Are you comfortable talking about money? Do you clearly understand your financial situation and can confidently say that you know your numbers? Yes, you should be aware of the three critical numbers–do you know what they are? If not, you will have difficulty improving your financial situation.
In this episode, Sharran takes you through the three foundations of personal finance, the building blocks of money, with tactical steps to start your journey to financial freedom. The sooner you learn how to manage your finances, the better your long-term financial prospects will be for things like investing or planning for the future.
If you want to understand how your money flows and plan for a better future, this episode will give you a clear framework. So let’s dive in!
“Financial freedom is where your passive income is greater than your monthly expenses.”
– Sharran Srivatsaa
01:57 The number one question people ask Sharran
03:25 The three things discussed in this episode
03:44 What qualifies Sharran to talk about personal finance?
05:08 Knowing these three numbers will guide your financial future
07:50 Why is it important to track your numbers?
08:13 How do you define financial freedom?
12:42 Why is it important to build your plan?
14:41 How do you build your plan by telling the truth? (The 3-1-90 Rule)
18:04 It’s a terrible idea to do this when setting a goal
19:07 The only action you need to take to make things better
19:51 Why is it important to automate your flows, and how do you do it?
24:18 The biggest unfair advantage you can have and what you need to do to have it
25:06 Recap of the building blocks of money
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