Listen "The Budget Show"
Episode Synopsis
Behind the scenes of my simple and practical new financial freedom plan to help me create the life I want. Today is about taking action and control of your finances so you can create the life you want.The motivation or my why for taking action on my finances.The two books that helped me build the framework and key takeaways from each.My new plan along with the tools I am using to put my financial plan on auto-pilot.Part 1: Why am I taking action on my finances? I turn 50 in November Reduce stress and self-doubt Financial Freedom Peace of Mind Control & Clarity Always Moving Forward Opportunity to AdvancePart 2: The 2 Books that led me to action I Will Teach You To Be Rich by Ramit Sethi(Buy on Amazon) The Latte Factor by David Bach(Buy on Amazon) I Will Teach You To Be Rich By Ramit Sethi1st Edition:My biggest takeaway from the 1st edition was setting up online banks for automating your finances. Set it and forget it. Deposit your paycheck in a checking account and have set amounts go to bills, savings, and investments automatically.2st Edition:I ordered the audiobook from Audible immediately and listened to it non-stop for 2 days.This book is a crash course in the fundamentals of investing and also very tactical in that he gives step by step advice along with specific recommendations for investments and online banks.I Will Teach You To Be Rich caused me to take action 10 years ago and it had the same effect on me the 2nd time around because the message throughout the book is taking the time to do this now will help you create the life you want.This book will teach you exactly what to invest in, how to set up online banking so your savings and investing are automatic, and what it means to live a rich life.It’s not about the money, it’s about intentional living and purpose.The Latte Factorby David BachPodcast Mentioned:The James Altucher ShowI also listened to The Latte Factor on Audible from start to finish.The Latte Factor is story about a girl named Zoey who is a twenty-something working and living the dream in NYC and is buried under student loans, debt, and living paycheck to paycheck just trying to make ends meet. Not an unfamiliar story for many. The thought of savings and investing are the furthest thing from her mind as she can barely afford rent. This is a story many of us have experienced and it can be a vicious cycle of financial stress and worry working hard just to pay debts and eek by without being able to put any money aside for travel or savings or retirement.Zoey meets a wise old man who changes her perspective and teaches her many valuable money and life lessons such as the power of compounding interest and one of the the most important lessons of this book and my biggest takeaway from the book is Pay yourself first.**Pay Yourself First: **You take the first hour of every working day and put that in your savings or investment account.Example:You work 8 hours per dayYou take your hourly rate for 1 hour out of the 8 hoursYou put the first hour of payin your savings or investment accountSupport the showSubscribe To Weekly Newsletter:AI Unplugged
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