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
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Invest In Preparedness, Not Prediction
A Quote from F.W. Boreham
Ask Jesse: Selling a Rental Property, Buying a Car, and Pausing Retirement to Save?
Giving the Old Bird to Money
It Has Nothing, and Everything, to Do with Spending
You Didn't Quit. To Every Season...
Building Habits: Four of Them, Actually
BONUS: Goodbye Mint, Hello YNAB
Joy Is a Three
It's You All the Way Down
Ask Jesse: Airlines are Banks, Better Money Habits, and Fast Talking
Ask Jesse: Credit Card Rebels, Banks, and Emergency Funds
Guilty on All Counts
Shift Your Spending Into High Gear
Ask Jesse: ...And Done!
Ask Jesse: We're Getting There People!
Ask Jesse: Still Catching Up
Ask Jesse: Catching Up
An Experiment Made Permanent
When Expenses Rise: Ben Rolls With the Punches
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