You Need A Budget (YNAB)

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

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 601_Rule_One_and_Gratitude.mp3
Category:general -- posted at: 12:00am MST

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

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 600_YNABers_Share_The_Biggest_Things_They_Have_Saved_For.mp3
Category:general -- posted at: 12:00am MST

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

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

 

Direct download: 599_Ask_Jesse_Most_Important_Metric.mp3
Category:general -- posted at: 12:00am MST

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

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

 

Direct download: 598_The_Last_300_Dollars.mp3
Category:general -- posted at: 12:00am MST

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

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 597_When_Is_Age_of_Money_Enough.mp3
Category:general -- posted at: 12:00am MST

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

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 596_Rule_Three_Happens_Before_Spending_Not_After.mp3
Category:general -- posted at: 12:00am MST

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 https://yoursaferplace.org

 

 

Got a question for Jesse? Send him an email at:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 595_Money_Stories_EP18_Kerry_Roarke_Financial_Abuse.mp3
Category:general -- posted at: 12:01am MST

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

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 594_Ask_Jesse_Is_All_Money_Just_Savings.mp3
Category:general -- posted at: 12:00am MST

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

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

 

Direct download: 593_Budgeting_for_8_Weeks_Abroad_Chrissy_Sebald.mp3
Category:general -- posted at: 12:00am MST

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: @christopherjcampbell

 

Got a question for Jesse? Send him an email!

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 592_Money_Stories_EP17_Chris_Campbell.mp3
Category:general -- posted at: 12:00am MST

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.

https://www.personalfinanceclub.com/

 

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!

https://www.personalfinanceclub.com/course/

 

 

Got a question for Jesse? Send him an email:

askjesse@ynab.com

 

 

Direct download: 591_Simple_Investing_Jeremy_Personal_Finance_Club.mp3
Category:general -- posted at: 12:00am MST

Jesse chats with Ben, a YNAB employee and "The Dollar Scholar" on TikTok, where he educates college students and grads on the intricacies of student loans. Ben walks through the recently announced student loan forgiveness program, how much debt can be forgiven for students or graduates with Pell grants and with traditional Federal student loans, and some of the forthcoming changes to income-based repayment plans.

 

Ben also reminds us that not all the details of the plan have been worked out yet, and there are still open questions regarding the legality of the program, as well as potential income tax implications at the state level. Consequently, he reminds us, don't count on those forgiveness funds until they actually hit your bank account!

 

Follow Ben the Dollar Scholar on TikTok:

https://www.tiktok.com/@thedollarscholar?lang=en

 

Did you YNAB is FREE for college students? Sign up here:

https://www.youneedabudget.com/college/

 

Got a question for Jesse? Send him an email:

askjesse@ynab.com

Direct download: 590_Student_Loans_The_Dollar_Scholar.mp3
Category:general -- posted at: 12:00am MST

School is back in session, and it's a good time to tune up the budget. Want to really nail it this year? Go back to the Four Rules, Jesse says, and simplify. Now is the time to close those extra bank accounts, the multiple credit cards, the three different brokerage accounts. Budgeting is all about helping you make better decisions, after all, and simplifying helps you do that too.

 

Did you YNAB is FREE for college students? Sign up here:

https://www.youneedabudget.com/college/

 

Got a question for Jesse? Send him an email:

askjesse@ynab.com

Direct download: 589_Nail_Back_to_School_with_the_Four_Rules.mp3
Category:general -- posted at: 12:00am MST

A listener writes the show to ask: what should he and his family do with a life-changing windfall? The listener has a mortgage, and a HELOC, and some savings goals such as saving for his kids' college education. The windfall amount is enough to payoff all these things, and in addition he has recently earned a large raise. While the windfall is a huge gift, he wants to be calm, reasonable, and disciplined with allocating it towards the family's financial goals. Jesse helps walk through the problem, and identify some emotionally driven questions one should ask in this situation.

 

Got a question for Jesse? Send him an email:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 588_Lifechanging_Windfall.mp3
Category:general -- posted at: 12:00am MST

Jesse shares a few book titles he has been working through lately, and how the lessons from Jocko's Exteme Ownership have been working their way through the Mecham household and YNAB. It's not all business books this time! Topics range from leadership to the history of money to science fiction.

 

Extreme Ownership by Jocko Willink

https://www.amazon.com/Extreme-Ownership-U-S-Navy-SEALs-ebook/dp/B0739PYQSS/ref=sr_1_1?keywords=jocko+willink+extreme+ownership&qid=1660506517&s=books&sprefix=jocko+willink+ex%2Cstripbooks%2C69&sr=1-1

 

Debrief to Win by Robert “Cujo” Teschner

https://www.amazon.com/gp/product/1732929815/ref=dbs_a_def_rwt_bibl_vppi_i0

 

Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies by Nik Bhatia

https://www.amazon.com/Layered-Money-Dollars-Bitcoin-Currencies-ebook/dp/B08T7T47HC/ref=sr_1_1?crid=ZYVYV927YTEG&keywords=layered+money&qid=1660506593&s=books&sprefix=layered+money%2Cstripbooks%2C60&sr=1-1

 

Dune by Frank Herbert

https://www.amazon.com/Dune-Frank-Herbert-ebook/dp/B00B7NPRY8/ref=sr_1_2?keywords=dune+frank+herbert&qid=1660506937&s=books&sprefix=dune+frank%2Cstripbooks%2C74&sr=1-2

 

Four Thousand Weeks: Time Management for Mortals

https://www.amazon.com/Four-Thousand-Weeks-Management-Mortals-ebook/dp/B08FGV64B1/ref=sr_1_1?crid=3DVV12Z77CLKP&keywords=four+thousand+weeks&qid=1660507272&s=books&sprefix=four+thousand%2Cstripbooks%2C90&sr=1-1

 

 

Got a question for Jesse? Send him an email:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 587_What_Jesse_Has_Been_Reading_Lately.mp3
Category:general -- posted at: 12:00am MST

A listener writes Jesse to ask what he should do with his first real job and first real paycheck -- pay off debt, or start investing? This is a popular question with a few answers, and in Jesse's mind, the answers are all valid! What matters most is where you picture your life five years from now, whether you are happy with that picture, and whether your current trajectory is going to get you there.

 

Some people get a lot of satisfaction from having a big nest egg, even while carrying debt. Others prize the freedom they feel from not having debt more than the size of their investment accounts. And of course, some people prefer to be somewhere in between.

 

Got a question for Jesse? Send him an email:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 586_Just_Started_a_Real_Job.mp3
Category:general -- posted at: 12:00am MST

There's a moment that happens when you run across something you really want -- it's like an itch that wants you to whip out the credit card and scratch it! In these moments, we're probably not very clear on our priorities and Rule One, so Jesse reminds us that the budget is the thing that helps us answer the question: can I afford this? Am I going to be OK after I buy this? And the budget answers those questions for you by bringing clarity to your priorities and the jobs you have assigned to your dollars.

 

Got a question for Jesse? Send him an email:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 585_The_Magical_Moment.mp3
Category:general -- posted at: 12:00am MST

Hillary writes into the show to ask: when you started giving an allowance to your kids, what things did they buy that made you cringe? Hillary is starting the YNAB allowance strategy for her kids, aged 16, 15, and 12, and is wondering how to teach them to spend the money responsibly. Jesse offers his experiences with his own kids, and some of the money lessons he has watched them learn in their own life.

 

Want to ask Jesse a question? Send him an email at:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 584_Ask_Jesse_Allowance.mp3
Category:general -- posted at: 12:00am MST

Jesse chats with a number of YNAB employees who are living, or working towards living, a "nomadic" life -- living and working across the US in a variety of places throughout the year. While this type of lifestyle can create some amazing freedoms (Megan, for instance, arranges her work schedule so that she can spend her mornings skiing during the winter), it also requires a lot of careful planning! That's where YNAB comes in.

 

Maintaining a trailer, motorhome, or RV and handling the costs of living in new places involves lots of planning around true expenses and rolling with the punches. The nomadic ladies of YNAB share their experiences shifting to an unconventional lifestyle, and how the budgeting lessons they learned from the Four Rules have helped them make it happen.

 

Bringing budgeting into the workplace -- Financial Wellness by YNAB.

https://www.youneedabudget.com/wellness/

 

Email Jesse your stories about YNAB in the workplace:

askjesse@ynab.com

Direct download: 583_Budgeting_for_the_Nomad_Life.mp3
Category:general -- posted at: 12:00am MST

A listener writes into the show to ask about whole life insurance and whether it's worth it for a young couple in their 30's. As always, it depends!  Whole life policies typically come with big fees, which of course insurance companies and salesmen like. Jesse points out that the policies can work for some people in high marginal tax brackets, however the tax savings must be carefully weighed against the earnings you could have made by simply investing in low-cost, diversified index funds and sidestepping the high fees of whole life policies.

 

Send Jesse an email at:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 582_Whole_Life_Insurance.mp3
Category:general -- posted at: 12:00am MST

Happy Fourth of July to the American YNAB'ers out there!

 

Following Apple's recent announcement of their "Apple Pay Later" plan, in which customers can split the cost of purchases over multiple installments using Apple Pay, Jesse rants about the state of financing among successful companies. As he has noted before, nearly all successful companies eventually become finance companies, and Apple is no exception.

 

Buy now, pay later (BNPL) plans may be good for Apple's bottom line, but they are bad news for consumers. Research has discovered that people tend to buy 40% more with BNPL plans than they would have with cash. Then of course there is the interest and penalties that come with missed payments. Jesse has a bone to pick with this...

 

Send Jesse an email at:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 581_An_Independence_Day_Rant_Debt.mp3
Category:general -- posted at: 12:00am MST

It's no surprise, but employees carry their money stress into work with them. And that stress not only affects their performance at work, it affects their happiness and, by extension, increases turnover. 

 

Jesse shares results from a survey of over 3,000 YNAB'ers in the US who work full-time jobs in a variety of age ranges and income levels. YNAB found that only 24% of YNAB users experienced financial distress over the past two years of pandemic-fueled chaos -- pretty amazing compared to a broader survey of American workers by PWC which reported 63% experiencing financial distress. Another interesting stat: 93% of YNAB'ers reported being able to cover a $1,000 emergency expense, compared to just 13% of the PWC survey respondents. YNAB is clearly a powerful tool for financial stability!

 

Now, YNAB is helping to bring budgeting into the workplace with Financial Wellness by YNAB.

https://www.youneedabudget.com/wellness/

 

Email Jesse your stories about YNAB in the workplace:

askjesse@ynab.com

 

Direct download: 580_What_If_Your_Coworkers_Werent_Stressed_About_Money.mp3
Category:general -- posted at: 12:00am MST

Britney writes into the show to ask, as a long time fan and follower of various personal finance resources, what should she do now that her family's budget is pretty much dialed in? How can she avoid constantly looking at the app to check that the budget is still working?

 

Jesse reminds us that budgeting should, eventually, become boring for everyone. It may not be the goal, but it's at least a hallmark of a succesful budgeting practice! After that, maybe it's time to find a new hobby...

 

Antifragile: Things That Gain from Disorder by Nassim Taleb

https://www.amazon.com/Antifragile-Things-That-Disorder-Incerto/dp/0812979680

 

Send Jesse an email at:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 579_Ask_Jesse_How_to_Move_On.mp3
Category:general -- posted at: 12:00am MST

It's right about the mid-point of the year... how's your budget doing? Are you still clear on your priorities, and what jobs your dollars should be doing for you? If you've found yourself Rule Three'ing everything and rolling with the punches month after month, perhaps it is time to revisit your goals, reevaluate your priorities, and revise your budget accordingly.

 

Send Jesse an email at:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 578_Mid_Year_Check-In.mp3
Category:general -- posted at: 12:00am MST

A listener writes into the show -- what should she do with her investments in this market? Each week she is seeing the value of her portfolio go down, and she is losing as much value as what she puts in each month. Ouch! Jesse reminds us not to panic, and to go back to your written investment plan (you have one of those, right?).

 

Why are you investing in the first place? What is your time horizon? Do you think the economy will grow in the (long-term) future? If yes -- and this has been historically true over a long time horizon -- then a broad market index will also grow over the long run, and sticking to your investment plan is the thing to do.

 

Jesse has another recommendation: look at the number of shares you own, not the value of those shares on paper. If your number of shares is going up, then your portfolio is still growing by an important metric!

 

Investing books mentioned in the show:

 

Send Jesse an email at:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 577_Ask_Jesse_What_Do_I_Do_With_My_Investments_Now.mp3
Category:general -- posted at: 12:00am MST

On a recent Budget Nerds episode, Jesse threw out a hot take that index investing isn't all it's cracked up to be. Jocelyn wrote into the show to ask... why exactly? Jesse explains himself in today's episode.

 

Investing Books mentioned in the show:

 

Direct download: 576_Revisiting_a_Hot_Take_on_Index_Investing.mp3
Category:general -- posted at: 12:00am MST

As inflation continues to rear it's ugly head in 2022, prices are going up and up, meaning budgets are getting stretched thin. Inflation is essentially another form of scarcity, Jesse points out, albeit involuntary scarcity. Jesse reminds us that scarcity is what drives us to be creative with the budget, and get more clear about our values.

 

Budgeting is also an active process, so this time of inflation is a good time to dig deeper into every category, find the things that are auto-pilot and re-evaluate whether they shoud continue to be so. By exercising your Four Rules muscles, you can stay positive and confident about your financial strategy even when economic prospects are alarming.

 

Send Jesse an email at:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 575_Budgeting_When_Everything_Is_Expensive.mp3
Category:general -- posted at: 12:00am MST

A listener writes into the show to ask: how should you track vacation spending? Vacation is a time to relax and let loose a little, but the listener wants to make sure he is pacing the family's expenses during the trip so he doesn't go overbudget.

 

Jesse offers a few different options, including sophisticated use of categories to track the vacation spend without creating too much complexity.

 

Have a question for Jesse? Send him an email at:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 574_Ask_Jesse_Tracking_Vacation_Spending.mp3
Category:general -- posted at: 12:00am MST

Kelly Frawley and Emily Pollock are attorneys specializing in matrimonial and family law, and regularly contribute to Forbes on issues related to divorce and business. In today's episode, they discuss the important questions you should be asking before marriage about money, finances, and expectations about the future. And, in the event of divorce, some of the important things you should be doing and asking during the process.

 

Both Kelly and Emily agree that the most important thing couples can do before and during their marriage is communicate. Whether it's about debt and how you intend to pay it off, expectations about lifestyle and living expenses, plans for retirement -- if you keep communication frequent and open, then you will feel more certainty and security about your money.

 

Kelly and Emily on Forbes:

https://www.forbes.com/sites/frawleypollock/?sh=1c25b3d6eb04

 

Kelly Frawley: https://www.kasowitz.com/people/kelly-a-frawley

Emily Pollock:

https://www.kasowitz.com/people/all/emily-s-pollock/

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 573_Marriage_and_Financial_Separation.mp3
Category:general -- posted at: 12:00am MST

Struggling with YNAB? That's OK, you're not alone, and Jesse has a few things to look at and make sure you are truly following the Four Rules. And along the way, Jesse has a bone to pick about banks and their data export practices!

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 572_Better_Budgeting_And_a_Rant_About_Banks.mp3
Category:general -- posted at: 12:00am MST

A first-time house shopper wrote into the show for advice on how to approach the crazy, red hot housing market we are currently in. The writer wants to buy her first home, but is unsure whether she will have enough money to put down as house prices rise at a rapid pace. Jesse reminds us that, most importantly, cash equals options, and it's never a bad thing to have more cash on hand. He advises her to become an expert on her local real estate market, and really think about why she wants to buy, and what exactly she needs from a home before taking the plunge into home ownership.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 571_Ask_Jesse_First_House.mp3
Category:general -- posted at: 12:00am MST

Jesse shares some case studies from the Mecham household, where he has taught his kids to budget their savings the YNAB way, giving those savings dollars a job. The kicker? Their savings sit in the same checking account as their fun money. With practice and the four rules, however, they have developed the discipline to spend only what they have budgeted for each purpose.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 570_Savings_on_Purpose.mp3
Category:general -- posted at: 12:00am MST

Jesse welcomes Jason and Katie Hoschouer to the podcast. Together they paid off $78,000 of debt in a mere 28 months, an amazing burst of focused saving and budgeting!

 

Jason is a retired police officer with 23-years experience in the force, now turned financial coach. He helps other first responders get their budgets in order, pay off debt, and build savings so they don't have to live paycheck to paycheck and work tons of overtime to make ends meet. He also hosts a podcast about finance for first responders, Badges & Budgets.

 

GPS Financial Coaching

https://www.gpsfinancialcoaching.com

 

Badges & Budgets Podcast

Apple: https://podcasts.apple.com/us/podcast/badges-budgets/id1611201890

Spotify: https://open.spotify.com/show/4vcWckWJibgAaRSyY5o8bu?si=15e96a154eaf44d7

 

Direct download: 569_Money_Stories_EP16_First_Responder_Finance.mp3
Category:general -- posted at: 12:00am MST

Jesse invites the CEO of YNAB, Todd Curtis, to the show to discuss the anatomy of the company, the collaborative philosophy behind the work done by the various teams and functions, and some of the previous work and experiences that have shaped Todd's attitudes about operations and business culture.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 568_Meet_Todd_CEO_YNAB.mp3
Category:general -- posted at: 12:00am MST

Nina Clark grew up in a large family tight on money, but with a mother who was very good at budgeting and stretching a dollar. Nevertheless, she wasn't taught anything about money growing up, so she learned her money lessons the hard way: overdrafting her checking account and racking up debt at a young age. Things got more complicated when she went through a divorce and became a single mother. Ever determined and positive, Nina regained her financial footing and became a seasoned budgeter with a little help from YNAB.

 

Nina's story is also unique in that she's never worked conventional jobs, and never made much money, so she had to budget carefully to pay off her debts. While working various jobs, she started a bookkeeping service to supplement her income, throw extra cash at her debt each time she landed a new client. Nowadays, Nina's budget is helping her save for retirement, travel, and help her daughter travel the world as well.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 567_Money_Stories_EP15_Nina_Clark.mp3
Category:general -- posted at: 12:00am MST

It's that time of year again, and April 15th looms! Taxes are due soon, and perhaps no other financial topic generates as much confusion and as many questions. To that end, Jesse answers questions about taxes from YNAB listeners who wrote into the show. As with any tax question, when in doubt it's always best to contact a tax professional!

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 566_Ask_Jesse_About_Taxes.mp3
Category:general -- posted at: 12:00am MST

Direct download: 565_Home_Renovations.mp3
Category:general -- posted at: 12:00am MST

Jesse compares the pros and cons of the 15 year vs the 30 year home mortgage. While there are plenty of online calculators out there that will spell out the difference in interest costs and amortization between the two, Jesse argues that perhaps the math isn't the most important factor. It's how you feel about paying off the mortgage earlier.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

 

Direct download: 564_15_vs_30yr_Mortgage.mp3
Category:general -- posted at: 12:00am MST

International student of mystery Mackenzie is financially wise beyond her years... all thanks to YNAB and embracing the four rules while a young college student. Since discovering YNAB Mackenzie has traveled throughout Europe, and has come up with some unique strategies for managing her budget in a variety of currencies: the British pound, the euro, and US dollars. She's also learned some lessons about careful budgeting living in some of the most expensive cities in the world, like London.

 

The most important thing for college students, she says, is to just get started with YNAB. Try just tracking your expenses for a month, and get some data about your spending habits. Then you can get a realistic picture of what a college budget should look like. You're always going to spend more on food than you think, she says, so your budget should reflect that. Secondly, be prepared to roll with the punches and go with the flow. Things change a lot from freshman to senior year -- work/study opportunities open up, off-campus housing becomes available, you might want a car -- and you can expect your budget will too.  Learn to be OK with not having a perfect budget, and know that you will only get better at it over time.

 

 

College students can use YNAB for a year FOR FREE. You just need to provide proof of enrollment. Check the link below for more details:

https://www.youneedabudget.com/college/

 

Direct download: 563_Money_Stories_EP14_Mackenzie_International.mp3
Category:general -- posted at: 12:00am MST

Long-time YNAB team member Erin returns to the podcast to discuss strategies for managing your grocery budget. With prices on the rise, many people are tightening their budgets, and groceries are a common line item of concern. Erin offers tips for making grocery shopping simpler, avoiding unnecessary purchases, and making strategic "fun" food purchases (like frozen pizzas) for those days when you just don't feel like cooking.

 

As Erin reminds us, your family's grocery bill is personal! It's tempting to want to compare yourself to others, or to an average, but the best strategy is to start with where you are and find ways to adjust from there. Food is a very personal thing, and many factors play into the food choices people make (allergies/restrictions, location, busy lifestyle, food availability, etc), so keep your eyes on your own plate.

 

A few of Erin's favorite cooking and food-related YouTube channels:

  1. Frugal Fit Mom: https://www.youtube.com/c/FrugalFitMom
  2. See Mindy Mom: https://www.youtube.com/c/SeeMindyMom
  3. Ardent Michelle: https://www.youtube.com/c/ArdentMichelle
  4. You Suck at Cooking: https://www.youtube.com/c/yousuckatcooking
  5. Glen and Friends Cooking: https://www.youtube.com/c/GlenAndFriendsCooking

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: YNAB_562_-_Master_Your_Grocery_Bill_with_Erin_master_v1.mp3
Category:general -- posted at: 12:00am MST

In honor of 2/22/2022, which is quickly approaching, YNAB is giving you the chance to gain a little extra momentum in your budget this year. YNAB is giving away $2,222 to a lucky podcast listener! But you have to follow a few rules to have a chance to win:

  1. On 2/22/2022, make a public post on Facebook, Instagram, Tik Tok or Twitter and tell us what you would do with $2,222.
  2. Tag YNAB on your social media platform of choice (tags listed below).
  3. Fill out the form on the YNAB website: https://www.youneedabudget.com/22-giveaway/

 

For those who don't do the social medias, you can email pr@ynab.com and include promotion/contest name in the subject line.

 

A complete explanation of the rules and terms and conditions can be found at: https://www.youneedabudget.com/22-giveaway/

 

YNAB social media tags

Instagram: @youneedabudget 

TikTok: @youneedabudget

Twitter: @ynab
Facebook: @iYNAB

 

Good luck! 

Direct download: 561_A_Little_Momentum.mp3
Category:general -- posted at: 12:00am MST

Ben and Ernie return to the podcast to announce... their own podcast! Budget Nerds, the popular YouTube show for nerdy YNAB'ers, is launching a podcast on Wednesday, Feb 9th. Now you can take Ben, Ernie, and their nerdy budget adventures with you in the car, on the bus, maybe even in the kitchen!

 

As a bonus, Ben and Ernie share some "budget confessions" from Budget Nerds listeners.

 

Budget Nerds Podcast on Apple Podcasts https://podcasts.apple.com/us/podcast/budget-nerds/id1606054345

 

Spotify

https://open.spotify.com/show/0H1u8pqYrvz6zj6noHbkB3?si=34ab3b2a3435486b

 

Direct download: 560_Budget_Nerds_Podcast.mp3
Category:general -- posted at: 12:00am MST

YNAB Podcast listener Jenna emailed Jesse to share a recent win. Jenna's husband is about to finish law school, and thanks to YNAB and a lot of work and sacrifice he will graduate with NO student loan debt. First of all, BIG congratulations to you and your husband! Jesse shares some thoughts on this achievement as well as how to manage windfalls with a long-term mindset.

 

Join the More Money Challenge:

https://www.youneedabudget.com/moremoneychallenge/

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 559_Planning_for_3-Paycheck_Months_and_Windfalls.mp3
Category:general -- posted at: 12:00am MST

Jesse answers a listener question about budgeting after retirement, in particular when you are living off your retirement savings and not yet drawing on Social Security.

 

Join the More Money Challenge:

https://www.youneedabudget.com/moremoneychallenge/

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 558_Ask_Jesse_Beth_Retirement.mp3
Category:general -- posted at: 12:00am MST

Jesse chats with Scott Trench, CEO of BiggerPockets and a real estate investor, about how people can get started with real estate investing and build more wealth. Scott started his working career like many business college graduates, working at a large company as a financial analyst. Early on he stumbled across the Mr. Money Mustache blog, which advocates frugality and saving a large percentage of your income to achieve financial independence. From there, Scott became interested in using real estate to build his personal wealth and reach financial independence earlier in life.

 

Then, an encounter with the founder of the BiggerPockets website led Scott to a job with the company, and eventually, a chance to steer it as the CEO. Along the way Scott has learned a lot about real estate investing, and purchased and managed several properties. He now uses that knowledge to run the BiggerPockets website, which offers teaching and tools for people new to the real estate market.

 

Scott also acknowledges the costs and tradeoffs associated with becoming a good real estate investor. He's not shy about the amount of time needed to learn the basics, suggesting around 500 hours of reading and research before considering your first real estate purchase. For some people, like busy specialized professionals (doctors and lawyers for instance) or entrepreneurs running businesses, this time might be too high a cost, and distract from their primary focus. For the right person with patience and diligence, however, real estate investing can be an excellent way to build wealth and achieve financial independence.

 

BiggerPockets

https://www.biggerpockets.com

 

Join the More Money Challenge:

https://www.youneedabudget.com/moremoneychallenge/

 

Direct download: 557_Scott_Trench_Bigger_Pockets.mp3
Category:general -- posted at: 12:00am MST

Jesse chats with Ashley, of TikTok fame (The Organized Wallet), about her journey finding the budgeting software through a chance blogpost to finally gaining control of her money after years of struggle. One of Ashley's keys to success is mindfulness, and she has some great exercises for improving your mindfulness around money.

 

A few years into her marriage, Ashley had a reckoning with money. Her husband Jeremy had just landed a big job opportunity, but it required him to travel frequently. To keep things running smoothly, Ashley needed to assume management of the budget, which Jeremy had been handling up until that point. Ashley tried hard, but was overwhelmed with the spreadsheets, the sheer number of bills and accounts, and missed a payment on one of the bills. Distraught, she ran across a blog post by A Cup of Jo about a budgeting software called You Need A Budget. She jumped in, and finally found a method to help her gain control of her money.

 

Ashley now has a lot of wisdom to share about managing your money. She reminds us that we're all works in progress, and just because you can't budget perfectly -- especially at first -- doesn't mean it's not worth doing at all. Small efforts add up to big change with time. She also points out that clutter in our wallets (or budgets!) often means we aren't clear on our values. Decluttering our financial lives means first getting clear on what we want out of life.

 

Ashley on TikTok

https://www.tiktok.com/@theorganizedwallet

 

Read more on Ashley's story:

https://www.youneedabudget.com/after-struggling-to-budget-this-book-made-it-stick/

 

Join the More Money Challenge:

https://www.youneedabudget.com/moremoneychallenge/

 

 

Direct download: 556_The_Organized_Wallet_with_Ashley_TikTok.mp3
Category:general -- posted at: 12:00am MST

Happy New Year! It's that time again -- time for planning, goal setting, and resolutions. If you're listening to this podcast, one of your New Year's resolutions might be to save more money. YNAB can help you with that!

 

YNAB team member Veronica is leading the way with the More Money Challenge, a 30-day challenge to help you kick start your savings in 2022. The rules are simple, but the challenge is hard. Luckily, there's a whole community of like-minded YNAB'ers that will be running the challenge together.

 

Join the More Money Challenge:

https://www.youneedabudget.com/moremoneychallenge/

 

Instagram: https://www.instagram.com/p/CYFRUQYBdMV/

 

TikTok: ynab.com/tiktok

Direct download: 555_More_Money_Challenge_with_Veronica.mp3
Category:general -- posted at: 12:00am MST

It's that time of year again... time to burn it all down! The budget, that is. Every year Jesse "burns down" his budget, deleting all the categories and questioning whether the family could live without them. It's a fun thought experiment, especially with the typical must-have things.

 

Do you really need groceries every month? Of course you do, but what if you didn't do it? How would you survive? The point is not to figure out how to live without groceries, it's to ask the question and get your brain thinking about the deeply held assumptions you have about your consumption. At the end of the day, most of your categories will probably go back in. But hopefully, you'll rethink at least one thing in your budget, and find an opportunity to bring your spending more in line with your priorities in the New Year.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 554_Budget_Burndown_Revisited.mp3
Category:general -- posted at: 12:00am MST

Millions of people struggle with ADHD, and it has financial ramifications -- decision fatigue, difficulty planning future purchases, and impulsive spending habits. Jak is a coach for "ADHD'ers," as she calls them, helping people form strategies for coping with emotional highs and lows and gain control over their money. An ADHD'er herself, she found the visual aspect of YNAB highly effective in keeping her engaged with both her current spending and her long-term plans (sinking funds).

 

Chelsea is an intuitive eating coach, and a fellow ADHD'er who engaged Jak for coaching. Together they discovered YNAB, and joined the podcast to share its helpfulness with others suffering from ADHD.

 

You can find more about Jak and Chelsea here:

Jak IG: @authenticallyadhd

Jak email: authenticallyadhd@gmail.com

YNAB and ADHD Workshop: www.authenticallyadhd.com/membership

 

Chelsea IG: @_chelseahester_

Chelsea website: www.chelseahester.com

 

Direct download: 553_Money_Stories_EP13_Jak_and_Chelsea_ADHD.mp3
Category:general -- posted at: 12:00am MST

We're nearly to the end of 2021, so Jesse took a moment to celebrate all of your biggest budgeting wins this year. To all the YNAB users who accomplished your goals and improved your financial standing -- no matter how big or how small -- congratulations! Here's to another year of budgeting wins, breaking the paycheck to paycheck cycle, and reduced stress.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 552_Celebrating_Biggest_Wins_2021.mp3
Category:general -- posted at: 12:00am MST

A listener asks -- what can I do to get my budget back on track after falling off the wagon?

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 551_Ask_Jesse_Fallen_Off_the_Wagon.mp3
Category:general -- posted at: 12:00am MST

Jesse chats with the Chief Hustler of side hustles, Nick Loper. Nick  has made a living out of side hustles, literally! A serial entrepreneur, Nick started a number of small businesses and side hustles before writing books about his experience and teaching others how to start their own side hustles. He is also an author, with a new book out: $1,000 100 Ways.

 

After helping thousands of people launch their own hustles, Nick probably has a way (or maybe 100 ways) you can start your own and bring home more money.

 

Side Hustle Nation Ideas

https://www.sidehustlenation.com/ideas

 

The Side Hustle Show

https://www.sidehustlenation.com/side-hustle-show/

 

$1,000 100 Ways by Nick Loper

https://www.amazon.com/gp/product/B099TQL3T7/ref=dbs_a_def_rwt_hsch_vapi_tpbk_p1_i0

 

Direct download: 550_Nick_Loper_Side_Hustle_Nation.mp3
Category:general -- posted at: 12:00am MST

Jesse answers a reader trying to save for a surprise Christmas present for his significant other, but also trying to be faithful to his YNAB budget. Jesse shares a few tricks and some "creative accounting" within YNAB to help you save up for Christmas gifts without spoiling the surprise or the budget.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 549_Ask_Jesse_How_to_Launder_Money_for_Christmas.mp3
Category:general -- posted at: 12:00am MST

Watch out credit cards, a new game is in town, and it's waiting to trip up your budget during the holiday season. We're talking about payment plans: sort of like a credit card, sort of not, but definitely loaded with high interest, fees, and confusing terms designed to trip up customers. YNAB has a team dedicated to helping budgeters navigate their way through payment plans using the YNAB software, and ultimately get out of them altogether. Sofia Hergenrader, a YNAB expert on payment plans, joins the podcast to talk about the pitfalls of this new breed of financial products.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 548_Dont_Afterpay_Through_the_Holidays.mp3
Category:general -- posted at: 12:00am MST

Jesse answers a concerned parent emailing about their son's college experience. After raising a thoughtful and budget minded son who paid for his first semester of college by working a series of jobs during high school, the parent was dismayed by the extravagant lifestyle and expenses of his classmates. Expensive vacations, clothing, electronics -- many undergraduate students aren't living like students, and it can be frustrating for people embracing a life of responsible budgeting. Nevertheless, Jesse reminds the listener that the gifts of budgeting, responsibility, and good planning pay off in the long run far more than ephemeral luxuries.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 547_Ask_Jesse_Living_Right_Not_Fair.mp3
Category:general -- posted at: 12:00am MST

Of the Four Rules, is one more important than the others? Is there one rule to rule them all? In the past, Jesse has argued that rules 2-4 are essentially derivatives of Rule One. But perhaps there's another contender -- Rule Three: Roll with the Punches. Life is all about rolling with the punches, adapting to ever-changing stresses and forces in our environments. Budgeting, Jesse argues, is no different.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 546_Adapt_or_Die.mp3
Category:general -- posted at: 12:00am MST

Jesse answers an email from a listener wondering, should he sell his cryptocurrency in order to pay off his debt?

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 545_Ask_Jesse_Crypto_or_Debt.mp3
Category:general -- posted at: 12:00am MST

Jesse chats with life coach and podcaster Krista St. Germain, a widowed mother who had to work through waves of grief after her husband unexpectedly passed away five years ago. Krista discusses her journey moving through grief, learning to rewrite the narratives of her guilt, and finding a path to grow after such a traumatic experience.

 

Krista helps other widowed mothers navigate their journey, and hosts a podcast discussing grief, Post Traumatic Growth, and more.

https://www.coachingwithkrista.com

 

https://www.coachingwithkrista.com/category/podcast/

 

Direct download: 544_Krista_St_Germain_Widowed_Mom.mp3
Category:general -- posted at: 12:00am MST

Njeri Young is an avid YNAB user, but she didn't start out that way. In fact, it took her years of stops and starts before she finally gained control over her dollars, learned how to budget, and build a healthy relationship with money. Although some people on the internet make it look easy, Njeri's experience is common, and she has learned many valuable lessons along  her journey.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 543_Money_Stories_EP12_Njeri_Young.mp3
Category:general -- posted at: 12:00am MST

Jim and Jamie Sheils make a sobering, but important, observation -- we only have 18 summers to spend with our children before they become adults and move off to start their own lives. Jesse chats with Jim and Jamie about how we can spend more time with our children, be more present in our relationships, and manage the most precious and scarce resource of them all: time.

 

Jim and Jamie are the parents of four children, and help coach other families to develop tighter bonds and enjoy more meaningful time with each other.

https://www.18summers.com/about

 

Jim and Jamies' book: The Family Board Meeting

https://www.18summers.com/book

 

Direct download: 542_18_Summers_Jim_and_Jamie_Sheils.mp3
Category:general -- posted at: 12:00am MST

Jesse chats with avid YNAB'er Chris Wilson, who turned around a stressful and unfulfilling life by applying YNAB's Four Rules to his budget, and then to his life. Chris explains that the key to his transformation was learning to "simplify his why," and get clear about his values and priorities.

 

Chris now strives to help others find more security in their finances and more fulfillment in their lives. He offers a free coaching course via his website:

https://simplifyyourwhy.com

 

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 541_Money_Stories_EP11_Chris_Wilson.mp3
Category:general -- posted at: 12:00am MST

Tanya Dalton is passionate about helping women take charge of their schedules and get more done. But it's not just about checking things off the list, she says, it's about giving your tasks priorities and allocating your time to the most important things. And just because something is urgent, doesn't necessarily mean it's important! Tanya Dalton shares strategies from her book "On Purpose" for getting more done, and feeling more in charge of your life.

 

Tanya Dalton "On Purpose"

https://tanyadalton.com

 

The Intentional Advantage Podcast

https://tanyadalton.com/podcast

 

Direct download: 540_Tanya_Dalton.mp3
Category:general -- posted at: 12:00am MST

Inspired by the ideas in Morgan Housel's book The Psychology of Money, Jesse discusses the meaning of the word "wealth," and how we define wealth in our own lives. Is it just about money in the bank, or is it about our physical health too? Or family health, or liking our job, or having options in life? It turns out, wealth can mean many different things, and perhaps it's best to look at wealth as a spectrum rather than simply a pile of money in the bank.

 

The Psychology of Money by Morgan House

https://www.collaborativefund.com/blog/the-psychology-of-money/

 

Direct download: 539_The_Spectrum_of_Wealth.mp3
Category:general -- posted at: 12:00am MST

Did you know Jesse has another podcast all about business? He and veteran YNAB'er and virtual CFO Mark Butler have launched Beginning Balance to talk about the lessons they've learned consulting with other businesses as well as managing their own businesses. In today's episode, we are rebroadcasting an episode of Beginning Balance which looks at how applying Rule One -- Give Every Dollar a Job -- to a business can actually help improve its strategy.

 

Beginning Balance on Apple Podcasts

https://podcasts.apple.com/us/podcast/beginning-balance/id1569423517

 

Beginning Balance on Spotify

https://open.spotify.com/show/7APubdzXN2eeeMdNpCLkiy?si=1e2af4932ca643eb

 

Direct download: 538_Your_Cash_is_Your_Strategy_Beginning_Balance_Rebroadcast.mp3
Category:general -- posted at: 12:00am MST

When did that happen? It seems like the year was just getting started, and all of a sudden it's mid-October. The holidays are coming soon -- have you been creating space in your budget for your holiday spending? If not, it's not too late! There's still time to set some cash aside in your holiday spending category, plan your expenses carefully, and make some choices about your travel plans and gift giving this year.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 537_The_Holidays_are_Upon_Us.mp3
Category:general -- posted at: 12:00am MST

It's normal to want some amount of luxury or finery in your life, but have you considered the true cost of luxuries? There might be more to it than just the sticker price...

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 536_The_Montblanc_Effect.mp3
Category:general -- posted at: 12:00am MST

Jesse answers a listener-submitted question. If you've paid off your debt, and you have an emergency fund, should you start investing in the stock market? If your goal is to build wealth -- and there are many good reasons to -- then investing in the stock market is a great way to do that.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 535_Should_I_Invest_in_Stocks.mp3
Category:general -- posted at: 12:00am MST

Did you know YNAB is on Tik Tok? Yep, thanks to YNAB team member Sarah Schweisthal, You Need A Budget has been lighting up Tik Tok "stitches" with budgeting advice for the yoots. Sarah talks about her work sharing the Four Rules on Tik Tok, as well as her own budgeting journey going from being deeply in debt to traveling full-time in a travel trailer.

 

Follow YNAB (and Sarah) on Tik Tok:

https://www.tiktok.com/@youneedabudget?lang=en

 

Take the 34-day challenge:

https://www.youneedabudget.com/34dayreset/

Direct download: 534_Tik_Tok_Financial_Advice_Sarah.mp3
Category:general -- posted at: 12:00am MST

It's been hot for years, and has recently become white hot. Cryptocurrencies have the potential to change money and finance in a profound way, but does that make it a good investment, or mere speculation? How would you invest in crypto anyway? Jesse offers his thoughts on this incredible 21st century innovation.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 533_Should_I_Invest_in_Crypto.mp3
Category:general -- posted at: 12:00am MST

Jesse speaks with renowned financial journalist William Green about his new book -- Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life -- in which Green interviewed numerous billionaires, fund managers, and legendary investors about their investing wisdom, mindset, and even philosophy. Even if you are just a passive index investor who does not aspire to purchase individual securities, the words of these accomplished investors contain much wisdom.

 

Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life by William Green

https://www.amazon.com/gp/product/1501164856?ie=UTF8&tag=thewaspos09-20&camp=1789&linkCode=xm2&creativeASIN=1501164856

 

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 532_William_Green_Investing_Greats.mp3
Category:general -- posted at: 12:00am MST

School is back in session! And today, Jesse and Matthew Amster-Burton are discussing everything you need to do to get started investing for retirement. They break down the different types of  investment accounts, mutual funds and index funds, bonds, and a few simple, stress-free strategies for investing.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 531_Investing_101_Getting_Started.mp3
Category:general -- posted at: 12:00am MST

Jesse chats with Dustin Heiner, a real estate investor who quit his job five years ago after building a passive income stream sufficient enough to live on. Dustin received a wake up call several years ago when he was laid off from what he thought was a stable government job when his department lost funding. Although he was able to find a new position in a different department, he vowed to never be in that position again, so he put his energy into building a sustainable business out of real estate.

 

Dustin argues that most people have real estate investing backwards -- they look for good properties, buy one, then try to figure out how to make a business out of it. He works the opposite way, building systems and an operating model for the business -- how he will find tenants, how he will contract with property managers, how he will finance the property purchase, etc -- before buying a single property. Once the business is worked out, he can buy as many properties as he likes and slot them into his inventory. At the end of the day, the property is not the business, he says, it's inventory for the business!

 

Dustin has started a website and coaching service to help others learn to invest in real estate and build passive income streams. You can find him at:

https://www.masterpassiveincome.com

 

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 530_Dustin_Heiner_Passive_Income_Real_Estate.mp3
Category:general -- posted at: 12:00am MST

School is in session! Jesse teamed up with Matthew Amster-Burton (who you have heard on the Behind the Scenes series), a YNAB team member and former financial advisor, to create a short series demystifying the world of investing. For the first day of class, they cover some of the basic investing terms you will encounter.

 

YNAB is all about helping you save more money, but eventually some of that money has to go to work for you and earn a return. The return that your saved money can earn over time makes a huge difference in how much money you have in retirement. Armed with a little knowledge, you can start investing in your future you!

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 529_Investing_101_Terms.mp3
Category:general -- posted at: 12:00am MST

It's time to play a little game. Jesse and a couple YNAB team members gather to play "you might be a budget nerd if...." See if you can call yourself an official budget nerd!

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 528_You_Might_Be_a_Budget_Nerd_If.mp3
Category:general -- posted at: 12:00am MST

Do you pay off debt first, or invest for retirement while paying it off slower? Or do you build an emergency fund first? How much? There are a number of tradeoffs when it comes to paying off debt, saving, and investing, and Jesse reminds us that there is no prescription! Everyone's budget is personal, and will depend on their goals, values, and emotional response to the budgeting process.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 527_Financial_Order_of_Operations.mp3
Category:general -- posted at: 12:00am MST

With the Baby Boomer generation rapidly aging into retirement, more and more Generation X and older Millennials face some tough financial questions: how do you financial support parents that need medical care, or long-term assistance, but cannot afford it? Should you support kids after college by allowing them to live at home while they get their financial feet under them? Should you save for your own retirement first, or help your parents/kids first?

 

Jennifer Owens calls this conundrum the "sandwich generation," people facing financial pressure from supporting both parents and children at the same time. While she does not have any hard and fast answers to these questions -- it's a complex problem, with many factors to consider -- she does believe that talking about the problem and sharing the challenges helps people know they aren't alone.

 

Jennifer has written extensively about the sandwich generation, and she is also working with a new app called Firstly which helps families manage supporting their children and parents as they navigate different stages of life.

 

https://firstly.com/about-firstly/

https://firstly.com/articles/how-in-the-world-did-i-end-up-in-the-sandwich-generation/

 

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 526_Jennifer_Owens_Sandwich_Generation.mp3
Category:general -- posted at: 12:00am MST

As you might have noticed by now, the team at YNAB is diverse, eclectic, and full of passionate people with a wide range of interests. It is no surprise, then, that in the course of conducting these Behind the Scenes interviews, Jesse discovered a ton of interesting and, well, random things about the employees of YNAB!

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 525_BTS_Randomness.mp3
Category:general -- posted at: 12:00am MST

Talking about money isn't easy for adults, so it's no surprise that many adults struggle with how to talk about money with their kids. Stephanie Anne-Lyse Wealth, or just Anne-Lyse as she goes by in her publications, has some ideas for introducing children to the concept of money, saving, investments, and debt.

 

Anne-Lyse is the author of Dream of Legacy, a book about building not just individual wealth but generational wealth. She also hosts The Dreamers Podcast where she interviews successful entrepreneurs about their journey building businesses and wealth. You can find these resources and more at:

https://dreamoflegacy.com

 

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 524_Anne-Lyse_Wealth.mp3
Category:general -- posted at: 12:00am MST

In today's installment of Behind the Scenes, YNAB team members share their insights about personal finance, whether it's overcoming the fear and confusion of investing, learning to push yourself to achieve things you never thought you could, or better understanding our conditioning around money and success.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 523_BTS_Personal_Finance_Tips.mp3
Category:general -- posted at: 12:00am MST

It's that time of the year again, when summer is winding down and children are starting the new school year. As seasons go, starting the new school year is a time of new schedules and new challenges. It's also a great time to rethink the budget, or simply get back in touch with the budget.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 522_Back_to_School_Back_to_Budgeting.mp3
Category:general -- posted at: 12:00am MST

Today Jesse asks the team at YNAB to share their top pieces of advice for new YNAB users... besides, you know, that you need a budget.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 521_BTS_Budgeting_Advice_from_the_Team.mp3
Category:general -- posted at: 12:00am MST

Life hacker, optimizer, product director at Wealthfront... he wears many hats, but his passion is the same -- upgrading life without spending a fortune! In today's episode, Jesse chats with Chris Hutchins, who shares a handful of his seemingly endless number of life hacks. Whether it's saving money on travel, getting a few more dollars out of your car lease, or negotiating for coupons, Chris has a hack for just about everything.

 

You can follow Chris and learn many more hacks on his podcast, All the Hacks:

https://www.allthehacks.com

 

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 520_Chris_Hutchins_UPDATE.mp3
Category:general -- posted at: 12:00am MST

In today's installment of Behind the Scenes, Jesse asks employees why they applied for a position at YNAB, what the interview process is like, and whether the company has lived up to its reputation as the best small business place to work at (no, really, that's what Fortune said, for the second year running!). YNAB gets a lot of applications, and the hiring process is fiercely competitive, but those who have made it share their thoughts and experiences.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 519_BTS_Working_at_YNAB.mp3
Category:general -- posted at: 12:00am MST

In today's Money Story, Jesse chats with a YNAB employee, the gifted artist and animator Tristan Henry-Wilson, whose work YNAB users may have seen on the YNAB website and the YNAB Youtube channel, among others. Tristan may be an exceptionally talented artist, but he didn't come into his art career easily. After receiving some unexpected financial aid, he attended Ringling College of Art and Design and earned a degree in illustration.

 

Tristan had a difficult time landing paying gigs in the art world, and began working a long series of odd jobs to pay rent, eat food, and, most importantly, make payments on his $80k of student loads, which a family friend had co-signed for him. After years of grinding, building his portfolio, learning how to interview, and networking into better jobs, Tristan found salaried work in New York City, and was finally able to throw serious money at his debt. At this point, the balance had grown to about $150k, but he was undeterred. With each pay increase, Tristan put more money into the debt, eventually paying it off in full after about 15 years.

 

Tristan's determination and perseverance was largely responsible for his success, but he also credits YNAB for helping him get smart about managing his money and finding security and peace in his financial situation.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 518_Money_Stories_EP10_Tristan_Henry-Wilson.mp3
Category:general -- posted at: 12:00am MST

Experienced YNAB'ers understand that budgeting is an active, ongoing process that requires frequently engagement with your budget. Ideally, both partners in a relationship are fully engaged in the budget, but the budgeting process can take many forms. In today's Behind the Scenes episode, Jesse chats with YNAB employees about budgeting with a partner, and the many ways couples learn to navigate the routine.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 517_BTS_Budgeting_with_a_Partner.mp3
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Award winning author and personal finance journalist Cameron Huddleston joins the show to discuss the uncomfortable realities of managing parents' finances through end of life care and after their death. From wills, power of attorney documents, to simply knowing where your parents have all their bank accounts, Cameron offers some practical advice on what things you need to look out for when helping your older family members manage their finances.

 

Of course, personal finance is a, well, personal thing for many people, and parents may be reluctant to share the details of their money. Cameron offers some tips for breaking the ice on money conversations, and how to approach parents and loved ones respectfully.

 

You can find more about Cameron Huddleston and her book, Mom and Dad, We Need to Talk, at her website:

https://cameronhuddleston.com

 

Carefull app:

https://www.getcarefull.com/

 

Direct download: 516_Cameron_Huddleston_Careful.mp3
Category:general -- posted at: 12:00am MST

Jesse interviewed every employee at YNAB, asking them about a wide range of topics -- how they heard about YNAB, what they are working on in their roles, and their money struggles and successes. In today's Behind the Scenes episode, YNAB insiders answer the question: what's the budget doing for you lately?

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 515_BTS_Whats_the_Budget_Doing_For_You.mp3
Category:general -- posted at: 12:00am MST

Travis Hornsby is passionate about student debt, especially helping people with lots of it find smart, effective pathways to pay it off. After a career as a bond trader, he turned his attention to building a service to help college graduates with large student debt loads navigate their way through the maze of repayment options, forgiveness programs, and tax complications that come with student loans. Travis and his company, Student Loan Planner, have consulted with thousands of students on over $1.4 billion of student debt, helping them create a repayment plan that takes full advantage of all the programs out there.

 

You can learn more about Travis and his work at The Student Loan Planner website. He also hosts a podcast by the same name:

https://www.studentloanplanner.com

https://podcasts.apple.com/us/podcast/student-loan-planner/id1446453497?mt=2&ls=1

 

Direct download: 514_Travis_Hornsby_Student_Loan_Planner.mp3
Category:general -- posted at: 12:00am MST

Jesse interviewed every employee at YNAB, asking them about a wide range of topics -- how they heard about YNAB, what they are working on in their roles, and their money struggles and successes. Today, you'll hear from a selection of YNAB employees discussing their debt struggles, how they came into debt, and how they have used the Four Rules to pay it off.

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 513_BTS_Debt.mp3
Category:general -- posted at: 12:00am MST

Jesse invites the author behind one of his favorite books, Atomic Habits, to join the podcast and talk about what he learned about setting good habits, breaking bad ones, and developing environments and systems conducive to productive habits. As James says, the things you do and accomplish in life are essentially lagged indicators of your habits. So building good habits slowly, methodically, and thoughtfully can result in big rewards down the road.

 

James Clear

https://jamesclear.com

 

Atomic Habits: Tiny Changes, Remarkable Results

https://jamesclear.com/atomic-habits

 

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 512_James_Clear_Atomic_Habits.mp3
Category:general -- posted at: 12:00am MST

Are you a college student, or about to go to college? It's an exciting time of your life, but it can also be a very expensive time of your life too. It's possible to keep your spending under control, and have a lot of fun, but you're going to need a budget.

 

College students -- you can get a whole FREE YEAR of YNAB here. Sign up, take some of the free classes, and give yourself the gift of learning how to budget and take control of your financial life.

https://www.youneedabudget.com/college/

Direct download: 511_Dear_College_Student.mp3
Category:general -- posted at: 12:00am MST

Artist and tax professional Hannah Cole has a burning passion -- seeing art get made. And one thing she hates to see is artists being held back by money problems. After establishing herself as an artist in exhibitions in New York City, Hannah landed a job working for a design agency. There she learned she had a talent for communicating with both the creatives and management, helping each side understand deadlines, budgets, and resources needed to complete projects. Hannah went on to become a tax professional and open a tax service specializing in helping artists, creatives, and freelancers.

 

In addition to a full suite of tax services, Hannah's company offers money workshops to explain business, finance, and tax terms in clear language and help freelancers develop strategies for managing their money. She has also created a free, colorful guide for understanding how tax deductions work. You can find out more about Hannah, her company, and resources on their website:

https://www.sunlighttax.com

 

Free tax deductions guide:

https://www.sunlighttax.com/deductionsguide

Direct download: 510_Hannah_Cole_Art_and_Taxes.mp3
Category:general -- posted at: 12:00am MST

Veteran YNAB'ers have a saying for what happens when you follow the four rules, budget, and have no money left over. They call it being "YNAB broke," and it's a badge of honor!

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 509_Broke_and_Winning.mp3
Category:general -- posted at: 12:00am MST

EDITOR'S NOTE: At 28:15 David states that generally you cannot take out money from a ROTH to pay for college without paying a penalty. David later pointed out, however, that you may take out up to $10k without penalty to pay for qualifying higher education expenses.

 

David Stackpole, wealth manager and Certified Financial Analyst (among other titles), joins the podcast to discuss his strategy for paying for the ever-growing cost of college. David points out that college tuition has increased nearly 1,400% since the 1970's, which amounts to a 6.4% annual inflation rate. With costs rising so dramatically and so steadily, many parents find it difficult to save enough for their children's college education. David has a unique strategy for dealing with this problem, however.

 

David recently published a paper outlining his approach in the University of Louisville's Journal of Student Financial Aid, which you can find here: 

https://ir.library.louisville.edu/cgi/viewcontent.cgi?article=1701&context=jsfa

Direct download: 508_David_Stackpole_Paying_for_College.mp3
Category:general -- posted at: 12:00am MST

In today's money story, Carol Kissinger tells her story of discovering YNAB after moving from America to Berlin. She had never been good with money, was indebted to her parents for years, and frequently argued with her husband about money. Moving to Berlin put new stress on her bank account, until she discovered YNAB. The Four Rules helped her put a simple framework around money and clarify what it was she was spending on.

 

As it turns out, impulse purchasing was a recurring theme in Carol's budget. She and her husband would see money in the bank account after pay day and start buying things... without first reserving money for rent, utilities, and the various unplanned expenses that inevitably come up during the year. With an ADHD diagnosis, Carol found it particularly difficult to stop impulse purchasing without having a solid plan of what to do with her money after pay day. YNAB provided a framework for her to budget her dollars and give them jobs before they got spent. She found initially she had to "roll with the punches" frequently as she would forget about irregular expenses, but as she made it through the first several months of budgeting it became easier to predict those and her budget became more stable.

 

Most importantly, Carol discovered in the process of budgeting with YNAB that some of her long-held preconceptions were really just not true. She believed for a long time she was simply bad at money, and nothing would change that -- it was just a part of who she was. After paying off every dollar of debt to her parents and building an emergency fund, she could no longer say that about herself, and her personal narrative changed. She wasn't just not bad at money anymore, she was good with money. This transformation has extended outside her budget too. Carol and her husband were always very messy housekeepers, she says, to the point where they didn't want to have company over. After going through the budgeting transformation with YNAB, they now have a much cleaner home!

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: EP09_MoneyStories_Carol_Kisinger.mp3
Category:general -- posted at: 12:00am MST

Personal finance journalist, news anchor, Certified Financial Planner, and now author, Bobbi Rebell explains what it means to be a "financial grownup." The essential part of being grown-up with your finances is realizing that it's no one else's responsibility to make a budget, put money in your retirement account, or educate yourself about financial terms and concepts. It's all up to you! Luckily, there is a wealth of easily accessible information that you can learn from, including Bobbi's own podcast.

 

You can find out more about Bobbi, her new book "How to Be a Financial Grownup, her podcast, and her "Grownup Gear" on her website:

https://www.bobbirebell.com

Direct download: 506_Bobbi_Rebell_Financial_Grownup.mp3
Category:general -- posted at: 12:00am MST

After receiving shocking financial news that credit card spending in 2021 is up over 20% compared to 2019, Jesse asks the question: are you still budgeting out there?

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 505_Uh_Are_You_Still__Budgeting.mp3
Category:general -- posted at: 12:00am MST

Jesse chats with two people that are passionate about personal finance and share a common trait: they are high income earners. YNAB doesn't often talk about people earning high incomes, but contrary to popular belief, earning a lot of money does NOT mean you don't need to budget!

 

As Ivan Smirnov and Daniel Chen attest, high incomes often come with high cost of living areas, where housing costs can run well into the 7 figures for homes or multiple thousands for rent. High income can also come with lifestyle inflation, as well as debt from post-graduate student loans and professional programs. Both of these things (and much more) can be managed with an effective budget, and Ivan and Daniel share their tips in keeping their costs under control and managing their investments using YNAB.

 

Ivan Smirnov is a software engineer at Google, and he loves to share his personal finance journey and YNAB power tips with friends and co-workers. He writes occasionally for a couple blogs:

https://ivansmirnov.name

https://ivans.io

 

Daniel Chen is a former Big 4 accountant, personal finance entrepreneur, and currently the Head of Business Development at a personal finance educational startup Brightside. You can find Daniel on twitter:

https://twitter.com/chenthusiast?lang=en

 

 

YNAB for Good: https://www.youneedabudget.com/good/

 

Direct download: EP08_Money_Stories_Ivan_Daniel_Budgeting_High_Income.mp3
Category:general -- posted at: 12:00am MST

After years of experimenting with his budget and budgeting process, Jesse decided to do the unthinkable in 2020. He went an entire year *without* a budget!

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Direct download: 503_Years_of_Experiments.mp3
Category:general -- posted at: 12:00am MST

Jean Chatzky, long-time personal finance writer and correspondent for The Today Show, CNN, MSNBC and other high-profile shows, joins the podcast to discuss the unique issues women face in their financial lives. She has recently written a book about her research and experience working with women on improving their financial security, and she runs a website dedicated to educating and coaching women in financial matters called Her Money.

 

Jean's book -- Women with Money

https://womenwithmoneybook.com

 

Her Money Podcast

https://hermoney.com

 

Direct download: 502_Jean_Chatzky.mp3
Category:general -- posted at: 12:00am MST