The Jesse Mecham Show

Inspired by the ideas in Morgan Housel's book The Psychology of Money, Jesse discusses the meaning of the word "wealth," and how we define wealth in our own lives. Is it just about money in the bank, or is it about our physical health too? Or family health, or liking our job, or having options in life? It turns out, wealth can mean many different things, and perhaps it's best to look at wealth as a spectrum rather than simply a pile of money in the bank.   The Psychology of Money by Morgan House https://www.collaborativefund.com/blog/the-psychology-of-money/  

Did you know Jesse has another podcast all about business? He and veteran YNAB'er and virtual CFO Mark Butler have launched Beginning Balance to talk about the lessons they've learned consulting with other businesses as well as managing their own businesses. In today's episode, we are rebroadcasting an episode of Beginning Balance which looks at how applying Rule One -- Give Every Dollar a Job -- to a business can actually help improve its strategy.   Beginning Balance on Apple Podcasts https://podcasts.apple.com/us/podcast/beginning-balance/id1569423517   Beginning Balance on Spotify https://open.spotify.com/show/7APubdzXN2eeeMdNpCLkiy?si=1e2af4932ca643eb  

When did that happen? It seems like the year was just getting started, and all of a sudden it's mid-October. The holidays are coming soon -- have you been creating space in your budget for your holiday spending? If not, it's not too late! There's still time to set some cash aside in your holiday spending category, plan your expenses carefully, and make some choices about your travel plans and gift giving this year.   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

It's normal to want some amount of luxury or finery in your life, but have you considered the true cost of luxuries? There might be more to it than just the sticker price...   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Jesse answers a listener-submitted question. If you've paid off your debt, and you have an emergency fund, should you start investing in the stock market? If your goal is to build wealth -- and there are many good reasons to -- then investing in the stock market is a great way to do that.   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Did you know YNAB is on Tik Tok? Yep, thanks to YNAB team member Sarah Schweisthal, You Need A Budget has been lighting up Tik Tok "stitches" with budgeting advice for the yoots. Sarah talks about her work sharing the Four Rules on Tik Tok, as well as her own budgeting journey going from being deeply in debt to traveling full-time in a travel trailer.   Follow YNAB (and Sarah) on Tik Tok: https://www.tiktok.com/@youneedabudget?lang=en   Take the 34-day challenge: https://www.youneedabudget.com/34dayreset/

It's been hot for years, and has recently become white hot. Cryptocurrencies have the potential to change money and finance in a profound way, but does that make it a good investment, or mere speculation? How would you invest in crypto anyway? Jesse offers his thoughts on this incredible 21st century innovation.   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Jesse speaks with renowned financial journalist William Green about his new book -- Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life -- in which Green interviewed numerous billionaires, fund managers, and legendary investors about their investing wisdom, mindset, and even philosophy. Even if you are just a passive index investor who does not aspire to purchase individual securities, the words of these accomplished investors contain much wisdom.   Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life by William Green https://www.amazon.com/gp/product/1501164856?ie=UTF8&tag=thewaspos09-20&camp=1789&linkCode=xm2&creativeASIN=1501164856     Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

School is back in session! And today, Jesse and Matthew Amster-Burton are discussing everything you need to do to get started investing for retirement. They break down the different types of  investment accounts, mutual funds and index funds, bonds, and a few simple, stress-free strategies for investing.   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Jesse chats with Dustin Heiner, a real estate investor who quit his job five years ago after building a passive income stream sufficient enough to live on. Dustin received a wake up call several years ago when he was laid off from what he thought was a stable government job when his department lost funding. Although he was able to find a new position in a different department, he vowed to never be in that position again, so he put his energy into building a sustainable business out of real estate.   Dustin argues that most people have real estate investing backwards -- they look for good properties, buy one, then try to figure out how to make a business out of it. He works the opposite way, building systems and an operating model for the business -- how he will find tenants, how he will contract with property managers, how he will finance the property purchase, etc -- before buying a single property. Once the business is worked out, he can buy as many properties as he likes and slot them into his inventory. At the end of the day, the property is not the business, he says, it's inventory for the business!   Dustin has started a website and coaching service to help others learn to invest in real estate and build passive income streams. You can find him at: https://www.masterpassiveincome.com     Sign up for a free 34-day trial of YNAB at www.youneedabudget.com