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Budgeting: YNAB vs SimplePlanning.net; Debt paydown vs Sinking Funds

January 6th, 2018 at 03:39 pm

So one of my plans for the year is to get back to tracking my expenses--something I did assiduously when I first started on this site in 2006, but which I stopped doing during all the life craziness that started at the end of 2009 (leaving my job/career, Henry Hound's cancer diagnosis, my mom's terminal diagnosis). After a "wild & crazy ride," things at long last feel more stable, so it's time to get back to tracking and trying to rein in spending reasonably. I don't feel the need to go all austere--after all, who knows how long any of us has? Financial independence is an important goal, but I also want to enjoy the ride along the way. So I'll leave in some money for books, movies, dining out, and vacation, but I'll also try to cut the money spent in those categories compared to the last couple of years.

Back in my earlier days on this site, I learned about and used YNAB for at least a couple of years--back in the days when it was an Excel-based spreadsheet. I liked it back then. I've gone and enrolled in the free trial for the current web-based version, and I must say that I don't find it at all intuitive, so I found another Excel-based spreadsheet that I'd used before, at SimplePlanning.net, and I'm going back to that. I love the *idea* of YNAB, but not the current incarnation. Jesse Mecham just came out with a book and I'm reading that, but I think I will part ways with his software and stay with good old familiar Excel (where I spend about half my working life).

As I mentioned in an earlier post, I got a 20% bonus at the end of last year. I did use some of it to bring down my debt, but even though part of me felt a strong urge to put it ALL towards debt reduction and cut another 6K off the debt, I decided--at least for the moment--to keep 6K in sinking funds for larger expenses that will (long-term care insurance premiums, dental for one of my cats) or might (car repair, home repair, etc) occur. Most of the debt is pretty low cost--0% to 4%. When one of the 0% terms expires in May, I might consider paying that chunk off in full, but I figure I'm ok not deciding right now. At some point, maybe I'll give in and get that debt down to the 86K total that I'd listed as a goal, but for the moment, I'm enjoying enough money in my savings accounts to cover the big expenses that tend to accrue for me in the summer.

The idea of "slowing down to speed up" by "funding true expenses first" is something that Jesse Mecham talks about in his "You Need a Budget" book. So what I'm doing is consistent with that--trying to get off the treadmill.

As part of my cost-cutting attempts, today's big grocery shop of the week was at Aldi's, where I got out for $85. They didn't have celery or sweet potatoes at the store I was in, so I'm stopping at the Price Rite on my way home to pick those up. Then home to make beef stew. (Not all of the day was cost-cutting--I went to my favorite diner for breakfast and treated a friend to lunch, but the rest of the week it's back to home cooked meals--the beef stew, a chicken dish--maybe a paleo sesame chicken recipe I saw online if I feel ambitious tomorrow, the vegetable soup that I'm still eating from last weekend's cooking, and another batch of ground beef tomato sauce, which I am eating over shirataki noodles, along with a side of kale.

No real progress on goals yet this week--I did one before-work exercise session. I'm recovering from an Achilles tendon injury anyway, so I'll push on the exercise once that is healed. It's too cold in my downstairs to spend time decluttering--when I'm at home, I make and eat dinner and then scurry up to bed. Upstairs is quite cozy and it's only when the weather is below 20 outside that I really feel cold downstairs. I didn't do any CFP exam studying yet, but I've drafted most of three blog posts for work that I am supposed to write this year, so getting that out of the way is good and cuts pressure from those expectations for the rest of the year. I promised at least 3 for the year and those are mostly done!

3 Responses to “Budgeting: YNAB vs SimplePlanning.net; Debt paydown vs Sinking Funds”

  1. Amber Says:

    I'm reading the "Why I Need a Budget," by Jesse Mecham who makes some great points but I'm not too fond of the use of credit card idea.

    Like you excel is my go to for creating a budget, but what I have found that I love is Google sheets. With the Google sheets I can access my budget at anytime and anywhere

  2. Dido Says:

    Yes, I've been using Google sheets for my monthly net worth statement. The version of simpleplanning that I bought is the premium version, allowing for online storage and access.

  3. rob62521 Says:

    I use Google spreadsheets too to keep track of net worth as well as monetary donations.

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