
Age of Money 2019
Starting up the AoM challenge for the new year!
https://docs.google.com/spreadsheets/d/1_4gVfeRXso4wIgASo7dPOGz5qY0H9tLOvSXQARPclHg/edit?usp=sharing
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July check in.
AoM: Up 14 from 211 in June.
DoB: down 22 from 337 in June.
I'm still recording some really big spending, all planned, and all from saved category balances. I spent $10,000 more in the first seven months of this year than I did in the same time frame in 2018 and 2017, with only two months in the last seven where my net worth actually went up by a modest amount. The biggest outflows have been for a dental implant. That is finally over (successfully) and all the insurance reimbursements received. The August to December stretch are usually my more liberal spending months in any given year, but I suspect that this year those months will look frugal in comparison with the first part of 2019.
I expect my AoM to climb steadily for the next couple of months regardless of spending because I've hit my December/18 buckets of inflows. I received a $10K gift from my father's estate in December as well as my usual income, so it will take a while to spend my way through the December buckets.
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Well, July took a hard hit for us. We were under contract to sell our old house and buy a new one. The buyer for our old house fell through a week before close. After much deliberation we decided to pull all of our available fund to be able to still purchase our new house. AOM was over 150 (which was my initial goal for the year) and now it is at 29 😭. Old house is back on the market and I cannot WAIT to get it sold to build back up all of our funds I had to WAM from.
My new goal is to be back over 100 by the end of the year. At this point, I’m hoping it’ll be sold and done in September which will give us somewhere in the 100 days range until the end of the year. It’s been a challenging couple of weeks sacrificing what we had planned on spending on new purchases, but we will make it!
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Joining up now.
Started YNAB in June this year. Was living pay to pay, and on credit. Since then I've got off the pay-to-pay cycle but my AoM still has a long way to go.\
Would like to get it up to 14 by the end of the year but even that may not be realistic given the amount of debt I'm carrying and trying to pay down.
Anyway, will see how I go :)
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I started YNAB in January. Age of money went from 138 in July to 113 in August.
Turns out spending large chunks of cash on home improvement and multiple car maintenance issues is bad for one's AOM. DOB is currently 150. Now that we've gone through more cash than we started YNAB in January with, it will be interesting to see how it waxes and possibly wanes. Now ugly reality raises its head, so I may need to decrease my target AOM by end of 2019 to 130, maybe less. We'll see!
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My DoB is super inflated due to me borrowing $30,000 on a new line of credit (0% promotional introductory rate with no fees for 90 days) and putting it in my high-interest savings account (at the same bank). My AoM is beginning to climb because I hit my December/18 pots of income, and I received a $10K payment from my dad's estate in that month in addition to my income, so it will take me a few months to use up those pots. I expect my AoM to keep climbing.
JULY
AUGUST
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AoM for August ended with 29 days, however overspent by approx. $600 on the credit card due to paying for an upcoming vacation, unanticipated school expenses etc. So that might not be entirely accurate. Still trying to get a feel for how AoM is calculated. Still feels like we're on the paycheck to paycheck cycle even though we are still putting a mighty chunk away into various saving groups... We'll see how this month turns out!
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AOM in the last week has gone from 138 in July, to 113 in August, back to 138 in September. It undoubtedly going to roller coaster again, we spent a lot on budgeted purchases in the previous credit card cycle that we paid off in September. DOB is 163, up from 150. I suspect it's going to yo yo as we tend to spend more in big boluses (start of school, Christmas, vacations, house projects, etc).
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I just received an invoice notification for something I ordered (and I was sure I paid for) back in July. After some fruitless searching I'm now sure I never paid at all, and I can't even recall getting any invoice. If I had recorded the purchase in YNAB when ordering, I would have notice not receiving any invoice in due time. I didn't, so shame on me! 😥
One notification every few years is OK by me, this is my second* since starting YNAB in 2013.
* Not counting the late fees from my library, as I don't track the due dates in YNAB. I should put them in my calendar, but I tend to forget ... 😄
Just paid my next vacation with credit (as usual), so this may in fact nudge my AOM for December.
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Technicolor Cheetah said:
October's AOM is 155, up from September's 138. I realized it's because May was a 5 Friday month, so 3 paychecks 5 months ago. Days of Buffering was 173, up from 163 in September.November's AOM is 137, down from October's 155. I moved a large amount of money from an off-budget account to an on-budget account, then added that to my kids' college funds. The bolus of money in and out caused my AOM to go from 158 to 139 with one transaction.
Once again, I'm reminded that AOM doesn't mean a lot in terms of financial stability or security. AOM will change quickly if one has large outlays of money, of which I am expecting many next year, so next year's AOM will likely be a roller coaster. All planned and budgeted expenses, all over $4000 each, so each one will be a big hit to the AOM. The number that does mean more is Days of Buffering which is currently at 183 courtesy of a 3 paycheck month. I expect DOB will be a lot smaller in 12 months, again due to planned spending. Our current plans for 2021 are a lot less expensive than 2021's. ; )
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I am still in my trial, but I like the AoM idea. I joined in on the fun and will update next year, as well. It will be fun to see how using YNAB for a year increases the amount of cash we are able to stash. If you would like any assistance adding metrics to the Google sheet, let me know. I would be happy to add formulas to calculate whatever you want to know regarding metrics.