Thank you YNAB!
A mere year ago I was $45k in credit card debt and no buffer. My wife had to shuffle through credit cards to find one that she could put my daughter's high school cheerleader uniforms/school activities on.
Thanks to YNAB in these uncertain times I have $13k set aside for buffer, $10k for COVID-19, $11.5k for college incidental expenses, $8k for a vacation (when we can take one), $5k for Christmas (goal setup), 1.4k for home improvement (goal setup), and $5.5k for taxes (now extended). Credit Card Zero.
In times like these YNAB is more important than any. Thank god I started when I did.
Hi Ben ben_on_the_road — You're so right, a budget is even more important right now. I'm thrilled to hear that it's bringing peace of mind, and you're feeling prepared to tackle what life is throwing at us in these uncertain times.
You've made amazing progress! Do you have any words of wisdom for YNABers starting today?
Sure, the old adage "Pay yourself first" really applies. I set up budgets in separate accounts for my wife and daughter to stick to so they would not overspend. Also, the buffer is sacred. Do whatever it takes to not touch it. I didn't get paid for 45 days and it was critical that I had that to fall back on. With some dedication I am now at 80,279.02 in the + category with all bills budgeted out for the month of May. Once your on the + side of things and not paying credit cards things ramp up quickly. Good luck.