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The Jesse Mecham Show

308 - Taxes Tax Your Take Terribly

The Jesse Mecham Show

YNAB

Kids & Family, Education

4.71.1K Ratings

🗓️ 15 January 2018

⏱️ 4 minutes

🧾️ Download transcript

Summary

This is a PSA to remind you that taxes are your life's single biggest expense.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello, Wienabbers. My name is Jesse Meekham. This is podcast number 308 for

0:08.5

Wienab, where we teach you four rules to have you stop them paycheck to

0:11.4

paycheck, get out of debt and save more money.

0:14.9

Most people do not have an income problem, they have a spending problem, and when you look at

0:18.5

your spending problem you would say, oh I've got to cut back on eating out or I've got to cut back on entertainment or

0:24.9

whatever it may be but at this time of year you really ought to think about

0:30.7

your life's single largest expense, and it is not, it is not,

0:36.5

it is not your rent or your mortgage or the interest on your mortgage.

0:42.1

It is taxes. Unless you live in some crazy

0:45.2

situation that I have not yet discovered, your life's single biggest expense is

0:49.4

taxes and taxes take, your take, they take a good chunk of your take,

0:55.0

and a good chunk is all relative,

0:58.0

but for most everybody, taxes will be your single largest expense in absolute dollars and as a percentage.

1:06.0

Now when you're first starting out you're maybe not taxed terribly, but as you start to become

1:11.1

an income earner, Taxes become a larger and larger

1:14.6

percentage and also a larger pile of money absolutely. So you need to take them

1:19.2

seriously. You take taxes seriously. The best book that I found was written by my tax advisor and

1:26.2

it's called Tax Insight and it has fantastic strategies, really good strategies

1:32.1

and you just want to go to the book, go to the strategies, and

1:36.5

make sure you're doing those things.

1:38.8

It's not one of those situations where they're saying, hey, 1,001 ways to cut your taxes I mean come on

1:43.0

you know they'll start to tell you you should buy an SUV or a Hummer or something that's just

...

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