The YNAB Podcast

Where Jesse Mecham obsesses out loud about spending purposefully, saving aspirationally, and giving joyfully. It all comes down to just four simple habits.

Ask Jesse: Heady Books and Final Settlement, Among Other Things 05/06/2024

Ask Jesse: Heady Books and Final Settlement, Among Other Things Jesse answers another round of questions from his inbox, including a number of suggestions for new books to read! 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: /episode/index/show/youneedabudget/id/31135388

It's Just No Way to Live 04/29/2024

It's Just No Way to Live It's not uncommon for people to remark to Jesse that they wished they would have found YNAB sooner. The four habits are such a powerful tool for bringing clarity to your money and joy to your spending. Today Jesse wants to remind you that regretting the past is no way to live! 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: /episode/index/show/youneedabudget/id/30999428

What's the Alternative? 04/22/2024

What's the Alternative? Jesse reviews the Four Rules and takes issue with those who say, "yeah must be nice to have extra money to make a plan with... everything I make is spoken for." It's true, there are some people who have a legitimate income problem. But this argument often becomes an excuse to not actually make plans for your money, to not try to follow the rules and start to get ahead on your expenses. After all, what's the alternative? 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: /episode/index/show/youneedabudget/id/30925338

Your Biggest Single Expense 04/15/2024

Your Biggest Single Expense Your biggest single expense is one you probably don't think about much... unless you're American and it's April 15th. You may think it's housing, or maybe education, or raising kids, but all those costs are dwarfed by the elephant on your income statement: taxes. We are taxed in hundreds of ways, some obvious like income taxes and sales tax, others more insidious like fuel tax, air travel tax, liquor tax, etc, etc. Jesse points this out to demonstrate something important -- you can be desensitized to almost any expense, even the single biggest expense in your life! Beginning Balance Podcast with Jesse and Mark Butler Apple: https://podcasts.apple.com/us/podcast/beginning-balance/id1569423517 Spotify: https://open.spotify.com/show/7APubdzXN2eeeMdNpCLkiy?si=75eb73f1ac0a49ba 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: /episode/index/show/youneedabudget/id/30811998

Let's Cut Spending! 04/08/2024

Let's Cut Spending! Let's cut spending! And then... what exactly? The all too common advice that you need to "cut spending" implies that your level of consumption is simply too high. That may or may not be the case, but in Jesse's experience and the thousands upon thousands of people YNAB has helped to regain control over their money, "spending less" is rarely the problem. Most people don't have a spending too much problem, they have a spending on the wrong things problem. For that reason, you'll never hear Jesse give advice to just "cut spending." 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: /episode/index/show/youneedabudget/id/30712393

Ask Jesse: Perfect YNAB, Tithing Confusion, and More Credit Card Comments 04/01/2024

Ask Jesse: Perfect YNAB, Tithing Confusion, and More Credit Card Comments Jesse answers another round of questions from YNAB listeners. Today someone asks whether there is such a thing as "perfect YNAB" use and if good enough use is OK (yes!). Another YNAB'er is confused on how to calculate tithes for business income, and, as always, there are some questions and comments about credit card rewards. 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: /episode/index/show/youneedabudget/id/30609018

Gaming the Credit Card System... Maybe 03/25/2024

Gaming the Credit Card System... Maybe Jesse answers a question from a listener who argues that becuase he carries enough cash to cover his credit card spending at all times, he is not riding the float and therefore is gaming the credit card companies. Jesse quotes Charlie Munger -- "show me the incentive, and I'll show you the outcome" (he actually said outcome not behavior) -- and observes that financial institutions have big incentives to encourage more spending, because spending increases their fees. So where there's an incentive, there's a behavior they want to encourage, and using credit cards is it. In Jesse's experience, ditching the credit card has made him less likely to impulse spend, and that experience is likely what financial institutions have figured out! 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: /episode/index/show/youneedabudget/id/30460183

Inherent Value Doesn't Exist 03/18/2024

Inherent Value Doesn't Exist Jesse argues that the common refrain of a thing having "inherent value" or "intrinsic value" is not actually a thing. As Jesse explains, value is a moving target, constantly shifting along with our desires and material circumstances. To a starving man, food is worth more than gold. To that same man well-fed, it can be worth little. We see this with our own money -- as our circumstances change, the categories we prioritze shift. Rule 3, roll with the punches, acknowledges the ever-shifting nature of our needs and desires, and challenges us to make trade-offs to materialize those changes in our financial plans. To that end, nothing has an inherent value, but rather a variable value, the only certainty being that it will fluctuate over time. Beginning Balance Podcast -- the show Jesse mentions has not aired yet, but will be coming soon! In the meantime, check out more of Jesse's musings about money here: Apple: Spotify: 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: /episode/index/show/youneedabudget/id/30412333

Ask Jesse: Lavish Praise and Woodchip Gardening (Sort Of) 03/11/2024

Ask Jesse: Lavish Praise and Woodchip Gardening (Sort Of) Jesse is back answering another round of questions from his inbox. Today he responds to listeners asking whether the Four Rules are really rules or rather habits, what his favorite time management tools are, and how to relate to a spouse uninterested in budgeting. Getting Things Done: The Art of Stress-Free Productivity Four Thousand Weeks: Time Management for Mortals 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: /episode/index/show/youneedabudget/id/30297598

Young Creatures Just Looking to Party 03/04/2024

Young Creatures Just Looking to Party Jesse shares a story from a YNAB'er who had a major mindset shift about money. For this person, money went from a stressful topic to envisioning it as "young creatures just looking to party." Imagining your dollars as little "you's," searching for ways to improve your life and live out your values takes away the fear and anxiety around money. 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: /episode/index/show/youneedabudget/id/30218553

Looking In the Mirror 02/26/2024

Looking In the Mirror Mirror, mirror on the wall... which category is the truest of them all? Over the last several weeks, Jesse has explored the idea that money is more than just a tool, it's a reflection of you. Your spending is a representation of your energies and your desires, and therefore a proxy for who you are. So, if you imagined the categories in your spending plan as a mirror -- what would that mirror say about you? Do you like what's in the reflection? 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: /episode/index/show/youneedabudget/id/30106228

Money Is Not a Tool 02/19/2024

Money Is Not a Tool One of the pervasive messages about money is that "it's just a tool," and Jesse takes issue with that! When money is reduced to a mere tool, like a wrench or a screwdriver, it invites people to be more careless with it, to use it then put it in a drawer and forget about it. Hearkening back to episode #650: It's You All the Way Down, Jesse reminds us that if a dollar is the product of your energies, then a dollar is you! You aren't just a tool -- you are a human, with desires and values which are reflected in your spending. In this light, then, money takes on a much larger role than merely "tool," and it should be treated with the importance and attention it deserves. 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: /episode/index/show/youneedabudget/id/29987803

Dire Straits, or Rolling In It, It's All the Same 02/12/2024

Dire Straits, or Rolling In It, It's All the Same Whether your bank account is looking bare and collecting dust, or flush with cash, the temptation is all the same: to run away from the money. The person in dire financial straits often wishes they had a bunch of money, because then they wouldn't have to worry about money. On the flipside, the person newly flush with cash is quick to forget about the money, because they feel like they have enough now. Inattention is a mistake, no matter how it happens! Send your question to Jesse: Sign up for a free 34-day trial of YNAB at Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok: /episode/index/show/youneedabudget/id/29899668

Ask Jesse: How to Plan with a Reluctant Partner, and Some Successes 02/05/2024

Ask Jesse: How to Plan with a Reluctant Partner, and Some Successes Jesse opens his inbox for another for round of Ask Jesse, where he answers emails from YNAB'ers about all things money, finance, and... well, life! In today's episode, one listener asks about how to deal with a reluctant partner who doesn't want to participate in the YNAB process. Other listeners share their successes paying off debt and gaining control of their money for the first time. Send your question to Jesse: Sign up for a free 34-day trial of YNAB at Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok: /episode/index/show/youneedabudget/id/29786038

A Sample of Interesting, Joyful Spending 01/29/2024

A Sample of Interesting, Joyful Spending Back in October 2023, Jesse asked listeners to look at their last ten transactions on YNAB and rank them on a scale from one to three, with one being spending that sucked joy from them and three being spending that sparked joy. Then he asked listeners to share their most interesting "three," the most interesting transaction that brough joy. Today, Jesse digs through the answers and discovers an interesting commonality -- the spending that sparked the most joy was spending on other people. Have a question for Jesse? Email him at: Sign up for a free 34-day trial of YNAB at Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok: /episode/index/show/youneedabudget/id/29688098

YNABers Share Their New Years Resolutions 01/22/2024

YNABers Share Their New Years Resolutions A few weeks ago, Jesse put out the call to share your New Years resolutions, as well as a guiding word for 2024 -- something to help you put your resolution into action day to day. Jesse received a number of great responses, and shares a sample of them on today's podcast. Good luck working toward your goals in 2024! Have a question for Jesse? Email him at: Sign up for a free 34-day trial of YNAB at Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok: /episode/index/show/youneedabudget/id/29571313

I Love Money 01/15/2024

I Love Money Jesse revisits his infamous experiment in which he essentially stopped budgeting for an entire year. The result from that experiment was that he and his family spent several thousand extra dollars that they couldn't account for, and even though the extra spending was not material to the family bottom line, it still bothered Jesse. Today, he hits on what exactly it was that bothered him. Managing money well, building a plan for spending, is virtuous, and virtue is something that you do, not something that you simply have. When the Mecham family stopped following the Four Rules, they lost the habit! Got a question for Jesse? Send him an email at: Sign up for a free 34-day trial of YNAB at Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok: /episode/index/show/youneedabudget/id/29454458

A Clarification on Goal Failures 01/08/2024

A Clarification on Goal Failures Anytime the word resolution comes up, there are naysayers claiming that they don't work. That goals don't work. Unfortunately a lot of people buy into that when they set a goal and fail to achieve it. Their failure leads them to believe that settings goals is a useless endeavour. Jesse offers some encouragement this year, for the goals you seek to achieve and those you fall short on. Tell Jesse about your goals for 2024! Send him an email at: Sign up for a free 34-day trial of YNAB at Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok: /episode/index/show/youneedabudget/id/29318573

Goals Are Awesome 01/01/2024

Goals Are Awesome As we embrace the New Year, Jesse challenges you to pick some goals and set some resolutions. Even if you fail, you will certainly learn some things in the process of chasing a goal, and that experience is invaluable! Tell Jesse about your goals for 2024! Send him an email at: Sign up for a free 34-day trial of YNAB at Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok: /episode/index/show/youneedabudget/id/29242668

Merry Christmas from YNAB 12/25/2023

Merry Christmas from YNAB Jesse wishes everyone a Merry Christmas, full of meaning and joy. Hopefully this is a day you can enjoy without worrying about money, because you've dutifully saved up for it all year, but if not -- you can always start working on next year. After your Christmas celebrations are over, create a Christmas target for 2024 and start putting a little money away now. And as Jesse says, the Christmas bill is a joyous one! 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: /episode/index/show/youneedabudget/id/29177903

Invest In Preparedness, Not Prediction 12/18/2023

Invest In Preparedness, Not Prediction Jesse ran across a quote from one of his favorite authors, Nassim Taleb. In his book , Taleb advises "invest in preparedness, not prediction," which also neatly describes the goal of YNAB. We cannot predict the future with any certainty, so it's folly to behave as if we can with our spending habits. What we can do, however, is prepare for the future by embracing our future expenses, and even though we don't know exactly when (or how much) those future expenses will occur, we can save up a pile of cash to handle them. Jesse gives the example of an old car. As his early 2000's Toyota Camry aged, he started dutifully socking away $150/mo to cover inevitable repairs as well as a replacement vehicle. Years later, he had enough for a replacement, but the car was still humming along. So in this case he did not successfully predict the future. He could have held off on saving that money and directed it toward something else. At the end of the day, however, by preparing for the day he needed a new car, Jesse had a pile of cash in his bank account. When that day didn't come, he still had lots of options, because he had the cash. If he hadn't prepared, and the car died earlier than expected... then he likely would have ended up having to borrow money for the car. This gets back to the idea of being "antifragile." Owing money is a state of fragility, because someone else has a claim on your future cash flows until you pay off the debt. It prevents you from using your cash to prepare for the future. 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: /episode/index/show/youneedabudget/id/29105083

A Quote from F.W. Boreham 12/11/2023

A Quote from F.W. Boreham Jesse ran across a quote from author F.W. Boreham the other day that resonated strongly: "We make our decisions, and then our decisions turn around and make us." Mr. Boreham described the goal of the Four Rules in one simple and effective sentence! Working the Four Rules to create a spending plan involves making decisons -- decisions about what you value and where you want to spend your money. Those decisions stack on each other and in turn lead you to financial freedom, peace, and, ultimately, more joy with your money. 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: /episode/index/show/youneedabudget/id/29000168

Ask Jesse: Selling a Rental Property, Buying a Car, and Pausing Retirement to Save? 12/04/2023

Ask Jesse: Selling a Rental Property, Buying a Car, and Pausing Retirement to Save? Jesse is back with another round of questions from his inbox, including whether or not a listener should sell her rental property, whether it's worth buying a new car to relieve the stress of sticking with an old car with problems, and if pausing retirement savings to get a month ahead on expenses is worth consideration. 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: /episode/index/show/youneedabudget/id/28897618

Giving the Old Bird to Money 11/27/2023

Giving the Old Bird to Money Jesse has been focusing on the joy of spending money lately, and one way to achieve joy is to simply give it away. In a sense, giving away money is the ultimate way to give money the bird, so to speak. It's an act of defiance, that you don't need it, and you aren't consumed by it. But mostly, it's an act of joy, to give it away freely because your spending plan is working and your needs and wants are met. 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: /episode/index/show/youneedabudget/id/28799098

It Has Nothing, and Everything, to Do with Spending 11/20/2023

It Has Nothing, and Everything, to Do with Spending "You need to spend less money." "Money's not everything." But what if you don't need to spend less money. And what if money is everything? In today's episode Jesse offers up the idea that money is you -- the sum product of your energies and desires -- and if that's true, then you don't need to spend less money. You need to spend more of you on you! The more you can engage with the question of "what do I want my money to do" the more joy spending can bring you, because ultimately that question is "what do I want to do?" 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: /episode/index/show/youneedabudget/id/28697348

You Didn't Quit. To Every Season... 11/13/2023

You Didn't Quit. To Every Season... Once again, the holidays are nearly upon us. If your spending plan hasn't gone to, well, plan then that is OK. Seasons are everywhere in life. We see them every year and we see them over periods of many years. Some seasons you're really engaged with your spending and some seasons you're not. But you didn't quit. Whether you need a fresh start, or you're trucking along and spending with joy, this is a season. 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: /episode/index/show/youneedabudget/id/28591523

Building Habits: Four of Them, Actually 11/06/2023

Building Habits: Four of Them, Actually At YNAB they're called the Four Rules, but as Jesse argues, maybe they are best described as habits! The four habits of budgeting... 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: /episode/index/show/youneedabudget/id/28516463

BONUS: Goodbye Mint, Hello YNAB 11/03/2023

BONUS: Goodbye Mint, Hello YNAB Breaking 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! 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: /episode/index/show/youneedabudget/id/28501211

Joy Is a Three 10/30/2023

Joy Is a Three Jesse invites you to play a game. Look at your last ten transactions and rate them 1 to 3: 1 = negative joy (sucked joy out of your life) 2 = neutral 3 = sparks joy There's one catch! You can only rate two of those transactions as neutral. Why? Because Jesse said so. Then share your most interesting 1's and 3's with Jesse! Email him at: Sign up for a free 34-day trial of YNAB at Follow YNAB on social media: Facebook: Instagram: Twitter: Tik Tok: /episode/index/show/youneedabudget/id/28412963

It's You All the Way Down 10/23/2023

It's You All the Way Down A dollar represents you. It is the product of your energies. Your labor and your brainpower creates products and services that you exchange for money, whether you work a job or run a business. Therefore, a spending plan is really a representation of YOU! It's you all the way down from your labors and thoughts to your dollars and how you choose to spend them. So spending wisely is not just about choosing the right things to buy, or saving for the future, it's about direct your energies -- yourself -- out into the world in the manner you want. 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: /episode/index/show/youneedabudget/id/28382540

The YNAB Podcast

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