Budget Nerds

#87 - Stop Making Boring Financial Goals

Apr 3, 2024

Ben and Ernie discuss the importance of setting meaningful financial goals beyond saving and paying down debt. They emphasize the need to have a clear 'why' behind goals, sharing inspiring stories of unique goals like building a college endowment and traveling in a custom bus. Listeners are encouraged to align their financial decisions with their values and priorities to find fulfillment.

44:52

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Quick takeaways

Financial goals should be meaningful and aligned with personal values to drive successful outcomes.

Explore unique and creative financial goals that go beyond traditional saving and spending habits to express individual priorities and values.

Deep dives

Challenging Traditional Financial Goals

Many people set generic financial goals like saving more or spending less, but the podcast episode challenges these by urging listeners to aim for more unique and exciting goals.

Introduction

3min

Financial Goals: Beyond the Ordinary

4min

Empowering Financial Transformations

22min

Investing in a $10,000 Acoustic Violin Dream

2min

Setting Exciting Financial Goals

7min

Exploring the 'Why' Behind Financial Goals of Any Size

2min

Optimizing Credit Card Funds

5min

Ben and Ernie respond to a recent survey reported by Jill Schlesinger on CBS Morning about American's 2024 financial resolutions. The top responses: save more money (41%), pay down debt (38%), and spend less (30%). BORING! Ben rants about why "spending less money" is not a good financial plan, and Ernie highlights the importance of putting a why behind goals like paying down debt. There's nothing wrong with paying down debt, of course, but to be successful, and to to truly practice the YNAB habits, there needs to be a reason why you want to pay down the debt. Maybe it's to fund a vacation that you haven't been able to take before, maybe it's to buy something big for your favorite hobby, or maybe it's to fund a charitable cause. As Ben explains, your spending is part of the way you express yourself in the world, so you need to be clear with your priorities and values.

To that end, Ben and Ernie share some of the most interesting financial goals and resolutions sent in by fellow budget nerds. From buying a forever violin, to founding a college endowment, to traveling the US in a custom-built bus, there are very creative and meaningul responses!

Share your YNAB wins with Ben and Ernie!

budgetnerds@ynab.com

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