You Need a Budget
The Proven System for Breaking the Paycheck-to-Paycheck Cycle, Getting out of Debt, and Living the Life You Want
By: Jesse Mecham
Narrated by: Jesse Mecham
Length: 4 hrs and 54 mins
Unabridged Audiobook
Release date: 12-26-17
Language: English
Publisher: HarperAudio
Genre: Budgeting, Money Management, Non-Fiction, Self Help
My Rating: 4.5 of 5.0 Overall; Story 4.5; Narration 4.5.
Publisher's Summary
For most people, budgeting conjures up the same feelings as, say, prison and dieting. But your initial instinct couldn't be further from the truth. You just haven't budgeted the right way.
You Need a Budget will teach you four simple rules to completely revolutionize the way you think about managing your money. With a budget, you'll break the paycheck-to-paycheck cycle, get out of debt, and save more money. A liberating, enabling, empowering budget will actually make you feel more free, not more restricted. The YNAB philosophy is centered around these four rules:
- Give every dollar a job. Take your cash, checking, and saving accounts and assign jobs to that money. Begin now with what you have on hand. Then follow your plan. Pick your priorities, and make sure your dollars are helping you move closer to the things you care about most.
- Embrace your true expenses. Look ahead and identify the larger, less frequent expenses that tend to sneak up on you. Break those expenses into manageable monthly amounts. Consider insurance premiums, birthdays, holidays, charitable giving, car repairs, etc. This practice evens out your cash outflows, decreases your stress, and helps you make better decisions.
- Roll with the punches. Accept the fact that life always changes and you'll likely always go over budget somewhere. If an unexpected expense comes up and you need to change your budget, just change it. The YNAB philosophy not only tolerates changing your budget but encourages it.
- Age your money. The goal of this rule is to increase the time between the moment you earn money and the moment you spend that money. In other words, if you're going to break the paycheck-to-paycheck cycle, you need to learn to live on money you earned a month or two months or even three months ago.
PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio.
©2017 YNAB Licensing LLC (P)2017 HarperCollins Publishers
Review:
This engaging nonfiction gives a workable plan to help anyone manage their money. The author, Jesse Mecham, provides four precise steps to follow for getting control of your funds. A short version of the rules is: 1) Give each dollar a job, 2) Embrace (identify) your true expenses, 3) Roll with the punches, and 4) Age your money (increase the time it remains in your bank or pocket).
These rules are very important for those living paycheck to paycheck, especially considering the stress of dealing too many bills and too little money. Even those with excess funds will find the rules helpful to reduce wasted spending and help achieve goals once they are prioritized. After covering each of the rules, Mecham presents several focused chapters on couples, slaying debt and teaching kids to budget.
Mecham uses real-life examples that readers/listeners can relate to. The book moves along well and is a good length so it isn’t overwhelming. The pdf that is provided is primarily an appendix of additional resources. Since this shorter work does leave room for more detail and hands-on practice, it is good to know that there are great videos available online. I shared the videos of the basic rules with my office staff to encourage them to remember the benefits of budgeting. I recommend this to everyone who struggles with money management.
Audio Notes: Mecham narrates this with an engaging voice and clearly knowledgeable base. I am glad that I picked this up at a good discount as a daily deal.
Source: 9/9/18 Audible Daily Deal $1.95. This qualifies for 2020TBR, 2020Audiobook, and 2020Alphabet goals.
