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The Jesse Mecham Show

Rule One and DIY FTW

The Jesse Mecham Show

YNAB

Kids & Family, Education

4.71.1K Ratings

🗓️ 27 February 2023

⏱️ 4 minutes

🧾️ Download transcript

Summary

Jesse analyzes a recent situation in which he was planning to build something in his wood shop, when a friend remarked that he could buy the same thing a lot cheaper. While we talk about money all the time in YNAB, and frequently equate money with time, and discuss the tradeoffs of buying this thing versus that thing -- Jesse reminds us that we don't have to think of everything in terms of economic decisions. Sometimes you give dollars a job (Rule One) which is for sheer enjoyment.

 

Got a question for Jesse? Send him an email:

askjesse@ynab.com

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com

Transcript

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0:00.0

Hello, whenever's my name is Jesse Meekam with another episode of the YNAB podcast, where

0:09.0

we teach you four rules to help you stop even paycheck to paycheck.

0:12.2

Get out of debt and save more money.

0:14.6

Maybe even develop a new relationship with money or maybe realize, look a little deeper

0:20.2

and see if there aren't things where money can't buy it, that kind of a thing.

0:27.7

The other day, I was thinking about making a little something and someone told me, you

0:32.4

know, in the shop building something amateurish out of wood and someone said, hey, you know,

0:40.5

you could buy that for a lot cheaper and you would save tons of time.

0:46.9

And I didn't know what to say.

0:51.0

I was so shocked that this person thought that I thought if I handmade something in my shop

1:05.3

where I've invested way more than it makes sense to, given my skill level, that I would

1:11.3

somehow be saving money.

1:15.2

I was speechless and as you all know, it's hard to give me to that spot, speechless.

1:22.2

But sometimes we and this person in a moment and I in my moment always, everyone has these

1:27.8

moments, you're just kind of looking at something through the lens of just the dollars.

1:32.1

And when we're doing rule one, when you're thinking through your priorities, you're asking

1:36.8

yourself regularly, what does this money, money, money, money need to do before I'm paid

1:42.0

again, paid again by more money, money, money.

1:44.9

So we're thinking money, always, money, money.

1:47.3

We're always using, you know, like money and then time as the denominator or maybe time

1:52.7

and then money as the denominator, but it's always those two resources, those two finite

1:57.0

resources that we exchange with on a regular basis.

...

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