Rule Two Reviewed
The Jesse Mecham Show
YNAB
4.7 • 1.1K Ratings
🗓️ 15 May 2023
⏱️ 8 minutes
🧾️ Download transcript
Summary
It's back to basics time! Rule Two in the YNAB method is "embrace your future expenses." In short, think about the things you will have to buy or pay for in the future, and act on them NOW. Car going to need new tires in six months? Don't wait till they need replacing to budget for them, start budgeting now! Save a portion of the replacement cost each month until you've reached the replacement cost for those tires.
Really Rule Two is Rule One again, give every dollar a job. You're giving your dollars jobs today, to pay for expenses tomorrow.
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Transcript
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| 0:00.0 | A little wine average, my name is Jesse Meekam with another episode of the Wine At Podcast |
| 0:08.8 | where we teach you four rules to help you stop if you paycheck to paycheck, get out |
| 0:11.7 | of debt and save more money. |
| 0:13.7 | What we're talking about is you doing a little better with your money and we're reviewing |
| 0:19.1 | the method. |
| 0:20.3 | So for those of you that have been around for this podcast for a better part of a decade, |
| 0:26.6 | let's do this. |
| 0:27.6 | Let's review. |
| 0:28.6 | It's important. |
| 0:29.8 | You know when my shots are being hit a little thin or fat or right or left, never |
| 0:33.4 | center, never flush on the golf course, I just go back to the basics, relax, easy swing, |
| 0:41.2 | that kind of thing. |
| 0:42.2 | That's what we're doing with the next few episodes, so let's all relax, but feel a little |
| 0:46.8 | bit of excitement because we are talking about the method and it works. |
| 0:50.4 | We talked about rule one, being you are money lining up with what you really care about, |
| 0:55.4 | how you want to your life, how you want your life to unfold and how money essentially |
| 1:00.8 | does a lot of the unfolding. |
| 1:02.5 | You spend a lot of time working for it, earning it, let's put some intention and some |
| 1:08.4 | earnestness behind the money and make sure that it's actually doing what you'd like. |
| 1:13.6 | In order to do this well though and recognizing that scarcity, the idea that money is finite, |
| 1:20.8 | we all know it yet, we behave so different from that understanding, anyway. |
| 1:27.7 | We have to recognize, and this is where rule two comes in, embracing your true expenses, |
... |
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