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Author: aroneous Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19328  
Subject: YNAB Date: 4/21/2012 12:15 PM
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Ok, I bought YNAB last night. So far, setting it up has been as easy as promised. I had created Daily spending Plan (basically a cash flow spreadsheet) for us, which we've used for several years. It's kept us honest, and since each month gets it's own sheet in the workbook, it lets us see what a major purchase NOW will do to us several months from now.

Keeping us on budget is a good thing, but we're not building much for the future. THe Daily Spending Plan has been good, but has it's limits.

So, YNAB. Hopefully, it'll keep us on track even better - with the DSP, there was a line item for savings, but if we overspent somewhere else, it was just too easy to zero out the savings to make up for it. With YNAB, it seems like that will be a much more conscious decision, and maybe will keep us from deciding to overspend.

Wish me luck!
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Author: ems79 Two stars, 250 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 19165 of 19328
Subject: Re: YNAB Date: 5/2/2012 4:42 PM
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I find that YNAB is working quite well for me. I started last year.

One thing that helps keep me honest is that I have my monthly "savings" amount transferred on the 1st of the month... that way in order to "zero" the column I have to actually go and transfer the money out of savings.

Granted I am not exactly a model of budgeting and money management prowess, but without I have no doubt that I'd be in over my head by now, vs. still breathing and above water :)

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Author: yeilBagheera Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 19166 of 19328
Subject: Re: YNAB Date: 5/3/2012 11:03 AM
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Excellent to read that you've found a new technique to protect your savings.

( I tend to take a look at interest as 'free money' and enjoy receiving it: that's a trick that worked better in my youth, when savings earned noticeable interest)

YeilB

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Author: PipneyJane Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 19167 of 19328
Subject: Re: YNAB Date: 5/4/2012 8:27 AM
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I tend to take a look at interest as 'free money' and enjoy receiving it: that's a trick that worked better in my youth, when savings earned noticeable interest

My own trick is to treat things like dividends, interest and rental income as only being spendable on the same type of investment, i.e. I can use dividends to buy more shares but I can't use them to buy dinner. Surplus-to-expenses rental income has its own savings account, away from the rental property account. Any bank interest received goes towards whatever is the purpose of that bank account, so interest received by the car repairs/insurance fund becomes part of the fund.

This sort of quarantine helps me save up for the next item, since I don't view it as my money-to-spend. My only money-to-spend comes from my salary.

- Pam

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Author: ChiefSittingDuck Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 19168 of 19328
Subject: Re: YNAB Date: 7/6/2012 3:17 PM
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I have been using YNAB for about a year. I struggle with keeping within my spending limits because of a junk food addiction. However, since starting it, I have been able to invest monthly which is something I've never been able to do in the past. I'm not yet where I want to be budget wise, but I'm no where near where I used to be. It sounds like you're already in a better position with more experience in budgeting money. Good luck with it.

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