Budgeting Like A Beast w/ Jesse Mecham (Bestie) #926

Jan 1, 2025

Jesse Mecham, the founder of You Need A Budget, shares invaluable insights on budgeting strategies. He emphasizes the need for intentionality in personal finance, arguing that budgeting can enhance enjoyment in spending. Jesse outlines his four rules of budgeting and addresses common misconceptions about credit card use versus debit cards. The conversation also touches on prioritizing meaningful experiences over material possessions, and how tools like YNAB can help individuals regain control over their financial lives.

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ANECDOTE

Early Influences

Jesse Mecham's parents instilled frugal habits by modeling, not preaching.
They lived modestly, emphasizing needs over wants, which shaped his early financial views.

ANECDOTE

YNAB's Origin

Combining meager finances with his wife, Julie, pushed Jesse to budget.
Having children intensified their need for a plan, leading to YNAB's creation.

INSIGHT

Budgeting as a Plan

Budgeting is about intentionality, not restriction.
Align spending with priorities to find financial freedom and enjoyment.

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We’re going all-in today on budgeting with our special guest Jesse Mecham! There are a number of folks listening who might recognize his name, but I’m guessing even more folks are familiar with the company he started back in 2003 while he was still in college: You Need A Budget, or YNAB as it’s commonly known. Millions of individuals have used YNAB to get on a budget which has allowed them to achieve their life-changing financial goals. Whether that’s simply paying off debt or the complicated endeavor of getting on the same page as their partner. Jesse has likely thought more about budgeting over the past 20 years than anyone else out there, so we’re excited to talk with him about all the things that he’s learned over the years. Listen as we discuss why you need a budget in the first place, Jesse’s 4 rules of budgeting, how often you should spend on your budget every month, his approach to credit cards and debt, plus much more!

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.
Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
Join a thriving community of fellow money in the HTM Facebook group.
Find the best credit card for you with our new credit card tool!
Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.
Don’t be cheap and forego getting a life insurance policy. Compare rates with Policygenius.

During this episode we enjoyed an Igneous IPA by Hutton & Smith! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

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