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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342 - Motivation the Grind
341 - Broken Budgets
339 - API
340 - FOMO
YNAB Interview with Mike Michalowicz
338 - Budgeting is Spending
337 - Taking a Vacation from Budgeting
336 - Better Halves and Budgets
Ep 07 Debt Story: Meet Jennifer
335 - Money Stops, Obligations Keep Coming
Ep 06 Debt Story: Meet Sydney
334 - Parenting is Hard, Not Expensive
Ep 05 Debt Story: Meet Brittany
332 - Antifragile Finances
Ep 04 Debt Story: Meet Daniel
333 - Lowering the Baseline
Ep 03 Debt Story: Meet Andy & Melissa
330 - Is Eating Out Eating Your Budget?
Ep 02 Debt Story: Meet Tom
331 - Sacreligious Budgeting
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