Episode 003 - The Power of Rule Two (Plus Rule One)

FromThe YNAB Podcast

Start listening View podcast show

Episode 003 - The Power of Rule Two (Plus Rule One)

FromThe YNAB Podcast

ratings:

Length:

16 minutes

Released:

Nov 7, 2011

Format:

Podcast episode

Description

The basics of Rule Two (Save for a Rainy Day), and then how you combine Rules One and Two to begin making VERY good financial decisions. This episode will answer the question you may have asked yourself, "I make enough. Why aren't I getting ahead?"

Released:

Nov 7, 2011

Format:

Podcast episode

Titles in the series (100)

A weekly dose of just the right medicine to help you get out of debt, save more money, and beat the paycheck to paycheck cycle.

Skip carousel

Episode 002 - Setting and Achieving Mini Financial Goals (Budgeting): Wait, I thought we were budgeting. What's all this talk about goals, mini-goals, and habits? Yeah, you're not budgeting. You're becoming an unbelievably effective goal setter/reacher. by The YNAB Podcast
14 min listen
006 - The Budget and Slow Suffocation: One of the more embarrassing moments of my teenage years taught me a great lesson about budgeting, breathing, and the crushing effects of five pounds. by The YNAB Podcast
17 min listen
028 - Are You a Budget Failure?: What does it mean to fail at budgeting? It, frankly, doesn't mean much of anything. by The YNAB Podcast
4 min listen
016 - The Double-Edged Sword of Automation: Automation is a two-edged sword. Used wisely, it will revolutionize your finances. Used poorly, it will do nothing for you (it may even hurt you, in a financial way). by The YNAB Podcast
9 min listen
022 - YNAB for Your Business?: Can YNAB serve your business just as well? Well, YNAB's serving YNAB well. by The YNAB Podcast
11 min listen
009 - Success Story: a Quicken Junkie Convert!: I interview Sheridan from Orange County, California. She's now been using YNAB for 2.5 years, and won't be going back to Quicken any time soon! by The YNAB Podcast
20 min listen
Episode 001 - Stop Living Paycheck to Paycheck: 70% of people live paycheck to paycheck, but did you know the interesting part of that statistic that isn't often quoted? It will surprise you, and perhaps spur you on to decide that $1000 is the new $0. Rule Four, "Stop Living Paycheck to... by The YNAB Podcast
11 min listen
011 - A New Year's Crash Course: Erin Lowell, YNAB's head of Education, jumps onto the program to introduce our new New Year's Crash Course. One more way to help you get this money thing done RIGHT. by The YNAB Podcast
13 min listen
Episode 003 - The Power of Rule Two (Plus Rule One): Creating blissful cash flow situations by The YNAB Podcast
16 min listen
Episode 004 - Lavish Spending (on Purpose): Lavish spending. Your budgeting indulgence. No judgement here, as long as it's purposeful and done with total awareness. by The YNAB Podcast
17 min listen
014 - Success Story: From Doing Fine to Awesome: A YNAB success story interview with Brian from Portland. We wax philosophical about present you, and future you (Rules One & Two), and Brian talks about his transition from Quicken. by The YNAB Podcast
24 min listen
020 - Success Story- Musicians Rock with YNAB: I talk with Mason (who created our podcast bump music) about how his finances are now rockin' with YNAB. by The YNAB Podcast
13 min listen
012 - An Interview with Carl Richards, Author of "The Behavior Gap": "Simple ways to stop doing dumb things with money" is the tagline of Carl's book, "The Behavior Gap". Stop doing dumb things when it comes to investing? I'll take one of those please! by The YNAB Podcast
29 min listen
013 - An Interview with Baker from ManVsDebt.com: Baker and his wife had an epiphany the night their daughter was born. With the answer to one simple question, they found freedom. This will get you thinking! by The YNAB Podcast
21 min listen
010 - YNAB Gets a New Site Design!: I discuss some of the whys behind our 12/2011 site redesign. by The YNAB Podcast
8 min listen
007 - Christmas, Weak Reports, the Best Report of All: A few words on Christmas, why January's so important to your Christmas spending, and weak reports. Also, a hat tip to the best report of all. by The YNAB Podcast
15 min listen
018 - Too Poor To Budget: Are you too poor to budget? Absolutely not! by The YNAB Podcast
5 min listen
019 - Halftime Adjustments: Five minutes trying to convince you that adjusting your budget is not only correct, it's a best practice. by The YNAB Podcast
6 min listen
021 - Your Budget Boiling Point: Your budget has a boiling point. Dial it back a few notches so you can stick to your budget for the long haul. by The YNAB Podcast
7 min listen
023 - Reality and Unleashing Your Will: If you're not operating in reality, you don't know what you want. If you don't knowo what you want, you won't get it. by The YNAB Podcast
12 min listen
005 - Success Story: a Cut in Salary, and Freelancing: An interview with Brian from Massachusetts, a freelance video editor, that now feels content--even with a large drop in income. by The YNAB Podcast
16 min listen
008 - 3 Tiny Habits, Big Takeaways: I relate my experience with BJ Fogg's 3 Tiny Habits program, and how that ties in so beautifully to budgeting--specifically staying on top of recording your transactions. by The YNAB Podcast
10 min listen
029 - So..Should You Start Over?: What's the harm in starting over? What are some good reasons to hit the 'reset' button, and when should you keep on truckin'? by The YNAB Podcast
4 min listen
017 - The Debt Snowflake: The debt snowball is tried and true, but what's the debt snowflake? It's more effective than it sounds :) by The YNAB Podcast
8 min listen
027 - What Does the Ideal Budget Look Like?: A rambling discussion of accounts, categories, cash, and just trying to do everything you can to simplify your budget process, while still deriving all of the benefit it provides. by The YNAB Podcast
10 min listen
024 - The Disaster Effect: When it rains, it pours, right? Sometimes that's our own doing (and demise). Financially speaking, of course. by The YNAB Podcast
9 min listen
037 - What IS YNAB Anyway?: In the wake of an eventful, learning-filled, stressful launch of YNAB 4…what IS YNAB? by The YNAB Podcast
7 min listen
025 - Success Story - Bible Study Group: This church out of Idaho has been using YNAB as part of their bible study groups -- for SIX YEARS. I have a long conversation with them about how it's helped them, what they'd like to see improved, and tacos. by The YNAB Podcast
30 min listen
042 - Interview with Dan Miller on Careers, Goals & Passion: I set out to have Dan talk about pursuing your passion, and it ended up turning a bit into my own personal coaching session! Dan Miller is a best-selling author, speaker, and career coach. We discuss careers, goals, passions, and more. by The YNAB Podcast
23 min listen
032 - How I Paid Off My Mortgage Before I Turned 30: Kind of hesitant to share this, because up until now I haven't made it public. But what the heck. The key for me paying my home off before I turned 30 was incessant focus, and long hair. by The YNAB Podcast
11 min listen

More Episodes from The YNAB Podcast

Skip carousel

Cheaper Milk and Eggs: Jesse fields a question from the YNAB team about how he stays positive in light of rapidly increasing grocery prices. Got a question for Jesse? Send him an email: Sign up for a free 34-day trial of YNAB at Follow YNAB on social... by The YNAB Podcast
9 min listen
Ask Jesse: Heady Books and Final Settlement, Among Other Things: Jesse answers another round of questions from his inbox, including a number of suggestions for new books to read! Got a question for Jesse? Send him an email: Sign up for a free 34-day trial of YNAB at Follow YNAB on... by The YNAB Podcast
15 min listen
It's Just No Way to Live: It's not uncommon for people to remark to Jesse that they wished they would have found YNAB sooner. The four habits are such a powerful tool for bringing clarity to your money and joy to your spending. Today Jesse wants to remind you that regretting... by The YNAB Podcast
5 min listen
What's the Alternative?: Jesse reviews the Four Rules and takes issue with those who say, "yeah must be nice to have extra money to make a plan with... everything I make is spoken for." It's true, there are some people who have a legitimate income problem. But this argument... by The YNAB Podcast
8 min listen
Your Biggest Single Expense: Your biggest single expense happens is one you probably don't think about much... unless you're American and it's April 15th. You may think it's housing, or maybe education, or raising kids, but all those costs are dwarfed by the elephant on your... by The YNAB Podcast
7 min listen
Let's Cut Spending!: Let's cut spending! And then... what exactly? The all too common advice that you need to "cut spending" implies that your level of consumption is simply too high. That may or may not be the case, but in Jesse's experience and the thousands upon... by The YNAB Podcast
6 min listen
Ask Jesse: Perfect YNAB, Tithing Confusion, and More Credit Card Comments: Jesse answers another round of questions from YNAB listeners. Today someone asks whether there is such a thing as "perfect YNAB" use and if good enough use is OK (yes!). Another YNAB'er is confused on how to calculate tithes for business income, and,... by The YNAB Podcast
12 min listen
Gaming the Credit Card System... Maybe: 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... by The YNAB Podcast
5 min listen
Inherent Value Doesn't Exist: 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... by The YNAB Podcast
7 min listen
Ask Jesse: Lavish Praise and Woodchip Gardening (Sort Of): 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... by The YNAB Podcast
16 min listen
Young Creatures Just Looking to Party: 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... by The YNAB Podcast
6 min listen
Looking In the Mirror: Mirror, mirror on the wall... which category is the truest of them all? Over the last several weeks, Jesse has explored the idea that money is more than just a tool, it's a reflection of you. Your spending is a representation of your energies and your... by The YNAB Podcast
8 min listen
Money Is Not a Tool: One of the pervasive messages about money is that "it's just a tool," and Jesse takes issue with that! When money is reduced to a mere tool, like a wrench or a screwdriver, it invites people to be more careless with it, to use it then put it in a... by The YNAB Podcast
6 min listen
Dire Straits, or Rolling In It, It's All the Same: Whether your bank account is looking bare and collecting dust, or flush with cash, the temptation is all the same: to run away from the money. The person in dire financial straits often wishes they had a bunch of money, because then they wouldn't have... by The YNAB Podcast
5 min listen
Ask Jesse: How to Plan with a Reluctant Partner, and Some Successes: Jesse opens his inbox for another for round of Ask Jesse, where he answers emails from YNAB'ers about all things money, finance, and... well, life! In today's episode, one listener asks about how to deal with a reluctant partner who doesn't want to... by The YNAB Podcast
9 min listen
A Sample of Interesting, Joyful Spending: Back in October 2023, Jesse asked listeners to look at their last ten transactions on YNAB and rank them on a scale from one to three, with one being spending that sucked joy from them and three being spending that sparked joy. Then he asked listeners... by The YNAB Podcast
6 min listen
YNABers Share Their New Years Resolutions: A few weeks ago, Jesse put out the call to share your New Years resolutions, as well as a guiding word for 2024 -- something to help you put your resolution into action day to day. Jesse received a number of great responses, and shares a sample of... by The YNAB Podcast
7 min listen
I Love Money: Jesse revisits his infamous experiment in which he essentially stopped budgeting for an entire year. The result from that experiment was that he and his family spent several thousand extra dollars that they couldn't account for, and even though the... by The YNAB Podcast
13 min listen
A Clarification on Goal Failures: Anytime the word resolution comes up, there are naysayers claiming that they don't work. That goals don't work. Unfortunately a lot of people buy into that when they set a goal and fail to achieve it. Their failure leads them to believe that settings... by The YNAB Podcast
7 min listen
Goals Are Awesome: As we embrace the New Year, Jesse challenges you to pick some goals and set some resolutions. Even if you fail, you will certainly learn some things in the process of chasing a goal, and that experience is invaluable! Tell Jesse about your... by The YNAB Podcast
8 min listen
Merry Christmas from YNAB: Jesse wishes everyone a Merry Christmas, full of meaning and joy. Hopefully this is a day you can enjoy without worrying about money, because you've dutifully saved up for it all year, but if not -- you can always start working on next year. After... by The YNAB Podcast
4 min listen
Invest In Preparedness, Not Prediction: Jesse ran across a quote from one of his favorite authors, Nassim Taleb. In his book , Taleb advises "invest in preparedness, not prediction," which also neatly describes the goal of YNAB. We cannot predict the future with any certainty, so it's folly... by The YNAB Podcast
10 min listen
A Quote from F.W. Boreham: Jesse ran across a quote from author F.W. Boreham the other day that resonated strongly: "We make our decisions, and then our decisions turn around and make us." Mr. Boreham described the goal of the Four Rules in one simple and effective sentence!... by The YNAB Podcast
7 min listen
Ask Jesse: Selling a Rental Property, Buying a Car, and Pausing Retirement to Save?: Jesse is back with another round of questions from his inbox, including whether or not a listener should sell her rental property, whether it's worth buying a new car to relieve the stress of sticking with an old car with problems, and if pausing... by The YNAB Podcast
14 min listen
Giving the Old Bird to Money: Jesse has been focusing on the joy of spending money lately, and one way to achieve joy is to simply give it away. In a sense, giving away money is the ultimate way to give money the bird, so to speak. It's an act of defiance, that you don't need it,... by The YNAB Podcast
4 min listen
It Has Nothing, and Everything, to Do with Spending: "You need to spend less money." "Money's not everything." But what if you don't need to spend less money. And what if money is everything? In today's episode Jesse offers up the idea that money is you -- the sum product of your energies and desires --... by The YNAB Podcast
8 min listen
You Didn't Quit. To Every Season...: Once again, the holidays are nearly upon us. If your spending plan hasn't gone to, well, plan then that is OK. Seasons are everywhere in life. We see them every year and we see them over periods of many years. Some seasons you're really engaged with... by The YNAB Podcast
5 min listen
Building Habits: Four of Them, Actually: At YNAB they're called the Four Rules, but as Jesse argues, maybe they are best described as habits! The four habits of budgeting... Got a question for Jesse? Send him an email: Sign up for a free 34-day trial of YNAB at Follow... by The YNAB Podcast
5 min listen
BONUS: Goodbye Mint, Hello YNAB: Breaking news! On November 2, 2023 Intuit announced that it would be shutting down Mint, a popular personal finance app it acquired back in 2009. In January 2024, millions of users will be left looking for a replacement budgeting app. Intuit is... by The YNAB Podcast
8 min listen
Joy Is a Three: Jesse invites you to play a game. Look at your last ten transactions and rate them 1 to 3: 1 = negative joy (sucked joy out of your life) 2 = neutral 3 = sparks joy There's one catch! You can only rate two of those transactions as neutral. Why?... by The YNAB Podcast
4 min listen

Related podcast episodes

Skip carousel

Episode 004 - Lavish Spending (on Purpose): Lavish spending. Your budgeting indulgence. No judgement here, as long as it's purposeful and done with total awareness. by The YNAB Podcast
17 min listen
Episode 002 - Setting and Achieving Mini Financial Goals (Budgeting): Wait, I thought we were budgeting. What's all this talk about goals, mini-goals, and habits? Yeah, you're not budgeting. You're becoming an unbelievably effective goal setter/reacher. by The YNAB Podcast
14 min listen
Episode 001 - Stop Living Paycheck to Paycheck: 70% of people live paycheck to paycheck, but did you know the interesting part of that statistic that isn't often quoted? It will surprise you, and perhaps spur you on to decide that $1000 is the new $0. Rule Four, "Stop Living Paycheck to... by The YNAB Podcast
11 min listen
005 - Success Story: a Cut in Salary, and Freelancing: An interview with Brian from Massachusetts, a freelance video editor, that now feels content--even with a large drop in income. by The YNAB Podcast
16 min listen
Ep 07 Debt Story: Meet Jennifer: She used to buy every gadget that crossed her path. Now, her cousin calls her “the Queen of Cheap.”—learn how Jennifer paid off all of her student loans and most of her credit card debt, and purchased her very first home in Chicago proper.... by The YNAB Podcast
13 min listen
10 Steps To Set Boundaries by Overnight Success
7 min listen
The 10X Rule: https://www.getflashnotes.com/10x-rule/ • EP248. The 10X Rule by Dean Bokhari's Meaningful Show
15 min listen
303 | Recluttering by The Minimalists Podcast
51 min listen
This Financial Life with Connor: This financial life episodes give us a chance to delve into a listener's personal finance life and to give them some advice to improve it. Today we have This Financial Life with Connor. by Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance.
45 min listen
#182 - Want a Great Retirement?: If you want a great retirement, you don’t need better answers, you need better questions. Pretty much everyone in financial advice and the media want us to stay with tactical questions like “How should I allocate my investment account?” “Are... by Retirement Answer Man
26 min listen
506. The Compounding Power of Achieving One Small Goal Per Day: In This Episode You Will Learn About: Doing things you don’t want to The compounding effect of small things How compound interest works Resources: Text “DAILY” to 310-421-0416 to receive a daily money mantra for free Show... by The Chris Harder Show
8 min listen
Couples Who Do This One Thing Repair From Conflicts Faster and More Effectively: Episode 277: As you now know from listening to this podcast, repairing conflicts is a critical skill to have a great relationship. BUT there is actually a key aspect of “conflict repair” that allows you to repair faster and more effectively. The opposite is... by EmPowered Couples with The Freemans
24 min listen
#171: The Opportunity Behind Our Sabbatical Not Going to Plan: You are meticulous about preparation. You make all the lists and plan all the details, but sometimes things happen that are outside of your control. It’s disorienting and confusing. What are you supposed to do then? How do you recover and keep... by Business Accelerator
32 min listen
Sales Pages: How to avoid procrastinating and fix three core elements- Part 1: When creating sales pages—or even when fixing them, you have a long list of elements to tackle. So many in fact, that you may just put off the fix for a few weeks, which ends up taking a few months. The reality is that you and I can't do it all at... by The Three Month Vacation Podcast
28 min listen
67. Get Out of Debt: Exactly How To Finally Get Debt-Free So You Can Stop Giving All Of Your Money Away by Financial Coaching for Women: How To Budget, Manage Money, Pay Off Debt, Save Money, Paycheck Plans
12 min listen
Season 2 E205 - STEP FOUR & FIVE - Managing Debt & Creating Savings by How to Buy a Home
120 min listen
53. How to stop being stuck and take action immediately by Financial Coaching for Women: How To Budget, Manage Money, Pay Off Debt, Save Money, Paycheck Plans
18 min listen
EP01: The Most Important Step To Take Control Of Your Body, Business and Life: Tired of never following through with the promises that you make to yourself? Well, it's time to address that. In this this episode we'll cover the question: "What are the securities and insecurities of being an entrepreneur?" by Vigor Life Podcast
9 min listen
#51: 4 Long-term Benefits of the Full Focus System by Focus on This
20 min listen
How To Teach Through Problem Based Lessons by Making Math Moments That Matter
44 min listen
E105: Applying The Fundamentals Now - Steven Pesavento: Want to make sure you protect your business even in a “bad” time? These are the three fundamental things to do RIGHT NOW to make sure you’re on track! by The Investor Mindset - Name Your Number Show [$]
12 min listen
333: How to Solve Problems Faster, with Greg Hall: Greg Hall: Fix Your System Greg Hall has 20 years experience as a Lean Six Sigma Black Belt and Director of Data Analytics for a Fortune 500 company. He coaches business owners and executives to capture personal data analytics to achieve goals and red... by Coaching for Leaders
38 min listen
Metrics That Actually Mean Something: Today's episode is Day 1 of our Profit Accelerator Challenge happening inside the Scale Your Small Business Facebook group. After years of coaching other entrepreneurs and nearly two decades of small business ownership, I've identified the 3 most... by Well-Oiled Operations with Stacy Tuschl
30 min listen
Most Common Places Business Owners Overspend: Today's episode is Day 2 of our Profit Accelerator Challenge happening inside the Scale Your Small Business Facebook group. After years of coaching other entrepreneurs and nearly two decades of small business ownership, I've identified the 3 most... by Well-Oiled Operations with Stacy Tuschl
30 min listen
E-commerce Decision Making How To Prioritize Decide Wisely: How do you make decisions wisely and profitably? - One of the most important things you can do in business is to get good at decision making. It may feel at times that all that matters is action. Certainly, action counts for a huge amount. by Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Woocommerce business owners, and other e-commerce sellers and digital entrepreneurs.
24 min listen
The Vacation Effect: Growing Your Business Even Faster By Working Less with Denise Gosnell and Joe Polish - Genius Network Episode #139: Who doesn’t want to make more while working less? Denise Gosnell, the creator of The Vacation Effect™ reveals how in today’s Genius Network episode. If you’d like access to the video, show notes or the exercise to help you take action on... by Genius Network
12 min listen
#085: Michael Answers Your Questions: Leaders are problem solvers, and that means coming up with the right answers. The problem is that you may have no one to go to with our own inquiries. It’s tough to be the one everybody’s looking to for solutions when you’ve got more questions... by Business Accelerator
29 min listen
First Principles Thinking for E-Commerce Part II of II: What are first principles? And are there any for e-commerce sellers? In this episode we’ll explore that topic and explain how e-commerce first principles apply to your business in a powerful way. What you’ll learn - by Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Woocommerce business owners, and other e-commerce sellers and digital entrepreneurs.
27 min listen
First Principles Thinking for E-Commerce Part I of II: What are first principles? And are there any for e-commerce sellers? In this episode we’ll explore that topic and explain how e-commerce first principles apply to your business in a powerful way. What you’ll learn - by Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Woocommerce business owners, and other e-commerce sellers and digital entrepreneurs.
26 min listen
How Do I Manage Haphazard Routines? [Episode 218]: A really common question we get here at LearnDoBecome is, "What do I do if my life isn't set up for consistent routines?" I'm sharing some great community responses and insights to this question, and I hope they will be a source of encouragement for... by LearnDoBecome Radio
17 min listen

Discover this podcast and so much more

Episode 003 - The Power of Rule Two (Plus Rule One)

Episode 003 - The Power of Rule Two (Plus Rule One)

Description

Titles in the series (100)

More Episodes from The YNAB Podcast

Related podcast episodes