White Coat Investor Podcast

WCI #167: You Need a Budget

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Jul 16, 2020
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ANECDOTE

Early Budgeting Beginnings

  • Jesse Mecham started budgeting at 14 by manually tracking his spending in a home spreadsheet.
  • Early awareness led him to naturally reduce discretionary spending over months.
ANECDOTE

From Accountant to Entrepreneur

  • Jesse worked 80 hours as an accountant but made more from his budgeting side project, You Need A Budget.
  • Ten months into accounting, he left to work full time on his entrepreneurial idea.
INSIGHT

Budgeting's Impact Scales with Income

  • High-income earners have more to gain from budgeting due to the power to direct large cash flows.
  • Intentional budgeting lets them channel their money towards bigger goals effectively.
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