![]() Leaving money unallocated is a fast way to derail a budget. Any remaining money should be placed in a savings or retirement account. For example, add up monthly expenses and subtract the total from your monthly income. The concept behind zero-based budgeting is making sure every dollar has been allocated each month. So, how do people who need a budget stay on one? Here are a few tips from our experts on how to stick to a budget. Approximately 80% of those who made a budget did not follow it, resulting in an average of $7,400 in overspending per year. The problem comes when people try to stay on a budget. It's not all business books this time! Topics range from leadership to the history of money to science fiction.Making a budget isn’t difficult in fact, 80% of Americans say they have one. Jesse shares a few book titles he has been working through lately, and how the lessons from Jocko's Exteme Ownership have been working their way through the Mecham household and YNAB. Got a question for Jesse? Send him an 48 min Consequently, he reminds us, don't count on those forgiveness funds until they actually hit your bank account!įollow Ben the Dollar Scholar on you YNAB is FREE for college students? Sign up here: Ben walks through the recently announced student loan forgiveness program, how much debt can be forgiven for students or graduates with Pell grants and with traditional Federal student loans, and some of the forthcoming changes to income-based repayment plans.īen also reminds us that not all the details of the plan have been worked out yet, and there are still open questions regarding the legality of the program, as well as potential income tax implications at the state level. Jesse chats with Ben, a YNAB employee and "The Dollar Scholar" on TikTok, where he educates college students and grads on the intricacies of student loans. Got a question for Jesse? Send him an 41 min Jeremy has a FREE 60-minute investing basics course as well as some fun and useful web tools to understand how investments can grow over time, the futility of trying to time the market, and more.įor YNAB listeners, you can save $20 off the full Learn to Invest course using the discount code "YNAB" when you checkout. He recommends using YNAB to help with the spending less money part, then teaches the rest in his Personal Finance Club. To build wealth you need to spend less, save more, and then invest using a simple, reliable strategy, such as investing in broad market index funds. Jeremy's pretty clear that there's no magic to good investment strategy. When the pandemic hit, he needed something to fill his time, so he decided to build a resource for other people to learn the fundamentals of investing and how to build their own nest egg. Jeremy then spent two years playing video games, traveling, coaching beach volleyball, and learning about what to do with all of his money. Jeremy built the successful internet startup RentLinx, sold the company in 2015, and retired a couple years after at the age of 36. Jesse invites entrepreneur and avid YNAB'er Jeremy Schneider on to the show to help de-mystify investing for YNAB'ers looking to get started. You can follow Christopher on Instagram: a question for Jesse? Send him an up for a free 34-day trial of YNAB at And, because he uses YNAB and reconciles daily, he pays his cards off monthly and never carries a balance! ![]() Christopher also enjoys travel, and has learned how to "travel hack" his way through many trips using credit cards rewards. Using YNAB, Christopher has been able to achieve many notable financial goals - paying off his student loans and becoming debt-free while living in notoriously expensive Manhattan, purchasing a motorcycle he had wanted since he was a kid, and helping others improve their financial wellbeing through personal coaching and social media. Looking to build on the budgeting habits instilled by his mom, Christopher began using YNAB 4 in 2014, and fell in love with both the simplicity of the method and the precision of the software. ![]() She led by example, too, always setting aside money for Christmas and birthdays, for emergencies or unexpected expenses, on a middle class income. Christopher learned the value of budgeting from an early age, when his mother taught him and his siblings how to put aside money for things they wanted. ![]() In today's installment of Money Stories, Jesse talks with YNAB Ambassador Christopher Campbell, a 33-year old marketing director living in Portland, ME.
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