The power of focus
Tyler has a breakthrough in saving for his true expenses, and it's about more than just rearranging the financial deck chairs.
What are the benefits of focusing on one goal at a time? Why do high net worth individuals still benefit from budgeting? And why does Steve allocate some of his "fun money" to an emergency fund?
Links:
What are the benefits of focusing on one goal at a time? Why do high net worth individuals still benefit from budgeting? And why does Steve allocate some of his "fun money" to an emergency fund?
- (00:00) - Dog talk
- (03:06) - Too many goals
- (06:44) - Doubling down on an emergency fund
- (11:41) - A reverse debt snowball
- (14:32) - Steve's fun money emergency fund
- (16:46) - A tool for understanding opportunity costs
Links:
- Our episode about Dave Ramsey's "The Total Money Makeover": https://notaboutmoney.com/episodes/book-club-total-money-makeover
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