agentXcel with Chris Bowers 102. Profit First - How to Build a Blueprint to Handle Your Commissions Properly
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May 26, 2024 Returning guest Dave Zajdzinski discusses the concept of profit first, separating personal and business finances, managing commissions for short and long-term goals, emotional aspects of financial management, financial harmony in relationships, guidance on financial education and debt management, and implementing profit first methodology in real estate. The podcast explores the correlation between rules and freedom in life.
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Profit First
- Prioritize profit by taking it first, then paying bills.
- This reverses the common practice of paying bills first and then taking leftover profit.
Separate Finances
- Separate business and personal finances.
- Create distinct accounts and treat business bills separately from personal ones.
Family Financial Habits
- Dave Zajdzinski reflects on his personal relationship with money, influenced by his family's financial habits.
- He acknowledges his tendency to overspend, learned from his father's approach to providing a better life.