In Part 2 of the Why I Hate Debt miniseries, Jesse explains why debt is a non-negotiable for him, and why is should be for you too.
At 22 years old, trying to finish his Masters degree and expecting his first child, Jesse found himself caught between two non-negotiables: 1.) Living without debt, and 2.) Allowing his wife to quit work to focus on raising their child. The problem? They didn’t have enough money to last until Jesse started working his new job after graduation, even living a very frugal existence.
At this point, it would have been so easy to simply sign for a student loan to cover the shortfall. It was only about $7,000. Other students around him were borrowing far more. The interest rates were low, the payback period would be short… debt was the easy way out.
But choosing to borrow would have blinded Jesse to the possibility of another solution, another way to make up the shortfall. The constraints of his non-negotiables led him to start selling his budgeting spreadsheet, which eventually turned into You Need A Budget.
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Ask Jesse: ...And Done!
Ask Jesse: We're Getting There People!
Ask Jesse: Still Catching Up
Ask Jesse: Catching Up
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When Expenses Rise: Ben Rolls With the Punches
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Rules Changes: A Quick Trip Through YNAB History
How to Talk to Your Partner About Budgeting
Managing Vacation Transactions
How Often Should You Reconcile?
Leaving Margin for Life
One Easy Trick to Boost Your Retirement Savings
This Question Doesn't Have to Be Scary: Can I Afford This?
A Different Take on Credit Cards
Paying Off Debt the Sustainable Way
Rule Four Reviewed
Rule Three Reviewed
Rule Two Reviewed
Rule One Reviewed
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