Chapter
Saving money through lunch expenses
28:01 - 33:51 (05:50)
The speaker talks about how small expenses can add up to thousands of dollars, using the example of buying lunch for employees at the office, and how cutting just one dollar off the cost can lead to significant savings.
Clips
The speaker suggests investing in a diverse portfolio with index funds instead of seeking multiple streams of income or managing rental properties and startups, using an example where someone who saved $3,000 a year for 35 years ended up with less than someone who saved $3,000 a year for 10 years if the accounts grew at 7% per year.
28:01 - 30:54 (02:52)
Summary
The speaker suggests investing in a diverse portfolio with index funds instead of seeking multiple streams of income or managing rental properties and startups, using an example where someone who saved $3,000 a year for 35 years ended up with less than someone who saved $3,000 a year for 10 years if the accounts grew at 7% per year.
ChapterSaving money through lunch expenses
Episode#065 - Chris Hutchins - The Basics Of Money Management
PodcastModern Wisdom
The hosts discuss the impact of cutting costs on everyday expenses such as office lunches, and how small savings can add up to a significant amount over time.
30:54 - 33:51 (02:57)
Summary
The hosts discuss the impact of cutting costs on everyday expenses such as office lunches, and how small savings can add up to a significant amount over time. They also touch on the importance of considering one's priorities before taking on extra work for additional income.