Why I Hate Debt Pt. 2: Constraints & Creativity
About this episode
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.
Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
Get every episode summarized
Each time The Jesse Mecham Show publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
No transcript yet
This episode has not been transcribed. Request it and it moves to the front of the queue.
More episodes
