2-Year YNAB-versary

Hello, 

It's my 2-year YNAB-versary.

While budgeting has become routine, the benefits of YNAB are still astounding to me.

In two years:

My (small) net worth has doubled. ($90k to $180k)

My non-mortgage debt has gone down by $28,000. $6,000 left!

For the first time in my life, my August, 2020 bills are completely funded before July ends. I was paycheck to paycheck when starting YNAB.

Christmas. I've gone from putting Christmas on my credit card and wondering how to pay it back, to using an extra paycheck in Nov to fund it, to just putting a monthly amount into my "Gift" category and having Christmas funded *all the time*.  That's unreal to me.

I make money from credit card companies every month.

YNAB enables me easily manage multiple bank, brokerage, and other accounts with funds in varying investments depending on their time horizon and tax status.  All on manual entry.

The more I progress financially, the more beneficial YNAB is.

Thanks for listening and thank you YNAB!

 

Dan

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  • Congrats and welcome to the magic of YNAB! And I can tell you from experience, it just gets better and better. Once you're out of debt, then it's time to grow that savings.

    Like 3
  • Yes! Great work thus far!馃憦馃憦

    Like 2
    • Melissa
    • Routinely questioning every assumption I have about my budget, my spending, and my savings habits.
    • todays_mel
    • 6 days ago
    • 3
    • Reported - view

    Congrats on all of your milestones, and thank you for sharing your wins! Those are awesome and inspiring. 馃帀馃憦

    My one year anniversary is towards the end of next month (August 24, 2020)! 

    Like 3
      • Danny C
      • RN
      • Sea_Green_Wizard
      • 6 days ago
      • 1
      • Reported - view

      Melissa Thank you!

      Like 1
  • Great work!  I've been budgeting for about a year now, using YNAB since last August (Every Dollar before that), so I guess it's close to my 1 year anniversary, although I'm not sure what date I started exactly.   It's also been transformational for me and there's no way I'm going back to my pre-budgeting life!  Hopefully in another year I'll be in even better shape, like you.

    Have you been on the same budget the whole time or did you ever do a fresh start?  I'm pretty sure I'm going to do a fresh start in August, to do some restructuring, but I was wondering if I'd regret this in a year.  

    Like 1
      • Danny C
      • RN
      • Sea_Green_Wizard
      • 6 days ago
      • Reported - view

      PhysicsGal I'm still on my original budget.  It has been tweaked a *lot* over two years but I haven't done a fresh start.

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      • TechieM2
      • IT Professional and General Geek
      • techiem2
      • 5 days ago
      • 1
      • Reported - view

      Danny C Same, I've made many tweaks, but no fresh starts.

      Like 1
    • PhysicsGal I like the history I have without fresh starting, but I have restructured a few times. 

      If you like your categories/groups, but you priorities have changed, you can set all available amounts to zero and reorganize your money. Just remember to type (+) in the budget cell so you don't over-write the calculations housed there. Alternatively, set the available to zero in July, then completely reallocate in August. Then, you don't have to worry about typing the plus sign.

      If you want to change your categories within groups, that's so easy there's no need to fresh start. 

      If you want to have a completely different category structure, YNAB does not have a way to make that transition easy (but, depending on your amount of desired historical budget perfection, it's not that hard, either).

      You can hide old categories with transactions in them, which allows you to keep the history visible for reports with some clicking around. 

      You can also recategorize old transactions into your new category structure, which isn't terribly difficult - just search all accounts for the old category, select all, and recategorize.

      The difficulty comes in because YNAB doesn't send the money budgeted from the old category to the new category, so your available amounts get off. If you're resetting everything anyways, no problem.

      If you want to keep the same Available amounts, screenshot them before you start the process and you can just put them back so they display correctly at the end of July. 

      Or, if you're like me, you might find yourself going back to ensure that at least there's no historical overspending as a result.

      Either HappyDance or WordTenor I believe, has a set of instructions about recategorizing historical transactions and making the budget dollars match the recategorization.

      I wouldn't recommend a Fresh Start unless you've fallen off the wagon and haven't kept up inputting transactions for a long time. 

      The above methods seem complicated, but there's really just a lot of ifs. 

      Like 2
      • Superbone
      • YNAB convert since 2008
      • Superbone
      • 5 days ago
      • 2
      • Reported - view

      PhysicsGal I have a contiguous budget going back 9 years! The last 8 of those years with a full net worth. I love seeing my progress over all that time in the net worth report!

      Like 2
      • HappyDance
      • YNABing consistently since 2014
      • HappyDance
      • 5 days ago
      • 1
      • Reported - view

      Move Light Sound Life 

      Link to my step-by-steps for separating a category that's too busy and combining categories 

      https://support.youneedabudget.com/t/80aknc?r=18a1tp

      Like 1
      • PhysicsGal
      • Nerdy female homo sapien
      • physicsgal
      • 3 days ago
      • 2
      • Reported - view

      Superbone I wish I had stuck with YNAB continuously since I was using YNAB 3 in 2011...but at least I'm sticking with it now.  It's just annoying when you know you knew better but you still didn't do what you knew you should have done.  Can't change the past, can only move forward.

      Like 2
      • Superbone
      • YNAB convert since 2008
      • Superbone
      • 3 days ago
      • 1
      • Reported - view

      PhysicsGal Yep, learn from it, move on, and just work on the next 10 years.

      Like 1
  • Happy YNABiversary Danny C ! The progress you've made is definitely reason to celebrate! 馃帀

    Like 1
      • Danny C
      • RN
      • Sea_Green_Wizard
      • 6 days ago
      • Reported - view

      Faness Thank you!

      Like
  • i love posts like this, it's so inspirational. I wonder where I will be in 2 years. Congratulations on your achievements!

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  • Congratulations! I have just past a year and am 13 months on Aug 1st. Like you & many others, YNAB has changed my life! :)

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