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Below are the 15 most recent journal entries recorded in ymoyl's LiveJournal:

Wednesday, June 14th, 2006
1:19 pm
Widening the gap between expenditure and income
Hi all,

My husband and I have been tracking ou expenditure and income, and we're doing really well. I just thought I'd post to let people know that EXCEL works really well, both for budgeting and for making graphs to track expenditure and income. We're finding it a very useful tool, to make sure that we're not only living well within our meas, but that the gap between expenditure and income is growing nicely.

Our short-term goal? To reach a gap of 30% by the end of the year (taxable income). I reckon we can do it, and I'll let everyone know when we get there on a regular basis :-)

Our mid-term goal? Paying off a large mortgage before our son starts school! He's 19 months now, and we're working as well as we can to be totally mortgage-free by the time he's 6.

Our long-term goal? To leave a small footprint on the earth (we're vegan greenies), and teaching our son that life is about good health, happiness and loving others, not about who has what and how much we can take and grab.
Wednesday, May 31st, 2006
9:42 am
Going 'Gazingus-free' :-)
My husband and I are selling all our gazingus-pins!

Most of our are in the form of books, but I also have a lot of perfumes and bone china knick-knacks. So we've done an audit, and we're selling them all online!

So far, we've managed to pay almost all our living expenses for the last few weeks without having to use our income from the bank.

It's a win-win situation - we're claring the clutter (which feels great!), and saving money, and recouping some of the money we wasted on the gazingus-pins in the first place.

We're intending to be 'gazingus-free' by the end of the year!
Tuesday, May 30th, 2006
7:52 pm
Working through YMOYL
My husband and I are working through the book, and we're finding it incredibly useful.

Its a slow process, but the main thing about the book is that it's showing us what we want to head towards. We've found the tracking useful, and now we're starting to work together to understand what is important to each other in termsof what we each consider to be good value for our dollars.

I think we're probably looking at six months (at least!) before we've really got the full benefit of the book ingrained into habit, but we're getting there. We're also staring to get our wall charts up. I'm not sure we're ready for public display yet, but give us a few months and we might be!

How are other people finding the book?

Perhaps one of the most useful things is the whole 'gazingus pin' thing. Now, when I get the urge to buy something useless, I just think "Is this a gazingus pin?", and then laugh, because the answer is almost always YES! It enables me not to feel angry about the waste I had in the past when it came to money, but the humour of the situation, and so it's not so depressing. Because I have wasted hundreds of thousands of dollars in my career. I'm sure of it. And I'm only 35. But on the bright side, at least I discovered this book now, and not when I'm 45!

Anyway, let's et this community moving, and start talking about this AMAZING book!!!
Thursday, March 23rd, 2006
6:23 pm
anyone there?
I just found this community and was SO EXCITED but then saw that it hasn't been posted to for about a year. Is anyone there? I have so many questions about YMOYL. Bought the book in December and basically want people to tell me what I want to hear: that it IS doable (not what I'm getting from most friends, family, etc.). What successes have you had?
Friday, August 12th, 2005
5:50 pm
I am on my way to having my own business. I will sell little handmade things.
Does anyone have any suggestions on where I can get the cheapest yarn? Since I will be making some clothing and accessories, I will need perhaps a larger quantity. $2 a ball of yarn is probably not cheap enough. I'm not sure. Any tips will be good!
Friday, February 11th, 2005
7:19 pm

Greetings, my name is James and I've been doing this program for about 18 months. I'm a student at the art institute of atlanta. I've found that this program has realy helped me to live within a student's income and be able to do this without deprivation. I have a nice wallchart in my bedroom and I'd say that the income line is above the expense line about 80% of the time. There are two annoying gaps were I got lazy and didn't track income and spending. I've resisted the urge to "guesstimate" and fill them in. I figure it will help me to be more diligent in the future. The good news is that I'm debt free and have 6 months worth of living expenses in the bank. Soon I'll start investing. The only place I don't agree with the program is the step that says to invest your long term savings in government bonds. That may be fine to some, but I'm going to invest in index funds like the S&P 500 (SPY) for a better long term return. I will invest in things like bond funds for things I'm saving for in the next say 1 to 5 years, but anything longer than that I believe in using a passively managed stock index fund.

fool.com's fools school has more info about this if you're interested.

Anyway if you've read this far thanks and I welcome feedback.


Sunday, July 11th, 2004
12:39 pm
Hey folks,

I was just wondering, how do you all keep track of spending? I've been using paper, but I'm attempting to switch to Excel. I don't like Quicken, we've tried that for years and it always loses data and manages to crash our computer.
Sunday, June 20th, 2004
11:33 am
Hey folks. I'm new to the group. I got the book for YMOYL several years ago, and thought it sounded amazing, but never really started the steps until last month. Now we're almost done with a month's worth of counting every penny, and it's pretty amazing. I'm really looking forward to building my wall chart this week. Have you all discovered simpleliving.net?
Monday, June 7th, 2004
5:01 pm
online study group
Hello everyone,

I just created ymoylstudygroup as a place to work through the study guide online.

Anyone interested is welcome to join.

Sunday, January 18th, 2004
7:22 pm
Good Budgeting Software
In December of 2003 I went to a money seminar and met a Russian immigrant who had written a budget planning software program that she said was a lot better than Quickbooks. Quickbooks really is a good accounting program, not a good budgeting and expense tracking program.

I downloaded her program http://www.mybudgetplanner.com/ for $20.00 and began using it to plan a monthly budget and track my expenses. It's a pretty good budgeting and expense tracking program. It's not an accounting program at all. You can't use it to balance your checkbook.

Having said that I like it and I do recommend it. It's easy to set up your budget and track your expenses. If you are looking for a simple, low cost budgeting and expense tracking program, this one is easy to use.
Wednesday, November 12th, 2003
9:01 am
hello again
so the question was asked, what have i done so far towards FI?Collapse )

Current Mood: awake
Tuesday, November 11th, 2003
10:14 pm
new member!
heya! i was looking around tonight for frugality-related communities, not really believing that anyone would have started a community about the ymoyl book. lo and behold, here you are -- and if this hadn't been here, i'd have probably begun a ymoyl community myself!

i guess i might as well show my butt on my very first post, however, and warn you that i took the authors of the book to be environmentalists, and that i sympathize with much of the environmentalist movement. (note i said "much," not "all.") including parts of it which don't exactly advocate leaving the fate of the planet up to the free market. which could be problematic, seeing as how there are at least three members here who don't like that sort of outlook.

i don't plan on talking about the environment a whole heck of a lot here, if at all, but just the same i'm hoping that a wide variety of perspectives are welcome here. if not, i might as well know now so i can go somewhere more accomodating and so that y'all aren't bothered overly much.

other than that, thanks to the moderator for starting this thing! :o)
Friday, June 20th, 2003
11:21 am
An appetite for frugality
Someone from the The Retire Early Homepage board on Fool.com posted this article. It's an interesting read.

Tuesday, June 3rd, 2003
12:26 pm
What are you doing to achieve FI?
It took me about 6 months of working fulltime after college to figure out that I wanted to spend more time doing the things I enjoy and much less time working. I hope to retire in 10 years. That's 10 years of serious savings and living far below my means. After retirement (semi-retirement?), I can see myself working part time (>20hrs) at a university so I can take free college classes and be around the college environment that I enjoyed so much as a student.

I'm planning on saving as much as I can (soon it will be about 45% of my salary before taxes) and making as much money as possible.

I discovered the retire early homepage about a year and a half ago and it's really changed how I feel about working. I like how John Greaney promotes job hopping for pay increases. I plan on doing this myself during my career. I've already done it once so far and got a 10% pay increase in the process.
Thursday, May 22nd, 2003
12:16 am
Another useful FIRE resource is the Early-Retirement.Org website, which has a very nice online early retirement calculator. Find out how long it would take you to retire early!
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