Budget To FI

BudgetToFI
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The Budget to FI channel is where I summarize some of the best books pertaining to personal finance and financial independence. My goal is to condense this information into digestible bits and motivate you to take action on building your path toward financial freedom.

Episodes

  1. 03/17/2024

    Book Summary - Everyday Millionaires by Chris Hogan

    In this episode, we will be summarizing the book Everyday Millionaires by Chris Hogan.  This book will teach you that ordinary people are becoming millionaires. You’ll understand how these millionaires live on less than what they make, stay away from debt, invest, and most importantly, are disciplined. They’ve studied 10,000 U.S. millionaires and have summarized their best practices to achieve this. The backgrounds of these people are astonishing. They aren’t famous, did not come from wealth, but instead are your average joes.  What You’ll Learn: How these individuals became millionaires Living on less than what you earn Staying away from debt or eliminating it Remaining disciplined in their spending habits Everyday Millionaires Worksheet:Step 1: Build your budget (understand how much money is going into your account and how much money is going out): Step 2: After understanding your budget, save $1k in an emergency fund account (savings account). *Eventually build this to 3-4 months of expenses Step 3: Setup your 401k at your employer and create a Roth IRA if you haven’t yet. If your employer doesn’t offer this, then create your Roth IRA at an investment institution (Fidelity, Schwab, etc.). Automatically invest at least 15% into growth stock mutual funds (funds: VOO, VTSAX, FXAIX) of your monthly income into this retirement account. Step 4: Create a plan to begin paying off your debt (besides the mortgage): Step 5: Map out your retirement with goals. Use the RIQ tool on Dave Ramsey’s website. This will give you a goal of how much you should be investing each month to reach it. Step 6: Pay off your mortgage: Step 7: Live freely and give to charities.

  2. 03/04/2024

    Book Summary - One Rental At A Time: The Journey to Financial Independence Through Real Estate by Michael Zuber

    In this episode, we will be summarizing the book One Rental At A Time by Michael Zuber. This book will teach you how to buy and hold rental properties to create a second income that will eventually allow you to quit your daily job. What You’ll Learn: Michael and Olivia’s story on how they reached Financial Independence How to think as a rental property investor What not to do when buying properties Key Principles to stay on track Never giving up Worksheet Here!

  3. 02/17/2024

    Book Summary - Set For Life by Scott Trench

    In this episode, we will be summarizing the book Set For Life by Scott Trench. This book is a guide to helping individuals retire early from their nine-to-five and reach financial freedom with the advice from Scott Trench. In this summary, you'll learn the following key takeaways to set yourself up for a path to achieve financial freedom. Key Takeaways: Staying Frugal Building Reserves Buying a Property Making More Money Financial Freedom Investing Tracking Your Progress

    Book Summary - Set For Life by Scott Trench
  • 3 Episodes

About

The Budget to FI channel is where I summarize some of the best books pertaining to personal finance and financial independence. My goal is to condense this information into digestible bits and motivate you to take action on building your path toward financial freedom.

Information

  • Creator
    BudgetToFI
  • Years Active
    2024
  • Episodes
    3
  • Rating
    Clean
  • Copyright
    © BudgetToFI
  • Show Website
    Budget To FI