Jesse answers a question from a listener who argues that becuase he carries enough cash to cover his credit card spending at all times, he is not riding the float and therefore is gaming the credit card companies. Jesse quotes Charlie Munger -- "show me the incentive, and I'll show you the outcome" (he actually said outcome not behavior) -- and observes that financial institutions have big incentives to encourage more spending, because spending increases their fees. So where there's an incentive, there's a behavior they want to encourage, and using credit cards is it. In Jesse's experience, ditching the credit card has made him less likely to impulse spend, and that experience is likely what financial institutions have figured out!

Got a question for Jesse? Send him an email:

askjesse@ynab.com

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Jesse argues that the common refrain of a thing having "inherent value" or "intrinsic value" is not actually a thing. As Jesse explains, value is a moving target, constantly shifting along with our desires and material circumstances. To a starving man, food is worth more than gold. To that same man well-fed, it can be worth little. We see this with our own money -- as our circumstances change, the categories we prioritze shift. Rule 3, roll with the punches, acknowledges the ever-shifting nature of our needs and desires, and challenges us to make trade-offs to materialize those changes in our financial plans. To that end, nothing has an inherent value, but rather a variable value, the only certainty being that it will fluctuate over time.

Beginning Balance Podcast -- the show Jesse mentions has not aired yet, but will be coming soon! In the meantime, check out more of Jesse's musings about money here:

Apple: https://podcasts.apple.com/us/podcast/beginning-balance/id1569423517

Spotify: https://open.spotify.com/show/7APubdzXN2eeeMdNpCLkiy?si=19e8c25d5b104494

Got a question for Jesse? Send him an email:

askjesse@ynab.com

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Jesse is back answering another round of questions from his inbox. Today he responds to listeners asking whether the Four Rules are really rules or rather habits, what his favorite time management tools are, and how to relate to a spouse uninterested in budgeting.

Getting Things Done: The Art of Stress-Free Productivity

https://www.amazon.com/Getting-Things-Done-Stress-Free-Productivity/dp/0142000280

Four Thousand Weeks: Time Management for Mortals

https://www.amazon.com/Four-Thousand-Weeks-Management-Mortals/dp/0374159122

Got a question for Jesse? Send him an email:

askjesse@ynab.com

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Jesse shares a story from a YNAB'er who had a major mindset shift about money. For this person, money went from a stressful topic to envisioning it as "young creatures just looking to party." Imagining your dollars as little "you's," searching for ways to improve your life and live out your values takes away the fear and anxiety around money.

Got a question for Jesse? Send him an email:

askjesse@ynab.com

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