Spendfulness: An Origin Story
The Jesse Mecham Show
Spendfulness is the new word around YNAB, but the concept goes back to the beginning of the company... and even before the company itself. In today's episode, Jesse recounts the very early days of YNAB, when the budgeting method was just a spreadsheet. Jesse realized that the spreadsheet was enforcing a set of behaviors, or "rules," around money and that those rules were the foundation of what is now referred to as the YNAB method. YNAB is more than a spreadsheet, and more than a software tool, it is a set of principles for managing money and, more importantly, learning about yourself. Knowing...
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What I've Learned from Years of Experimenting with Money
The Jesse Mecham Show
Jesse has a long history experimenting with money. From rating every meal he and the family ate out, to "hyperbudgeting," to not budgeting at all... he's run an experiment almost every year for the last several years to see how his habits affect his financial planning. In today's episode Jesse recaps the experiments he's done, how they went (good and bad), and reminds us that personal finance is, well, personal. Watch The Jesse Mecham Show on Youtube: Got a question for Jesse? Send him an email: Sign up for a free 34-day trial of YNAB at Follow YNAB on...
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How to Be Spendful When the World Is on Fire
The Jesse Mecham Show
If the world seems like it's on fire right now... it may be true. But then again, the world always seems like it's on fire, at least depending on who you ask. If you ask the news, it certainly is! Fortunately, the YNAB method -- giving every dollar a job and working through the 5 Questions -- can bring peace and calm to your finances. Watch The Jesse Mecham Show on Youtube: 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/X: Tik Tok: Tickets to YNAB Fan...
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Delete Your Emergency Fund
The Jesse Mecham Show
On the surface, emergency funds sound like a very prudent idea. You set aside cash for unknowable, unforseeable events so that you aren't strapped when you really need it. We're not disagreeing with the idea, but an emergency fund is somewhat counter to the core principle of YNAB: giving every dollar a job. In an emergency fund, dollars are given a job, but it's a vague one. Jesse likens it to a football coach yelling at his defense to "just stop the other team from scoring!" The coach is identifying the basic goal of the game, but there's nothing specific to help the players actually...
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Are Your Savings Making You Stingy?
The Jesse Mecham Show
All money is meant to be spent, it's just a matter of when. Some people get caught in a cycle of amassing savings with no clear goal of how it is to be spent. Jesse shares an example from his wedding of how the desire to save money can backfire, and demonstrates how having a plan for your money, whether it's in the near future or distant future, is the most important thing. As we say at YNAB, give every dollar job. Watch The Jesse Mecham Show on Youtube: Got a question for Jesse? Send him an email: Sign up for a free 34-day trial of YNAB at ...
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Stop Budgeting Dollars You Don't Have
The Jesse Mecham Show
YNAB only asks that you follow one rule with your money, the golden rule of money, if you will -- give every dollar a job. And within that statement is implied that you must give every dollar you have a job. Many people get in trouble when they start planning for money they expect to come but don't have yet. There be dragons! Looking at the money you have right now, and asking yourself "what does this money need to do between now and when I get paid again?" focused you on reality, and avoids asking too many what-if questions about the future and various contingencies. And it's simple....
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Am I Spendy or Spendful?
The Jesse Mecham Show
Jesse relates a story of a couple looking at a piece of gym equipment posted for sale at their local gym. It was expensive, and Emily's gut reaction was "no, it seems spendy." After some reflection she told her husband they should talk about it more, because maybe it was really a spendful purchase. We are faced with decisions like these all the time. Without a plan, anything can seem spendy, even good things we want to spend our money on. Likewise, we can end up spending on things we don't really care about. Then there's the question "can I afford it?" that plagues us. These swirling,...
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These 5 Questions Will Rewrite Your Financial Future
The Jesse Mecham Show
YNAB only has one "rule" for managing your money, and that's to give every dollar a job. This is easier said than done, however, so to help with this task, Jesse presents 5 questions to clarify what you want to do with your money: Reality: What does this money need to do before I’m paid again? Stability: What larger, less frequent spending do I need to prepare for? Resilience: What can I set aside for next month’s spending? Creation: What goals, large or small, do I want to prioritize? Flexibility: What changes do I need to make, if any? Watch The Jesse Mecham Show on...
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You're Already Talking to Your Kids About Money
The Jesse Mecham Show
You've heard the term "monkey see, monkey do," and it's true of kids and money too -- and probably not in the ways you expect! Jesse shares a couple lessons about kids and money he's learned from parenting seven children, and how kids often learn as much or more from the things you do with your money rather than what you say about money. What you say matters too, however! The main takeaway is to be thoughtful about how you engage with money, becuase your kids are listening (and watching). Watch The Jesse Mecham Show on Youtube: Got a question for Jesse? Send him an...
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I Regret Paying Off My Mortgage
The Jesse Mecham Show
When Jesse was 25, he wrote down a goal on a notecard: to live in a paid-off house by the time he was 30. He thought that owning his house free and clear would make things feel different, give him a sense of security and freedom. At the end of the day, though, the mortgage really wasn't that big of a deal -- it was just another bill to pay. There was less satisfaction to owning his home outright than he thought there would be, and some regret when he realzied he could have invested the extra mortgage payments somewhere else and made far more return. You may not have the same outlook on...
info_outlineBreaking news! On November 2, 2023 Intuit announced that it would be shutting down Mint, a popular personal finance app it acquired back in 2009. In January 2024, millions of users will be left looking for a replacement budgeting app. Intuit is directing users to its Credit Karma service, but it's unclear yet whether it will offer the budgeting and expense tracking features Mint was known for.
YNAB, however, still remains! Jesse points out that YNAB may not be the right solution for every Mint user -- after all, YNAB aims to help you change your behavior and thinking around spending, not just track your expenses and produce pretty graphs. As Jesse puts it, YNAB is like the movie Minority Report, where robots can predict the future and prevent crime before it happens. Mint, on the other hand, is like an episode of CSI, where there's a dead body, and everyone is trying to figure out why it happened. Mint is good at tracking expenses and telling you what happened in the past, but it leaves it up to you to determine why those things happened and how to prevent problems in the future. YNAB encourages you to create a plan for your dollars and anticipate future expenses, so that you can solve financial problems before they happen. And, because life is complex and ever-evolving, YNAB helps you roll with the punches and adjust your plan as you go. Oh, and YNAB won't try to sell you on credit cards, pay as you go plans, or other debt either.
So if you have left Mint and are looking for a new, more powerful approach to your personal finance goals, consider YNAB!
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