11th November 2020

These posts were originally posted on the YNAB forums and MoneySavingForums (a UK money management site), I am moving my journals across to WordPress to have them in chronological order, and because the YNAB forums are closing as of March 2022. I’m not sure how much of other people’s words I’m allowed to copy across from one site to another, so in some sections I may summarise conversations.

I haven’t dipped further into my Emergency Savings as of yet – at this point it’s about £23 higher than the amount I had saved up in September (I haven’t received my November pay check yet) so I’m technically making progress. I’m thinking when my Emergency Fund hits my initial goal of 3k (not quite 3 months pay, that would be closer to 4k, it’s just the goal I picked initially) I’m going to try “get a month ahead” according to YNAB. This just means I’ll have enough on hand that I can budget on 1st of the month no matter what date I get paid.
It’ll just make the app and goals slightly easier to use. In bank balance terms it’ll just mean I have an extra months worth of Emergency Fund, in my current act instead of the savings act. So to my mind I’ve basically just split my Emergency Fund into two; If I lost my job abruptly, I’d have a month before I needed to start dipping into the E-Fund.  
I plan to use a “Next Month Income” category where each time I get paid I put the money into that category where it waits until the 1st of the next month where I then use it fill my categories/pay my bills. I reckon I’ll hit my E-Fund goal mid to late next year, so I’ll start my Next Months Income category then. 

~*~

I’ve started the dreaded Christmas shopping, and I can already see I haven’t quite saved up enough to buy as many presents as I wanted to – but three of the people I want to buy for, I haven’t established a habit of doing so. I just secretly hoped I could (I hadn’t made any promises yet).  Despite using YNAB last Christmas, I didn’t quite have the categories set up right so I have less of an eye on how much I spent on gifts last year. I also think I’m trying to spend more per person than I did last year, so need to keep an eye on that. 

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