EP06 Money Stories: How YNAB Saved Erika from Drowning In Debt

The Jesse Mecham Show

YNAB

Kids & Family, Education

4.7 • 1.1K Ratings

🗓️ 19 April 2021

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In today's money story, Jesse chats with Erika, a 32 year old married woman who found herself struggling in the deep end of credit card debt. Until YNAB, Erika always managed her money with her bank statements -- if there was enough for her current outflows, good! There wasn't much of a plan or cushion for surprises, however.

Shortly after getting married Erika began to feel trapped in her debt payments, which had become burdensome due to the credit card debt she and her husband had racked up for their wedding. After some close calls where she questioned their ability to even pay the rent, Erika discovered YNAB and began to make changes.

While she and her husband are still climbing out of the hole, they've made a big dent in their debt load and have created a solid plan for aging their money, acknowledging their true expenses, and rolling with the punches.

Transcript

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0:00.0	Hello WineAppers, my name is Jesse Meak and this is podcast number 485 for WineApp where
0:17.4	we teach you four rules to help you stop with an paycheck to paycheck, get out of debt
0:20.8	and save more money.
0:21.8	Today, I bring to you another money story.
0:24.8	This is Erica.
0:25.8	We found WineApp just a little bit ago and basically did it exactly as you're supposed
0:30.6	to.
0:31.6	She leveraged all of the resources that we offer.
0:33.5	She jumped into the workshops.
0:34.9	She took them several times.
0:37.1	What really, really did the click for her was budgeting only money you have on hand.
0:42.7	No more forecasting.
0:44.2	So, she found WineApp because an instructor in a financial independence kind of empowerment
0:50.2	class recommended it and Erica has not looked back.
0:53.8	They don't use credit cards anymore.
0:55.2	It's their choice.
0:56.2	They're staying far away from those.
0:57.4	They've been able to cash flow.
0:59.1	Big expenses like an $1800 car repair.
1:01.5	Not fun, but when you can do it with cash, my workout changes things.
1:05.2	So, without further ado, here is Erica's money story.
1:13.5	Erica, welcome to the podcast.
	...

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