Never Overdrafted Again AYNAB

AYNAB = After YNAB

Before YNAB, before I knew how to budget, my ex-wife and I had regular overdrafts which resulted in overdrafting fees. Maybe not every month but if I remember right, about 5 or 6 times a year, maybe more.

I can honestly say now since I got serious about YNAB 10 years ago that I have not overdrafted since. Not once. I'd call that a YNAB win.

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  • YNAB is a lifechanger.    I feel so much less money stress now.

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  • Here, (maybe like everywhere) you have to apply for the option to overdraft. I've had the option for a long time and remember convincing my then boyfriend/now husband we should have the option on our shared account. Though not often, I used it as well...

    The change for me came gradually, not exactly with YNAB, but looking back the change of perspective is big! With YNAB we won't ever be near overdraft! 

    Though while writing this I realise the change in interest has something to do with it too... Back then I moved everything possible to a savingsaccount. Now its hard to find one that's flexible and with high(er/ish) interest, so every thing stays in checking. 

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    • Powder Blue Pony This is true, At the moment my checking(current) account actually pays more interest than my "savings" account!

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      • Superbone
      • YNAB convert since 2008
      • Superbone
      • 1 mth ago
      • Reported - view

      Powder Blue Pony My Schwab checking account is attached to a brokerage account with no funds in it. So, if I were to overdraft, there would be a $25 fee. However, I just watch my future balance in my checking account as I can see a month ahead due to future recurring transactions and paychecks. I usually keep about a $2000 buffer in the account to be safe.

      I still keep the majority of my liquid funds in my Ally savings account which is now down to a 0.8% return. Still, it's a little over 26 times better than my 0.03% checking return.

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    • Powder Blue Pony I had an account where you could opt in or out of overdraft. I opted out, but the bank continuously allowed charges that would overdraft the account. They had it on record that I had opted out, my account showed that I was opted out, but the account would still go negative after a purchase (instead of just declining the purchase). They never charged an overdraft fee because of it, but eventually I just closed the account (for other reasons). This was back in high school, so I'm to hope the "option" has improved since then.

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  • This is a Decade's worth of YNAB Wins! 😉

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  • When I first got serious about YNAB at the beginning of last year, my first goal was to get through an entire month with no overdrafts. Not only was I able to do that my very first month, I also didn't have any overdrafts the entire year, and I haven't had any this year either. Such an amazing difference! Congrats and cheers to an entire decade of no overdrafts! That is a MASSIVE win! 👏👏👏

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