The Jesse Mecham Show

A Fun Way to Do Fun Money

Jul 22, 2024

Kyle, long-time YNAB software engineer, shares a fun way to handle 'fun money' by creating separate bank accounts with separate budgets to keep spending separate from his spouse. This method allows for guilt-free spending and surprises for each other. Jesse and Kyle discuss the benefits of this approach, despite typically advocating for simpler bank accounts.

07:19

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Episode guests

Kyle

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Quick takeaways

Separate bank accounts for 'fun money' can remove guilt and enhance surprises in spending.

Allotting 'fun money' within a budget allows for personal enjoyment and reduces financial strain.

Deep dives

The Importance of Giving Every Dollar a Job

Assigning a specific purpose to every dollar in your budget is crucial to gaining a clear understanding of your financial resources. Recognizing the finite nature of money promotes thoughtful spending decisions, ensuring that each dollar serves a defined role. By acknowledging that money is not limitless, individuals are encouraged to prioritize and allocate funds deliberately.

Exploring the Concept of Fun Money in Budgeting

7min

Jesse shares a fun way to handle "fun money" from long-time YNAB software engineer Kyle. Kyle suggests creating separate bank accounts for fun money with separate budgets as well. His method evolved from the desire to keep the visibility of fun money separate from his spouse, so they could 1.) take any judgment or guilt away from spending fun money, and 2.) spend on fun things for each other without ruining the surprise!

Ordinarily, Jesse advocates for simplifying your bank accounts as much as possible, but Kyle is a veteran YNAB'er and his method may be a fun experiment for you to try in your own family!

Got a question for Jesse? Send him an email:

askjesse@ynab.com

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