Fiscally Savage

In this episode of the Fiscally Savage podcast, Dylan talks about his journey to financial independence, the reality of the American job market, and the ways in which we can break free and live with intentionality.   Show Highlights: [00:00:56] The incident that led Dylan to take over the approved and civilized path [00:07:44] The reality for 60% of American workers [00:09:16] Maslow's hierarchy of needs and how it affect our lives [00:13:41] How dependence on various agents in our lives can undermine our financial independence [00:14:56] The social contract and what it sells us [00:17:56] The six steps to breaking free and living with more intentionality [00:26:13] Closing statements   Links and Resources: Fiscally Savage Fiscally Savage Tools Fiscally Savae on Instagram Fiscally Savage on Facebook Fiscally Savage on Twitter

This week, we are taking a break and will be introducing my other podcast, Knights and Dragons!

Are your prepared for your day, your life, and the eventual disaster? 

A year ago, shutting down was a shock to the system. Today reopening is just as much as a shock but spinning up takes a lot more effort than shutting down. Add some hackers to the mix and a good time is had by none!

As the global economy starts its grand re-opening, questions remain as to what that future looks like. How will spending habits and jobs change? And what dangers are lurking just over the horizon?

Today, Aaron asks "How do you balance short term decisions with long term goals".

The media reported that inflation (CPI) for March 2021 was 1% sparking fears that the long foretold hyperinflation was here. They, of course, ignored a lot of the bigger picture but it was great for getting your attention to sell!

Let's say that the US does find itself in a hyperinflationary spiral, where can I put my money that will protect me from it.... if such a place even exists?

This week, we ask the question, what happens if the US is more like Japan than Weimar Germany, how did we get here, and where inflation is happening now. 

On this episode of Fiscally Savage, Dylan explains everything there is to know about inflation, how certain countries have ended up with hyperinflated economies, the potential for hyperinflation in the US after the money printer goes BRRRR,  and whether or not Gold or other precious metals can suffer at the hands of inflation.   0:00 - 1:17 - Introduction 1:18 - 3:56 - Setting up today’s topic, Inflation. 3:56 - 7:13 - What is inflation? 7:14 - 10:07 - Does Gold have inflation? 10:08 - 17:53 - How did hyperinflation happen in Zimbabwe, Germany and Brazil? 17:54 - 19:03 - Loss of faith in currency 19:04 - 21:42 - Potential for hyperinflation in the US 21:43 - 25:41 - Central banking 25:42 - 27:32 - The US federal reserve system 27:32 - 33:30 - Where does the US get the money for things such as the stimulus package? 33:38 - 35:42 - How do we measure how much money is actually in the economy? 35:43 - 39:11 - Conclusion on inflation. 39:11 - END - Wrap-up & Outros

On this episode of Fiscally Savage we’ll be covering financial literacy. Dylan will be taking you through the financial literacy quiz step by step and explaining the correct answers to each question. We’ll be discussing stocks, bonds, mortgages and everything you need to know about managing your debt.

In this episode of Fiscally Savage, Dylan explains everything there is to know about taxes and what YOU need to do to start paying less and using the system to your advantage. 0:00 - 1:20 - Introductions 1:40 - 4:00 - Outlining today’s topic and what we will be covering. 4:00 - 7:04 - How taxes are actually calculated. 7:05 - 8:50 - State income tax, sales/property tax. 8:50 - 11:37 - Setting up your tax form correctly. 11:38 - 14:28 - US Employment Benefits for W2 Employees 14:30 - 17:45 - The different between Traditional and Roth contributions 17:48 - 20:11 - What is an FSA? Where is that money going to go? 20:11 - 22:28 - Healthcare Insurance Accounts 22:30 - 25:10 - So how do I file my taxes? 25:10 - 26:40 - If somebody’s giving you something for free, you are the product. 26:40 - 30:47 - The two flavours of tax professionals. 30:47 - 35:44 - What happened to ReadyReturn? The system didn’t optimise for us. 35:45 - 36:30 - We need to arrange our affairs with the understanding of using the system to our advantage.

In this episode of Fiscally Savage we give you the full rundown of the US deficit, what it is, what controls it and what adds to it. We’ll also give you some harsh truths on the best ways to deal with it and how it really affects our lives.   0:00 - 1:10 - Introduction. 1:12 - 4:50 - Recap of the last episode. 4:51 - 7:47 - What the deficit is NOT. 7:48 - 10:03 - What you need to know in terms of the social security system. 10:03 - 14:53 - What part does Medicare play in this? 14:53 - 15:55 - The complications of health insurance for companies. 15:56 - 18:10 - The Koch Brothers study. 18:11 - 18:55 - The general fund. 18:55 - 19:48 - How the military routinely drives up the US deficit. 19:50 - 21:10 - Adult talk time, how do we get out of this? 21:11 - 24:34 - Tax cuts, do they work? 24:35 - 25:58 - Are the short term gains worth the long term effects? 25:58 - 28:05 - The Death Tax. 28:05 - 20:30 - The easiest way to deal with the deficit. 30:22 - 32:10 - How much debt is too much debt? 32:10 - END -  Wrap-up & Outros.

On this episode of Fiscally Savage we will walk you through everything you need to know about taxes, where your income tax money goes and the different types of funds that help operate different sectors of the government and the US military. We will also give you a brief rundown on how to calculate federal income tax but be warned, this is not tax advice and we advise you leave that to the professionals.   00:00 - 1:28 -  Introduction 1:30 - 3:00 - Setting up today’s topic, taxes. 3:00 - 3:40 - There is no political agenda here, this is purely educational. 3:40 - 4:30 - What sections we will be covering in this episode. 4:30 - 5:18 - The government isn't telling you the whole truth when they discuss taxes. 5:20 - 7:40 - How did federal income tax come about? 8:00 - 10:50 - What are federal income taxes? 10:53 - 12:16 - The difference between effective tax rate and marginal tax rate. 12:16 - 14:05 - You need to see tax how it is and not how your political beliefs tell you it is 14:05 - 17:40 - Where do your income taxes go? 18:00 - 21:57 - The US runs a structural deficit, what does that mean? 21:57 - 22:42 - What your payroll taxes are paying for. 22:42 - 24:00 - The source of money is just as important as who’s handing it out. 24:06 - 25:35 - The discretionary fund. 25:35 - 27:30 - What would happen if we just got rid of the US government? 28:00 - 33:30 - How do you formulate income taxes? 33:30 - END - Wrap-up & Outros.

This week’s episode of Fiscally Savage is about the savage reality. Systems are built to serve themselves and you will never be able to change that, however there ARE ways to set yourself up to take advantage of those systems. Learn how to make a plan for yourself and always be prepared for disasters around the corner on this episode of Fiscally Savage.   0:00 - 1:18 - Introduction 1:20 - 3:00 - Recapping last week's episode. 3:00 - 3:47 - We wish the GameStop situation had gone differently. 3:48 - 4:35 - Systems are always going to serve themselves. 4:40 - 6:48 - Examples of systems that serve themselves. 6:50 - 8:09 - How do we set ourselves up to take advantage of this? 8:10 - 9:43 - The sad reality is that civilization is going to try and try to stop you from changing. 9:45 - 11:20 - You always need to be prepared for disaster around the corner. 11:20 - 13:10 - You need to have a plan for yourself! 13:11 - 13:54 - You’re in a rat race whether you like it or not. 13:54 - 15:14 - Nobody expected Covid. 15:18 - 17:48 - How Dylan broke the system and got job offers from 3 of the big 4. 17:50 - 20:00 - The world is not black and white, but you need to control the things that are. 20:00 - END - Wrap-up & Outros.

In this episode of Fiscally Savage, Dylan is discussing the ongoing situation with Gamestop and WSB vs Hedge Funds. This is a personal situation for a lot of people whose parents never fully recovered from the recession and millennials are out for revenge against Wall Street. If you’re struggling to understand what’s going on, this episode will explain and sum up everything for you! This is NOT financial advice.   0:00 - 1:13 - Introduction 1:13 - 3:04 - Intro to today’s topic, the barbarian horde. 3:04 - 4:25 - Disclaimer, this is NOT financial advice. 4:25 - 8:24 - What is short selling stock? 8:24 - 10:53 - Let's talk about Gamestop & DFV. 10:53 - 13:00 - What is a brokerage? 13:00 - 18:23 - Robinhood & Citadel 18:23 - 24:47 - What was the big short? 24:48 - 28:23 - The millennial generation has a long memory. 28:24 - 29:40 - What are call options? 29:42 - 32:36 - This isn’t about the gains, it’s about vengeance. 32:36 - 33:37 - Everyone on WSB is on the same page when it comes to hedge funds. 33:38 - 36:05 - What is clearing? 36:05 - 37:58 - Robinhood played dirty with short sellers. 37:58 - 38:48 - The most divided politicians in recent history are all in agreement on this! 38:48 - 40:00 - WeBull are trying to keep up with demand whilst Citadel back Melvin Capital. 40:00 - END - Wrap-up & Outros. Diamond. Hands.

In this episode of Fiscally Savage we explore how culture is deeply rooted in our society through things such as homeownership, car ownership and other common things we expected to do as Americans. We will discuss how these things may affect our financial situation and how to break out of that mould and live free.   0:00 - 1:15 - Introductions. 1:15 - 2:20 - Setting up today’s topic, The Culture Trap. 2:20 - 2:50 - Cultures are systems. 2:50 - 5:30 - Culture can inform your financial decisions. 6:15 - 9:30 - The Homestead Act of 1862. 9:30 - 11:45 - What is mortgage insurance? 11:50 - 13:00 - The Emergency Home Finance Act. 13:10 - 14:00 - Does Dylan believe in the American dream? 14:00 - 15:30 - The culture of home ownership and economic incentives. 15:30 - 17:00 - Food subsidies and healthcare. 17:00 -  17:40 - All of these things might not be the life you want to live. 17:45 - 19:33 - How do we defeat this? 19:35 - 21:05 - You need to understand the system. 21:10 -  24:00 - How can I make the system serve me? 24:00 - END - Wrap-up & Outros

Humans are tribal creatures. We form tribes, seek them out, and struggle to maintain them. For most of us, our friend group is our tribe and that group will help us define how we interact socially, how we think politically, and how we handle our affairs financially. But what happens when we want to level up our life? How will the tribe react? 0:00 - 1:10 - Introductions. 1:10 - 1:40 - Discussing last week’s interview with Colt. 1:40 - 2:05 - Setting your boundaries in foundation relationships. 2:10 - 2:40 - Foundational relationships form your opinion on almost everything. 3:00 - 3:30 - You need to understand how the relationships in your life are informing how you spend your money. 3:40 - 5:15 - Did you choose the relationships in your life? 5:20 - 6:30 - Friendship is an investment. 6:30 - 7:30 - Meeting people outside of your socio-economic bubble is when you find your people. 7:40 - 9:00 - You need to meet people from outside of the tribe to experience different cultures 9:00 - 10:30 - Is your friendship formed in a shared struggle? 10:30 - 12:30 - How finding success can cause your tribe to turn their back on you. 12:30 - 15:00 - When you start changing your friends may become passive aggressive towards you to try and change you back. 15:00 - 18:00 - Calling your friends out on this behaviour will lead to negative feelings as you are going against the tribe. 18:00 - 19:15 - Tribal identity is deeply ingrained in our society. 19:15 - 20:00 - You are the average of the five people you spend the most time with, why not choose good ones? 20:00 - END - Wrap-up & Outros

Today I am joined by Colt Gordon, Therapist and Social Worker, to discuss our connection to our family, how that impacts us and the decisions we make, and how to break free from it. 00:00 - 1:10 - Introduction 1:20 - 1:50 - Introducing our guest today, Colt Gordon! 1:50 - 4:00 - Colt explains his background of broken family issues and mental health issues 4:20 - 5:20 - How getting the tools for success turned Colt’s life around 5:20 - 8:00 - Dylan and Colt discuss foundational relationships 8:05 - 10:10 - How do you get out of a dysfunctional family relationship? 10:10 - 13:15 - How does playing the caretaker role effect your financial decisions on a daily basis? 13:30 - 15:40 - Does Dylan maintain his “live free” advice when making his own purchase decisions? 16:00 - 18:00 - Should replacing something like a backpack at the end of its life carry so much guilt? 18:10 - 22:00 - What advice would Colt give to someone in a caretaker position that is trying to live free? 22:15 - 24:00 - Change your language to focus on the path you want to be on! 24:30 - 26:10 - Make a shitty draft of your dream life and work towards it 27:00 - 31:00 - How and why Dylan took control of his financial situation after being asked to commit fraud as a teacher 33:00 - 37:30 - How generational trauma runs through families and how to overcome it 37:40 -  41:00 - “Your family always has your best interest at heart” or do they? 41:30 - 47:00 - Is blood really thicker than water? 49:10 - 50:00 - You can self differentiate into a wrong decision 50:30 - 55:00 - People aren’t always going to agree with you self differentiating and will ask you to “be your old self” 55:00 - 1:00:00 - You have to be prepared for people’s reactions to your self actualising as it will be hard to overcome 1:00:00 - 1:03:00 - People are either going to get on board or they’re going to leave, but people remember the ones that step out of the mould 1:03:00 - 1:06:00 - What was Dylan’s path to getting his finances together? 1:06:00 - 1:09:00 - Was it easy for Dylan in the beginning of his journey? And how he feels about his finances now 1:09:00 - 1:12:00 - What does it mean to be financially savage? 1:12:20 - END -  Wrap-up & Outro

This episode takes a break from the Social Problem to discuss New Year's Resolutions, voting for who you want to be, and chasing down a gazelles on foot.

On today’s episode of Fiscally Savage we discuss your relationship with your family, does your family want to see you win or do they see your success as a threat? You’ve learned a lot of financial habits from your family but are they the correct ones? Lot’s of important lessons to learn in this week’s episode.   00:00 - 1:36 - Introduction. 1:36 - 3:00 - Today’s topic, the social problem in relation to your family. 3:00 - 4:02 - Is your success viewed as a threat by your family? 4:02 - 5:00 - Understanding the foundation of your relationship with your parents. 5:00 - 8:48 - How financial trauma is amplified through generations. 8:48 - 10:00 - The world now is a lot different to the one your parents grew up in. 10:00 - 12:30 - Important lessons and foundational experiences that can be learned from your parents. 12:30 - 14:50 - The foundation you’re going to have financially is the foundation your parents already gave you. 14:50 - 17:15 - The cost of achieving your vision is your old life, your family is not your fate! 17:15 - 20:00 - You don’t owe your family anything, does your family want to see you win? 20:00 - END - Wrap-up & Outros

On this week's episode of Fiscally Savage we’re following on from the last episode with part two of the social problem. Are you seeking validation in the wrong places and letting it affect your financial situation? It’s time to learn self actualization!   00:00 - 1:26 - Introductions. 1:26 - 8:00 - Discussing our relationship with ourselves. 8:08 - 10:50 - The different types of validation people tend to look for. 10:53 - 11:14 - There is no sovereignty in seeking external validation. 11:15 - 13:00 - Contrary validation. 13:04 - 14:00 - How can you have a vision for your finances when you don’t even know what you are? 14:03 - 17:40 - Victim validation, The Oppression Olympics. 18:00 - 19:12 - Self actualization 19:12 - 23:00 - The hierarchy of needs. 23:00 - 24:20 - Your relationship with yourself is critical for you to live the life you deserve! 24:20 - END - Wrap-up & Outros

This episode of Fiscally Savage will teach you how to surround yourself with people who want to see you succeed and people you want to model yourself around, because you will become a product of your circle, it’s time to change your relationship with yourself!   0:00 - 1:32 - Introductions 1:33 - 3:26 - Brief introduction of today’s topic, the social problem. 3:27 - 4:00 - What is a healthy relationship? 4:30 - 5:30 - Do you have a healthy relationship with yourself? Do you wanna see yourself win? 5:30 - 6:50 - Human beings don’t like to lose. 7:00 - 9:00 - Is your family rooting for you to win? 9:00 - 12:00 - Surround yourself with good people, you will become the average of those people! 12:20 - 17:30 - Culture is part of the social problem. 17:30 - 18:50 - Culture will try to stop you deviating from the normal. 19:00 - End - The price of your new life is your old life.

What if I paid you $100 an hour to work on your budget? That’s the kind of savings you can make if you apply the knowledge you’re about to gain from this episode of Fiscally Savage!   0:00 - 1:36 - Introductions 1:40 - 5:20 - Discussion and explanation of the budgeting problem. 5:30 - 6:00 - Our finances should serve us! 6:10 - 8:00 - Discuss your finances with your partner, it could give you a better relationship! 8:00 - 8:30 - How much heartache and sadness could be prevented just by being in charge of your money? 8:30 - 10:00 - Dylan’s struggles with the Fiscally Savage web designer and being financially flexible enough to adapt and find a new one. 10:00 - 12:00 - It takes time to get to this point! 12:20 - 14:00 - 2020 hasn’t been a good year for us 14:00 - 16:30 - If you’ve invested the time to take control and live free, you’re gonna want to take the ball and control your future. 16:30 - END - Wrap-up & Outros

Welcome back to another episode of Fiscally Savage, this one is our final instalment on the system problem. In this episode Dylan will be discussing macro systems vs micro systems, the things we can control and the things we can’t control. This episode contains a lot of great information and advice for you to take control of your own circumstances, the only person who can take ownership of you is you!   00:00 - 1:30 - Introduction and setting up today’s topic, the final iteration of the system problem. 2:00 - 3:30 - Introduction to macro systems vs micro systems. 3:40 - 7:30 -  The things we can’t control and systems that don’t care about you. 7:40 - 9:30 - Why it’s so easy to get caught up in macro systems. 9:40 - 10:15 - The past doesn’t dictate the future! 10:20 - 13:30 - The things that we have an influence on. 14:00 - 14:30 - Influence is not control! 14:30 - 16:40 - The things we DO have control over. 16:50 - 18:00 - Ownership of your circumstances is for you and you only, don’t be a victim! 18:00 - 20:00 - Showing ownership of my circumstances as a teacher. 20:00 - 21:20 - Taking control of your sovereignty. 21:30 - END - Wrap-up & Outros.

Welcome back to Fiscally Savage, on this episode we’ll be answering the question of “Now What?”. Our host Dylan will be explaining what sort of account to keep your short term and long term savings in, planning for things YOU KNOW are coming, how cryptocurrencies are another form of gambling and more!   0:00 - 1:28 - Introductions. 1:28 - 1:51 - Outlining today’s topic, “Now what?”. 1:51 - 3:30 - Checking account or separate account, high yield savings account? 3:30 - 6:00 - What should go into that account? 6:00 - 8:00 - You should have 6 months worth of savings in the bank. Plan for eventualities. 8:20 - 12:30 - Prepaid expenses, plan for things you know are coming. 12:45 - 15:30 - What is investing? What are assets? 15:30 - 16:15 - Cryptocurrencies are a form of gambling. 16:20 - 18:10 - Financial assets recap. 18:14 - 22:50 - Passive funds & active funds. 22:51 - 24:00 - Good investment should be boring, anything less is gambling. 24:00 - END - Outros

On this week’s episode of Fiscally Savage we’re discussing part two of the system problem. Dylan will talk you through setting yourself up for the lumpiness of life and an in depth discussion about debt. How to pay it off? When to pay it off? What are the best methods for paying off debt? All will be revealed in this episode.   0:00 - 1:30 - Introductions. 1:32 - 3:30 - Outlining today’s topic and recapping last week’s episode, “The System Problem”. 3:30 - 5:05 - One simple truth about life, it’s lumpy! How do we solve this? 5:07 - 5:50 - Split your online savings into a different bank account, create friction between that and your main account. 6:00 - 6:42 - Be aware of minimums and fees! 6:50 - 13:00 - Debt, how to pay it off, when to pay it off and everything in between. 13:00 - 15:00 - What method do we use to pay off debt? Snowball method vs Avalanche method. 15:00 - 17:30 - “Wouldn’t it be better if I invested that money?”. 17:30 - 20:30 - Consumer loan debt vs Mortgage debt. 20:30 - 22:00 - Don’t drink the Kool Aid about tax benefits for paying mortgage interest. 22:00 - END - Wrap-up & Outros.

Welcome to Fiscally Savage episode 5, where today we discuss systems, how they’re designed to work against you and how you can manipulate them to work in your favor and capitalize on their flaws to enhance your finances on your path to correcting your spending habits and growing your savings.   0:00 - 1:24 - Introductions. 1:24 - 3:00 - Outlining today’s topic, the system problem. 3:03 - 4:40 - Example of system problems (Your meal plan). 4:45 - 6:39 - Another example of system problems (The education system). 6:40 - 7:20 - Credit card reward points are designed to keep you in debt. 7:15 - 7:40 - You can bend these systems to your own benefit. 7:45 - 9:00 - Step 1: The Plan. 9:03 - 11:00 - Step 2: List Your Expenses. 11:02 - 13:10 - Step 3: Do The Math (Look at your bottom line). 13:10 - 13:55 - Separate your Checking account and your Savings accounts into different places. 15:00 - 16:20 - Check your bank account every single day. 16:25 - 18:45 - Step 4: Executing The Plan. 19:00 - 21:33 - Step 5: Review your progress, what went well? What went bad? 21:35 - END - Wrap-up & Outros.

Welcome to Fiscally Savage where today we dig into the objections and pitfalls you will face on your path to F U money and getting your finances together. We’ll discuss these in detail and teach you how to deal with each of them in an effective manner, giving you the tools and knowledge to beat down every obstacle in your way.  0:00 - 1:50 - Introductions. 1:50 - 3:49 - Outlining this episode’s topic. 3:59 - 6:10 - Objection one, people don’t want to lose flexibility. 6:10 - 7:51 - Objection two, “I don’t have time”. 7:52 - 10:30 - Objection three, “I don’t have enough money.” Or “I’m not that poor”. 10:35 - 13:49 - Objection four, “My spouse or partner won’t help me with this.” 13:52 - 15:40 - Objection five, “Looking at my spending and debt makes me feel uncomfortable”. 15:45 - 16:20 - Reviewing and discussing the five objections. 16:25 - 17:05 - Pitfall one, lacking the vision. 17:07 - 18:10 - Pitfall two, lack of communication. 18:14 - 19:50 - Pitfall three, “Let’s invest”. 19:56 - 22:00 - Pitfall four, taxes. 22:00 - 22:50 - Recapping and discussing the objections and pitfalls and how they fall into two categories. 22:50 - END - Wrap-up & Outros

Welcome to Fiscally Savage where today we get started on the steps to laying a foundation. In this episode we give you 5 steps to correcting your budgeting and starting your journey towards F You money and financial freedom. Join us for insightful content to help you escape the boundaries of debt and poor cash flow.   0:00 - 1:50 - Introductions. 2:00 - 3:10 - My journey to FU money and financial freedom. 3:15 - 3:30 - Time is money! 3:40 - 4:40 - Step 1: What is your why? Why do you want to have this budget? 4:45 - 7:50 - Step 2: Get the lay of the land, looking at your cash flow. 7:54 - 9:30 - Step 3: Do the math! Don’t get math anxiety though, all we need is the basics. 9:34 - 12:40 - Step 4: Allow yourself to face the truth, this is the fun part! 12:45 - 14:00 - At this point you should be beginning to see what the issues are! 14:00 - 15:00 - How to control a spending problem, budgeting. 15:30 - 17:30 - Step 5: Time to write a budget for the life you have right now. What are your must haves? 17:40 - 18:20 - Recapping the 5 main steps to fixing your budgeting. 18:20 - END - Wrap-up, outlining the next episode and outros.

Today we get started on the steps to creating your vision. In this episode discussion includes, how realizing your vision is first and foremost to create the life you desire. With 5 steps to follow and 5 action points to start this engaging episode provides the tools you need to get started on your goals and achieve your dreams.   0 – 1.30 – Introduction to the show. 1.31 – 3.35 – The importance of a vision. 3.36 – 5.29 – Step 1: Give yourself permission to dream. 5.30 – 7.54 – Step 2: Ask yourself where you want to be in 1, 5 and 10 years. 7.55 – 9.43 – Step 3: Visualize your life at those checkpoints. 9.44 – 11.48 – Step 4: Allow the vision to be emotional. 11.49 – 14.16 - Step 5: The Clock is ticking. 14.17 – 19.43 - Five action points to help you start. 19.44 – 20.32 – Short recap of the five steps and action points. 20.33 – 21.19 – Acknowledgements and promotion.

On episode one of Fiscally Savage we discuss what it means to be fiscally savage and introduce you to the first step of breaking away from the chains that tie us down. I hope you enjoy this thought-provoking introduction episode and look forward to bringing you more episodes. The aim is to share my own experiences and help you to break free from the chains of debt and social pressures simply by having a vision and the courage to breakaway.