You Need Frugality?

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

4.7 • 1.1K Ratings

🗓️ 12 August 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Frugality is a virtue. At least, that's what many people in the financial space would claim. Being frugal is commonly seen as a good thing, presumably because it enables you to save more money. The environmentally conscious might see value in frugality as a means to reducing overall consumption. YNAB, one could argue, aims to make you more frugal. But YNAB is more interested in a deeper question: why be more frugal?

The first habit in the YNAB method is to give every dollar a job. To do so, you have to know what it is you want your money to do for you, where you are aiming at. Saving money is a great thing, but YNAB encourages you to ask the question: for what?

Being frugal is not an answer. It is merely the means by which you get to the answer!

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Transcript

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0:00.0	Hello, whinetters, my name is Jesse Meekham with another episode of the
0:08.2	whinat podcast and I am here each week to obsess out loud about spending purposefully, saving aspirationally, and even giving
0:15.2	joyfully.
0:16.2	It all comes down to just these four simple rules.
0:21.0	Today I want to talk about freeality. It's an interesting one. We were discussing it at length internally and I thought I would just muse out loud.
0:30.0	It's an interesting one because there's a history of frugality as something quite noble, something
0:37.8	like morally good.
0:40.1	I remember, I think my dad may be saying waste not want want not that's a good one another one was
0:47.8	Make it do know wear it out make it do
0:50.8	How has that oh shoot I'm gonna I should have pulled it up before I hit record.
0:56.6	Wear it out, make it do, make it do or do without.
1:00.6	Anyway, Google it based on those cryptic phrases that I gave you. The idea that you use it up, wear it out, make it do or do without.
1:11.0	There it is, use it up, wear it out, make it do, or do without. There it is, use it up, wear it out, make it do or do without. This has this
1:16.7	vibe of this almost a heuristic kind of hey, I mean it rhymes, it has rhythm to it, of
1:22.3	course it's true I like that phrase for all kinds of reasons
1:27.0	I like it for environmental reasons I like it for monetary reasons but there's another
1:32.3	reason where we often like these those types of things
1:35.9	and it's this kind of this moral should reason and frugality I think it's captured in that
1:42.0	nicely and as And as is the case with the wine-at-pond
1:44.1	as is the case with the Wine-Nab podcast
1:47.8	I am here to get you to think,
1:50.8	not get you to think the way I think.
	...

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