In the 11th episode of the Heart of Money podcast, Austin Black and Bob Wessler initiated a three-part series on budgeting and personal finance. They discussed the significance of budgeting for financial success, and shared personal anecdotes highlighting common mistakes. They discussed real-time banking problems and the misunderstanding between account balance and actual wealth. They emphasized that without a proper grasp of personal finances and implementation of a budget, individuals may face issues like overdraft fees and unchecked spending. While they agreed that there's no universal budgeting method, they recommended a consistent approach, focusing on essential expenses. They briefly advised against excessive spending on clothing and footwear. They concluded by recommending a free debt-free calculator to help track and quickly pay off debts. Key Points and Quotes Highlighted: Heart of Money podcast, Budgeting, Financial success, Money management (00:00:00 - 00:06:32) In episode 11 of the Heart of Money podcast, Austin Black and Bob Wessler launched the first of their three-part series on budgeting and personal finance. They discussed the importance of budgeting as the foundation of financial success and shared amusing personal anecdotes emphasizing common budgeting mistakes. They intend to delve into their own past oversights to reveal valuable learning experiences. The conversation touched upon real-time banking issues, the confusion between account balance and actual wealth, and the negative implications of failing to maintain a budget. The hosts emphasized how an inadequate understanding of personal finances could lead to potentially harmful situations such as overdraft fees. The episode concludes on the note that, without a budget, individuals lack control over their finances, ultimately allowing money to control them instead. Budgeting, Money Management, Expense Tracking, Personal Finance (00:06:32 - 00:23:52) The conversation revolves around personal financial management, specifically budgeting. Both parties shared their experiences with budgeting, underscoring the importance of allocating each dollar to specific purposes. They suggested that this method, called zero-based budgeting, allows straightforward tracking of money expenditure. While they agreed that there's no one-size-fits-all budgeting strategy, they emphasized that consistency and the prioritization of essential expenses are crucial. They also touched upon reducing clothing and footwear expenses, noting that unnecessary spending on these items can disrupt a budget. They concluded by encouraging listeners to try a free debt-free calculator to keep track of their debts and see how faster debt payment can be realized once they start paying attention to their spending. Ready to take the next step in gaining control over your money?  Download the “6 Secrets to Healthy Money Conversations” guide  Register for my FREE masterclass “Financial Freedom Blueprint” here Or Schedule a FREE Discovery Call to determine if you would benefit from 1:1 coaching

In episode nine of the "Heart of Money" podcast, host Austin Black and guest expert Bob discuss the misconception surrounding credit card points as part of their "Money Mythbusters" series. The main focus of the discussion is on the minimal impact of credit card points on financial success. Bob advises against using credit cards solely for accruing points and benefits, advocating instead for responsible use of credit cards, such as timely payment of the full balance. While he acknowledges the potential to earn cash back, he points out that this should be done carefully to avoid excessive spending. He also highlights the potential pitfalls of using mobile wallets and other convenient payment methods which may encourage overspending. The episode concludes with an agreement that disciplined budgeting and spending are critical to avoid debt associated with credit card use.