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Kerry Lutz's--Financial Survival Network

Aug 23, 2022

Wondering how you can cut back on costs and decrease the effects of inflation on your day-to-day life? In this episode, Gordon Stein and I talk about some methods for doing exactly that. Gordon comes on the show to talk about his recent book, The Cash Flow Cookbook, and discusses how he went from cutting smaller costs (such as car washes) to making a career teaching others about this topic. Inflation in the US economy affects the cost of many necessities, but by mindfully spending and strategizing, you can minimize the effects of these price increases. Tune in for more insight.

-Every month, consumer credit goes up and consumers are in the hole
-The Cash Flow Cookbook can help you
-Gordon Stein was inspired to write the book when he found a way to get car washes for free; it was an effortless matter. He found the way to cut the costs of a few things, and make a list of these ideas. He eventually made a spreadsheet, book, and a speaking career about it
-When people think about saving money, they assume they have to give something up. The purpose of the book is to evaluate how you can save with minimal effort
-Your credit score can change the interest cost of your loan, your insurance cost, etc. by a large percentage
-We end up buying a lot of things we don’t use rather than shopping mindfully—especially when it comes to clothing
-Gordon helps clients free up cash to grow their relationship with their advisor
-It’s never too late to implement these strategies. If you start earlier, you can see your growth over time. Someone in their twenties can add a lot of wealth to their investing/retirement
-You can unwind the effects of inflation by cutting down on certain expenses
-It’s better to spend money on things you enjoy than spend more money than necessary on things you need

Useful Links:
Financial Survival Network
Cashflow Cookbook