Podcast Episode 3: Tracking Your Spending For A Successful Retirement

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Episode Summary

In this episode, Brett discusses why developing the simple habit of tracking your spending is one of the most important things you can do to prepare for retirement. In addition, you’ll find out what to track (and what not to track) when it comes to personal spending, how long you need to track your spending to see a reliable trend, and how to get started if you’ve never tracked your spending before.

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Episode Highlights

[2:15] Why the simple habit of tracking your spending has such a meaningful impact on your retirement success
[4:18] The Atomic Habits story that got Brett thinking about how business owners might make consistent, incremental improvements in their personal financial habits for big results
[07:42] How misestimating your average spending can significantly impact your ability to retire comfortably
[08:42] How long it generally takes to start seeing a reliable trend in your spending
[09:27] What to track, what not to track, and why business owners tend to have more difficulty tracking their spending
[12:47] How to start building the habit
[14:08] Key takeaways from this episode