#94 - How Does It Feel to Be a Month Ahead? Budget Nerds Weigh In
Jul 10, 2024
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Learn how being a month ahead in budgeting alleviates stress and anxiety for YNAB users. Discover the benefits of financial stability, reduced mental load, and freedom to make decisions with confidence. Hear personal stories of empowerment and peace of mind achieved through this financial milestone.
Being a month ahead financially reduces stress and anxiety about meeting day-to-day expenses.
Achieving financial stability enables individuals to make mindful decisions regarding work and income without financial strain.
Deep dives
Increased Peace of Mind and Reduced Anxiety around Money
Getting a month ahead financially provides a sense of peace and security, reducing anxiety about meeting day-to-day expenses. By having all expenses covered for the next month, individuals experience a significant decrease in financial stress, allowing for a clearer mindset focused on other aspects of life. This peace of mind enhances overall well-being and enables more mindful decision-making regarding finances and life choices.
Autopilot Bill Payment and Financial Simplification
Being a month ahead allows for bills to be put on autopilot, eliminating the need to worry about bill payments and scheduling. By visualizing the entire monthly financial picture, individuals can easily manage bills and budget effectively, resulting in reduced financial workload and increased financial control. This process promotes financial simplification and organization, enabling individuals to focus more on their life goals and priorities.
More Control over Income and Decision-Making
Achieving a month ahead gives individuals more control over their income and work decisions. With the stability of being financially ahead, individuals can confidently make mindful choices such as working part-time, saying no to certain jobs, or pursuing new opportunities without financial strain. This newfound control enhances the ability to make informed decisions about work, income, and overall financial well-being.
Facilitates Pursuit of Other Financial Goals
Getting a month ahead serves as a foundation for achieving other financial goals and aspirations. By having a financial cushion and increased flexibility, individuals can allocate funds towards savings, debt repayment, or other priorities with ease. This financial security creates space for working towards long-term objectives, fostering a positive financial outlook and reducing stress related to monetary concerns.
Getting a month ahead with your money is a milestone for many YNAB'ers. Being a "month ahead" means that when the first of the month hits, all your bills and expenses for that new month are already paid for -- the money for them is sitting in your bank account, and assigned to the respective categories in YNAB, waiting to cover those costs. And boy does it feel good!
In today's episode, Ben and Ernie share stories from YNAB'ers who have achieved that milestone of being a month ahead, and how it has relieved them of stress and anxiety, taken away the fear of job loss, and reduced the overall mental overhead required to keep track of when paychecks hit and when rent and utility bills go out. When you are a month ahead, you break the paycheck to paycheck cycle and life gets a lot less stressful -- at least your financial does.