
What did you do to improve your finances today?
This was one of my favourite threads on the old forum, and since there doesn't seem to be one here yet, I thought I'd create one :-)
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Paid off my student loan. I only had about $2,500 left and I thought, instead of waiting another 15 months to be debt-free, why not be debt-free now? I had plenty of cash to pay it off with. Was only a 2.625% interest rate, but still that's better interest than I'll get from the bank. (Best I can get from my credit union is 2%.) So, for the first time in 17 years I'm totally debt-free! (There's a balance on my credit card, but I pay it off in full each month, so that doesn't count.) And that's $157 I don't have to pay every month. Wasn't getting an interest deduction anymore anyway.
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Was feeling a bit down as November was a spendy month - payments on classes/subscriptions that will take me through the first half of 2019, tickets for holidays that are still a while away, some off the cuff emotional spending - but looking at my YNAB reports has made me feel a bit better. I finally have 6 months of reports to nerd over and can see that although this month has been expensive my average spending in the different categories is not that far from where it should be (in my mind) and what I had budgeted for. Very very grateful for the financial education that YNAB is giving me.
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Today I rang the bank and closed my credit card account.
Thanks to YNAB I've not only paid the credit card off, I'm budgeting for expected expenses AND I also have funds aside for Emergencies. I was motivated to act quickly because my annual fee is coming up and while I briefly considered asking for a discount on the fee decided I really just don't need it anymore.
Nice feeling of closing the account in my YNAB accounts list too!
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I bit the bullet and canceled Amazon Prime. 😱 And I didn't renew my Sirius XM subscription back in September, and I've said "not interested" the last two times they've called with their "special renewal offer" (I actually AM interested and will be re-enrolling after the first of the year, but I'll be holding out for the $60/12 months rate).
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While it is stressing me THE HELL OUT I went through my health insurance documents and checked carefully to make sure that I was happy with my level of cover. This involved logging into their website, combing past bills to project costs of consultations etc, and (the horror) an actual phone call. I probably won't change anything after all that, but I am pleased that I am at least informed about what my money will get me! I have been getting so stressed out by all the advertisements to compare policies etc. that come out at this time of the year but I am at least proud for not adopting my usual hide-until-it's-January-and-you-can-no-longer-change-anything mentality.
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After 25 year of Nursing, I finally got fitted for orthotics. Our health insurance lists $400 coverage so I followed their submission steps to a T and sent it in. Denied. What?! Fortunately, I walk the dog with a podiatrist who told me that insurance companies regularly deny orthotics on the first submission, probably believing that people won't try again. So, I resubmitted and sent a detailed email of what steps I had completed and... $400 in my account yesterday! A couple of years ago I probably didn't pay close enough attention to even know I had been denied. YNAB win.
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I'm doing my yearly PTO cash out at work shortly, which will largely be put toward my student loan (still on goal to finishing that off this year!).
In planning the rest of it, I ordered some wardrobe items I really need while they are on sale to make the funds go farther and leave me more left over for fun and for getting ahead in my budget.
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Just started YNAB a few days ago. This January we are reigning in all spends and going on a saving ‘sprint’. Got grocery shopping down to £56 from usual £80-90 so very pleased with that! Also roasted a chicken tonight, ate chicken breast for dinner with mash, veg and gravy, made a soup for tomorrow, saved the legs for the next day to have with rice AND bagged two portions of cooked chicken for the freezer for last minute fried rice or noodle dishes for when I’m short of time and tempted to buy a takeaway. That is 5 meals for a family of 3- my Nan would be proud! The extra money we save on groceries this month is going toward savings for later expenses.
Also last night I updated all my Amazon subscribe and save orders to make sure we had all the essentials at 15% off delivered when we need them. A particular bargain was Andrex roll at less than £2.50 a pack which is usually £7 in the shops (£4.50 when on offer). So excited to continue this year the way it’s started, get our debts paid and get ready to move next year when we are in a better financial position.
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Today I cancelled a credit card that I haven't used in over 4 months. It was due for renewal next month with an $85 annual fee attached to it - no thank you, I'll be keeping my $85!
I also finally listed my tiny house - the sale of which would greatly improve our finances. It has felt like a dead weight around my neck ever since I moved into my partner's house, but selling something that once represented my independence from all things domestic and mortgage related is kind of bittersweet. Oh well, here's to hoping someone actually wants the darn thing!
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Went on a mini-break this week and only spent $20 over the amount I had budgeted in my holiday category. Tracking the expenses and checking in with my partner (who was covering some things) as I was going along really helped. I'm particularly pleased that I didn't buy little things like souvenirs, books about the place, little food and drink things to take home - I previously would have done that as a way of 'preserving the moment' but actually was able to just be present and know that I didn't need stuff to remind me of that. The money spent over was for convenience - a taxi to the airport instead of getting a train/bus. Well worth it for the extra time it allowed to soak up the holiday relaxation :-)