The Official 2020 Debt Smackdown

Welcome to the Official* 2020 Debt Smackdown! 


Happy new year everyone! 

That's right, we're back for 2020. Last year we saw about 310 of us brutally destroy  about $3 million in debt. Wow. Right. Massive achievement. Can anyone say 'YNAB blog post'?

But there are plenty of us with still some debt to go. And as much as I hate debt, I do love a good spreadsheet, so here we go. A few of us have come into 2020 with some debt remaining. Maybe over spent at Christmas. Either way, this challenge is open to anyone who wants to eradicate that debt from your life. 

So what's this about? If you are holding onto some debt as you enter 2020 - and would like to get rid of it - this challenge is for you.

To the participants from last year, welcome back! For some of us, our total debts are too large to smack down completely in one calendar year, so if you're here from last year, congratulations on your progress and let's keep on doing this! In 2019, we collectively paid down over $2,800,000 in debt! An increase of OVER $1,300,000 than in 2018!

For all new participants, we are happy to have you join in this year! New blood is always welcome. Let's all motivate each other to pay off those debts and continue moving forward to financial freedom.
 

How it works:


1. List the amount of total debt that you owe. 
This step is to give you an awareness of your current debt situation. Feel free to share, this forum is a safe and nonjudgmental place. You can also decide to keep this information private, you don't have to post your total here if you are not comfortable doing so. 

2. Post in this thread the total amount of debt you would like to pay off during the 2020 calendar year. (This part is required.) 
Feel free to break down the amounts by credit card/type of debt. Also, if you have a specific plan or some ideas on how you plan to pay down the debt, you can post that too. Maybe your plan will spark some ideas for others on how to tackle their own debts!

3. Check in monthly in this thread and report on how your debt smackdown is going. (This part is required.)

4. Post monthly on the 2020 Google Sheet to track your progress. (This part is required.)
Claim a line on the spreadsheet, and post your total debt to be paid off, and the monthly amount that you send off towards it. Some people track their total payments and don't account for interest, some people account for principal only. The method you choose is up to you!

If you come across this challenge later in the year, no worries, you can still jump right in. Just put zeroes in the months where you had not joined the challenge yet, and start in the month you join in. 
 

Last year, we collectively paid off $2,800,000. Let's smash that number again in 2020!

Please let me know any issues with the sheet - sometimes things are a bit wonky when making new ones!

*Official in the sense that there's a spreadsheet. Not official in the sense that it's made by YNAB. I'm just following naming conventions here :)

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  • A little extra semi-update for February:

    I decided to slightly change up when I pay money towards my debt in february - instead of paying at the start of the month with the paycheck received at the end of the previous month, I'd pay at the end of the month immediately as my paycheck came in.

    This means that my February pay-off is the rather-more-impressive-than-usual £2,326 (£2,026, or 2 months' worth towards my rent arrears, £300 towards other generic debt).

    March will go back to the usual £1,013, but at this point there's only £1,749 left of my rent arrears, so April is looking like it'll be the last payment for that debt! Then I can start rolling it into my other debts.

    Like 7
      • HappyDance
      • YNABing consistently since 2014
      • HappyDance
      • 8 mths ago
      • 1
      • Reported - view

      Quantum Jump 

      Chugging along with determination.  It's so exciting when you can see the end of a debt.  Go you!

      Like 1
      • Wiecked
      • Happy Happy
      • Orchid_Tiger.5
      • 8 mths ago
      • Reported - view

      Quantum Jump Hot dog! Killing it! 

      Like
    • Quantum Jump Fantastic job! You're building that momentum. 

      Like
  • March update and my tax refund came just in time! Most of it went to the car, but I did throw some at the mortgage as well leading to a nice bump in my progress. Halfway done with the car loan! 🎉

    • Car Loan: $3,925.43/$7,313.03
    • Mortgage: $2,498.82/$7,200.00
    • Total: $6,424.25/$14,513.03
    Like 8
  • March update: I am out of my overdraft! Whoop. I'm looking forward to next month when I can put more of my salary transfer into paying my credit card and start seeing big gains there, instead of getting closer to non-negative checking account balances. In theory, I have a summer trip to plan for. However, I am not convinced that it will happen with the virus fun at the moment. I am in China. There are barely any cases in my city, but we will have to see. It's not just if USA will let people living in China enter, it's if I can renter China from the USA (currently not within two weeks). If the virus messes my holiday plans up, at least I will save a hell of a lot of money (staying with friends and attending a work conference, so not a crazy expensive trip, but still money). 

    Like 7
      • HappyDance
      • YNABing consistently since 2014
      • HappyDance
      • 8 mths ago
      • 1
      • Reported - view

      Orchid Device 

      Congratulations on killing off the overdraft monster.  Massive, MASSIVE, accomplishment!

      Like 1
      • MXMOM
      • MXMOM
      • 8 mths ago
      • 2
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      Orchid Device awesome about the overdraft. We lived in that negative bank account world for years. Now we almost giggle with glee when we see our (positive) balance. 
       

      I hear you on the travel. We just canceled our trip that was planned for the past year. And being in China would make it even more complicated. I have heard that no or few flights are available back to China. 

      Like 2
      • Chinese Orchid
      • Facing facts and getting it done.
      • Orchid_Device.6
      • 8 mths ago
      • Reported - view

      MXMOM There are flights, but it is limited. Currently the conference is not cancelling, but who can say what will happen tomorrow let alone in four months. 

      Like
      • Chinese Orchid
      • Facing facts and getting it done.
      • Orchid_Device.6
      • 8 mths ago
      • 1
      • Reported - view

      HappyDance Thanks! It was especially important given the fact that overdraft rates in the UK are going up a lot from April - even arranged overdrafts. Now just to clear my larger card balance. I also have a small card balance with crazy low interest rates. I want to clear both, but am obviously prioritising. 

      Like 1
      • MXMOM
      • MXMOM
      • 8 mths ago
      • Reported - view

      Orchid Device my husband had a conference in Indianapolis which goes from March 27 to Apr 6. On Tuesday it was 50/0 whether or not it would proceed. Thursday they announced they are postponing the whole thing. Apparently the city did get its first case the day before so it wasn't without reason. 

      But my husband booked accommodations with an AirBnB style company (not AirBnB - they have made an announcement that they are softening their no cancellation policy for both guests and hosts). This company is not refunding him and this type of accommodation is not covered under the insurance cancellations either. So hopefully his company will step up and pay for it or we are out $800.    

      Like
      • Chinese Orchid
      • Facing facts and getting it done.
      • Orchid_Device.6
      • 8 mths ago
      • Reported - view

      MXMOM Wow, that is a hard situation. I've reserved hotel accommodation for the conference, but nothing to pay until 30 days before. At least by that point I will have a good idea of what is happening. If I stay in China during the summer, it isn't the end of the world. I hope that your husband's company fork out the $800. I'd hope that they have corporate insurance for that sort of thing. 

      Like
    • Orchid Device Oh man, that feels SO good to get off the overdraft!! Way to go!

      Like
  • March Mayhem...

     

    Work hours are being shifted.  In response, I've cut the debt snowball.  I think I'm on the conservative end of preparation.  Here's hoping the customers will finish conducting inventory so we can resume our regular route!

    Like 4
  • March progress report on my battle against the student loan beast.

    As of February 6, 2020: $214,965.28

    As of March 6, 2020: $212,955.93

    Notes: Regular monthly payment resulted in principal reduction of $1,209.35. Made extra principal payment of $800.00. Total reduction of principal in March: $2,009.35.

    Year-end goal is to get the balance down $44,934.56 (from $224,934.56 starting place on January 1, 2020) to $180,000.00. With a $11,978.63 reduction so far this year, I'm now about 26.66% there. 

    Like 10
      • Wiecked
      • Happy Happy
      • Orchid_Tiger.5
      • 8 mths ago
      • Reported - view

      Slate Blue Pilot way to slay it! 

      Like
  • I had a flying start in january, and... nothing in february. I worked less, because of illness mostly, and I wasn't payed as much. And I didn't payed too much attention on my finance lately also... got to go back in track !! Mars will probably be a down-month also, but april I will have fire !!

    Like 5
    • Powder Blue Lightning I hope you're feeling better! We all have month's that don't go quite as planned, but it sounds like you're setting up for a major bounce back in April! :)

      Like
  • I'm happy to join!

    I stopped using YNAB when I got a job after attending university (which was a very stupid move). That went more or less well because I earned a lot more money than I had during studying. But after a while my expenses went up more and more and before I know it I accumulated debt again - so I'm back with YNAB since last month and much more relaxed with my financial situation : )

    My currents debts:

    • Student loan: 10k€
    • Consumer loan: 2.4k€
    • Credit Card: 1.1k€
    • Total: 13.5k€

    I currently pay off fixed rates for the two loans of 337 € per month and hope to sustain the 300€ per month to pay off the CC. When I'm done with the CC (and keep my CC spending in check) I hope increase the monthly payback for the other two loans by about 50€ each.

    My goal for this year is to pay off about 5200 €. Lets hope for the best : )

    Like 8
    • Welcome to the Debt Smackdown, Duckie ! 🎉

      Like
  • I had my kickoff and January update already posted but I guess it was also deleted in the "big sweep"!

    Here's what we have so far through February:

    • CC debt from home renovations (0%) - paid $840.43/$2,935.87
    • Car payment - $951.62 / $5,771.87
    • Student loans - $1,542.42 / $9,235.67
    • House - $1,458.92 / $8,873.10

    It's bonus time at work so it will be split towards paying off the credit card (I know, it's at 0%, but I just want to get those house renovations behind me!) and building our Roth IRAs and emergency fund! Woohoo!!

    Thanks for all of the motivation here. It's great to see everyone do his/her best each month. 

    https://docs.google.com/spreadsheets/d/1NzAKcA1i9j3QTPAd_NpdJHYQ2rvTYJRUxf173sEXKRU/edit#gid=0&range=a349

    Like 5
    • Yellow Pufferfish Even if it's 0%, that debt still carries weight. You'll feel much lighter when it's gone!

      Like
    • Nicole I do!!! I paid it off last week. Feels GREAT to see it to zero and not have to spend any more time thinking about this consumer debt. Now I can focus on student loans (14 months, 39 months), car (13 months), and house (16 more years!). However, with all of this uncertainty, I'm not making any extra payments right now and instead trying to save up just a little bit. 

      Like 5
    • Yellow Pufferfish I believe if you have Federal student loans, the interest payments will be put on hold in the very near future due to coronavirus (at least from what I've read).  I have a Parent Plus Loan which is also Federal, so this is good news to me.  

      I agree with padding that emergency fund/saving at the moment...so much uncertainty.  I'm doing the same!

      Like 1
      • Purple Foal
      • Purple_Foal.3
      • 8 mths ago
      • 1
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      Sweet Tangerine That's great news! Keep attacking it if you can to lower your principal! :)

      Like 1
    • Purple Foal  yes I do still plan to do that! 

      Like
  • Hi!  I was part of the 2018 smack down and got rid of all debt except my mortgage.   2019 saw me lose my job and starting my MBA which got me back on the debt rollercoaster.  
    Things are more stable in 2020 again so I want to have a plan to move forward. 
    Current non-mortgage debt:

    Personal loan $61,731

    LOC $22,775.13

    total: $84,506.38

    Goal: steadily pay down personal loan ($6000 this year) and pay off a minimum of $12K off my credit line, for a total of $18K.

    I will support you all in your debt goals and thank you for your support with mine :) 

    Like 7
    • We're here for you, Turquoise Trumpet . I'm sorry 2019 was a tough year, but glad you've returned to the challenge. It can be a great motivator!

      Like
  • March Check In: 

    I've scheduled all my payments for March (won't actually post till later this month because I'm trying to raise my age of money average). Part of my tax refund came in, so was able to put more on my first card and $450 into savings/emergency fund. I also had to spend about $500 on medical bills so I'm no longer owing on those! 

    I realized my first card is the highest interest AND the lowest amount so I will be focusing on that card first. Also trying to at least put a little over the minimum on the second card when I can. Still paying minimum on personal loan. On my student loan for the past several months I would round up my payments (owed 134.45, paid $135). I started because it was easier math on the budget, but after several months I was paid ahead and only owed $120. I was able to use the extra $15 this month to target the smallest loan and it went directly to principle. Hope to put enough extra this year on that loan to get that specific one paid off in full. 

    $1641.67 first card - $500 payment 

    $5424.97 second card - $150 payment

    $6553.23 personal loan to consolidate credit card debt - $283.80 payment

    $18,123.41 student loans - $135 payment

    Excited to get these numbers down even more next month! 

    Like 9
  • Hi everyone! I've decided to join this forum for accountability and moral support. :) I've had trouble spending within my means in the past (particularly mitigating impulse buys on credit), but I'm working towards a clear plan of debt payoff and have unlinked my credit cards from accounts like Amazon, PayPal, and other services so I can't as easily use credit to mindlessly disregard the need to prioritize spending. 

    I'm also planning to avoid using my credit card at all, so that I can focus on the habit of using only money that's actually within my bank account. I'm also planning to put a little card in my wallet (the idea came from this article) that makes me think about tough questions before using a credit card.

    It's not going to be easy, but I care so much about being debt free and am VERY much looking forward to getting rid of $150/month interest payment that is currently coming with my credit card debt. 😬

    Total debt owed: $11,016.20

    • Credit cards: $8,213.58

    • Car loan: $2,802.62

    Total amount of debt I'd like to pay off in 2020: $7,402.62

    • Credit cards: $4,600 (assuming that i put $1,900 in tax returns towards credit card payoff, and then minimum $300/month after that)

    • Car loan: $2,802.62

    Like 7
    • Sea Green Mare Your resolve to make change is admirable!

      I was also an impulse spender for many years (especially thousands of dollars thrown at Amazon Prime. I usually ended up discarding or forgetting about the item a few weeks to months later).

      Just wanted to share two things that helped me:

      - I put a stop to same-day online purchases (that is, if I thought about buying something on Monday, I would -not- allow myself to buy it on Monday). Often times, if I still feel I need it a month later, I'll seriously consider purchasing.

      - I read Goodbye, Things  by Fumio Sasaki. His own life is on the more extreme end of the spectrum, but I found his writing to be very relatable. He offered me an interesting emotional framework for viewing my relationship with life vs. my relationship with things.

      Good luck!

      Like 4
    • Purple Panther thank you for the recommendations and encouragement! These are great ideas.

      Like 1
    • Sea Green Mare You've come to the right place for those! Starting a journal can be another helpful tool, if that's something you'd be interested in—to chronicle your debt free journey.

      internettie Look! Your card is inspiring others. 🙂

      Like 2
      • internettie
      • Writer
      • internettie
      • 8 mths ago
      • Reported - view

      Nicole glad that I can help in any way! 

      Like
  • Awareness and self-accountability update.

    This month I've moved back in with a roommate, as a result now have much more money to throw at my debt which is awesome.  However, this also happened in the last two weeks.... I used to pay for Youtube with no commercials but cut that out when I started this journey in December. So last week was, "man, these commercials are really annoying. Hey, I can add this 11.99 a month charge back, it's okay. I have so much more money towards my debt". Then this week I discovered that Disney Plus has a show I really love, so it was "Hey, it's only 8.99 a month, and I have so much more money available to pay my debt". The "it's only" now adds up to 20.98 a month.

    Last night, it suddenly occurred to me that a month ago I made an 18 cent (yes cent, not dollar) payment on my line of credit and was so excited because I had found a little extra money to shorten this journey. I then thought about the new things I've added and saw the glaring disconnect. Needless to say, both of those services have been cancelled today, and I've re-tweaked my focus. It just makes me realize how easy it is to fall victim to the "it's only" thoughts. They're what got me here in the first place. The slope she is very slippery.....

    Like 12
      • Green Song
      • Green_Song.5
      • 8 mths ago
      • 1
      • Reported - view

      auntdar I know the struggle! We can do this! 

      Like 1
    • auntdar Just a thought: if you have multiple email addresses, you may be able to take advantage of free trials with streaming services if you sign up with a new username...! Just make sure to binge watch your fave show and set a reminder to cancel the day before the trial ends.

      Like
      • Wiecked
      • Happy Happy
      • Orchid_Tiger.5
      • 8 mths ago
      • 3
      • Reported - view

      auntdar And it always strikes when I am feeling down, or bored, or a little sad. Great job reversing those impulse streaming services. Hugs!

      Like 3
      • Purple Foal
      • Purple_Foal.3
      • 8 mths ago
      • 1
      • Reported - view

      auntdar Just a thought, spend less time watching videos & shows, and spend more time reading about personal finance. It becomes addictive, in a good way! Then you will learn new things to motivate you and you won't miss your subscriptions as much since you'll be reallocating your time elsewhere. Check out my journal for a reading list. Also blogs worth reading: Frugalwoods, SavvyNewCanadians (good ideas even if you are in the US), Jessica Moorhouse, Mr Money Moustache. :)

      Like 1
    • auntdar Kudos to you for recognizing and shifting focus again!! It IS a slippery slope, and like I tell my BF all the time it's the nickles and dimes that get you. It's not big things, it's all the small stuff that adds up insanely fast and leaves you with nothing wondering what happened.

      Like 3
    • auntdar It is a slippery slope! Good on you for noticing, and making an informed decision. My SO and I make compromises on a few "it's only" subscriptions, but decided to cut back in other areas to make up for it. 

      Like
  • YAY!!!!

    Like 11
      • Wiecked
      • Happy Happy
      • Orchid_Tiger.5
      • 8 mths ago
      • Reported - view

      lil Ronnie Yaaaasssss!!! That's a great feeling! 

      Like
    • lil Ronnie Woot!! 🎉🎉🎉 Nicely done! :)

      Like
    • lil Ronnie Excellent!! Frame that one! Maybe have a few empty frames hung next to this one for the next debt payoff statements! :)

      Like
    • lil Ronnie wahooo!!!!!

      Like
  • March Update:

    I paid $298 towards my CC debts this month. Less than what I was able to pay last month but... one CC is completely paid off!🎉❤️ It was the lesser of the two cards but it felt nice to be able to snowball that money and knock off an entire card. That means only one interest charge each month instead of two going forward! 😄

    Last CC balance: $545.55

    If I can put $273 towards that in April and May, that bill will be gone too! That will be all the debt I had planned to pay off with the Debt Smackdown. Then I can move on to some non-interest earning obligations - my phone installment plan and a family loan.

    Like 8
    • Peripherie You're making great progress - congrats on paying off that card! :)

      Like
  • March check-in: Didn't get to pay off as much as I wanted to this month as my laptop died unexpectedly and needed to be replaced, but I was fortunate to have that money available and didn't need to use a credit card. Entered repayment on 2 separate student loans starting this month as well. 

    March payment total: $623.26

    2020 Debt paid off: $4,623.42 (goal $10,000)

    Like 8
    • ihearttroponin You had money set aside for that True Expense,  preventing additional debt—which is perfect! 🎉

      Like 1
  • Checking in for March!  Paid $600 towards total debt with this paycheck, bringing my total debt paid to over 52% (woo hoo!).  In light of coronavirus (I work in a hospital setting), I have chosen to further boost my emergency fund.  I also spent more on groceries, making sure my pantry is well-stocked (nothing crazy....I DID NOT buy all the toilet paper rolls, just common sense!).  

    I allocated $200 towards the vet bill (290.00 remains), $200 towards the Parent Plus Loan, and $100 each to 2 of my 0 % interest cards. 

    Thankful for this community of debt-smashers!!!  

    Like 7
      • Wiecked
      • Happy Happy
      • Orchid_Tiger.5
      • 8 mths ago
      • Reported - view

      Sweet Tangerine way to go!

      Like
    • Sweet Tangerine Fantastic progress! We appreciate all that you do during this difficult time.

      Like
  • Hi Ynab's,  Well the beginning of 2020 was so promising with business booming.   I own a travel agency and love my job, but the last few weeks have been beyond stressful, trying to help clients change their trips, navigate their travel insurance policies and understand many daily changing travel supplier policies while trying to keep all of my clients up to date on this everchanging Covid-19 situation. 

    I was on track fro my paydown of my home equity loan but now I am in survival mode to pay the necessary bills since my income has now ceased for the next few months.  So my new goal is to not accumulate any credit card debt over the next few months and pay the minimum on my loan.  Then embrace a new goal once we are out of crisis mode.  Stay healthy and safe.  :-) 

    Like 8
      • Purple Foal
      • Purple_Foal.3
      • 8 mths ago
      • 4
      • Reported - view

      Pink Mermaid That is so tough. I'm sure you will not be the only one striving to pay bills. Keep your chin up! Luckily you've discovered YNAB & have made a battle plan. The debt will get paid, maybe later, but the urgency now is to not take on new debt. Keep going, you've got this! :)

      Like 4
    • Pink Mermaid Sometimes the plan needs to change (Rule Three: Roll With the Punches)! I'm glad you're giving yourself some grace and flexibility with the goal during this stressful period. 

      Like
    • Pink Mermaid there are going to be many people suffering from the fallout of this illness. Kudos to you for readjusting you perspective. I hope that everything bounces back quickly once this has passed.

      Like
      • Wiecked
      • Happy Happy
      • Orchid_Tiger.5
      • 8 mths ago
      • Reported - view

      Pink Mermaid Sending you strength and resourcefulness in these hard times. Hoping you can weather it without cc debt 🤞

      Like
  • March check-in:

    Balance from last month: $3293.00
    Paid down this month: $340.00
    New balance: $2,953.00
    Debt Smackdown Totals: $2,953.00/$3885.24 = 23.99%

    Under 3k! Woot! 🙂

    Like 5
  • March Check-In:

    Paid off $1154 this month. So tempting to just throw the extra $400 at it to pay off the card. But those dollars have other jobs to do! Probably best to be conservative given the economy lately!

    Like 6
  • March check in:

    Paid $1,000 extra to credit card, which now gives me a zero balance EXCEPT for work expenses I will later be reimbursed for... except in corona times it looks like I won't be doing those conferences. Just basically hoping american airlines will allow me to take a travel voucher rather than throwing $1200 out the window on an international flight I'm definitely not taking. Whatever happens I'll deal with it.

    Paid $375 to bank loan

    Refunded $697 on a future air bnb I was able to cancel

    Total debt smash so far in March is $2072.

    Like 5
      • Turquoise Wildebeest
      • No one has ever called me a turquoise wildebeest before and Im into it.
      • Turquoise_Wildebeest.4
      • 7 mths ago
      • 4
      • Reported - view

      Turquoise Wildebeest Second paycheck check-in... I paid another $580 towards the CC, plus $200 on the car. So the total I paid this month was $2852.

      Like 4
      • Wiecked
      • Happy Happy
      • Orchid_Tiger.5
      • 7 mths ago
      • Reported - view

      Turquoise Wildebeest Slaying it!

      Like
  • A bit behind, been trying out nYnab and really the biggest change I've found is that I don't look and manage my budget as much. I dont know how people have managed the change over, I find the new one isn't as joyful as the old one. Even with the ynab toolkit adjustments. Oh well, we'll see if I stay with it, it's the 3rd time I've tried it...

    Feb & March update:

    Didnt get the pt job I applied for, so I'm considering other options.

    Feb no payment was auto taken out, nor did I pay anything. March I'm going to payout 1000. I hope I can add more as I'm getting behind.

    But some good news, I've maintained 200 on LOC, paid in full my car insurance and not feeling the cash pinch too much.

    Like 5
    • ISuckatMaths Do you use the mobile app at all? It's a huge difference from the YNAB 4 app and may help you check your budget more often. We have a number of YNABers who only use the mobile app (outside of reconciling and running reports). 

      If you can pinpoint what brought joy to YNAB 4 that you're missing in the online version, I'd love to hear your feedback! :)

      Like 3
    • Faness I am one of those who purely uses the mobile app. In fact, it was my main draw to signing up to YNAB and I love it!

      I've always got my phone on me and log purchases right as I'm leaving the store. I must admit, I occasionally miss one or two, but reconciling every couple of days keeps me on top of things.

      The fact you can't reconcile on mobile (yet) is actually a good thing for me, as I tend to bring up my online bank on my mobile whilst having YNAB open on the computer so I can view the statement and budget side-by-side.

      Reports would be nice to see on mobile, but I do wonder if I'd actually use it.

      Like 5
    • ISuckatMaths there is a learning curve with the new version, but stick with it, I think you'll find it helpful once you use it long enough to get a little longevity with it.

      Like
      • ISuckatMaths
      • Where Budget and Math collide
      • ISuckatMaths
      • 7 mths ago
      • 3
      • Reported - view

      Hi Faness , sorry for the delay. I had looked for how I could DM you, but couldn't find a way. So I will respond here, I expect my issues are the same as people who haven't switched over, or who don't like the new version - so with my feedback, I don't expect any changes to how YNAB has chosen to operate.

      The joy I have with YNAB4 is that I could plan my next month or few months, and see them. There is a sweet emotional joy in seeing that in Sept 2020 I will have cleared my debt, or that it allows me to adjust my plans because I'm not going to make it - and all this is done visually. I understand that Goals are meant to address that, but in the end the result is not the same as it doesn't have the same tactile/visual experience.

      I think the way the community has addressed the issues with the YNAB extension has made the experience better using nYNAB, but they are still very limited.  Small thing that bothers me is that I prefer I don't want scheduled transactions to be at the top, split expenses really needs a toggle button. Visually it is distracting. I find myself irritated that every time I go onto the screen or log in I need to reset my preferred visual settings. These are little things, but when the old version had more customisation that allowed things to be the way one prefers it it does make life happier. So in the end I find YNAB4 to be easy and joyful. Every time I log in to nYNAB, I find myself a bit irritated because the schedule is at top, the dates are in the wrong order, every split transaction is open. And as such, that joy is a bit eroded, so it has led to me logging on less.

      Regarding the app, I have it. I don't particularly like going on the app, but that is nothing against the app, it's more because I found my joy in coming home and sitting in front of the computer and inputting my info. It keeps everything very tactile and I get to see what's happening. I'm a big believer of the old method of imputing, as it forces one to be very aware of their money.

      So that's how I used to work, these were my moments of zen going through YNAB and seeing how my money moved and grew. 

      Like 3
      • ISuckatMaths
      • Where Budget and Math collide
      • ISuckatMaths
      • 7 mths ago
      • 1
      • Reported - view

      hi farfromtheusual ,  yah I agree all new programmes require a learning curve and I by no means don't expect it to be easy just because I used the old programme.
      I signed on the videos, did the course etc. and it has been my third time on this programme. I don't have anything against it. It's just not as joyful for me. I'm sure if I decide to stay with the programme I'll find ways to reconcile it, the biggest issue is that I don't want to not know what's going on with my money. That is my biggest concern, and it does worry me that I now go on the app once a month, when before I used to go at min once a week with updates and once a month for next month's set up. So it's a big change, and not one that I think is good for my money management... in the end we'll see 🙂

      Like 1
    • ISuckatMaths Thank you for taking the time to respond! Direct messaging isn't available for support (except for Veronica ).

      I may sound a bit like Marie Kondo, but we definitely want YNAB to spark joy - or at least make budgeting more enjoyable and less daunting. :)

      It sounds like the visuals you outlined (multi-month view, option to move scheduled transactions, toggle for split transactions), and the extra steps required to keep them how you prefer, are preventing those moments of zen. 

      We appreciate you sharing your feedback here! At the moment, we don't have any changes planned in these areas on our short term roadmap, but that doesn't mean they can't change down the line!

      Like 1
  • My 1st post and it's not good news.  My plan was to pay off my credit cards which total to aboput £7,000.  After a really good year in 2019 (I'm sel employed) I was looking forward to another but the proverbial spanner has been thrown in the works.  My work involves managing events with large numbers of people present and the CoronaVirus has killed off all of my work.  I have no income at all and I fear my debt will go up until this situation resolves itself.

    Like 2
      • Peripherie
      • Tomato_Captain.11
      • 8 mths ago
      • 1
      • Reported - view

      Gold Case I'm glad to hear that 2019 was a great year. Hopefully, that will have put you in a slightly better place to get through this current struggle. I think a lot of people are in similar positions work-wise. I don't think the 'roll with the punches' rule was designed for such an extreme situation but hopefully that insight and having YNAB to help you make the best decisions that align with your priorities (even as you may have to take on debt) will help you weather things better than without it.

      Not sure where you live but many countries are planning some kind of financial aid now or down the line. I hope you will be able to tap into that if worse comes to worse.

      Like 1
      • ISuckatMaths
      • Where Budget and Math collide
      • ISuckatMaths
      • 8 mths ago
      • 1
      • Reported - view

      Gold Case Hey, I was just reading about this on Friday's Hustle newsletter. I've attached an excerpt of the article, maybe it can help. I have similar issues and I'm leaning towards VR, online, and creating the event at their offices (which is considered a safe space for the company).  

      The numbers are staggering’

      Natasha Miller’s company has already lost $100k in known business. 

      That might not sound like a lot for an outfit that brought in $4m+ of revenue last year, but Miller knows it’s going to get worse. Her company, San Francisco’s Entire Productions, specializes in corporate events for companies like Uber.

      She told The Hustle that her business had 178 events in the pipeline that would go to contract in the next few months.

      “If I owned a company,” she said, “I would not be signing contracts for events until I know they can happen.”

      Miller now expects her business to do about half of what it brought in last year.

      “The numbers are staggering,” she said, and they’ll force business leaders to make hard choices. One thing she’s considering: contracts that are more open-ended, which come with more risk.

      ----

      What to watch:

      Online conferencing is set to boom. As doctors turn to telemedicine and schools turn to tele-education, the value of good online conferencing tools is clearer than ever.

      Virtual reality is about to surge. Businesses that normally require in-person visits -- museums, conferences, concerts, sports games -- are losing revenue, which will likely inspire investment in virtual alternatives. Some museums in both America and China have already begun using live streaming platforms like Taobao Live to take “visitors” on virtual tours.

      Like 1
    • Gold Case *hugs* I hope that things improve quickly, so many people are suffering from the fallout from this illness.

      Like
      • MXMOM
      • MXMOM
      • 8 mths ago
      • 2
      • Reported - view

      Gold Case that is unfortunate. I hope you are able to find ways to navigate this. Perhaps see if there are ways you can pivot your skills to help with some of the new reality. 

      this epidemic highlights the need for emergency funds and planning for the unexpected. This situation is going to devastate so many people financially. I used to be self employed and now work for the government. I know my health would be suffering from stress if I had to navigate this as a self employed business.  The fallout will be ongoing long after the pandemic is under control  

      Like 2
  • March check-in

    Personal Loan: 23,537 now 18,119.11 and counting

    Personal Loan (2): 4,573   3,629

    Personal Loan (3): 4,208 3,670

    0 Int CC: 4,763  GONE

    Total Debt I want to pay off in 2020:  $35,000 and be consumer debt free in 2020

    Goal

    1.  Focus everything extra on Personal loan to payoff in 2020 - avg 3K a month. 
      Tax return is helping me to goal this month. I am spending more too though "dining out" is about to be curtailed!
    Like 7
  • Here's my March update:

    Visa -  GONE!

    MC -       $595.46       $61.00          $534.46

    Total -   $595.46        $61.00         $534.46

    From here on out it's going to get boring.... There's not much to write about since the $61.00 payment is going to stay consistent until the end of the year. No sense paying more on it than I need to since it's interest free. If I get a raise or additional income, then I'll start throwing a bit of it at the car loan, and I'll add that debt in here, but until then it's just this little payment every month. I'm excited for next month - it will be below $500!

    Like 8
      • Purple Foal
      • Purple_Foal.3
      • 8 mths ago
      • 1
      • Reported - view

      farfromtheusual That's great!! And smart to take advantage of the 0% interest to not overpay it now. During this unusual times, just buffer up your True Expenses. :)

      Like 1
    • Purple Foal Yes! Now more than ever that is a wise thing to do!

      Like
  • March Check-In :

    I didn't really put anything super extra to the loan this month and won't be able to during the rest of the month. Car registration, vet bills, and trying to save as much as I can in order to be able to move means only the minimum payments to all debts. Paid on my car and student loans, those aren't being included in this smackdown challenge, but all three minimum payments to debt equals $1304 so it's a lot out of a paycheck just for minimums.

    Expecting utility bills and daily expenses to go up this month as well because of the mandatory WFH policy in place due to COVID-19 so also holding off on extra payments for the time being since I don't know how much everything is going to end up costing for that.

    I have kept my credit cards at 0 though! So that continues to be a big win in my books since paying those off was a huge milestone. I am worried they'll start carrying a balance after April... But that's because I don't have anything saved but I want to do a big trip for my 30th. I don't want to dip into the moving fund... But I can't get enough set aside before it's planned either. I guess I need to think about my priorities again. One side of me wants to get out of debt and move - one side of me wants to be able to enjoy a birthday road trip. Neither wants to add debt to life but to do both 'having a savings' and 'big roadtrip' debt feels inevitable....

    It's just really hard to keep up the pace with debt payoff when you don't get to do anything fun....

    But in real numbers for my update : principal of the personal loan decreased by $370.
    $22,230 left to go!

    It feels like a lot owed still but since that specific loan started out at $48k+ (and so the interest payments have been killer), it does feel really good to see that I'm paying it a lot faster than originally planned. 

    Here's to hoping for some big windfalls this year since my stretch goal was to get this down to $0 and I really really really want to start 2021 with only 2 loans to worry about. But I also really want to be able to move and enjoy the simple parts of life, and it's a juggling act to pay for everything for two people on one paycheck. 

    Like 6
    • Green Cleric Just keeping the cards zeroed is a big deal. <3 I get it.

      With all this illness stuff happening now, maybe it will work out easier to do your trip later. And who knows, you might end up with some amazing bonuses because of that.

      Like 2
    • farfromtheusual Yeah, all the craziness from the virus, it might all be decided for me anyways. 

      Everything non-essential is shutting down in my area. I was just really hoping that it would all be blown over by mid-April and we could still do what we started to plan. It really isn't a time to be thinking about a vacation though. I just love my birthday and all this makes it rough to do anything at all now.

      I probably just need to call it a lost hope and focus on moving instead. I'm sure you're right that it'd end up better to wait, there's bound to be incentives to do stuff once everything is back to normal.

      I'm being silly with really wanting to keep with the game plan even though everything (vibes of the world and vibes of my finances) say it's not a great idea, haha. Selfish side doesn't want life to be this disrupted.

      Like 2
    • Green Cleric all of that is totally normal to feel. When our world gets disrupted we all want to cling to some sort of normal, and sometimes that ends up being something that isn't logical or practical. We are very emotionally based beings, even if we try to ignore that fact most of the time :)
      I would say do what you can with your funds, set aside some, with the idea that maybe you can do something, or maybe it will wait until later. Honestly, I love doing things 'belated' for my birthday, that just makes the celebration last longer!

      Like 2
    • farfromtheusual A longer celebration I can definitely get onboard with! I like that sentiment, I'll just have to change a little of how I look at things. But yeah, everything is crazy right now, really hope life is back to normal quickly and the spread of this stops. 

      Like 2
    • Green Cleric it's more fun that way!!
      I agree, hopefully people do the right thing and help reduce the spread and we can get back to some semblance of normal soon!

      Like 2
    • farfromtheusual fingers crossed! I'm going stir-crazy working from home and getting everything delivered, but I know I'm not alone and hopefully that makes it all stop faster. 

      Like 1
    • Green Cleric I wish I was required to work from home... but not yet. Enjoy the variety, it won't last forever for sure.

      Like 1
      • Emma Catherine
      • Civil engineer getting back on track
      • emmacatherine
      • 8 mths ago
      • 5
      • Reported - view

      Green Cleric I feel you on the birthday. Birthday's are my favorite holidays and I love spending them with the people who make me happy. Looks like this year it will just be me and my cat this Saturday. The struggles of long distance and now this virus. Will just have to do something extra special once some semblance of normal is back

      Like 5
    • Emma  Happy early birthday! (They're my favorite holidays too!!) It is so tough to have everything happening right now, my area just announced shelter in place so it really doesn't feel like I'll get to do much - I can't wait for normal again. Something amazing when it's all over will be what I'm looking forward to. 

      I hope you get to do something really fantastic!

      Like 3
    • Emma Catherine happy early birthday!! My mother's is today (St. Patrick's day), and my horse's is tomorrow!

      Like 2
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