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Secure Your Financial Future with Proven Financial Strategies [Interview with PT Money]

PT
PT has been blogging about his money wins since 2007. His work has been featured in major publications such as the Huffington Post, US News, and many more. He's the proud founder of FinCon, a popular finance blogger conference and enjoys the freedom that comes with being an entrepreneur.

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Resources Mentioned

3 Key Takeaways

  1. Plan ahead—for example, when doing your taxes, brainstorm diff ways you can save money.
  2. Your best financial investment can be starting a side-hustle.
  3. Have fun with your finances after hitting your financial goals.

Podcast Interview Notes:

1. Can you tell me a little a bit of your background? Why did you decide to create PTMoney?

I run two businesses, PTmoney.com and FinCon. 

I became inspired by reading online finance blogs since they showed me how to effectively manage my money. Dave Ramsey and David Bach also showed me great money strategies. All these factors, along with marrying my frugal wife eventually led me to create PTMoney.

2. What tips would you give to the average person for filing their taxes?

First, consider hiring a CPA or a professional tax preparer to do your taxes. These people can guide you on making better choices to saving money for when you file your taxes. Second, start preparing for your taxes a few months in advance. This will give you enough time to do research and take advantage of specific tax deductions. 

Finally, use tax season as motivation. The governent enforces specific actions such as saving for retirement. Use these actions to save more without being penalized.

3. What’s worthwhile investment you’ve made in your life?

Entrepreneurship and building things that bring a lot of value to as many people as possible. There’s only so much spending you can reduce in your life, right? Say you’re spending $2,000 a month right now on monthly expenses, well the most you could ever save is $2,000. Instead, focus on the income side of things and generate more revenue.

4. Are there any book(s) you’d give as a gift to others and why?

I would say a good personal finance book that resonated with was Ramit Sethi’s “I Will Teach You To Be Rich.” Then on the business side of things, Michael Gerber’s “E-Myth” was really a game changer for me. When you start a business, the next thing you’ve got to think about is how to scale up and this book did a great job teaching me this.

Money Round

How would you spend $1000?

I would buy some lift tickets and some new boots for the ski slopes this winter. 

What investments would you recommend to someone looking to retire faster than most?

Nothing beats the market. I’d tie all my investments to the market and invest in low-cost index funds.

What does money mean to you?

Independence. Money is a tool that if you get right will set you up to live a liberating life with more choices.

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About the Author Chris

Chris’s passion for writing is to inspire ambitious people to reach happiness using money as their tool. He enjoys talking about money, self-improvement, and learning from others. You can find more of his work here.

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