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The Jesse Mecham Show

315 - Savings: Undetected.

The Jesse Mecham Show

YNAB

Kids & Family, Education

4.71.1K Ratings

🗓️ 5 March 2018

⏱️ 8 minutes

🧾️ Download transcript

Summary

A little experiment to amass a lot of money.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello, Winebbers. My name is Jesse Meekham and this is

0:06.7

podcast number 315 for Wineb, where we teach you four rules to help you stop

0:10.5

living paycheck to paycheck, get out of debt and save more money.

0:15.0

I'm talking to you specifically here. Yes, you, very specifically you, I would like you to bump up what you save for retirement by 1%.

0:30.0

So if you make 40 grand a year, that means that you will, because we will lop off a zero, that's

0:35.4

10%, so that's 4,000.

0:37.4

Lop off another zero, that makes it 1%, that's 400.

0:41.6

You will say, hey, I'm going to save an extra 400 bucks per year.

0:47.0

I'm going to set it aside for myself. I'm going to purchase some freedom with it.

0:51.0

So $400. You divide that by 12, you get what, $30 and change, $33 maybe? I'm not doing the

0:59.8

exact math. I don't have a calculator in front of me. So you're going to set aside $33 more than you are doing

1:06.8

now each month. Okay? The idea being that you won't feel the $33 and my guess is you wouldn't.

1:15.0

Now if you're making $100 grand, you'll set aside an extra $1,000 per year.

1:19.8

Divided by 12, I have no idea what that is. 800, let's see 80,

1:25.0

80, maybe, around 80?

1:28.0

Yeah, 850.

1:30.0

No, 85.

1:31.0

This is the best part of the podcast, right?

1:33.0

Do mental math out loud and correct myself constantly.

1:35.6

I'm talking about undetected savings.

1:38.6

Bump up the percentage and see if you just don't feel anything.

1:43.0

Just give it a shot.

...

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