You Need A Budget (YNAB)
Jesse Mecham
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A weekly dose of just the right medicine to help you get out of debt, save more money, and beat the paycheck to paycheck cycle.
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3 days ago
Shift Your Spending Into High Gear
If you think about it, there's only one thing that money can do -- be spent! The use of money is, ultimately, the spending of money. Even if you give money away, it's given to others so that they may spend it. Or if you save money, that money is being saved (and perhaps invested in hopes of getting more money in the future) so that it can be spent in the future. But it's all spending at the end of the day. In today's episode, Jesse paints a picture of spending with a budget a mind, spending with clarity (because you are in tune with what you want your money to do), and perhaps most importantly, spending guilt-free.
Budgeting is really about spending money, and spending it without remorse or guilt... maybe even spending with joy?
Got a question for Jesse? Send him an email:
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Sep 18, 2023
Ask Jesse: ...And Done!
Pfew! Done, finally! Jesse clears up the backlog in his Ask Jesse mailbox, answering listener questions about the nature of credit card spending in YNAB, whether YNAB'ers should still have emergency funds, and what to do when saving up for a down payment while houses continue to rise in price.
Got a question for Jesse? Send him an email:
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Sep 11, 2023
Ask Jesse: We're Getting There People!
Jesse continues to work through his backlog of Ask Jesse questions, including his thoughts on credit karma, the magic of 1% retirement contributions, and whether he would save cash in case of recession or pay down debt.
Four Thousand Weeks by Oliver Burkeman
https://www.amazon.com/Four-Thousand-Weeks-Management-Mortals/dp/0374159122
Got a question for Jesse? Send him an email:
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Sep 4, 2023
Ask Jesse: Still Catching Up
Jesse is catching up on his inbox after a summer break, and answering your questions!
Got a question for Jesse? Send him an email:
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Aug 28, 2023
Ask Jesse: Catching Up
Since Jesse has been away, the emails have been piling up! Jesse works through his backlog of Ask Jesse questions today, including a woman who has a newfound distaste for credit cards... and wrote to Jesse to tell about it!
Got a question for Jesse? Send him an email:
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Aug 21, 2023
An Experiment Made Permanent
Jesse is back from his summer break and ready to answer your questions and talk money! Long-time listeners of the podcast know that each year Jesse experiments with something in his financial life, whether its reconciliation intervals or category structures. This year Jesse decided to wean himself off credit cards entirely, and he provides an update on that project. So far it's looking good, and he expects that this will be a permanent change.
Got a question for Jesse? Send him an email:
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Aug 14, 2023
When Expenses Rise: Ben Rolls With the Punches
What do you do when the biggest line item in your budget increases, like, a lot? You engage your Rule Two super powers and roll with the punches of course. Emotionally, however, it's not easy when you have to reallocate dollars away from categories to handle the increased expenses in another category. It's not just a math problem -- each of those dollars symbolizes intentions and plans, which now must be put on hold, or changed altogether.
In Ben's case, it's renovating a bathroom badly in need of a refresh. In this episode, Ben shares how he keeps his spirits up when he has to roll with punches and put plans on hold.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Follow Ben and Ernie on the Budget Nerds Podcast
Apple: https://podcasts.apple.com/us/podcast/budget-nerds/id1606054345
Spotify: https://open.spotify.com/show/0H1u8pqYrvz6zj6noHbkB3?si=fc181a82b8d540a6
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Aug 7, 2023
Money Stress
Ernie is running solo today, and sharing some recent developments in his financial life that have made him rethink his budget entirely. YNAB'ers are creatures of habit, and many of us enjoy the budgets we have created and honed over the years as neat pieces of work in themselves. But as Jesse has said over and over on the podcast, the budget really exists to serve your needs and help you prioritize your spending in accordance with your values. Life is dynamic, and sometimes those needs change!
That means the budget needs to change with your life. Ernie shares how he blew up his budget and started over after a series of home renovation projects and medical bills started taxing his existing category balances. Money stress started building -- even veteran YNAB'ers are not immune to it! -- and he realized the budget was no longer serving his needs. That's the takeaway: don't be too precious with the budget you've created, even if it has served you well for a long time. And understand that money stress happens to everyone, and that's OK!
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Follow Ben and Ernie on the Budget Nerds Podcast
Apple: https://podcasts.apple.com/us/podcast/budget-nerds/id1606054345
Spotify: https://open.spotify.com/show/0H1u8pqYrvz6zj6noHbkB3?si=fc181a82b8d540a6
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Jul 31, 2023
Rules Changes: A Quick Trip Through YNAB History
Did you know that YNAB's Four Rules weren't always four? And contrary to popular belief, they did not spring forth from Jesse's head fully formed! No, the Four Rules developed over years as Jesse refined and clarified the YNAB method behind the software (and originally, the spreadsheet). Ben and Ernie take a quick spin through the history of the Four Rules, going all the way back to the very first YNAB website in 2004.
Budget Nerds Episode #50: A Brief History of the YNAB Rules
Apple Podcasts
https://podcasts.apple.com/us/podcast/50-a-brief-history-of-the-ynab-rules/id1606054345?i=1000581636493
Spotify
https://open.spotify.com/episode/3AdIeFpt0ZfuM0kKEF8Yr0?si=d235636937564f38
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Follow Ben and Ernie on the Budget Nerds Podcast
Apple: https://podcasts.apple.com/us/podcast/budget-nerds/id1606054345
Spotify: https://open.spotify.com/show/0H1u8pqYrvz6zj6noHbkB3?si=fc181a82b8d540a6
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 24, 2023
How to Talk to Your Partner About Budgeting
Ben and Ernie share their personal experiences talking to their partners about budgeting and YNAB. Every family is different, and every partnership will handle communicating about money and budgeting differently, but the important thing is that you do it! Frequent, regular money conversations help everyone stay on the same page and focused on the same goals, whether one person manages all the YNAB details or each person shares equally in that task.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Follow Ben and Ernie on the Budget Nerds Podcast
Apple: https://podcasts.apple.com/us/podcast/budget-nerds/id1606054345
Spotify: https://open.spotify.com/show/0H1u8pqYrvz6zj6noHbkB3?si=fc181a82b8d540a6
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 17, 2023
Managing Vacation Transactions
It's peak vacation season, so Ben and Ernie are comparing notes on handling the vacation budget in the moment. One the one hand, you want vacation to be vacation -- a time to unplug, be in the present moment, engaged with your family and friends. On the other hand, waiting until the end of the trip to categorize all your transactions can be overwhelming! Ben and Ernie share their approach to managing the transaction log without going crazy or burying your face in your phone the whole trip.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Follow Ben and Ernie on the Budget Nerds Podcast
Apple: https://podcasts.apple.com/us/podcast/budget-nerds/id1606054345
Spotify: https://open.spotify.com/show/0H1u8pqYrvz6zj6noHbkB3?si=fc181a82b8d540a6
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 10, 2023
How Often Should You Reconcile?
Reconcile your budget, that is! Ben and Ernie discuss their budget reconciliation habits, and make a case for why you should reconcile every day, especially if you are new to YNAB.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Follow Ben and Ernie on the Budget Nerds Podcast
Apple: https://podcasts.apple.com/us/podcast/budget-nerds/id1606054345
Spotify: https://open.spotify.com/show/0H1u8pqYrvz6zj6noHbkB3?si=fc181a82b8d540a6
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 3, 2023
Leaving Margin for Life
Ben and Ernie share a tip for making the budget feels a little less constricting -- leave a little margin in your categories! This is not an emergency fund, Ben says, but a way to give yourself some flexibility and fun.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Follow Ben and Ernie on the Budget Nerds Podcast
Apple: https://podcasts.apple.com/us/podcast/budget-nerds/id1606054345
Spotify: https://open.spotify.com/show/0H1u8pqYrvz6zj6noHbkB3?si=fc181a82b8d540a6
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jun 26, 2023
One Easy Trick to Boost Your Retirement Savings
We all know we need to save for retirement, but it can feel a long ways away. Savings can always wait while you deal with something more urgent, it seems, until all of a sudden retirement starts staring you in the face!
The most important factors in saving for retirement are starting early, and consistency, Ernie reminds us. How do you create consistency? There's an easy trick. If you're not yet, start contributing something -- anything! -- to your retirement accounts now. That amount will be some percentage of your income. Each quarter, increase that percentage of your income you are contributing by 1%. It doesn't seem like much, but it adds up fast! And most importantly, it's a slow enough change that it gives you time to adjust. As one YNAB listener writes in, it doesn't even feel like you're missing the extra money, while at the same time it's encouraging to see your retirement accounts going up.
We want to hear your YNAB stories! Please take a moment to tell us about your bigges…
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Jun 19, 2023
This Question Doesn't Have to Be Scary: Can I Afford This?
Ben and Ernie ask a question that strikes fear into those who don't budget (and sometimes to those who do): can I afford this? At least for YNAB'ers, this question isn't about whether you have the dollars and cents in your bank account to make the purchase, it's about your emotion, how you feel about buying the thing in question versus something else. As Ben explains, it's about opportunity cost, and luckily YNAB is very good at helping you understand opportunity costs with your money.
We want to hear your YNAB stories! Please take a moment to tell us about your biggest budgeting wins here:
https://youneedabudget.typeform.com/ynaber-stories
Follow Ben and Ernie on the Budget Nerds Podcast
Apple: https://podcasts.apple.com/us/podcast/budget-nerds/id1606054345
Spotify: https://open.spotify.com/show/0H1u8pqYrvz6zj6noHbkB3?si=fc181a82b8d540a6
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jun 12, 2023
A Different Take on Credit Cards
Ben and Ernie tackle the big credit card question (should you use them?) that Jesse has been wrestling with this year, with a slightly different take. Ben, of course, does not use credit cards as he shared with Jesse in episode #621. Ernie, on the other hand, has done it both ways, cutting up the credit card during times of his life where he was busy paying down debt, and now using it judiciously to accrue travel points that he can use on family vacations.
We want to hear your YNAB stories! Please take a moment to tell us about your biggest budgeting wins here:
https://youneedabudget.typeform.com/ynaber-stories
Follow Ben and Ernie on the Budget Nerds Podcast
Apple: https://podcasts.apple.com/us/podcast/budget-nerds/id1606054345
Spotify: https://open.spotify.com/show/0H1u8pqYrvz6zj6noHbkB3?si=fc181a82b8d540a6
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jun 5, 2023
Paying Off Debt the Sustainable Way
Jesse is taking a break for the summer, so Ben and Ernie (from the Budget Nerds podcast) are stepping in to guest host. Today, they talk about paying off debt... sustainably! So many personal finance resources urge people to pay off debt as soon as they can, and white knuckle their way toward financial freedom. While this can work for short periods of time, for many people paying off debt is a marathon, not a sprint, and white-knuckling has many pitfalls.
For one, when you're throwing every dollar and focusing all of your energy on paying off debt, it's easy to ignore Rule Two -- embracing your true expenses. If you get hit by an unplanned expense and you've thrown all your extra cash at your debt, then you may find yourself reaching for the credit card... and thereby accruing more debt. So, Ben and Ernie urge you to take things a little slower. Work the Four Rules, budget for true expenses, and have some cash reserves set aside, so that your journey to pay off debt doesn't start goin…
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May 29, 2023
Rule Four Reviewed
Beef is pretty good aged, but you know what's even better? Aging your money! That's Rule Four -- aging your money. Basically, increase the amount of time between when you earn the money and when you spend it. By following Rule One through Three, you can accumulate cash in your categories and pre-fund future expenses, thereby increasing your options.
When you have a lot of cash available, you have options for handling unexpected expenses, taking advantages of opportunities (which require money/investment), or simply changing your strategy. It's easy to re-assign dollars that are already in categories, but you have to have the dollars there in the first place. That's the essence of aging your money.
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May 22, 2023
Rule Three Reviewed
Be like the reed... blowing in the wind. It's not a haiku, Jesse is talking about Rule Three -- rolling with the punches. Life happens, and unexpected things are going to pop up that could break the budget. When you roll with the punches however, you check the budget, find the money for the unexpected expense in another category, and fund the expense by moving money from that category.
The key here is that you check the budget and find the money first! You don't simply spend the money and try to figure it out later.
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Got a question for Jesse? Send him an email:
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May 15, 2023
Rule Two Reviewed
It's back to basics time! Rule Two in the YNAB method is "embrace your future expenses." In short, think about the things you will have to buy or pay for in the future, and act on them NOW. Car going to need new tires in six months? Don't wait till they need replacing to budget for them, start budgeting now! Save a portion of the replacement cost each month until you've reached the replacement cost for those tires.
Really Rule Two is Rule One again, give every dollar a job. You're giving your dollars jobs today, to pay for expenses tomorrow.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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May 8, 2023
Rule One Reviewed
Jesse is going back to basics and reviewing the Four Rules, which are the foundation of YNAB. The first rule: give every dollar a job. What does that mean exactly? YNAB wants you to live and spend according to your values and priorities -- the things that are most important to you. In order to do that, you first have to start giving your dollars jobs that are in line with your priorities. That's the heart of Rule One.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
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May 1, 2023
A Mother's Method for Living Well (Contest Announcement!)
At a recent YNAB all-hands meeting, Sarah gave a personal presentation about her "Mama's Method," rules her mother gave her for living well. Sarah told them in YNAB Four Rules style:
* Give every moment a job
* Embrace yourself and others
* Roll with it
* Age is just a number (play a lot!)
In honor of Sarah's presentation, and upcoming Mother's Day, YNAB wants to hear from you! YNAB is running a contest between now and May 11th. The contest is simple: share your mother's method to living well, in the style of the YNAB Four Rules if you can. One person will be chosen at random, and the winner will receive a $100 VISA gift card!
To enter the contest, write a post with your mother's rules to live by, told in YNAB "four rules" style, on any of YNAB's social media channels -- Facebook, Instagram, Twitter, or Tik Tok. Make sure to tag YNAB, and include the hashtag #fourrulestoliveby in your post. Winner will be announced on May 11th, 2023!
Facebook: @iYNAB
Instagram: @youneedabu…
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Apr 24, 2023
What's In Your Financial Shovel of Dirt?
Jesse shares a story about growing sweet potatoes and shoveling dirt... lots and lots of dirt. There's a metaphor here about budgeting too. It's work, and sometimes takes a long time to pay off. But steady, sustainable work day after day yields big results!
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Apr 17, 2023
Giving Future You A Bit More Negotiation Ammo
Jesse shares a trick for improving your Rule Two planning (Embrace Your True Expenses), and better prepare for the next unexpected expense.
Jesse suggests pulling your last six months of bank statements, and quickly scanning them for large expenditures. Look at the number of digits, and flag the transactions that have a large number of digits (to you). This should only take a few minutes. Note the payee. This exercise is the first place to look when planning for future unexpected expenses. Did you get in a fender bender and end up with a $1,000 bill from the body shop? Did you hire a plumber to fix some leaking pipes in your basement? These are possible future expenses you can use Rule Two to plan for.
Now, hopefully you won't be getting into fender benders on a regular basis! But that auto shop expense might trigger you to think about upcoming regular car maintenance that you haven't yet budgeted for. Likewise, owning a house means regular maintenance, so at some point you're probab…
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Apr 10, 2023
Paid In Full, But Always in Debt
Jesse continues his rant about exploration of credit card use, observing that "paid in full" users are, technically, always in debt. Paid in full users are people who have the cash at any moment to pay off their credit card balance in full, but choose to pay off the balance before the next billing cycle. While they do pay off the balance regularly (monthly, or weekly, maybe even daily), and thus never incur interest, they are in debt until the moment they pay off the balance. And of course, after they have paid off the balance, they are again in debt as soon as they charge the next expense on their credit card.
Does the distinction matter though? Jesse ponders the question, and gives an update on his own experiment of only using a debit card for expenses in 2023.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Apr 3, 2023
Jesse Chats with a Guy Who Has Never Used a Credit Card
Jesse talks with a man who has never used a credit card -- YNAB's own Ben Barlowe, who you may also recognize from the Budget Nerds podcast. Ben is 34 years old, has four children, a house (purchase with a mortgage), and a busy life! Believe it or not, he has been able to navigate life without ever having used a credit card.
Ben discusses the reasoning behind his personal decision to not use credit cards, how he obtained a mortgage with no credit score, and how he manages day to day expenses such as renting cars without a credit card.
Credit cards are ubiquitous these days, but that doesn't mean you HAVE to use one. Ben demonstrates that it's possible to have a robust, well-planned financial life without credit!
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Mar 27, 2023
Ask Jesse: Talk Slower, Pay Down Debt Faster
It's time for another round of Ask Jesse! Jesse fields questions from podcast listeners about how to manage multiple bank accounts, negative budgeting, and whether he can slow down his speech pattern (sorry Leslie!)
Find a YNAB Certified Coach:
https://www.ynab.com/coaching-directory/
Got a question for Jesse? Send him an email:
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Mar 20, 2023
Rule One and the Pursuit of Nothing
Jesse challenges the idea of constantly pursuing something financially. For many of us in the modern world, our default is to always be chasing something -- more things, more experiences, more retirement funds, more debt paid down. Some of these things are a net good, some... maybe not. Jesse reminds us that our financial life doesn't always have to be in pursuit of something. It's ok to just let your money support your life, and nothing more. Can you do that, just for a little while?
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Mar 13, 2023
Expensive Is a Lazy Word
When people say "that's too expensive," what do they mean really? That they can't afford it, that it costs too much for a certain group of people, that it costs too much on principle? Jesse relates Rule One to the word "expensive" and concludes that its meaning is too slippery to be a useful term for people following the Four Rules.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Mar 6, 2023
Ask Jesse: Travel Hacking, Credit Cards, and YNAB'er Experiences
In this installment of Ask Jesse, Jesse answers questions from podcast listeners about travel hacking and credit card and debit card fraud protection. He also reads an experience from one YNAB'er who switched from using credit cards to debit cards.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
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Feb 27, 2023
Rule One and DIY FTW
Jesse analyzes a recent situation in which he was planning to build something in his wood shop, when a friend remarked that he could buy the same thing a lot cheaper. While we talk about money all the time in YNAB, and frequently equate money with time, and discuss the tradeoffs of buying this thing versus that thing -- Jesse reminds us that we don't have to think of everything in terms of economic decisions. Sometimes you give dollars a job (Rule One) which is for sheer enjoyment.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
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Feb 20, 2023
Debit vs Credit Card Smackdown (and a Rant)
In response to episode #603 "You Spend More Money with Credit Cards," many listeners wrote Jesse to pick a bone with his claim that the debit card was a superior way to pay for things. The arguments usually boil down to the assertion that credit cards have better purchase protection and fraud prevention compared to debit cards. Jesse addresses these concerns, and more, on today's episode.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Feb 13, 2023
Ask Jesse: Save for Cars or Pay Down Mortgage, Debt Consolidation, and How Do You Know When to Spend?
Jesse answers questions from the YNAB mailbag, including whether a couple should save for new cars to replace aging vehicles, or pay down the mortgage faster, whether debt consolidation is a good idea, and how exactly do you know when it's ok to spend money?
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Feb 6, 2023
One Thing That Tells You You're Doing Money Right
Jesse shares one key indicator that you are budgeting and doing your money right.
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Jan 30, 2023
A Major Downside to Not Having Money Stress
Not having money stress is a GREAT feeling to have. But a YNAB employee, Katie, pointed out a downside to it -- people assume you make more money than you really do. Because who else would have no money stress except people who are rolling it in?
Got a question for Jesse? Send him an email:
askjesse@ynab.com
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Jan 23, 2023
Ask Jesse: Doubling Income, Real Estate, Debit Card Fraud Prevention
Jesse fields more listener questions today, including what you should do when you double your income (teaser: there's really not a wrong answer as long as it's saving!), how to budget for real estate investments, and whether debit cards have sufficient fraud protection to use over credit cards.
Please keep your questions coming! Send them to:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jan 16, 2023
Ask Jesse: More on Credit Cards, Tracking 401k in YNAB, and Paying Off Student Loans
Jesse answers listener questions about tracking 401k deposits in YNAB and how to strategize paying off student loans. Jesse shares his evolving thoughts about credit cards, and why the Mecham household will only use a single debit card for expenses in 2023.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jan 9, 2023
Now Burn It All Down Again
Last week Jesse urged YNAB'ers not to make any sudden or drastic moves to their budget. But you know it's the beginning of the year, and that can only mean one thing! It's time for a budget burndown.
Every year Jesse burns down his budget... er, plan, and examines every single assumption built into it. Do we really need to own a house? What if we lived in an RV for awhile? Do we need two cars? What if we sold one? Etc, etc. The point of this exercise is to question everything, and in the process, better understand what your non-negotiables are. In most cases, you'll likely put most of the categories you had back into your plan. But perhaps the burn down process helps you identify a couple areas that don't really serve you anymore, or dollars that could be more useful doing a different job.
So, get ready to burn it down!
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jan 2, 2023
Don't Make Big Changes, People!
Happy New Year! We hope 2023 is a fruitful and productive year, financially and otherwise, for everyone. It's that time of year again, the time for resolutions, big goals, and new plans. Jesse urges you to pump the brakes, however, and DO NOT make big changes to your budget. Not right now. Just iterate on what you've been doing, and try to do a little bit better than last year.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Dec 26, 2022
A Strategy for the Holidays in 2023
We hope you had a Merry Christmas and very happy holiday! If you didn't use YNAB to plan for this year's Christmas bill, that's OK, you can start now for next year! In January start saving for Christmas 2023 by putting aside one twelfth of the Christmas budget each month.
Jesse also has another exercise for you. Write a little note to yourself about what went well this Christmas, and what you want to do differently next time. Then set a reminder for that note to open back up in October 2023. You'll have forgotten by then, and you'll have plenty of time to prepare to make the next Christmas even better than the last.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Dec 19, 2022
Every Gift I'm Giving Julie, Forever
Jesse shares some of the gifts he's given his wife, Julie, over the years, and why every year from now on the gifts will be made, not bought.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Dec 12, 2022
Ask Jesse: Tracking 401k in YNAB, Early Retirement Budgeting, Advisors, and More
Jesse answers a grab-bag of questions from listeners, including whether it's a good idea to track 401k investments in YNAB (it's not), how to budget for early retirement, good books for learning how to to invest, and more.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Dec 5, 2022
You Spend More Money with Credit Cards
It's a fact, you do. We know this because banks LOVE credit cards, and they're incentives for using credit cards rely on the fact that many people spend more money on credit than they would otherwise. Jesse meditates on the nature of credit card fees, incentives, and the game that banks play to get people to spend on credit.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 28, 2022
The Different Tenses of Money
Jesse riffs on the idea that money has different "tenses," that is, money's purpose is to be spent, and spending can happen in the past, present, or future. Debt is past spending, savings is future spending, and so on. It's an interesting idea, one that might help you better visualize the purpose of money in your own life, and how it aligns with your priorities.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 21, 2022
Rule One and Gratitude
For everyone listening in the United States, Happy Thanksgiving! Jesse encourages us this week to step back and make a list of everything we are thankful for. Taking a moment to express your gratitude for the things you have and the things that are going well in your life is not only good for your soul, it's good for your budget too! We tend to spend so much of our time in the weeds of categories and transactions, that a little time looking at the big picture and being grateful can help us get back in touch with our priorities. Is what you have enough, is it sufficient?
As Jesse says, you really can't be too grateful!
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 14, 2022
What's the Most Expensive Thing You've Budgeted For? YNABers Share
Jesse shares results from a recent survey of YNABers asking: "what's the biggest thing you've saved for with YNAB?" Vacations, cars, houses, college... there are some big line items indeed!
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 7, 2022
Ask Jesse: What's the Most Important Metric?
YNAB'er Allison asks: of all the metrics in the YNAB software, which is the most important one to track? To which Jesse answers... none of them! Jesse prefers to track net worth over time, which is not captured in YNAB since it's a calculation of the value of what you own minus what you owe. As Jesse explains, though, if you are working the Four Rules well, then you will create more opportunties to save and invest money and pay off debt, all of which will increase your net worth.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Oct 31, 2022
The Last $300
Once you've started working the Four Rules, you start to realize that most of your money is kind of... spoken for. You need to pay the rent, the utlities, insurance, and so on. When you get through the list of non-negotiables, there's often just a few hundred dollars each month to play around with in the budget, and those dollars are where the real gains are made. Like David Bach's "latte factor," the small optional expenses we accumulate without budgeting properly can add up to big savings over a surprisingly short amount of time.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Oct 24, 2022
When Is Your Age of Money Enough?
Killian, a YNAB 4 user, asks about Rule Four and the "age of money" metric. How long should you age your money before you can relax a bit and not budget so stringently?
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Oct 17, 2022
Rule Three Happens BEFORE Spending, Not After
Jesse drops a reminder that Rule Three, when properly implemented, happens before you spend the money on that unexpected expense -- not after!
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Oct 10, 2022
EP 18 Money Stories: Surviving Financial Abuse with Dr. Kerry Roarke
Jesse talks with domestic abuse survivor and now advocate, Dr. Kerry Roarke. Despite a successful career in pharmacy, Kerry found herself stuck in an increasingly abusive marriage, with very little say or power over how she spent or saved money. Since leaving that relationship and righting her financial ship, Kerry has volunteered to help other women find shelter and safety from domestic abuse, and identify the red flags that signal abusive relationships.
Without access to money, women have few resources to leave an abusive relationship, find shelter and food, and obtain legal help. There are many agencies, charities, and non-profit organizations across the country that can provide resources, but finding them can be a challenge. So, Kerry helped create the Safe House app, which compiles all the local resources available to people in a single place.
You can find the app, and other resources, at https://yoursaferplace.org
Got a question for Jesse? Send him an email at:
askjesse@ynab.…
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Oct 3, 2022
Ask Jesse: Is All Money Just Savings?
A listener, Tom, writes into the show to express some confusion over what constitutes "savings" in a budget following the YNAB method. During a call with his bank to discuss refinancing, Tom was asked how much savings he had on hand, a question which dumbfounded him. Technically, everything in the budget is savings, he reasoned, since every dollar had been subjected to Rule One, and was sitting in categories to be spent sooner or later. So... is all money just savings in that case?
Jesse offers a saying from one of the YNAB teachers, that all savings is really just... spending! Money exists to be spent -- sometimes now, sometimes tomorrow, and sometimes years in the future. But money that is not spent eventually is useless, so in that sense all "savings" is really just money waiting to be spent.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 26, 2022
Budgeting for 8 Weeks Abroad with Chrissy Sebald
Jesse invites YNAB Senior Support Manager Chrissy Sebald to the podcast to talk about her budgeting super skill -- saving for frequent travel with her family of six! And not just travel in and around the States. Chrissy has used YNAB to help her budget for two months of travel abroad with her family, on a middle class income.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 19, 2022
EP 17 Money Stories: Living Debt Free in Manhattan, Budgeting Wisdom from Mom, and More with Christopher J. Campbell
In today's installment of Money Stories, Jesse talks with YNAB Ambassador Christopher Campbell, a 33-year old marketing director living in Portland, ME. Christopher learned the value of budgeting from an early age, when his mother taught him and his siblings how to put aside money for things they wanted. She led by example, too, always setting aside money for Christmas and birthdays, for emergencies or unexpected expenses, on a middle class income.
Looking to build on the budgeting habits instilled by his mom, Christopher began using YNAB 4 in 2014, and fell in love with both the simplicity of the method and the precision of the software. Using YNAB, Christopher has been able to achieve many notable financial goals -- paying off his student loans and becoming debt-free while living in notoriously expensive Manhattan, purchasing a motorcycle he had wanted since he was a kid, and helping others improve their financial wellbeing through personal coaching and social media. Christopher als…
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Sep 12, 2022
Simple Investing with Jeremy Schneider of Personal Finance Club
Jesse invites entrepreneur and avid YNAB'er Jeremy Schneider on to the show to help de-mystify investing for YNAB'ers looking to get started. Jeremy built the successful internet startup RentLinx, sold the company in 2015, and retired a couple years after at the age of 36. Jeremy then spent two years playing video games, traveling, coaching beach volleyball, and learning about what to do with all of his money. When the pandemic hit, he needed something to fill his time, so he decided to build a resource for other people to learn the fundamentals of investing and how to build their own nest egg.
Jeremy's pretty clear that there's no magic to good investment strategy. To build wealth you need to spend less, save more, and then invest using a simple, reliable strategy, such as investing in broad market index funds. He recommends using YNAB to help with the spending less money part, then teaches the rest in his Personal Finance Club.
Jeremy has a FREE 60-minute investing basics course as…
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Sep 5, 2022
Breaking Down Student Loan Forgiveness with Ben the Dollar Scholar
Jesse chats with Ben, a YNAB employee and "The Dollar Scholar" on TikTok, where he educates college students and grads on the intricacies of student loans. Ben walks through the recently announced student loan forgiveness program, how much debt can be forgiven for students or graduates with Pell grants and with traditional Federal student loans, and some of the forthcoming changes to income-based repayment plans.
Ben also reminds us that not all the details of the plan have been worked out yet, and there are still open questions regarding the legality of the program, as well as potential income tax implications at the state level. Consequently, he reminds us, don't count on those forgiveness funds until they actually hit your bank account!
Follow Ben the Dollar Scholar on TikTok:
https://www.tiktok.com/@thedollarscholar?lang=en
Did you YNAB is FREE for college students? Sign up here:
https://www.youneedabudget.com/college/
Got a question for Jesse? Send him an email:
askjesse@yn…
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Aug 29, 2022
Nail Back to School with the Four Rules
School is back in session, and it's a good time to tune up the budget. Want to really nail it this year? Go back to the Four Rules, Jesse says, and simplify. Now is the time to close those extra bank accounts, the multiple credit cards, the three different brokerage accounts. Budgeting is all about helping you make better decisions, after all, and simplifying helps you do that too.
Did you YNAB is FREE for college students? Sign up here:
https://www.youneedabudget.com/college/
Got a question for Jesse? Send him an email:
askjesse@ynab.com
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Aug 22, 2022
Ask Jesse: What Should You Do with a Life-changing Windfall?
A listener writes the show to ask: what should he and his family do with a life-changing windfall? The listener has a mortgage, and a HELOC, and some savings goals such as saving for his kids' college education. The windfall amount is enough to payoff all these things, and in addition he has recently earned a large raise. While the windfall is a huge gift, he wants to be calm, reasonable, and disciplined with allocating it towards the family's financial goals. Jesse helps walk through the problem, and identify some emotionally driven questions one should ask in this situation.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 15, 2022
Lessons from the Bookshelf: What Jesse Has Been Reading Lately
Jesse shares a few book titles he has been working through lately, and how the lessons from Jocko's Exteme Ownership have been working their way through the Mecham household and YNAB. It's not all business books this time! Topics range from leadership to the history of money to science fiction.
Extreme Ownership by Jocko Willink
https://www.amazon.com/Extreme-Ownership-U-S-Navy-SEALs-ebook/dp/B0739PYQSS/ref=sr_1_1?keywords=jocko+willink+extreme+ownership&qid=1660506517&s=books&sprefix=jocko+willink+ex%2Cstripbooks%2C69&sr=1-1
Debrief to Win by Robert “Cujo” Teschner
https://www.amazon.com/gp/product/1732929815/ref=dbs_a_def_rwt_bibl_vppi_i0
Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies by Nik Bhatia
https://www.amazon.com/Layered-Money-Dollars-Bitcoin-Currencies-ebook/dp/B08T7T47HC/ref=sr_1_1?crid=ZYVYV927YTEG&keywords=layered+money&qid=1660506593&s=books&sprefix=layered+money%2Cstripbooks%2C60&sr=1-1
Dune by Frank Herbert
https://w…
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Aug 8, 2022
Ask Jesse: So You Just Started Your First Real Job...
A listener writes Jesse to ask what he should do with his first real job and first real paycheck -- pay off debt, or start investing? This is a popular question with a few answers, and in Jesse's mind, the answers are all valid! What matters most is where you picture your life five years from now, whether you are happy with that picture, and whether your current trajectory is going to get you there.
Some people get a lot of satisfaction from having a big nest egg, even while carrying debt. Others prize the freedom they feel from not having debt more than the size of their investment accounts. And of course, some people prefer to be somewhere in between.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 1, 2022
That Magical Moment (When You Really Want Something)
There's a moment that happens when you run across something you really want -- it's like an itch that wants you to whip out the credit card and scratch it! In these moments, we're probably not very clear on our priorities and Rule One, so Jesse reminds us that the budget is the thing that helps us answer the question: can I afford this? Am I going to be OK after I buy this? And the budget answers those questions for you by bringing clarity to your priorities and the jobs you have assigned to your dollars.
Got a question for Jesse? Send him an email:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 25, 2022
Ask Jesse: Kids, Allowances, and Cringey Purchases
Hillary writes into the show to ask: when you started giving an allowance to your kids, what things did they buy that made you cringe? Hillary is starting the YNAB allowance strategy for her kids, aged 16, 15, and 12, and is wondering how to teach them to spend the money responsibly. Jesse offers his experiences with his own kids, and some of the money lessons he has watched them learn in their own life.
Want to ask Jesse a question? Send him an email at:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 18, 2022
Budgeting for the Nomadic Life
Jesse chats with a number of YNAB employees who are living, or working towards living, a "nomadic" life -- living and working across the US in a variety of places throughout the year. While this type of lifestyle can create some amazing freedoms (Megan, for instance, arranges her work schedule so that she can spend her mornings skiing during the winter), it also requires a lot of careful planning! That's where YNAB comes in.
Maintaining a trailer, motorhome, or RV and handling the costs of living in new places involves lots of planning around true expenses and rolling with the punches. The nomadic ladies of YNAB share their experiences shifting to an unconventional lifestyle, and how the budgeting lessons they learned from the Four Rules have helped them make it happen.
Bringing budgeting into the workplace -- Financial Wellness by YNAB.
https://www.youneedabudget.com/wellness/
Email Jesse your stories about YNAB in the workplace:
askjesse@ynab.com
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Jul 11, 2022
Ask Jesse: What's the Deal with Whole Life Insurance?
A listener writes into the show to ask about whole life insurance and whether it's worth it for a young couple in their 30's. As always, it depends! Whole life policies typically come with big fees, which of course insurance companies and salesmen like. Jesse points out that the policies can work for some people in high marginal tax brackets, however the tax savings must be carefully weighed against the earnings you could have made by simply investing in low-cost, diversified index funds and sidestepping the high fees of whole life policies.
Send Jesse an email at:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 4, 2022
Debt and Pay Later Plans: An Independence Day Rant
Happy Fourth of July to the American YNAB'ers out there!
Following Apple's recent announcement of their "Apple Pay Later" plan, in which customers can split the cost of purchases over multiple installments using Apple Pay, Jesse rants about the state of financing among successful companies. As he has noted before, nearly all successful companies eventually become finance companies, and Apple is no exception.
Buy now, pay later (BNPL) plans may be good for Apple's bottom line, but they are bad news for consumers. Research has discovered that people tend to buy 40% more with BNPL plans than they would have with cash. Then of course there is the interest and penalties that come with missed payments. Jesse has a bone to pick with this...
Send Jesse an email at:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jun 27, 2022
What If Your Coworkers Weren't Stressed About Money?
It's no surprise, but employees carry their money stress into work with them. And that stress not only affects their performance at work, it affects their happiness and, by extension, increases turnover.
Jesse shares results from a survey of over 3,000 YNAB'ers in the US who work full-time jobs in a variety of age ranges and income levels. YNAB found that only 24% of YNAB users experienced financial distress over the past two years of pandemic-fueled chaos -- pretty amazing compared to a broader survey of American workers by PWC which reported 63% experiencing financial distress. Another interesting stat: 93% of YNAB'ers reported being able to cover a $1,000 emergency expense, compared to just 13% of the PWC survey respondents. YNAB is clearly a powerful tool for financial stability!
Now, YNAB is helping to bring budgeting into the workplace with Financial Wellness by YNAB.
https://www.youneedabudget.com/wellness/
Email Jesse your stories about YNAB in the workplace:
askjesse@ynab…
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Jun 20, 2022
Ask Jesse: How Do You Move On... From Budgeting?
Britney writes into the show to ask, as a long time fan and follower of various personal finance resources, what should she do now that her family's budget is pretty much dialed in? How can she avoid constantly looking at the app to check that the budget is still working?
Jesse reminds us that budgeting should, eventually, become boring for everyone. It may not be the goal, but it's at least a hallmark of a succesful budgeting practice! After that, maybe it's time to find a new hobby...
Antifragile: Things That Gain from Disorder by Nassim Taleb
https://www.amazon.com/Antifragile-Things-That-Disorder-Incerto/dp/0812979680
Send Jesse an email at:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jun 13, 2022
Mid-Year Check In: Are You Still Clear On Things?
It's right about the mid-point of the year... how's your budget doing? Are you still clear on your priorities, and what jobs your dollars should be doing for you? If you've found yourself Rule Three'ing everything and rolling with the punches month after month, perhaps it is time to revisit your goals, reevaluate your priorities, and revise your budget accordingly.
Send Jesse an email at:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jun 6, 2022
Ask Jesse: What Do I Do With My Investments Now?
A listener writes into the show -- what should she do with her investments in this market? Each week she is seeing the value of her portfolio go down, and she is losing as much value as what she puts in each month. Ouch! Jesse reminds us not to panic, and to go back to your written investment plan (you have one of those, right?).
Why are you investing in the first place? What is your time horizon? Do you think the economy will grow in the (long-term) future? If yes -- and this has been historically true over a long time horizon -- then a broad market index will also grow over the long run, and sticking to your investment plan is the thing to do.
Jesse has another recommendation: look at the number of shares you own, not the value of those shares on paper. If your number of shares is going up, then your portfolio is still growing by an important metric!
Investing books mentioned in the show:
* The Little Book of Common Sense Investing by Jack Bogle
* A Random Walk Down Wall St…
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May 30, 2022
Revisiting a Hot Take on Index Investing
On a recent Budget Nerds episode, Jesse threw out a hot take that index investing isn't all it's cracked up to be. Jocelyn wrote into the show to ask... why exactly? Jesse explains himself in today's episode.
Investing Books mentioned in the show:
* The Little Book of Common Sense Investing by Jack Bogle
* A Random Walk Down Wall Street by Burton Malkiel
* The Bogleheads Guide to Investing
* The Four Pillars of Investing by Bernstein
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May 23, 2022
How to Budget When Everything Is Expensive
As inflation continues to rear it's ugly head in 2022, prices are going up and up, meaning budgets are getting stretched thin. Inflation is essentially another form of scarcity, Jesse points out, albeit involuntary scarcity. Jesse reminds us that scarcity is what drives us to be creative with the budget, and get more clear about our values.
Budgeting is also an active process, so this time of inflation is a good time to dig deeper into every category, find the things that are auto-pilot and re-evaluate whether they shoud continue to be so. By exercising your Four Rules muscles, you can stay positive and confident about your financial strategy even when economic prospects are alarming.
Send Jesse an email at:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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May 16, 2022
Ask Jesse: How Should You Track Vacation Spending?
A listener writes into the show to ask: how should you track vacation spending? Vacation is a time to relax and let loose a little, but the listener wants to make sure he is pacing the family's expenses during the trip so he doesn't go overbudget.
Jesse offers a few different options, including sophisticated use of categories to track the vacation spend without creating too much complexity.
Have a question for Jesse? Send him an email at:
askjesse@ynab.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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May 9, 2022
A Financial Roadmap for Marriage and Financial Separation with Attorneys Kelly Frawley and Emily Pollock
Kelly Frawley and Emily Pollock are attorneys specializing in matrimonial and family law, and regularly contribute to Forbes on issues related to divorce and business. In today's episode, they discuss the important questions you should be asking before marriage about money, finances, and expectations about the future. And, in the event of divorce, some of the important things you should be doing and asking during the process.
Both Kelly and Emily agree that the most important thing couples can do before and during their marriage is communicate. Whether it's about debt and how you intend to pay it off, expectations about lifestyle and living expenses, plans for retirement -- if you keep communication frequent and open, then you will feel more certainty and security about your money.
Kelly and Emily on Forbes:
https://www.forbes.com/sites/frawleypollock/?sh=1c25b3d6eb04
Kelly Frawley: https://www.kasowitz.com/people/kelly-a-frawley
Emily Pollock:
https://www.kasowitz.com/people/all…
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May 2, 2022
Better Budgeting... and a Rant about Banks
Struggling with YNAB? That's OK, you're not alone, and Jesse has a few things to look at and make sure you are truly following the Four Rules. And along the way, Jesse has a bone to pick about banks and their data export practices!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Apr 25, 2022
Ask Jesse: First-Time Home Buyer in a Crazy Market
A first-time house shopper wrote into the show for advice on how to approach the crazy, red hot housing market we are currently in. The writer wants to buy her first home, but is unsure whether she will have enough money to put down as house prices rise at a rapid pace. Jesse reminds us that, most importantly, cash equals options, and it's never a bad thing to have more cash on hand. He advises her to become an expert on her local real estate market, and really think about why she wants to buy, and what exactly she needs from a home before taking the plunge into home ownership.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Apr 18, 2022
Savings With a Purpose
Jesse shares some case studies from the Mecham household, where he has taught his kids to budget their savings the YNAB way, giving those savings dollars a job. The kicker? Their savings sit in the same checking account as their fun money. With practice and the four rules, however, they have developed the discipline to spend only what they have budgeted for each purpose.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Apr 11, 2022
EP16 Money Stories: First Responders and Finance, $78k Debt Paid off in 28 Months
Jesse welcomes Jason and Katie Hoschouer to the podcast. Together they paid off $78,000 of debt in a mere 28 months, an amazing burst of focused saving and budgeting!
Jason is a retired police officer with 23-years experience in the force, now turned financial coach. He helps other first responders get their budgets in order, pay off debt, and build savings so they don't have to live paycheck to paycheck and work tons of overtime to make ends meet. He also hosts a podcast about finance for first responders, Badges & Budgets.
GPS Financial Coaching
https://www.gpsfinancialcoaching.com
Badges & Budgets Podcast
Apple: https://podcasts.apple.com/us/podcast/badges-budgets/id1611201890
Spotify: https://open.spotify.com/show/4vcWckWJibgAaRSyY5o8bu?si=15e96a154eaf44d7
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Apr 4, 2022
Meet Todd: The CEO Behind YNAB
Jesse invites the CEO of YNAB, Todd Curtis, to the show to discuss the anatomy of the company, the collaborative philosophy behind the work done by the various teams and functions, and some of the previous work and experiences that have shaped Todd's attitudes about operations and business culture.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Mar 28, 2022
EP15 Money Stories: Unconventional Job? No Problem. A Lifetime of Budgeting Wisdom from Nina Clark
Nina Clark grew up in a large family tight on money, but with a mother who was very good at budgeting and stretching a dollar. Nevertheless, she wasn't taught anything about money growing up, so she learned her money lessons the hard way: overdrafting her checking account and racking up debt at a young age. Things got more complicated when she went through a divorce and became a single mother. Ever determined and positive, Nina regained her financial footing and became a seasoned budgeter with a little help from YNAB.
Nina's story is also unique in that she's never worked conventional jobs, and never made much money, so she had to budget carefully to pay off her debts. While working various jobs, she started a bookkeeping service to supplement her income, throw extra cash at her debt each time she landed a new client. Nowadays, Nina's budget is helping her save for retirement, travel, and help her daughter travel the world as well.
Sign up for a free 34-day trial of YNAB at www.youne…
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Mar 21, 2022
Ask Jesse All About Taxes
It's that time of year again, and April 15th looms! Taxes are due soon, and perhaps no other financial topic generates as much confusion and as many questions. To that end, Jesse answers questions about taxes from YNAB listeners who wrote into the show. As with any tax question, when in doubt it's always best to contact a tax professional!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Mar 14, 2022
So You Want to Renovate Your Home...
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Mar 7, 2022
15 vs 30 Year Mortgage: Which Is Actually Better?
Jesse compares the pros and cons of the 15 year vs the 30 year home mortgage. While there are plenty of online calculators out there that will spell out the difference in interest costs and amortization between the two, Jesse argues that perhaps the math isn't the most important factor. It's how you feel about paying off the mortgage earlier.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Feb 28, 2022
EP14 Money Stories: How Mackenzie Uses YNAB to Navigate College, Study Abroad, and Multiple Currencies
International student of mystery Mackenzie is financially wise beyond her years... all thanks to YNAB and embracing the four rules while a young college student. Since discovering YNAB Mackenzie has traveled throughout Europe, and has come up with some unique strategies for managing her budget in a variety of currencies: the British pound, the euro, and US dollars. She's also learned some lessons about careful budgeting living in some of the most expensive cities in the world, like London.
The most important thing for college students, she says, is to just get started with YNAB. Try just tracking your expenses for a month, and get some data about your spending habits. Then you can get a realistic picture of what a college budget should look like. You're always going to spend more on food than you think, she says, so your budget should reflect that. Secondly, be prepared to roll with the punches and go with the flow. Things change a lot from freshman to senior year -- work/study opport…
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Feb 21, 2022
Master Your Grocery Budget with Erin
Long-time YNAB team member Erin returns to the podcast to discuss strategies for managing your grocery budget. With prices on the rise, many people are tightening their budgets, and groceries are a common line item of concern. Erin offers tips for making grocery shopping simpler, avoiding unnecessary purchases, and making strategic "fun" food purchases (like frozen pizzas) for those days when you just don't feel like cooking.
As Erin reminds us, your family's grocery bill is personal! It's tempting to want to compare yourself to others, or to an average, but the best strategy is to start with where you are and find ways to adjust from there. Food is a very personal thing, and many factors play into the food choices people make (allergies/restrictions, location, busy lifestyle, food availability, etc), so keep your eyes on your own plate.
A few of Erin's favorite cooking and food-related YouTube channels:
* Frugal Fit Mom: https://www.youtube.com/c/FrugalFitMom
* See Mindy Mom: h…
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Feb 14, 2022
A Little Momentum Is All You Need
In honor of 2/22/2022, which is quickly approaching, YNAB is giving you the chance to gain a little extra momentum in your budget this year. YNAB is giving away $2,222 to a lucky podcast listener! But you have to follow a few rules to have a chance to win:
* On 2/22/2022, make a public post on Facebook, Instagram, Tik Tok or Twitter and tell us what you would do with $2,222.
* Tag YNAB on your social media platform of choice (tags listed below).
* Fill out the form on the YNAB website: https://www.youneedabudget.com/22-giveaway/
For those who don't do the social medias, you can email pr@ynab.com and include promotion/contest name in the subject line.
A complete explanation of the rules and terms and conditions can be found at: https://www.youneedabudget.com/22-giveaway/
YNAB social media tags
Instagram: @youneedabudget
TikTok: @youneedabudget
Twitter: @ynab
Facebook: @iYNAB
Good luck!
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Feb 7, 2022
Budget Nerds Is Now a Podcast!
Ben and Ernie return to the podcast to announce... their own podcast! Budget Nerds, the popular YouTube show for nerdy YNAB'ers, is launching a podcast on Wednesday, Feb 9th. Now you can take Ben, Ernie, and their nerdy budget adventures with you in the car, on the bus, maybe even in the kitchen!
As a bonus, Ben and Ernie share some "budget confessions" from Budget Nerds listeners.
Budget Nerds Podcast on Apple Podcasts https://podcasts.apple.com/us/podcast/budget-nerds/id1606054345
Spotify
https://open.spotify.com/show/0H1u8pqYrvz6zj6noHbkB3?si=34ab3b2a3435486b
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Jan 31, 2022
Ask Jesse: Planning for 3-Month Paychecks and Windfalls
YNAB Podcast listener Jenna emailed Jesse to share a recent win. Jenna's husband is about to finish law school, and thanks to YNAB and a lot of work and sacrifice he will graduate with NO student loan debt. First of all, BIG congratulations to you and your husband! Jesse shares some thoughts on this achievement as well as how to manage windfalls with a long-term mindset.
Join the More Money Challenge:
https://www.youneedabudget.com/moremoneychallenge/
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jan 24, 2022
Ask Jesse: How Do You Budget After Retirement?
Jesse answers a listener question about budgeting after retirement, in particular when you are living off your retirement savings and not yet drawing on Social Security.
Join the More Money Challenge:
https://www.youneedabudget.com/moremoneychallenge/
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jan 17, 2022
Real Estate 101 with Scott Trench (BiggerPockets)
Jesse chats with Scott Trench, CEO of BiggerPockets and a real estate investor, about how people can get started with real estate investing and build more wealth. Scott started his working career like many business college graduates, working at a large company as a financial analyst. Early on he stumbled across the Mr. Money Mustache blog, which advocates frugality and saving a large percentage of your income to achieve financial independence. From there, Scott became interested in using real estate to build his personal wealth and reach financial independence earlier in life.
Then, an encounter with the founder of the BiggerPockets website led Scott to a job with the company, and eventually, a chance to steer it as the CEO. Along the way Scott has learned a lot about real estate investing, and purchased and managed several properties. He now uses that knowledge to run the BiggerPockets website, which offers teaching and tools for people new to the real estate market.
Scott also ackn…
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Jan 10, 2022
The Organized Wallet with Ashley from TikTok
Jesse chats with Ashley, of TikTok fame (The Organized Wallet), about her journey finding the budgeting software through a chance blogpost to finally gaining control of her money after years of struggle. One of Ashley's keys to success is mindfulness, and she has some great exercises for improving your mindfulness around money.
A few years into her marriage, Ashley had a reckoning with money. Her husband Jeremy had just landed a big job opportunity, but it required him to travel frequently. To keep things running smoothly, Ashley needed to assume management of the budget, which Jeremy had been handling up until that point. Ashley tried hard, but was overwhelmed with the spreadsheets, the sheer number of bills and accounts, and missed a payment on one of the bills. Distraught, she ran across a blog post by A Cup of Jo about a budgeting software called You Need A Budget. She jumped in, and finally found a method to help her gain control of her money.
Ashley now has a lot of wisdom to s…
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Jan 3, 2022
Take the More Money Challenge with Veronica
Happy New Year! It's that time again -- time for planning, goal setting, and resolutions. If you're listening to this podcast, one of your New Year's resolutions might be to save more money. YNAB can help you with that!
YNAB team member Veronica is leading the way with the More Money Challenge, a 30-day challenge to help you kick start your savings in 2022. The rules are simple, but the challenge is hard. Luckily, there's a whole community of like-minded YNAB'ers that will be running the challenge together.
Join the More Money Challenge:
https://www.youneedabudget.com/moremoneychallenge/
Instagram: https://www.instagram.com/p/CYFRUQYBdMV/
TikTok: ynab.com/tiktok
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Dec 27, 2021
Budget Burndown Revisited: How to Set and Reach Your 2022 Financial Goals
It's that time of year again... time to burn it all down! The budget, that is. Every year Jesse "burns down" his budget, deleting all the categories and questioning whether the family could live without them. It's a fun thought experiment, especially with the typical must-have things.
Do you really need groceries every month? Of course you do, but what if you didn't do it? How would you survive? The point is not to figure out how to live without groceries, it's to ask the question and get your brain thinking about the deeply held assumptions you have about your consumption. At the end of the day, most of your categories will probably go back in. But hopefully, you'll rethink at least one thing in your budget, and find an opportunity to bring your spending more in line with your priorities in the New Year.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Dec 20, 2021
EP13 Money Stories: Jak and Chelsea Tackle ADHD... with YNAB
Millions of people struggle with ADHD, and it has financial ramifications -- decision fatigue, difficulty planning future purchases, and impulsive spending habits. Jak is a coach for "ADHD'ers," as she calls them, helping people form strategies for coping with emotional highs and lows and gain control over their money. An ADHD'er herself, she found the visual aspect of YNAB highly effective in keeping her engaged with both her current spending and her long-term plans (sinking funds).
Chelsea is an intuitive eating coach, and a fellow ADHD'er who engaged Jak for coaching. Together they discovered YNAB, and joined the podcast to share its helpfulness with others suffering from ADHD.
You can find more about Jak and Chelsea here:
Jak IG: @authenticallyadhd
Jak email: authenticallyadhd@gmail.com
YNAB and ADHD Workshop: www.authenticallyadhd.com/membership
Chelsea IG: @_chelseahester_
Chelsea website: www.chelseahester.com
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Dec 13, 2021
Celebrating Your Biggest Wins in 2021
We're nearly to the end of 2021, so Jesse took a moment to celebrate all of your biggest budgeting wins this year. To all the YNAB users who accomplished your goals and improved your financial standing -- no matter how big or how small -- congratulations! Here's to another year of budgeting wins, breaking the paycheck to paycheck cycle, and reduced stress.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Dec 6, 2021
Ask Jesse: How Do I Get Back on the Budget Bandwagon?
A listener asks -- what can I do to get my budget back on track after falling off the wagon?
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Dec 1, 2021
Meet the Chief of Side Hustles: Nick Loper
Jesse chats with the Chief Hustler of side hustles, Nick Loper. Nick has made a living out of side hustles, literally! A serial entrepreneur, Nick started a number of small businesses and side hustles before writing books about his experience and teaching others how to start their own side hustles. He is also an author, with a new book out: $1,000 100 Ways.
After helping thousands of people launch their own hustles, Nick probably has a way (or maybe 100 ways) you can start your own and bring home more money.
Side Hustle Nation Ideas
https://www.sidehustlenation.com/ideas
The Side Hustle Show
https://www.sidehustlenation.com/side-hustle-show/
$1,000 100 Ways by Nick Loper
https://www.amazon.com/gp/product/B099TQL3T7/ref=dbs_a_def_rwt_hsch_vapi_tpbk_p1_i0
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Nov 29, 2021
Ask Jesse: How to Launder Money... for Christmas?!
Jesse answers a reader trying to save for a surprise Christmas present for his significant other, but also trying to be faithful to his YNAB budget. Jesse shares a few tricks and some "creative accounting" within YNAB to help you save up for Christmas gifts without spoiling the surprise or the budget.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 24, 2021
Don't Afterpay Your Way Though the Holidays
Watch out credit cards, a new game is in town, and it's waiting to trip up your budget during the holiday season. We're talking about payment plans: sort of like a credit card, sort of not, but definitely loaded with high interest, fees, and confusing terms designed to trip up customers. YNAB has a team dedicated to helping budgeters navigate their way through payment plans using the YNAB software, and ultimately get out of them altogether. Sofia Hergenrader, a YNAB expert on payment plans, joins the podcast to talk about the pitfalls of this new breed of financial products.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 22, 2021
Ask Jesse: Living Right And It's Not Fair
Jesse answers a concerned parent emailing about their son's college experience. After raising a thoughtful and budget minded son who paid for his first semester of college by working a series of jobs during high school, the parent was dismayed by the extravagant lifestyle and expenses of his classmates. Expensive vacations, clothing, electronics -- many undergraduate students aren't living like students, and it can be frustrating for people embracing a life of responsible budgeting. Nevertheless, Jesse reminds the listener that the gifts of budgeting, responsibility, and good planning pay off in the long run far more than ephemeral luxuries.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 17, 2021
Adapt or Die
Of the Four Rules, is one more important than the others? Is there one rule to rule them all? In the past, Jesse has argued that rules 2-4 are essentially derivatives of Rule One. But perhaps there's another contender -- Rule Three: Roll with the Punches. Life is all about rolling with the punches, adapting to ever-changing stresses and forces in our environments. Budgeting, Jesse argues, is no different.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 15, 2021
Ask Jesse: Should I Sell My Crypto to Pay Off Debt?
Jesse answers an email from a listener wondering, should he sell his cryptocurrency in order to pay off his debt?
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 10, 2021
Growth After Trauma: Krista St. Germain from The Widowed Mom Podcast
Jesse chats with life coach and podcaster Krista St. Germain, a widowed mother who had to work through waves of grief after her husband unexpectedly passed away five years ago. Krista discusses her journey moving through grief, learning to rewrite the narratives of her guilt, and finding a path to grow after such a traumatic experience.
Krista helps other widowed mothers navigate their journey, and hosts a podcast discussing grief, Post Traumatic Growth, and more.
https://www.coachingwithkrista.com
https://www.coachingwithkrista.com/category/podcast/
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Nov 8, 2021
EP12 Money Stories: Njeri Young Asks "How Do You Want Your Money to Treat You?"
Njeri Young is an avid YNAB user, but she didn't start out that way. In fact, it took her years of stops and starts before she finally gained control over her dollars, learned how to budget, and build a healthy relationship with money. Although some people on the internet make it look easy, Njeri's experience is common, and she has learned many valuable lessons along her journey.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 3, 2021
18 Summers: Jim and Jamie Sheils on Building Stronger Families
Jim and Jamie Sheils make a sobering, but important, observation -- we only have 18 summers to spend with our children before they become adults and move off to start their own lives. Jesse chats with Jim and Jamie about how we can spend more time with our children, be more present in our relationships, and manage the most precious and scarce resource of them all: time.
Jim and Jamie are the parents of four children, and help coach other families to develop tighter bonds and enjoy more meaningful time with each other.
https://www.18summers.com/about
Jim and Jamies' book: The Family Board Meeting
https://www.18summers.com/book
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Nov 1, 2021
Money Story EP11: Chris Wilson on Simplifying Your Why
Jesse chats with avid YNAB'er Chris Wilson, who turned around a stressful and unfulfilling life by applying YNAB's Four Rules to his budget, and then to his life. Chris explains that the key to his transformation was learning to "simplify his why," and get clear about his values and priorities.
Chris now strives to help others find more security in their finances and more fulfillment in their lives. He offers a free coaching course via his website:
https://simplifyyourwhy.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Oct 27, 2021
Throw Away Your To-Do List: Tanya Dalton On Purpose
Tanya Dalton is passionate about helping women take charge of their schedules and get more done. But it's not just about checking things off the list, she says, it's about giving your tasks priorities and allocating your time to the most important things. And just because something is urgent, doesn't necessarily mean it's important! Tanya Dalton shares strategies from her book "On Purpose" for getting more done, and feeling more in charge of your life.
Tanya Dalton "On Purpose"
https://tanyadalton.com
The Intentional Advantage Podcast
https://tanyadalton.com/podcast
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Oct 25, 2021
The Spectrum of Wealth
Inspired by the ideas in Morgan Housel's book The Psychology of Money, Jesse discusses the meaning of the word "wealth," and how we define wealth in our own lives. Is it just about money in the bank, or is it about our physical health too? Or family health, or liking our job, or having options in life? It turns out, wealth can mean many different things, and perhaps it's best to look at wealth as a spectrum rather than simply a pile of money in the bank.
The Psychology of Money by Morgan House
https://www.collaborativefund.com/blog/the-psychology-of-money/
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Oct 20, 2021
Your Cash Is Your Strategy (Rebroadcast from Beginning Balance)
Did you know Jesse has another podcast all about business? He and veteran YNAB'er and virtual CFO Mark Butler have launched Beginning Balance to talk about the lessons they've learned consulting with other businesses as well as managing their own businesses. In today's episode, we are rebroadcasting an episode of Beginning Balance which looks at how applying Rule One -- Give Every Dollar a Job -- to a business can actually help improve its strategy.
Beginning Balance on Apple Podcasts
https://podcasts.apple.com/us/podcast/beginning-balance/id1569423517
Beginning Balance on Spotify
https://open.spotify.com/show/7APubdzXN2eeeMdNpCLkiy?si=1e2af4932ca643eb
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Oct 18, 2021
Once Again, The Holidays are Upon Us
When did that happen? It seems like the year was just getting started, and all of a sudden it's mid-October. The holidays are coming soon -- have you been creating space in your budget for your holiday spending? If not, it's not too late! There's still time to set some cash aside in your holiday spending category, plan your expenses carefully, and make some choices about your travel plans and gift giving this year.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Oct 13, 2021
The Montblanc Effect
It's normal to want some amount of luxury or finery in your life, but have you considered the true cost of luxuries? There might be more to it than just the sticker price...
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Oct 11, 2021
From the YNAB Mailbag: When Should I Invest in the Stock Market?
Jesse answers a listener-submitted question. If you've paid off your debt, and you have an emergency fund, should you start investing in the stock market? If your goal is to build wealth -- and there are many good reasons to -- then investing in the stock market is a great way to do that.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Oct 6, 2021
Tik Tok for Financial Advice? YNAB's Got That Covered
Did you know YNAB is on Tik Tok? Yep, thanks to YNAB team member Sarah Schweisthal, You Need A Budget has been lighting up Tik Tok "stitches" with budgeting advice for the yoots. Sarah talks about her work sharing the Four Rules on Tik Tok, as well as her own budgeting journey going from being deeply in debt to traveling full-time in a travel trailer.
Follow YNAB (and Sarah) on Tik Tok:
https://www.tiktok.com/@youneedabudget?lang=en
Take the 34-day challenge:
https://www.youneedabudget.com/34dayreset/
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Oct 4, 2021
Should You Invest in Crypto?
It's been hot for years, and has recently become white hot. Cryptocurrencies have the potential to change money and finance in a profound way, but does that make it a good investment, or mere speculation? How would you invest in crypto anyway? Jesse offers his thoughts on this incredible 21st century innovation.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 29, 2021
How the World's Greatest Investors Win in Markets and Life
Jesse speaks with renowned financial journalist William Green about his new book -- Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life -- in which Green interviewed numerous billionaires, fund managers, and legendary investors about their investing wisdom, mindset, and even philosophy. Even if you are just a passive index investor who does not aspire to purchase individual securities, the words of these accomplished investors contain much wisdom.
Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life by William Green
https://www.amazon.com/gp/product/1501164856?ie=UTF8&tag=thewaspos09-20&camp=1789&linkCode=xm2&creativeASIN=1501164856
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 27, 2021
Investing 101, Pt 2: How to Get Started
School is back in session! And today, Jesse and Matthew Amster-Burton are discussing everything you need to do to get started investing for retirement. They break down the different types of investment accounts, mutual funds and index funds, bonds, and a few simple, stress-free strategies for investing.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 22, 2021
Building Passive Income through Real Estate with Dustin Heiner
Jesse chats with Dustin Heiner, a real estate investor who quit his job five years ago after building a passive income stream sufficient enough to live on. Dustin received a wake up call several years ago when he was laid off from what he thought was a stable government job when his department lost funding. Although he was able to find a new position in a different department, he vowed to never be in that position again, so he put his energy into building a sustainable business out of real estate.
Dustin argues that most people have real estate investing backwards -- they look for good properties, buy one, then try to figure out how to make a business out of it. He works the opposite way, building systems and an operating model for the business -- how he will find tenants, how he will contract with property managers, how he will finance the property purchase, etc -- before buying a single property. Once the business is worked out, he can buy as many properties as he likes and slot the…
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Sep 20, 2021
Investing 101 with Matthew: Terms You Need to Know
School is in session! Jesse teamed up with Matthew Amster-Burton (who you have heard on the Behind the Scenes series), a YNAB team member and former financial advisor, to create a short series demystifying the world of investing. For the first day of class, they cover some of the basic investing terms you will encounter.
YNAB is all about helping you save more money, but eventually some of that money has to go to work for you and earn a return. The return that your saved money can earn over time makes a huge difference in how much money you have in retirement. Armed with a little knowledge, you can start investing in your future you!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 15, 2021
You Might Be a Budget Nerd If...
It's time to play a little game. Jesse and a couple YNAB team members gather to play "you might be a budget nerd if...." See if you can call yourself an official budget nerd!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 13, 2021
Financial Order of Operations
Do you pay off debt first, or invest for retirement while paying it off slower? Or do you build an emergency fund first? How much? There are a number of tradeoffs when it comes to paying off debt, saving, and investing, and Jesse reminds us that there is no prescription! Everyone's budget is personal, and will depend on their goals, values, and emotional response to the budgeting process.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 8, 2021
The Financial Pressures of The Sandwich Generation with Jennifer Owens
With the Baby Boomer generation rapidly aging into retirement, more and more Generation X and older Millennials face some tough financial questions: how do you financial support parents that need medical care, or long-term assistance, but cannot afford it? Should you support kids after college by allowing them to live at home while they get their financial feet under them? Should you save for your own retirement first, or help your parents/kids first?
Jennifer Owens calls this conundrum the "sandwich generation," people facing financial pressure from supporting both parents and children at the same time. While she does not have any hard and fast answers to these questions -- it's a complex problem, with many factors to consider -- she does believe that talking about the problem and sharing the challenges helps people know they aren't alone.
Jennifer has written extensively about the sandwich generation, and she is also working with a new app called Firstly which helps families manage…
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Sep 6, 2021
Behind the Scenes: A Random Chat with the YNAB Team
As you might have noticed by now, the team at YNAB is diverse, eclectic, and full of passionate people with a wide range of interests. It is no surprise, then, that in the course of conducting these Behind the Scenes interviews, Jesse discovered a ton of interesting and, well, random things about the employees of YNAB!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 1, 2021
How to Talk to Your Kids About Money with Anne-Lyse Wealth
Talking about money isn't easy for adults, so it's no surprise that many adults struggle with how to talk about money with their kids. Stephanie Anne-Lyse Wealth, or just Anne-Lyse as she goes by in her publications, has some ideas for introducing children to the concept of money, saving, investments, and debt.
Anne-Lyse is the author of Dream of Legacy, a book about building not just individual wealth but generational wealth. She also hosts The Dreamers Podcast where she interviews successful entrepreneurs about their journey building businesses and wealth. You can find these resources and more at:
https://dreamoflegacy.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 30, 2021
Behind the Scenes: Personal Finance Tips from the YNAB Team
In today's installment of Behind the Scenes, YNAB team members share their insights about personal finance, whether it's overcoming the fear and confusion of investing, learning to push yourself to achieve things you never thought you could, or better understanding our conditioning around money and success.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 25, 2021
Back to School, Back to Budgeting
It's that time of the year again, when summer is winding down and children are starting the new school year. As seasons go, starting the new school year is a time of new schedules and new challenges. It's also a great time to rethink the budget, or simply get back in touch with the budget.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 23, 2021
Behind the Scenes: The YNAB Team Shares Their Very Best Budgeting Advice
Today Jesse asks the team at YNAB to share their top pieces of advice for new YNAB users... besides, you know, that you need a budget.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 18, 2021
Meet the Man with All the Hacks! Chris Hutchins
Life hacker, optimizer, product director at Wealthfront... he wears many hats, but his passion is the same -- upgrading life without spending a fortune! In today's episode, Jesse chats with Chris Hutchins, who shares a handful of his seemingly endless number of life hacks. Whether it's saving money on travel, getting a few more dollars out of your car lease, or negotiating for coupons, Chris has a hack for just about everything.
You can follow Chris and learn many more hacks on his podcast, All the Hacks:
https://www.allthehacks.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 16, 2021
Behind the Scenes: Working at YNAB
In today's installment of Behind the Scenes, Jesse asks employees why they applied for a position at YNAB, what the interview process is like, and whether the company has lived up to its reputation as the best small business place to work at (no, really, that's what Fortune said, for the second year running!). YNAB gets a lot of applications, and the hiring process is fiercely competitive, but those who have made it share their thoughts and experiences.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 11, 2021
EP10 Money Stories: How Tristan Pursued His Art Dreams and Paid off $80k of Student Debt
In today's Money Story, Jesse chats with a YNAB employee, the gifted artist and animator Tristan Henry-Wilson, whose work YNAB users may have seen on the YNAB website and the YNAB Youtube channel, among others. Tristan may be an exceptionally talented artist, but he didn't come into his art career easily. After receiving some unexpected financial aid, he attended Ringling College of Art and Design and earned a degree in illustration.
Tristan had a difficult time landing paying gigs in the art world, and began working a long series of odd jobs to pay rent, eat food, and, most importantly, make payments on his $80k of student loads, which a family friend had co-signed for him. After years of grinding, building his portfolio, learning how to interview, and networking into better jobs, Tristan found salaried work in New York City, and was finally able to throw serious money at his debt. At this point, the balance had grown to about $150k, but he was undeterred. With each pay increase, Tri…
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Aug 9, 2021
Behind the Scenes: Budgeting with a Partner
Experienced YNAB'ers understand that budgeting is an active, ongoing process that requires frequently engagement with your budget. Ideally, both partners in a relationship are fully engaged in the budget, but the budgeting process can take many forms. In today's Behind the Scenes episode, Jesse chats with YNAB employees about budgeting with a partner, and the many ways couples learn to navigate the routine.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 4, 2021
Mom and Dad, We Need to Talk: Money and End-of-Life Care with Cameron Huddleston
Award winning author and personal finance journalist Cameron Huddleston joins the show to discuss the uncomfortable realities of managing parents' finances through end of life care and after their death. From wills, power of attorney documents, to simply knowing where your parents have all their bank accounts, Cameron offers some practical advice on what things you need to look out for when helping your older family members manage their finances.
Of course, personal finance is a, well, personal thing for many people, and parents may be reluctant to share the details of their money. Cameron offers some tips for breaking the ice on money conversations, and how to approach parents and loved ones respectfully.
You can find more about Cameron Huddleston and her book, Mom and Dad, We Need to Talk, at her website:
https://cameronhuddleston.com
Carefull app:
https://www.getcarefull.com/
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Aug 2, 2021
Behind the Scenes: What's The Budget Done for You Lately?
Jesse interviewed every employee at YNAB, asking them about a wide range of topics -- how they heard about YNAB, what they are working on in their roles, and their money struggles and successes. In today's Behind the Scenes episode, YNAB insiders answer the question: what's the budget doing for you lately?
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 28, 2021
Meet Your Guide to the Student Loan Jungle: Travis Hornsby (Student Loan Planner)
Travis Hornsby is passionate about student debt, especially helping people with lots of it find smart, effective pathways to pay it off. After a career as a bond trader, he turned his attention to building a service to help college graduates with large student debt loads navigate their way through the maze of repayment options, forgiveness programs, and tax complications that come with student loans. Travis and his company, Student Loan Planner, have consulted with thousands of students on over $1.4 billion of student debt, helping them create a repayment plan that takes full advantage of all the programs out there.
You can learn more about Travis and his work at The Student Loan Planner website. He also hosts a podcast by the same name:
https://www.studentloanplanner.com
https://podcasts.apple.com/us/podcast/student-loan-planner/id1446453497?mt=2&ls=1
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Jul 26, 2021
Behind the Scenes: YNAB Employees Tell Their Debt Stories
Jesse interviewed every employee at YNAB, asking them about a wide range of topics -- how they heard about YNAB, what they are working on in their roles, and their money struggles and successes. Today, you'll hear from a selection of YNAB employees discussing their debt struggles, how they came into debt, and how they have used the Four Rules to pay it off.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 21, 2021
James Clear: Building Good Habits and Breaking Bad Ones
Jesse invites the author behind one of his favorite books, Atomic Habits, to join the podcast and talk about what he learned about setting good habits, breaking bad ones, and developing environments and systems conducive to productive habits. As James says, the things you do and accomplish in life are essentially lagged indicators of your habits. So building good habits slowly, methodically, and thoughtfully can result in big rewards down the road.
James Clear
https://jamesclear.com
Atomic Habits: Tiny Changes, Remarkable Results
https://jamesclear.com/atomic-habits
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 19, 2021
Dear College Student
Are you a college student, or about to go to college? It's an exciting time of your life, but it can also be a very expensive time of your life too. It's possible to keep your spending under control, and have a lot of fun, but you're going to need a budget.
College students -- you can get a whole FREE YEAR of YNAB here. Sign up, take some of the free classes, and give yourself the gift of learning how to budget and take control of your financial life.
https://www.youneedabudget.com/college/
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Jul 14, 2021
Hannah Cole: Simplifying Taxes for Artists and Creative Professionals
Artist and tax professional Hannah Cole has a burning passion -- seeing art get made. And one thing she hates to see is artists being held back by money problems. After establishing herself as an artist in exhibitions in New York City, Hannah landed a job working for a design agency. There she learned she had a talent for communicating with both the creatives and management, helping each side understand deadlines, budgets, and resources needed to complete projects. Hannah went on to become a tax professional and open a tax service specializing in helping artists, creatives, and freelancers.
In addition to a full suite of tax services, Hannah's company offers money workshops to explain business, finance, and tax terms in clear language and help freelancers develop strategies for managing their money. She has also created a free, colorful guide for understanding how tax deductions work. You can find out more about Hannah, her company, and resources on their website:
https://www.sunligh…
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Jul 12, 2021
You're Broke and Winning
Veteran YNAB'ers have a saying for what happens when you follow the four rules, budget, and have no money left over. They call it being "YNAB broke," and it's a badge of honor!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 7, 2021
A New Way to Pay for College? David Stackpole's Unique Strategy
EDITOR'S NOTE: At 28:15 David states that generally you cannot take out money from a ROTH to pay for college without paying a penalty. David later pointed out, however, that you may take out up to $10k without penalty to pay for qualifying higher education expenses.
David Stackpole, wealth manager and Certified Financial Analyst (among other titles), joins the podcast to discuss his strategy for paying for the ever-growing cost of college. David points out that college tuition has increased nearly 1,400% since the 1970's, which amounts to a 6.4% annual inflation rate. With costs rising so dramatically and so steadily, many parents find it difficult to save enough for their children's college education. David has a unique strategy for dealing with this problem, however.
David recently published a paper outlining his approach in the University of Louisville's Journal of Student Financial Aid, which you can find here:
https://ir.library.louisville.edu/cgi/viewcontent.cgi?article=1701&…
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Jul 5, 2021
EP09 Money Stories: Carol Kissinger Was "Bad At Money," Until She Found YNAB
In today's money story, Carol Kissinger tells her story of discovering YNAB after moving from America to Berlin. She had never been good with money, was indebted to her parents for years, and frequently argued with her husband about money. Moving to Berlin put new stress on her bank account, until she discovered YNAB. The Four Rules helped her put a simple framework around money and clarify what it was she was spending on.
As it turns out, impulse purchasing was a recurring theme in Carol's budget. She and her husband would see money in the bank account after pay day and start buying things... without first reserving money for rent, utilities, and the various unplanned expenses that inevitably come up during the year. With an ADHD diagnosis, Carol found it particularly difficult to stop impulse purchasing without having a solid plan of what to do with her money after pay day. YNAB provided a framework for her to budget her dollars and give them jobs before they got spent. She found in…
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Jun 30, 2021
How to Be a Financial Grownup with Bobbi Rebell
Personal finance journalist, news anchor, Certified Financial Planner, and now author, Bobbi Rebell explains what it means to be a "financial grownup." The essential part of being grown-up with your finances is realizing that it's no one else's responsibility to make a budget, put money in your retirement account, or educate yourself about financial terms and concepts. It's all up to you! Luckily, there is a wealth of easily accessible information that you can learn from, including Bobbi's own podcast.
You can find out more about Bobbi, her new book "How to Be a Financial Grownup, her podcast, and her "Grownup Gear" on her website:
https://www.bobbirebell.com
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Jun 28, 2021
Uh, Are You Still Budgeting?
After receiving shocking financial news that credit card spending in 2021 is up over 20% compared to 2019, Jesse asks the question: are you still budgeting out there?
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jun 23, 2021
EP08 Money Stories: Ivan & Daniel Budget for the High Income Earner
Jesse chats with two people that are passionate about personal finance and share a common trait: they are high income earners. YNAB doesn't often talk about people earning high incomes, but contrary to popular belief, earning a lot of money does NOT mean you don't need to budget!
As Ivan Smirnov and Daniel Chen attest, high incomes often come with high cost of living areas, where housing costs can run well into the 7 figures for homes or multiple thousands for rent. High income can also come with lifestyle inflation, as well as debt from post-graduate student loans and professional programs. Both of these things (and much more) can be managed with an effective budget, and Ivan and Daniel share their tips in keeping their costs under control and managing their investments using YNAB.
Ivan Smirnov is a software engineer at Google, and he loves to share his personal finance journey and YNAB power tips with friends and co-workers. He writes occasionally for a couple blogs:
https://ivans…
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Jun 21, 2021
After Years of Experiments, Jesse Does the Unthinkable
After years of experimenting with his budget and budgeting process, Jesse decided to do the unthinkable in 2020. He went an entire year *without* a budget!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jun 16, 2021
Jean Chatzky: Helping Women Find Security in Money
Jean Chatzky, long-time personal finance writer and correspondent for The Today Show, CNN, MSNBC and other high-profile shows, joins the podcast to discuss the unique issues women face in their financial lives. She has recently written a book about her research and experience working with women on improving their financial security, and she runs a website dedicated to educating and coaching women in financial matters called Her Money.
Jean's book -- Women with Money
https://womenwithmoneybook.com
Her Money Podcast
https://hermoney.com
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Jun 14, 2021
6 Money Lessons for Newlyweds
Jesse offers six tips for newlyweds learning to manage their money as a couple for the first time.
Check out the YNAB blog for more!
https://www.youneedabudget.com/money-lessons-i-wish-i-had-learned-when-i-was-25/
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Jun 9, 2021
Well, Here We Are...
Jesse celebrates -- can you believe it?! -- the 500th episode of the You Need a Budget podcast. Nearly 10 years ago, Jesse started this podcast as an experiment. Over the years the mics have been upgraded, the acoustics have gotten better, but the message has remained the same: follow the Four Rules, and make your dollars work for you and your priorities.
Jesse reminds us that, much like doing the podcast, budgeting is mostly just doing the work, day in and day out. Budget is a verb, an activity that you do every day, and simply showing up and continuing to do it over time yields big results.
YNAB the company is still growing, and so is the podcast. Jesse and his longtime friend and corporate finance expert Mark Butler have launched a new show for small businesses called Beginning Balance. Download and subscribe here!
https://podcasts.apple.com/us/podcast/beginning-balance/id1569423517
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Jun 7, 2021
Closing the College Gap: Steve Colon (CEO, Bottom Line)
Jesse interviews Steve Colon, CEO of Bottom Line, an organization that helps students of color navigate the complex, time-consuming, and high stakes college admissions process. Bottom Line doesn't stop with admissions, either. Through their unique DEAL rubric, they help each student set a plan to graduate within six years, with no more than $31k debt, and find high quality jobs. Along the way they meet regularly with students, to provide a network of support and ensure students can meet their goals and graduate on time.
Bottom Line has recently partnered with YNAB to provide students with financial education to manage both their tuition and student life costs as well as their personal finances during and after school.
You can find out more about Steve and the Bottom Line organization here:
https://www.bottomline.org
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Jun 2, 2021
Introducing Beginning Balance: A Show About Small Business
Today Jesse gives a sneak peak at a new show launching on the YNAB podcast network -- Beginning Balance. Together with his friend and business mentor Mark Butler, a virtual CFO and business expert, they explore the financial issues of small businesses and how to solve them. This is the first episode of Beginning Balance, which will begin airing weekly on Fridays.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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May 31, 2021
Get Your S*** Together: End of Life Planning with Chanel Reynolds
Jesse chats with Chanel Reynolds, author of What Matters Most and founder of the Get Your Shit Together website, dedicated to helping people navigate the confusing, difficult, and emotional aspects of end-of-life planning. In 2009 Chanel's husband was killed in a road cycling accident, and she found herself, very suddenly, a widow, a single parent, and overwhelmed dealing with the many medical, legal, and family issues that death brings with it.
Today Chanel helps others plan for the what-ifs and eventualities of life, and encourages people to start having conversations with their spouses, parents, and other loved ones about what they want when it comes to their end-of-life. Although these can be difficult conversations -- and people often avoid them for that reason -- she recommends to start by focusing on the love, and how you want your loved ones to feel, and what quality of life means to them. From there, you can visualize what end of life might look like and start the basic plann…
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May 26, 2021
Rebroadcast -- Work Party: Take Control of Your Finances and Cultivate Confidence Around Money with Jesse Mecham
Today Jesse is sharing an interview he did with Jaclyn Johnson of the Work Party podcast for her Budget Broadcast Series. Jesse talks about the early days of YNAB, how to get serious with your side hustles, and explains the Four Rules to a new audience.
You can find more from WorkParty, including the original interview, here:
https://dearmedia.com/shows/work-party/
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May 24, 2021
Meet the Woman Who Paid Off $490k in Debt: Sami Womack
Jesse chats with Sami Womack, who paid off nearly half a million dollars of debt after hitting financial rock bottom during the birth of her first child. Stuck in a different city on business travel, her husband almost missed a flight home to be at the birth... because they had maxed out all their credit cards, and the last minute ticket was $800.
Sami and her husband had made most of the financial mistakes you could make. They were behind on all of their bills, including mortgage payments and property taxes. They had three properties -- their home, a rental home, and a piece of land Sami intended to build a business on but could not secure financing -- but were facing foreclosure on them. They were eating out frequently, and spending lots of money on food.
The added stress of children brought them to a financial breaking point, at which point Sami started googling for help. She found YNAB, and began budgeting her current dollars, instead of her future dollars, for the first time. It…
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May 19, 2021
Identity Crisis? How About Identity Shift with Anthony Trucks
Former NFL athlete, husband, father, and coach -- a man of many identities you might say -- Anthony Trucks joins the podcast to talk about how what's holding you back from reaching your goals might just be an identity problem. Anthony runs a coaching program call Make Shift Happen where he helps people to make consistent action toward their goals in 90 days.
Making an identity "shift" is a key part of the process, visualizing yourself as the kind of person that does the things needed to have success in business, family, or other areas in life not because those are things you ought to do, but because they are simply a part of you. The Rock doesn't fight himself to go to the gym and workout, he does it because he loves it. Physical fitness is part of his identity. Anthony challenges us to think about what identity we want, and to start viewing ourselves as that. Then action can follow.
You can find Anthony, his coaching services, and his speaking engagements at:
https://anthonytrucks.…
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May 17, 2021
Installment Plans and Future You
Jesse does NOT like payment plans, and neither should you!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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May 12, 2021
EP07 Money Stories: Student Debt? No Problem. Staying Positive During Debt Paydown with Abbie Shepherd
In today's episode of Money Stories, Jesse chats with Abbie Shepherd, a clinical psychologist who recently earned her PhD and is working her first real job after her long journey in higher education. Most people understand that earning a PhD takes a lot of academic rigor, but few realize that it is very taxing on the budget as well. In addition to incurring student debt during the multi-year PhD process (usually preceded by a Masters degree and Bachelors degree, for which you may incur debt as well), it's difficult to work and earn money along the way.
In Abbie's case she typically worked for minimum wage when she could during her demanding PhD program. Meanwhile, her husband worked as a pastor, which is a lower earning field. Needless to say, money was tight during those years, but Abbie and her husband kept a clear head and long term vision. Abbie knew that a PhD would give her the most flexibility in her work -- she could work as a clinician, or teach, or both -- so they kept their…
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May 10, 2021
Taking Action on Your Ideas with Noah Kagan
Jesse chats with marketer and entrepreneur Noah Kagan, former Director of Marketing at Mint, former Facebook employee, and currently the owner of AppSumo, a daily deals website which offers entrepreneurs discounted software from top software companies. In a sprawling conversation, they touch on the critical importance of taking action on your ideas in business, determining why you want money in the first place, setting one-year gameplans, and more.
AppSumo
https://appsumo.com
Noah Kagan on YouTube
https://www.youtube.com/user/crxnamja
Be sure to subscribe and post a comment for a chance to win an iPad!
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May 5, 2021
YNAB and the Vocabulary of Finance
Assets? Liabilities? Balance sheet? FBI's? What does it all mean? Jesse helps you understand some of the basic financial terms that come up often in YNAB, as well as some YNAB-specific lingo related to the software and the budgeting process.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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May 3, 2021
YNAB Features You Didn't Know Existed
Jesse walks through some hidden features of the YNAB software you probably didn't even know existed!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Apr 28, 2021
Budgeting for a Baby with Chelsea Brennan (Smart Money Mamas)
While there's no way to prepare for being a parent without actually becoming a parent, you can prepare financially for the experience. Chelsea Brennan shares some tips on how to do this, and what kind of difficult conversations you need to have with your spouse and family as part of the process.
After a successful career as an equity analyst and hedge fund portfolio manager on Wall Street, Chelsea became a mom and followed a new passion in life -- helping other moms be more financially stable and reduce their money stress. Today she runs a website and podcast dedicated to this mission called Smart Money Mamas, with resources for helping moms define their values, have important conversations, and take steps toward securing their financial future.
Smart Money Mamas website: https://smartmoneymamas.com
Smart Money Mamas Podcast: https://smartmoneymamas.com/podcast/
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Apr 26, 2021
YNAB and Privacy
At YNAB your data is exactly that -- YOUR data. Financial data is personal and sensitive, and as Jesse explains, YNAB does not and will not touch that!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Apr 21, 2021
Set Boundaries, Get More Done with Jeff Sanders (5AM Miracle Podcast)
Jesse chats with productivity master Jeff Sanders, host of the 5AM Miracle podcast. As the title of his podcast suggests, Jeff loves to wake up early, but he doesn't necessarily think you should. Instead, Jeff focuses on setting clear boundaries around your work time, family time, and personal development time (especially physical fitness).
Especially in the remote working arrangements that are increasingly common today, it's important to separate the home office from the kitchen, living room, and bedroom. Too often the proximity of the home office lures remote workers into working all day, with no clear lines between work time and personal time. This leads to lower productivity, more stress, more burnout, and more tension in relationships. In his podcast and his productivity coaching work, Jeff shows how you can set better boundaries around work and personal life and live life with more intention.
You can find Jeff at his website: https://www.jeffsanders.com
5AM Miracle Podcast: ht…
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Apr 19, 2021
EP06 Money Stories: How YNAB Saved Erika from Drowning In Debt
In today's money story, Jesse chats with Erika, a 32 year old married woman who found herself struggling in the deep end of credit card debt. Until YNAB, Erika always managed her money with her bank statements -- if there was enough for her current outflows, good! There wasn't much of a plan or cushion for surprises, however.
Shortly after getting married Erika began to feel trapped in her debt payments, which had become burdensome due to the credit card debt she and her husband had racked up for their wedding. After some close calls where she questioned their ability to even pay the rent, Erika discovered YNAB and began to make changes.
While she and her husband are still climbing out of the hole, they've made a big dent in their debt load and have created a solid plan for aging their money, acknowledging their true expenses, and rolling with the punches.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Apr 14, 2021
Own the Muddy Parts of Your Story with Mary Marantz
Jesse chats with author Mary Marantz about her book Dirt, the story of her life journey growing up in poor, rural West Virginia to eventually attending Yale Law. Mary grew up with a strong, hard working father who instilled in her a vigorous work ethic and a love for her hometown. However, her working class roots cast a shadow of doubt over how high she could climb in the world, and how qualified she could feel amongst those from different, more economically priveleged backgrounds. Dirt is the story of Mary reckoning with the good and bad of her upbringing, and how it shaped her into the woman she is today.
How does this relate to money? Money is all about feelings, and often our upbringing instills deeply seated ideas about how to earn and spend money that are hard to shake as adults. Mary's story is a powerful reminder that doing the work to better understand yourself, your history, and your place in the world prepares you to make lasting changes to your decision making around money…
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Apr 12, 2021
Student Loans Are Frozen, But You Are Not
Student loan payments have been frozen for several months due to COVID-19, but that doesn't mean your budget has to be frozen. Jesse strategizes ways for you to address student loans during the grace period.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Apr 7, 2021
How Does She Do It? Managing Time in a Busy Life | Laura Vanderkam & Sarah Hart-Unger
Jesse chats with Laura Vanderkam and Sarah Hart-Unger, two time management experts and the hosts of the Best of Both Worlds Podcast, a show all about balancing busy lives and careers. Sarah is a pediatric endocrinologist while Laura is a writer (and author of I Know How She Does It), and both of them are also busy mothers. While they approach the challenges of time management with different strategies, they are both experts in making things fit in a busy life without getting burned out.
Sarah and Laura point out that the things you spend your time on -- the things you say yes or no to -- are ultimately a reflection of your values. If something doesn't fit in your priorities, you simply won't do it. Sounds familiar, eh? Money, or rather the things you spend money on, is also a reflection of your values, as Jesse has argued on previous shows. So, the first step in wrangling your time management problem is to take a hard look at the things you value and see if the things you are spendin…
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Apr 5, 2021
How to Go From Two Incomes to One
Whether it's because of changing careers, preparing for a child, or some other life event, you and your partner may need to downsize from two incomes to one. This has a major impact to your budget! But, with some planning, you can make a smooth transition. The easiest way, Jesse says, is to live on a single income before actually losing the second income. With a little help from YNAB, you can practice this and ensure that when the second income goes away, you know how to make your dollars stretch without stress.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Mar 31, 2021
What Does College Really Cost? Ron Lieber Explains
New York Times columnist and bestselling author Ron Lieber joins the podcast for a frank discussion about the ever rising cost of college and whether it's even a good idea for young people today. Evaluating the true cost of college, as it turns out, is essentially a budgeting exercise. There's the sticker price for tuition and room and board, but the real analysis lies in examining the hidden costs, as well as the hidden benefits. Ron Lieber helps us break those down and demystify the college problem.
Ron Lieber
https://ronlieber.com
The Price You Pay for College
https://ronlieber.com/books/the-price-you-pay-for-college/
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Mar 29, 2021
How to Time a Home Purchase
Buying a house is a stressful experience, especially in the current market where low supply and high demand have pushed prices up and up. Naturally, house shoppers worry about overpaying for a house, or whether they've overpaid for a house they've already bought. We'd all like to perfectly time the market and buy at the lowest possible point, but it's very difficult to do.
Jesse reminds house shoppers to check in with their reasons for owning a house before they worry. Is your house a real estate investment that you are buying with an exit strategy? Then purchase price is very important, and you should be worried about overpaying!
But are you buying a house to be your home? In that case, it's not an investment, it's the place where you live, and the purchase price only matters insofar as it fits your budget. If you value the lifestyle that a house offers, and that house fits your budget, then don't sweat whether you have overpaid or not. You are giving your house dollars the job of s…
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Mar 24, 2021
Budgeting and... Nutrition? How The Four Rules Can Improve Your Eating Habits with Kali Langevin
What does budgeting have to do with nutrition? A lot, actually, explains Kali Langevin, a nutritionist and Registered Dietitian who has spent 16 years working with athletes in United States Soccer Federation. Kali is also a long time YNAB user, and joins the podcast to explain how the Four Rules can be applied to nutrition. Much like Jesse encourages people to be mindful of their spending habits -- giving dollars jobs that accomplish the things that you value -- Kali encourages people to be mindful of their eating habits, being intentional with meal times and the rituals around food.
Kali on LinkedIn: https://www.linkedin.com/in/kalilangevin
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Mar 22, 2021
EP05 Money Stories: From $30k Debt to "CoastFI" with Diania Merriam
This week's Money Story comes from the vivacious Diania Merriam, founder of the EconoMe Conference which brings together speakers in the FIRE movement (Financial Independence, Retire Early). After finding herself working for a decent salary in NYC but falling deeper into debt, Diania decided to pull her head out of the financial sand and figure out where her finances stood. Around the same time, a friend introduced her to the Mr. Money Mustache blog and the concept of FIRE.
Armed with these tools, she started cutting her expenses and aggressively paying off debt. Eventually, Diania managed to stash away 60% of her income, and pay off $30k of debt. Ever the life of the party, Diania attributes part of her success to realizing that her happiness lies in connecting with friends and shared experiences, not necessarily in spending money in exclusive clubs. After paying off her debt, she was also able to pursue her dream of hiking the Camino de Santiago in Spain.
Today Diania has reached C…
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Mar 17, 2021
The ONE Thing Keeping You from Reaching Your Goals with Geoff Woods
Jesse chats with Geoff Woods, President of ProduKtive, the training company behind the bestselling book The ONE Thing by Gary Keller and Jay Papasan. After leaving a high-stress and ultimately unfulfilling job in medical device sales, Geoff set out to surround himself with successful mentors. Eventually Geoff found Gary Keller and Jay Papasan, and immersed himself in their philosophy of the "one thing," that is, the concept of relentlessly pursuing the single most impactful thing you can do in your day, and arranging your schedule to accomplish that thing first.
Geoff describes the one thing as a stack of dominoes. Accomplishing the one thing you can do first -- "can" is the operative word here, this task must be small and easily achievable today -- topples the first domino in the chain, which topples the next, and the next, and so forth. Most people never do the work to identify this one thing, however, and get stuck spending lots of time toppling individual dominoes without ever set…
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Mar 15, 2021
Optimizing Your Car Budget... Not Really
Jesse attempts to give some advice on purchasing a car... before admitting that he has no advice to give! Well, maybe a bit of advice. Jesse reminds us that optimizing your budget involves optimizing for YOUR needs and wants. Jesse chooses to lease a Tesla to drive around in, because he wanted to have as little headaches with car maintenance as possible. That's important to him today, but ten years ago his needs and wants were totally different, and thus the things he chose to optimize his budget for were too.
So this episode is not about how to buy the most cost-effective used car, or how to get a good deal on a new car, or anything like that. It's about examining your own needs and shaping your budget around them.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Mar 10, 2021
Know Your Enneagram, Know Yourself with Ian Morgan Cron
Bestselling author Ian Morgan Cron introduces the Enneagram, a personality typing system which identifies nine different personality types, their motivations, strengths, and weaknesses. As Ian explains, understanding your enneagram can help you better understand your motivations for why you want to do the things you do, which has direct implications in budgeting. Understanding the motivations and perspectives of others, especially those with polar differences in personality, can help you mitigate conflict and reach compromise in your family relationships and in the workplace.
Ian Morgan Cron is a psychotherapist, Episcopal priest, and an accomplished author. His book The Road Back to You champions the Enneagram for people that seek to better "know thyself."
https://ianmorgancron.com
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Mar 8, 2021
Here's the Ideal Budget
Jesse reminds us that the ideal budget... is the budget which helps you achieve your goals and values. And those goals and values can, and will, change over time!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Mar 3, 2021
House Hacking, Individual Stock Picking, & More with Investor Robert Leonard
Robert Leonard has been a uniquely driven person since a young age. Eyeing the professional ranks of motocross at age 14 (the minimum age to turn pro was 16), he competed all over the country. When his father discouraged his going pro, Robert started working various jobs and reading about investing. By the time he graduated college, he had already purchased his first piece of real estate and began "house hacking" -- leasing spare rooms to roommates to generate cash flow to cover the mortgage.
Over the years Robert has continued to house hack, selling properties and rolling the profits into the next investment. He now owns a portfolio of rental properties. On the side, he also invests in individual stocks as a value investor, and enjoys the process of digging through company financials and earnings to find undervalued companies to buy and hold.
Robert is also passionate about teaching other people how to get started with investing in both real estate and the stock market, and he hosts…
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Mar 1, 2021
EP04 Money Stories: How YNAB Brought Sita Peace of Mind... and Peace in Life
Sita Thomas is a woman of many talents, and many careers, having worked jobs ranging from massage therapy to data analytics. She has been using YNAB for over 8 years to help her reach her goals, including going back to school and making a career change, taking time off work to care for a terminally ill family member, and removing the day to day stresses of money from her life.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Feb 24, 2021
How to Find Passion in Your Work with Kelsey Murphy
Jesse chats with professional coach and business strategist Kelsey Murphy about how she left a high profile -- yet unsatisfying -- corporate job to travel the world with her husband. During their travels Kelsey realized she had a gift for coaching and helping others put their visions and dreams into practice. Today she runs a successful coaching business doing just that.
Kelsey puts a lot of emphasis on her client's values, examining them through a very practical lens. What would you like to see or do first thing when you wake up in the morning? What kind of space do you imagine yourself working in? These are a couple of the questions Kelsey might ask. Once you understand your values in clear, tangible terms, then you can focus your attention on the important tasks that will bring you closer to your vision.
Learn more about Kelsey:
https://www.kelseymurphy.com/careerandlifecoaching
Whisky & Work Podcast:
https://www.kelseymurphy.com/podcast
Sign up for a free 34-day trial of YNAB…
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Feb 22, 2021
Jesse Answers Your Questions: Small Business Q&A #1
Jesse answers your questions about small business in Q&A format. You can send Jesse your questions and comments at: podcast@youneedabudget.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Feb 17, 2021
How to Have the Most Productive Year Ever with Amir Salihefendic (Doist)
Jesse chats with Amir Salihefendic, CEO of Doist, the company behind the popular productivity tool Todoist. Between running a company and being a father, Amir has a very busy life. He explains how he keeps everything moving smoothly, including the importance of managing your energy throughout the day, not just your schedule.
https://todoist.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Feb 15, 2021
How to Get a Job at YNAB with Emma Rolls
Jesse chats with YNAB's manager of support hiring, Emma Rolls, about what it takes to get hired at YNAB, what type of person fits in with the company culture, and Emma's personal experience learning about YNAB and getting hired.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Feb 8, 2021
Four Common Traits of People Who Aren't Stressed About Money
Jesse identifies four common traits in people who don't stress about money.
* They have a cadence for checking their money. These people regularly check-in with their budget and watch their money. It's not a panicky, reactionary review but a planned part of their week or month.
* They have regular conversations with themselves and/or significant others about money. These conversations are not highly charged, hostile engagements, but calm, rational discussions about what is going on day-to-day. Often these conversations aren't about money per se, but rather the things that the money is going towards. In that sense, the conversations are more about whether or not spending is happening in accordance with their values and goals.
* They have clarity about their priorities, values, and goals. They give their money a job, and know why they are spending.
* They have plenty of cash on hand.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Feb 1, 2021
Budgeting Your Technology with Corbett Barr
Writer and entrepreneur Corbett Barr joins the podcast to discuss digital mindfulness, the pitfalls of social media and endless digital content, and his own quest to find peace as a digital creative.
https://corbettbarr.com
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jan 25, 2021
What Does Strength Have to Do with Budgeting? Matt Reynolds (Barbell Logic Online Coaching)
Jesse interviews strength coach, former pro Strongman, and founder of Barbell Logic Online Coaching, Matt Reynolds, about the many analogs between strength training and budgeting.
Matt relates the Four Rules to the basic tenets of effective strength training -- consistency, small increases in weight each workout that add up to big results over time, and focusing on the things that will give you the greatest bang for your buck. Matt relates strength training to a "physical 401(k)," where the work that you do today to build you fitness and health can be drawn on later in life when the inevitabilities of aging and life events happen. Strong people are more resilient and more useful, especially in old age!
Matt's company, Barbell Logic Online Coaching, offers customized strength, conditioning, and nutrition coaching to individuals, pairing each trainee with their own highly trained Barbell Logic coach.
If you're interested in trying out Barbell Logic Online Coaching, you can get the fir…
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Jan 18, 2021
Sprinting Is Hard, But the Payoff Is Sweet
If you've been doing the 34-Day Reset, you're in full sprint mode right now. And it might be tough! But the beauty of the reset is that it's just 34 days, and affords you some space to reflect on whether your money is working for you and helping you achieve your goals and values.
So stick with it, finish strong, and bask in the extra money you will have saved. You're almost there!
Take the challenge:
https://www.youneedabudget.com/34dayreset/
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Jan 14, 2021
EP03 Money Stories: Katie Is Living the Hawaiian Dream... On a Budget
Jesse interviews Katie about her journey after college to Hawaii, where she went through a tough breakup and financially tenuous times. She persevered through those hard times, discovered YNAB (actually re-discovered, having first encountered YNAB in college) and began to get her budget back on track in a notoriously expensive state. The hard work paid off; Katie met her husband and was able to have a dream wedding in Hawaii, and the couple now enjoy a rich life... paid in cash!
Katie is quick to point out that she hasn't always made the financially optimal choice, but she is intentional about everything she does. She and her husband decided to hold off paying down their student loans in order to finance their wedding, for example. Katie has set aside money to buy her husband a new computer, and they leave room in their budget for their favorite hobbies and pursuits -- for Katie, her side business coaching women in personal finance and helping them avoid traps like MLM schemes; for he…
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Jan 11, 2021
3 Ways to Curb Your Money Spending Problem
Jesse offers three ways to stop spending money and kickstart your savings:
* Designate a "no spend" day. Pick a day of the week where you will deliberately spend NO money, and dutifully stick to that. Be realistic! If you usually have a date night on Friday, then pick another day. Maybe's it's a Tuesday, maybe it's a Sunday, but it should work with your schedule.
* Treat your savings as a purchase. In other words, change your mindset about what spending is. Instead of buying a good or service, treat your saving as "buying investments" or "buying back your debt." Some people turn buying small numbers of shares in an index fund into a game, where their investment brings them pleasure just like buying a coffee or a croissant at the local coffee shop.
* Identify your triggers. Pay attention when you have an impulse to buy something. Does it happen in certain places? Certain websites or forums? Perhaps on your way home from work? Find your spending "triggers," and work on ways to avo…
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Jan 7, 2021
EP02 Money Stories: Liz Finds Financial Freedom through Tik Tok
Jesse talks with YNAB'er Liz about her recent conversion to the YNAB software, which she discovered through the social media network Tik Tok. In just six months with YNAB, Liz has already reversed her financial situation, paid off debt, and created financial security for her family.
Are you ready to take the challenge? https://www.youneedabudget.com/34dayreset/
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Jan 4, 2021
This Is Why You Can't Get Out of Debt
Just like weight loss, there are some people who manage to pay off their debt through a burst of willpower and concerted effort... only to fall into debt again, usually slowly. Jesse points out that often this is a failure to follow Rule Two (Embracing Your True Expenses), and discusses how you can prevent slipping into old habits in the New Year.
Are you ready for a financial reset?
https://www.youneedabudget.com/34dayreset/
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Dec 31, 2020
EP01 Money Stories: Trish Answers - How Far Would You Go to Pay Off Debt?
YNAB is bringing back the Debt Stories... but this time we're calling it "Money Stories." In this series, Jesse interviews YNAB users about their incredible stories using YNAB to pay off debt, plan for life, build their savings, and more.
In this episode, Jesse interviews 34-year old nurse Trish. Though very hard working and driven to succeed, Trish found herself in $50,000 of debt despite working multiple jobs. Her unusual work arrangement meant that she went long periods of time between paychecks -- sometimes receiving multiple paychecks at once, months apart -- during which time she began relying on credit cards to ensure she had enough money to cover emergencies and unexpected expenses.
The credit card balance continued to climb, however, and, when combined with her car note and student loans, the monthly payments began eating up a large portion of her cashflow. Fed up, Trish decided to make some changes.
Focusing her energy and work ethic on her money, Trish decided to make dra…
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Dec 28, 2020
Join Me In a 34-Day Reset
Jesse issues a New Years' challenge for YNAB'ers. For the next 34 days, abide by just three rules:
* Write down every single thing you spend money on. You can do this in YNAB, or on a sheet of paper, but it must include every penny spent!
* Purchase ONLY essentials. Essential means you must have it to live.
* Do not eat out, or order take-in from restaurants. No restaurant spending, full stop. It's only 34 days, you can do it!
YNAB's data and experience has shown that people often find hundreds, even a thousand, extra dollars in their budget by doing these three things. In particular, eating out has proven to be the number one most common drain on the budget.
Remember, this is only for a short time! It's a small amount of hardship to endure, that can provide a major boost your savings and financial health to start the New Year.
Start the reset today: https://www.youneedabudget.com/34dayreset/
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Dec 21, 2020
Remembering What We Remember
Jesse reflects on budgeting for the Christmas season. While YNAB is all for getting your savings in order so that you can cash flow your Christmas spending without going into debt, the holiday season is about much more than presents. Recalling his childhood, Jesse can't actually remember much about the gifts he received. What he does remember is the time he spent with family, and the memories he made with them.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Dec 14, 2020
Terry Bickmore: Advice for the First-Time Homebuyer
Jesse interviews his friend and realtor Terry Bickmore about Terry's introduction to YNAB and how it helped transform his business and personal life. Terry offers some advice for first-time homebuyers, based on YNAB's Four Rules.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Dec 7, 2020
Big Goals The End (re-broadcast)
Jesse reflects on learning to relax about spending money, especially on the "black box" line items -- unspecified purchases from Amazon that don't fit neatly into any other category, or purchases that he simply doesn't want to look up and re-categorize. Part of learning to relax about these expenditures is realizing that as long as you are achieving your primary goals -- funding an emergency fund, saving for retirement, saving for a house perhaps -- then it doesn't really matter what happens to the rest of your money. It's another way of looking at the big picture.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 30, 2020
Tackling Fear
The end of the year is nigh, and 2020 has been one of the most stressful in recent memory. Jesse offers some advice for those dealing with fear and anxiety during these times.
During times of fear and uncertainty, Jesse draws on Stephen R. Covey's seminal book The 7 Habits of Highly Effective People. The first habit is to be proactive and take responsibility for your reactions to events. To that end, Covey asks readers to consider their circle of influence -- What do you control? Where do you not have control? Drawing a very clear picture of your circle of influence, and defining what you don't control, can help with realizing what things you ought to be fear and what things are outside your influence, and thus should be outside your concern (or at least unworthy of spending mental bandwidth on). When people start budgeting, they often can't control what they make, but they can control some of things they spend on. So focusing on spending, giving their money a job, and following the f…
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Nov 23, 2020
YNAB Named Fortune's 2020 "Best Small Workplace" with Taylor Brown, CTO
Jesse and Taylor Brown, YNAB's Chief Technology Officer, celebrate the company being named Fortune's #1 Best Place to Work in Small Business in 2020. Jesse and Taylor take a walk down memory lane, reminiscing about the very early days of YNAB and how they much they've grown since, both as a company and as leaders within the business. The moniker "best place to work" doesn't just happen, but rather is a consequence of Jesse and Taylor's work in defining their company and employee values and consistently acting on those principles over the years.
Of course winning this honor is due to the work of everyone at YNAB, especially the operations team (lead by COO Chance Gurr) whose responsibility is making sure YNAB is a rewarding place to work. So, Jesse and Taylor wish to thank everyone at YNAB for their hard work and for embodying the company's values every day.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 16, 2020
Think Like An Entrepreneur: An Interview with Ramit Sethi (I Will Teach You to Be Rich)
Jesse sits down with acclaimed finance writer and entrepreneur Ramit Sethi for a long chat about the mindset of financial success, how to think like an entrepreneur, and why the most important question about personal finance you need to be able to answer is... "Why?".
Ramit is the author of the 2009 New York Times Best Seller, I Will Teach You to Be Rich, and the founder of Earnable, a community of entrepreneurs in which he coaches people how to think like entrepreneurs, develop viable business ventures, and market effectively to grow their business.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 9, 2020
Budgeting with Self-Care with Robyn Conley Downs
Jesse interviews wellness expert, educator, and entrepreneur Robyn Conley Downs about applying her strategies for wellness to making lasting change in budgeting.
You can find Robyn here:
Real Food Whole Life: https://realfoodwholelife.com/about/
IG: @realfoodwholelife
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 2, 2020
Contribution Margin to Cover Life's Overhead
In the world of cost accounting, there's a concept known as contribution margin. Basically, it's how much you make on a product or service after you consider how much it cost to make that thing. The formula is revenue less the variable costs that go into making the product. Contribution margin is an important metric for businesses because it tells you whether you are making a profit on the things you sell. After all, it would do no good to sell a bunch of t-shirts for $18 a piece, if each of them costs you $20 to make!
Now, Jesse asks, what if we apply this concept to our life? We have jobs that earn us revenue. What do they cost to do? Time, obviously, but perhaps also driving/commuting, stress? The point is, the things that earn us money have a non-zero cost associated with them, and it's wise to keep track of that cost and make sure, at the end of the day, that we are using our time in a profitable manner.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Oct 26, 2020
You Are Building WEALTH
It's not a dirty word, so let's say it together -- wealth! At YNAB, we often use the words "save money," and it's a more approachable concept, something that seems achievable in the short term. Wealth can seem like such a far-off concept sometimes. But at the end of the day, that's what we're all trying to do, is to build wealth that will allow us to do more of what we want to do in life.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Oct 19, 2020
Just Settle In
While canning tomatoes from a bumper crop, Jesse realized the process was going to take a looooooong time. His wife advised him, simply, to "just settle in." Anything that yields great results in the future takes both upfront effort and perseverance. Whether it's gardening, putting up vegetables for the winter, or budgeting, you have to settle in.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Oct 12, 2020
Never Spend Your Emergency Fund Again
Jesse lays out a strategy for managing unknown expenses without continually dipping into your emergency fund. Traditional budgeting advice tells you to create an emergency fund for dealing with unforeseen expenses, but often people end up using their emergency funds for irregular, but foreseeable expenses -- things like new tires, new cars, A/C repair, etc. They don't happen regularly, maybe only every several years, but if you look into the future you know they are coming.
For YNAB'ers that are following Rule #2, Embracing Your True Expenses, these aren't true emergencies, and they are already covered in the budget. In the rare event of a true emergency that catches you off guard, Jesse recommends that rather than spending money out of your global emergency fund, set up a new category for that expense. Maybe it's a house repair that you had never encountered before. Make a new category for that type of repair, and start a new sinking fund for it like you do for other Rule #2 expenses…
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Oct 5, 2020
Are You Just Not Smart With Money?
Jesse tackles the defeatist attitude some people develop that they are just no good with money. As they say, comparison is the thief of joy, and we should add, it's very misleading when it comes to money! Watching what other people do with their money isn't particularly helpful or relevant to your own situation.
Bottom line, being smart with your money simply means knowing what you want your money to do, and allowing it do that for you. This is something anyone can do!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 28, 2020
Lifestyle Creep?
Recently someone asked Jesse about his thoughts on preventing lifestyle creep, a major supposed gremlin of budgeting. Jesse doesn't even like the question, and discusses why worrying about lifestyle creep is looking at budgeting in the wrong light.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 21, 2020
Mindfulness and Money: A Chat with a Meditation Expert
Recently Jesse received an email from a woman who claimed YNAB was really a program about mindfulness... just using money and budgeting as the entry point. So Jesse invited this woman onto the podcast to talk about the connection between mindfulness, meditation, and money. Welcome to Kathleen Slattery-Moschkau, a mindfulness expert, yoga instructor, and filmmaker currently residing in Madison, WI where she runs The Studio.
The Studio: https://www.thestudiomadison.com/about-us-2/
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 14, 2020
Progress Purchases
Let's face it, it feels good to buy things. That's not necessarily a bad thing, either. Spending on hobbies or other things that bring you value -- maybe a date with your partner -- makes you feel good for a good reason.
However, from time to time we need to check the rationale behind our purchases. Maybe you intend to start a new exercise regime, so you buy new shoes and clothes and perhaps a new journal as well to document your progress. But have you actually started the program yet?
Often simply purchasing something related to your goals can make you feel like you've made progress.... when, unfortunately, that's not really the case! Jesse calls these "progress purchases," and warns you to watch out for them!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 7, 2020
The Reluctant Partner is a Misread
We're all familiar with the situation. A person reads a book, learns a new skill, or discovers a method, and gets REALLY INTO IT. Brimming with enthusiasm, they share it with their partner and try to get them involved, only to be met by reluctance and intransigence. The reluctant partner is a common trope, even when it comes budgeting!
The idea that your partner is dragging their feet because they don't share your goals about budgeting and personal finance, however, is a false one. In Jesse's and the YNAB team's experience, the reluctant partner is often simply overwhelmed. They usually want to share the goals and aspirations of their partner, and share in the process of attaining them, but the speed and intensity of the habit changes may be too much.
So if you're just getting into YNAB, break it gently to your partner. Talk about your goals, get on the same page about your finances, then start talking about the process of getting there. Small steps are the key to change!
Sign up fo…
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Aug 31, 2020
Books I've Read - The Business Shelf
By popular request, Jesse flips through his office bookshelves and discusses the books he's read recently... and, well, some that he hasn't but is getting around to!
This week he covers books in the “business” category, ranging from marketing, advertising, management theory, team building, and customer service. Many of these books have had an influence on the way YNAB operates and its success.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 24, 2020
Books I've Read - The "General" Shelf
By popular request, Jesse scans though his office bookshelf and discusses the books he's read recently... and, well, some that he hasn't but is getting around to!
This week he covers books in the "general" category, basically anything that isn't specifically about business. Next week he will cover the books on his business shelf.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 17, 2020
Meet Naseema, The Nurse on FIRE
Jesse interviews a YNAB'er, nurse practitioner Naseema, about how she used YNAB and the four rules to pay off an extraordinary $200k of debt in just under two years, all while going through some tough life transitions.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 10, 2020
The Rule Three Escape Hatch
YNAB'er Elizabeth wrote into the podcast asking for clarification of Rule Three -- can you use it too often?
Simply put, If you aren't reaching your goals, Jesse says, you're misusing Rule Three. If you aren't saving the money you thing you should be saving, then Rule Three has become an escape hatch for your budget, instead of an empowering tool.
Scarcity is a powerful motivator for budgeting. Embracing the fact that you have limited dollars, and that you cannot rob from your future self to pay unexpected expenses today, means you will have to become comfortable saying "no."
If you'd like to write into the show, email Jesse your questions at podcast@youneedabudget.com.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 3, 2020
COVID Conquerors
With everything that has transpired this year, we could all use some positive news. Today Jesse highlights a couple of positive stories from YNAB users who have managed to save money and stabilize their financial situation despite job loss and salary cuts due to COVID.
Follow the four rules, and things will get better. Budgeting isn't the end-all-be-all, it's not the solution for everything, but it will help you make your financial situation better. Budgeting simply works!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 27, 2020
YNAB for Good
In light of the terrible events that have transpired in 2020, YNAB is launching a new initiative to help those in need. YNAB is partnering with non-profit organizations that work with marginalized communities on personal financial and financial resource issues. YNAB is offering licenses for its software for free to these non-profits, so those in need can benefit from YNAB's powerful budgeting tools.
If you work for a non-profit or know of one who could benefit from this program, visit https://www.youneedabudget.com/good for more details and how to sign up for the program.
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Jul 20, 2020
Atomic Budgeting Pt. 5: The Environment That Shapes You
Jesse wraps up the Atomic Budgeting series, based on the ideas in James Clear’s book Atomic Habits, with a look into how our environment shapes our decision making.
The world is awash in advertisements — billboards, store displays, TV, YouTube, etc — which aim to subtly influence us to buy products and services. It’s hard to avoid them, especially when you spend time in areas or websites where targeted ads can pique your interests and potentially cause you to buy things you otherwise wouldn’t have sought out. Even our social groups can influence our purchasing decisions. Whether your friends and neighbors are conspicuous spenders or frugal, their collective habits will become the normal behavior in your social circle.
So the last step in “atomic budgeting” is to be aware of your environment, and choose your friends and social circles wisely.
“Join a community where the normal behavior is the behavior you want.”
Sign up for a free 34-day trial of YNAB at www.younee…
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Jul 13, 2020
Atomic Budgeting Pt. 4: The Four Laws of Behavior Change
Jesse discusses James Clear's "laws" of how people make lasting changes to their behaviors and how they might apply to the YNAB'er looking to improve their budgeting habits.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 6, 2020
Atomic Budgeting Pt. 3: Becoming, Not Achieving
In the third installment of the atomic budgeting series, in which Jesse applies the principles in James Clear's book Atomic Habits to budgeting and personal finance, Jesse discusses the concept of becoming the person who has the traits you wish to have.
Typically when we think of making personal change, we set goals and then a process to achieve that goal. Yet, once we achieve the goal (if we do), does the change we made to achieve it continue on? Are the new habits long-lasting, or do we revert to our old ways? Too often, the latter proves true!
As Clear says, "every action you take is a vote for the type of person you wish to become." If you want to become a person who is smart with money, who is rarely stressed with financial concerns, and budgets with ease... then you must start identifying yourself as that type of person. Then prove it with your actions.
If you're a weightlifter, you lift weights. If you're a writer, you write. You cannot be the person you claim to be without d…
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Jun 29, 2020
Atomic Budgeting Pt. 2: Systems, Not Goals
Jesse continues with part two of the Atomic Budgeting series, applying the concepts in James Clear's Atomic Habits to budgeting and the pursuit of financial freedom.
One of the key concepts in Clear's book is focusing on building effective systems for achieving your goals, rather than on the goal itself. Goals are great things, but without a logical, replicable, and flexible system, you are unlikely to consistently achieve your goals.
YNAB's Four Rules comprise a simple, flexible, and replicable system for achieving the goal of freeing up financial resources to handle unexpected events and do more of the things you want to do in life. The Four Rules don't ask you to come up with a solid number of dollars to save each month, or a percentage; rather, they ask you to follow certain processes (like giving every dollar a job) that ultimately help you achieve the goal of saving money. By staying process-focused rather than goal or number focused, YNAB allows you "roll with the punches" and…
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Jun 22, 2020
Atomic Budgeting: Compound Interest
Jesse has become a fan of James Clear's Atomic Habits, in which Clear explains how small changes to your habits can build up to big changes in your life. Naturally, Jesse saw how atomic habits could work for budgeting too.
So for the next few weeks, Jesse will be covering several aspects of "atomic budgeting," starting with the power of compounding interest.
Atomic Habits by James Clear:
https://www.amazon.com/Atomic-Habits-James-Clear-audiobook/dp/B07RFSSYBH/ref=sr_1_2?dchild=1&keywords=atomic+habits&qid=1592096296&sr=8-2
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jun 15, 2020
Financial Wellness by YNAB
Jesse and the YNAB team are excited to announce a new service: financial wellness for businesses and their employees! For any company, big or small, YNAB will educate your employees on the most important yet often overlooked aspect of financial wellbeing… budgeting of course.
Financially stress-free employees are good employees. They are empowered, they have freedom to be creative in their life, and they are more productive as a result.
This is a FREE service for the business. You can find out more by going to:
https://www.youneedabudget.com/wellness/
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Jun 1, 2020
Daily Reconciliation and Gardening
The attentive gardener notices the small things. The way plants grow, flourish, and wither on a daily basis. He knows that weeds are easily dispatched when pulled daily. The gardener plays a long game, but sees each move in detail.
Budgeting is no different. The attentive budgeter notices small things, finds small efficiencies there, because she checks in often. She knows that it's easier to correct course when her budget is moving in the wrong direction, because she watches carefully and often. The daily reconciliation becomes a joy, not a chore.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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May 25, 2020
Doing Nothing Is Something
It's a common refrain in times of crisis. We must do something. But inaction is, in fact, always an option. Many times, especially when it comes to finances, it is a great option! Jesse reminds us that, in light of current economic conditions, it's perfectly OK to do nothing.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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May 18, 2020
Chickens, Fruit Trees, and Trellises
There's something growing at the Mecham household... and it's in the backyard! Jesse confesses he spent a good portion of his paternity leave preparing a garden with a handful of chicks, fruit trees, and a garden full of asparagus, cantaloupes, and other goodies.
As always, while exercising his green thumb Jesse was thinking about budgeting. Immediate gratification is rare in the natural world. Nearly everything worth having takes time, effort, and care to grow and develop. Chicks need to be fed and kept safe and healthy before they can grow into egg-laying hens. Fruit trees take years before they bear their first fruits. Yet these things, once harvested, can be so much more satisfying than, say, a generic carton of eggs at the store.
Budgeting is no exception to the rules of Nature. Good things come to those who wait, and steward their money well. But the good things are worth it.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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May 11, 2020
Windfalls and Uncertainty
After receiving several questions about what to do with windfall money during times of economic uncertainty (like these), Jesse tackles the topic in today’s episode. As always, but especially true nowadays, cash is king!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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May 4, 2020
YNAB and COVID-19
Freshly returned from paternity leave, Jesse discusses how YNAB has handled the coronavirus pandemic as a company. As always, his focus and the company's focus has been on giving the best budgeting advice they can.
Additionally, the YNAB team has written articles exploring how people can weather the financial storm in the wake of COVID-19. You can read the blog entries here:
https://www.youneedabudget.com/blog/
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Apr 27, 2020
Chasing Value
Jesse examines how the recent panic buying of food, home goods, and other staples highlights the intrinsic value of certain things that we take for granted. When demand for historically safe assets like bonds and gold falls, yet demand for household goods like flour and toilet paper soar, it shines some light on the practical value of things. In short, you can eat flour, but you can't eat a bar of gold!
In the future, Jesse encourages us to consider saving not only for future expenses and retirement, but also for some staples and basic goods for unexpected times.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Apr 20, 2020
Write That Gem Down!
Jesse muses on the impact the coronavirus will ultimately have on people and their habits. When society reopens, will people return to their previous habits? Or will they grow, having spent their time in isolation examining themselves and their priorities, their Rule Zero?
Jesse hopes that people do use this time to reflect, to re-examine their life and rediscover their priorities, and, most importantly, write down the wisdom that comes from that process!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Apr 13, 2020
Rule Zero Morphs Before Your Very Eyes
Last week Jesse discussed the importance of Rule #1, giving every dollar a job. Rule one is always important, but in uncertain times like these it takes on renewed significance. Jesse has often talked about the rule before the rule, though, the so-called Rule Zero.
Rule Zero is understanding what's important to you, why you're bothering to give your dollars a job in the first place. At the end of the day, to what end are you budgeting? What's the purpose?
In the wake of the pandemic and economic woes gripping the country, consider whether the answer to Rule Zero has become clearer to you. Perhaps in these times you can find not only the resolve to budget like you've never budgeted before, but also to clarify why you're budgeting in the first place.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Apr 6, 2020
You've Never Budgeted At A Time Like This
With the world at a standstill due to the COVID-19 pandemic, one thing is certain. We’ve never budgeted at a time like this!
Jesse offers some comforting words in this time of crisis, and reminds us to follow Rule #1: Give Every Dollar A Job. Never stop budgeting. Even if it’s only a week ahead, a day ahead, staying engaged and continually planning will give you the best chance to survive financially in these times, and, eventually, thrive. Budgeting is one area of our lives that we can control, in the midst of so many things we cannot.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Mar 30, 2020
The Commander's Intent
At YNAB there is a document called the Vision Doc, which spells out the “commander’s intent” for the company, how to behave and act on the company’s behalf. Employees must make many decisions on a day to day basis, but with a clear commander’s intent they have the freedom to make those smaller decisions while adhering to the company’s greater goal.
It’s useful to develop the same commander’s intent for your budget. With a clear goal and aim for the budget, it becomes easier to make those small, day to day money decisions that, as we know, can add up to big dollars over the course of a year!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Mar 23, 2020
Don't Be Average... You Can't Be Anyway
Jesse reads an excerpt from the book The End of Average by Todd Rose. In the late 1940's the Air Force had a dangerous problem on its hands -- aircraft of all kinds were malfunctioning and crashing at alarming rates. The Air Force brought in scientist Lt Gilbert S Daniels to diagnose the problem. Daniels discovered that the Air Force had designed cockpits based on thousands of physical measurements taken from its ranks of pilots, then averaged. Daniels ascertained that despite the rigor and breadth of the measurements, not a single active pilot in the Air Force actually matched up with all the averages. In short, the Air Force had designed their planes around an average pilot that didn't actually exist, causing pilots to have trouble controlling their planes.
We can take a lesson from Lt. Daniels discovery when it comes to our budgets. It's tempting to come up with an average for each line item, and compare your budget to someone else's or perhaps even a regional or national "average…
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Mar 16, 2020
Budget. No, Budget!
We often talk about the budget as if it’s a noun. Is it “in the budget”? Did you check the budget? When you treat the budget as a noun it takes on a rigid, inflexible quality, like the budget is set on stone tablets.
But what if we thought about “budget” as a verb? As an action, an activity, budgeting becomes a process, a thing which can change and evolve with each iteration.
Jesse discusses the importance of budgeting and not just setting a “budget.” Thanks to Hannah who shared this revelation in her video My 5 YNAB Beginner Mistakes on the YNAB YouTube Channel.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Mar 9, 2020
Wait!
Money is made to spend. We all want something, and that something usually costs money. Some of the “wants” are fleeting desires, spurred by mood or peer pressure or perhaps just a whim. Other “wants” are genuine desires and items or experiences that actually add value to your life.
Whichever it is, Jesse argues that you should wait. Wait before you buy anything, even the genuine wants. For one thing, waiting helps you parse out the genuine from the ephemeral.
Jesse keeps a running list of wants on his phone. If he wants something, he adds it to the list rather than buying it right away. If he still wants it when he checks the list again later, he buys it. Many times, however, he will find things on the list that he hasn’t thought about in a while, and that he really doesn’t want. So the list can act as a simple filter and a sanity check for purchases.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
Also, go to https://www.youneedabudget.com/bootcamp/ t…
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Mar 2, 2020
Doing Nothing Is Something
There's a cliche in TV and film whenever something bad happens in a crowd of people, inevitably someone in the crowd shouts "why doesn't someone do something!" This is usually the cue for the superhero to enter stage right. We hear this sentiment all the time, not just in bad cinema, but in real life. Anytime a problem reaches a level of widespread concern -- whether it's a local neighborhood issue or a national one -- something must be done about it.
Some problems have no easy answers, and we often forget that inaction is a valid response. The same goes for our budgets! Not every budget problem can be solved right now. Sometimes you don't have the right information, or enough of it, to fix every issue in your budget. That's OK. Sometimes your budget is working just fine, and there's no reason to tinker with it. That's OK too. Don't fix it if it ain't broke!
Whatever your situation, remember doing nothing is still doing something.
Sign up for a free 34-day trial of YNAB at www.youne…
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Feb 24, 2020
Budgeting for Lady Luck
They are prepared for emergencies, for setbacks, for unexpected life changes. In fact emergencies don’t seem to happen as often to them. YNAB’ers are a lucky set, it seems, but maybe there’s more to the truth than a roll of the dice.
Survivorship bias is a logical fallacy in which you focus on a group of people or things that made it past a selection process, without considering those that failed. This bias can lead to a number of erroneous conclusions. In finance, survivorship bias occurs when evaluating the returns of, say, companies in a certain sector of the economy. If you only look at current technology firms, you might look at the technology sector and determine that it radically outperforms the market… but those same returns may look very different if you consider all the technology firms within the same time period that went bankrupt.
Survivorship bias appears everywhere in life, and YNAB’ers are no exception. At first glance it may seem like those in good financia…
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Feb 17, 2020
Opting Out of Credit Cards (A Bit)
In episode 411, Jesse decried the ubiquity of credit cards and the fact that they enjoy a number of benefits that plain old debit cards do not... at the risk of getting yourself in debt. Since then, he's learned of a few strategies for managing fraud risk with debit cards.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
Also, go to https://www.youneedabudget.com/bootcamp/ to sign up for the YNAB Debt Bootcamp!
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Feb 10, 2020
Scratching the Gambling... Er, "Investing" Itch
Jesse admits he's got an itch to scratch. He likes to invest gamble in the stock market from time to time, using an app that allows him to trade at the swipe of a finger.
At least he's honest -- it's gambling with fun money, not investing. And that's the key. It's money he can afford to lose, and it's not much.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
Also, go to https://www.youneedabudget.com/bootcamp/ to sign up for the YNAB Debt Bootcamp!
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Feb 3, 2020
Optionality and Managing Your Fixed (or Growing) Expenses
Wealth is not a dirty word. After all, wealth can allow us to do many interesting and fulfilling things with our lives. At the very least, it provides options, opening up the range of possibilities before us. Simply put, wealth can allow us to live the life we want to live.
The only problem is that the accumulation of wealth is often followed by increasing expenses. Some of these are obvious -- a bigger, newer house usually costs more than a smaller, older one -- while others are insidious. A larger house requires more energy to heat and cool, more time and effort to clean and landscape, and more things to fill it up. That's just one example. We could say the same about cars!
Left unchecked, these growing expenses can once again eat into our wealth, robbing us of the optionality of wealth. As Thoreau once wrote, "he who owns little is little owned."
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
Also, go to https://www.youneedabudget.com/bootcamp/ to sign up for…
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Jan 27, 2020
Optionality & Why You Should Follow Rule Two Instead of Paying Down Debt
Save money for known future expenses, or pay down debt? It's a challenge many people face while trying to eliminate their debt. It's a conundrum too -- you could take your savings and pay down debt now, or hold onto to those savings for the new tires you know your car needs next month, or the Christmas gifts you want to buy for the family. If you do that, though, the debt balance stays the same while you continue to pay interest...
Jesse argues that optionality is the key here. Obeying rule #2 -- embracing your true expenses -- means setting aside money for those known expenses and eventualities in your life. It's tempting to pay down as much debt as you can now, but setting aside cash for your true expenses gives you options.
What if your true expenses are bigger than you anticipated? What if you get hit with unexpected expenses on top of that? If you've set aside the cash, you are in a position to handle those expenses when they come. If you've already used the cash to pay down deb…
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Jan 20, 2020
Incentives and Your 401(k)
Jesse reflects on a Senate bill -- now signed into law as the Setting Every Community Up for Retirement Enhancement (SECURE) Act -- which will require a greater amount of employers to offer 401(k) plans to employees. The new law also makes it easier for annuities to be included in 401(k) offerings by easing the fiduciary rules around fees and expense ratios.
401k) plans are excellent vehicles for saving for retirement because they allow employees to put away a lot of money every year -- up to $19,500 in 2020. Some employers offer matching on 401(k) contributions, further boosting savings rates.
However, the inclusion of more annuities in 401(k) plans has a darker motivation. Annuities typically charge higher fees than mutual funds and index funds -- sometimes a percentage point or more -- making them an inefficient and expensive way to save for retirement for most people. On the other hand, they are very profitable for insurance companies! Not surprisingly, insurance companies lobbie…
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Jan 13, 2020
Opting Out of the Credit Card Game
For better or worse (probably worse), credit cards are a major part of our financial world now. Cash is becoming less and less convenient to use every year, and debit cards continue to lack the same level of fraud protection that credit cards enjoy.
This isn't coincidence either. Jesse attended a "payments trends" conference in 2019, where the main topic was how to make payments easier, to remove as much friction as possible from the process of buying things. Why? Simply put, when you spend more money, more often, payment vendors make more money.
The problem is, you can't win the credit card game. Not only do payment vendors make money when you spend, the banks that underwrite credit card debt know (because they have studied human behavior) that when you swipe a credit card, you tend to spend more money. Credit card points and rewards are carefully designed to entice you to spend more money, because banks know that you will likely carry higher debt levels with a credit card.
So if y…
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Jan 6, 2020
January Burndown 2020
It's time to blow it all up! Every January, Jesse takes time with his family to "blow up" his budget and all the assumptions that drive it. He takes a fresh look at the dollars in the budget, and starts to question everything.
Need to set aside $400 for a new set of tires in March? That's a responsible Rule #2 line of thinking. But the burndown is your chance to think deeper... do we even need a car? Could we sell it and ride our bikes to work instead?
This is your time to think big, re-evaluate your priorities and life goals, and then question everything about your money. Nothing should be off the table at this point, because you're just talking. In the process, you may discover that your priorities have shifted, and it's time to take some new steps with your budget.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
Also, go to https://www.youneedabudget.com/bootcamp/ to sign up for the YNAB Debt Bootcamp!
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Dec 31, 2019
The YNAB Debt Bootcamp
If you made it through the last few weeks, you know why Jesse hates debt and why you should too!
Start the New Year by putting those feelings into action. Jesse has created a "debt bootcamp" for YNAB users to help you get serious about getting rid of your debt for good. Best of all, it's FREE for all YNAB software subscribers.
The Debt Bootcamp will be an intense, 8-week challenge to get rid of as much debt as possible. The camp will be run through a private Facebook group where you can stay accountable with other YNAB'ers and share your successes and challenges.
Go to https://www.youneedabudget.com/bootcamp/ to sign up now!
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Dec 30, 2019
Why I Hate Debt Pt. 4: The Corporations
The corporations are playing a game, and you can't win. So opt out and stop playing the game! In the part 4 of the "Why I Hate Debt" miniseries, Jesse explains how behind every credit card is a clever system of points, travel miles, and other "free" rewards designed to keep you spending and in debt.
Credit cards are a very profitable industry. Would banks and finance companies be giving away rewards if they weren't making a profit from it? Of course not! They've got the data, they've studied the statistics, and they know people will drive themselves into debt, where they can rack up fees and interest.
So join Jesse, stop playing the game, and start hating debt!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Dec 23, 2019
Why I Hate Debt Pt. 3: Cost of Opportunity
Jesse hates debt, and you should too! In Part 3 of anti-debt miniseries, Jesse argues that debt is not just a drain on our cash flow and creativity, it also restricts our future opportunities!
The burden of debt keeps us from realizing our full potential in many ways -- starting a business, taking a lower paying job for more fulfilling work, moving to a new state or country -- often in the early phases of life when we are most energetic and open to growth.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Dec 16, 2019
Why I Hate Debt Pt. 2: Constraints & Creativity
In Part 2 of the Why I Hate Debt miniseries, Jesse explains why debt is a non-negotiable for him, and why is should be for you too.
At 22 years old, trying to finish his Masters degree and expecting his first child, Jesse found himself caught between two non-negotiables: 1.) Living without debt, and 2.) Allowing his wife to quit work to focus on raising their child. The problem? They didn’t have enough money to last until Jesse started working his new job after graduation, even living a very frugal existence.
At this point, it would have been so easy to simply sign for a student loan to cover the shortfall. It was only about $7,000. Other students around him were borrowing far more. The interest rates were low, the payback period would be short… debt was the easy way out.
But choosing to borrow would have blinded Jesse to the possibility of another solution, another way to make up the shortfall. The constraints of his non-negotiables led him to start selling his budgeting spread…
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Dec 9, 2019
Why I Hate Debt Pt. 1: Cash
Jesse hates debt, and you should too. Debt service constricts our cash flow, limits out ability to do other things like savings and investing, and generally introduces more stress into our lives. In this first part of a mini-series on debt, Jesse makes a case for living completely debt-free.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Dec 2, 2019
Handling Wildly Variable Income
Some of you may be thinking, YNAB sounds great, but what if I don't get a regular paycheck? How am I supposed to budget with that?
Well, first off, you definitely need a budget! Planning to fund your expenses in future months becomes more critical the more variable your income is.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 25, 2019
A Business Podcast?
Jesse is thinking about launching a separate podcast to discuss small business, internet marketing, and how you can use YNAB to manage your business cash flow, and he wants to know what you think!
Would you be interested in a business-focused podcast? What kind of topics would you like to hear about?
Email Jesse at podcast@youneedabudget.com and share your thoughts!
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 18, 2019
Why?
Jesse asks the most important question about your reasons for getting out of debt, saving money, and achieving your financial goals. Why?
Why do you do it? What's the reason behind the goals? If you could write a mission statement for your life, what would it say? Answering the simple question "Why?" might be the most important thing you do after you complete the blocking and tackling of paying off debt and building an emergency fund.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 11, 2019
Sowing the Seeds of FI
"FI" is an acronym that has steadily grown in popularity over the last decade, though the concept is much older than that. It stands for financial independence -- some people call it early retirement (the longer acronym FIRE stands for financial independence, retire early) -- but the idea is simple. Live below your means, drastically increase your savings rate and accumulate enough wealth to "retire" or perhaps better said, until you can do what you want to do.
Time and savings rate are the key components of financial independence. What if you could save half of everything you make? What if you started doing that from the beginning? Jesse shares some lessons he's trying to instill in his kids as they take their first steps toward financial independence.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Nov 4, 2019
Arbitrary Milestones
It's common to set milestones for paying down debt. They're usually big, round numbers like $500, $1k, $5k, $10k. At the end of the day though, the goals are arbitrary. It's just a number, a stepping stone, toward the greater goal.
So if the day to day grind of fiscal responsibility is getting to you, change your milestones! Maybe it's $749, or $362.54. It's all arbitrary, right? Have fun with the game, and make it work for you. Set a new milestone -- whatever you like -- and celebrate when you reach that new number.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Oct 28, 2019
Categories Below the Line
How do you order your categories? What's on top? What's on bottom? And how did you decide that?
Categories are easy to order once you understand your priorities. Rent, utilities, food -- these are non-negotiable. You can and should, however, drill down into the details of each category and ask yourself whether you could live without some of the expenses in that category. You need utilities to live, clearly, but if pushed, what would you keep and what would you cut? Could you live without internet if you had to?
Once you understand which categories sit above the line (necessities) and which sit below the line, then you can total up how much you spend on "below the line" items. Then ask yourself: do you want any of this money to go to above the line items?
Try this exercise to clarify your budget and see whether your budget is in line with your priorities.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Oct 21, 2019
Nickeled and Dimed
Why do we become desensitized to the upticks in price of just about everything?
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Oct 14, 2019
Sure We Could. If We Had To
"We could spend less if we wanted to."
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Oct 7, 2019
2FA FTW
New feature alert: two factor authentication
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Sep 30, 2019
Everyone's a Lender
Everyone is getting into the lending money game.
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Sep 23, 2019
Payday Lender...Apps
Jesse discusses payroll advance apps.
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Sep 16, 2019
Fixing the Paycheck to Paycheck Cycle
Jesse discusses payroll advances in relation to age of money.
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Sep 9, 2019
Rule Four and Waistlines
Jesse goes back to basics and breaks down YNAB's Rule Four: Age Your Money
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Sep 2, 2019
Rule Three is War
Jesse goes back to basics and breaks down YNAB's Rule Three: Roll With The Punches
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 26, 2019
Rule Two Broken Down
Jesse goes back to basics and breaks down YNAB's Rule Two: Embrace Your True Expenses
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 19, 2019
Rule One Broken Down
Jesse goes back to basics and breaks down YNAB's Rule One: Give Every Dollar A Job.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Aug 12, 2019
DIY FTW
How do we curb the immediacy bias with DIY?
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Aug 5, 2019
Singular Focus on the Shovel and its Size
How many dollars are you sending to your retirement fund?
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Jul 29, 2019
Testing Rounding Up
Jesse reviews the automated investing app, Acorns.
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Jul 22, 2019
Is it Going Up?
The rock solid measure of whether or not you're succeeding
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 15, 2019
It's for the Children
Jesse takes issue with a phrase we use when it comes to spending money on children.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 9, 2019
Bonus Episode: Kristy Shen and Bryce Leung Interview
Jesse interview's authors and married couple Kristy Shen, Bryce Leung about their book—available today—Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 8, 2019
Should You Start Over
One simple question—should you start your budget over?
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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Jul 1, 2019
The Clothing Credit Card Experiment
A follow up to episode 331, Sacreligious Budgeting.
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Jun 24, 2019
The Ideal Budget
Data and the ideal budget.
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Jun 17, 2019
A Report on Manual Entry
A follow up to episode to 365 on manually entering transactions.
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Jun 10, 2019
Bulking and Cutting
How is a budget like strength training?
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Jun 3, 2019
A Thin Slice of Cheese
There are two sides to every slice of cheese.
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May 27, 2019
That's Progress
Simple benchmarks for budgeting progress
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May 20, 2019
Is Wanting It Enough
A road trip, a Tesla and a story about Mr. Money Mustache
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May 14, 2019
Bonus Episode: Ramit Sethi Interview
Jesse interview's author Ramit Sethi about the update of his 10 year old book, I Will Teach You To Be Rich.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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May 13, 2019
Oxygen Masks
Ladies and gentlemen, as we start this episode, please make sure your seat backs and tray tables are in their full upright position
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