Your Fitness Money Coach Podcast - Helping Gym Owners Build Profitable Businesses

Today we are addressing the issue of whether to pay off the house or not. It's an age-old debate in the financial world. On one hand, it seems foolish to pay down the mortgage faster than you have to, especially if you could invest the money and make more than the interest you're paying. It goes something like this. "Why would I pay down my 3% loan if I could take that same money and make much more? Heck, I could even put it in a simple index fund and make 8-10%." That isn't a terrible point but I'm here today to give you a different perspective. There is, as is often the case, more to the story than just some quick math. I think I have a fair perspective as I just paid off my mortgage. Listen in to hear how I came to the decision to do so and some solid arguments for getting the mortgage monkey off your back! Finally, listen to discover how to turn anxiety into excitement! Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. Can we hop on a short call? I'd love to learn more about you! Book a short call with me here!

Since we've moved to a new area, one of my favorite things to do is ask people how they like it. I am so fascinated by the different responses. After talking to lots of people, here's my conclusion. Maybe not one hundred percent but most of the ones that love it would probably be happy wherever they lived and most of the ones who hate it would be miserable anywhere. I believe our perception of our situation is more important than the actual circumstance. This explains why 2 people can go through the same "negative" experience and one uses it as an excuse and the other as a launchpad. Of course, we all struggle with perspective sometimes and this is easier said than done. Tune it to today's show to see how our perspective can be the limiting factor in finding money, business, and life success. Nobody, including (especially) me has everything dialed in. Focus on gradual improvement. Success takes time. Finally, listen to discover how to turn anxiety into excitement! Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. Can we hop on a short call? I'd love to learn more about you! Book a short call with me here!

We've all heard the financial experts tell us, "You need 3-6 months living/business expenses set aside." While I don't disagree with this advice, there is more to the picture. For starters, based on your current budget, how much would 3-6 months be? In today's show, learn step-by-step how to determine what your 3-6 month fund might look like as well as how things would look if there were an actual disaster. There is no better example than I can think of what a "disaster" could look like from a global standpoint than Covid-19. While this pandemic put a lot of fit pros out of business, a minority actual came out ahead. If there is one thing we are guaranteed in life, even according to scripture, it's that we will have trouble. Nobody can escape it. Remember the 5Ps? Proper planning prevents poor performance. Learn how to get yourself into a position that when the next challenge comes, at least financially you'll have much less stress. You'll also discover what building up your reserves looks like as well as how to handle it if you are married. Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. If you or someone you know is looking for a plan to dial in your finances and achieve some financial freedom book a short call with me here!

We often overcomplicate things, try to track everything, and end up either tracking nothing or not changing anything as a result of what we're tracking. The best way to move forward is with a simple step. This episode is that step. The "5 Numbers Every Fit Pro Needs to Track" will break down each number you need to track, what it means, how to track, and how often to measure it. I also have a really cool 1 pager with all of the bullets you need to know. Download it here and hang it by your desk! Remember, fundamentals win games! Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. If you or someone you know is looking for a plan to dial in your finances and achieve some financial freedom book a short call with me here!

Since I just experienced what was arguably the biggest transition of my life, moving my entire family to a completely different part of the country, I felt qualified to give some insight. While we certainly can't always plan for what will happen in our lives, there are definitely things we can do to help us better prepare when they arise. You may not be making a big physical move. However, you may be experiencing some other big change or transition in your life. If everything is rainbows and unicorns for you, enjoy it, and now that that change is inevitable. Listen in as I share 2 of the things that I focused on through the transition which I believed made a very positive difference. I had knots in my stomach and it wasn't easy but again, I think controlling the things I was able to made a tremendous difference. I hope they serve as hope and inspiration for you! Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. I'd love to connect with you for a few to see what you have going on. Book a short call with me here!

It's been a long time coming but I was excited to have Kelli Calabrese come on the show. Kelli has a tremendous amount of experience both in the fitness industry and in life. She's been a leader in the industry for decades and is one of the rare few who have found massive success with multi-level marketing. None of those are the reasons why I wanted to have her on though. The primary reason is that 5 years ago she went through a devastating divorce. Like many, most, or all this wasn't part of her plan. It was a tremendous amount of work but she has truly come out better on the other side and is now helping others struggling with grief, fear, and stress. One of the challenges of divorce or any big life event is the impact on finances. Kelli shares practical advice to help the difficult transition. One of the biggest takeaways from our conversation was how to get anything you want and what will ensure that you don't get what you want. Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Connect with Kelli: · www.Kellicalabrese.com · Social @Kellicalabrese Your Financial Coach, Billy P.S. I'd love to connect with you for a few to see what you have going on. Book a short call with me here!

I was recently interviewed by Dustin Bogle of Gym Reinforcements. Honestly, I've lost count of how many podcasts I've been on but this was one of my favorite interviews. That show will drop in early April most likely and I'll certainly share it when it does. For now, I recorded a short episode where I cover the 3 most common Financial Mistakes Fit Pros Make. Here is my advice to you. More revenue DOES solve a lot of problems but if your gym isn't profitable and/or you're not paying yourself properly when you're small, you won't magically fix all of that just by bumping your revenue. It is NOT uncommon to see gyms doing as much as 20K per month without much to show for it. Listen to this episode, apply what you learn, and teach it to others. Let's all grow together! By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy P.S. I'd love to connect with you for a few to see what you have going on. Book a short call with me here!

I wanted to have Nate Stowe, owner of Stowe Training, come on the show because he's found a high level of professional success without coming off the floor or having a big staff. Many Fit Pros believe they need to open multiple locations or have a large staff in order to be successful. While there is nothing wrong with those things if that's what you want, you absolutely can receive the same pay and respect as other professions (e.g. doctors) while being a one-man-show. Nate and I talk about how you can gain fulfillment from a career in personal training while building wealth. One of the best takeaways from the interview is how Nate has a plan in place for replacing his income to work less as he ages. That piece alone is worth the listen. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy Listen and grow! By the way, be sure to connect with me on Instagram! Your Financial Coach, Billy P.S. Book a 15 Minute Q&A with me and see if I could help you with YOUR money goals!

I'm going to cut right to the chase here. Too many gym owners are too far down the list when it comes to where the money flows. Of course, the staff gets paid and you can't neglect to pay the rent or utilities. Even FaceBook often gets a cut. When it comes to them, they may take what's left over which often isn't much. Even the ones who do pay themselves are doing it inconsistently or not enough. This needs to change. If your financial house isn't in order, things may come collapsing down. Tune in to this bite-sized episode where I discuss: ·What you absolutely need to know when it comes to your pay ·The importance of how your business is taxed when it comes to paying yourself ·Profit distributions - Where the real fun begins By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy

If you help people lose weight and get in shape (and get paid for it), you have Jack LaLanne to thank. If you've ever used bands for your workouts, a smith machine, or a leg extension machine you also have Jack to thank. To say Jack LaLanne was ahead of his time was an understatement. Today on the show, we welcome Elaine Lalanne, the "First Lady of Physical Fitness." Elaine shares amazing stories about her late husband Jack as well as stories from her own remarkable journey. It's crucial to pay homage to those who have paved the way before us and nobody did that better than Jack LaLane. Elaine is closing in on 97 and trains every day! Listen to this entertaining interview to be inspired, learn the traits that made the LaLanne brand so successful, and give respect where it's due! Check out these important links: · Elaine LaLanne Website · Pride and Discipline Book · Jack LaLanne Website By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy Listen and grow! By the way, be sure to connect with me on Instagram! Your Financial Coach, Billy P.S. Book a 15 Minute Q&A with me and see if I could help you with YOUR money goals!