Yessss love this 💕💕 I’ve done this to save for new brakes. I saved 2% of each paycheck (paid weekly) and had the money in about 2 months. I didn’t even feel the pain of the missing money. Now I’ve started doing this for my wish farm items so I can start getting some stuff I want. 😁👍🏻💚
Thanks so much 😁💚 Love ALL your videos 💕💕💕 If you see this again, a video request I have to be to see how you handle the yellow in your budget when you move money around IF you haven’t budgeted for the month as a whole. Example: If I usually put $50/month for clothes, I just add some here and there throughout the month. So say I’ve added $15 so far and it’s the middle of the month. Then, I have to use $10 to cover some overspending. So now my goal is going to say I owe clothes category $45 (because it thinks I haven’t funded the other $10 I moved). If I borrow from a category though, I don’t want to have to fully find it because then I won’t be getting ahead. At that point it’s like I’m just borrowing from myself. Since I get paid weekly, it’s hard to remember exactly how much I originally budgeted if I move money to cover things. If a goal is fully funded, it’s easier to just turn the goal off for the month and restart it next month. It’s just harder when goals are somewhat funded. So, if you are not a month ahead, how would you handle remembering how much you still owe a category if you’ve borrowed from it? A lot of the times the dollar amounts have change, so that’s even harder to keep track of lol. Hope this made sense.
I didn't realised, but I'm already saving 1% of my paycheck (quite exactly !) each month. And it feels good ! I should try the shaving for categories now ! As always, a pleasure to watch any YNAB video 🥰.
Great tip! Looking forward to implementing it once we have stable income that covers the basics. We are on bare min expenses, sonitnis fun to see future saving/goal ideas.
Maybe the Developers for YNAB could make the 1% savings rule, and the Shave and Save idea a part of the software so that it would be automatic. Just saying
At the very beginning, you made a lightbulb go off over my head. My hours were cut to 30 for a lot of 2020, and now they are at 35. I've managed to stay within my budget, even with that 25% paycut, so that shows me that I really CAN afford to save more for retirement when I get back to 40 hours. Thanks! (Now, will I do it, or will I go on another overseas trip??)
What I like about saving more for retirement is that it also saves you on taxes. So it could well be that if you up your contribution by 5%, that your paycheck decreases only by 3% or so... Good luck!
Yes, all our videos on TH-cam are professionally captioned. It's closed captioning, so you'll have to turn the captions on. Click the "CC" icon at the bottom of the video. If you're on mobile, tap the video, then tap the three dots in the top right, then tap captions.
I started the save n shave in January with 2% of our paychecks going into our retirement. With a split transaction for each paycheck the savings is automated and I don't accidentally spend the money. I'm going to try the shave method on my clothing category, I spent too much money on clothing last year.
Brilliant! Love your scheduled transaction technique to keep that shaved money out of sight, out of mind. And yes, girl 😑 I feel ya on the clothing thing. Me too, me too. -Hannah :
Well, through my lack of self-control 😂 This dress is from Bohme, but honestly I get most of my clothes from Target, Kohls, and Old Navy or Gap! Sometimes I also shop at online boutiques like Carly Jean Los Angeles and Roolee! I keep an eye out and take big advantage of the sales. You know, to "save money"... on clothes I likely don't need :P -Hannah :)
I have a problem. I wish you could make a video about this. I belong to the group of savers with a long budget. When it comes to giving every dollar a job I don't usually know how to organize it, because there is so much left over. Sometimes I put crazy amounts in the "to save" section but since I feel like I have margin I end up spending on nonsense and not saving as much as I could. Of course, even when I fix the overspending, there's still some left over, but I feel guilty for not saving more.
I feel you on this. I ended up opening up an online savings account that I don't even track on YNAB. I started having money go directly to it out of my paycheck. (I'm lucky that our automatic deposit is able to be split to two different accounts if we want.) So I only budget the amount that goes into my main checking that I use for all my purchases. The other account is still liquid in case I need it fast, but I don't carry a debit card or anything so I'm not tempted. It's where I save for big stuff and emergencies. It's worked well for me to be able to build up some savings since I don't really "see" that money. I hope that makes sense.
Chele, it's actually a dress! I got it from Bohme, an online boutique! I got it in the fall, so it might not be there anymore, but they have some of the cutest stuff. -Hannah :
I didn’t need to watch this... but I got excited by new Hannah content.
😄 me too! Love her!
Same! She's my fave. I want all my YNAB content to come from Hannah. She makes it so entertaining.
Always hilarious Hannah, your personality really brings this stuff to life! Stay awesome.
Thanks Scott!! As a kid I never thought I'd be planning and releasing frequent budgeting videos for FUN 😂 But I love it. Glad it's mutual!
-Hannah :
Yessss love this 💕💕 I’ve done this to save for new brakes. I saved 2% of each paycheck (paid weekly) and had the money in about 2 months. I didn’t even feel the pain of the missing money. Now I’ve started doing this for my wish farm items so I can start getting some stuff I want. 😁👍🏻💚
Wow! That's amazing, holy cow!! Great strategy and way to go for building those true expenses!
-Hannah :
Thanks so much 😁💚 Love ALL your videos 💕💕💕
If you see this again, a video request I have to be to see how you handle the yellow in your budget when you move money around IF you haven’t budgeted for the month as a whole.
Example: If I usually put $50/month for clothes, I just add some here and there throughout the month.
So say I’ve added $15 so far and it’s the middle of the month. Then, I have to use $10 to cover some overspending. So now my goal is going to say I owe clothes category $45 (because it thinks I haven’t funded the other $10 I moved).
If I borrow from a category though, I don’t want to have to fully find it because then I won’t be getting ahead. At that point it’s like I’m just borrowing from myself. Since I get paid weekly, it’s hard to remember exactly how much I originally budgeted if I move money to cover things.
If a goal is fully funded, it’s easier to just turn the goal off for the month and restart it next month. It’s just harder when goals are somewhat funded.
So, if you are not a month ahead, how would you handle remembering how much you still owe a category if you’ve borrowed from it? A lot of the times the dollar amounts have change, so that’s even harder to keep track of lol.
Hope this made sense.
I didn't realised, but I'm already saving 1% of my paycheck (quite exactly !) each month. And it feels good !
I should try the shaving for categories now !
As always, a pleasure to watch any YNAB video 🥰.
You go, Glen Coco!! Point and case that the shave and save works-your brain didn't even know you were doing it! :P
-Hannah :
@@YNABofficial That is indeed proving your point 😄 ! Painless 🤑
Hannah that shirt is SO cute! And such great advice!
I think Hannah is my favorite TH-camr 😂👌🏆
Thank you Hannah!
Great tip! Looking forward to implementing it once we have stable income that covers the basics. We are on bare min expenses, sonitnis fun to see future saving/goal ideas.
Yes! Cheering you on Colleen!! Baby steps everywhere we go! You're on your way :
-Hannah :)
I was there last year! Hang in there 🙏🏿
Nice tips, baller Hannah. Ima do this actually lol. Much appreciated
I love this!!! Thanks Hannah!
your blouse is super cute!
As always, Great video Hannah
Maybe the Developers for YNAB could make the 1% savings rule, and the Shave and Save idea a part of the software so that it would be automatic. Just saying
At the very beginning, you made a lightbulb go off over my head. My hours were cut to 30 for a lot of 2020, and now they are at 35. I've managed to stay within my budget, even with that 25% paycut, so that shows me that I really CAN afford to save more for retirement when I get back to 40 hours. Thanks! (Now, will I do it, or will I go on another overseas trip??)
What I like about saving more for retirement is that it also saves you on taxes. So it could well be that if you up your contribution by 5%, that your paycheck decreases only by 3% or so... Good luck!
@@petrahuijts147 Good point! That is true for a traditional IRA, but for a Roth IRA you pay taxes before it goes in.
Have you thought about captioning the videos? or is there an article to link to? I find it easier to read about these things than watch a video
Yes, all our videos on TH-cam are professionally captioned. It's closed captioning, so you'll have to turn the captions on. Click the "CC" icon at the bottom of the video. If you're on mobile, tap the video, then tap the three dots in the top right, then tap captions.
agree here, would prefer reading an article over videos. please do double! thanks.
@@YNABofficial thanks I didn't know they had captioning or that you could turn on captions - learn something new every day :)
The videos are split into chapters too. If you're on mobile, you can find the chapters broken down right next to the video timestamp
I started the save n shave in January with 2% of our paychecks going into our retirement. With a split transaction for each paycheck the savings is automated and I don't accidentally spend the money. I'm going to try the shave method on my clothing category, I spent too much money on clothing last year.
Brilliant! Love your scheduled transaction technique to keep that shaved money out of sight, out of mind. And yes, girl 😑 I feel ya on the clothing thing. Me too, me too.
-Hannah :
Hannah, how do you find all these cute outfits?
Well, through my lack of self-control 😂 This dress is from Bohme, but honestly I get most of my clothes from Target, Kohls, and Old Navy or Gap! Sometimes I also shop at online boutiques like Carly Jean Los Angeles and Roolee! I keep an eye out and take big advantage of the sales. You know, to "save money"... on clothes I likely don't need :P
-Hannah :)
I have a problem. I wish you could make a video about this. I belong to the group of savers with a long budget. When it comes to giving every dollar a job I don't usually know how to organize it, because there is so much left over. Sometimes I put crazy amounts in the "to save" section but since I feel like I have margin I end up spending on nonsense and not saving as much as I could. Of course, even when I fix the overspending, there's still some left over, but I feel guilty for not saving more.
I feel you on this. I ended up opening up an online savings account that I don't even track on YNAB. I started having money go directly to it out of my paycheck. (I'm lucky that our automatic deposit is able to be split to two different accounts if we want.) So I only budget the amount that goes into my main checking that I use for all my purchases. The other account is still liquid in case I need it fast, but I don't carry a debit card or anything so I'm not tempted. It's where I save for big stuff and emergencies. It's worked well for me to be able to build up some savings since I don't really "see" that money. I hope that makes sense.
@@ElectricStitches I use an account like that to save for income tax, property tax and homeowners insurance!
Unrelated, but I LOVE your shirt!! Where can I find it?!
Chele, it's actually a dress! I got it from Bohme, an online boutique! I got it in the fall, so it might not be there anymore, but they have some of the cutest stuff.
-Hannah :
When you say a percentage of your income, is that your net or gross income?
I guess it’ll be your take home pay which you see coming into your bank account
Your choice. Shaving is shaving.
Shaving like Floyd the barber, not Sweeney Todd.
Love Hannah❤
🥰🥰
Except in Australia where you literally have no choice.
Haha, delete delete delete.