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The Jesse Mecham Show

231 - When You're Paid Every Day

The Jesse Mecham Show

YNAB

Kids & Family, Education

4.71.1K Ratings

🗓️ 4 July 2016

⏱️ 3 minutes

🧾️ Download transcript

Summary

How do you handle things when you're paid every day? The same way.

Transcript

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0:00.0

Hello, whinabbers. My name is Jesse Meekam, and this is podcast number 231 for Wienam, where we teach you four rules to help you stop living paycheck to paycheck, get out of debt and save more money.

0:20.0

A lot of you wonder, how do I do this if I'm paid fill in the blank right if I'm paid every two weeks

0:26.9

once a week every other week

0:30.3

Byweekly fortnightly I just wanted to say that one, monthly. What if you're paid every day?

0:38.1

What if you are, like me in high school where I twisted balloons for people at restaurants, made pretty good money, teaches you

0:44.6

how to talk to people, and yeah you're paid every day, you get tips.

0:51.0

What do you do then?

0:52.0

Well, you don't want to have to budget every single day because that would be

0:55.3

monotonous, boring, and wouldn't add a lot of value. And there's always that balance between

0:59.7

the frequency of the activity and the return.

1:02.5

And you do as the frequency increases start to experience

1:05.4

diminishing returns.

1:06.3

And that happens with your budgeting frequency.

1:08.7

So you just agree upon a time.

1:11.0

And don't really worry about your paycheck cycle.

1:13.0

And I know if you're living paycheck to paycheck, you still have to,

1:15.0

because you're still trying to time things with your paychecks.

1:18.0

But we'll get away with that as you age your money and start to spend money that's at least 30 days old,

1:22.0

money you earned at least 30 days ago.

1:25.7

But just decide on a frequency that's good for you.

1:28.4

So if you're paid every day, maybe you say, hey, on Saturdays I'm going to tally it all up and record it and budget that money and just

1:35.2

ask myself that classic question, what should this money do before I'm paid again?

...

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