Absolutely. After “falling slowly” into debt and painfully digging out twice, we finally broke that cycle with YNAB. And several years strong now. We are a month ahead, almost two in all categories, and our only debt is the mortgage. THANK YOU!!! My husband and I talk about it constantly, to the tune that people put us in the “crossfitter and vegan” zeal category. We gave our oldest daughter YNAB as a gift this year, when she moved out. She is excited about it!
Great advice. Glad to see you release YOUR Podcast lessons on UA-cam. Sometimes the “funny and humorous stars of YNAB aren’t as serious or real as the “creator” of the YNAB app and 4 Rules which is the heart of it all. I like “serious Jesse” being an active communicator. Yes, I know this is 3 years old. ❤
Step 2/Sinking funds makes SO much more sense to me than Dave Ramsey’s $1000 emergency fund. Recently we were in a car accident. A guy ran a red and t-boned us. Until we got paid from insurance (and it took months!), we would have been totally screwed if we had not put money aside to pay medical bills and some car expenses upfront. $1k wouldn’t have cut it. We’re totally reimbursed now, but having the peace of mind of not panicking about going into debt was a huge blessing.
I had thought of doing just that but then was feeling guilty for not following the 7 baby steps of some other financial guru. The guilt is gone now that I found the YNAB way of doing things. No guilt or shame involved!
Rule Two changed my life - I’m crushing my credit card debt while still funding true expenses. Some months, I don’t have a lot of extra money to budget towards debt, because I’ve cashflowed an unusually large true expense. Before YNAB, I would have thought of that as a failure; these days, it’s a major win, no matter how much I can pay - debt that I pay off will not come back, and that’s all that matters.
For me it was big things like taxes and accounting fees that only happen once a year. Now that I’m saving for these I think I will prevent myself from overspending
I was trying to follow the 7 baby steps from a financial guru, but there are so many unique things about my situation that they didn't seem practical and possibly dangerous for me. not to mention the shame and guilt feelings for not following the plan exactly. Then along came YNAB.... enough structure but enough freedom for me to do things the way I need to and in ways that make sense to my abnormally wired brain. I really appreciate the message of this video, prevention!
Freedom! We love that YNAB ushers you into freedom! Best of luck, friend :) Always pop back in when you have questions or want to learn more on a specific topic with YNAB! We'd love to walk with you through your budgeting journey! -Hannah 🌻
Thanks for this video! I clawed my way out of high interest credit card debt. I still have student loans left. I'm clawing to save up so I can go back to school in the fall and NOT take out MORE student loans. I'm also working to build up a 3 month emergency fund AND a pet emergency fund so I don't get stuck again. I was able to start 2021 funding January with December's paycheck. YNAB has me rocking and rolling to my goals! I was previously on the Dave Ramsey plan, which I think was good for me last year because I had bills to catch up AND had high interest debt. Now that I am in a good place, I"m thinking about my life with the view point you're talking about--preventing the next emergency fully!
Just a note in relation to the video caption, debt is nothing like weight loss. 70% of the factors that determine weight (genetics, socioeconomic factors, geographical location, etc.) are outside of a person's individual control. Weight is not about willpower. It is incredibly unhelpful and shaming to portray it otherwise. Generally I have found YNAB to be anti-shame, so it's weird that you all would stoop to shaming in this case. Additionally, there are ZERO studies that show that weight loss is sustainable long term ("long term" as defined by the literature is greater than 2 years), yet those studies do show that intentional weight loss almost always leads to greater weight gain (because the human body is smart and designed to survive famine/starvation). This alone makes it a poor metaphor for what you're teaching about debt. You all are putting so much good into the world. I hope you all can find a better, more helpful metaphor.
Hey Maggie! Thanks so much for your comment. While this was certainly not the intent, we can definitely see and understand where you’re coming from and we apologize. We have removed the description and will be sharing this feedback with the rest of the team so that we can continue to grow and be mindful about the content we put out there! We appreciate your feedback about this! Thanks for making us better : -Hannah :)
Absolutely. After “falling slowly” into debt and painfully digging out twice, we finally broke that cycle with YNAB. And several years strong now. We are a month ahead, almost two in all categories, and our only debt is the mortgage. THANK YOU!!! My husband and I talk about it constantly, to the tune that people put us in the “crossfitter and vegan” zeal category. We gave our oldest daughter YNAB as a gift this year, when she moved out. She is excited about it!
Giving my daughter YNAB in the future will be one of my happiest moments. Congrats to you guys!
That's an awesome gift for moving out!
Well, I’ve been debt free since last week! Finally paid off the last bit of a once 52K student loan. And let me tell you: never again.
Congratulations thats a huge relief!!
Great advice. Glad to see you release YOUR Podcast lessons on UA-cam. Sometimes the “funny and humorous stars of YNAB aren’t as serious or real as the “creator” of the YNAB app and 4 Rules which is the heart of it all. I like “serious Jesse” being an active communicator. Yes, I know this is 3 years old. ❤
Step 2/Sinking funds makes SO much more sense to me than Dave Ramsey’s $1000 emergency fund. Recently we were in a car accident. A guy ran a red and t-boned us. Until we got paid from insurance (and it took months!), we would have been totally screwed if we had not put money aside to pay medical bills and some car expenses upfront. $1k wouldn’t have cut it. We’re totally reimbursed now, but having the peace of mind of not panicking about going into debt was a huge blessing.
But in reality, most folks wouldn’t have even had the $1000. So, being $1000 up helped better than zero.
This is exactly why I budgeted for those annual and monthly expenses before paying off debt.
I had thought of doing just that but then was feeling guilty for not following the 7 baby steps of some other financial guru. The guilt is gone now that I found the YNAB way of doing things. No guilt or shame involved!
Yep. That's me! I fall into the trap of saying " well, I paid off some of my debt and now I can go back and buy what ever I wanted.
Rule Two changed my life - I’m crushing my credit card debt while still funding true expenses. Some months, I don’t have a lot of extra money to budget towards debt, because I’ve cashflowed an unusually large true expense. Before YNAB, I would have thought of that as a failure; these days, it’s a major win, no matter how much I can pay - debt that I pay off will not come back, and that’s all that matters.
exactly, and isn't that what we should all aim for, prevent the debt from returning???
Done.
This breakdown is much needed Jesse! Thank you!
For me it was big things like taxes and accounting fees that only happen once a year. Now that I’m saving for these I think I will prevent myself from overspending
I was trying to follow the 7 baby steps from a financial guru, but there are so many unique things about my situation that they didn't seem practical and possibly dangerous for me. not to mention the shame and guilt feelings for not following the plan exactly. Then along came YNAB.... enough structure but enough freedom for me to do things the way I need to and in ways that make sense to my abnormally wired brain. I really appreciate the message of this video, prevention!
Freedom! We love that YNAB ushers you into freedom! Best of luck, friend :) Always pop back in when you have questions or want to learn more on a specific topic with YNAB! We'd love to walk with you through your budgeting journey!
-Hannah 🌻
This was exactly what I needed to hear. Pumped to get bak on the YNAB train after falling off last year.
Thanks for this video! I clawed my way out of high interest credit card debt. I still have student loans left. I'm clawing to save up so I can go back to school in the fall and NOT take out MORE student loans. I'm also working to build up a 3 month emergency fund AND a pet emergency fund so I don't get stuck again.
I was able to start 2021 funding January with December's paycheck. YNAB has me rocking and rolling to my goals! I was previously on the Dave Ramsey plan, which I think was good for me last year because I had bills to catch up AND had high interest debt. Now that I am in a good place, I"m thinking about my life with the view point you're talking about--preventing the next emergency fully!
So, YNAB 4 steps help you do baby steps 1,2,3. But YNAB is better because it stops the myth of "I'm too broke to budget"
Well said! Thanks!
Thanks budget dad.
I think you need a very large Murphy fund?!
Save more money from what income?
Like my waistline and trying to lose weight. Dismayed that I’ll gain it all back after losing weight, etc.
Just a note in relation to the video caption, debt is nothing like weight loss. 70% of the factors that determine weight (genetics, socioeconomic factors, geographical location, etc.) are outside of a person's individual control. Weight is not about willpower. It is incredibly unhelpful and shaming to portray it otherwise. Generally I have found YNAB to be anti-shame, so it's weird that you all would stoop to shaming in this case. Additionally, there are ZERO studies that show that weight loss is sustainable long term ("long term" as defined by the literature is greater than 2 years), yet those studies do show that intentional weight loss almost always leads to greater weight gain (because the human body is smart and designed to survive famine/starvation). This alone makes it a poor metaphor for what you're teaching about debt. You all are putting so much good into the world. I hope you all can find a better, more helpful metaphor.
Hey Maggie! Thanks so much for your comment. While this was certainly not the intent, we can definitely see and understand where you’re coming from and we apologize. We have removed the description and will be sharing this feedback with the rest of the team so that we can continue to grow and be mindful about the content we put out there! We appreciate your feedback about this! Thanks for making us better :
-Hannah :)
Just stop using debt. Stop spending more than you make.