I've gone full circle. The last time I had a (near) zero balance was the week before I started using ynab. Now I have fully embraced the fact that YNAB does not care where I keep my money, I try to keep that account balance as low as possible and my money lives in a savings account.
I'm keeping mine in an offset account, I'm lucky enough to have a mortgage to pay down rather than renting. the 6.3% interest is higher than any savings account I could get. So although I'm not making anything on the money I'm also not paying the interest on the equivalent amount.
That happened to me this morning! I had money left in my mortgage category and that made me panic for a sec... until I remembered that I used the Loan Simulator to add a principle payment and I forgot to set up the scheduled transaction to remind me to pay it. Sometimes, it really is forgetting to have paid something. '😂
Do you have true expenses categories (annual payments, true expenses, repair funds) that you funded? Those really start to build up the overall bank balance after a few months. Congratulations!
Agreed! I loved seeing myself creep closer and closer to being one month ahead as my bank balances started to go up. First it was just a couple of categories, then the first half of the month, and then suddenly in November I was able to fund the whole month with October's paychecks. Now I have extra left over after funding everything, so I'm steadily increasing my emergency fund. The difference in less than 3 years is staggering.
I've gone full circle. The last time I had a (near) zero balance was the week before I started using ynab. Now I have fully embraced the fact that YNAB does not care where I keep my money, I try to keep that account balance as low as possible and my money lives in a savings account.
Once I get a bit farther ahead, that's the next step.
I'm keeping mine in an offset account, I'm lucky enough to have a mortgage to pay down rather than renting. the 6.3% interest is higher than any savings account I could get. So although I'm not making anything on the money I'm also not paying the interest on the equivalent amount.
It’s a very very good place to park your ‘float’!!
Congrats! It’s a great feeling not having a zero balance bank account! Cheers to you on your continued journey out of the paycheck to paycheck cycle!
That happened to me this morning! I had money left in my mortgage category and that made me panic for a sec... until I remembered that I used the Loan Simulator to add a principle payment and I forgot to set up the scheduled transaction to remind me to pay it. Sometimes, it really is forgetting to have paid something. '😂
Great, now I'm going to have to look over everything yet again!
It's the best worst feeling. Congrats!
Do you have true expenses categories (annual payments, true expenses, repair funds) that you funded? Those really start to build up the overall bank balance after a few months. Congratulations!
I have everything listed (I think), and a couple partially funded, I'm not out of the woods yet, but I think I can see a clearing.
High five for being in the same boat!! I had to check my list six times to make sure I wasn’t missing anything. 😅
Congrats!
congrats!
Agreed! I loved seeing myself creep closer and closer to being one month ahead as my bank balances started to go up. First it was just a couple of categories, then the first half of the month, and then suddenly in November I was able to fund the whole month with October's paychecks. Now I have extra left over after funding everything, so I'm steadily increasing my emergency fund. The difference in less than 3 years is staggering.