20th October 2021

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.

So. Payday. Payday payday payday. 

I did end up cancelling that dog food subscription. The first delivery was so much faff, delays and redeliveries and then slightly the wrong food (the wrong food part was my fault, but when I tried to switch it for the next month, the food I wanted was out of stock for over a week and I couldn’t switch it back), so in the end I gave up and cancelled the subscription. In the New Year I’ll sort something out, but for now I just do the 20 minute walk to the one shop that stocks this brand. 

I have managed to negotiate the price of therapy down a little. Only by £8 a session, but… eh. Take your wins where you can, I’ll be saving £32-£40 per month more than I would have otherwise.  I’ve done the assessment with them, now I’m waiting to be matched to a counsellor. (Apparently in the UK the terms therapist and counsellor are pretty much interchangeable)

I’ve decided how I’m going to handle it budget-wise is that each month I’ll refill my therapy category back up to £200. Whatever is left after that will go into my Next Month Income category.

If I can get that category over £1k by January, it might be worth trying to get a month ahead anyway in the New Year. A lot of categories wont be 100% empty yet as I will have only just filled them 12-15 days prior (depending on where payday lands around the weekend) so it might be worth giving it a shot.

For context, my goal for the NMI category is £1312. My rent is £350. So, on the 18th Dec I get paid £1312, I assign £350 to the rent category, I assign £ to the NMI category, making it £1k exactly, I assign £ to everything else on my budget, filling them as normal. Rent is not paid until 2nd Jan. On the 1st Jan I take that £1k and start assigning £ to all the categories, HOWEVER, my rent category already has £350 in it, so I do not assign more £ to the rent category, as I will not need more rent £ until February. So, not including the rent category, £1k should be enough to cover every category. Every category should be full. On the 18th Jan I get paid again. I put this money straight into the NMI category and leave it, as my categories should have enough money in to last the month. On 1st Feb I assign money to all my categories, this time including rent. 

That works, right? My logic is sound? Its only going to be difficult for one month, then after that things get much easier as the goals in the app will start to work correctly for me.

NMI currently has £945.76 in, so if I can get £54.24 together over the next two paychecks… right around Christmas though 😬😬😬

The goal of replenishing my e-Fund to £3k has been pushed back to March ’22, it is just not my priority now. It has £2899.88 in, if something happens in the next two months I’ll start cannibalising other categories if need be. 

One thing I am getting slightly frustrated about (which makes me think that it needs to be my next priority, if I’m feeling frustrated) is the lack of progress on a house deposit. I’m sure I’ve said similar before, but; my next worth is currently over £10k, five years ago I’d have thought “oh, thats house deposit money!”

I’d have been wrong, because 10k will NOT get you a house anymore, but of that 10k (technically just over 11k, because I’ve just been paid), only 1k is assigned to the House Deposit category. One of my friends suggested moving money from other categories into the House Deposit category, which is a valid suggestion, but then what if (for example) my laptop breaks? I have to move the money back where it was before. There aren’t many single categories I could raid that would move the needle much. Most of my categories have less than £200 in. Of the ones that do have more than £200 – do I take the Divorce Fund? The Laptop Replacement? The FA Diploma money? Of the smaller categories – maybe a few of them bundled together would add up to something substantial, but even then I’m still a long way off. If I was less than a year from completing my house deposit, maybe I could cancel Pride, the tea subscription, the tattoo, the new year whiskey even – but I’m easily 5 years away from having a house deposit, its a marathon not a sprint.

So yeah I think that the fact that it’s bugging me so much tells me that, once I’m a month ahead, house deposit needs to be my next priority. 

And then, finally, the thing we’ve all been excited about… YNABSwag. I did not know what to expect as I did not participate at all last year, but I was able to WAM a little and get myself a lil something-something this time 💛 Free shipping, even to the UK, was a pleasant surprise. Kind of guessing at the sizes but fingers crossed it’ll be ok. 

In all this cost me about £51 so far (there may be some customs fees to pay when it arrives, we’ll see). I’d set aside £30 specifically for YNAB merch, and was able to WAM the rest from clothing. Two of the things I bought were genuinely clothing anyway, so it all works out. 

In response to someone suggest I look into getting a LISA

I managed to get a H2B ISA before they closed down

You can HAVE both, but because they are both cash ISAs you can only PAY INTO one per tax year

(I **think** stocks and shares LISAs exist, which would be an exception to that – but then I also already have a stocks and shares ISA elsewhere haha)

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