What If Being Good At Money Is Just Skill Acquisition?
The YNAB Podcast
YNAB
4.7 • 1.1K Ratings
🗓️ 25 November 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
It's common parlance to say someone is "good with money," but it's often said in a way that suggests some people are innately gifted with money management skills. Jesse punches back at this supposition. He argues that becoming good with money is a skill, and skills are acquired through habit -- stringing together a lot of days with good money decisions until the good decisions become second nature.
You don't have to be perfect either! Jesse cites his favorite definition of intelligence, which is error correction, i.e. someone who makes an error, realizes the error, and then fixes it, demonstrates intelligence. It turns out, error correction is built into YNAB's four habits: rolling with the punches is the process of reacting to new circumstances by reallocating money as needed. Then, in the future you can plan for those new circumstances by embracing them as part of your true expenses (habit #2).
Next time you catch yourself thinking "I'm not good with money," focus on making one good decision, then another the next day, then correcting your errors... until it becomes another skill you have acquired!
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Transcript
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| 0:00.0 | Hello, Wynabers, tickets for the first event in our 2025 Wynab Fan Fest tour go on sale today. |
| 0:08.3 | Sometimes you need to be around people who just get it. |
| 0:11.1 | You can't just have me in your ears all the time. |
| 0:13.1 | You got to get out there and meet the people, right? |
| 0:16.0 | That's what this fan fest is all about. |
| 0:17.9 | We're heading to three cities across the country next year. |
| 0:26.4 | These are all-day events with keynotes, live Q&A, panel discussions, food, merch. |
| 0:29.9 | I don't know exactly what merch, but great merch. |
| 0:35.1 | Wineab personalities like myself and the other ones, the good ones, and so, so much more. |
| 0:36.9 | I've already blocked it off on my calendar. |
| 0:38.3 | I'm going to hit all of these. |
| 0:45.7 | Visit winab.com slash events today to buy your tickets to the San Diego fan fest out there in beautiful California. The tickets for Minneapolis and New York City will go on sale soon. |
| 0:51.9 | So sign up at the same link for notifications. |
| 0:55.5 | That's whinab.com slash events to get your tickets to San Diego or and or to sign up for |
| 1:01.6 | notifications to the Minneapolis and New York City events also. |
| 1:06.9 | Whynab.com slash events. |
| 1:09.1 | I cannot wait to see you there hello winehabers my name is jesse meekam with another |
| 1:20.6 | episode of the wineab podcast and i'm here each week to obsess out loud about spending purposefully |
| 1:24.9 | saving aspirationally and giving joyfully. It all comes down to |
| 1:30.0 | just four simple habits. I felt like I kind of tripped over that word purposefully today. Maybe we do |
| 1:35.4 | trip over that sometimes, you know, being purposeful. That's hard. It's hard when you're tired to be |
| 1:41.4 | perfect. Oh, wow, maybe I'm tired. It's hard when you're tired to be purposeful. It's hard when you're tired to be perfect. Oh, wow, maybe I'm tired. |
... |
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