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You Need A Budget (YNAB) podcast

You Need A Budget (YNAB)

A weekly dose of just the right medicine to help you get out of debt, save more money, and beat the paycheck to paycheck cycle.

A weekly dose of just the right medicine to help you get out of debt, save more money, and beat the paycheck to paycheck cycle.

 

#648

Rule One and the Pursuit of Nothing

Jesse challenges the idea of constantly pursuing something financially. For many of us in the modern world, our default is to always be chasing something -- more things, more experiences, more retirement funds, more debt paid down. Some of these things are a net good, some... maybe not. Jesse reminds us that our financial life doesn't always have to be in pursuit of something. It's ok to just let your money support your life, and nothing more. Can you do that, just for a little while?   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

20 Mar 2023

03 MINS

03:31

20 Mar 2023


#647

Expensive Is a Lazy Word

When people say "that's too expensive," what do they mean really? That they can't afford it, that it costs too much for a certain group of people, that it costs too much on principle? Jesse relates Rule One to the word "expensive" and concludes that its meaning is too slippery to be a useful term for people following the Four Rules.   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

13 Mar 2023

03 MINS

03:19

13 Mar 2023


#646

Ask Jesse: Travel Hacking, Credit Cards, and YNAB'er Experiences

In this installment of Ask Jesse, Jesse answers questions from podcast listeners about travel hacking and credit card and debit card fraud protection. He also reads an experience from one YNAB'er who switched from using credit cards to debit cards.   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

06 Mar 2023

13 MINS

13:58

06 Mar 2023


#645

Rule One and DIY FTW

Jesse analyzes a recent situation in which he was planning to build something in his wood shop, when a friend remarked that he could buy the same thing a lot cheaper. While we talk about money all the time in YNAB, and frequently equate money with time, and discuss the tradeoffs of buying this thing versus that thing -- Jesse reminds us that we don't have to think of everything in terms of economic decisions. Sometimes you give dollars a job (Rule One) which is for sheer enjoyment.   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

27 Feb 2023

03 MINS

03:37

27 Feb 2023


#644

Debit vs Credit Card Smackdown (and a Rant)

In response to episode #603 "You Spend More Money with Credit Cards," many listeners wrote Jesse to pick a bone with his claim that the debit card was a superior way to pay for things. The arguments usually boil down to the assertion that credit cards have better purchase protection and fraud prevention compared to debit cards. Jesse addresses these concerns, and more, on today's episode.   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

20 Feb 2023

15 MINS

15:48

20 Feb 2023


#643

Ask Jesse: Save for Cars or Pay Down Mortgage, Debt Consolidation, and How Do You Know When to Spend...

Jesse answers questions from the YNAB mailbag, including whether a couple should save for new cars to replace aging vehicles, or pay down the mortgage faster, whether debt consolidation is a good idea, and how exactly do you know when it's ok to spend money?   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

13 Feb 2023

15 MINS

15:06

13 Feb 2023


#642

One Thing That Tells You You're Doing Money Right

Jesse shares one key indicator that you are budgeting and doing your money right.   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

06 Feb 2023

04 MINS

04:37

06 Feb 2023


#641

A Major Downside to Not Having Money Stress

Not having money stress is a GREAT feeling to have. But a YNAB employee, Katie, pointed out a downside to it -- people assume you make more money than you really do. Because who else would  have no money stress except people who are rolling it in?   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

30 Jan 2023

04 MINS

04:57

30 Jan 2023


#640

Ask Jesse: Doubling Income, Real Estate, Debit Card Fraud Prevention

Jesse fields more listener questions today, including what you should do when you double your income (teaser: there's really not a wrong answer as long as it's saving!), how to budget for real estate investments, and whether debit cards have sufficient fraud protection to use over credit cards.   Please keep your questions coming! Send them to: [askjesse@ynab.com] (mailto:askjesse@ynab.com)     Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

23 Jan 2023

08 MINS

08:40

23 Jan 2023


#639

Ask Jesse: More on Credit Cards, Tracking 401k in YNAB, and Paying Off Student Loans

Jesse answers listener questions about tracking 401k deposits in YNAB and how to strategize paying off student loans. Jesse shares his evolving thoughts about credit cards, and why the Mecham household will only use a single debit card for expenses in 2023.   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

16 Jan 2023

07 MINS

07:47

16 Jan 2023


#638

Now Burn It All Down Again

Last week Jesse urged YNAB'ers not to make any sudden or drastic moves to their budget. But you know it's the beginning of the year, and that can only mean one thing! It's time for a budget burndown.   Every year Jesse burns down his budget... er, plan, and examines every single assumption built into it. Do we really need to own a house? What if we lived in an RV for awhile? Do we need two cars? What if we sold one? Etc, etc. The point of this exercise is to question everything, and in the process, better understand what your non-negotiables are. In most cases, you'll likely put most of the categories you had back into your plan. But perhaps the burn down process helps you identify a couple areas that don't really serve you anymore, or dollars that could be more useful doing a different job.   So, get ready to burn it down!   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

09 Jan 2023

07 MINS

07:35

09 Jan 2023


#637

Don't Make Big Changes, People!

Happy New Year! We hope 2023 is a fruitful and productive year, financially and otherwise, for everyone. It's that time of year again, the time for resolutions, big goals, and new plans. Jesse urges you to pump the brakes, however, and DO NOT make big changes to your budget. Not right now. Just iterate on what you've been doing, and try to do a little bit better than last year.   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

02 Jan 2023

03 MINS

03:10

02 Jan 2023


#636

A Strategy for the Holidays in 2023

We hope you had a Merry Christmas and very happy holiday! If you didn't use YNAB to plan for this year's Christmas bill, that's OK, you can start now for next year! In January start saving for Christmas 2023 by putting aside one twelfth of the Christmas budget each month.   Jesse also has another exercise for you. Write a little note to yourself about what went well this Christmas, and what you want to do differently next time. Then set a reminder for that note to open back up in October 2023. You'll have forgotten by then, and you'll have plenty of time to prepare to make the next Christmas even better than the last.   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

26 Dec 2022

03 MINS

03:11

26 Dec 2022


#635

Every Gift I'm Giving Julie, Forever

Jesse shares some of the gifts he's given his wife, Julie, over the years, and why every year from now on the gifts will be made, not bought.   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

19 Dec 2022

06 MINS

06:47

19 Dec 2022


#634

Ask Jesse: Tracking 401k in YNAB, Early Retirement Budgeting, Advisors, and More

Jesse answers a grab-bag of questions from listeners, including whether it's a good idea to track 401k investments in YNAB (it's not), how to budget for early retirement, good books for learning how to to invest, and more.   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

12 Dec 2022

12 MINS

12:56

12 Dec 2022


#633

You Spend More Money with Credit Cards

It's a fact, you do. We know this because banks LOVE credit cards, and they're incentives for using credit cards rely on the fact that many people spend more money on credit than they would otherwise. Jesse meditates on the nature of credit card fees, incentives, and the game that banks play to get people to spend on credit.   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

05 Dec 2022

12 MINS

12:28

05 Dec 2022


#632

The Different Tenses of Money

Jesse riffs on the idea that money has different "tenses," that is, money's purpose is to be spent, and spending can happen in the past, present, or future. Debt is past spending, savings is future spending, and so on. It's an interesting idea, one that might help you better visualize the purpose of money in your own life, and how it aligns with your priorities.   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

28 Nov 2022

04 MINS

04:18

28 Nov 2022


#631

Rule One and Gratitude

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, you really can't be too grateful!   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

21 Nov 2022

03 MINS

03:34

21 Nov 2022


#630

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

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: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

14 Nov 2022

06 MINS

06:26

14 Nov 2022


#629

Ask Jesse: What's the Most Important Metric?

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: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a>   ... Read more

07 Nov 2022

05 MINS

05:15

07 Nov 2022


#628

The Last $300

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: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a>   ... Read more

31 Oct 2022

04 MINS

04:32

31 Oct 2022


#627

When Is Your Age of Money Enough?

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: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

24 Oct 2022

05 MINS

05:43

24 Oct 2022


#626

Rule Three Happens BEFORE Spending, Not After

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: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

17 Oct 2022

04 MINS

04:23

17 Oct 2022


#625

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

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. There are many agencies, charities, and non-profit organizations across the country that can provide resources, but finding them can be a challenge. So, Kerry helped create the Safe House app, which compiles all the local resources available to people in a single place.    You can find the app, and other resources, at <a href= "https://yoursaferplace.org">https://yoursaferplace.org</a>     Got a question for Jesse? Send him an email at: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

10 Oct 2022

29 MINS

29:16

10 Oct 2022


#624

Ask Jesse: Is All Money Just Savings?

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 exists to be spent -- sometimes now, sometimes tomorrow, and sometimes years in the future. But money that is not spent eventually is useless, so in that sense all "savings" is really just money waiting to be spent.   Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

03 Oct 2022

05 MINS

05:43

03 Oct 2022


#623

Budgeting for 8 Weeks Abroad with Chrissy Sebald

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: [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a>   ... Read more

26 Sep 2022

37 MINS

37:09

26 Sep 2022


#622

EP 17 Money Stories: Living Debt Free in Manhattan, Budgeting Wisdom from Mom, and More with Christo...

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 simplicity of the method and the precision of the software. Using YNAB, Christopher has been able to achieve many notable financial goals -- paying off his student loans and becoming debt-free while living in notoriously expensive Manhattan, purchasing a motorcycle he had wanted since he was a kid, and helping others improve their financial wellbeing through personal coaching and social media. Christopher also enjoys travel, and has learned how to "travel hack" his way through many trips using credit cards rewards. And, because he uses YNAB and reconciles daily, he pays his cards off monthly and never carries a balance!   You can follow Christopher on Instagram: <a href= "https://www.instagram.com/christopherjcampbell/">@christopherjcampbell</a>   Got a question for Jesse? Send him an email! [askjesse@ynab.com] (mailto:askjesse@ynab.com)   Sign up for a free 34-day trial of YNAB at <a href= "http://www.youneedabudget.com/">www.youneedabudget.com</a> ... Read more

19 Sep 2022

24 MINS

24:43

19 Sep 2022


#621

Simple Investing with Jeremy Schneider of Personal Finance Club

Jesse invites entrepreneur and avid YNAB'er Jeremy Schneider on to the show to help de-mystify investing for YNAB'ers looking to get started. Jeremy built the successful internet startup RentLinx, sold the company in 2015, and retired a couple years after at the age of 36. Jeremy then spent two years playing video games, traveling, coaching beach volleyball, and learning about what to do with all of his money. When the pandemic hit, he needed something to fill his time, so he decided to build a resource for other people to learn the fundamentals of investing and how to build their own nest egg.   Jeremy's pretty clear that there's no magic to good investment strategy. To build wealth you need to spend less, save more, and then invest using a simple, reliable strategy, such as investing in broad market index funds. He recommends using YNAB to help with the spending less money part, then teaches the rest in his Personal Finance Club.   Jeremy has a FREE 60-minute investing basics course as well as some fun and useful web tools to understand how investments can grow over time, the futility of trying to time the market, and more. <a href= "https://www.personalfinanceclub.com/">https://www.personalfinanceclub.com/</a>   For YNAB listeners, you can save $20 off the full Learn to Invest course using the discount code "YNAB" when you checkout. The code is good through October 2022! <a href= "https://www.personalfinanceclub.com/course/">https://www.personalfinanceclub.com/course/</a>     Got a question for Jesse? Send him an email: [askjesse@ynab.com] (mailto:askjesse@ynab.com)     ... Read more

12 Sep 2022

41 MINS

41:07

12 Sep 2022