Financial Margin: Fight For It
In this episode of the Stuff About Money podcast, Erik Garcia, CFP® sits down with fellow podcaster Mitch Gibson to discuss how to build financial margin in your life. Margin doesn’t just happen, you need to fight for it.
Episode Highlights:
- Erik introduces Mitch Gibson and shares how they met. (2:29)
- Mitch discusses the importance of having buffers around his time management. (5:10)
- Erik points out that margin, whether in time or in money, is not something that just happens. We have to fight for it. (9:22)
- Erik discusses the significance of creating debt access, spending less than we earn, and building up savings. (16:33)
- Erik explains the difference between wealth and income. (21:11)
- Erik explains why it is essential to have a financial margin in our lives. (26:48)
- Mitch shares that he is finally reaching the point in his career where he can see a return on his investment. (28:22)
- Mitch discusses the significance of having a plan in place before making financial decisions. (38:16)
- Erik explains the importance of developing a personal vision before creating a business vision. (38:49)
Key Quotes:
- “Whether we’re talking about margin in our time or financial margin, it’s not something that just happens. It’s something that we have to fight for.” – Erik Garcia, CFP®
- “You could do anything for a short period of time. Right? But if you change your mindset, then you could do something for a long time.” – Erik Garcia, CFP®
- “Don’t wait until yesterday to start thinking about your future because you should have your plan in place prior to making those financial decisions.” – Mitch Gibson
