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The YNAB Podcast

145 - Money is...

The YNAB Podcast

YNAB

Consolidation, Total, Budget, Dave, Peace, Money, A, Education, Ynab, Finance, Bankruptcy, Makeover, Fpu, Software, Management, Personal, Need, Ramsey, Financial, University, Debt, Kids & Family, You

4.71.1K Ratings

🗓️ 10 November 2014

⏱️ 3 minutes

🧾️ Download transcript

Summary

Viewing money for what it represents seems to lend itself to a pretty healthy outlook on life.

Transcript

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0:00.0

Hello, whinnebers. My name is Jesse Meekham and this is podcast number 145 for you need a budget

0:15.8

to where we teach you four rules to help you stop living paycheck to paycheck, get out of debt,

0:20.8

and save more money. And we seem to talk about money all the time. Money, money, money.

0:27.0

It's everywhere. Whole TV shows dedicated to it, tons of books including mine, all dedicated to money, my whole business,

0:35.7

dedicated to helping you manage your money better.

0:39.8

But in the end, what are we really talking about one of my favorite

0:43.8

favorite personal finance books of all time is by Joe Dominguez who I believe is

0:49.4

now passed away and it is called your money or your life. The book does a great job of

0:57.4

changing how we view money and starting to see money as a representation of our time.

1:04.7

So if you look at money that you've earned

1:07.8

and then you consider all the time you spend earning it,

1:10.9

you start to see that your money is your life. It is. it is just

1:15.0

what you're spending your life doing.

1:17.0

So time is the true currency and money is just a representation of it.

1:23.0

That struck a court with me and it helped me realize that I didn't always have to be seeking more money,

1:30.0

that sometimes we can optimize to have more time pursuing a hobby that we love or spending time with family or just relaxing and

1:41.0

relearning how to enjoy a little bit of leisure. So money at the end of the day

1:49.2

isn't really what you focus on. What you focus on is the time you spend, the relationships you enjoy.

1:56.3

And I think as we focus on those relationships, on growing, on learning, you find out that a lot of the things that we consume don't really bring

2:08.2

us any closer to finding happiness and finding joy.

2:13.0

If we have a little bit of autonomy,

2:15.0

if we have something we're passionate about,

...

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