The Jesse Mecham Show

In Part 2 of the Why I Hate Debt miniseries, Jesse explains why debt is a non-negotiable for him, and why is should be for you too.   At 22 years old, trying to finish his Masters degree and expecting his first child, Jesse found himself caught between two non-negotiables: 1.) Living without debt, and 2.) Allowing his wife to quit work to focus on raising their child. The problem? They didn’t have enough money to last until Jesse started working his new job after graduation, even living a very frugal existence.   At this point, it would have been so easy to simply sign for a student loan to cover the shortfall. It was only about $7,000. Other students around him were borrowing far more. The interest rates were low, the payback period would be short… debt was the easy way out.   But choosing to borrow would have blinded Jesse to the possibility of another solution, another way to make up the shortfall. The constraints of his non-negotiables led him to start selling his budgeting spreadsheet, which eventually turned into You Need A Budget.   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Jesse hates debt, and you should too. Debt service constricts our cash flow, limits out ability to do other things like savings and investing, and generally introduces more stress into our lives. In this first part of a mini-series on debt, Jesse makes a case for living completely debt-free.   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com  

Some of you may be thinking, YNAB sounds great, but what if I don't get a regular paycheck? How am I supposed to budget with that? Well, first off, you definitely need a budget! Planning to fund your expenses in future months becomes more critical the more variable your income is.   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Jesse is thinking about launching a separate podcast to discuss small business, internet marketing, and how you can use YNAB to manage your business cash flow, and he wants to know what you think!   Would you be interested in a business-focused podcast? What kind of topics would you like to hear about?   Email Jesse at podcast@youneedabudget.com and share your thoughts!   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Jesse asks the most important question about your reasons for getting out of debt, saving money, and achieving your financial goals. Why?   Why do you do it? What's the reason behind the goals? If you could write a mission statement for your life, what would it say? Answering the simple question "Why?" might be the most important thing you do after you complete the blocking and tackling of paying off debt and building an emergency fund.   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

"FI" is an acronym that has steadily grown in popularity over the last decade, though the concept is much older than that. It stands for financial independence -- some people call it early retirement (the longer acronym FIRE stands for financial independence, retire early) -- but the idea is simple. Live below your means, drastically increase your savings rate and accumulate enough wealth to "retire" or perhaps better said, until you can do what you want to do.   Time and savings rate are the key components of financial independence. What if you could save half of everything you make? What if you started doing that from the beginning? Jesse shares some lessons he's trying to instill in his kids as they take their first steps toward financial independence.   Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Explore the concept of setting arbitrary milestones in financial goals to drive progress and celebrate achievements. Learn how changing your milestones can make fiscal responsibility more enjoyable and effective. Harness the power of small victories and consistent budgeting for long-term financial success.

Learn how to strategically order your budget categories for financial clarity and prioritize expenses by distinguishing between 'above the line' necessities and 'below the line' items. Discover ways to eliminate non-essential costs and align your budget with your priorities for more conscious spending.

Why do we become desensitized to the upticks in price of just about everything?     Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

"We could spend less if we wanted to."     Sign up for a free 34-day trial of YNAB at www.youneedabudget.com