WCI #167: You Need a Budget
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.9 • 2.3K Ratings
🗓️ 16 July 2020
⏱️ 52 minutes
🧾️ Download transcript
Summary
You need a budget. Even for a high income earner a budget is a necessary tool. The higher your income, the simpler your budget might be. But the potential for positive impact is so much higher with a higher income. You want to be extremely intentional with your money because it can be really powerful. In this episode I interview Jesse Mecham, the founder of You Need a Budget, We talk about the budgeting philosophy behind the software and the four rules of budgeting. Some people might say the budgeting is just common sense, but yet so many people don't seem to be able to figure it out without some kind of help from an app like YNAB. They think that budgeting means dieting and it doesn't. It just means planning. They think budgeting means restriction, about spending less. Jesse tells us budgeting means you should spend guilt less. Enjoy this interview with a successful entrepreneur. Hopefully you will be inspired to get a budget in place!
Did you know that the White Coat Investor not only has a podcast and a blog but several books that will help you on your way to financial independence. These books cover topics such as asset protection and minimizing your taxes to keep more of your hard earned money. They discuss plans for insurance, housing, spending, student loan elimination, investing and estate planning. You can learn how to become a millionaire within 5-10 years of leaving residency and how to invest in a sensible low cost and effective manner with or without the assistance of a financial advisor. There is even a book geared directly toward medical and dental students so you can start optimizing your finances early in your professional journey. Find the book that is right for you at the WCI store at https://www.shop.whitecoatinvestor.com or on Amazon. You can do this and The White Coat Investor can help.
The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!
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Transcript
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| 0:00.0 | This is the White Coat Investor Podcast, where we help those who wear the white coat get a fair shake on Wall Street. |
| 0:06.0 | We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011. |
| 0:12.0 | Here is your host, Dr. Jim Dolly. |
| 0:15.0 | This is White Coat Investor Podcast |
| 0:20.0 | number 167. You need a budget. |
| 0:22.0 | We're recording this, let's see, it's now July 7th. |
| 0:25.5 | This is going to be running on July 16th, so welcome back. It's always nice to have a short |
| 0:31.3 | interval in between the time we record and the time you'll start listening to this. |
| 0:35.0 | It helps us be a little bit more current. I think some of you have noticed in the past when we got a little further away, |
| 0:40.0 | a little more space between our recording date and the date it runs. |
| 0:44.1 | You can especially notice that in times of rapid social, medical, or economic change. |
| 0:50.6 | But we're trying to record a little bit closer to the time these go live. |
| 0:54.0 | Did you know that the White Code Investor not only has a podcast and a blog, but several books that will help you on your way to financial independence. |
| 1:02.0 | These books cover topics such as asset |
| 1:03.9 | protection and minimizing your taxes to keep more of your hard-earned money. |
| 1:07.2 | They discuss plans for insurance, housing, spending, student loan |
| 1:11.1 | elimination, investing, and estate planning. |
| 1:14.0 | You can learn how to become a millionaire within five to ten years of leaving residency |
| 1:18.0 | and how to invest in a sensible low-cost and effective manner with or without the assistance of a financial advisor. |
| 1:24.0 | There's even a book geared directly toward medical and dental students so you can start |
| 1:27.5 | optimizing your finances early in your professional journey. |
| 1:30.9 | Find the book that is right for you at the WCI store at shop. |
... |
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