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Money Guy Show

3 Things You Use Everyday That Are Costing you THOUSANDS!

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 22 October 2021

⏱️ 50 minutes

🧾️ Download transcript

Summary

Don't let compounding interest work AGAINST you! This episode is full of examples showing how small shifts in your thinking about everyday, necessary purchases can have powerful results. Whether it's your Netflix subscription or your mortgage, we'll show you how to assess which changes you should make to your spending habits to get the most out of your army of dollar bills while still enjoying your life. Check out our website for more information. Subscribe on YouTube! Download FREE Financial Resources from the show Sign up for our Financial Order of Operations course Let’s make sure you’re on the path to financial success - then help you stay there! The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW! Visit our site for more info. Instagram Twitter Facebook TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Three things you use every day and they're costing you thousands.

0:05.0

It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,

0:12.2

investing, taxes.

0:14.3

You've got financial questions, he's got financial answers.

0:17.9

It's Brian Preston, the money guy.

0:20.5

Yeah, Brian, I'm super excited about this show because this is one of the things I think

0:26.1

this is what I like to call sort of an eye opening show, right?

0:29.4

You don't recognize oftentimes how impactful the consumption decisions you make, whether

0:35.4

they're small consumption decisions or big consumption decisions, how impactful they can

0:39.9

be over the long term.

0:40.9

So we want to unpack that around sort of three common things that folks spend money

0:45.7

on every day.

0:46.7

Yeah, everybody knows we're army of dollar bills folks, meaning that we really focus

0:51.6

on the value of every dollar that you get to lead and make decisions on.

0:58.4

And we focus a lot because the deliverables like if you look at the money multiplier that

1:04.8

we have, I think a lot of times since we are wealth managers and we're helping you build

1:10.1

wealth, we talk about what each dollar has the potential to become if you invest it.

1:16.0

That's right.

1:17.0

But realize every time a dollar comes into your leadership, you have an incremental decision.

1:24.8

Do you spend in consumer or do you invest it?

1:28.6

And we focus a lot on the investing, but there's also the opportunity cost of every dollar

1:33.8

you consume with your life of what it could become.

...

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