What's the Purpose of Your Money | YNAB Founder Jesse Mecham

TITLE: What's the Purpose of Your Money | YNAB Founder Jesse Mecham

Do you have trouble in your relationship with the money you earn?

On today’s episode of Potent, Steven is joined by personal finance expert and founder of YNAB, Jesse Mecham, to discuss the philosophy and principles of YNAB (You Need a Budget), an app designed to help users align their spending with their personal values and goals. Jesse shares his journey of using money intentionally and the benefits of giving every dollar a job and covers four key habits promoted by YNAB: assigning every dollar a job, embracing true expenses, rolling with the punches, and aging one's money. 

About Today's Guest

Jesse Mecham is a personal finance expert and founder of YNAB, an app with a simple set of habits to help people change the way they think about money. Jesse hosts the top-rated financial podcast You Need A Budget (8 million downloads), as well as the business owners’ guide to managing cash flow, the Beginning Balance Podcast. He is the Wall Street Journal best-selling author of, You Need A Budget and is regularly quoted in the media as a money management expert – Forbes, New York Times, CNBC, and Business Insider have featured him – to name a few!

Jesse started YNAB in 2004, and back then, it was just a lil' bitty spreadsheet that helped him (a self-proclaimed cash-strapped, newly married college student) cover the cost of his textbooks without going into debt. Nearly two decades later, The TODAY Show described YNAB as a “cult-favorite,” and the YNABverse continues to expand – amassing passionate fan communities on every corner of the internet (that combined are larger than the population of Charleston). Every day they share stories of demolishing debt, paying for cars in cash, or quadrupling their net worth. 

YNAB the company is home to a fast-growing team living and working all around the world, and has built a thriving remote culture that earned recognition as Fortune’s #1 best small company to work for. (YNAB was doing remote work before it was cool!). 

When not teaching the YNAB Method – four habits to help people spend, save and give without guilt or second-guessing –Jesse loves gardening, woodworking, marksmanship, and travel. He also spends a good bit of time with his wife and their seven children – yes, seven! To learn more, visit www.ynab.com. 

Show Notes

0:00 Intro + Story and Philosophy of "You Need A Budget"

04:59 YNAB's Four Habits

14:06 First Steps to Giving Your Money A Job

19:33 Scarcity Is Clarity

26:53 Dealing with Debt: Pace and Prevention

31:46 Taking Inventory, Making Decisions

37:33 Rapid Fire Questions

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The Potent Podcast is produced and edited by Justin Sinclair, who also composed the theme music. Additional editing support and mixing by Aaron Feeney.

This podcast is brought to you by the Monk Manual. The monk manual is dedicated to providing best in class tools for helping you build a more potent life, and experience peaceful being and purposeful doing on a daily basis. If you’d like to be more intentional with your time and energy - please visit monkmanual.com