The Jesse Mecham Show

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 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/

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/

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/

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

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/

Discussion on how some individuals fall back into debt after initially paying it off due to failure to follow Rule Two (Embracing Your True Expenses). The podcast also talks about a financial reset challenge to prevent debt accumulation, emphasizing the need for proactive money management and accounting for future financial obligations to avoid reliance on credit cards.

YNAB is bringing back the Debt Stories... but this time we're calling it "Money Stories." In this series, Jesse interviews YNAB users about their incredible stories using YNAB to pay off debt, plan for life, build their savings, and more. In this episode, Jesse interviews 34-year old nurse Trish. Though very hard working and driven to succeed, Trish found herself in $50,000 of debt despite working multiple jobs. Her unusual work arrangement meant that she went long periods of time between paychecks -- sometimes receiving multiple paychecks at once, months apart -- during which time she began relying on credit cards to ensure she had enough money to cover emergencies and unexpected expenses. The credit card balance continued to climb, however, and, when combined with her car note and student loans, the monthly payments began eating up a large portion of her cashflow. Fed up, Trish decided to make some changes. Focusing her energy and work ethic on her money, Trish decided to make drastic moves to pay down her debt for good. She began by selling nearly everything she could in her flat on Facebook, netting nearly $3,000. In addition to her two or three regular jobs (besides nursing, she teaches at a university and works as a technician for a pottery studio), she took small jobs whenever she could: transcribing, dog walking, etc. It was an intense experience, and she knew she could not sustain it long term, but harnessing her energy in these bursts jumpstarted her savings. Are you ready to take the challenge? https://www.youneedabudget.com/34dayreset/

Jesse issues a New Years' challenge for YNAB'ers. For the next 34 days, abide by just three rules: Write down every single thing you spend money on. You can do this in YNAB, or on a sheet of paper, but it must include every penny spent! Purchase ONLY essentials. Essential means you must have it to live. Do not eat out, or order take-in from restaurants. No restaurant spending, full stop. It's only 34 days, you can do it! YNAB's data and experience has shown that people often find hundreds, even a thousand, extra dollars in their budget by doing these three things. In particular, eating out has proven to be the number one most common drain on the budget. Remember, this is only for a short time! It's a small amount of hardship to endure, that can provide a major boost your savings and financial health to start the New Year. Start the reset today: https://www.youneedabudget.com/34dayreset/