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Financing my own Debt

November 7th, 2017 at 06:35 pm

I use YNAB, and I think a lot of you do as well, but I don't use it exactly as it's meant to be used. Sometimes I let a category go negative for a few months, and rather than moving money from other categories to cover it, I just pay down the negative over several months. I guess I could move money around, but for me this lets me keep track better.

It works because the other categories have plenty of money in them and we live on the previous month's income, so there is always enough money in our checking account.

So here are the things I'm self-financing right now:
- Current household project- fenced in area for our dog - this is at -$94
- Unexpected medical expenses -$257
- Estimated taxes from September - $635

I used extra money this month and set up a math problem so I was allocating it to each debt proportionally. I like math!

We should have all of these paid off before Christmas. Just in time for another estimated tax payment in January!

3 Responses to “Financing my own Debt”

  1. ceejay74 Says:

    I don't use YNAB but I do allow certain budget line items to run a deficit rather than pull money from other areas! Most of the time it's no big deal. More recently our shared spending got into a big hole and actually did cause cashflow problems, but it's getting under control again, slowly but surely.

  2. rob62521 Says:

    It sounds like you are making it work for you. Good for you!

  3. terri77 Says:

    I can't remember why, but I got aggravated using YNAB. I couldn't figure out how to make it work for me. Also, do you have to pay to use it? I think that was another deterrent.

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