There is a unique twist to this week's interview, and I'm a huge fan of it! Based on the feedback we've received from you as listeners, whenever we touch on the topic of personal finance, people get value from it. This is exactly what we're going to do by bringing back former guest Pendar (same name in the chat room). We do talk stock market and trading, but the main focus to is offer inspiration and show that it is 100% possible through pure hard work to take a messy situation within personal finances and get it cleaned up. Speaking for myself, I know I was motivated after talking with Pendar and got plenty of the "no excuse" mentality that I always try and focus on. Notes: Today we revisit with Pendar from episode 16. After finding initial success trading his IRA he suffered some significant drawdowns after being overconfident which led him to the path he is currently on. It was a very big eye opener for him. After giving back his gains, once he got to break even (which is always a big psychological level), he started to put on even riskier positions to get back into the green which ultimately led to that accounts demise. He took a hard look at his finances and realized that he had to get rid of his debt but that would take some big life changes. Budgeting and multiple income sources were going to be his solution. He has no desire to pay the interest rates on his debt and that is his big motivator. Pendar is big into having separated accounts for various expenses such as auto maintenance, vacation, bills, savings, etc. Keeping these separated makes it easy for him to not only budget for the future but to also make it easier to allocate his income so that no ‘surprises’ will clear out his checking account. He’s a big believer in being prepared. He has also invested in a steam cleaner which has already returned 60% of it’s value. This is just one example of his multiple sources of income. As he said, he gets paid to literally just push a button. Pendar is not going to invest in any more business models since he doesn’t want his overhead to get too large. Quotes: “I was trying to beat the professionals at their own game. Instead of going 45 days out I was trading 21 days or shorter.” “One of the biggest signs of maturity is saving up for something you really want to buy and paying for it in cash.” “It’s all about the process, not the goal. Follow the correct process every single time.” “By 10pm at night I’m going to sleep and I’m up at 4am. That’s 6 hours. I want to be up and working by 5am.” Links: STR 16: https://claytrader.com/podcast/episode016/ Mint Budgeting: https://www.mint.com/ Pendars UBER code is: https://partners.uber.com/i/7zm95 Pendars Lyft code is: https://www.lyft.com/drivers/PENDAR120983