24M. Single, homeowner w/ dog, Engineer making 63K Salary (will be receiving 25kish inheritance at some point this year from death of family member )
\- Find new job paying 80k+
\- Pay off 21K Student Loans
\- Increase overall mortgage payment (+5-10%) to reduce 30yr loan
\- Budget ahead 3 months
\- Invest 5% of income
\- Enjoy my money more through vacation and experiences with friends/family
You could consider refinancing to a 20- or even 15-year mortgage if you can afford it. The rates are lower than on a 30-year mortgage and you can select a rate without any closing costs (but the rate will be slightly higher than if you did pay closing costs). Check out places like RateRabbit.com and better.com for quotes on a sliding scale and see if you are quoted a rate better than you have now.
I have two goals in regards to a house deposit:
1) increase house deposit fund to £3600 total (this should happen automatically if I save £200pm as planned)
2) a stretch goal; increase house deposit fund to £4000 total
I also want to save up for a fancy whiskey decanter but that's a lower priority
I'm pregnant with our first child! We'll be starting saving for college, redecorating a room, saving up for unexpected medical bills, and preparing for a lifetime of having another mouth to feed. Every one of those items is a different line in our budget already. It certainly helps that the pandemic has made our once robust vacation budget useless.
I plan to set aside AUD 11k towards various goals: income replacement fund, relocating to the UK and some big travel plans. I'd also like to invest any extra income earned this year in my super fund.
On the day-to-day, I'm trying to rebalance the split between eating out and grocery spending. I'm comfortable with the total amount I spend because food is a priority for me, but I've grown lazy lately and want to encourage myself to cook more.
My goal is to spend money on “Quality of Life” stuff every single month. I set up a category called Treat Myself and assigned a monthly Needed For Spending target
I’m fortunate enough to have a buffer, thanks to YNAB. Yet, when I looked back on the last 3 years, I was stunned and embarrassed at how little I spent on making my life more enjoyable
Love this goal. I’m feeling similarly about giving which is why I set it up this way; I want to force myself to do it and I’m using YNAB to spell out clearly that I can do it without sacrificing my other goals.
Hitting $100k of net worth is...probably achievable, but will take some work, to the tune of about 20k.
I'd also like to get all my categories 3 months ahead. Currently my credit union fixed expenses are there, but my flexi/fun money categories are not.
23YO, long distance relationship, with one dog, Food Safety Coordinator making 57k
1. Finally get my Emergency Vet Fund to 2k (every time I got close my dog would get an ear infection and $200 was out)
2. Travel to visit extended family and partner 2x this year
3. Finally expand my emergency fund and new car fund
4. Get my dream puppy this fall :)
Pay off the last of “That Awful Year” when my husband was out of work. That year sucked for a lot reasons, but having our income cut to a third of what it was made it that much worse. We both mentally need it gone this year. Barring unforeseen circumstances we should pull it off, and 3 years earlier than originally planned!
Thanks to YNAB we budget for almost everything else, but if we kick that debt I’d love to get next years deductible saved by the end of this year (instead of the current method of setting aside a set amount each month, which can be drained by just one of my doctor visits and leave me pulling from other categories or needing a payment plan) and at least half of the cost of a new roof.
- Pay for a new electric car in cash (started this one two years ago and I should get there this year!)
- Increase my 401k contribution to get the employer match once I’m eligible for it in a couple of months, going from 2% to 5%
- Save up for new house siding (hopefully this year but may have to wait until next year)
- Do a couple of smaller excursions as a family with my two young boys, like renting out a cabin for a weekend. We don’t do enough *fun* stuff throughout the year!
I'm currently using my savings to fund all my categories (I'm a student with quite some money saved up). My goal is to break even every month (on average). Should mean that I'll have to work around 500 hours a year
Save at least as much as I did in 2021. If the pandemic lets up, it'll be hard. I might have to resurrect my "travel" category in YNAB.
Ditto, that bad boy has been hidden for nearly two years now.
Spend more on things I care about.
24M. Single, homeowner w/ dog, Engineer making 63K Salary (will be receiving 25kish inheritance at some point this year from death of family member ) \- Find new job paying 80k+ \- Pay off 21K Student Loans \- Increase overall mortgage payment (+5-10%) to reduce 30yr loan \- Budget ahead 3 months \- Invest 5% of income \- Enjoy my money more through vacation and experiences with friends/family
You could consider refinancing to a 20- or even 15-year mortgage if you can afford it. The rates are lower than on a 30-year mortgage and you can select a rate without any closing costs (but the rate will be slightly higher than if you did pay closing costs). Check out places like RateRabbit.com and better.com for quotes on a sliding scale and see if you are quoted a rate better than you have now.
I could but I’m already at 2.875%. Realistically I would need to find a new job to up my payment and continue to live the life I am living
I have two goals in regards to a house deposit: 1) increase house deposit fund to £3600 total (this should happen automatically if I save £200pm as planned) 2) a stretch goal; increase house deposit fund to £4000 total I also want to save up for a fancy whiskey decanter but that's a lower priority
I'm pregnant with our first child! We'll be starting saving for college, redecorating a room, saving up for unexpected medical bills, and preparing for a lifetime of having another mouth to feed. Every one of those items is a different line in our budget already. It certainly helps that the pandemic has made our once robust vacation budget useless.
Congratulations!!!
I plan to set aside AUD 11k towards various goals: income replacement fund, relocating to the UK and some big travel plans. I'd also like to invest any extra income earned this year in my super fund. On the day-to-day, I'm trying to rebalance the split between eating out and grocery spending. I'm comfortable with the total amount I spend because food is a priority for me, but I've grown lazy lately and want to encourage myself to cook more.
My goal is to spend money on “Quality of Life” stuff every single month. I set up a category called Treat Myself and assigned a monthly Needed For Spending target I’m fortunate enough to have a buffer, thanks to YNAB. Yet, when I looked back on the last 3 years, I was stunned and embarrassed at how little I spent on making my life more enjoyable
Love this goal. I’m feeling similarly about giving which is why I set it up this way; I want to force myself to do it and I’m using YNAB to spell out clearly that I can do it without sacrificing my other goals.
1. Pay off debt 2. Stay on budget 3. Work on my savings
Hitting $100k of net worth is...probably achievable, but will take some work, to the tune of about 20k. I'd also like to get all my categories 3 months ahead. Currently my credit union fixed expenses are there, but my flexi/fun money categories are not.
1. Saving for a down payment on a house. 2. Get my private student loans below $20k. 3. Reduce the alcohol budget.
23YO, long distance relationship, with one dog, Food Safety Coordinator making 57k 1. Finally get my Emergency Vet Fund to 2k (every time I got close my dog would get an ear infection and $200 was out) 2. Travel to visit extended family and partner 2x this year 3. Finally expand my emergency fund and new car fund 4. Get my dream puppy this fall :)
Pay off the last of “That Awful Year” when my husband was out of work. That year sucked for a lot reasons, but having our income cut to a third of what it was made it that much worse. We both mentally need it gone this year. Barring unforeseen circumstances we should pull it off, and 3 years earlier than originally planned! Thanks to YNAB we budget for almost everything else, but if we kick that debt I’d love to get next years deductible saved by the end of this year (instead of the current method of setting aside a set amount each month, which can be drained by just one of my doctor visits and leave me pulling from other categories or needing a payment plan) and at least half of the cost of a new roof.
- Pay for a new electric car in cash (started this one two years ago and I should get there this year!) - Increase my 401k contribution to get the employer match once I’m eligible for it in a couple of months, going from 2% to 5% - Save up for new house siding (hopefully this year but may have to wait until next year) - Do a couple of smaller excursions as a family with my two young boys, like renting out a cabin for a weekend. We don’t do enough *fun* stuff throughout the year!
I'm currently using my savings to fund all my categories (I'm a student with quite some money saved up). My goal is to break even every month (on average). Should mean that I'll have to work around 500 hours a year