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EP09 Money Stories: Carol Kissinger Was "Bad At Money," Until She Found YNAB

You Need A Budget (YNAB)

Release Date: 07/05/2021

Building Passive Income through Real Estate with Dustin Heiner show art Building Passive Income through Real Estate with Dustin Heiner

You Need A Budget (YNAB)

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.

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Investing 101 with Matthew: Terms You Need to Know show art Investing 101 with Matthew: Terms You Need to Know

You Need A Budget (YNAB)

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.

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You Might Be a Budget Nerd If... show art You Might Be a Budget Nerd If...

You Need A Budget (YNAB)

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!

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Financial Order of Operations show art Financial Order of Operations

You Need A Budget (YNAB)

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.

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The Financial Pressures of The Sandwich Generation with Jennifer Owens show art The Financial Pressures of The Sandwich Generation with Jennifer Owens

You Need A Budget (YNAB)

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?

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Behind the Scenes: A Random Chat with the YNAB Team show art Behind the Scenes: A Random Chat with the YNAB Team

You Need A Budget (YNAB)

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!

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How to Talk to Your Kids About Money with Anne-Lyse Wealth show art How to Talk to Your Kids About Money with Anne-Lyse Wealth

You Need A Budget (YNAB)

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.

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Behind the Scenes: Personal Finance Tips from the YNAB Team show art Behind the Scenes: Personal Finance Tips from the YNAB Team

You Need A Budget (YNAB)

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.

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Back to School, Back to Budgeting show art Back to School, Back to Budgeting

You Need A Budget (YNAB)

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.

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Behind the Scenes: The YNAB Team Shares Their Very Best Budgeting Advice show art Behind the Scenes: The YNAB Team Shares Their Very Best Budgeting Advice

You Need A Budget (YNAB)

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.

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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 initially she had to "roll with the punches" frequently as she would forget about irregular expenses, but as she made it through the first several months of budgeting it became easier to predict those and her budget became more stable.

 

Most importantly, Carol discovered in the process of budgeting with YNAB that some of her long-held preconceptions were really just not true. She believed for a long time she was simply bad at money, and nothing would change that -- it was just a part of who she was. After paying off every dollar of debt to her parents and building an emergency fund, she could no longer say that about herself, and her personal narrative changed. She wasn't just not bad at money anymore, she was good with money. This transformation has extended outside her budget too. Carol and her husband were always very messy housekeepers, she says, to the point where they didn't want to have company over. After going through the budgeting transformation with YNAB, they now have a much cleaner home!

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com