Holiday episode, Paul Sating, creator of multiple podcasts, shares his financial journey. He has retired from the military, has a full-time job, real estate income, and shares highs and lows through it all.
- His wealth-building mentality & the mentors who walked him through the mechanics of finances.
- The power of a 15-minute conversation to help his financial foundation.
- The most important principle for him with finances is simply debt management.
- Looking at debt can be overwhelming.
- When it comes to debt: "Mitigate then Eliminate."
- Learning the value of hard work in a farming community. His first job at $3 per hour, then working 3 jobs when he was 16.
- How you make a goal about your finances so that you can live the life you really desire.
- How you have to define happiness for you.
- The sleeplessness that comes through having debt.
- He owns 3 homes and is earning income from most of them.
- When you are moving regularly, consider purchasing a home in each area. The housing market conditions can work for you or against you.
- The housing decisions that have to be made as you move regularly, such as: Buy or rent? School zones to be considered? On base housing or off base?
- Re-financing helped him survive to ride out the housing market ups and downs.
- How he chose a quality property manager? Customer service. Prompt responses Meeting his needs as a homeowner.
- Serving in the military, he had a steady income consistently. After working overseas, he had a young family and hit a very low point financially.
- How he was able to pull himself out of the low point to make ends meet financially.
- The consolidation loan helped him pull out of the financial mess.
- Minimalism: He was a minimalist when he had to be.
- The focus to make it through the financial struggle.
- Money is important but is second to the relationships in his life.
- How divorce turned his life & finances upside down.
- How he struggled to put his children through a safe school.
- "I did all the right things...and here I was, back at square one. I had to get up, brush myself off, and start up again."
- "Sometimes the best step is to just start and go with it."
- "Stay focused on the end of the tunnel."
- He would rather have the life moments than driving the nice ride.
- He test drives the Infinity regularly.
- Money & marriage: how it works for them. She is carefree and he is disciplined.
- His daily tracker/ and every penny how they counted the money.
- The budget was on the fridge even in front of the kids' artwork.
- The validation moments: to see each one of the sections on the bar chart to remind yourself how much you've accomplished.
- The happy medium they have found as a couple in their financial journey.
- The question that woke him up to enjoy life: "How much do you need to save before you are good?"
- Podcast Washington, so much creativity and
- Why he loves to podcast. It's his medium. "I can listen to who I want to, when I want to."
- The Q. His podcast on Positive Humanism. "Sometimes the questions are more important than the answers."
- His podcast is helping him be accountable to himself by focusing on the positive.
- Atheist Apocalypse: a fictional comedy, an audio drama, talking about the end...
- All the work that goes into making a podcast.
- Enjoying the journey of creating.
- No matter where you are: the student loan debt, or credit card debt, this is temporary. Stay disciplined, stay focused and keep at it.
- Make sure you have a reward periodically. Something to keep you on track.
Resources mentioned in this episode:
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