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The YNAB Podcast

Special 02: Interview with Carl Richards - Goals & Guessing

The YNAB Podcast

YNAB

Consolidation, Total, Budget, Dave, Peace, Money, A, Education, Ynab, Finance, Bankruptcy, Makeover, Fpu, Software, Management, Personal, Need, Ramsey, Financial, University, Debt, Kids & Family, You

4.71.1K Ratings

🗓️ 31 March 2015

⏱️ 14 minutes

🧾️ Download transcript

Summary

How do you view financial goals? What if you saw them more as guesses?

Transcript

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0:00.0

Hello, whinabbers. My name is Jesse Meekham and this is another special podcast for You Need a Budget,

0:14.6

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

0:18.7

save more money.

0:20.6

In this second part of a three-part series of my interview with Carl Richards,

0:25.0

author of the one-page financial plan that's coming out or perhaps already is out,

0:30.0

we talk about goals and guessing and I love it. There's a lot that has to do with

0:37.8

Rule 3 in there and I think you really like it so I will turn the time back over to

0:41.7

me and Carl as we discuss goals and guessing.

0:46.0

Okay so let's say that our listener has paused and they were just going to say okay I've got my

0:52.4

Y they've peeled back that onion multiple layers. paused and they were just going to say, okay, I've got my why.

0:52.8

They've peeled back that onion multiple layers,

0:55.4

and they now say it's to travel.

0:58.0

Like, I really want to expose my kids to all the far corners of the world. So with that as their why, then you walk them

1:07.1

into goals, but what I really liked and latched onto was the idea of guessing what your goals are.

1:13.2

So kind of elaborate on that.

1:14.4

Yeah, well, I found that so I mean, going through the process

1:18.6

of establishing sort of your values will inevitably lead to discussions about goals, right?

1:25.4

So if you've decided, hey, traveling is the most important thing, well, then it's pretty easy

1:28.8

to say, okay, well, then what does that mean, right?

1:30.7

So the values are sort of these broad brush statements, and then goals become the more specific things on how do we actually realize those values.

1:39.2

The dilemma, since we get to goals, is everybody gets so nervous nervous and it's mainly because they've been trained by the traditional financial services industry that we've got to get really specific.

1:49.0

There's this false sense of precision.

...

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