October 11, 2017

[Ep. 120] This Is Why You Should Track Your Spending

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For this Listener Series episode of the podcast, I chat with Scott McEachern who reached out to me to be on the show after being a long-time listener.

Now, Scott actually works in the financial space, but personal finance is really his passion and it’s what led him to do what he does for a living. A big reason is that his dad worked as a financial planner, so he learned at a young age how to be smart with his money.

And ever since then, he’s put what he’s learned into practice to live a meaningful life that focuses on being intentional with his money.

He shares a number of things he and his wife do to be able to pay off their debt (they have student loans) and work towards affording their financial goals. These things include:

  • Adding small extra payments to his student loans to pay them off quicker
  • Buying used cars instead of brand new
  • Renting a cheaper/smaller place instead of trying to keep up with the Jones’
  • Delaying starting a family until they are debt free
  • And most importantly, tracking their spending and income regularly so there are no surprises

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