170: Finance Friday: Trading Debt for Cash Flow and Liquidity with Teacher Erik
BiggerPockets Money Podcast
BiggerPockets
4.5 • 3K Ratings
🗓️ 12 February 2021
⏱️ 78 minutes
🔗️ Recording | iTunes | RSS
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| 0:00.0 | Welcome to the Bigger Pockets Money Podcast, show number 170, Finance Friday edition, |
| 0:05.3 | where we interview Eric and talk about capital allocation, how he manages his cash, debts, and assets. |
| 0:12.1 | We started listening to Bigger Pockets money and we love the idea of the monthly money meeting. |
| 0:17.5 | And so we started doing that a couple months ago and I'm kind of the one that does most of the finances in the family and we've been okay. |
| 0:23.8 | And my wife's been okay with that too. |
| 0:25.9 | But we sat down and we started working on it and it really does make you feel better |
| 0:31.4 | having that chat every month and so right on. So thank you guys too for mentioning that over and over again. |
| 0:38.1 | Hello, hello, hello, my name is Mindy Jensen and with me as always is my punny co-host, Scott Trunch. |
| 0:45.2 | These intros are just punishing Mindy. Punishing. All right. |
| 0:48.8 | So are your puns. Scott and I are here to make financial independence less scary, less just for somebody else, to introduce you to every money story because we truly believe financial freedom is attainable for everyone no matter when or where you're starting. |
| 1:05.8 | That's right, whether you want to retire early and travel the world, go on to make big time investments and assets like real estate, start your own business, or consider what we call a capital allocation and you just mentioned. |
| 1:16.2 | We'll help you reach your financial goals and get money out of the way so that you can launch yourself towards your dreams. |
| 1:24.7 | You know, Scott, I'm having such a good time talking to listeners about their finances and I'm finding myself recommending things outside of my normal recommendations, which shows me in real time that personal finance truly is personal. |
| 1:36.1 | Yeah, this has been amazing. I've learned so much in these past, I think this is our seventh finance review, six or seven. |
| 1:43.3 | And it's just amazing at how different the stories have been. Oh, we really have too much for you to do the most things pretty well here. You're a millionaire. |
| 1:51.9 | You got to reset and rethink how you're spending your time because you're getting paid too little relative to how much you're worth to today's episode where, hey, man, we're doing all the right things, but we're treading water because the way that we're managing our debts and assets. |
| 2:05.6 | I mean, what an interesting set of different challenges, wildly different personal finance challenges, all from people who get it and are thinking about their financial positions, but I still struggle it with mapping out a strategy and plan and those types of things. |
| 2:19.6 | And I just think, I'm just so proud to be a part of your team here working on this. |
| 2:24.1 | The tag team has gotten Mindy because I think together we're learning a lot here and I think this is going to be really helpful for a lot of people. |
| 2:30.4 | I'm excited about finance Friday. |
| 2:31.8 | I'm super excited about finance Friday because I am now rethinking how I'm doing some things based on what other people are doing. |
| 2:40.4 | So I hope that people who are listening are finding just as much value as I am and I do appreciate you acknowledging that it's my team, not yours. |
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