E430 Finance Week Day 2 | Paying Yourself First

15 Minutes to Freedom

Ryan Niddel

Personal Journals, Motivational, Entrepreneurship, Business, Body, Meditation, Society & Culture, Relationships, Journal

3.6 • 1.5K Ratings

🗓️ 25 June 2019

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Perhaps the biggest mistake that people make when it comes to finances is that they don’t pay themselves first. We worry too much about the rat race of paying bills that we forget to take care of ourselves and our future. While I don’t claim to be a Fiduciary or a Financial Expert, I’m just here to share with you the strategies and mindset I’ve used to dig myself out of the hole of bankruptcy. The point is if we don’t put ourselves first, we won’t be able to grow on our financial journey because we’re always prioritizing the needs of other people. Join me today to learn why taxing yourself first is the most effective thing you can do to stabilize your financial future.

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Transcript

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0:00.0	The This is 15 minutes of freedom.
0:16.4	This is 15 minutes of freedom.
0:18.2	I'm your host elite life optimization coach Ryan Nidell
0:20.8	and today is day two in the Quadrant of Life referred to as finances.
0:27.0	So yesterday we covered high-level, I'm going to say creating an internal balance sheet for your life.
0:34.2	Auditing exactly what it is that you have going on fiscally so that you can make more responsible
0:40.1	decisions.
0:42.1	i.e. another way to say this is we got really clear on the facts of your life.
0:47.4	We got clear on how much you're spending.
0:50.3	We got clear on how much you have in the bank. We got clear on exactly how much you're making and then we added 20% to the expense structure of your life.
1:00.0	To make certain you had room.
1:03.0	Room for the things that come up that we don't plan on.
1:07.0	When the dog gets sick,
1:10.0	when you have an unplanned medical expense,
1:12.0	when your car needs repaired,
1:15.0	a budget budget budget.
1:18.0	But what we didn't cover yesterday
1:22.0	was something I referred to as paying yourself first.
1:27.0	Nowhere on yesterday's podcast. Do we discuss what that really means?
1:35.0	And so that's what today is, paying yourself first.
1:38.0	Because what I've found is, typically typically we think of all the people that we have to pay prior to ourselves.
1:48.0	But I'm guilty of expressing that to yesterday.
	...

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