“Setting up dedicated accounts, you give yourself permission in the future to spend the money on what you said that money was supposed to be for”

Cody Garrett · ChooseFI | Financial Independence Podcast · 621 | The Math Says You're Fine. Why Don't You Feel Fine? | Cody Garrett

Play from 52:36
52:36

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What was described

Create dedicated accounts (e.g., a separate LTC account) to earmark money for specific purposes

Said nearby on the same subject

“Keep them very separate... not keeping good records... having an accountant who's going to hold you accountable for how you spend your money.”
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“Move somewhere between 30 and 40% of every locum payment straight into your separate account the moment it lands and call it the tax account”
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“We can create a retirement paycheck... they can actually receive more money every two weeks in their bank account than they did while working”
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Why it worked Share this moment
“I'm going to put $480 in the horse account automatically every week. And then the car, I'm going to put, so it's $10,000 divided by 52, $192, $192 every week in a separate car account.”
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How they work $480 weekly to horse account; $192 weekly to car account; $619 left ov… Share this moment

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