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
-
Fresh Start on January 1, and set up my credit cards as credit cards, so my AoM is not quite what I expected:
and checking out the way cool new Tool Kit feature that interprets AoM and DoB into dates. Check out the features under the budget tab: "date of money" and "days of buffering metric - date"
I have not a clue why the AoM date thinks I'm spending money that inflowed on Jan.7 because it literally all inflowed on Jan.1. And.....when I added a couple of test cash transactions the date got closer to Jan.1, so it's one weird metric.
-
HappyDance said:
I have not a clue why the AoM date thinks I'm spending money that inflowed on Jan.7 because it literally all inflowed on Jan.1. And.....when I added a couple of test cash transactions the date got closer to Jan.1, so it's one weird metric.
Well, it's an average, but it shouldn't move backwards. 馃槃
My AOM shows 08 jan 2019 which is in the middle of two tiny January inflows.
-
Moohouse
That's what I thought, but I can make it move backwards. Not a biggie. I'm sure that once I get to the scheduled cash transactions at the beginning of February, the AoM will jump.
-
HappyDance But wait, the date moves backwards if AOM rises, of course. My brain just doesn't work right now. Too many numbers at work! 馃槀
-
-
Last day of the month check in:
-
First check in ~
I discovered toolkit very recently and I'm so fascinated with all the features *_*
-
Age of money and days buffering for the January End of the Month Check-In. We're down a couple of days from December, but that's okay.
-
@Ruth Elizabeth
Age of money and days buffering for the February End of Month Check-In. The next month is going to be hectic on the finances (we're closing on a house on the 13th of March). I'm considering a fresh start on the budget because many changes are coming up, including the possibility of another child joining the household. If that happens, this whole challenge may look very different!
-
Ruth Elizabeth
March Age of Money and Days of Buffering:
-
Ruth Elizabeth
April Age of Money and Days of Buffering:
-
-
Looking good. Had some exceptionally large apartment maintenance costs this month, which were funded. Since fresh start in the middle of December, AoM is going up and DoB is going down, just as I would expect. They should settle some where in between these two numbers, much later this year, maybe July or August.
-
I am 2 days late, but I'm up 9 days to 297.
-
January result: 20. Highest ever!
School fees due in Feb.... might be going backward to go forward....
-
Updated today: on the 31st of January, our age of money was 7 days. With a house construction underway, I think we are going to have a hard time reaching the 30 day goal this year. But we do not despair!
-
So my AOM is still big ???. Which is weird because I've had 10 transactions.
-
Hi ISuckatMaths !
How many of your transactions took place in a cash account? Age of Money excludes credit card spending, so if you make a lot of purchases on your credit cards it will take longer for your AOM to calculate.
-
Faness With PIF credit card activity, why should it ignore credit cards? The money is spent, waiting for the end of the billing period to automatically go to the CC company. To me, it is just like cash.
-
casner Yes, cc spending is still spending. The difference is when you spend cash, it leaves your budget that day. With cc spending, it doesn't leave your budget until you actually pay the bill. Even though the money sits in the cc payment category it doesn't change AoM until it actually leaves the budget.
-
Faness Hi, I had well over 20 transactions. Is there specific types of transactions that only count? Because I've had several. Transfers to my other cash accounts and cc, incoming and outgoing as well. And just paid off my cc payments yesterday (I don't know if that counts as one transaction).
-
casner hi, what does PIF mean?
-
ISuckatMaths It has to be 10 outflows that take place in a cash account and aren't transfers between on-budget cash accounts. With those new credit card payments entered, does that bring you up to ten?
PIF is short for Paid in Full, meaning a credit card that's paid off in full each month.
-
Faness yah I think w. it just being outgoing to cc or expenses I'm still under 10. Guess, I'll wait a bit longer :) And after I added some more transactions just now, I got a number woot!
Thanks for explaining.
-
ISuckatMaths PIF is Paid In Full every month. There are different definitions here: some say pay the last statement; some say pay to zero every month.
-
-
Age of Money has dropped from 42 days to 26 days because I moved money out of checking and into savings. Not a problem. I'll keep working on my 60 day goal for 2020.
-
internettie is your savings off budget? Because AOM shouldn't be affected if you move money around
-
xgirlmama my savings is on budget so I must be wrong about that. It's in a separate account but on budget. Unfortunately I'm dealing with a lot of medical issues right now and haven't been thinking clearly about anything. I appreciate you telling me that AOM should not be affected by just moving money around. I'll look into once I'm a little bit more clear minded. I'm happy being at 26 days considering what financial life used to be like for me. 42 was definitely better though. LOL
-
-
So because I had nothing for jan and don't want to update end of feb, I'll change my notification start of month. I just got my age of money, woot!, Its 21 days, can't wait to find out days of buffer! And since ideally we want 30 days for AOM, that's what I'll aim for.
-
Well here is to trying again this year to hit my goal. Maybe this is the year 馃槵
-
1/6: AOM 88
2/6: AOM 104
woo!
-
Just started YNAB (again) after about a year off. My goal is to pay down a significant chunk of debt this year, so that's more of my focus than significantly aging my money. But I'd like to try and, slowly but surely, do both. My current AoM is 1 day, and my goal is to age my money up to 30 days by the end of the year. Just a little safety net.
I've claimed line 53.
-
2/15: AOM 93, DOB 88
-
My AOM just dropped from 14 days to 6 days after paying off $3600 of credit card debt. 馃檮
-
To quickly find your line in the spreadsheet, use ctrl+F (or command+F on a Mac) it will open a search bar and you can type in your name.
-
I've claimed a line. I did a fresh start which brought my age of money down. So I am aiming to get beyond the number I had at the end of last year. I'v never been very convinced about the AOM metric, so I'm curious to see how I find it as I track the number.
-
I just started ynab last month and checked this forum/thread today. AoM is 24 days now. Excited about months ahead to see what will happen
-
I've claimed line 57. Started since november 2019, and quite frankly infatuated with it.
We already kept all our spending and funding in a spreadsheet, so that makes budgetting easier for us.
Hope to get to 365. Probably too ambitious. 馃槀
Funny how many belgians are on here.
-
Aged from 4 days to 12 this month. I had gotten as high as 21 days for a brief moment. I get quarterly bonuses at work which I plan to use to buff up my true expenses in the future, which is the rule I struggle the most with. I really do already feel like I have to much more control, can't wait to see what the next months bring.
-
Sea Green Elk That happened to me last month. I got up to 19 and then.... it dropped back pretty hard. I have reached 20 today but I don't update the google sheet till the first of the month. We will see if stays there or drops again.
-
-
I'm part of the debt smackdown and wanted to join this to get a little more accountability for myself to stick to YNAB. I went from 4 days last month to 26. I got paid today and was expecting it to drop like a brick, but it hasn't yet, surprisingly enough for me. I do anticipate it going up over time when tax return comes in.
-
Finishing February up 2 days from Jan. 16 Days. 馃檪
-
I just joined this after my first full month (of retuning) with YNAB. 54 days.
-
End of February Update!
Thanks to my refund coming in and try to stick to 'Fast Food Free February' I have been able to push AOM from 15/16 to 21! I was able to take fully fund March all of my must pay categories for March as well. My second March paycheck will go towards True Expenses and then what's left will be saved towards April. I hope to 'raid my pantry' a great deal in March and keep the 'no eating out' goal going to help keep pushing up my AOM.
I also have four possible income streams (small but extra!) that will start between now and the summer so that will hopefully help as well!
-
Peripherie So I forgot that I set my spreadsheet data for 'beginning of the month'. Which is a good thing because when I checked my budget this morning I had jumped to 23 days! It isn't much but every day counts!
-
