Kalakshar US

I’ve always been pretty money-conscious, but I didn’t really get into budgeting until I was in my mid-twenties. “Budgeting” is generous — I thought I was budgeting, but really I was using a crude Google Sheet system to track my expenses every month. I didn’t truly understand the difference between those two things until I started looking into ways to upgrade. It had been working fine for me, but as I got older and wanted to grow my savings, save up for a home down payment and a wedding and generally do more “adult” things with my money, I started to scour the internet for alternatives. I settled on You Need a Budget (YNAB) about four years ago and I’ve enjoyed it so much that I keep using it even after achieving some of those milestones.

The YNAB Method is an approach to budgeting that resonated with me then and still does today. I won’t belabor the basics here, but put simply, you’re to give every dollar a “job” as soon as you get paid by taking care of immediate needs first and then accounting for the rest of your true expenses. The way YNAB does this is basically by acting like a digital envelope system where you can customize all of your envelopes (or “categories”) and the amount of money you need for each (“targets”), and dump money into all of them every time you get paid. For example, I know I need $65 each month to pay for internet, so I have an internet category in YNAB with a target of $65 each month that’s due by the 15th, since I’ll need that money to pay the bill on the 20th of every month.

Follow that example for all of the rest of your expenses like rent or mortgage payments, groceries, electricity, insurance premiums and you’ll have a full YNAB budget in place. You can (and should) also do that for “true” expenses, which include things like hair cuts and car maintenance in the YNAB system. You may not need a specific amount of money for things like that every month, but you can plan for them by saving a little every time you get paid — so by the time you need to get that hair cut ahead of a wedding or unexpectedly need a new set of tires, you have at least some, if not all, of the money necessary to pay it.

I was already taking stock of my standard expenses and setting aside money for those first and foremost, but YNAB made the process much easier. It’s worth noting that was already part of my routine. I was privileged enough to get a decent financial education from my parents growing up (mantras like “pay yourself first” come to mind, and I see taking care of your most necessary expenses as a way of accomplishing that).

The game-changer for me was considering my “true expenses,” which added up quickly. The inevitable weekly takeout order, veterinary bills for our cat, train and rideshare fees and the like were all things I knew I needed to pay for but didn’t previously deal with until the time came. In YNAB, you can create categories for all true expenses and plan for them each month (or week, depending on how you budget/get paid) so there’s (hopefully) never a question of how you’re going to pay for any of them.

If you’re able to do this and get your expenses in order, it’s possible that you’ll find you have money left over each paycheck. Then you can expand your budget to think about other true expenses or sinking funds you may want to address. My line between true expenses and sinking funds is blurry at best, but the latter are just allocated monies you set aside for variable expenses that you know are inevitable like home maintenance or insurance premiums.

Holiday gifts were big for me; every year, I have even more people in my life that I need to buy gifts for during the holiday season and I never planned for that in advance before using YNAB. Now, I have a “holiday gifts” category with a generous target that I put money toward every month and set to be “due” every year in early October. As soon as sales start to kick in during the fall, I have a pool of money with which I can buy all of my loved ones’ gifts.

I should say that YNAB appeals to my Type-A, über-organized personality, but you can’t plan for everything. A few years back, I unexpectedly had to spend about $500 for some car repairs and I didn’t have quite that much in my “car maintenance” sinking fund. Instead of panicking, I moved some money over from my “clothing” category to cover the remainder of the costs. It was a bit painful psychologically (I love seeing those little green progress bars in the YNAB app), but it didn’t impact my finances at all. YNAB accounts only for the money you actually have, regardless of which category it’s in, so I wasn’t spending anything that I couldn’t afford. That’s really important to me, as someone who tries to live within their means — and as much as possible, below it — to avoid lifestyle creep.

Getting back to those “adult” priorities I mentioned before: YNAB was one of the key things that helped me and my partner save up a home down payment and the funds we’d need to pay for our wedding simultaneously, without feeling too stretched along the way. We cut down (not cut out, mind you) on all unnecessary expenses and aggressively saved during this five-year period, and YNAB made keeping track of it all easy.

But I would like to stress that the service was just one of the things that helped, and there were other factors that contributed as well. It’s not realistic to suggest budgeting alone is the answer to all of one’s money prayers. But it’s certainly a step in the right direction and a good habit to build over time.

I consider YNAB up there with 1Password as one of the few services I’m happy to pay for every year because of how much it adds to my life. However, it’s worth noting that you don’t have to pay for YNAB to start budgeting using its tenants. The YNAB method, the envelope system and zero-based budgeting are all very similar and you can do them all with less expensive tools, and even manually with physical envelopes and cash. There are plenty of online communities with flourishing examples of how you can get started without paying for yet another subscription. I recommend checking out Taylor Budgets, Budget Treasures and other similar YouTube channels for more inspiration.

This article originally appeared on Engadget at https://www.engadget.com/what-we-bought-how-ynab-gives-me-peace-of-mind-and-keeps-my-money-in-check-140049410.html?src=rss 

When Elon Musk first took over Twitter, those of us in the tech media had all kinds of theories about how the acquisition might bring about the death of the 17-year-old platform.

Some posited that his inept attempts at cost-cutting would cause irreparable damage to Twitter’s infrastructure or that mass resignations would lead to catastrophic instability. But as is so often the case with Musk, predictions were in vain. Twitter did die this year, but the way it played out was both more boring and more stupid than anyone could have possibly imagined.

Musk killed Twitter by slowly making it useless for those who relied on it for real-time information, by choking off conversations from those not willing to pay, by flooding users’ timelines with spammy blue-check sycophants and renaming the company X. He killed it by re-platforming actual Nazis and far-right trolls and Alex Jones and boosting anti-semitism so loudly the site’s largest remaining advertisers and most prominent users abandoned the platform in droves. Though you can still go to www.twitter.com and see a website that vaguely resembles the thing we used to call Twitter, it’s only a dull echo of what it once was.

The beginning of the end

While you could argue the death spiral began the second Musk walked into Twitter HQ carrying a sink 14 months ago, the platform we all knew began to die three months later, when Musk abruptly decided to ban third-party client apps from its platform and put the rest of its API behind an outrageously expensive paywall.

Twitter had long been an outlier among its social media peers for having a relatively open platform. It gave researchers tools to access the full history of all public conversations on Twitter. It allowed developers to build their own apps on top of its platform, which fostered a small but robust ecosystem of third-party Twitter clients.

Third-party apps like Tweetbot and Twitterific had a relatively small (but devoted) following, but they also played a significant role in defining the culture of Twitter. In the early days of Twitter, the company didn’t have its own mobile app, so it was third-party developers that set the standard of how the service should look and feel. Third-party apps were often the first to adopt now-expected features like in-line photos and video, and the pull-to-refresh gesture. The apps are also responsible for popularizing the word “tweet” and Twitter’s bird logo.

And while many of these apps had become less prominent in recent years, they were emblematic of the way that Twitter, at its best, empowered its users to shape the platform.

Likewise, having an open and readily-available API meant that Twitter, while not the largest social platform, could play an outsize role in shaping online culture. Because its firehose of data was easily accessible to researchers, the public conversations that happened there fueled studies into everything from global elections to public health.

By closing its API to developers and the research community, Musk made it clear he was not interested in using Twitter for anything that couldn’t make him a buck in the process. Twitter’s data was simply another part of the platform to commodify. Nearly a year later, making Twitter’s API inaccessible to all but those with the deepest pockets may not seem like even the tenth-most consequential change to happen under Musk, but it showed just how willing he was to alienate influential communities on Twitter. It was also a major warning sign of what was to come.

The blue check fiasco

If killing Twitter’s API was a quiet warning sign, the complete destruction of Twitter “verification” was a five-alarm fire. Twitter’s verification system was always flawed, but it hinged on the basic premise that the company had some evidence the accounts it verified belonged to the actual people claiming them and that those were people or organizations of some importance. When Musk rolled out his poorly thought out paid verification scheme last year, it went horribly and predictably wrong almost immediately because he failed to uphold any kind of identity check.

Despite the chaotic initial rollout, verification’s now-meaningless status did not become fully apparent until this year. After a wave of thousands of spammers, scammers and Musk sycophants signed up for verification, Twitter began removing “legacy” verification from thousands of accounts.

The algorithmic boost provided to the new paid-for wave of blue checks, combined with the promise of a potential share of ad revenue, has drastically altered the dynamics of conversation on Twitter. Verified accounts are given priority ranking in replies and search results, regardless of the size of their following or their engagement — which has made Twitter even less relevant and useful. And the promise of potential ad revenue has incentivized the worst kind of engagement bait.

The result is that even the most carefully curated timelines have become filled with useless spam. And fraudsters are increasingly using pay-to-play verification to carry out scams targeting people trying to reach legitimate customer service channels.

X marks… the death of Twitter

If you were to look for a singular moment when Twitter died, however, it happened in July, when Musk announced that the company would now be known as X. The company changed its name, logo and everything formerly associated with the bird app.

This was more than an ill-considered rebrand. X, a letter with which Musk has long been fascinated, represented, literally, the end of Twitter. For as much as Musk has said it’s about creating an “everything app,” it’s also about fully severing any ties to the expectations and norms associated with Twitter. Want to break verification? Want to charge new users for the privilege of posting? Want to make news stories unreadable? Want to maliciously slow down links to competitors’ websites? Want to re-platform the most heinous peddlers of hate and conspiracy theories? Those actions may have been at odds with Twitter’s mission, but at X, it’s all just another Tuesday. As CEO Linda Yaccarino told CNBC “the rebrand represented really a liberation from Twitter.”

It’s unclear if Musk will ever succeed at creating anything resembling an “everything app” where users will be able to use X to run their “entire financial world.” So far, users seem to have little interest in the somewhat random assortment of new features that have been introduced, like live shopping and aggregating job listings. What Musk has succeeded at, however, is reshaping the platform in his own image.

But if there was any doubt remaining about whether the platform had a chance, Musk has almost single handedly wiped out what remained of Twitter’s ad business. After boosting an antisemitic conspiracy theory and repeatedly failing to prevent ads from appearing near pro-Nazi content, many of the company’s largest remaining advertisers have halted their spending on the platform.

Musk, naturally, responded by telling advertisers “go fuck yourself,” while speculating that the loss of ad dollars could “kill the company.”

But it’s not just advertisers who have fled an increasingly toxic platform. Many of the biggest and most-followed accounts have stopped posting in recent weeks. X’s infrastructure continues to slowly crumble, with random features constantly breaking. Meanwhile, all this has only strengthened the growing number of X competitors, and especially the Meta-owned Threads app. Threads is surging, landing at number four on Apple’s list of most-downloaded apps of the year, despite a late summer launch. X, which has seen steady declines in traffic and engagement, did not make the list.

This article originally appeared on Engadget at https://www.engadget.com/how-twitter-died-in-2023-and-why-x-may-not-be-far-behind-143033036.html?src=rss