The YNAB Podcast

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
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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 MDT

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 MDT

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
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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 MDT

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 MDT

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
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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
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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 MDT

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
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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
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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 MDT

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
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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 MDT

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
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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 MDT

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 MDT

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 MDT

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 MDT

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 MDT

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
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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 MDT

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 MDT

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 MDT

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
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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 MDT

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
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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 MDT

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
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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 MDT

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 MDT

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 MDT

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
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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
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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 MDT

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
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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
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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 MDT

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
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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
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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 MDT

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 MDT

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 MDT

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 MDT

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 MDT

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 MDT

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 MDT

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 MDT

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 MDT

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 MDT

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 MDT

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 MDT

Jesse offers six tips for newlyweds learning to manage their money as a couple for the first time.

 

Check out the YNAB blog for more!

https://www.youneedabudget.com/money-lessons-i-wish-i-had-learned-when-i-was-25/

Direct download: 501_Money_for_Newlyweds.mp3
Category:general -- posted at: 12:00am MDT

Jesse celebrates -- can you believe it?! -- the 500th episode of the You Need a Budget podcast. Nearly 10 years ago, Jesse started this podcast as an experiment. Over the years the mics have been upgraded, the acoustics have gotten better, but the message has remained the same: follow the Four Rules, and make your dollars work for you and your priorities.

 

Jesse reminds us that, much like doing the podcast, budgeting is mostly just doing the work, day in and day out. Budget is a verb, an activity that you do every day, and simply showing up and continuing to do it over time yields big results.

 

YNAB the company is still growing, and so is the podcast. Jesse and his longtime friend and corporate finance expert Mark Butler have launched a new show for small businesses called Beginning Balance. Download and subscribe here!

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

Direct download: 500_Well_Here_We_Are.mp3
Category:general -- posted at: 12:00am MDT

Jesse interviews Steve Colon, CEO of Bottom Line, an organization that helps students of color navigate the complex, time-consuming, and high stakes college admissions process. Bottom Line doesn't stop with admissions, either. Through their unique DEAL rubric, they help each student set a plan to graduate within six years, with no more than $31k debt, and find high quality jobs. Along the way they meet regularly with students, to provide a network of support and ensure students can meet their goals and graduate on time.

 

Bottom Line has recently partnered with YNAB to provide students with financial education to manage both their tuition and student life costs as well as their personal finances during and after school.

 

You can find out more about Steve and the Bottom Line organization here:

https://www.bottomline.org

Direct download: 499_Steve_Colon_Bottom_Line.mp3
Category:general -- posted at: 12:00am MDT

Today Jesse gives a sneak peak at a new show launching on the YNAB podcast network -- Beginning Balance. Together with his friend and business mentor Mark Butler, a virtual CFO and business expert, they explore the financial issues of small businesses and how to solve them. This is the first episode of Beginning Balance, which will begin airing weekly on Fridays.

 

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

Direct download: 498_Introducing_Beginning_Balance.mp3
Category:general -- posted at: 12:00am MDT

Jesse chats with Chanel Reynolds, author of What Matters Most and founder of the Get Your Shit Together website, dedicated to helping people navigate the confusing, difficult, and emotional aspects of end-of-life planning. In 2009 Chanel's husband was killed in a road cycling accident, and she found herself, very suddenly, a widow, a single parent, and overwhelmed dealing with the many medical, legal, and family issues that death brings with it.

 

Today Chanel helps others plan for the what-ifs and eventualities of life, and encourages people to start having conversations with their spouses, parents, and other loved ones about what they want when it comes to their end-of-life. Although these can be difficult conversations -- and people often avoid them for that reason -- she recommends to start by focusing on the love, and how you want your loved ones to feel, and what quality of life means to them. From there, you can visualize what end of life might look like and start the basic planning steps: having an emergency fund, documenting your digital accounts and passwords, preparing a will, and power of attorney for medical decisions.

 

You can learn more about Chanel, her book, and her work here:

https://getyourshittogether.org

 

Direct download: 497_Chanel_Reynolds.mp3
Category:general -- posted at: 12:00am MDT

Today Jesse is sharing an interview he did with Jaclyn Johnson of the Work Party podcast for her Budget Broadcast Series. Jesse talks about the early days of YNAB, how to get serious with your side hustles, and explains the Four Rules to a new audience.

 

You can find more from WorkParty, including the original interview, here:

https://dearmedia.com/shows/work-party/

Direct download: 496_WorkParty_REBROADCAST.mp3
Category:general -- posted at: 12:00am MDT

Jesse chats with Sami Womack, who paid off nearly half a million dollars of debt after hitting financial rock bottom during the birth of her first child. Stuck in a different city on business travel, her husband almost missed a flight home to be at the birth... because they had maxed out all their credit cards, and the last minute ticket was $800.

 

Sami and her husband had made most of the financial mistakes you could make. They were behind on all of their bills, including mortgage payments and property taxes. They had three properties -- their home, a rental home, and a piece of land Sami intended to build a business on but could not secure financing -- but were facing foreclosure on them. They were eating out frequently, and spending lots of money on food.

 

The added stress of children brought them to a financial breaking point, at which point Sami started googling for help. She found YNAB, and began budgeting her current dollars, instead of her future dollars, for the first time. It took a major lifestyle adjustment, and the sale of their land and rental property, but the Womack's managed to pay off their debt.

 

Sami now helps others pay off debt and reach their financial goals with personalized coaching and budgeting plans at:

https://www.asunnysideuplife.com

 

She also hosts A Sunny Side Up Life Podcast: https://www.asunnysideuplife.com/podcast

 

 

Direct download: 495_Sami_Womack.mp3
Category:general -- posted at: 12:00am MDT

Former NFL athlete, husband, father, and coach -- a man of many identities you might say -- Anthony Trucks joins the podcast to talk about how what's holding you back from reaching your goals might just be an identity problem. Anthony runs a coaching program call Make Shift Happen where he helps people to make consistent action toward their goals in 90 days.

 

Making an identity "shift" is a key part of the process, visualizing yourself as the kind of person that does the things needed to have success in business, family, or other areas in life not because those are things you ought to do, but because they are simply a part of you. The Rock doesn't fight himself to go to the gym and workout, he does it because he loves it. Physical fitness is part of his identity. Anthony challenges us to think about what identity we want, and to start viewing ourselves as that. Then action can follow.

 

You can find Anthony, his coaching services, and his speaking engagements at:

https://anthonytrucks.com

 

 

Direct download: 494_Anthony_Trucks.mp3
Category:general -- posted at: 12:00am MDT

Jesse does NOT like payment plans, and neither should you!

 

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

Direct download: 493_Installment_Plans_and_Future_You.mp3
Category:general -- posted at: 12:00am MDT

In today's episode of Money Stories, Jesse chats with Abbie Shepherd, a clinical psychologist who recently earned her PhD and is working her first real job after her long journey in higher education. Most people understand that earning a PhD takes a lot of academic rigor, but few realize that it is very taxing on the budget as well. In addition to incurring student debt during the multi-year PhD process (usually preceded by a Masters degree and Bachelors degree, for which you may incur debt as well), it's difficult to work and earn money along the way.

 

In Abbie's case she typically worked for minimum wage when she could during her demanding PhD program. Meanwhile, her husband worked as a pastor, which is a lower earning field. Needless to say, money was tight during those years, but Abbie and her husband kept a clear head and long term vision. Abbie knew that a PhD would give her the most flexibility in her work -- she could work as a clinician, or teach, or both -- so they kept their expenses as low as possible while she was in school. They knew they would incur student debt for her coursework, but they worked hard to keep it to a minimum and not use student debt to fund their living expenses, like rent and food. Likewise, they limited their consumer spending, avoiding the pitfall of running up large credit card bills. By focusing on the long-term benefits of her PhD and having a strategy to minimize unnecessary debt (while being mentally OK with incurring necessary student debt), Abbie was able to ease some of the stress of her financial position as well. Nevertheless, Abbie came out of school with six figured student loan debt that she is eager to tackle.

 

As a self-described enneagram type 1, Abbie admits budgeting and planning around money comes naturally to her, but YNAB has made an impact as well. Abbie discovered YNAB just a couple months ago, but it was the concept of aging her money and rolling with the punches which drew her in. The flexibility of the software was a bonus. Abbie is a responsible credit card user, paying off her balance in full each month, and she enjoys the rewards and points she earns in the process. She likes that the YNAB software can easily help her track expenses on the credit alongside her bank account.

 

Abbie has created an Instagram account to report on her debt paydown and budgeting tricks. You can follow her there @budget_crush.

 

 

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

Direct download: EP07_Money_Stories_Abbie_Shepherd.mp3
Category:general -- posted at: 12:00am MDT

Jesse chats with marketer and entrepreneur Noah Kagan, former Director of Marketing at Mint, former Facebook employee, and currently the owner of AppSumo, a daily deals website which offers entrepreneurs discounted software from top software companies. In a sprawling conversation, they touch on the critical importance of taking action on your ideas in business, determining why you want money in the first place, setting one-year gameplans, and more.

 

AppSumo

https://appsumo.com

 

Noah Kagan on YouTube

https://www.youtube.com/user/crxnamja

 

Be sure to subscribe and post a comment for a chance to win an iPad!

 

Direct download: 491_Noah_Kagan.mp3
Category:general -- posted at: 12:00am MDT

Assets? Liabilities? Balance sheet? FBI's? What does it all mean? Jesse helps you understand some of the basic financial terms that come up often in YNAB, as well as some YNAB-specific lingo related to the software and the budgeting process.

 

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

Direct download: 490_YNAB_Vocabulary.mp3
Category:general -- posted at: 12:00am MDT

Jesse walks through some hidden features of the YNAB software you probably didn't even know existed!

 

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

Direct download: 489_YNAB_Features_You_Didnt_Know_Existed.mp3
Category:general -- posted at: 12:00am MDT

While there's no way to prepare for being a parent without actually becoming a parent, you can prepare financially for the experience. Chelsea Brennan shares some tips on how to do this, and what kind of difficult conversations you need to have with your spouse and family as part of the process.

 

After a successful career as an equity analyst and hedge fund portfolio manager on Wall Street, Chelsea became a mom and followed a new passion in life -- helping other moms be more financially stable and reduce their money stress. Today she runs a website and podcast dedicated to this mission called Smart Money Mamas, with resources for helping moms define their values, have important conversations, and take steps toward securing their financial future.

 

Smart Money Mamas website: https://smartmoneymamas.com

Smart Money Mamas Podcast: https://smartmoneymamas.com/podcast/

 

Direct download: 488_Chelsea_Brennan_Smart_Money_Mamas.mp3
Category:general -- posted at: 12:00am MDT

At YNAB your data is exactly that -- YOUR data. Financial data is personal and sensitive, and as Jesse explains, YNAB does not and will not touch that!

 

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

Direct download: 487_YNAB_and_Privacy.mp3
Category:general -- posted at: 12:00am MDT

Jesse chats with productivity master Jeff Sanders, host of the 5AM Miracle podcast. As the title of his podcast suggests, Jeff loves to wake up early, but he doesn't necessarily think you should. Instead, Jeff focuses on setting clear boundaries around your work time, family time, and personal development time (especially physical fitness).

 

Especially in the remote working arrangements that are increasingly common today, it's important to separate the home office from the kitchen, living room, and bedroom. Too often the proximity of the home office lures remote workers into working all day, with no clear lines between work time and personal time. This leads to lower productivity, more stress, more burnout, and more tension in relationships. In his podcast and his productivity coaching work, Jeff shows how you can set better boundaries around work and personal life and live life with more intention.

 

You can find Jeff at his website: https://www.jeffsanders.com

 

5AM Miracle Podcast: https://www.jeffsanders.com/podcast/

 

 

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

Direct download: 486_Jeff_Sanders_5AM_Miracle.mp3
Category:general -- posted at: 12:00am MDT

In today's money story, Jesse chats with Erika, a 32 year old married woman who found herself struggling in the deep end of credit card debt. Until YNAB, Erika always managed her money with her bank statements -- if there was enough for her current outflows, good! There wasn't much of a plan or cushion for surprises, however.

 

Shortly after getting married Erika began to feel trapped in her debt payments, which had become burdensome due to the credit card debt she and her husband had racked up for their wedding. After some close calls where she questioned their ability to even pay the rent, Erika discovered YNAB and began to make changes.

 

While she and her husband are still climbing out of the hole, they've made a big dent in their debt load and have created a solid plan for aging their money, acknowledging their true expenses, and rolling with the punches.

 

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

Direct download: EP06_MoneyStories_Erika.mp3
Category:general -- posted at: 12:00am MDT

Jesse chats with author Mary Marantz about her book Dirt, the story of her life journey growing up in poor, rural West Virginia to eventually attending Yale Law. Mary grew up with a strong, hard working father who instilled in her a vigorous work ethic and a love for her hometown. However, her working class roots cast a shadow of doubt over how high she could climb in the world, and how qualified she could feel amongst those from different, more economically priveleged backgrounds. Dirt is the story of Mary reckoning with the good and bad of her upbringing, and how it shaped her into the woman she is today.

 

How does this relate to money? Money is all about feelings, and often our upbringing instills deeply seated ideas about how to earn and spend money that are hard to shake as adults. Mary's story is a powerful reminder that doing the work to better understand yourself, your history, and your place in the world prepares you to make lasting changes to your decision making around money.

 

Dirt by Mary Marantz

https://marymarantz.com/dirt

 

Mary Marantz on Instagram

@marymarantz

Direct download: 484_Mary_Marantz_Dirt.mp3
Category:general -- posted at: 12:00am MDT

Student loan payments have been frozen for several months due to COVID-19, but that doesn't mean your budget has to be frozen. Jesse strategizes ways for you to address student loans during the grace period.

 

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

Direct download: 483_Student_Loans_Are_Frozen_But_You_Are_Not.mp3
Category:general -- posted at: 10:10pm MDT

Jesse chats with Laura Vanderkam and Sarah Hart-Unger, two time management experts and the hosts of the Best of Both Worlds Podcast, a show all about balancing busy lives and careers.  Sarah is a pediatric endocrinologist while Laura is a writer (and author of I Know How She Does It), and both of them are also busy mothers. While they approach the challenges of time management with different strategies, they are both experts in making things fit in a busy life without getting burned out.

 

Sarah and Laura point out that the things you spend your time on -- the things you say yes or no to -- are ultimately a reflection of your values. If something doesn't fit in your priorities, you simply won't do it. Sounds familiar, eh? Money, or rather the things you spend money on, is also a reflection of your values, as Jesse has argued on previous shows. So, the first step in wrangling your time management problem is to take a hard look at the things you value and see if the things you are spending your time on actually align with those values.

 

Secondly, Laura reminds us that everyone has the same amount of time in a week to get things done, to relax, to pursue hobbies. 168 hours every week, in fact. Unlike money, this resource is equally distributed to all, and we cannot change the amount of time we have. So, being mindful of how you spend your weeks not in days, but in hours, can be a useful exercise. Do you have a hobby that you wished you spent more time on? A stack of books you wish you could finally read? Start tracking your time, and you might be surprised to find a spare hour or two that you were previously wasting on mindless tasks (or social media). Like spare change, these hours can slip between the cushions of the weekdays and weekends.

 

Best of Both Worlds Podcast

https://theshubox.com/best-of-both-worlds

 

Laura Vanderkam

https://lauravanderkam.com

 

Best Laid Plans Podcast with Sarah Hart-Unger

https://theshubox.com/best-laid-plans-podcast

 

 

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

Direct download: 482_Laura_Vanderkam_Sarah_Hart-Unger_Time_Mgmt.mp3
Category:general -- posted at: 12:00am MDT

Whether it's because of changing careers, preparing for a child, or some other life event, you and your partner may need to downsize from two incomes to one. This has a major impact to your budget! But, with some planning, you can make a smooth transition. The easiest way, Jesse says, is to live on a single income before actually losing the second income. With a little help from YNAB, you can practice this and ensure that when the second income goes away, you know how to make your dollars stretch without stress.

 

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

Direct download: YNAB_481_-_How_to_Go_From_Two_Incomes_to_One_master_v1.mp3
Category:general -- posted at: 12:00am MDT

New York Times columnist and bestselling author Ron Lieber joins the podcast for a frank discussion about the ever rising cost of college and whether it's even a good idea for young people today. Evaluating the true cost of college, as it turns out, is essentially a budgeting exercise. There's the sticker price for tuition and room and board, but the real analysis lies in examining the hidden costs, as well as the hidden benefits. Ron Lieber helps us break those down and demystify the college problem.

 

Ron Lieber

https://ronlieber.com

 

The Price You Pay for College

https://ronlieber.com/books/the-price-you-pay-for-college/

 

 

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

Direct download: 480_Ron_Lieber_What_Does_College_Really_Cost.mp3
Category:general -- posted at: 12:00am MDT

Buying a house is a stressful experience, especially in the current market where low supply and high demand have pushed prices up and up. Naturally, house shoppers worry about overpaying for a house, or whether they've overpaid for a house they've already bought. We'd all like to perfectly time the market and buy at the lowest possible point, but it's very difficult to do.

 

Jesse reminds house shoppers to check in with their reasons for owning a house before they worry. Is your house a real estate investment that you are buying with an exit strategy? Then purchase price is very important, and you should be worried about overpaying!

 

But are you buying a house to be your home? In that case, it's not an investment, it's the place where you live, and the purchase price only matters insofar as it fits your budget. If you value the lifestyle that a house offers, and that house fits your budget, then don't sweat whether you have overpaid or not. You are giving your house dollars the job of securing housing that fits your needs.

 

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

Direct download: 479_How_to_Time_a_Home_Purchase.mp3
Category:general -- posted at: 12:00am MDT

What does budgeting have to do with nutrition? A lot, actually, explains Kali Langevin, a nutritionist and Registered Dietitian who has spent 16 years working with athletes in United States Soccer Federation. Kali is also a long time YNAB user, and joins the podcast to explain how the Four Rules can be applied to nutrition. Much like Jesse encourages people to be mindful of their spending habits -- giving dollars jobs that accomplish the things that you value -- Kali encourages people to be mindful of their eating habits, being intentional with meal times and the rituals around food.

 

Kali on LinkedIn: https://www.linkedin.com/in/kalilangevin

 

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

Direct download: 478_Kali_Langevin_Nutrition.mp3
Category:general -- posted at: 12:00am MDT

This week's Money Story comes from the vivacious Diania Merriam, founder of the EconoMe Conference which brings together speakers in the FIRE movement (Financial Independence, Retire Early). After finding herself working for a decent salary in NYC but falling deeper into debt, Diania decided to pull her head out of the financial sand and figure out where her finances stood. Around the same time, a friend introduced her to the Mr. Money Mustache blog and the concept of FIRE.

 

Armed with these tools, she started cutting her expenses and aggressively paying off debt. Eventually, Diania managed to stash away 60% of her income, and pay off $30k of debt. Ever the life of the party, Diania attributes part of her success to realizing that her happiness lies in connecting with friends and shared experiences, not necessarily in spending money in exclusive clubs. After paying off her debt, she was also able to pursue her dream of hiking the Camino de Santiago in Spain.

 

Today Diania has reached CoastFI, having already saved enough to retire in the future at the standard age of 65 but still working, albeit at a more relaxed pace. Financial independence has allowed her to pursue more fulfilling work (like the EconoMe Conference) and engage in new adventures. This, she explains, is the real American Dream.

 

Optimal Finance Daily Podcast: https://oldpodcast.com/optimal-finance-daily-podcast/

EconoMe Conference: https://economeconference.com

 

 

Direct download: 477_Money_Stories_EP05_Diania_Merriam_v2.mp3
Category:general -- posted at: 12:00am MDT

Jesse chats with Geoff Woods, President of ProduKtive, the training company behind the bestselling book The ONE Thing by Gary Keller and Jay Papasan. After leaving a high-stress and ultimately unfulfilling job in medical device sales, Geoff set out to surround himself with successful mentors. Eventually Geoff found Gary Keller and Jay Papasan, and immersed himself in their philosophy of the "one thing," that is, the concept of relentlessly pursuing the single most impactful thing you can do in your day, and arranging your schedule to accomplish that thing first.

 

Geoff describes the one thing as a stack of dominoes. Accomplishing the one thing you can do first -- "can" is the operative word here, this task must be small and easily achievable today -- topples the first domino in the chain, which topples the next, and the next, and so forth. Most people never do the work to identify this one thing, however, and get stuck spending lots of time toppling individual dominoes without ever setting off this chain reaction.

 

The connection to budgeting is clear. Before you give every dollar a job, you need to know what it is your budget needs to do for you -- what you value, what you are trying to optimize for. Once you've identified this, you can assign your dollars jobs.

 

The ONE Thing Podcast: https://www.the1thing.com/podcasts/

The ONE Thing book: https://www.amazon.com/ONE-Thing-Surprisingly-Extraordinary-Results-ebook/dp/B00C1BHQXK/ref=sr_1_1?crid=3HGDLQ2QU6QJP&dchild=1&keywords=the+one+thing+keller&qid=1615904686&sprefix=the+one+thing+ke%2Caps%2C245&sr=8-1

 

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

 

Direct download: 476_Geoff_Woods_The_One_Thing.mp3
Category:general -- posted at: 12:00am MDT

Jesse attempts to give some advice on purchasing a car... before admitting that he has no advice to give! Well, maybe a bit of advice. Jesse reminds us that optimizing your budget involves optimizing for YOUR needs and wants. Jesse chooses to lease a Tesla to drive around in, because he wanted to have as little headaches with car maintenance as possible. That's important to him today, but ten years ago his needs and wants were totally different, and thus the things he chose to optimize his budget for were too.

 

So this episode is not about how to buy the most cost-effective used car, or how to get a good deal on a new car, or anything like that. It's about examining your own needs and shaping your budget around them.

 

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

Direct download: 475_Optimizing_Your_Car_Purchase_Not_Really.mp3
Category:general -- posted at: 12:00am MDT

Bestselling author Ian Morgan Cron introduces the Enneagram, a personality typing system which identifies nine different personality types, their motivations, strengths, and weaknesses. As Ian explains, understanding your enneagram can help you better understand your motivations for why you want to do the things you do, which has direct implications in budgeting. Understanding the motivations and perspectives of others, especially those with polar differences in personality, can help you mitigate conflict and reach compromise in your family relationships and in the workplace.

 

Ian Morgan Cron is a psychotherapist, Episcopal priest, and an accomplished author. His book The Road Back to You champions the Enneagram for people that seek to better "know thyself."

 

https://ianmorgancron.com

Direct download: 474_Ian_Morgan_Cron_Enneagram.mp3
Category:general -- posted at: 12:00am MDT

Jesse reminds us that the ideal budget... is the budget which helps you achieve your goals and values. And those goals and values can, and will, change over time!

 

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

Direct download: 473_Heres_the_Ideal_Budget.mp3
Category:general -- posted at: 12:00am MDT

Robert Leonard has been a uniquely driven person since a young age. Eyeing the professional ranks of motocross at age 14 (the minimum age to turn pro was 16), he competed all over the country. When his father discouraged his going pro, Robert started working various jobs and reading about investing. By the time he graduated college, he had already purchased his first piece of real estate and began "house hacking" -- leasing spare rooms to roommates to generate cash flow to cover the mortgage.

 

Over the years Robert has continued to house hack, selling properties and rolling the profits into the next investment. He now owns a portfolio of rental properties. On the side, he also invests in individual stocks as a value investor, and enjoys the process of digging through company financials and earnings to find undervalued companies to buy and hold.

 

Robert is also passionate about teaching other people how to get started with investing in both real estate and the stock market, and he hosts two podcasts on the topic. Check the links below to follow Robert, learn more about his philosophy, and his podcasts!

 

Robert on Instagram: https://www.instagram.com/therobertleonard/

 

Real Estate 101 Podcast: https://www.theinvestorspodcast.com/real-estate-101/

 

Millenial Investing Podcast: https://www.theinvestorspodcast.com/millennial-investing/

 

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

Direct download: 472_Robert_Leonard.mp3
Category:general -- posted at: 10:00pm MDT

Sita Thomas is a woman of many talents, and many careers, having worked jobs ranging from massage therapy to data analytics. She has been using YNAB for over 8 years to help her reach her goals, including going back to school and making a career change, taking time off work to care for a terminally ill family member, and removing the day to day stresses of money from her life.

 

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

Direct download: EP04_MoneyStories_Sita_Thomas.mp3
Category:general -- posted at: 10:00pm MDT

Jesse chats with professional coach and business strategist Kelsey Murphy about how she left a high profile -- yet unsatisfying -- corporate job to travel the world with her husband. During their travels Kelsey realized she had a gift for coaching and helping others put their visions and dreams into practice. Today she runs a successful coaching business doing just that.

 

Kelsey puts a lot of emphasis on her client's values, examining them through a very practical lens. What would you like to see or do first thing when you wake up in the morning? What kind of space do you imagine yourself working in? These are a couple of the questions Kelsey might ask. Once you understand your values in clear, tangible terms, then you can focus your attention on the important tasks that will bring you closer to your vision.

 

Learn more about Kelsey:

https://www.kelseymurphy.com/careerandlifecoaching

 

Whisky & Work Podcast:

https://www.kelseymurphy.com/podcast

 

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

Direct download: 470_Kelsey_Murphy.mp3
Category:general -- posted at: 10:00pm MDT

Jesse answers your questions about small business in Q&A format.  You can send Jesse your questions and comments at: podcast@youneedabudget.com

 

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

Direct download: 469_Small_Business_QA_1.mp3
Category:general -- posted at: 10:00pm MDT

Jesse chats with Amir Salihefendic, CEO of Doist, the company behind the popular productivity tool Todoist. Between running a company and being a father, Amir has a very busy life. He explains how he keeps everything moving smoothly, including the importance of managing your energy throughout the day, not just your schedule.

 

https://todoist.com

 

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

Direct download: 468_Amir_How_to_Have_the_Most_Productive_Year.mp3
Category:general -- posted at: 10:00pm MDT

Jesse chats with YNAB's manager of support hiring, Emma Rolls, about what it takes to get hired at YNAB, what type of person fits in with the company culture, and Emma's personal experience learning about YNAB and getting hired.

 

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

Direct download: 467_How_to_Get_a_Job_at_YNAB_Emma_Rolls.mp3
Category:general -- posted at: 10:00pm MDT

Jesse identifies four common traits in people who don't stress about money.

  1. They have a cadence for checking their money. These people  regularly check-in with their budget and watch their money. It's not a panicky, reactionary review but a planned part of their week or month.
  2. They have regular conversations with themselves and/or significant others about money. These conversations are not highly charged, hostile engagements, but calm, rational discussions about what is going on day-to-day. Often these conversations aren't about money per se, but rather the things that the money is going towards. In that sense, the conversations are more about whether or not spending is happening in accordance with their values and goals.
  3. They have clarity about their priorities, values, and goals. They give their money a job, and know why they are spending.
  4. They have plenty of cash on hand. 

 

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

Direct download: 466_Four_Traits_of_People_Who_Arent_Stressed__About_Money.mp3
Category:general -- posted at: 10:00pm MDT

Writer and entrepreneur Corbett Barr joins the podcast to discuss digital mindfulness, the pitfalls of social media and endless digital content, and his own quest to find peace as a digital creative.

https://corbettbarr.com

 

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

Direct download: 465_Corbett_Barr.mp3
Category:general -- posted at: 10:00pm MDT

Jesse interviews strength coach, former pro Strongman, and founder of Barbell Logic Online Coaching, Matt Reynolds, about the many analogs between strength training and budgeting.

 

Matt relates the Four Rules to the basic tenets of effective strength training -- consistency, small increases in weight each workout that add up to big results over time, and focusing on the  things that will give you the greatest bang for your buck. Matt relates strength training to a "physical 401(k)," where the work that you do today to build you fitness and health can be drawn on later in life when the inevitabilities of aging and life events happen. Strong people are more resilient and more useful, especially in old age!

 

Matt's company, Barbell Logic Online Coaching, offers customized strength, conditioning, and nutrition coaching to individuals,  pairing each trainee with their own highly trained Barbell Logic coach.

 

If you're interested in trying out Barbell Logic Online Coaching, you can get the first month totally free when you sign up. And, YNAB listeners can get an additional $10/mo off their future months. Sign up here:

https://store.barbell-logic.com/ynab/

 

 

Take the 34-day challenge:

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

 

Direct download: 464_Matt_Reynolds_Barbell_Logic_Online_Coaching.mp3
Category:general -- posted at: 10:00pm MDT

If you've been doing the 34-Day Reset, you're in full sprint mode right now. And it might be tough! But the beauty of the reset is that it's just 34 days, and affords you some space to reflect on whether your money is working for you and helping you achieve your goals and values.

 

So stick with it, finish strong, and bask in the extra money you will have saved. You're almost there!

 

Take the challenge:

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

Direct download: 463_Sprinting_Is_Hard_But__Payoff_Is_Sweet.mp3
Category:general -- posted at: 10:00pm MDT

Jesse interviews Katie about her journey after college to Hawaii, where she went through a tough breakup and financially tenuous times. She persevered through those hard times, discovered YNAB (actually re-discovered, having first encountered YNAB in college) and began to get her budget back on track in a notoriously expensive state. The hard work paid off; Katie met her husband and was able to have a dream wedding in Hawaii, and the couple now enjoy a rich life... paid in cash!

 

Katie is quick to point out that she hasn't always made the financially optimal choice, but she is intentional about everything she does. She and her husband decided to hold off paying down their student loans in order to finance their wedding, for example. Katie has set aside money to buy her husband a new computer, and they leave room in their budget for their favorite hobbies and pursuits -- for Katie, her side business coaching women in personal finance and helping them avoid traps like MLM schemes; for her husband, collecting and competing in  the Magic the Gathering card game.

 

While this approach may result in paying down debt slower, and not maximizing savings, it's a sustainable approach for them. As Katie reminds us, personal finance is personal!

 

Are you ready to take the challenge? https://www.youneedabudget.com/34dayreset/

Direct download: EP03_MoneyStories_Katie_v2.mp3
Category:general -- posted at: 10:00pm MDT

Jesse offers three ways to stop spending money and kickstart your savings:

  1. Designate a "no spend" day. Pick a day of the week where you will deliberately spend NO money, and dutifully stick to that. Be realistic! If you usually have a date night on Friday, then pick another day. Maybe's it's a Tuesday, maybe it's a Sunday, but it should work with your schedule.
  2. Treat your savings as a purchase. In other words, change your mindset about what spending is. Instead of buying a good or service, treat your saving as "buying investments" or "buying back your debt." Some people turn buying small numbers of shares in an index fund into a game, where their investment brings them pleasure just like buying a coffee or a croissant at the local coffee shop.
  3. Identify your triggers. Pay attention when you have an impulse to buy something. Does it happen in certain places? Certain websites or forums? Perhaps on your way home from work? Find your spending "triggers," and work on ways to avoid them. Take a different route home, block or limit your access to certain websites... things you can do to help you avoid the impulse in the first place.

 

Are you ready for a financial reset?

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

Direct download: 462_3_Ways_to_Curb_Your_Money_Spending_Problem.mp3
Category:general -- posted at: 10:00pm MDT

Jesse talks with YNAB'er Liz about her recent conversion to the YNAB software, which she discovered through the social media network Tik Tok. In just six months with YNAB, Liz has already reversed her financial situation, paid off debt, and created financial  security for her family.

 

Are you ready to take the challenge? https://www.youneedabudget.com/34dayreset/

Direct download: EP02_MoneyStories_Liz.mp3
Category:general -- posted at: 10:00pm MDT

Just like weight loss, there are some people who manage to pay off their debt through a burst of willpower and concerted effort... only to fall into debt again, usually slowly. Jesse points out that often this is a failure to follow Rule Two (Embracing Your True Expenses), and discusses how you can prevent slipping into old habits in the New Year.

 

Are you ready for a financial reset?

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

Direct download: 461_This_Is_Why_You_Cant_Get_Out_of_Debt.mp3
Category:general -- posted at: 10:00pm MDT