4.7 • 1.1K Ratings
🗓️ 11 May 2015
⏱️ 5 minutes
🧾️ Download transcript
Question your financial scar tissue. Are all of those accounts still (really) necessary?
Click on a timestamp to play from that location
0:15.9 | Hello, why neighbors, my name is Jesse Meekam, and this is podcast number 171 for you need a budget where we teach you four rules to help you stop looking paycheck to paycheck get out of debt and save more money. |
0:22.0 | The question of the day as we take a run down simplicity lane. |
0:26.2 | It's a straight lane, not a lot of curves, not a lot to look at, just simple. |
0:31.3 | And I want to ask you, how many accounts do you have does it matter maybe you comfortable |
0:37.7 | with how many there are sure because you've been doing it for a while have you ever |
0:41.9 | questioned why you have the accounts you do? |
0:45.3 | Do you have what we call account scar tissue? |
0:49.3 | So you set up this account that one time to solve that one problem well before you'd heard of |
0:55.6 | Wienap and that account still exists and does a few things for you. |
1:01.2 | Maybe you had another account set up because they used to do those signing bonuses back |
1:04.5 | in the day. Remember that? When you sign up for an account, they'd give you 50 bucks or something? |
1:09.1 | It's enticing. Banks want you to have as many accounts as possible. |
1:13.2 | Have you ever walked into a bank |
1:14.3 | and you said, I need a checking account? |
1:16.1 | And they say, oh great, checking account. |
1:17.7 | It's no fee, blah, blah, blah, blah, and then they say, |
1:21.2 | all you gotta do is, and it always happens at least at my bank |
1:25.4 | all you got to do is just set up we're going to set up the super simple thing where we set up this |
1:29.6 | separate savings account for you it will be used as your overdraft protection in some way. |
1:35.6 | And all we do is just set up a simple transfer once a month, $100 to go from your checking |
1:40.7 | your savings, and now it's feeless, no minimum balance, yada-y-out. |
1:45.4 | Every time they do this, I set up for a rental properties. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from YNAB, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of YNAB and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.