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Ask Jesse: How Do You Move On... From Budgeting?

You Need A Budget (YNAB)

Release Date: 06/20/2022

Lessons from the Bookshelf: What Jesse Has Been Reading Lately show art Lessons from the Bookshelf: What Jesse Has Been Reading Lately

You Need A Budget (YNAB)

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   Debrief to Win by Robert “Cujo” Teschner   Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies by Nik Bhatia   Dune by Frank Herbert   Four Thousand Weeks: Time Management for Mortals    ...

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Ask Jesse: So You Just Started Your First Real Job... show art Ask Jesse: So You Just Started Your First Real Job...

You Need A Budget (YNAB)

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...

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That Magical Moment (When You Really Want Something) show art That Magical Moment (When You Really Want Something)

You Need A Budget (YNAB)

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:   Sign up for a free 34-day...

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Ask Jesse: Kids, Allowances, and Cringey Purchases show art Ask Jesse: Kids, Allowances, and Cringey Purchases

You Need A Budget (YNAB)

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:   Sign up for a free 34-day trial of YNAB at

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Budgeting for the Nomadic Life show art Budgeting for the Nomadic Life

You Need A Budget (YNAB)

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....

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Ask Jesse: What's the Deal with Whole Life Insurance? show art Ask Jesse: What's the Deal with Whole Life Insurance?

You Need A Budget (YNAB)

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:   Sign up...

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Debt and Pay Later Plans: An Independence Day Rant show art Debt and Pay Later Plans: An Independence Day Rant

You Need A Budget (YNAB)

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...

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What If Your Coworkers Weren't Stressed About Money? show art What If Your Coworkers Weren't Stressed About Money?

You Need A Budget (YNAB)

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....

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Ask Jesse: How Do You Move On... From Budgeting? show art Ask Jesse: How Do You Move On... From Budgeting?

You Need A Budget (YNAB)

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   Send Jesse an email at: ...

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Mid-Year Check In: Are You Still Clear On Things? show art Mid-Year Check In: Are You Still Clear On Things?

You Need A Budget (YNAB)

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:   Sign up for a free 34-day trial of YNAB at

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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:

[email protected]

 

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