Building Habits: Four of Them, Actually
The Jesse Mecham Show
YNAB
4.7 • 1.1K Ratings
🗓️ 6 November 2023
⏱️ 5 minutes
🧾️ Download transcript
Summary
At YNAB they're called the Four Rules, but as Jesse argues, maybe they are best described as habits! The four habits of budgeting...
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Transcript
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| 0:00.0 | Hello, Wineabbers. My name is Jesse Meekham with another episode of the |
| 0:08.2 | Wineab Podcast where we teach you four rules to help you spend, save, and give joyfully without guilt or second guessing. |
| 0:16.0 | What we're really talking about, and I've been kind of kicking this around a little bit, |
| 0:21.0 | is, uh, I think it, the rules rules are just we've talked about this we've talked about how they're just decision frame it's a decision framework it's there just ways to improve your decision making and specifically how you spend and we've talked about how |
| 0:35.2 | all spending is spending there's no such thing as saving you're just you know a friend of mine |
| 0:40.2 | said you're just you know he saved for retirement and retired kind of early and |
| 0:44.8 | people are like well what are you going to use the money for and he's like I already |
| 0:47.4 | did I bought my freedom you know so just sits there continually purchasing |
| 0:51.0 | his freedom so that could be one way that savings |
| 0:55.5 | are really just spending. |
| 0:57.8 | Other people sometimes say, oh, well, I spent it on stocks, |
| 1:02.0 | I spent it on retirement things like that that works also |
| 1:06.0 | What we what I want to talk about today though if if you've got the four rules that are really about |
| 1:15.8 | Improving your spending decisions. Rule one is introducing scarcity or trade-offs so that the trade-offs can that feeling of |
| 1:21.9 | trade-offs is what will improve your decision-making. |
| 1:25.0 | And then rule two, embracing your true expenses is really just future orienting |
| 1:30.0 | so that your decision-making improves. |
| 1:32.0 | And then rule three, rolling with the punches, |
| 1:34.2 | is just flexibility. |
| 1:36.2 | It's, you know, if you allow in your decision making |
| 1:39.2 | to be more flexible, you will make better decisions. You're not not you're not set in stone you're not |
| 1:45.1 | required to be clairvoyant you're not required to get that magic gate ball |
... |
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