
Age of money 2018
And because we want our money to age in 2018 as well:
https://docs.google.com/spreadsheets/d/1DfIxW9iq9MzDWoL2Ds4uLEufaRu7VqllJxdJORqysmk/edit?usp=sharing
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Forgot to check at the end of August.
And here is my end of September.
My big expensive months are behind me for another year, thank goodness. This year I decided to buy a yearly premium gym membership, so it got even more spendy. Now it's just the usual monthly stuff, Christmas, and some charity/donations to the end of the year, so my AoM should continue to inch its way up toward the 200 mark.
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Coral Wizard said:
My goals is to get to 210 before the end of the year.As of today, my AoM is 211 days (DoB is 288). So, I met my goal earlier than expected!
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Just a quick (not end of the month) update to reveal that I have passed my original AOM goal!
I joined this challenge at the end of August and have only been using YNAB since the tail end of May. My initial goal was 45 days and today it is 53. I'm going to keep going and try to get to 65 by the end of the year.
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I got all the way up to 205 in October, but then I bought a pack of gum for $1.35 and watch my AOM plummet by 20 days after I entered that outflow, clearly the transaction that used the last of one month-end paycheque and when I began using the next month's income. I still expect to hit/exceed 200 by the end of 2018.
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AoM 328 for October.
328 days prior to October 31st was December 7th, 2017 - not long after November payday. I won't make predictions, but 365 would be a funny number and might be possible to reach?
If I could see some visualization in YNAB of the various cash buckets they use for AoM calculation that would be interesting if nothing else. 🙂
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I coasted up over 200 (my original 2018 goal) in November and finished with an AOM of 209. 👏 🙂
That suggests to me that the money I'm now spending is money earned in May? hmmm. My low-spend months were January to May, so how this AOM work, the fast moving number up, is beginning to make sense.
My really big expense months this year were June, August, and October -- big spending for me -- while July, September, and November were not as big spending wise, but with a low or negative NET savings rate, so that data suggests to me that my AOM will struggle to stay above 200 as my expenses are now using the funds earned in my biggest outflow months.
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HappyDance: Congrats on reaching your goal a month early!
Age of Money isn't really a complicated concept(?), but it's kinda hard to explain in a few words or paragraphs. As far as I know, how much money you spent in May doesn't affect the size of the 'May' grain silo (or bucket, if you prefer) - only income does affect the silo size. But spending little back then does help your current AoM. If you on average spend less than you earn, then AoM should rise over time. If you spend more than you earn, then AoM should fall over time. If a one-time expense equals three months income, then your AoM would probably fall about 90 days.
My AoM did drop ~230 days when I spent (as far as YNAB is concerned) about 2/3 of my net yearly income in a single transaction. Which makes sense - it would eat through a lot of income silos/buckets at once.
The YNAB documentation is quite extensive and does try to explain the concept. Of course, I may also have misunderstood just how this works. 😉