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The Jesse Mecham Show

Rule Three Reviewed

The Jesse Mecham Show

YNAB

Kids & Family, Education

4.71.1K Ratings

🗓️ 22 May 2023

⏱️ 6 minutes

🧾️ Download transcript

Summary

Be like the reed... blowing in the wind. It's not a haiku, Jesse is talking about Rule Three -- rolling with the punches. Life happens, and unexpected things are going to pop up that could break the budget. When you roll with the punches however, you check the budget, find the money for the unexpected expense in another category, and fund the expense by moving money from that category.

 

The key here is that you check the budget and find the money first! You don't simply spend the money and try to figure it out later.

 

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Transcript

Click on a timestamp to play from that location

0:00.0

Hello Wine Embers, my name is Jesse Meakum with another episode of The Wine Em Podcast

0:09.2

where we teach you four rules to help you stop a paycheck, get out of the debt, and save

0:13.2

more money.

0:14.2

The key to all of this is to maintain absolute and total flexibility, a rebending in

0:20.8

the wind.

0:22.4

That's the third rule.

0:23.4

We call it rolling with the punches.

0:24.8

You move your face in the same direction as your opponent's blow in boxing or mixed

0:30.9

martial arts so that you lessen the impact versus, I don't know, throwing your head long

0:38.5

into it and really getting things jared, so to speak.

0:45.6

In money management, in this little experiment you're doing called budgeting, lining up

0:51.8

your money with your priorities, now we're thinking long and acting now under the guidance

0:58.2

of rule two, but it is so important that you maintain your flexibility, and that is

1:04.4

rule three.

1:05.4

You roll.

1:06.4

Just roll with it.

1:07.4

Now, it doesn't mean you roll over if every little thing that happens and you just say,

1:12.8

oh, I'll just move money.

1:13.8

I'll just move money.

1:14.8

I'll just move money.

1:15.8

And you're never actually reaching your goals.

1:16.8

There needs to be some constraint.

...

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