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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310 - Pay Yourself First
309 - You Have a Spending Problem
308 - Taxes Tax Your Take Terribly
307 - "I Want A 100-Foot Boat"
306 - My Favorite Time of Year
305 - Merry Christmas, A Gift You Can Give Me :)
304 - Going Back to Your Roots
BONUS - A Conversation with Celia Benton
BONUS - A Conversation with Mitchel Burton
303 - Holiday Limits
BONUS - A Conversation with Matthew Dricci
BONUS - A Conversation with Jonathan Dale
BONUS - A Conversation with Holly MacKenzie
BONUS - A Conversation with Dan Kellermeyer
302 - The Costs of "Settling In"
301 - Black Friday Cometh
300 - Planned Spontaneity
299 - Experiences? Priceless.
298 - Loose Change, or Lose Change?
297 - Do I Still Need a Budget?
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