Ripping Apart Our Budget - knocking off $900 a month

[@thezilinskilife]

Join me today as I go through our budget with a fine tooth comb and start cutting expenses, subscriptions, and other lifestyle inflation items. The goal is to get our monthly goals BELOW $6,000 a month. Which is our bare minimum monthly income. Somehow I have to eliminated $900 from our budget....can I do it?

[@frogads]

you should do a video on what DITTO is and what you use it for. thats almost half your rent!

[@mrachel3]

I had never heard of it but based on Mr. Google, it looks like an Amway MLM.

[@debratakagawa4764]

I think you might regret dropping YNAB. Since you’re good until summer maybe look at cutting back on one of the kiddos music/video expenses. On the up side you did great cutting out $900 from your budget. Now any extra money Cody brings in can be set aside for paying down debt, car maintenance, or unexpected emergencies. I’m rooting for you!

[@thezilinskilife]

Thank you ❤️❤️

[@rachelstallings5460]

I tried going without YNAB for a while and couldn't do it - just makes the math and expenses so easy. But would be interested in seeing your Budget Mom workbook if you go that route! Also you can get back about 10 from lowering costco to the $60 and lowering the marco polo target to what you actually pay vs. the bill.

[@thezilinskilife]

Maybe I'll do a video of TBM workbook next week. So far I'm liking it. 👍

[@YazWhyNY]

Commenting as I watch: - I knocked on wood too, for both of you. Thanks for the reminder to look into life insurance again! - DITTO seems a lot, I know you mentioned customers and stuff. Is most of that $600 for you guys? - I'm interested in a smart ring too. Thanks for the tip about UltraHuman, I was checking out the Samsung Galaxy ring since I'm already in the Samsung world. - We're considering canceling Prime too. It IS very convenient but just like you, I'm an impulse spender (hello ADHD 🙃) - Can you split a Costco membership with someone? I was able to share my card bar code thing with my sister whenever she needs to shop, not sure if that's just a U.S. thing. - Totally biased but yes $160/yr is worth your ease of mind 💜💜💜 I do get your reasoning tho. Esp now that you're moving towards cash. - You did amazing cutting costs!

[@chrisbranham1608]

Great video! I agree with the others that you should reconsider canceling YNAB. Can you imagine how long it would have taken you to figure out this budget adjustment using pen, paper, and a calculator? Time is money, and I'd venture to say YNAB just saved you both. Also, if you're willing to try to tackle your impulsive spending, maybe Cody would be willing to check YNAB before spending. It's such a valuable resource to help make wise decisions. Well, good luck!!

[@Missy-ch7pm]

I would cancel the pet insurance. I also have a senior cat and the most expensive and one of the most common things that come up are dental and bladder issues. Pet insurance won’t cover dental at all anyway

[@thezilinskilife]

This is good to know! Our pet insurance says it'll cover dental, but only routine cleanings. Nothing restorative, or anything else.

[@debratakagawa4764]

That was amazing your ability to cut out $900 from your budget. Now when Cody gets overtime or more money you can put it towards debt, car maintenance, or whatever minor emergencies pop up. Personally I think you might miss YNAB I don’t know if you get any money from KZbin but maybe that can pay for it.

[@thezilinskilife]

I think I'll definitely miss YNAB haha. I really love the app. We do get a bit of money from KZbin. But it's not much. Usually $100 every other month. But we could use it to pay for YNAB. I'll run this idea by Cody. Thanks!

[@abreenacrystal]

At least in the US, if you dont make back a check of $60 at costco for the executive membership, they'll prorate the cost to downgrade to the regular membership for the next year. Might be something to look into.

[@thezilinskilife]

Oh, this is good to know!! I'll ask when we go in for our renewal. Thanks!

[@santizo715]

Don’t get ride of YNAB! Can’t you deduct on your taxes as a business expense? Selfishly it’s also the reason I started following you guys.

[@thezilinskilife]

Haha, I suppose we could. We could also let the business income pay for it. We've had a few people now say we need to keep it.....so maybe I'll keep it haha I also love ynab and don't want to get rid of it.

[@simplifinance5154]

can you reduce your costco membership? in the US, there is a $60 one and a $120 one

[@thezilinskilife]

I'm thinking that's what we'll do, is lower it to the $60 annual membership 🤔 because we do still sometimes shop there

[@NettieFIRE]

Maybe 🤔with YNAB create a focus group of the categories Cody pays attention too and screenshot that page and print it off every other day to see if that peeks his interest. If he plays games on his phone surely YNAB can be gamified on his android (but maybe the paper print off is the step that gets him to that point). Experimenting helps.

[@thezilinskilife]

@@NettieFIRE These are good idea's too! We'll keep working on it. I love YNAB, I hope I can get him a little more involved on a more regular basis.

[@debtisdumb]

yay for chopping down expenses !

[@kano0794]

Good job on going through to bring things down! Instead of putting your tax refund to paying off the Bell bill, would you be able to pay off one of your other debts? That would permanently free up cash flow that you could use towards anything else, including possibly your phones. Just a brainstorming thought!! Happy New Year :)

[@thezilinskilife]

I wish it was enough to pay off one of our debts! We only have two left. The consumer proposal and the car. Which are both more than our anticipated refund. So the plan is to pay off the phones and immediately free up that monthly cash flow. Which can then be redirected to a debt snowball.

[@kano0794]

@ that makes sense!! Also Bell is the worst. So I wish you well in getting free of them 😅

[@thezilinskilife]

@@kano0794 Thank you! haha, we have not been enjoying our experience thus far and also look forward to switching carriers.

[@1971Brena]

Hello, While you have the Costco membership buy Costco Gift Cards that you can use there after your membership expires. Could you bring someone in your home to watch the children during peak work hours?

[@thezilinskilife]

Unfortunately everyone else in our friend group also has multiple kids under 5. So we aren't able to babysit for each other. And we don't have any family that can come watch them. With the cost of babysitters ($20+ an hour) it's cheaper in the long run to just leave then in daycare. Which is what we've decided to do for now. Costco gift cards are a good idea, I always forget that you can use them even without a membership. I think we'll probably keep our membership, but downgrade to the $60 one.

[@The0Patt]

@@thezilinskilife when our kids were little we were part of a friend group that traded baby sitting favours. It worked pretty well.