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The YNAB Podcast

The Utility (or Not) of the Month

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

🗓️ 15 July 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

We organize our lives by the calendar, and the calendar is organized into months. It's no surprise then, that we tend to think of finances in terms of months -- monthly payments, monthly contributions, having 3-6 months of expenses saved. The month has a lot of utility, but it is an arbitrary division of time. Jesse examines how the month can be useful, yet also detrimental, to making money decisions.

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Transcript

Click on a timestamp to play from that location

0:00.0

Hello, whinabbers. My name is Jesse Meekham with another episode of the

0:07.8

whinab podcast and I'm here each week to obsess out loud about spending

0:11.2

purposefully, saving aspirationally, and even giving joyfully.

0:15.0

It all comes down to just these four rules.

0:18.0

These four ways of thinking about your money, that precious resource of self basically I'm working through my list not of

0:27.4

asked Jesse but topic ideas given to me from the WineAP team.

0:32.8

And Sophia mentioned something along the lines of let me see here.

0:36.4

She says it's pointless to try to manage your spending

0:38.9

by trying to make sure that you spent less this month than last month.

0:42.1

And that is absolutely 100% true.

0:45.2

The month is a useful framework.

0:47.3

The month, it's just, it's a tidy division of time.

0:51.4

Yeah, it just lets us do bills, you know, pay them on the first rent, monthly.

0:56.7

It's nice.

0:57.7

It's good.

0:58.7

It's useful.

0:59.6

But at times it can trip us up and we have these interesting little games we play where

1:06.0

suddenly the month means more than it actually should mean.

1:09.7

And when you're doing the thing where you're saying well this month will be better than last

1:13.2

that's one of those times there is no such thing as a normal month there's no such thing as a

1:18.0

normal week it's just life and while the month is useful for structuring kind of the administration of one's money,

1:28.0

it is not useful for the decision-making.

...

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