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The YNAB Podcast

Stop Budgeting Dollars You Don't Have

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

🗓️ 3 April 2025

⏱️ 6 minutes

🧾️ Download transcript

Summary

YNAB only asks that you follow one rule with your money, the golden rule of money, if you will -- give every dollar a job. And within that statement is implied that you must give every dollar you have a job. Many people get in trouble when they start planning for money they expect to come but don't have yet. There be dragons!

 

Looking at the money you have right now, and asking yourself "what does this money need to do between now and when I get paid again?" focused you on reality, and avoids asking too many what-if questions about the future and various contingencies. And it's simple. No forecasting, no elaborate scenarios. Just concrete dollars in your wallet (or bank account) right now and present needs and wants.

 

Simplicity is underrated. Following this simple rule over and over, multiple times a month, maybe multiple times a week, will grow your financial confidence, your decision making skills, and your bank account!

 

 

Watch The Jesse Mecham Show on Youtube:

https://www.youtube.com/@jessemechamshow

 

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

 

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Tickets to YNAB Fan Fest 2025 are on sale now! Coming to San Diego, Minneapolis, and NYC:

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Transcript

Click on a timestamp to play from that location

0:00.0

Hello, my name is Jesse Meekam with another episode of the Jesse Meekam show, and I am here each week to obsess out loud about spending purposefully, saving aspirationally,

0:21.7

and giving joyfully.

0:23.4

It all comes down every time to just giving every dollar a job.

0:27.4

And those dollars to whom you are giving jobs must, must be currently in your possession.

0:35.7

You sabotage yourself when you're starting to do the best of things, which is saying, I want

0:41.2

a plan.

0:41.8

I want my money to start doing what I want it to do.

0:44.6

And so I'm going to set up a plan and get going on it.

0:48.3

And then what you do is it's out of the gate.

0:50.6

You sabotage yourself by saying, okay, how much am I paid?

0:55.7

What's my, what's my salary?

1:03.1

What's my biweekly paycheck? Whatever it is. And you immediately begin planning with money that will come,

1:13.9

hopefully, right, but is not yet in your possession. Spentfulness is the complete eradication of all second guessing as it relates to your spending and you achieve this spendfulness you eliminate that second guessing by feeling well by experiencing

1:22.5

clarity when we are seeking clarity we need to remove as many variables as possible.

1:30.2

And so one that we remove right out of the gate, and we never let it come back again,

1:34.5

is this idea of planning with money you don't have.

1:38.1

So question one that we teach, whether you're making 300 grand a year or 30 grand a year, we teach you this.

1:46.3

What does this money need to do before I'm paid again? And this money must be, must be the

1:52.4

money you have currently in your possession. Now, many of you will say, well, Jesse, I'm going to get

1:56.8

paid tomorrow. I'm going to get paid on Friday. It's like, okay, then we'll do that

2:00.8

exercise again. But we are seeking clarity. And when we're seeking clarity, we want to remove

2:06.6

variables. One of those variables is that future income, bonus, this reimbursement's going to happen.

...

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