Age of money 2018

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  • I am new this month to YNAB.  How do we join this challenge?

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  • This should be in the new Challenges category. 馃憤

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      • Mawkitas
      • mawkitas
      • 10 mths ago
      • 1
      • Reported - view

      amp97 I agree! Could the OP ask for it to be moved?

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      • waterkip
      • waterkip
      • 10 mths ago
      • 1
      • Reported - view

      Cadet Blue Snow Elena at YNAB could you move this to the challenges bit? TIA

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    • waterkip said:
      Cadet Blue Snow Elena at YNAB could you move this to the challenges bit? TIA

       Faness at YNAB Dan at YNAB Jen Janelle at YNAB Could any of you help? :)

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    • Resistant Punch Roller You've got it! 

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    • Dan at YNAB Hooray, thanks Dan! :)

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  • My age of money dropped like a stone from it's highest point on December 31, down 16 in the first two days of January. I spend about 40 percent of my average monthly expenditures on the first of each month, so I guess that is to be expected. I still don't understand how it works, but I can't help but be intrigued by the movement.

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    • Michele Yeah AOM has always confused me.  I tend to prefer the YNAB Toolkits days of buffering calculation.

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      • HappyDance
      • YNABing consistently since 2014
      • HappyDance
      • 10 mths ago
      • 3
      • Reported - view

      VoltaicShock 

      I'm getting a better sense of it.  If I take the total in on-budget balance and divide that by the amount of my monthly pay, that tells me that the oldest money I might be spending is 5 months old, or my August paycheque. And...my age of money if I count it backwards on a calendar gets met to my August month-end paycheque.  Oh!  Okay! That's why my number unexpectedly dropped by 30 at the beginning of this month. That's when I spent the last of my July paycheque, and I dropped by 30 because I'm paid once a month.  It has since climbed by one every day regardless of how much I spend, and that too shows me I'm still slowly gnawing on my August paycheque.

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    • Michele 

      I just started again so I have to wait a couple of days.  Any idea how long it takes for them to give you an AOM?  It says 10 transactions but I have more than that already.

      I really wish I was paid once a month.  That would make it easier for me to budget.  Just makes more sense to me that way.

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      • HappyDance
      • YNABing consistently since 2014
      • HappyDance
      • 10 mths ago
      • 1
      • Reported - view

      VoltaicShock 

      I think it's 10 cash-based transactions, excluding credit cards. But I really don't know.  I transitioned 3+ years of data from YNAB4, so I hit the ground running on AOM.

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    • Michele 

      Yeah see I use my cards and pay them off every month.  I think cards mess with the AOM.  Though I am not sure about that.

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  • Awesome!  I had joined the last one and was wondering if we would be doing it again.

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  • January check-in. 

     

    AOM rollercoaster:  I finished 2017 with an AOM of 150 on December 31st. It then nose-dived quite dramatically to 120 on January 3rd, down 30 points after spending less than $80 in three transactions. It then slowly climbed back up to 150 by the end of January.  I鈥檓 paid once a month, so I was able to pinpoint those exact transactions that finished off the last of my July paycheque and when I began using my August paycheque. My AOM should continue to tick up through February as I don鈥檛 expect to exhaust my August paycheque until March.

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    • Michele Fascinating, so cool to hear it from that perspective! :)

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      • HappyDance
      • YNABing consistently since 2014
      • HappyDance
      • 9 mths ago
      • Reported - view

      Resistant Punch Roller 

      I fully expect the ups and downs I will see in my AOM number will resemble the side view of ribbon candy this year because I have some big outflows scheduled and because of the 30-day intervals between my income deposits. Since I only enter the AOM at month end it may look pretty stable with no-growth months here and there.  But it will really be a dramatic up-and-down on my budget screen.

       

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  • My AOM has gone down but that's completely understandable as we have paid for home improvement, 4 new tyres, and booked a holiday! All budgeted for thankfully!  I've got 68 days of buffering so it's ok still!

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  • This is a fun idea, thanks for sharing this!

    I did a Fresh Start for Jan 1st, and since then have seen my Age of Money creep up to 14 days (the length of my pay cycle)! This is particularly astonishing since I've never had it be double digits at all since starting nYNAB in Feb 2016. Hooray for new habits already paying off!!

    I hope to be following the "old rule 4" (budgeting this month with all last month's income) after my "extra" paycheck in June this year, and am eager to see how my Age of Money increases as I move closer to that and start *actually* budgeting for true expenses / rainy day funds as well :)

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  • You all amaze me with your AOM stats. The most I have gotten to is 14 days which is my pay cycle. I am aiming to achieve 30 days. You all give me inspiration but it does seem challenging I must say. I鈥檓 learning a lot from these forums and picking up tips and tricks that I hope will help me achieve my goals. 

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  • My AOM went down from 22 days to 18 days. Which is sad but due to us probably having use the Emergency Fund. Really hoping to get this to at least 30 days by March.

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  • My AOM dropped 18 days from the end of December to the end of January, 27 days since the end of November. Still, I finished January at 272.

    And I don't care, because I'm using my budget as intended. I made a large DAF contribution at the end of the year to take advantage of my last year of itemizing on taxes, Our IRA contributions for 2018 went in during January. I bought plane tickets for 4 to fly home for my grandmother's 90th b-day. We bought a new refrigerator and dishwasher. We sent money off-budget to brokerage accounts.

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      • HappyDance
      • YNABing consistently since 2014
      • HappyDance
      • 9 mths ago
      • 2
      • Reported - view

      I have a few lump-sum expenses and investments scheduled this year and expect my AOM, like yours, will drop as a result. This won't be an issue for me either because of the build up of funds in true expenses and emergency funds. I'm starting to see the AOM as a measure of my planning skills rather than of my money, if that makes sense.

      Reply Like 2
  • Added my January to the sheet.  Joined YNAB mid October, 2017.  Ended 2017 with an Age of 16 Days.

    My January saw the Age climb as high as 28 Days, before plummeting back down to 16.  It bumped up to 17 Days before the end of the month.

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  • I have added myself to the chart, setting a not too ambitious goal, I hope.

     

    AoM is a metric I don't really understand or trust, but I enjoy seeing it rise over time.

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  • I have just joined the challenge.  I hope my details remain in the spread sheet correctly.  Can someone tell me, in case they don't, how I save the spread sheet back to the "cloud" or wherever it lives so my details are recorded.  My AOM isn't looking great when I update my details for December and January, however, I hit my highest AOM this week of 15 days so I am setting a stretch goal of 60 days AOM by the end of the year.  I appreciate that it can change dramatically based on number of purchases etc but would still like to achieve 60 days at some point in the year so I can show myself it can be done.

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    • Opportunity Knocks It's within Google Sheets, so it should auto-save as you go!

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  • Hi! How can I join the challenge?

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      • HappyDance
      • YNABing consistently since 2014
      • HappyDance
      • 8 mths ago
      • 1
      • Reported - view

      Alice Blue Packet 

      Just go to the spreadsheet linked in the lead post by waterkip . Enter your details, and you'll have joined the tribe.

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      • DesantisB
      • Alice_Blue_Packet
      • 8 mths ago
      • 1
      • Reported - view

      HappyDance Done! Thanks!

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  • I was doing really well with my AOM seeing it increase daily until I went and looked today and it has dropped to just 3 days.  I got paid yesterday so figure that is why as I haven't had any major purchases come out over the last couple of days.  I reached an all time high for me this week of 16 days.  I know it isn't much compared to a lot of you but I felt incredible pride that I had gotten past 15 days which I hadn't been able to top previously.  I'm going to stay focused and work to achieving my goal I have set within this challenge. 

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    • Opportunity Knocks I鈥檓 seeing similar.  I was up to 23 Days last week, but it is starting to head downwards again.  I鈥檝e noticed this as a trend that happens toward the end of the month.  Not sure if it鈥檚 because I have some larger bills that come due or what, but even a single soda purchase will send me down a day in this time-frame. 

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  • Hi, just joined your challenge! Thanks for giving the opportunity.

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  • Ugh! I had to do a fresh start after making a mess with my credit card and not being able to fix it. So frustrated!

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  • I just joined the challenge.

    I transitioned to nYNAB with a fresh start on January 16, 2018. Based on my account balances and my average spending habits, my "Age of Money" will grow to around 180 before settling down. My goals is to get to 210 before the end of the year.

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  • OK, I have gone from a crazy 3 day AOM stat to a 71 day AOM stat.  There is good reason for this which is I have been catching up on all of Jesse's podcasts and throughout the years he has raised the idea of having all of your funds in one account and not split between tracking etc.  I had two significant funds sitting within my tracking account which I moved last week to my budget.  They are my 6 month emergency fund which currently aren't at the highest level I need them to be to cover me for 6 months if I am out of work, however, it is a start and I am covered for a couple of months if nothing else. 

    As my AOM skyrocketed through the roof when I put these funds into my budget I am now going to adjust my goal to having my AOM be 100 days by the end of the year with a stretch goal of it being 120 days.  I would love to get to 120 days and am remaining focussed on achieving this by setting a mini goal each month to assist in achieving this.

    My mini goal for March is to have a full plan in place with clear goals and timelines against these for the establishment of my side hustle that I am working on.  Having a side hustle will be the only way I can meet all of the categories I have within my budget and also achieve some of the life goals I want for myself and my family such as holidays.  At the moment I can't fund holidays or anything like that without taking from a true expense category. 

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  • This month I realized I was letting "Age of Money" influence some of my payment timing choices in a way that wasn't really financially ideal.

    In my previous journey with YNAB (using YNAB Pro & YNAB 3, before the "Age of Money" metric existed), I had a full month "buffer" in place, so that I was able to budget out each month fully at the beginning of the month, using the previous month's income. This meant that I could pay out bills and things as soon as they came in throughout the month, rather than needing to time them to paychecks, etc.

    This time around, I've been cutting it so close that I've really been living paycheck to paycheck, and have only in the past few weeks started to make progress toward building a buffer back up. As I've been going through the month, and gradually being able to stretch each paycheck a few days past my next payday, I've realized an unexpected habit I'd started building this time around: *waiting* to pay bills, until the last possible moment, even when I already had the money budgeted - in order to let my Age of Money grow.

    This habit feels like it runs counter to my other YNAB goals, and maybe is an unintended side effect of this new "Age of Money" feature?

    At any rate, I realized I didn't like letting "Age of Money" influence me in this way, so I made some conscious choices this month to move some of my recurring payments earlier than I had been, lessening the time I'm letting money sit around waiting when it's already earmarked for a specific payment.

    As such, I was fully expecting my Age of Money to drop this month, but am surprised that it actually did go up, one single day, from 14 Days to 15 Days! I suspect the increase would have been more dramatic otherwise, but feel much happier with the payment timing shifts I've made, so am very happy to sacrifice the potential extra Age of Money gain.

    So, for the remainder of this challenge - I would like to continue to see my Age of Money grow, as I'm sure it will, as my True Expense funds slowly build up, but I'm going to intentionally avoid doing anything additional to *TRY* to increase my Age of Money beyond that, and may in fact make choices that will negatively impact Age of Money, but positively impact my overall financial picture, regardless.

    What a complex and not-straightforward metric this is, for sure! :)

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      • HappyDance
      • YNABing consistently since 2014
      • HappyDance
      • 8 mths ago
      • 1
      • Reported - view

      Resistant Punch Roller 

      Interesting observation.  I had a very low spend month in February.  I have about three or four months every year where I just don't have that many expenses, and February is typically one of them.  I found myself contemplating making a series of teeny purchases to see if I could game the AoM number. Luckily, I recognized that thought as counter-productive and didn't do it.  As a result of not spending much, however, my AoM did not go up by much.

      Reply Like 1
  • February Check-in

    I'm checking in with an AoM of 154 at the end of February, 2018.

     I had expected it would be much higher given the balance in my chequing account and the fact that I had a very low-spend month.  Clearly, there is something in the metric I haven't yet grasped. I'll be watching it with interest in March.

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  • I could probably try to game the system to increase my AoM further, but I don't.  AoM for February ended up at 250 days, which would point at June last year. June is a good month pay wise, so this bucket/grain silo might last a good way through March as well.

    I earn way more by keeping some funds invested or in savings accounts instead of pooling everything in one account, so I'll keep things separate for as long as I'm able to keep track - and the profits make it worthwhile.

    HappyDance : As I understand AoM, your higher account balance today won't affect AoM until you start spending this fresh income. Which for you means in about 154 days. A higher account balance more than 154 days ago should have increased your AoM today. A low spend month should at some point in the future make your AoM rise.

    https://www.youneedabudget.com/guides/age-your-money/

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  • Just done a fresh start as things (YNAB) had been rather neglected for 4 months. Getting back on track now. Goal is 60 days, app is currently not showing any age of money. Rather a lean time of year for me as my work is seasonal so i don't expect much progress until later in the year...

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  • Mine dropped 3 days this month 馃槬

    I need to get back on track which I am doing and paying down some debts (school loans)

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  • I would like to join this challenge, how does that work? Thanks!

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      • HappyDance
      • YNABing consistently since 2014
      • HappyDance
      • 7 mths ago
      • 1
      • Reported - view

      Brandon Thomas 

      Welcome. The more the merrier.  Click on the link provided by waterkip  in the original post, claim a line in the spread sheet, enter your starting age of money and your target age of money, then play along with a monthly check in.

      Reply Like 1
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