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
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
Follow YNAB on social media:
Facebook: @iYNAB
Instagram: @youneedabudget
Twitter: @ynab
Tik Tok: @ynabofficial
Budget Nerds Is Now a Podcast!
Ask Jesse: Planning for 3-Month Paychecks and Windfalls
Ask Jesse: How Do You Budget After Retirement?
Real Estate 101 with Scott Trench (BiggerPockets)
The Organized Wallet with Ashley from TikTok
Take the More Money Challenge with Veronica
Budget Burndown Revisited: How to Set and Reach Your 2022 Financial Goals
EP13 Money Stories: Jak and Chelsea Tackle ADHD... with YNAB
Celebrating Your Biggest Wins in 2021
Ask Jesse: How Do I Get Back on the Budget Bandwagon?
Meet the Chief of Side Hustles: Nick Loper
Ask Jesse: How to Launder Money... for Christmas?!
Don't Afterpay Your Way Though the Holidays
Ask Jesse: Living Right And It's Not Fair
Adapt or Die
Ask Jesse: Should I Sell My Crypto to Pay Off Debt?
Growth After Trauma: Krista St. Germain from The Widowed Mom Podcast
EP12 Money Stories: Njeri Young Asks "How Do You Want Your Money to Treat You?"
18 Summers: Jim and Jamie Sheils on Building Stronger Families
Money Story EP11: Chris Wilson on Simplifying Your Why
Create your
podcast in
minutes
It is Free
We Study Billionaires - The Investor’s Podcast Network
Money Girl
So Money with Farnoosh Torabi
Money Tree Investing
The Disciplined Investor