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Ask Jesse: What Should You Do with a Life-changing Windfall?

You Need A Budget (YNAB)

Release Date: 08/22/2022

Rule One and Gratitude show art Rule One and Gratitude

You Need A Budget (YNAB)

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,...

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What's the Most Expensive Thing You've Budgeted For? YNABers Share show art What's the Most Expensive Thing You've Budgeted For? YNABers Share

You Need A Budget (YNAB)

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

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Ask Jesse: What's the Most Important Metric? show art Ask Jesse: What's the Most Important Metric?

You Need A Budget (YNAB)

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

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The Last $300 show art The Last $300

You Need A Budget (YNAB)

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:  ...

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When Is Your Age of Money Enough? show art When Is Your Age of Money Enough?

You Need A Budget (YNAB)

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

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Rule Three Happens BEFORE Spending, Not After show art Rule Three Happens BEFORE Spending, Not After

You Need A Budget (YNAB)

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

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EP 18 Money Stories: Surviving Financial Abuse with Dr. Kerry Roarke show art EP 18 Money Stories: Surviving Financial Abuse with Dr. Kerry Roarke

You Need A Budget (YNAB)

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....

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Ask Jesse: Is All Money Just Savings? show art Ask Jesse: Is All Money Just Savings?

You Need A Budget (YNAB)

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...

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Budgeting for 8 Weeks Abroad with Chrissy Sebald show art Budgeting for 8 Weeks Abroad with Chrissy Sebald

You Need A Budget (YNAB)

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

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EP 17 Money Stories: Living Debt Free in Manhattan, Budgeting Wisdom from Mom, and More with Christopher J. Campbell show art EP 17 Money Stories: Living Debt Free in Manhattan, Budgeting Wisdom from Mom, and More with Christopher J. Campbell

You Need A Budget (YNAB)

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...

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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:

[email protected]

 

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