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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327 - A Blind Trust
326 - Renting vs. Buying
325 - Blind Obedience and All Its Benefits
324 - Material Joy
323 - How to Retire and Move to the Woods Fulltime
322 - Buyer's Remoreselessness
321 - Let It Go
320 - Where Has Zero Gone?
319 - YNAB / Intuit Acquisition
318 - Ever the Optimizer
317 - The Greatest Showman
316 - "The Mexican Fisherman"
315 - Savings: Undetected.
314 - What do you mean, means?
313 - Non-Negotiables
312 - MASH
311 - All Mixed Up, Don't Know What to Do
310 - Pay Yourself First
309 - You Have a Spending Problem
308 - Taxes Tax Your Take Terribly
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