Budget Nerds

#84 - How I Learned to Stop Worrying and Love My Unexpected Expenses

Feb 21, 2024

The podcast discusses embracing true expenses, including unexpected costs as opportunities for growth. It highlights prioritizing family safety and health expenses, managing unexpected costs without incurring new debt, and exploring the importance of having a will for peace of mind.

43:12

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Quick takeaways

Embrace unexpected expenses as a reflection of your values and prioritize them with gratitude.

View creating a will as an essential act of taking care of loved ones, bringing peace of mind.

Deep dives

Embrace Your True Expenses

The podcast episode emphasizes the importance of embracing true expenses and shifting the mindset towards enjoying spending money on non-monthly expenses. It encourages listeners to view these expenses as bringing good things into their lives and to be grateful for the opportunity to take care of the things that matter.

Introduction

1min

Embracing True Expenses

16min

Unexpected Expenses and Financial Priorities

13min

Importance of Having a Will

4min

Resolving Unexpected Expenses for Peace of Mind

2min

Prioritizing Family Safety and Health Expenses

2min

Embracing Budgeting Tools and Falling in Love with Money

3min

Embracing Unexpected Expenses and Ongoing Financial Planning

2min

Rule Two of YNAB's Four Rules is "embrace your true expenses." True expenses are expenses that may not be regular, but are a normal part of life: new tires, HVAC repairs, emergency doctor visits. Sometimes they are expected -- every car and house will need repairs eventually -- and sometimes they are unexpected, like a trip to the emergency room. All the same, we usually end up cursing them when we have to pay up!

In today's episode, Ben and Ernie invite you to change your thinking about true expenses, especially unexpected expenses. With a shift in mindset, unexpected expenses can be a wonderful expression of the things your value. Need a costly tree removal in your backyard? Perhaps that's the price of giving your kids a safe place to play outside. Frustrated about an expensive birthday party? Maybe it's something your spouse really values. As Ernie points out, embracing your unexpected expenses can be an exercise in thinking outside yourself and your own desires.

So, the next time you get hit with an unexpected expense... take a deep breath, then consider how you could not only accept it without anger, but even love it.

Ben's blog post:

https://www.ynab.com/blog/how-to-embrace-your-true-expenses

Share your YNAB wins with Ben and Ernie!

budgetnerds@ynab.com

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https://www.youtube.com/channel/UCuIUGmbCDklkDCDm-cQqv2g