Money On My Mind

Brennan Schlagbaum
  • 4.8 (37)
  • Investing
  • Updated Weekly

From $300k+ in debt to Millionaire status by 30 years old, I have realized the power of a budget. At 23, I was in a dreadful position, but I knew that the only person that could change that was ME! I dug deep and put together a financial plan that changed my life forever. Now I am debt free and just quit my 9-5 to pursue Budgetdog full time! I made this podcast to empower others with the same knowledge and tools that I use in my own personal finances!

  1. 4d ago

    Stop Chasing Gold: The Investment Advice You Actually Need

    Where you put your money depends on what you're trying to accomplish. In this episode of The Budgetdog Breakdown, Brendan answers listener questions about saving for a newborn, quarterly taxes for freelancers, round-up investing apps, saving for a house, bond ladders, and investing in gold. The conversation explores the differences between 529s and UPMAs, why financial goals should determine where you allocate your money, and why short-term goals require a different approach to risk than long-term investing. Brendan also explains why simple strategies can sometimes make more sense than chasing higher returns, especially when the money is needed within a few years. The episode closes with a discussion about gold, commodities, and the risks of making investment decisions based on what everyone else is doing. Money isn't just about maximizing returns. It's about making the right decision for your goals and timeline. Episode Timeline and Highlights 00:00 Why wealthy people use systems 00:18 Saving for a newborn: 529 vs. UPMA 01:44 Allocating money toward children's goals 02:18 Understanding quarterly taxes as a freelancer 03:49 Do round-up investing apps actually work? 04:51 Saving for a house in three years 05:07 Understanding bond ladders 06:04 Risk vs. return for short-term goals 06:33 Should you invest in gold? 07:16 Gold and silver promotions 07:51 Why following the crowd can hurt your investments 08:28 Final thoughts Key Takeaways • Your financial goals should determine where you put your money • 529s and UPMAs serve different purposes • Freelancers need to understand their tax obligations • Small automated contributions don't replace intentional planning • Short-term goals require careful attention to risk • A three-year goal may call for a different strategy than retirement investing • Gold is a commodity and shouldn't automatically be treated as a retirement solution • Investment decisions shouldn't be based solely on what everyone else is doing • Simple financial strategies can sometimes be more appropriate than complicated ones Quotables "Every account has a purpose or has an advantage or a pro and con." "You have to be super intentional." "I would rather you have that money at the end of this three years than trying to beat the market." "Nobody knows the future." The goal isn't to find the investment everyone is talking about. It's to understand what your money needs to accomplish—and build your strategy around that.

  2. Sep 16

    The Real Reason You Still Feel Broke Even When You Earn More

    Making more money doesn't always create a greater sense of financial security. In this episode of The Budgetdog Breakdown, Brendan answers real listener questions about teaching children financial literacy, investing without emotion, achieving financial independence, and why people can earn significantly more money than their parents while still feeling financially behind. The conversation explores why financial education needs to become part of everyday family life, how parents can teach children about money through simple conversations, and why financial confidence comes from education and repeated small wins rather than trying to have one perfect conversation. Brendan also discusses why investing should be boring, how automation can remove emotional decision-making, and why constantly checking your portfolio can lead to poor financial behavior. The episode also explores the idea of retiring at 40 and the importance of changing your beliefs and systems before expecting different financial results. Finally, Brendan breaks down why earning more doesn't necessarily mean feeling richer, discussing inflation, purchasing power, and the importance of turning active income into investments and assets. Money isn't just about how much you earn. It's about what you do with it. Episode Timeline and Highlights 00:00 Why wealthy people rely on systems 00:18 Teaching kids about money 03:26 Making financial education part of your family culture 04:21 Taking ownership of your financial education 05:21 Teaching children about ownership and investing 06:39 Why investing should be boring 08:04 Automating your financial system 09:25 Is FIRE at 40 actually realistic? 10:34 Beliefs, identity, environment, and systems 11:57 Building confidence through micro-wins 13:10 Checking your investments too often 14:03 Why emotional investing can hurt your results 14:58 What happens when the market drops 16:37 Why earning more can still leave you feeling broke 17:27 Inflation and the money supply 19:03 Why owning assets matters 20:09 Turning income into investments Key Takeaways • Financial education should become part of everyday life • Parents need to educate themselves before teaching their children • Investing doesn't need to be exciting to be effective • Automation can reduce emotional financial decisions • Constantly checking investments can encourage reactive behavior • Small wins can build confidence over time • Financial independence requires changing both behavior and systems • Higher income doesn't automatically create greater purchasing power • Inflation can reduce the value of money held in cash • Turning active income into assets can help build long-term wealth Quotables "Financial education starts with you, not your ten-year-old." "The game of money and the game of wealth is boring." "If you can prove to yourself that you're going to do what you say you're going to do, you'll build micro confidence." "Your financial future isn't determined by where you are today. It's determined by the system you build from this point forward." The goal isn't to make money exciting. It's to build a system that works whether you're excited, scared, or completely uninterested.

  3. Sep 9

    The "Boring" Investment Strategy That Could Make You Rich.

    Episode Description Many people believe successful investing means finding the next big opportunity. The reality is that chasing what's popular can make building wealth much harder. In this episode of The Budgetdog Breakdown, I answer real listener questions about the Mega Backdoor Roth, simplifying investment portfolios, inheriting an IRA, dividend investing, whole life insurance, selling investments, and the growing hype around AI and tech ETFs. We discuss why more funds don't necessarily mean better diversification, why chasing dividend yield can create unnecessary tax drag, why certain insurance products may be suboptimal, and why trying to time hot investments can lead to emotional decisions. Building wealth isn't about being exciting. It's about being consistent. Episode Timeline and Highlights 00:00 Why wealthy people rely on systems 00:18 Understanding the Mega Backdoor Roth 04:50 Is your portfolio too complicated? 06:02 Inheriting an IRA 07:40 Dividend stocks vs. total return 10:32 The problem with whole life insurance 12:14 When should you sell your investments? 13:44 The truth about AI and tech ETFs 17:12 Final thoughts Key Takeaways • Tax-advantaged accounts can create significant opportunities for long-term investors • More funds don't necessarily create better diversification • Inherited retirement accounts require careful planning • Total return matters more than chasing dividend yield • Permanent life insurance isn't right for everyone • You don't need to sell investments just because the market moves • FOMO is a dangerous reason to make investment decisions • Simple strategies can outperform complicated ones over time Quotables "Wealthy people aren't wealthy because they win every day. They use systems that make losing hard." "More funds are not always worse. But you're definitely overcomplicating this." "You're not missing anything. You're being smart." "I want to get rich forever and not get rich quick and temporarily." The goal isn't to find the next investment that explodes. It's to build a strategy that works long enough for you to actually become wealthy.

  4. Sep 2

    5 Money Questions You Need to Answer to Build Wealth

    Many people believe making more money will automatically solve their financial problems. The reality is that without understanding your cash flow, more income can simply mean more opportunities to spend. In this episode of The Budgetdog Breakdown, I answer real listener questions about avoiding payday loans, figuring out how much to invest, managing U.S. investments while living abroad, cutting unnecessary subscriptions, and talking about money while dating. We discuss why cash flow is the foundation of your financial plan, how to prioritize your investment goals, why small recurring expenses can add up, and why money conversations are an important part of building a relationship. Money isn't just about income. It's about what you do with it. Episode Timeline and Highlights 00:00 Why wealthy people rely on systems 00:18 How to avoid payday loans 01:55 How much should you invest every month? 05:12 Moving abroad with U.S. investments 05:47 Auditing your subscriptions 06:32 Talking about money while dating 07:37 Final thoughts Key Takeaways • Understanding cash flow can prevent unnecessary debt • 15% of gross income can be a useful investing benchmark • Your financial goals should determine your investment priorities • Moving abroad doesn't necessarily mean starting over financially • Small recurring expenses can quietly hurt your cash flow • Money conversations should happen naturally but shouldn't be avoided • Financial systems create consistency Quotables "Wealthy people aren't wealthy because they win every day. They use systems that make losing hard." "The payday loan was the result. The actual issue was not understanding your cash flow." "Money isn't just about income. It's about what you do with it." "There's no reason you should be rushing to have the conversation, but you shouldn't run away from it either." Financial progress doesn't start with making more money. It starts with understanding the money you already have.

  5. Aug 26

    You Have Enough Money… So Why Do You Still Feel Broke?

    Many people believe that having more money will finally make them feel financially secure. The reality is that there may never be a number that feels like enough. In this episode of The Budgetdog Breakdown, I answer real listener questions about paying off credit card debt, investing a large inheritance, helping adult children without spoiling them, charitable giving, and the deeper psychology behind feeling broke even when you have plenty saved. We discuss why using retirement accounts to eliminate debt can be costly, how to approach investing a lump sum, when a donor-advised fund makes sense, and why defining your "enough number" can be more important than simply accumulating more money. Money isn't just about the amount in your account. It's about how you think about it. Episode Timeline and Highlights 00:00 Why wealthy people rely on systems 00:22 Should you use your 401(k) to pay off debt? 02:01 Investing a $50K inheritance 04:06 Giving money to your adult children 05:41 Is a donor-advised fund worth it? 08:01 Why you still feel broke when you have enough 10:27 Final thoughts Key Takeaways • Don't sacrifice long-term retirement savings to eliminate short-term debt • Your investment strategy should account for your behavior • Financial gifts should reinforce values, not dependency • Donor-advised funds aren't necessary for every charitable giver • Defining your "enough number" can create financial clarity • More money won't fix an unhealthy relationship with money Quotables "Wealthy people aren't wealthy because they win every day. They use systems that make losing hard." "No number will ever make you feel better if you don't define what enough is." "Your investment strategy has to account for who you are as a person." "Money isn't just about the amount. It's about how you think about it." You can spend your entire life moving the goalpost. Or you can define what enough looks like and build a financial life that gives you the freedom to enjoy it.

  6. Aug 19

    Stop Chasing Money: What Actually Builds Wealth

    Many people believe building wealth means optimizing every dollar. The reality is that not every financial decision deserves your time and energy. In this episode of The Budgetdog Breakdown, I answer real listener questions about moving for a lower cost of living, planning for final expenses, managing inherited investments, credit card rewards, and deciding whether crypto belongs in your portfolio. We discuss why money shouldn't dictate your life, how to think about the value behind inherited assets, why chasing credit card points can be a distraction, and how the mindset behind an investment can matter more than the investment itself. Money isn't just about math. It's about where you choose to focus your time, energy, and attention. Episode Timeline and Highlights 00:00 Why wealthy people rely on systems 00:18 Should you move for a higher savings rate? 02:34 Planning for final expenses 03:42 What to do with inherited stocks 05:08 The truth about credit card points 08:28 Are you missing out on crypto? 10:10 Final thoughts Key Takeaways • Don't let money dictate every major life decision • Financial planning can create flexibility without uprooting your life • Inherited assets should be evaluated based on their value, not just their history • Credit card rewards aren't worth it if they encourage unnecessary spending • Your time and earning power are valuable financial assets • Long-term investing beats chasing quick returns • The mindset behind an investment matters Quotables "Wealthy people aren't wealthy because they win every day. They use systems that make losing hard." "Don't let your money dictate your life." "Your time on this earth is limited, and your energy is finite." "You're not missing anything. You're being smart." The goal isn't to win every financial game. It's to spend your time and money on the things that actually move you forward.

  7. Aug 12

    Life Insurance Isn't Enough: The Financial Protection Most People Forget

    Many people think financial planning is mostly about investing and saving money. The reality is that some of the biggest financial decisions happen before you ever invest a dollar. In this episode of The Budgetdog Breakdown, I answer real listener questions about protecting your income with disability insurance, combining finances before marriage, understanding the backdoor Roth IRA, deciding whether to pay off your car early, and determining how much a wedding should really cost. We discuss why protecting your ability to earn is so important, how couples can create a shared financial system, why the backdoor Roth isn't as complicated as it sounds, and how to think about debt versus investing. Money isn't just about math. It's about making decisions that protect your family and align with what you actually value. Episode Timeline and Highlights 00:00 Why wealthy people rely on systems 00:18 The insurance most people forget 01:25 Combining finances before marriage 03:52 Understanding the backdoor Roth IRA 05:41 Paying off your car vs. investing 07:32 How much should a wedding cost? 09:39 Final thoughts Key Takeaways • Protecting your income is just as important as protecting your life • Financial transparency is essential in marriage • A backdoor Roth IRA is a legal strategy for accessing Roth contributions when income limits apply • Paying off debt provides a guaranteed return equal to the interest avoided • Major purchases should reflect your values, not social pressure • Financial systems make difficult decisions easier Quotables "Wealthy people aren't wealthy because they win every day. They use systems that make losing hard." "Protect your family in every single potential scenario." "Money isn't just about math. It's about behavior." "Are you doing what is right for you, or are you just keeping up with the Joneses?" The goal isn't to make every financial decision perfectly. It's to build a system that protects your family, supports your goals, and lets you spend your money intentionally.

  8. Aug 5

    College or Retirement First? How to Make Smarter Financial Decisions

    Many people believe building wealth is about making the perfect financial decision. The reality is it's about making the right decisions in the right order. In this episode of The Budgetdog Breakdown, I answer real listener questions about saving for college, prioritizing retirement, budgeting with unpredictable income, buying a home while investing, and overcoming the trap of comparing your finances to everyone else's. We discuss why retirement should usually come before college savings, how self-employed individuals can build a reliable budget, why financial comparison is one of the biggest wealth killers, and how creating simple systems makes every financial decision easier. Money isn't just about math. It's about priorities. Episode Timeline and Highlights 00:00 Why wealthy people rely on systems 00:19 College savings vs. retirement 06:07 Budgeting with variable income 09:37 Buying a home while investing 11:17 Escaping the comparison trap 14:28 Why retirement usually comes first 17:07 Final thoughts Key Takeaways • Retirement should usually be prioritized before college savings • Variable income can still be managed with a system • Financial comparison creates unnecessary stress • Clear priorities make difficult decisions easier • Planning beats guessing • Wealth is built through consistency, not perfection Quotables "Wealthy people aren't wealthy because they win every day. They use systems that make losing hard." "Your financial plan should reflect your priorities—not your emotions." "The only person you should compare yourself to is who you were yesterday." Your financial future isn't determined by having perfect timing. It's determined by building a system that supports your goals.

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4.8
out of 5
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About

From $300k+ in debt to Millionaire status by 30 years old, I have realized the power of a budget. At 23, I was in a dreadful position, but I knew that the only person that could change that was ME! I dug deep and put together a financial plan that changed my life forever. Now I am debt free and just quit my 9-5 to pursue Budgetdog full time! I made this podcast to empower others with the same knowledge and tools that I use in my own personal finances!

Information

  • Creator
    Brennan Schlagbaum
  • Years Active
    2024 - 2026
  • Episodes
    131
  • Rating
    Clean
  • Copyright
    © 2024
  • Show Website
    Money On My Mind

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