Damien discusses the recent rebranding of YNAB (You Need A Budget) and the introduction of the term 'spendfulness.' He critiques the effectiveness of this new term and argues for a return to the straightforward concept of budgeting. He expresses his love for YNAB while highlighting its identity crisis and the need for clarity in its messaging.

00:00 YNAB Reinvents Itself

00:44 YNAB Invents A Word

03:30 Stop Tricking People into Budgeting

05:20 YNAB's Identity Crisis

06:22 Please Join the YNAB Cult

In this episode, Damien discusses the critical importance of having an emergency fund as a financial safety net. He outlines the steps to build an emergency fund, addresses common misconceptions, and provides strategies to overcome behavioral barriers to saving.

The episode also covers how to determine the appropriate size for your emergency fund, where to keep it, and how to adjust it over time as life circumstances change. Listeners are encouraged to take actionable steps towards building their emergency fund and to share their experiences.

Chapters

00:00 Introduction

01:09 Recap of Easy Mode Money Ladder

03:05 What is an Emergency Fund?

04:06 I Don't Need an Emergency Fund!

07:59 Overcome Barriers to Saving

14:17 How Much Should I Save in My Emergency Fund?

19:36 Where Should I Keep My Emergency Fund?

24:24 Adjusting Your Emergency Fund Over Time

25:48 Strategies for Building Your Emergency Fund

28:19 Viewer Feedback

In this episode of Your Money on Easy Mode, Damien discusses the fundamentals of budgeting, emphasizing its importance in achieving financial security. He introduces the concept of budgeting as a plan for money management, debunking misconceptions around the term.

The episode covers practical steps for tracking spending, organizing budgets using the 50-30-20 rule, and implementing effective budgeting strategies. Damien also highlights common mistakes to avoid, encouraging listeners to view budgeting as a tool for aligning spending with personal priorities rather than a restrictive measure.

Chapters

00:00 Intro

01:02 Defining Budgeting: A Plan for Your Money

03:36 Tracking Your Spending: The First Step

07:25 Organizing Your Budget: The 50-30-20 Rule

08:21 50% for Needs

09:57 30% for Wants

10:55 20% for Saving/Investing/Debt Repayment

11:25 Recap of Easy Mode Money Ladder

12:59 50/30/20 Example and Tweaks

15:26 Tips for Implementing Your Budget

20:53 Common Budgeting Mistakes to Avoid

22:56 Conclusion

In this episode of Your Money on Easy Mode, Damien introduces Season Two and outlines the Easy Mode Money Ladder, a step-by-step guide to managing personal finances effectively. The conversation covers essential financial strategies, including building an emergency fund, maximizing employer retirement matches, paying off high-interest debt, and investing for long-term wealth. Damien emphasizes the importance of following the steps in order to achieve financial clarity and avoid common mistakes.

Chapters

00:00 Recap of Season One

01:00 Intro to Season Two

01:42 The Easy Mode Money Ladder

02:39 Easy Mode Money Ladder Inspiration

04:20 Step 1: Save Up for Insurance Deductibles

05:59 Step 2: Employer Match in Retirement Accounts

07:04 Step 3: Paying Off High-Interest Debt

09:50 Step 4: Fully Fund Your Emergency Fund

10:44 Step 5: Invest in IRA and HSA

12:56 Step 6: Maxing Out Employer-Sponsored Retirement Accounts

14:11 Step 7: Hyper Accumulating Savings

15:33 Step 8: Save for Other Goals

15:58 Step 9: Pay Off Low-Interest Debt

17:30 Common Mistakes to Avoid

19:40 Conclusion and Homework

Welcome to Your Money on Easy Mode!

I’m Damien, your go-to guide for simplifying your finances and making your money work smarter, not harder. Think of me as that friend who’s obsessed with credit card rewards, high-yield savings accounts, and index fund expense ratios—but in a way that makes it fun and easy for YOU to level up your financial game.

Here’s what you can expect on this channel:
Deep-Dive Long-Form Videos: Personal finance and investing made simple.
Quick 1-Minute Tips: Bite-sized hacks to keep your wallet sharp.

If you’re ready to take control of your money without the boring lectures, hit that Subscribe button and start exploring my videos. Together, we’ll put your money on easy mode! 💪

With prices going up everywhere due to inflation (and even greedflation), is it possible to find a good deal anymore? It definitely is, but it requires a bit more work. In today's episode, I'm going to reveal all my secrets for how I get the best deals on everything. Let's go! In today's episode: 1) We'll see that another hotel chain is increasing the number of points you need to stay for free for a night. 2) Then I'll show you all of my tools and tips to get the best deals on every purchase. 3) And finally, we'll see how the introduction of surge pricing in the fast food industry has led to a lot of angry customers.

Do you ever wish you could take a friend or family member on trips for next to nothing? Well, you're in luck. In this episode, I'm unveiling all my secrets for scoring the ultra-valuable Southwest Companion Pass. This is the insider info you need to travel more and spend less. Get ready to learn how a strategic approach with credit cards can unlock almost two full years of buy-one-get-one-free flights on Southwest for you and a designated companion.

In this episode, Damien discusses the biggest investing mistakes that people make and provides advice on how to avoid them. He starts by talking about the failure of self-checkout technology and how it has not delivered on its promises. Then, he dives into the four biggest investing mistakes, which include not investing, trying to pick winning stocks, trying to time the market, and paying high fees. Finally, Damien shares his thoughts on gold as an investment and concludes with a recap of the main takeaways. Damien is back with another no-nonsense episode to help you take control of your money and investing. This time, he tackles the topic of why self-checkout has been failing retailers and customers alike. Get the inside scoop on the promises made by self-checkout technology versus the disappointing reality. Find out why major retailers like Target and Walmart are actually removing self-checkout kiosks from some stores and admitting it hasn’t delivered on expectations. You’ll hear surprising quotes from Dollar General’s CEO about why they relied too heavily on the tech this past year and how they’re course-correcting in 2024. Then it’s time to highlight the four biggest investing mistakes you are likely making right now, whether you realize it or not. Find out why not investing at all can seriously shortchange your future self. Learn why you should avoid the temptation to pick individual stocks and instead embrace market-tracking index funds. Discover how attempting to time the market often backfires. And get educated on the hidden, excessive fees that can gobble up your returns over time if you don’t watch out. Damien breaks it down in simple, empowering language and offers actionable alternatives to put you back in control. No jargon, no judgment, just real talk. Finally, stick around for a recap of the heated debate Damien recently sparked on social media by calling out gold as a poor investment. Hear which three hard-hitting anti-gold videos got the gold bugs riled up to defend their territory. Find out Damien’s tips for what to invest in instead of the shiny precious metal.