Money Psychology with the "BudgetDog" - E20
- Jan 28, 2024
- 35:54
- Full Episode
On Episode 20 of The Best Interest Podcast, we welcome Brennan Schlagbaum, the "Budgetdog"
We discuss:
- How "Budgetdog" started and how the 2008 financial crisis influenced Brennan's financial stance
- The infamous "mortgage vs. investing" debate
- Investing in yourself
Find Brennan:
Twitter: https://twitter.com/budgetdog_
Instagram: https://www.instagram.com/budgetdog/?hl=en
Find Jesse:
The Best Interest https://bestinterest.blog
Twitter: https://twitter.com/BestInterest_JC
Brief Summary
Brennan Schlagbaum shares his journey from $300K debt to financial freedom, emphasizing behavioral finance and personal values in money management.
Key points
- Welcome to the Best Interest Podcast. Join Jesse Kramer as he dives into personal finance and investing insights.
- The Importance of Tracking Finances. Jesse emphasizes that you can't manage what you don't measure.
- Brennan Schlagbaum's Journey. Brennan shares his story of overcoming $300,000 in debt and starting Budget Dog.
- Personal Finance is Personal. Brennan discusses how money is a tool for achieving life goals, not the end goal.
- The Mortgage Dilemma. Is keeping a mortgage worth it for $46,000? The speaker thinks not.
- Investing in Yourself. Investing in yourself can yield greater returns than traditional investments.
Episode highlights
- The Importance of Tracking FinancesJesse emphasizes that you can't manage what you don't measure.“You can't manage what you don't measure.”1:05Jan 28, 2024
- Brennan Schlagbaum's JourneyBrennan shares his story of overcoming $300,000 in debt and starting Budget Dog.3:37Jan 28, 2024
- Personal Finance is PersonalBrennan discusses how money is a tool for achieving life goals, not the end goal.“Money is a means to an end.”16:28Jan 28, 2024
- The Mortgage DilemmaIs keeping a mortgage worth it for $46,000? The speaker thinks not.“$46,000 is that really worth keeping a mortgage around?”18:30Jan 28, 2024
- Investing in YourselfInvesting in yourself can yield greater returns than traditional investments.“Your ROI on that money is going to be far greater than the stock market.”28:21Jan 28, 2024
- Health vs. WealthHealth is paramount; without it, money means nothing.“If I have a headache, I don’t care about my money.”32:15Jan 28, 2024
Tension
50/ 100Some tension
