After decades years in our home (our first home!), my husband and I have decided to move. It was a big decision, of course. And it’s a good decision for us. YNAB was instrumental in helping us figure out the financial side of the decision and giving us peace of mind.
We’ve to decided to sell our house and move into an apartment in a nearby neighborhood. We are thrilled at the idea of letting go of the expenses and responsibilities associated with home ownership. And we’re really excited to go from a lovely old house built in 1908 to a lovely modern apartment building built in 2020. Our apartment is on the 35th floor and it’s in a great neighborhood (that’s a picture of the building). The rent is higher than our mortgage payment. When we went about trying to ascertain whether we could afford to make this move–my husband is retired and we’ll be tapping into our retirement nest egg–YNAB was an essential tool.
To figure it out, I simply did a Fresh Start on our current budget and removed the expenses we’ll no longer have after we sell the house. Then I added the new expenses for the apartment. YNAB made that so easy. (I’m grateful to my friend and fellow YNAB Certified Budgeting Coach, Shannon Wilkinson, for helping me!)
After we decided to go for it (we are so excited!) we had to figure out how to pay to spruce up our house before listing it and to cover rent and mortgage for a few months since we won’t be living there while the work is being done.
Before YNAB, the idea of having both rent and mortgage payments would have terrified me so much I wouldn’t have even have considered it an option. Thanks to YNAB we have some sinking funds we can tap into, along with our retirement investments, and if we need to borrow money, the YNAB loan planner will help us weigh the options there. We don’t have any credit card debt but we opened a 0% card, confident in the knowledge that YNAB will help us make sure we pay it off before the promotional period ends.
It’s reason #10035 I’m so grateful to have YNAB in my life!
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