Welcome to Fiscally Savage episode 5, where today we discuss systems, how they’re designed to work against you and how you can manipulate them to work in your favor and capitalize on their flaws to enhance your finances on your path to correcting your spending habits and growing your savings.

 

0:00 - 1:24 - Introductions.

1:24 - 3:00 - Outlining today’s topic, the system problem.

3:03 - 4:40 - Example of system problems (Your meal plan).

4:45 - 6:39 - Another example of system problems (The education system).

6:40 - 7:20 - Credit card reward points are designed to keep you in debt.

7:15 - 7:40 - You can bend these systems to your own benefit.

7:45 - 9:00 - Step 1: The Plan.

9:03 - 11:00 - Step 2: List Your Expenses.

11:02 - 13:10 - Step 3: Do The Math (Look at your bottom line).

13:10 - 13:55 - Separate your Checking account and your Savings accounts into different places.

15:00 - 16:20 - Check your bank account every single day.

16:25 - 18:45 - Step 4: Executing The Plan.

19:00 - 21:33 - Step 5: Review your progress, what went well? What went bad?

21:35 - END - Wrap-up & Outros.