7 more days to 304, but I remember I have a Very large payment coming up in a few months that's going to make my original goal almost impossible. I'll still track it, but I'm pretty sure 365 will have to wait until next year.

    Like 5
      • Peripherie
      • Tomato_Captain.11
      • 8 mths ago
      • Reported - view

      Faness Wow, congrats! I can't imagine how you assign dollars jobs that may days out. Right now at 23 days, I am still having trouble imagining getting past 30 days AOM. Does budgeting feel different when you get so close to a full year out?

      Like
    • Peripherie No matter how high Age of Money climbs, I've never budgeted more than a month ahead. The budget is a well-oiled machine at this point, but giving every dollar a job still feels the same (just more comfortable)! :)

      Like 2
      • Peripherie
      • Tomato_Captain.11
      • 8 mths ago
      • Reported - view

      Faness So do you just hold excess income in a 'move to next month' category?

      Like
      • MsTJ
      • YNAB has given me back my future
      • Believer_in_YNAb
      • 8 mths ago
      • 2
      • Reported - view

      Peripherie The "excess" normally sits in different categories.  Things like true expenses or long term goal, and your fun target gets some.  That's the way it works for me. 

      Like 2
    • Peripherie I don't use a holding category for income. Like MsTJ, all of my funds are allocated to my spending and savings categories. 

      Like 2
    • MsTJ
    • YNAB has given me back my future
    • Believer_in_YNAb
    • 8 mths ago
    • 2
    • Reported - view

    Range in February has been:

    AoM.    43-69, slowly increased during the month, ending at 69

    DoB.   637-957, This was all over the map, went down when payment went out, up when payment came in, swinging wildly, ending at 750

    Remember I did a fresh start, for January 1, with an AoM in my old budget of 141.  Actually did the fresh start on 12/14/2019 to give me time to get all my balances, accounts, categories, goals lined up for 1/1/2020 and my new focus.  A new decade, the '20's (1/1/2020 - 12/31/2029) and a new budget. 

    Things have already changed for March, and this is only the first

    Like 2
  • After a fresh start in January 2020 my first AOM is 30 days 29 Feb.

    Like 5
  • Updated, managed to gain 1 day, now at 126

    Like 4
  • AoM 374 days for February, that's 14 days down from January.

    When budgeting March my budget seemed a bit tighter than usual. I tried looking back quite some months, but I didn't easily find any other month with such a low payout. I'm really hurting here without my monthly performance bonus ... 馃槀

    The savings dropped to only 21% (so far) of net income for March. Yeah, yeah. First world problems.

    Like 1
      • MsTJ
      • YNAB has given me back my future
      • Believer_in_YNAb
      • 8 mths ago
      • 2
      • Reported - view

      Moohouse 

      Congratulations on achieving an AoM of 374.  One day I will be there.  馃弮鈥嶁檧锔

      Moohouse said:
      When budgeting March my budget seemed a bit tighter than usual.

       I know I still have more to learn because I don't seem to understand why one month seems tighter than others. Most months my income doesn't change much. My expenses don't seem to change and one month I don't have quite enough to fully fund my budget (January) then another there is extra (February).  My card payments change but that should not have anything to do with what I budget to my separate categories, so long as I stay within my budget?  Some months I have to close my eyes and just follow the plan (budget template) and know things will work out in the end.  I don't like the "not knowing" so am constantly trying to understand.  Sometimes I make progress, and some months I don't.  All I do know is I have more in my bank accounts, and better funded goals most months.

      Like 2
      • Moohouse
      • Software developer
      • Moohouse
      • 8 mths ago
      • 1
      • Reported - view

      MsTJ My income does vary quite a bit month to month, but lately I have earned more than this month. Or rather last month, as I budget last month's income this month. December, January and February are all high yield months for me. Then March becomes first 'normal' month - except this time I got no bonus - so it's bare bones normal, which by now is no longer normal for me. March is 12% lower than the lowest income month last year. And 28% below the average. But still, this used to be normal for me.

      Are you sure the 'overspent in X' line in the budget header reads 0.00? Else your budget amount shouldn't vary much when you have fairly stable income.

      There shouldn't be a problem getting to >300 days age of money if you either save a lot every month, or spend a really long time saving a little less each month, and don't spend much money. More than 365 days means you can't do a fresh start every January 1st.

      Like 1
      • MsTJ
      • YNAB has given me back my future
      • Believer_in_YNAb
      • 8 mths ago
      • 2
      • Reported - view

      Moohouse Yep, the one thing I am very clear on is I don't ever overspend my categories, without covering the overspending before it hits my budget.  

      Wow, sounds like you have your income well in hand, congratulations, that is fantastic. Your savings rate is impressive. 

      Like 2
  • Mine went in the wrong direction in February - from 12 down to 8. I had some extenuating circumstances - my computer became unworkable before I met my goal for a replacement, and while I was able to find a very decent used laptop on Craigslist for a fraction of what I thought I was going to have to pay, I still had to borrow from a bunch of other categories and my AOM took a hit. We also were a little indulgent in dining out, to tell the truth.

    Ah well. Onward! I'm back up to 10 today and doing more meal planning, plus cutting back on alcohol (for budget and health reasons), so hopefully I'll end March in better shape.

    Like 3
    • Alison G. But you made it work! Congrats!

      Like
      • Alison G.
      • Aquamarine_Yearling.6
      • 8 mths ago
      • 2
      • Reported - view

      Woolloomooloo That's true! After a couple of months using YNAB I had enough wiggle room in my budget to be able to pay cash for a new-to-me laptop. I definitely would not have been able to do that prior to starting YNAB so that is a big win. Thanks!

      Like 2
  • Who knew budgeting could be fun?  My husband wonders why I look at ynab so much, lol.  My best aom has been 14 and I felt ecstatic.  I'm shooting for 30, 

    Like 3
      • greenthum
      • good life on a shoe string
      • Pink_Dragon.9
      • 8 mths ago
      • 1
      • Reported - view

      greenthum Looking at challenge this month for sure.  Had knee surgery last week and I will be off work for two weeks.  I worked really hard to get my budget in line ahead of time.  I get std but only 70%.  I don't imagine my aom will increase but I'll be happy if i hold steady.

      Like 1
  • been away from my financial monitoring so inputed everything today for feb. So because I've never done AOM I assumed 30 was the way to go. I'm at 47. So let's try to get to 50.

    Like 2
      • Moohouse
      • Software developer
      • Moohouse
      • 8 mths ago
      • Reported - view

      ISuckatMaths Not to rain on your parade, but if you charge a considerable part of your expenses to credit cards then you should aim for 60 days age of money and not 30.

      To quote the documentation:

      If you never or rarely use credit cards, you鈥檒l want to see the Age of Money stay above 30. Aging your money out to stay above 30 days makes everything so much easier. Your budgeting can be done less frequently, you can set up your bills on autopay (no timing paychecks to bills!), and your stress level will drop.

      If you use credit cards for most of your purchases and you pay them off monthly, and you鈥檙e NOT just budgeting a credit card payment for all the stuff you bought last month (what we call riding the float), you鈥檒l want to keep your Age of Money above 60. This reflects the fact that you鈥檙e letting cash sit longer because you鈥檙e borrowing.

      Like
      • ISuckatMaths
      • Where Budget and Math collide
      • ISuckatMaths
      • 8 mths ago
      • 1
      • Reported - view

      Moohouse haha moo to you! Thanks for the info, I'm definitely learning AOM. I don't pay monthly my cc, more like right away for most purchases. But I'll work towards 60 as a goal and see what happens.

      Like 1
  • AoM at 30 days.

    Like 4
  • So my AOM is 26, getting closer and closer to my goal of 30. I am surprised it is happening so quickly, though I know it is easy to slide back to lower numbers.

    I'm starting to wonder exactly how I should look at AOM though. I am getting closer to 30 but I am not getting closer to a whole month of money to be able to push forward to the next month. I am about a paycheck and a half ahead but I can't yet pay all of April with what I make in March. So even if I hit 30 this month I don't think I will feel that I am off of the 'paycheck to paycheck' cycle.

    My overall amount of $ in my account has risen and I do think I am stretching my money in a positive way. Part of what is going on is that I am paying more towards true expenses, yearly expenses that I pay a tiny bit each month towards, and larger savings goals.

    I'm thinking I may want to push my AOM goal to 45. Maybe then I will feel a bit more 'ahead' month to month.

    Anyone else experiences this?

    Like 1
      • Moohouse
      • Software developer
      • Moohouse
      • 8 mths ago
      • Reported - view

      Peripherie Age of money as a metric is pretty flawed for many reasons. When you may fully budget the month at 1st of the month (or whenever you wish to really) using money you earned previous month(s) then you are (at least) a month ahead.

      If you don't use credit cards and have a fairly stable income/expense monthly, then this could come around the 30 mark. If you use credit cards then you should apparently aim for 60 days AOM to get ahead (or somewhere in between).

      The AOM metric didn't exist when I started using YNAB, but I budgeted my first ever paycheck to the next month from the very start as this is what was outlined as the old rule 4 (new rule 4 is 'age your money' as you may know). I could do this as I started out with some savings. Which was beneficial as I also didn't get any income for the first month and a half since getting employed. I would have asked for an advance if I didn't have savings, but I could easily manage on my own. As I imported the old YNAB data my first starting months now show 24 - 53 - 84 - 114 AOM and then it levels out as it moved away from my starting balances.

      Just located some receipts from May last year which I'll now get reimbursed for. Not a fortune by any means, but every drop helps. 馃憤

      Like
  • Currently at 74 days AOM without using credit cards and paying mortgage and propery costs and such. 
    (There are some tricks to increase the AOM with the same budget, but I'm not going to change my way of budgeting for now)

    Amiming for 100 at the end of the year, let's see if this works.

    Like
      • Astro_Geo
      • astro_geo
      • 8 mths ago
      • Reported - view

      Astro_Geo Edit: goal set to 120 馃槄

      Like
  • Line 66

    Started YNAB Jan 10th. 

    Current AoM is 19. Highest I've seen is 25 so far. 

    Will report on the last day of the month.

    Hoping to make it to that coveted 30 by the end of the year!

    Like
      • Emma Catherine
      • Civil engineer getting back on track
      • emmacatherine
      • 8 mths ago
      • 1
      • Reported - view

      Beautiful symmetry lol

      Like 1
  • 1/6: 88

    2/6: 104

    3/6: 122

    Like 2
  •  

    Since Fresh Start 1/1/2020

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  •  

    end of February.

    Fresh start Jan 1, 2020.

    Like
  • 3/15

    AOM: 102

    DOB: 98

    Like 3
  • Random update! I hit 31 days today, really hitting 30 for the first time. (My original 2020 goal was 30 but I have upped it to 60 now.)

    I don't expect this to last till the next regular update. Having to 'stock up' (not in an insane way) as things start closing in my state as meant more spending and WAMing than I intended for March. I am also not a month in a true sense ahead but hopefully, some of the things I have bought now will even out costs as it takes me a while to need to buy them again.

    I will cherish the win while it lasts!

    Like 7
  • I'm hopping in this challenge because I am finally working on the four rules. I have been an abuser of rule three and loosely followed rule two for a long time. I've realized how much money I've been throwing away so I'm hoping to get at least two months ahead by the end of the year. 

    Like 3
  • I just made a (free) account with the cheapest and most popular online stock trader around here.

    With the world on the way down the covid drain this seems to me like a good time to do some (small but) possibly profitable investments into businesses I'm fairly sure will survive.

    I may compare my coming investments with various indexes, but something tells me I'm unlikely to beat any of them - and I may not beat my other fund either. I don't really care, this is all for fun! 馃槈

    Like
  • just made it through my first full month and am looking forward to seeing my age of money grow

    Like 3
  • Still climbing since Fresh Start on 1/1/2020:

     

    Like 4
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