The YNAB Podcast

When Expenses Rise: Ben Rolls With the Punches

Aug 14, 2023

09:41

Snipd AI

Discover how to handle increased expenses in your budget and roll with the punches emotionally. Learn from Ben's experience renovating a bathroom and find out how he keeps his spirits up when plans have to be put on hold. Explore rising child care expenses, unexpected setbacks, and the importance of staying positive and disciplined in budgeting.

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Budgeting helps navigate financial setbacks and provides financial security

View setbacks as part of the journey and prioritize spending to find contentment

Deep dives

The Benefits of Budgeting

The host shares his experience of facing financial setbacks, such as his wife's layoff and the increasing cost of childcare. However, he emphasizes the importance of budgeting in navigating these challenges. He discusses how having an emergency fund and a budgeting practice helped them make informed decisions and provided them with financial security during difficult times. Despite the need to adjust their budget and postpone some goals, the host expresses gratitude for the discipline and benefits that budgeting has brought to their lives.

Introduction

2min

Rising Child Care Expenses and the Need to Hire a New Nanny

3min

Dealing with Unexpected Financial Setbacks and Finding Gratitude Through Budgeting

1min

Adapting to Changes and Finding Contentment in Budgeting

3min

What do you do when the biggest line item in your budget increases, like, a lot? You engage your Rule Two super powers and roll with the punches of course. Emotionally, however, it's not easy when you have to reallocate dollars away from categories to handle the increased expenses in another category. It's not just a math problem -- each of those dollars symbolizes intentions and plans, which now must be put on hold, or changed altogether.

In Ben's case, it's renovating a bathroom badly in need of a refresh. In this episode, Ben shares how he keeps his spirits up when he has to roll with punches and put plans on hold.

Got a question for Jesse? Send him an email:

askjesse@ynab.com

Follow Ben and Ernie on the Budget Nerds Podcast

Apple: https://podcasts.apple.com/us/podcast/budget-nerds/id1606054345

Spotify: https://open.spotify.com/show/0H1u8pqYrvz6zj6noHbkB3?si=fc181a82b8d540a6