Back to the Basics: Fast Cash and Emergency Fund
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
26 min
3 speakers
7 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
Hey, this is Daniel. Thanks for listening to DIY Money. If you haven't already, be sure to give us a five-star review on iTunes so your friends know that they can learn from the show. Now, enjoy the show.
Ladies and gentlemen, you're listening to another edition of DIY Money.
DIY Money. I know just a couple weeks ago you and I were on. We talked about the 5Fs. We talked about the goals that we had for the new year. Obviously, this episode is going to come out in the new year with our Back to the Basic episodes that we're going to get to in just a second. But tell me one of the goals that you've set.
Yeah, so I don't. I don't have them yet. Why? Okay. And I'll tell you why.
What are the hosts' New Year goals and why do they matter?
This is abnormal, very abnormal for me.
It's not normal.
Because I start this process and did start this process around Thanksgiving or even before sitting down thinking about the new year. But I found that when I started doing that, I leapfrogged that. the biggest fitness goal that I have, which again, we're cutting this. I don't know when this will come out, but we're cutting this on the 27th. So I run this race on January the 11th. So I stopped. I said, I cannot, I I'm, I'm not going to set these yet. So I run the race on the 11th, my wife and I, her birthday's on the 12th. Uh, and we're going to enjoy some, some days off just her and I, which will be wonderful. Uh, That's when I'll just ponder those.
Yeah, that's when you'll go into depth on those. For sure. That's good. Well, I've done the same process and kind of have those, and obviously we have the five different areas. My big one, my focus area this year is going to be fitness. I mean, we talk about this all the time, but it's going to be fitness. I actually have a strange goal. I want to gain weight. So I have about 20 pounds that I want to put on for the new year, obviously in a healthy manner. And my other side of that is I want to join a basketball league. Cool. I'm going to join a basketball league and get more involved in the sport that's my favorite. I talk about volleyball a lot on here, but basketball has always been my passion. So I'm going to join a basketball league and gain 20 pounds.
I am going to come at you, and I'm going to come at you hard. Well, your Traeger will help with that. Pack on the protein.
Again, yeah, that's a lot of protein I could throw on there.
Well, that's fantastic. Good for you. Well, I will be curious. So I want to gain 20 pounds is a great goal. I have under goals of that. Well, that's my point. I'll be very curious because that's scientific. You're going to have to dive into the science. Are you going to hire a dietician?
Are you going to work with somebody? I've been watching a lot of videos and things on that. My parents own fitness gyms, so I have a little bit of an insight to that world and will work on kind of the calorie deficit and protein. I'm going to have a target for protein every day to meet that and then exercise goals on top of it. So that's the broad goal. And then there's under goals of making sure I'm hitting these different areas, almost like filling your rings every day and will you track that like on an app or what will you my plan is to do it on paper like legit old school like i have apps that'll track um like okay i'm eating this food grilled chicken or whatever how much protein is that that i have on the macro nutrients yes macros and will you try to do like five pounds a quarter or will you um
That part I haven't defined yet, but that's a good idea is to define, you know, how much.
I know that one of my fitness goals for previous was I wanted to lose 20 pounds this year, which was interesting. And to start the quarter of the first quarter of the year, I lost 10 very quickly. And then I put most of it back on. And then and reason. So what was interesting is I was always like, well, it's the whole year like I got. I mean, I got another nine months here. Let's not get crazy. So I didn't compartmentalize it. Then throughout the year, the goal shifted considerably. I'm probably down 15, but I'm eating everything.
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Chapters
7 chapters
1
What is the main topic discussed in this episode?
0:00–0:39
2
What are the hosts' New Year goals and why do they matter?
0:39–4:28
3
How do the hosts set specific fitness goals and track progress?
4:28–14:22
4
What is the budget-building process they recap from earlier episodes?
14:22–16:26
5
How do you develop positive margin in your monthly budget?
16:26–20:43
6
Why should you create a $1,000 'fast cash' fund and how do you fund it quickly?
20:43–25:42
7
How did one host turn household items into fast cash and reach $1,000 fast?
25:42–26:20