Today’s episode is all about taking your L’s, or in other terms, taking your losses. Rich and Marcus share some personal stories and set backs they’ve had where they had to accept mental, physical and financial setbacks and then move on with their lives. They attribute their ease of getting through these incidents with only a slight financial dent to their past few years of solid financial discipline. What could be a massive financial loss that takes months or years to recover from can be minimized with a proper financial plan.

In this episode the guys touch on how cable and insurance companies often times randomly increase your bill by small percentages without notifying you. This episode also dives into the underworld of the Tow Truck and Mechanic industries and why you always end up paying exuberant amounts of money for things related to your car.

Highlights:

• Calling and fighting to lower your bills
• Paying cash for a car if possible
• Using the Mint app to help with budgeting
• Yearly subscription renewals that you forgot about
• Tiller Money spreadsheets
• The dark world of the tow truck industry
• Mechanic Racketeering

Key Takeaway: What could be a massive financial loss that takes a lot of time to recover from can be minimized with a solid budget, emergency fund and ongoing financial plan.

Paychecks & Balances

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