You Need A Budget (ynab)

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial  

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial  

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial  

Jesse ran across a quote from one of his favorite authors, Nassim Taleb. In his book Antifragile, 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, J

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial  

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial  

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial    

"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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial  

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial  

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial

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 dete

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:  [email protected]     Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial

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: [email protected]   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial

In today's episode, Jesse answers questions from YNAB'ers including how to build the habit of checking YNAB before spending and how to slow down Jesse's speech patterns for UK listeners (there's an app for that!). A listener also sends in an interesting article about how airlines have essentially turned into banks via their elaborate reward points systems.   Ron Lieber on the YNAB Podcast (Episode #480) Apple Podcasts: https://podcasts.apple.com/us/podcast/you-need-a-budget-ynab/id477248343?i=1000515131147 Spotify: https://open.spotify.com/episode/2qh75uqa9uzQGggz7wwYiS?si=088cd75db8be4f01   Pocket Casts podcast player: https://pocketcasts.com   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   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial

Jesse answers your questions on today's show, including how big an emergency fund does a teacher need? A YNAB'er shares a recent talk from the chairman of the Electronic Payments Coalition which reveals the (surprise!) unscrupulous motivations of credit card companies. Another YNAB'er from India asks how to setup the budget when you have income and expenses in two different currencies.   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   Follow YNAB on social media: Facebook: @iYNAB Instagram: @youneedabudget Twitter: @ynab Tik Tok: @ynabofficial