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The YNAB Podcast

There Is No Such Thing as Savings

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

🗓️ 19 June 2025

⏱️ 8 minutes

🧾️ Download transcript

Summary

It seems obvious that you should save money. It's the right thing to do, after all! But even the words that we use talk about saving money have problems -- should, ought --  loaded with moral baggage. Jesse reminds us that even money earmarked for savings is still spending, just spending that has been deferred to a later date, retirement for example. That money still needs to have a job, however. Saving for what in retirement? Utility bills? Travel? Presents for the grandkids?

 

Money for the future has a job just like money for the present, and when you view money through the lens of giving every dollar a job, you begin to see that money is only meant to be spent. There is no savings, only spending! 

 

Watch The Jesse Mecham Show on YouTube:

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

 

Got a question for Jesse? Send him an email:

[email protected]

 

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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'm here each week to obsess out loud about spending purposefully, saving aspirationally,

0:21.0

and giving joyfully. It all comes down to just giving every dollar job. And I'll be honest,

0:26.0

the intro of this show where we talk about spending purposefully and saving aspirationally,

0:31.8

as if they're different things. I want to address that. Now, I did an episode a little while ago

0:37.3

where I talked about deleting your emergency

0:38.8

fund and people were either confused or they disagreed with me.

0:44.4

And I think they disagreed with me because they were confused.

0:46.8

I was not saying that you don't have money set aside for emergent things.

0:51.3

I was only saying that money, when given a name, a purpose, a job, it feels better

0:58.0

when you spend it that way and you get more clarity when you label it that way. And that is true

1:03.7

for all savings. So in, let me just tell you this. My parents retired a little while ago.

1:11.2

And I remember for years, my dad gave me like money books when I was growing up.

1:15.9

Like I've been schooled in that, you know, millionaire next door.

1:21.4

Honestly, I know on our other channel, we talked about rich dad, poor dad, and Ben kind of gave it a little bit of a squeeze on the critique.

1:30.2

And I, you know, for a 14 year old or whatever i was i remember getting something out of the story um so i took to

1:36.4

all kinds of books like that the little book of common sense investing and all these books that

1:41.1

talked about um what you're supposed to do with your money. And I remember sitting

1:45.2

around the dinner table and my dad would mention things like retirement and IRAs and Roth IRAs

1:51.7

that came out later. And I was, I would listen. And he was always talking about how he and mom were

1:56.9

saving up their money for retirement. Well, you fast forward 40 years or whatever, and they're living the good life and they've retired.

2:04.5

And what I remember hearing was just how this retirement money always had this special label.

2:11.2

It's for retirement.

...

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