Back to the Basics: Tracking Expenses
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
30 min
3 speakers
5 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. Welcome to 2025. Holy cow. We're here.
The state charges $1.99. Do you know what that's from?
Not even close.
Tollbooth Willie, Adam Sandler. Probably an SNL skit. I'm not sure.
That makes sense.
The state charges $1. I don't know if it's $45, $1.99. For what? For whatever the toll booth was.
The state charges $1.99. So this is a toll booth operating skit?
Yes.
From SNL?
I haven't seen that one. Or maybe it was just on his tape. You know, he used to have a tape, believe it or not. I had his tape, I think. Welcome to Worcester. $1.25, please.
Like an improv thing?
Like a cassette tape, like his comedy skits. I don't know. I might just be making all this up. I don't know where Tollbooth Willie came from. I think it's an Adam Sandler thing. The state charges $1.25.
No idea. I'll take your word for it. Was he on SNL?
Oh, yeah.
I don't think I realized that. Oh, yeah.
That would have been a long time ago then. He did his turkey song on the SNL news whatever.
Was his claim to fame because of SNL or did he start acting first?
Oh, he definitely was a comedian before acting.
Okay.
And I think he then was a comedian and then broke into SNL and then broke into movies.
Do a lot of the SNL people start doing movies after SNL or vice versa? No, no, no. So like Will Ferrell, did he make his reign?
Oh, I don't know. I don't know if he was on SNL. A lot of people are though.
He definitely guest starred because of the little more cowbell skit. There you go. So one of the few things I've seen.
My running partner, coach, slash whatever. Well, not whatever, but running. Anyways, he and his significant other went to New York City recently to go to SNL and live.
That would be so fun.
That does sound fun. I didn't even know that was a thing. I mean, I knew they had a studio audience, but I just figured, like, you got in line for it.
I thought you had to, almost like a lottery, I thought you had to, like, stand outside and hope for a spot. I don't think you can even buy tickets outright.
No, but he had to submit, like, a year ago for a show, and they got it, and they flew up there, and all the things. But that's not what we're here to talk about today. What, I thought we were in the trust tree in the nest, are we not? We are here to talk about, first of all, it's the new year, and we're going back to basics. Back to the basics, something we do every year, have for the last couple of years. And we're going to start from basically step number one in the DIY money lifestyle, and that is how to successfully build a budget. Now, you might think I'm going to jump right into, oh, this is how I set up my budget and this is what I do. And you would be wrong. The tribe has spoken. Because one of the things that I realized when we started off on this journey, and if you've ever read the DIY Money book, you'll notice this, is that when you start talking about personal finances, and I still see this to this day, by the way, everyone says, well, you need a budget.
You need a budget. And I remember 20 plus years ago, by the way, I was a financial advisor at the time, had credit card debt, auto loan, living paycheck to paycheck. And as I was starting my business, there was no real paycheck. So it was a little scary there for a while. I was a bad boy. And I remember thinking to myself, you're such a hypocrite. Like, you're going to go into the financial advising business, and you are not even in a good financial place yourself. And I was like, you cannot start a career and be phony. That's ridiculous. Fast forward, I know tons of financial advisors who live paycheck to paycheck, by the way. So, you know, it's interesting. I've never had anybody ask me, like, personally, how's my financial situation?
Never?
Even brushstrokes. Like a client. Like, I think you should ask.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–8:19
2
Why are Quint and Allie going 'back to the basics' for the new year?
8:19–10:31
3
How did Quint's personal money crisis lead him to start tracking expenses?
10:31–15:00
4
What is the difference between fixed and variable expenses and how did Quint identify them?
15:00–26:22
5
How did Quint implement his first expense-tracking system with just a notebook?
26:22–30:21