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The Jesse Mecham Show

Scratching the Gambling... Er, "Investing" Itch

The Jesse Mecham Show

YNAB

Kids & Family, Education

4.71.1K Ratings

🗓️ 10 February 2020

⏱️ 6 minutes

🧾️ Download transcript

Summary

Jesse admits he's got an itch to scratch. He likes to invest gamble in the stock market from time to time, using an app that allows him to trade at the swipe of a finger.

 

At least he's honest -- it's gambling with fun money, not investing. And that's the key. It's money he can afford to lose, and it's not much.

 

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

 

Also, go to https://www.youneedabudget.com/bootcamp/ to sign up for the YNAB Debt Bootcamp!

Transcript

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0:00.0

Hello, Wineabbers. My name is Jesse Meekham, this is podcast number 415 for

0:08.8

Wineab, where we teach you four rules to help you stop leaving paycheck to pay check, get out of debt and save more money.

0:14.9

When you save more money, occasionally you won't occasionally, but you will definitely

0:20.0

have more money and then you will invest that money and this is a bit of a

0:24.1

public service announcement for those people that are investing as I

0:27.3

record this we're hitting record highs in the stock market and at that point with record lows I have no problem buying it's the record

0:36.0

highs where I start to kind of struggle still buying but you just stick to the plan

0:40.4

by by by by by being it for the long haul but my PSA is not related to that it's related to the following

0:48.0

i have a confession to make actually i use an app that helps me that allows me to trade stocks on my phone with the

0:56.5

swipe of my thumb like a fancy pants person and it's very fun and the UI is done very well.

1:05.0

So I put some money in there probably four years ago

1:08.5

and I did this because it allows me to scratch my gambling inch. Now you might say well Jesse you

1:15.5

mean to say to scratch your investing edge but I do not mean to say that I mean to

1:20.1

say to scratch my gambling inch I do this purely because I have this desire to, you know, mess around

1:29.1

for lack of a better word, but there is no better word. really is that it's not sound investing I

1:34.3

don't know anything else I don't know more than the next guy I don't have I'm not

1:38.0

privileged to certain information I don't know I'm not good at it but I started by trading Tesla stock because you

1:47.2

guys know I like Tesla and it was super volatile so that was kind of

1:50.1

entertaining and then as I would read in the news I would just be like

1:52.6

oh I should buy a little bit of that stock a little bit of this stock and

1:54.6

sometimes very little like not doesn't move the needle at all but here is the

1:59.9

warning I actually like the idea of people if they feel so inclined to pick stocks and waste their money.

...

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