Published Aug 3, 2018

77: Feedback Friday | How to Build Good Financial Habits from the Ground Up

Hosts Jordan Harbinger and Jason DeFillippo delve into mastering social drinking, forging robust financial habits, tackling career transitions, and coping with emotional stress. They provide actionable advice on maintaining self-control, automating finances, overcoming nepotism, and the therapeutic value in healing past wounds.
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  • Financial Systems

    In the realm of financial advice, and emphasize the importance of establishing systems to automate savings and investments. They recommend Ramit Sethi's book, "I Will Teach You to Be Rich," which focuses on creating habits that simplify financial management. Jordan highlights the psychological aspect of spending, noting that stress often leads to overspending as a form of self-soothing.

    Spending gives a dopamine hit that you then crave.

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    By automating finances, individuals can avoid the pitfalls of impulsive spending and ensure consistent savings 1 2.

       

    Money Management

    Professional money handling can be a game-changer for those struggling with financial discipline. shares his experience with hiring a business manager and accountant to manage his finances, which helped him climb out of debt. He advises consulting an accountant to find reputable business managers, cautioning against hiring random individuals online.

    It's expensive because they take their cut from it, but it will get you back on track if you're in debt and trying to pay that down.

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    This approach can provide structure and accountability, ensuring bills are paid and spending is controlled 3.

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