The YNAB Podcast

Money Gets Out of the Way

Sep 23, 2024

06:48

Snipd AI

Jesse, a dedicated father and financial enthusiast, shares his evolving perspective on funding his children's college education. He candidly discusses how his previously rigid stance transformed as he faced the reality of having kids in college. With strategic savings, Jesse and his wife were able to prioritize their family's needs without the stress of financial burden. This transition has not only allowed them to assist their children but also provided a sense of freedom in making significant life decisions.

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Quick takeaways

Practicing YNAB's four habits allows families to make important financial decisions without the burden of monetary stress.

Purposeful financial management enables parents to foster meaningful experiences with their children while navigating complex decisions around college funding.

Deep dives

The Purpose of Saving and Giving

Saving is essentially a means for future spending, while giving is a joyful form of that same principle. The emphasis is on the importance of purposefully managing finances to allow for both saving and giving without unnecessary stress. For instance, discussing how to navigate financial responsibilities with children reveals the complexity parents face in decisions like whether to cover their kids' expenses or encourage independence. Acknowledging that this journey involves trial and error can foster a sense of community and support among parents dealing with similar challenges.

Navigating Financial Preparation for Major Life Moments

7min

When you practice the four habits of YNAB, money just gets out of the way. In today's episode, Jesse reflects on his thought process about paying for kids' college. Where he used to be against it, now that he has kids in college, he is helping them pay for it. As he has talked about on the podcast many times, his thoughts and opinions change over the time; the podcast is a sort of audio journal documenting these changes. But the real win here is that because Jesse and his wife put money aside for their kids, they were able to make this decision without worrying about money. The money was not a deciding factor, leaving them free to decide whether helping their kids with college was the best decision for them. And that is freeing!

Got a question for Jesse? Send him an email:

askjesse@ynab.com

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