loader from loading.io

Giving Future You A Bit More Negotiation Ammo

The YNAB Podcast

Release Date: 04/17/2023

A Fun Way to Do Fun Money show art A Fun Way to Do Fun Money

The YNAB Podcast

Jesse shares a fun way to handle "fun money" from long-time YNAB software engineer Kyle. Kyle suggests creating separate bank accounts for fun money with separate budgets as well. His method evolved from the desire to keep the visibility of fun money separate from his spouse, so they could 1.) take any judgment or guilt away from spending fun money, and 2.) spend on fun things for each other without ruining the surprise!   Ordinarily, Jesse advocates for simplifying your bank accounts as much as possible, but Kyle is a veteran YNAB'er and his method may be a fun experiment for you to try...

info_outline
The Utility (or Not) of the Month show art The Utility (or Not) of the Month

The YNAB Podcast

We organize our lives by the calendar, and the calendar is organized into months. It's no surprise then, that we tend to think of finances in terms of months -- monthly payments, monthly contributions, having 3-6 months of expenses saved. The month has a lot of utility, but it is an arbitrary division of time. Jesse examines how the month can be useful, yet also detrimental, to making money decisions.   Got a question for Jesse? Send him an email:   Sign up for a free 34-day trial of YNAB at   Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok:

info_outline
Maybe Just Buy the Thing (and Costco) show art Maybe Just Buy the Thing (and Costco)

The YNAB Podcast

Jesse waxes poetic about Costco and how simple their model makes purchasing decisions. He also brings up the point that we often spend a lot of time searching for the best deal, for that one hot tip that will maximize our dollars for a certain purchase. Our time and attention is a resource as well, and perhaps we should just go buy the thing, and be done with it.   Got a question for Jesse? Send him an email:   Sign up for a free 34-day trial of YNAB at   Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok:

info_outline
Let's Be Clear, I Hate Debt show art Let's Be Clear, I Hate Debt

The YNAB Podcast

Jesse delivers a good old fashioned rant about the evils of debt. While he may have softened his rhetoric over the past decade, Jesse is no less serious about his distaste for debt!   Got a question for Jesse? Send him an email:   Sign up for a free 34-day trial of YNAB at   Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok:

info_outline
Run Like You Stole Something (to HR) show art Run Like You Stole Something (to HR)

The YNAB Podcast

Well meaning companies will bring in financial advisors to extol the virtues of investing in 401ks and matching plans, while some of their employees are still living paycheck to paycheck. With YNAB, you can take control of your money and get off the paycheck to paycheck cycle, then run to HR and take that 401k match like you stole it!     Got a question for Jesse? Send him an email:   Sign up for a free 34-day trial of YNAB at   Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok:

info_outline
Money Is Chaotic, Money Is Boring show art Money Is Chaotic, Money Is Boring

The YNAB Podcast

Money can be chaotic, noisy, tinged with anxiety and fear. Or, with YNAB, it can be boring! At YNAB we strive for money to be boring, so that life can be rich, exciting, and full.   Got a question for Jesse? Send him an email:   Sign up for a free 34-day trial of YNAB at   Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok:

info_outline
Shock Absorbers show art Shock Absorbers

The YNAB Podcast

As the saying goes, "stuff" happens. Life throws curveballs, sometimes several in a row, and YNAB'ers prepare for this financially by following the Four Rules: Give every dollar a job Embrace your true expenses Roll with the punches Age your money Today's episode is mostly about rule #3. When you roll with the punches, you reassign money you have saved up for other expenses in the future to cover the unexpected expense you are facing right now. After working the method for a while, you'll build up more and more money in your categories, and therefore have more money available to cover...

info_outline
Category Tractor Beam, Sucked Me Right In show art Category Tractor Beam, Sucked Me Right In

The YNAB Podcast

Those categories that you love to spend in, those categories that suck you right in. What if you could increase your spending in that category by 50%? Jesse challenges you that you can in fact do this, by honing in on the things you love, and the things you don't. Spend less on the things you don't love -- not because you are cutting! -- but so that you can spend more on the things you love.   Got a question for Jesse? Send him an email:   Sign up for a free 34-day trial of YNAB at   Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok:

info_outline
Can You Plan to Be Spontaneous? show art Can You Plan to Be Spontaneous?

The YNAB Podcast

According to Jesse, absolutely you can! In fact, YNAB enables you to be more spontaneous. Planning your spending with YNAB doesn't mean locking your dollars into rigid categories that cannot change. It means setting aside money ahead of time for the things you don't know you want yet. Many people who thrive on spontaneity unfortunately end up in financial trouble, because they're never sure whether they have the money to afford their spur of the moment purchases and experiences. Using YNAB, however, you can set up categories whose only purpose is to hold money for spontaneous expenses, so that...

info_outline
Helping Savers Spend show art Helping Savers Spend

The YNAB Podcast

We tend to think of spending as a problem that needs to be solved, however YNAB encourages spending as a thing to be enjoyed, as long as that spending is in accordance with priorities and people understand the tradeoffs they are making when they spend. In the world of personal finance we also tend to think about people who are natural spenders, but they are natural savers as well, and YNAB can help them too! Jesse responds to a comment from a YNAB team member who identifies as a natural saver, who has used YNAB to learn to love spending money as much as she does saving it.   Got a...

info_outline
 
More Episodes

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 probably going to call a plumber out again. Time to assign money in your budget and plan for that!

 

This is a good, easy strategy for improving your Rule Two thinking, and put future you in a better financial position.

 

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