Savings is finally going in the right direction

So I have tried YNAB before but for some reason I couldn't make it work. I think it was being accountable and seeing the numbers is what it probably was. Lol. It is amazing when you see the numbers in front of you. Very eye opening. I could never figure out why I saved every month but yet I felt I was running in place never increasing it. Everytime savings came in it went back out because of my overspending. I love how simple YNAB is to use on the go. This is the first time that since I have started back about 45 days ago that my age of money is 29 days and I have increased my savings at least $1500-$2000. I have also started reading a book by Seth Rammit - "I will teach you to be rich" - and I put all my bills on autopilot to pay on my credit card to get reward points and pay my bill every week. This is also a win for me too because I now pay my bill off in full each month. I love that with YNAB when I spend on my credit card, it tells me that I need to adjust my budget somewhere to make that payment. I'm so excited for the future and finally feel in control of my finances.

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  • Love it. ALL. OF. IT. As many of your fellow YNAB-ers can probably attest to. Sometimes, it just takes some time to click, but once that shift in mindset happens, there's no turning back! You're on your way! Keep it up. 

  • I had the same cycle going pre-YNAB.  I would make sure there was enough in the checking account to cover my short-term expenses, then stick everything else in savings. Then I would pull money out of savings to pay the credit card bill when it came due.  It was a constant back and forth, and savings never seemed to get significantly higher.   Now I'm really budgeting all my spending - cash, credit card, whatever, including the amount I plan to put away in savings.  I don't even track my savings balance in YNAB - I have a category for savings that I fund each month, then "spend" by transferring it to my savings account. 

    • Hot Pink Mill (f9e491b4de82)  Can you explain a little more about how you do your savings? I hate that on the reports it doesn't show how much you saved that month. It only shows when you spend money. 

    • Spring Green Projector (52a501cc58e7) 

      I have a category that I call "savings" and I budget a certain amount to that category each month.  In my bank account I have an automatic payment from my checking account to my savings that goes through every 2 weeks to transfer my budgeted "savings" to my savings account.  When that transaction happens, I show it as an outflow in YNAB, "spending" my savings by moving it from checking to my actual savings account.  My savings account is not linked to YNAB, so there is no way for me to see my savings balance from my YNAB account, but I can see how much I have "spent" on savings, or the total that I have managed to pull from my checking account into my savings account over the report period.  It means that my net worth report from YNAB is not really accurate, because it doesn't include my savings, but I'm ok with that - out of sight, out of mind.

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  • Oh, ok. Thanks for explaining. Yes, I wish that they had the function in YNAB that tracks savings as I think it is important. I want to know how much I am saving each month. You are right about out of sight, out of mind. I may have to try this.

  • The excitement once you "get it" regarding YNAB is so great! It's ridiculous how much I enjoy managing my money. 

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