JW's Financial Coaching Podcast Lesson #12 Do rich people really need to budget if they are frugal?
Highlights of today's show: Brent Pittman joins us to discuss; if you are rich and frugal do you need to budget? How do you know if you are really rich or wealthy? Can you become wealthy without budgeting? What you could be missing out on by not budgeting? What budgeting has meant to us Brent Pittman from OnTargetCoach.com joins us to discuss a question he asked himself on one of his blog posts. The question was "Do rich people really need to budget if they spend frugally?" Brent and I attempt that answer that question by sharing why we both budget, what are some things you miss out on by not budgeting (which are not all financial) how budgeting could benefit a frugal wealthy person, and finally we share what budgeting has meant to us. Also we discuss what makes someone "rich" or "wealthy." Is it having no debt? Having a six figure income? A million dollars in the bank? Brent and I discuss what being wealthy means to us and share why there really should never be a point where you don't have to manage your finances. In addition, if you didn't see it on the blog, my wife and I just paid cash for our recent car purchase! I say this not to brag, but to encourage you that yes, you can pay for a car with cash and it is possible to live without a car payment. The feeling of being able to write the check and not have to worry about putting an extra line item in our budget for the payment is great. Finally, I'll be doing a webinar titled "YOUR Economy" on Tuesday, November 6th at 9:00 PM EST. Yes, that is election night, but this webinar is not political in nature. Instead we will be focusing on ways to improve YOUR economy not only with your finances, but with your career as well. The webinar itself will be 30 minutes in length and we will have a 15 minute Q&A afterwards. Please plan on attending. You can subscribe to future Podcasts through Feedburner, Stitcher SmartRadio, or iTunes. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page. In addition, if you have enjoyed the show for a while now, please leave a review of the podcast on iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes. Big thanks to my friend Glen Steinson for helping me create the video. If you have any comments, questions, or ideas for future shows you can send them to me and I will integrate them into a future show. There are two ways to get in touch with me: 1.) Email me at JWFinancialcoaching@gmail.com - Please put “podcast” in the subject line and keep your questions brief so they are readable on air. 2.) Simply fill out the form on the contact page. Please fill out your name, email, and your question/comment/suggestion and we will read it on air. You can find prior editions of the podcast at the podcast archive page.view more
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