You Need a Budget Book Cover

You Need a Budget

The Proven System for Breaking the Paycheck-to-Paycheck Cycle, Getting Out of Debt, and Living the Life You Want
Book by: Jesse Mecham
Publishing Year: 2017
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What’s inside

Jesse Mecham proposes a new mindset that changes the way a budget is viewed. He suggests shifting the focus from money to the lifestyle that one wishes to create with that money. He encourages the reader to take control of their financial situation. He offers four rules that can be adopted as guiding lights in the life changing journey of budgeting.

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Lesson 1. Why Do You Need a Budget?

The very thought of a budget arising is a clear indication that money is a stressful concept for you, and it is a valid stress. This stress can be caused by various factors such as how to earn more money, how to manage it, how to save, where to employ your savings, and so on. All our monetary stress could be narrowed down to one question- Can I afford this? Or rather should I? 

Your financial stress is further escalated by firstly, a lack of confidence in yourself. There are too many options out there regarding saving schemes, and financial advice. You just cannot settle on one. Secondly, you do not have a proper system for making decisions for savings and spending. Lastly, it is comfortable to hide behind the lack of financial knowledge. 

Jesse Mecham proposes a change in mindset to deal with the stress. He suggests shifting the focus on what I want my money to for me. Take charge of your money and make it do things that you care about. Your money should help you achieve the plans that matter to you. Once you have decided your priorities, the journey to budgeting can begin. 

For most people, budgeting is synonymous with restrictions and unhappiness. Jesse encourages you to see your budget differently. A budget is a system for making decisions. Decisions that help prioritize your dreams and create the life that you want. It gives the freedom to step away from guilt and spend or save money to fund plans that you want to come true. These plans can be as big as buying a house or as small as affording takeout two times a month. As long as your plans hold value for you, you can create a budget that allows you to reach there. 

Jesse advocated four rules of budgeting that are spread throughout the book. These four rules are going to be both a guiding light and a check post along the way. 

 

Lesson 2. What to Know Before You Budget

Before starting a budget, it is essential to highlight the priorities. Once the priorities are clearly marked, only then can plans be formulated to achieve them. It should be kept in mind that these priorities are not set in stone. They can and will change over time, much like life continues to change. Accordingly, the budget should modify itself to accommodate the changes. Changing the budget is not a sign of weakness but adaptability which

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About the author

Jesse Mecham Image

Jesse Mecham founded YNAB in 2004 to help him and his new wife, Julie, watch their money. Studying for his Masters of Accountancy at Brigham Young University at the time, he put his numbers wizardry to work to develop a system to track their expenses that b...

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Chapter List
  • Lesson 1. Why Do You Need a Budget?
  • Lesson 2. What to Know Before You Budget
  • Lesson 3. Assigning Jobs to Your Money
  • Lesson 4. Embracing the True Expenses
  • Lesson 5. Building a New Mindset
  • Lesson 6: Exploring Budgeting As a Couple
  • Lesson 7. Leaving a Budgeting Legacy
  • Lesson 8: How to Beat Debt
  • Lesson 9: Stay Motivated
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FAQs

In the summary of You Need a Budget book, there are 9 key lessons. These lessons include:

  1. Lesson 1. Why Do You Need a Budget?
  2. Lesson 2. What to Know Before You Budget
  3. Lesson 3. Assigning Jobs to Your Money
  4. Lesson 4. Embracing the True Expenses
  5. Lesson 5. Building a New Mindset
  6. Lesson 6: Exploring Budgeting As a Couple
  7. Lesson 7. Leaving a Budgeting Legacy
  8. Lesson 8: How to Beat Debt
  9. Lesson 9: Stay Motivated

You Need a Budget by Jesse Mecham was published in 2017.

Once you've completed You Need a Budget book, We suggest reading out as a great follow-up read.

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