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You Need A Budget (YNAB)

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A weekly dose of just the right medicine to help you get out of debt, save more money, and beat the paycheck to paycheck cycle. Continue Reading >>
A weekly dose of just the right medicine to help you get out of debt, save more money, and beat the paycheck to paycheck cycle. << Show Less
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That Magical Moment (When You Really Want Something) 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
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Snippet of You Need A Budget: Opting Out of the Credit Card Game You Need A Budget distinguishes the differences between using a Debit Card versus a Credit Card in this snippet. We also learn about the incentives and tricks that banks use to keep us swiping our credit cards. Is it possible to opt-out of credit cards and what are the cons of doing so?
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That Magical Moment (When You Really Want Something) 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
Ask Jesse: Kids, Allowances, and Cringey Purchases 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
Budgeting for the Nomadic Life 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
Ask Jesse: What's the Deal with Whole Life Insurance? 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
Debt and Pay Later Plans: An Independence Day Rant 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
What If Your Coworkers Weren't Stressed About Money? 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
Ask Jesse: How Do You Move On... From Budgeting? 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
Mid-Year Check In: Are You Still Clear On Things? 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
Ask Jesse: What Do I Do With My Investments Now? 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: The Little Book of Common Sense Investing by Jack Bogle A Random Walk Down Wall Street by Burton Malkiel The Bogleheads Guide to Investing The Four Pillars of Investing by Bernstein   Send Jesse an email at: askjesse@ynab.com   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
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