2021 Age Of Money Challenge

Who's glad 2020 is over? I know I am, and to start off the new year great I've continued a long tradition of the AoM challenge! 

RULES----

  1. Choose a day every month that you will post your AOM to the google spreadsheet (link below). 
  2. 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.)
  3. Post your AOM.
  4. Comment below that you have updated the spreadsheet.
  5. 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.
  6. Try to keep the thread on topic.

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 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.

Question about the spreadsheet, or you find errors in the formula's, just let me know in the thread below.

https://docs.google.com/spreadsheets/d/1D-RYH1lXkMPFqWU5EFB1iJdUrd4SrdHjngB1YH0Ic9U/edit?usp=sharing

 

If you've stumbled upon this post and wondering what AoM is, I encourage you to visit this helpful article: https://docs.youneedabudget.com/article/199-aging-your-money. :)

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  • In addition to have the Average AOM, it was suggested to add the Median AOM as well. That has been added to the totals row in the Master Tab, and on the Metrics Tab within the data and the graph.

    Like 3
    • Brandon Thomas  Great to see that!

       

      I notice that median and average also are going down a bit , I guess because of people (like me! sorry!) coming in after the beginning of the year.  But hopefully that will get better as the year progresses.

      I'm curious to see what the graph will look like in six months or so...

      Like 1
  • Tomorrow is already the last day of March?! 😲 My AOM is gradually going back up after paying some big ticket items in February. Can't wait to update the sheet tomorrow! 

    Like 2
  • Line 14

    Dec 2020: 48

    Goal: 60

    Jan 2021: 36

    Feb 2021: 57

    Mar 2021: 37

    Paid off the last of my consumer debt, so I was expecting this hit to AoM. Onward and upward for the rest of the year.

    Like 1
  • Alright, I've joined! Line 39. Started YNAB at the very end of 2020 but didn't have an AOM until January. I started with a fair bit of buffer in my bank account so as of March EOM, I'm at 49 days.

    I'm not sure what a proper goal should be but am saying 60 for now, as an average. I'm paying off consumer debt right now and my debt paydown plan includes a lump sum payment at end of year so I can still have an emergency fund built up while cash flow is tight. I anticipate my AOM continuing to increase past 60 and then dropping a lot when I make that final payment. Also, life can and will happen in the meantime.

    Like 1
    • January AOM: 22
      February AOM: 37
      March AOM: 49
      April AOM: 53

      I've decided to start increasing my debt payments each month, and my covid mortgage forbearance is ending, so that AOM will probably dip next month, but as long as I stay above 30 days I'll feel pretty confident in my paydown plan :)

      Like
    • Huh. I paid most of my monthly bills today, including my new increased debt payoffs, and my AOM went up to 60. I guess I was more prepared than I thought to take on those payments :) We'll see where it lands by May 31st but 75% of my spending usually happens between the 1st and 5th of each month, so AOM tends not to change very much after that.

      Like
      • Annieland
      • I was told there would be no math.
      • Annieland
      • 1 mth ago
      • 1
      • Reported - view

      mandiferous Yep, that's how it works.  It can only calculate after you have cash transactions.  Whether you choose the beginning of the month or the end of the month to track doesn't really matter in the long run.  As you can see you're going up so you should still be up at the end of this month too.  Good job!

      Like 1
    • January AOM: 22
      February AOM: 37
      March AOM: 49
      April AOM: 53
      May AOM: 44

      Age of money took a bit of a hit this month, as expected with the mortgage payments restarting. Plus... I took part of my tax refund to halfway max out my first IRA account. That felt really, really good. 

      Like 1
    • mandiferous Awesome! Yeah, it's a pity it doesn't show in the AoM calculation, but you know that in real life your financial future just got a little bit better again.

      Like
  • I have now moved most of my savings to investments, so AOM will keep plummeting. I couldn't care less as I know why it happens. I won't even try to approximate what it will end up at, but safely above 30.

    Goal: 280

    February: 250

    March: 204

    Like 3
  • #35

    Beginning Month 3.  Goal = 60

    March: 21

    April: 53!!

    I guess I'm doing better than I thought.

    Like 1
  • Feb: 28

    March: 34

    Goal: 120

    Heading in the right direction!

    Like 1
  • Claiming line 41! Dec 2020 age of money was 104

    January AOM: 118

    February AOM: 103

    March AOM: 29 (bought a car woo!)

    Goal is 75 days

    Like 1
  • Line 14

    Dec 2020: 48

    Goal: 60

    Jan 2021: 36

    Feb 2021: 57

    Mar 2021: 37

    Apr 2021: 52

    Almost there, although I'm going to take a hit when I go on vacation this summer. That's okay - this'll be the first time in my life that I've saved up for a vacation, rather than put it on a credit card and slowly, painfully pay for it later.

    Like 2
  • My age of money has gone down a lot this month. My paycheck was quite small this month, so I had to eat into my savings. I am expecting the more normal paychecks for me again starting next month, so hopefully I'll recover quickly from this and will see higher AoM in the next couple of months.

    Also, before YNAB I used to have lots of extra costs at the beginning of the year (city taxes, insurance, income taxes, retirement investments which I can put in on January 1 if I want) and lower at the end of the year. So by July I would see less large chunks of each paycheck being taken up by some tax bill or so and I would be happy and also would invest more in the second half of the year.

    With YNAB now I'm seeing those big bills in the first half of the year as true expenses. And rightfully so, I think. The difficulty now is that this year I'm both paying the full amount during March - June and I'm also putting away the money for next year's bills. I'm sure it will be very nice next January to May to just have this money sitting there for all these bills, but right now it means that I have to set aside my income for these true expenses and can invest less. Which feels like a bit of a bummer. (It will mean that I can invest more in January to June 2022, of course...).

    Like 2
      • Annieland
      • I was told there would be no math.
      • Annieland
      • 1 mth ago
      • Reported - view

      Fabiooltje What you're doing is 100% the correct approach.  Just realize saving for the true expenses won't affect your age of money.  I'm only saying this because you're a new user, so I don't want you to be discouraged.  I save all year for massive property taxes, and have the money ready, but age of money can plummet 30 days in the month afterwards.  It's just the nature of the beast.  But you're doing great and your goals are definitely within reach!

      Like
  • Went backward in March with a big purchase.

    Like
  • Took line 44, I do this every year so why not :).  Last year I started at 180 and my goal was 150 because I was positive it would drop and I was hoping to control the bleed, but to my surprise I ended at 214.  Many months were in the 230's until end of the year taxes and expenses hit.  So this time I'll shoot for 250, but I'm doubtful at the rate spending is going this year, but who knows.  I spent many years barely ever cracking 30 so this is progress.  I'm still averaging 214, but April was a higher income month so I'll try to make it last :).

    Like 1
  • Three months in now.  I've gone from 21 in February to 85 today.  I will have some larger expenditures coming up, so I expect this to go down. But I feel like I have much more control over my day to day spending. YNAB rules!

    Like 2
  • Update from me: I'm having to drop out of the challenge... because I'm buying a house! My AOM has always been very high because I've been spending very little due to saving for my first house and the time has finally come! Within the next few months, I'll be almost entirely draining my budget (in a good way) so my AOM will plummet hence me leaving the challenge.

     

    Good luck to everyone on your journey!

    Like 1
    • Slate Blue Falcon Congrats on buying the house, and good luck with it!

      Like 1
  • Thanks to my tax refund I recovered my AoM in a month from 7 to 33 days. (Here in the NL, it's much harder to get the tax refund just right, in particular when you've also got a small business like me).

    I've also gotten a small job-on-the-side for a couple of months, so I expect that that will also help my AoM rise.

    Then again, I've chosen to only track my investment account, so when I choose to invest more, I believe the AoM will go down. We'll see.

    Like 1
  • Line 14

    Dec 2020: 48

    Goal: 60

    Jan 2021: 36

    Feb 2021: 57

    Mar 2021: 37

    Apr 2021: 52

    May 2021: 69

    Bill and Ted would be proud.

     

    Like 3
  • I lowered my goal to 180 from 280 as AOM now appears to level about 120. I moved a large sum off-budget, so it stands to reason. I'll recall them when it's time to spend and watch AOM plunge yet again. 😄

    Goal 180

    Feb 250 (+ 28)

    Mar 206 (- 44)

    Apr 126 (- 80)

    May 123 (- 3)

    Like 1
  • I set a goal of 62 days, back in January. It seemed like a pipe dream. My "real" goal was to get a month ahead. But with a lot of luck, tax refund and stimulus checks, and rigorous use of YNAB, I just hit 62 days! And the year is just half over!

    I got hit with a huge unexpected expense -- my city has ordered me to paint my house this summer. But I know I can make all of this work, even if I'm not exactly sure how. And I'll be able to get the AOM up again. 

    Like
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