Resolutions, Money and your first 2017 CoHost:
On This Episode You Will Hear:
- [01:32] A quick recap on who Whitney Hansen is
- [02:19] What people are freaking out about this new year. We all want and make the same goals in the New Year, Lose weight and get our financials in order.
- [02:50] New Year resolutions. 75% of people who set New Year’s resolutions give up within the first 30 days. People don’t spend enough time on who they are and what make’s them tick, and function every single day. It is something that is key to health and finance.
- [04:39] Profit First. Taking Action. In the fall of 2016 Whitney started teaching personal finance at a College level. Whitney creates little money dates with herself to check in on how her finances are doing. That weekly check-in allows you to align yourself with your finances.
- [07:36] Whitney would go through the past 30 days of your Credit Cards and your Bank accounts and start to group together common spending habits and remove spending that doesn’t align with your goals and your expenses. Reallocating the funds to the right domains in your life.
- [11:09] Budgeting and saving for a trip to Italy. Booking trips with Google Flights. Setting up a saving’s account for just travel.
- [12:53] If there are important things in your life you want to pay for, set up an account and have your money automatically transferred to your account. Even if it is only 2% or 3%. Cut out what does not matter to you and reallocate it to other areas of your life.
- [14:52] Prioritization. It is really easy to get distracted.
- [16:41] Digit and other apps
- [18:56] The power of your success is down to the power of your network. Also discussing using tax refunds properly
- [21:56] Are we really tracking our budgets? Take your tax refund and put it towards your goals. Taxes and ROTH IRA’s
- [26:53] Emergency funds and added expenses funds.
- [29:04] Become more self-aware with money. Track every expense for the next 30 days.
- [30:40] Challenge people to achieve to boost the income by a dollar amount or by a percentage amount
- [43:13] Conferences. Getting out there and growing your network
- [47:35] Final Words
Links and Resources
- Whitney Hansen’s Website
- Whitney on Instagram
- Whitney on Twitter
- The Money Nerds Podcast
- Whitney’s Previous Episode
- Profit First
Be more intentional. You can do anything in the world that you want. But you can’t have everything. Your savings are important. Look at your expenses, does what your spending align with your values and goals? If it doesn’t start to make a few tweaks so that it does.
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