WEBVTT - Budgeting Like A Beast w/ Jesse Mecham (Bestie) #926 0:00:00.120 --> 0:00:03.080 Happy New Year, everybody, Joel, I should say Happy New 0:00:03.200 --> 0:00:05.160 Year to you first, sitting here right in front of me. 0:00:05.200 --> 0:00:06.800 Yeah, why you gotta tell everyone else first? 0:00:07.760 --> 0:00:11.000 I will say this is our last best episode for 0:00:11.039 --> 0:00:13.760 this holiday season. But with it being the new Year, 0:00:13.800 --> 0:00:15.680 we figured there. I don't know, there might be some 0:00:15.720 --> 0:00:18.040 folks who were taking the day off. We certainly are 0:00:18.079 --> 0:00:21.000 taking New Years off, but that doesn't mean we wanted 0:00:21.000 --> 0:00:24.040 to leave you hanging without how to money episodes. 0:00:24.079 --> 0:00:26.480 Well, in this one, it felt like the right one 0:00:26.880 --> 0:00:28.760 to play at this point time because a lot of 0:00:28.760 --> 0:00:32.479 people but budgeting is a four letter word to some folks. 0:00:32.560 --> 0:00:35.680 Well folks, some folks hate budgeting or they've been inapropriately 0:00:35.720 --> 0:00:37.440 taught about budgeting. They should give it a shot. The 0:00:37.479 --> 0:00:40.640 way it's been talked about has been like, uh, frustrating. 0:00:40.720 --> 0:00:42.440 I'll think about the way we talked about it most 0:00:42.479 --> 0:00:46.280 recently on Monday's Financial festiv Us. Think about all the 0:00:46.320 --> 0:00:48.640 folks who were able to make significant changes to the 0:00:48.680 --> 0:00:52.760 personal finances because they said, and this this is ingrained 0:00:52.800 --> 0:00:54.480 in my mind and I don't know why, but multiple 0:00:54.520 --> 0:00:57.960 folks said that they religiously track their spending and. 0:00:57.960 --> 0:00:59.400 The amount of money they were able to find in 0:00:59.400 --> 0:01:02.680 their lives because of it significant thirty thousand dollars the 0:01:02.680 --> 0:01:04.520 fact that they were able to, oh my gosh, buy 0:01:04.520 --> 0:01:05.759 a home for the first time. 0:01:06.480 --> 0:01:08.560 These are the kind of money moves that we want 0:01:08.600 --> 0:01:11.280 to see people making in this coming year. And like 0:01:11.280 --> 0:01:12.760 you said, though there are a lot of there is 0:01:12.760 --> 0:01:14.920 a lot of pushback when it comes to budgeting, Just 0:01:15.000 --> 0:01:18.160 give it a shot. Like the upside is it could 0:01:18.160 --> 0:01:21.039 be massive, right, like it's yeah, and the downside okay, 0:01:21.040 --> 0:01:22.760 maybe you waste a little bit of times. 0:01:22.920 --> 0:01:25.000 And if anyone can convince you to budget, I think 0:01:25.000 --> 0:01:27.920 it's Jesse in this episode, Like Jessa is Jesse Meachum 0:01:28.040 --> 0:01:30.880 started the business because he was so in love with budgeting. 0:01:30.959 --> 0:01:34.000 Why nab you need a budget? He's got an infectious 0:01:34.120 --> 0:01:36.679 way of talking about budgeting that hopefully can help it 0:01:37.040 --> 0:01:38.920 sink in past your brain to your heart. 0:01:39.080 --> 0:01:41.479 It makes me think about like scheduling a date night 0:01:41.560 --> 0:01:44.520 with your signific with your significant other. What's the worst 0:01:44.520 --> 0:01:46.560 that could happen? Okay, maybe you waste a little bit 0:01:46.600 --> 0:01:47.120 of time. 0:01:47.080 --> 0:01:49.680 But the upside, oh my gosh, like you've just mean, 0:01:49.720 --> 0:01:51.720 like your dates are a wasted time sometimes. 0:01:51.440 --> 0:01:53.400 No, not mine, But like if somebody else is out 0:01:53.400 --> 0:01:55.240 there and they're thinking, I don't want to we don't 0:01:55.320 --> 0:01:57.360 do date nights. That's not that's not how we roll. 0:01:58.440 --> 0:02:01.400 I think the potential, like the potential growth within. I'm 0:02:01.400 --> 0:02:03.560 not going to give like relationship advice here, I wish 0:02:03.640 --> 0:02:08.560 you would, but there's a massive potential for what could happen, right, Like, 0:02:08.600 --> 0:02:10.960 it feels like it's only up into the right and 0:02:11.040 --> 0:02:12.440 the downsides are pretty minimal. 0:02:12.480 --> 0:02:14.079 So that's how we think about budgeting, like, just give 0:02:14.120 --> 0:02:14.920 it a shot. Why not? 0:02:15.440 --> 0:02:16.800 The worst thing that could happen is that you just 0:02:16.840 --> 0:02:19.640 realize maybe okay, Yeah, in fact, I don't really like enjoying. 0:02:19.919 --> 0:02:22.240 I don't enjoy doing this, But the potential for you 0:02:22.280 --> 0:02:24.560 to start saving so much more money, I think. 0:02:24.400 --> 0:02:26.520 Could be huge. Yeah. So I think if your history 0:02:26.560 --> 0:02:31.040 with budgeting is not good, like either you couldn't stick 0:02:31.080 --> 0:02:33.280 with it or you have a bad taste in your mouth, 0:02:33.560 --> 0:02:35.959 this is the episode for you, I think to It's 0:02:36.000 --> 0:02:38.600 like a cleansing mint after eating a lot of gar 0:02:38.680 --> 0:02:41.440 like or something. So yeah, check this episode out. We 0:02:41.480 --> 0:02:43.280 hope you like it, and we hope it helps you 0:02:43.400 --> 0:02:46.480 as we enter twenty twenty five to make budgeting a 0:02:46.520 --> 0:02:48.320 part of your life so that you can crush your 0:02:48.320 --> 0:02:49.360 finances this year. 0:02:49.280 --> 0:02:50.560 And we'll see you back here in a couple of 0:02:50.639 --> 0:02:52.200 days with the fresh Friday flight. 0:02:52.360 --> 0:02:55.400 Welcome to Hat to Money. I'm Joel on Matt. Today 0:02:55.520 --> 0:03:18.840 we're talking budgeting like a Beast with Jesse Meekham. That's right, 0:03:18.919 --> 0:03:21.320 Jesse Meekham. He is joining us on the podcast today 0:03:21.360 --> 0:03:23.880 and we are going all in on budgeting. 0:03:24.160 --> 0:03:26.160 I'm guessing there's a number of folks listening who might 0:03:26.200 --> 0:03:29.120 recognize his name, but I'm guessing even more folks are 0:03:29.120 --> 0:03:31.160 familiar with the company he started back in two thousand 0:03:31.160 --> 0:03:33.359 and three while he was still in college. You need 0:03:33.400 --> 0:03:36.280 a budget, or why NAB as it's commonly known what 0:03:36.320 --> 0:03:39.760 we call it. Millions of individuals have now used why 0:03:39.840 --> 0:03:42.600 NAB to get on a budget, which has allowed them 0:03:42.720 --> 0:03:46.000 to achieve their life changing financial goals. And so whether 0:03:46.040 --> 0:03:50.480 that's simply paying off debt or the complicated endeavor of 0:03:50.680 --> 0:03:53.120 getting on the same page as your partner, that's difficult. 0:03:54.160 --> 0:03:57.280 Jesse has likely thought more about budgeting over the past 0:03:57.320 --> 0:03:59.960 twenty years than anyone else out there, so we're excited 0:04:00.160 --> 0:04:02.320 to talk with him about all the things that he's 0:04:02.400 --> 0:04:05.400 learned and observed Jesse, thank you for joining us today. 0:04:05.800 --> 0:04:06.920 I am so glad to be here. 0:04:06.960 --> 0:04:09.520 Thanks guys, Jesse, We're glad to have you. And the 0:04:09.560 --> 0:04:11.840 first question we ask everyone who comes on the show 0:04:12.360 --> 0:04:14.280 is what's your what do you like to sporte on? 0:04:14.640 --> 0:04:16.720 We call it your craft beer equivalent because Matt and 0:04:16.800 --> 0:04:19.120 I we spend more money than most people would think 0:04:19.200 --> 0:04:21.400 is normal on craft beer because we love it. But 0:04:21.680 --> 0:04:23.560 we're happy to do that because we're saving and investing 0:04:23.600 --> 0:04:25.480 well for the future while we're spending a lot of 0:04:25.480 --> 0:04:26.760 money on beer. So what do you what do you 0:04:26.760 --> 0:04:28.640 spend a lot of money on that maybe people might 0:04:28.640 --> 0:04:30.719 think is kind of crazy. Yeah. 0:04:30.360 --> 0:04:32.480 I wouldn't mix beer and what I spend a lot 0:04:32.520 --> 0:04:35.960 of money on, but I would say my wood shop 0:04:36.960 --> 0:04:42.640 is a It is a money pit and there's always 0:04:42.720 --> 0:04:46.400 another thing you can buy. I'm currently in the shop 0:04:46.440 --> 0:04:49.240 for a floor or in the market for it like 0:04:49.320 --> 0:04:53.040 a floor standing variable speed drill press. 0:04:53.440 --> 0:04:54.880 Yeah, So what are you making in this wood shop? 0:04:54.880 --> 0:04:56.719 Are you making like canoes? Ron Swanson style? What are 0:04:56.760 --> 0:04:57.039 you doing? 0:04:57.279 --> 0:04:59.640 If I had these skills of Ron Swanson, I would 0:04:59.640 --> 0:05:03.039 have a rived. But I he's in real life. He 0:05:03.160 --> 0:05:04.400 is a killer woodworker. 0:05:04.480 --> 0:05:07.799 That's yeah, yeah, I mean making beautiful handcrafted canoes. 0:05:08.080 --> 0:05:11.000 Yeah, it's insane. So yeah. Anyway, I have his book 0:05:11.000 --> 0:05:14.120 here actually called Good Clean Fun by Nick Offerman. It's 0:05:14.120 --> 0:05:17.880 it's excellent, but the yeah, I will make anything. But 0:05:18.200 --> 0:05:21.279 right now I'm working on shop furniture like I'm because 0:05:21.279 --> 0:05:24.120 you can kind of learn like it's if it's if 0:05:24.160 --> 0:05:26.240 it looks bad, it doesn't matter because it's all in 0:05:26.240 --> 0:05:28.040 your shop. So I'm learning a lot of the basics. 0:05:28.040 --> 0:05:31.120 I'm I'm taking like a general like basic woodworking course 0:05:31.160 --> 0:05:33.279 where they go through all the different joinery, kind of 0:05:33.279 --> 0:05:36.440 the foundational joinery. And I love just being a novice. 0:05:36.640 --> 0:05:39.600 So I I have a shop that looks like I'm 0:05:39.640 --> 0:05:42.839 a professional, and I am a novice, and I'm not 0:05:42.880 --> 0:05:44.640 ashamed to admit it. I just I think it's fun 0:05:44.640 --> 0:05:47.279 to get the new tools. So whenever I can squeeze 0:05:47.279 --> 0:05:50.080 it into the old plan, I do it very nice. 0:05:50.160 --> 0:05:54.720 So are you pursuing this purely out of just with it, 0:05:54.839 --> 0:05:56.320 you know, with it being a passion as you know, 0:05:56.400 --> 0:05:59.160 as oh yeah, an interest, not something that you foresee 0:05:59.200 --> 0:06:00.160 being able to sell. 0:06:00.279 --> 0:06:03.200 You know, fine, I would have ruined it. I don't 0:06:03.200 --> 0:06:05.000 want to ruin my hobby about monetizing. 0:06:05.040 --> 0:06:06.800 He's gonna open up like a woodside stands. People are 0:06:06.800 --> 0:06:07.719 gonna be like, I'm not paying for that. 0:06:08.600 --> 0:06:11.359 It was Jesse might get so good that folks are saying, 0:06:11.400 --> 0:06:14.320 please let me buy that that beautiful. 0:06:13.960 --> 0:06:16.120 I will give. I will gift it to them. I will, 0:06:16.279 --> 0:06:18.480 but I refuse to transact in this way. I don't 0:06:18.480 --> 0:06:19.160 want to taint it. 0:06:19.240 --> 0:06:22.360 Don't take, don't ruin it. Jesse, I love it. 0:06:22.400 --> 0:06:25.039 Well, let's kind of start talking about money, not just 0:06:25.120 --> 0:06:28.240 the wood, but so unlike most folks, it sounds like 0:06:28.279 --> 0:06:31.800 your parents actually had like a positive influence on you 0:06:31.839 --> 0:06:34.640 when it comes to getting you started down the path 0:06:34.680 --> 0:06:37.520 of personal finance. How is it that you first started 0:06:37.560 --> 0:06:38.440 learning about money? 0:06:38.839 --> 0:06:42.200 So, I, uh, my parents modeled it well. They modeled 0:06:42.200 --> 0:06:45.880 frugality well, I will say they were really good at 0:06:45.880 --> 0:06:47.599 just saying we don't have money for that, we're not 0:06:47.640 --> 0:06:50.640 gonna spend money on it. We we lived, I mean 0:06:50.800 --> 0:06:55.240 we were you know, middle class, but we lived below 0:06:55.279 --> 0:06:58.760 our means as far as I could gather as a 0:06:58.880 --> 0:07:01.280 as a kid and kind of observed. So they were 0:07:01.320 --> 0:07:03.440 just very, very frugal. I used to think that the 0:07:03.480 --> 0:07:07.560 word vacation meant driving ten hours to Grandma's house. I 0:07:07.560 --> 0:07:11.160 didn't know that there were other options besides just driving 0:07:11.240 --> 0:07:15.000 up there. And then literally one time, starting to read 0:07:15.040 --> 0:07:18.200 the encyclopedia at a I got to Abacus. I didn't 0:07:18.200 --> 0:07:20.280 make it very far, but like, I just bored on 0:07:20.320 --> 0:07:23.440 my vacation, so that, I mean, that's just what we did. 0:07:23.440 --> 0:07:25.160 And I didn't know any different, and it was great 0:07:25.200 --> 0:07:27.440 and they were loving, and so you can't complain at all. 0:07:27.480 --> 0:07:31.480 But one thing that my dad in particular did, I 0:07:31.520 --> 0:07:34.800 think I was fourteen, and he said, hey, you should 0:07:34.840 --> 0:07:36.880 read these books. And so he didn't just say I 0:07:36.920 --> 0:07:39.000 want to teach you about money. He was just like, 0:07:39.040 --> 0:07:41.440 you might find these interesting. And he gave me a couple. 0:07:41.480 --> 0:07:45.880 He gave me Ramsey's book that was Financial Piece, and 0:07:45.960 --> 0:07:48.000 I think now the Total Money Makeover is kind of 0:07:48.040 --> 0:07:51.120 their his more flagship book, but Financial Piece was the 0:07:51.120 --> 0:07:53.560 one that I read, and Ramsey taught me not to 0:07:53.640 --> 0:07:56.040 like debt at all, to hate debt even as a 0:07:56.080 --> 0:07:58.440 fourteen year old, and I thought, okay, that sounds good. 0:07:58.480 --> 0:08:01.200 And then he gave me The Millionaire next Door, another 0:08:01.280 --> 0:08:03.320 great one to kind of learn like it's not about 0:08:03.320 --> 0:08:05.720 what you see, but it's about what's kind of under 0:08:05.760 --> 0:08:07.640 the covers a lot of the time. And then the 0:08:07.680 --> 0:08:09.880 final one was The Richest Man in Babylon, which is 0:08:09.880 --> 0:08:14.920 probably my favorite overall, just those principles approachable. It's the 0:08:15.000 --> 0:08:16.800 same first one I would give, you know, I give 0:08:16.840 --> 0:08:18.800 my kids when they are like, hey, I want to 0:08:18.880 --> 0:08:20.520 learn something. I don't want to sit down and teach them. 0:08:20.560 --> 0:08:22.800 I just want to say, well, here's a book. And 0:08:22.840 --> 0:08:25.480 I think as a kid it's easier to learn sometimes 0:08:25.520 --> 0:08:27.200 from someone else, and so I think it was wise 0:08:27.240 --> 0:08:29.320 of my dad just to say, well, hey, learn it 0:08:29.320 --> 0:08:32.280 from these you know, from these books, And it formed 0:08:32.320 --> 0:08:34.680 a lot of my early opinions. Some of them have 0:08:34.920 --> 0:08:37.480 developed over the years a little differently, but it was 0:08:37.559 --> 0:08:41.520 early informative. And I am forever grateful that I had 0:08:42.040 --> 0:08:44.320 a disdain for debt early on and avoided it in 0:08:44.320 --> 0:08:47.840 college because of that, and that I saw early on 0:08:47.880 --> 0:08:50.600 that I should start with start with investing, and get 0:08:50.720 --> 0:08:53.320 an early jump on it. So yeah, I will be 0:08:53.400 --> 0:08:55.959 forever grateful for the to the authors of those books 0:08:56.000 --> 0:08:57.680 and to my dad for giving them to me. 0:08:58.160 --> 0:09:01.800 Well, you talk about modeling your parents, modeling the right behaviors, 0:09:01.840 --> 0:09:04.200 but then not being the ones to necessarily preach it 0:09:04.240 --> 0:09:06.719 at you, you know, over and over. And I think 0:09:06.720 --> 0:09:09.240 that's really important because I think modeling goes the farthest. 0:09:09.280 --> 0:09:11.400 Then let someone else do the preaching and maybe that's 0:09:11.440 --> 0:09:14.720 the best combo. And it's interesting you mentioned your kids too. 0:09:14.760 --> 0:09:19.520 You've got seven kids, which is as much as Matt 0:09:19.520 --> 0:09:22.440 and I have kids, and we got to catch up. 0:09:23.080 --> 0:09:25.319 I mean, you need a spreadsheet to run that many kids, 0:09:25.520 --> 0:09:27.360 right right, you guys would be fine, but. 0:09:27.640 --> 0:09:30.040 Yeah, it's easier for us. I've got family five, he's 0:09:30.040 --> 0:09:31.480 got a family six. But you got it, you got 0:09:31.480 --> 0:09:33.640 a massive family. So how does that How has that 0:09:34.000 --> 0:09:37.200 impacted your Did that like make you feel like you 0:09:37.200 --> 0:09:39.520 needed a budget? Obviously you started your journey even before that. 0:09:39.559 --> 0:09:42.040 But have you found it to come in even more handy? 0:09:42.360 --> 0:09:43.640 Have you? I've been big of a family. 0:09:44.000 --> 0:09:47.320 Well, honestly, the first the thing that made me and 0:09:47.360 --> 0:09:49.920 my wife's name is Julie, that that made us feel 0:09:49.960 --> 0:09:53.319 like we had to really be careful early on was 0:09:53.360 --> 0:09:56.720 we were we were dirt poor, and we were both 0:09:56.760 --> 0:09:59.280 in school and just eching by, and then we were 0:09:59.280 --> 0:10:02.439 going to get married, and so combining these meager finances 0:10:02.480 --> 0:10:05.120 together it doesn't do any there's no synergy there. You're 0:10:05.160 --> 0:10:07.120 just like, okay, now we both make I mean, there 0:10:07.160 --> 0:10:09.720 was just no win and we were actually paying more 0:10:09.720 --> 0:10:12.440 in rent than we would have been as single kids anyway. 0:10:12.480 --> 0:10:14.320 So I'm just like, man, Julie, we got to be 0:10:14.320 --> 0:10:17.280 really careful. So we get married. I build this little 0:10:17.280 --> 0:10:20.080 spreadsheet that later became wine app but at the time 0:10:20.120 --> 0:10:22.400 it was just for me and for Julie and we 0:10:22.440 --> 0:10:25.439 start watching everything really close. But the thing that pushed 0:10:25.440 --> 0:10:28.880 me to say, hey, maybe I could sell this spreadsheet 0:10:29.160 --> 0:10:30.920 was it had worked for us for that year. We 0:10:30.920 --> 0:10:35.720 were able to start saving money, and then we saw 0:10:35.760 --> 0:10:38.000 that a baby was coming and it was planned, but 0:10:38.520 --> 0:10:40.320 we were still not making a lot of money, like 0:10:40.360 --> 0:10:43.680 ten bucks, you know, eleven bucks an hour and trying 0:10:43.720 --> 0:10:46.199 to get through school and so to have a baby inbound, 0:10:46.800 --> 0:10:48.680 that was what made us think, Okay, we got to 0:10:48.720 --> 0:10:51.480 try and figure out some way to let Julie exit 0:10:51.520 --> 0:10:55.440 the workforce and have me be able to try and 0:10:55.559 --> 0:10:59.360 balance maybe earning some side money and finishing up school. 0:10:59.440 --> 0:11:04.560 So the push of providing for kids, oh, that was 0:11:04.600 --> 0:11:08.280 what gave us that that drive, and so I'm grateful 0:11:08.280 --> 0:11:10.040 for it. It's not fun in the moment, but it 0:11:10.080 --> 0:11:12.760 does kind of squeeze the creativity out of you at times. 0:11:13.120 --> 0:11:14.400 Yeah, it's kicking the pants. 0:11:15.200 --> 0:11:18.480 Yeah, nothing like in another human being being dependent on 0:11:18.520 --> 0:11:20.560 your ability to manage your own finances in order to 0:11:20.600 --> 0:11:24.280 provide for them. So that certainly can be that, like 0:11:24.280 --> 0:11:25.720 you said, you'll kick in the pants. But like, what 0:11:25.720 --> 0:11:29.200 would you say, Jesse, to folks who or otherwise than 0:11:29.280 --> 0:11:31.680 just repulse by the idea of making a budget. Essentially, 0:11:31.679 --> 0:11:33.760 I would love for you to maybe make a case 0:11:33.880 --> 0:11:36.240 for budgets for those out there who don't necessarily feel 0:11:36.280 --> 0:11:37.480 like it's something they need to do. 0:11:37.880 --> 0:11:40.040 Yeah. I mean, I don't even like the word budget. 0:11:40.120 --> 0:11:43.319 I wish that our company was named something really I 0:11:43.360 --> 0:11:46.200 don't know, fancy, like that sounds like a perfume. Maybe 0:11:46.240 --> 0:11:49.280 I don't know, something different. Because people they hear the 0:11:49.280 --> 0:11:52.800 word budget and they think restriction, no more fun diet. 0:11:53.960 --> 0:11:57.360 It's just like everything's just going to kind of bear 0:11:57.440 --> 0:11:59.720 down on them, and maybe their their spouse or significant 0:11:59.760 --> 0:12:01.679 other tells them, hey, we need a budget, and then 0:12:01.679 --> 0:12:04.319 it's like double worse. It's like, Okay, not only will 0:12:04.320 --> 0:12:05.839 we a budget, but you're going to be running the 0:12:05.840 --> 0:12:07.320 budget and I'm going to be the one that's making 0:12:07.320 --> 0:12:09.960 all the mistakes and just nothing is good about it. 0:12:10.000 --> 0:12:14.320 So a budget is really it's just a plan, and 0:12:14.600 --> 0:12:19.080 all we really care about is that people are intentional 0:12:19.280 --> 0:12:23.400 with their money and that's it. That's the end of it. 0:12:23.400 --> 0:12:26.000 We want people to love how they spend their money 0:12:26.080 --> 0:12:29.520 instead of having their spending just stress them out, strain 0:12:29.559 --> 0:12:32.520 their relationship, suck the fun out of everything. I mean, 0:12:32.520 --> 0:12:34.640 people are so worried about a budget taking the fun 0:12:34.640 --> 0:12:37.080 out of life, but they will go on vacation with 0:12:37.160 --> 0:12:40.560 this like this low burn like kind of simmer in 0:12:40.600 --> 0:12:42.920 the back of their mind. As they're racking up credit 0:12:42.920 --> 0:12:44.839 card debt. They're just like, I know this isn't good. 0:12:44.840 --> 0:12:47.440 I know this isn't good. And so I'm trying to say, well, 0:12:47.480 --> 0:12:49.440 maybe try the thing where you save up for the 0:12:49.520 --> 0:12:52.600 vacation and you actually get to spend money guilt free. 0:12:53.480 --> 0:12:56.280 So a budget's just a plan, and it's your plan 0:12:56.480 --> 0:12:58.200 and you get to make it however you want. But 0:12:58.440 --> 0:13:00.360 if it means that if you have to do a 0:13:00.360 --> 0:13:03.079 budget in order to have a pile of intention kind 0:13:03.120 --> 0:13:05.199 of like rising up behind your money, then that's that's 0:13:05.240 --> 0:13:06.800 what we want. And that's what we're gonna call it. 0:13:06.920 --> 0:13:09.000 We are you got. You gotta love how you spend 0:13:09.040 --> 0:13:11.600 your money. If you feel guilty about it, there's a problem. Right, 0:13:11.640 --> 0:13:14.320 If you're arguing with your spouse, it means there's a problem. 0:13:14.720 --> 0:13:16.640 And so we want to get that spending lined up 0:13:16.679 --> 0:13:18.880 with your real priorities. And then man, you're off to 0:13:18.920 --> 0:13:21.719 the races. That that's when money becomes fun. And I 0:13:21.760 --> 0:13:23.440 don't know, I can't imagine any other way. 0:13:23.679 --> 0:13:25.520 So do we just rename you need a budget to 0:13:25.559 --> 0:13:27.160 you need a money plan, wine amp. 0:13:27.440 --> 0:13:29.840 Something like that, or or the can thing I could like, 0:13:30.360 --> 0:13:31.920 you know, mystique or something I don't know. 0:13:31.920 --> 0:13:33.800 Okay, all right, well, yeah, you let me know when 0:13:33.800 --> 0:13:35.560 you're ready for that rebrand. I'm curious to hear how 0:13:35.679 --> 0:13:37.480 how it takes out cool water. I think when you're 0:13:37.520 --> 0:13:39.959 in middle school a car. Maybe that was a good one. 0:13:40.240 --> 0:13:43.760 Uh well, Jesse, some folks in the financial independence community, 0:13:43.960 --> 0:13:46.200 they're just super naturally frugal, right, and so they would say, 0:13:46.320 --> 0:13:48.880 I am intentional with my money, but I don't feel 0:13:48.880 --> 0:13:50.640 like I need the budget part. And so based on 0:13:50.640 --> 0:13:52.120 what you just said, I wait, what would you say 0:13:52.120 --> 0:13:54.839 to someone like that who says like I'm handling things 0:13:54.880 --> 0:13:57.000 pretty well. I've got a huge gap between incoming and 0:13:57.040 --> 0:14:00.440 outgoing investing a lot for the future. Like, do I 0:14:00.480 --> 0:14:03.280 need to sit down and actually like mess with the 0:14:03.360 --> 0:14:05.920 numbers every single month or every other week? 0:14:06.200 --> 0:14:08.880 Yeah, I know, No, they don't. If if they're if 0:14:08.920 --> 0:14:12.120 you're have some massive gap between you know, money in 0:14:12.120 --> 0:14:15.240 and money out, and the net worth keeps climbing even 0:14:15.240 --> 0:14:18.720 if the market's doing what it's been doing, especially, then 0:14:18.880 --> 0:14:21.160 you're good to go. You have a plan and the 0:14:21.200 --> 0:14:23.920 plan is working because the score that we're keeping is 0:14:23.960 --> 0:14:26.680 net worth, and especially I would say the score is 0:14:26.960 --> 0:14:29.560 how much you are sending to your investment pile. Not 0:14:29.640 --> 0:14:32.120 so much fluctuations in the market, you can't totally control that, 0:14:32.240 --> 0:14:34.200 but the fact that you're you're you know, you got 0:14:34.200 --> 0:14:36.880 a big shovel and you're flinging tons of money over 0:14:36.920 --> 0:14:40.400 the wall into that retirement bucket you're winning. So I 0:14:40.960 --> 0:14:43.840 wouldn't change a thing now for someone that's like, hey, Jesse, 0:14:45.120 --> 0:14:47.000 my net worth it's you know, I'm not really saving 0:14:47.040 --> 0:14:50.200 a ton, but I know that I'm frugal, then I'd 0:14:50.200 --> 0:14:53.200 be like, oh no, they or they like I already 0:14:53.280 --> 0:14:55.120 know the much. Yeah, they're like, I already know how 0:14:55.200 --> 0:14:58.480 much I spend. I'm like no, or I I know that, 0:14:58.640 --> 0:15:02.320 I just I EQ anyway, so I already am tight. 0:15:02.480 --> 0:15:05.280 I don't need to look. That's all just ways of 0:15:05.320 --> 0:15:07.120 saying like I don't really want to be aware, or 0:15:07.160 --> 0:15:09.360 I'm actually unaware, or I think I'm aware and I'm not. 0:15:09.920 --> 0:15:11.760 All those things we want to make sure we iron out. 0:15:12.000 --> 0:15:14.640 So but for the person that like literally their money 0:15:14.760 --> 0:15:18.400 just keeps growing and growing, yeah, you hit it, you're 0:15:18.600 --> 0:15:21.200 doing it. You just don't. You aren't super granular in 0:15:21.240 --> 0:15:25.280 your plan for your spending, but you're you're nailing it 0:15:25.360 --> 0:15:28.200 on those big big movers, you know, those big goals. 0:15:28.440 --> 0:15:30.360 Then yeah, you're good to go. I wouldn't have you 0:15:30.760 --> 0:15:31.360 change a thing. 0:15:31.640 --> 0:15:33.400 I don't want to say those people are unicorns, but 0:15:33.560 --> 0:15:33.880 they're not. 0:15:34.120 --> 0:15:36.680 As it's just I'm not worried my market's going to 0:15:36.760 --> 0:15:38.480 disappear by just you know. 0:15:39.160 --> 0:15:41.600 Yeah, that's that's maybe one percent of the population that 0:15:41.680 --> 0:15:46.160 really is is in that realm of managing their finances. 0:15:46.200 --> 0:15:47.800 But I do think it's important to mention that that 0:15:47.920 --> 0:15:49.760 some of those folks is exist and they might not 0:15:49.960 --> 0:15:51.680 need a budget in the same way that most. 0:15:51.600 --> 0:15:54.640 Now, if I could interject one more thing, someone that's 0:15:55.000 --> 0:15:59.320 you know, Elon Bezos, these massively wealthy people, they still, 0:15:59.360 --> 0:16:03.480 hopefully with all of this resources, hopefully are being extremely 0:16:03.760 --> 0:16:08.680 intentional with all of that value that's there. So when 0:16:08.720 --> 0:16:10.880 you have someone that's like I make tons Jesse, I 0:16:10.920 --> 0:16:12.720 don't have to worry about it. I would kind of 0:16:12.720 --> 0:16:16.520 turn around and say, listen, man, you you have been 0:16:16.960 --> 0:16:19.400 gifted this, You've worked for it, however you want to say, 0:16:19.440 --> 0:16:23.480 this came into your possession. You have something tremendously valuable 0:16:23.560 --> 0:16:28.640 in this world. Let's not be so cavalier and so 0:16:30.040 --> 0:16:33.640 flippant about the fact that you have this massively useful 0:16:33.720 --> 0:16:39.920 resources that could potentially be, you know, deployed to have 0:16:40.040 --> 0:16:42.760 some great effect in the world. And I'm not even meaning, hey, 0:16:43.200 --> 0:16:45.400 you know, shame on you for not giving it away. 0:16:45.400 --> 0:16:46.800 There are plenty of charities that I'd be like, oh, 0:16:46.840 --> 0:16:49.000 that probably wasn't a great use of money, if you know, Like, 0:16:49.360 --> 0:16:52.160 I'm no judge of that, but just let's take you 0:16:52.360 --> 0:16:55.320 and make sure that all of your intention, all of 0:16:55.360 --> 0:16:58.200 the best parts of you are channeled behind that big 0:16:58.240 --> 0:17:01.200 pile of money, and that it becomes something great and grand. 0:17:01.560 --> 0:17:04.919 Let's not have it just be frittered away. So for 0:17:04.960 --> 0:17:08.240 those that have a fantastic pile of resources, I think 0:17:08.240 --> 0:17:12.320 it's incumbent upon them even more so to be really intentional, 0:17:12.400 --> 0:17:15.000 really thoughtful, careful about what they do with it. 0:17:15.359 --> 0:17:17.480 Yeah, maybe that looks like a budget, but like you said, 0:17:17.520 --> 0:17:20.159 it's having a plan. And I think even those folks 0:17:20.200 --> 0:17:22.320 would be able to benefit from a plan because you 0:17:22.359 --> 0:17:25.040 take a high reformer and you put them under the 0:17:25.080 --> 0:17:27.720 direction of an amazing coach, and all of a sudden, 0:17:27.760 --> 0:17:30.040 they're doing stuff that they never thought was possible. Right, 0:17:30.080 --> 0:17:32.800 if making millions came easy to them, we'll just think 0:17:32.800 --> 0:17:33.040 what you. 0:17:33.040 --> 0:17:34.400 Could do otherwise. 0:17:34.720 --> 0:17:37.000 But I like what you said too, Like, at least 0:17:37.000 --> 0:17:39.480 from an investing standpoint, they're kind of knocking it out 0:17:39.480 --> 0:17:41.520 of the park. But I mean, one of the reasons that, 0:17:41.760 --> 0:17:43.639 or one of the ways I guess my wife and 0:17:43.680 --> 0:17:45.439 I were able to Kate and I that we were 0:17:45.440 --> 0:17:47.720 able to get on the same page just when it 0:17:47.760 --> 0:17:49.280 came to budgeting, is because we saw it as a 0:17:49.280 --> 0:17:51.240 way essentially, as a way for us to have some 0:17:51.280 --> 0:17:53.560 freedom and how it is that we spend our money. 0:17:53.560 --> 0:17:55.960 Because I think, I mean, my natural tendency might be 0:17:56.119 --> 0:18:00.719 to not just be frugal, but just to seriously deprive ourselves. 0:18:00.760 --> 0:18:05.600 And so yeah, exactly, we saw an ability for us to, 0:18:06.680 --> 0:18:08.600 like you said, be intentional with our money, but just 0:18:08.760 --> 0:18:10.960 we had the freedom to then spend our money in 0:18:11.000 --> 0:18:14.080 the ways that we said we wanted to. But maybe 0:18:14.119 --> 0:18:17.320 in practice we found that to be harder. Yeah, moving 0:18:17.320 --> 0:18:19.560