Aug. 11, 2021

57. Reduce Everyday Expenses and Build Wealth with Gordon Stein

57. Reduce Everyday Expenses and Build Wealth with Gordon Stein

Gordon Stein is the Author of the Cashflow Cookbook, which shows you how to save on just about everything you buy, and apply those savings to pay down debt and build wealth, all with minimal sacrifice and no budgeting. On this episode of CFO at Home,...


Gordon Stein is the Author of the Cashflow Cookbook, which shows you how to save on just about everything you buy, and apply those savings to pay down debt and build wealth, all with minimal sacrifice and no budgeting. On this episode of CFO at Home, Gordon and Vince discuss ideas to cut down on everyday expenses, effectively managing what you save, and more.

Key Takeaways:

  • Reducing what you pay on for everyday household needs can free up money for saving and investing without sacrificing things that bring enjoyment to your day-to-day life
  • A few ideas to cut down on some everyday expenses (detailed in Cashflow Cookbook) 
    • Home repairs
      • Take advantage of sources like YouTube videos that show you how to perform repairs yourself
      • Comparison shop quotes you receive for home repairs; dollar amounts can vary greatly at times
    • Transportation
      • Use rate comparison sites to competitively for shop auto insurance 
    • Food and Drink
      • Bringing you own lunch to work
  • Tracking the increases that the reduction of everyday expenses can bring to your wealth is one way to keep yourself motivated to find more savings opportunities 
  • Target reading a Personal Finance book a month to keep your knowledge of investing and other financial topics growing so you can continue to make the most of the money you save by cutting down on everyday expenses

Resources

Ways to contact/follow:

Contact the Host - vince@thecfoathome.com