You Need A Budget (ynab)

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

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 actuall

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

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

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 f

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

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

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 rea

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

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

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

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 t

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

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.youneedabu

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

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

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

Jesse identifies four common traits in people who don't stress about money. 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. 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. They have clarity about their priorities, values, and goals. They give their money a job, and know why they are spending. They have plenty of cash on hand.    Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

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

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 fr