CFO at Home
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7. Consistency Beats Perfection w/Dan Hinz

Dan Hinz is the financial coach behind Adulting With Money, where for six years he has taught couples how to unite-not fight-over money. On this episode of CFO at Home Dan and Vince discuss the role a Financial Coach plays on a family’s money team, Dan’s personal budgeting mistakes and how you can avoid them, thoughts on credit card usage, and more. 

  1. Key Takeaways:
    • Avoid basic budgeting mistakes
      • Starting a budget without talking with your partner. The mechanics can primarily fall to one partner, but decisions need to be 50/50.  
        • Identify each partner’s role in the budgeting process based on their strengths 
      • Making a budget that’s way too complicated; discourages participation by one partner
      • Budgeting at too high of a level; doesn’t provide granularity needed to make adjustments when things don’t go according to plan
    • Credit card usage is a personal decision, be honest with yourself about your ability to manage responsibly
    • At the end of the day when it comes to money management there are 3 habits that we’re looking to develop:
      • Define your goals
      • Track your money somehow
      • Communicate
 
  • Recommended resources:
    • https://www.youneedabudget.com/ - for zero-based budgeting
    • https://jamesclear.com/atomic-habits
    • https://gretchenrubin.com/books/ - The Four Tendencies
 
  • Ways to contact/follow
    • https://www.adultingwithmoney.com/
    • https://www.youtube.com/adultingwithmoney
    • https://www.facebook.com/adultingwithmoney/
    • https://www.instagram.com/adultingwithmoney/
 

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