275: The Most Common (and Rarely Discussed) Money Mishaps w/ David Pere

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.5 • 3K Ratings

🗓️ 14 February 2022

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

Lifestyle creep, budget hesitancy, and cash scarcity are problems you’d likely hear from someone just getting into the realm of financial independence/literacy. But, funnily enough, these wealth woes aren’t coming from newbies—they’re coming from two asset-stacking veterans, Mindy Jensen and David Pere from The Military Millionaire Podcast. While on the outside David and Mindy may look like squeaky clean financial figures, they’ve realized recently that they have to tighten up their systems to maximize wealth. Mindy has seen a slow and steady lifestyle creep, and although her income can support her, she still wants to have a strong sense of strategy when it comes to budgeting and expense tracking. David has tried time and time again to budget, but it’s never really gone to plan. He also is feeling a bit stressed at times due to his “cash poor, asset rich” lifestyle that has allowed him to build so much wealth. Our two hosts serve as financial therapists for one another other in this episode as they dive deep into how each other can re-strategize their financial situations. Even the gurus don’t always get it right! In This Episode We Cover How to turn budget hesitancy into expense-tracking mastery Stocking up your emergency reserve so you (and your business) can survive life’s hiccups Entrepreneur income and why you should go lean on your business spending, without compromising quality Lifestyle/income creep and how to fight it so you can save and invest more Why everyone (even our money gurus) make mistakes from time to time And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the bigger packets money podcast show number two hundred and seventy five where David Paray and I chat about our
0:07.1	Financial imperfections if you're messing everything up
0:10.3	Or if you're messing little things up like if you're still going towards the goal if you're still making that progress
0:15.9	That's why I will religiously check my net worth
0:19.2	More than I do the budget because ultimately if that is continuing to go up and the cash flows continue to go up and the passive
0:25.4	Income is continuing to go up and all of that's moving in the right direction
0:28.1	If I'm off on my budget a little bit one month, it's not going to be the end of the world
0:32.9	Hello, hello. Hello. My name is Mindy Jensen and joining me today is David Paray from the military millionaire community
0:40.0	Cult where they help service members veterans and their families learn how to build wealth through real estate investing
0:46.1	Entrepreneurship and personal finance. Hey, wait a second. That sounds like our mantra
0:50.6	So he is kind of a money expert
0:53.0	David and I are here to make financial independence less scary less just for somebody else to introduce you to every money story
1:00.5	Because we truly believe that financial freedom is attainable for everyone no matter when or where you're starting
1:06.1	So whether you want to retire and early and travel the world or go on to make big-time investments and assets like real estate
1:12.3	Start your own business or just fix your financial imperfections
1:15.6	We will help you reach your goals and get money out of the way so that you can launch yourself towards your dreams. Okay
1:26.6	Before we get to the show let's hear a word from today's show sponsors
1:30.4	Everyone is wondering where the real estate market is headed. Well, how about a better question?
1:34.5	How do I make money in any market cycle?
1:36.9	As times change the fundamentals of real estate investing don't the secret to success for rental property investors is simple
1:43.5	Keep buying cash flowing rentals and rents of retirement can help
1:47.8	Rent of retirement offers fully turnkey properties that are newly built or renovated least and manage allowing you to invest with confidence in the markets that offer the best returns
	...

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