No Negative Energy Presents: The "Due To Expire" Podcast with Corey L. Kennard

Interview: Kicking The Budget with Scott Zuckerman

• Loudly • Season 1 • Episode 28

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Money stress has a way of sneaking into everything: your sleep, your mood, your marriage, and the choices you make when life gets busy. We wanted a conversation that cuts through the noise and gives you a clear path to financial wellness that actually holds up in real life, even if you’re the kind of person who still wants to live now.

We’re joined by Scott Zuckerman, a veteran financial strategist and founder of Financial Fitness Passport, to break down what “financial fitness” really means. We talk about building trust with a credentialed fiduciary financial advisor, why a complete plan reduces “leakage,” and how to stop feeling like your finances are scattered across a dozen disconnected decisions. Scott also gets specific about credit cards: why he uses them for protection and rewards, the rule that keeps them from turning into revolving debt, and how credit utilization timing can impact your credit score.

Then we get into the system side: cash flow management instead of restrictive budgeting, practical ways to attack consumer debt using the snowball method or avalanche method, and why discipline often matters more than knowledge. Scott explains the thinking behind a gamified personal finance app, the “passport” journey with progress badges, and Penny, an AI financial coach designed for education, guidance, and accountability without replacing the human relationship. We also touch on planning for families with special needs and why both spouses should be involved in financial planning.

If you’re ready to feel calmer and more in control, listen now, share this with a friend who needs it, and subscribe so you don’t miss what’s next. After you listen, can you tell us the one money habit you want to change first?

Financial Fitness As Hidden Stress

SPEAKER_02

When we talk about living a full vibrant life, we often focus on physical health and mental mindset. But there's a quiet stressor running in the background for millions of people. Financial fitness. My guest today, Scott Zuckerman, is changing that narrative. He's a veteran financial strategist holding four top-tier national designations. And he's the founder of Financial Fitness Passport, a platform transforming how individuals, advisors, and companies approach financial health. After decades in the financial industry, Scott realized that people don't just need more spreadsheets. They need a clear, actionable system, real-time feedback, and the behavioral tools to turn financial knowledge into long-term vitality. Whether you're feeling overwhelmed by financial noise or looking to optimize your family's future, get ready. Because we are diving deep into how to bridge the gap between knowing what to do with your money and actually taking control of your future. Due to expire, let's welcome Scott Zuckerman. Now, let's grow.energy. That's no negative, all one phrase, dot energy. Well, we have Scott Zuckerman here, right here on the Do to Expire podcast. And we are uh just elated to have you here, Scott. Welcome, welcome.

SPEAKER_00

Thank you. Thank you so much. Uh appreciate it, Corey.

SPEAKER_02

Oh my goodness, man. We we've been waiting a little bit to do this. Uh, you know, to for the audience, I got a chance to know Scott briefly, and uh, we had a wonderful conversation. I wish we were recording then, uh, but we got some good stuff for you today, uh, as a matter of fact. And so uh Scott, we want to just uh kind of jump right into this. I I was looking at the site and I was looking at you know the things that you do, and to me, um you bring an exciting element to the financial world. Uh so how would you describe what you do as an unusual financial advisor?

SPEAKER_00

Well,

Comprehensive Planning Without Leakage

SPEAKER_00

if we talk about my personal practice for a minute, um twenty this is my 21st year uh in financial services, running a comprehensive planning firm. So while most advisors are typically focused in one area, whether it be insurance or investments, there aren't too many who put it to all together where you're looking at all aspects from cash flow, insurance, investments, retirement planning, estate planning, debt management. I mean, it all encompassing. And the problem is that when you're disjointed, it creates a lot of leakage. And uh that makes it difficult to actually get clear results. Uh so I've spent the last 20 years consistently building, refining the process. Uh and that'll continue to evolve just as our lives do. So uh that's that's what I do in my personal practice, and that's also how I built out financial fitness passport uh with that same mindset that when we're gonna educate the public, they should be educated properly. And that is understanding every single aspect of your financial life, getting educated on it, and figuring out exactly how it all works together.

SPEAKER_02

You know, with that amount of experience, I know that you are really helping a ton of people, but there are a lot of people who are really intimidated by finances and financial counselors. And there's a lack of trust, really, to be honest. And people are scared to say, you know, if I give this company or my my money to this person and and allow them to utilize it in the way that they see best, um, am I gonna lose it all? Or, you know, you know, people keep money under the pillowcases or in the pillowcases or under a mattress because they don't trust banks or anything. How can we get people out of that mindset and and be more trusting with people like you?

SPEAKER_00

Well,

Building Trust With A Fiduciary

SPEAKER_00

the first thing is I think an advisor whose credentialed is important. So whether that be a chartered financial consultant, such as myself, a certified financial planner, uh, that's certainly one way. Uh the other is finding an advisor who acts in fiduciary capacity, which means that they must work for the benefit of the client instead of themselves. Uh so I think the combination of both of those things is where the trust starts. Uh, but what I tell my clients is there's really no implementation to the end. So if you're doing planning the right way, it's you're building the relationship along the way. I'm getting to know exactly who that who the client is, what they're looking to accomplish, what they have, the as it relates to not just physically, right? Like what they've accumulated, uh, but their experience and knowledge. Well, what what have you done? How have you learned? How have you made the decisions in your in in the past? So it's the subjective, the objective, uh, really getting to know that person, and that's where the trust is built. So then when it comes time to making recommendations and implementing those recommendations, uh, there's that solid foundation of trust at that point.

SPEAKER_02

You know, Scott, I I I have a financial advisor and uh I've had one for a little bit now. And when I look at um that first step towards getting that, you know, for me, it was difficult because I knew I was going to be told uh that you know, there's some things that you may have to stop doing, or you know, if you want to uh increase your financial future, um, you're gonna have to stop maybe spending money in this area. Now, if you if you want to do that, that's up to you. But you you want the best yield possible. And I I was I I was and I still am one of those, you know, we gotta live now, right? The urgency of living now, you know, we're due to expire. And and some people have that mindset to the point where they don't plan at all for the future. Now, I'm I'm not like that. I want to plan for the future, but also want to live now. Uh, how do you, as a financial advisor advisor, help people like me to live now and also plan for the future?

Living Now Without Wrecking Tomorrow

SPEAKER_00

Look, I'll use myself as an example. I think everything that you do is fine in moderation. First of all, I don't put clients on budgets, just as an example. I don't believe in budgeting. I believe in proper cash flow management. And I think those are two completely different things. And when it comes to living your life, uh, yes, you want to live your life. You don't want to overspend, you want to put money aside for the future so that you aren't in dire straits when you're uh when you get older. Uh, and think about it from the standpoint of wanting to enjoy the fruits of your labor. So as long as you are doing something and have a plan in place, there's nothing wrong with living your life today. Uh, because we don't know what tomorrow is going to bring.

SPEAKER_02

That's true.

SPEAKER_00

Uh and um I I live by that and I practice what I preach, and um I think everything is fine within reason.

SPEAKER_02

Uh you know, I I I love that. I may have to um, you know, switch over to you. Hopefully, my financial advisor doesn't hear this. But uh so so Scott, where where are you located? Because I want people to know where you are. I know we can find you online, but you know, what what what's your location?

SPEAKER_00

I am in New York, Long Island, or the or should I say Long Island.

SPEAKER_02

I love it. I love it, you know. New York, the state of New York is one of one of my favorite places to visit. Uh and you can end up spending a lot of money in New York, I'll tell you that. New York City proper, you know, and all of the Manhattan. I mean, it is it is crazy, you know, some of the prices. Um

Credit Cards Rules That Protect You

SPEAKER_02

and and and so with that being said, what is your advice to people who use credit cards to have a great time? I mean, we I love this.

SPEAKER_00

I love this question. Hold on, I guess I got something here.

SPEAKER_02

All right, all right.

SPEAKER_00

All right. So this is a book that I wrote during the pandemic.

SPEAKER_02

All right. Don't be a financial disaster. Okay. Right. All right, yeah. Get that book, everybody. Don't be a financial disaster.

SPEAKER_00

Don't be a financial disaster, right? So I wrote that during pandemic. And there's a part in there that I specifically talk about this. It's the American way. It's called credit and forget it. Right?

SPEAKER_02

So until the bill comes.

SPEAKER_00

Exactly. But that I'll tell you, credit cards are the devil. The banks prey on it. Uh, and I will say you don't buy what you can't afford. I'm all about using credit cards. I put everything on a credit card, especially with fraud and all this kind of stuff. Right. I think debit cards are the worst because you get somebody, get someone gets your their hands on your debit card. That's a much more difficult battle to fight than when it's on a credit card.

SPEAKER_02

That happened to me recently, my friend. Just happened recently.

SPEAKER_00

It's horrible. It's horrible. So I'm all about the credit card, especially if you like to accumulate miles or cash back and what have you. But you gotta pay the bill 100% in full every single month. Uh, and also not wait until the due date, right? It's 30 days, you're 30 days behind. So what people don't realize is it's at the point that that bill comes out within the time uh that comes out and the payment is due, it that it the balance is recorded to the credit agencies. So if you actually pay the card before the due date, even if you pay it, well, you pay it when the bill, the cycle ends rather than waiting the 30 days to pay it, that's also gonna help. Now, that being said, um, and this is it's so counterintuitive, right? The way that you get a high credit score is by having charging a lot and paying a lot off. Right.

SPEAKER_02

That that's what they say, and we we get caught up in that trap.

SPEAKER_00

Uh exactly. And that's how you get caught up in the trap. But where the trap really lies is carrying that balance because the interest will just bury you.

SPEAKER_02

Well, uh a lot of us know about that, my friend. Too many of us, as a matter of fact. And then, you know, you're offered loans to pay off credit cards. Consolidate. Right. To consolidate, pay off. Um,

Consolidation Loans And 0% Traps

SPEAKER_02

what do you think about that process? Because I I know some people who've done that. I've done it, you know, a a time or two in my life where I've gotten, you know, a consolidation loan uh and then begin to pay that off. Is that a smart way to do that?

SPEAKER_00

I'm just going to say this. It depends. Everybody's situation is different. If you can consolidate at a lower interest rate and really make a dent and you're being diligent about it, sure.

unknown

Okay.

SPEAKER_00

What you don't want to do is take out these loans, still make minimum payments, because then you're just all you're doing is having that interest compound, but just at a lower rate. So it doesn't really do anything for you. If you're going to do the consolidation at a lower interest rate, or even go so far as take a promo offer on a credit card, 0% for 24 months. Sure, do that, but don't pay make the minimum payment because then 24 months later, you're in the exact same spot.

SPEAKER_02

Right.

SPEAKER_00

And who knows if you could get 0% again.

SPEAKER_02

Exactly. You know, when we look at um, you know, finances in general uh and life in general, we know that money impacts a lot of what people do. It impacts their mood, uh, it impacts what they're able to do, how they're able to move about, what they're able to buy. Uh and so with you being in the business that you're in, and which is helping people, as a matter of fact, before I go to that question, what intrigues me is the name of your company, Financial Fitness Passport.

Why Financial Fitness Needs Gamification

SPEAKER_02

Can you explain to our listeners why you chose that particular name?

SPEAKER_00

Okay.

SPEAKER_02

Uh oh. Long pause there, ladies and gentlemen.

SPEAKER_00

No, so I get asked this all the time, and it's I think creative. So financial wellness has been a topic that is has been around forever. People talk about financial wellness. Uh, I wanted to add an additional element onto financial wellness because the way the financial fitness passport application was created was to make learning fun, engaging, uh, and hold you to the process, right? Make you take action. Right. Um, which is the gamified part of it. So it was like, how do I, so I I know financial wellness, we all want to be fit physically, financially, emotionally, right? That that's a part of it. But how do you bring in that gamification? Um, and it's like, okay, financial fitness, gaming fight, right? Like, right, how do you how do you come up with a a name? The reason why I chose passport was we unlock badges within the system. So you start out, you unlock bronze and you earn your bronze badge, your silver, your platinum, you're progressing through. You're it's look at it as a destination, a financial destination that you have. Back in the day, you would travel to different countries and bring your passport, and they would stamp it. They don't even stamp your passport anymore.

SPEAKER_02

And that makes me mad.

SPEAKER_00

It makes me mad. It's so disappointed. I want the stamp. Exactly. I want the stamp on my passport. So that's where it came from. This is your journey, it is your financial journey with financial wellness, and that's where the financial fitness passport came from.

SPEAKER_02

I absolutely love it. And I'm wondering, why didn't we learn more about this in this way in school? You know, it's it's it's one of those things that they don't teach you. No, they teach you about garbage. So, what's your theory on that? Why are we not teaching the younger generation in school about how to be financially fit and not get caught up in the rat race?

SPEAKER_00

I don't know the answer to that because if I were in charge of the education system, finances would be right in there. I mean, these kids graduate from college, they just they don't even know how to write a check.

SPEAKER_02

Thank you.

SPEAKER_00

Uh I mean, it's it's insane. So, uh and then you know what happens? The minute someone turns 18, they start getting offers for credit cards in the mail.

SPEAKER_02

Automatically, yes.

SPEAKER_00

They they poison you right out of the gate.

SPEAKER_02

Yeah, and and you know, kids take it, especially if they're gonna go to college, and maybe their families can't afford for them to go to college or they can't get some of the things that they want, but they want to get them right away, you know, and so instead of waiting, hey, I can use this credit card, but they don't understand the danger that they get themselves into. Uh,

Debt Payoff Plans That Actually Work

SPEAKER_02

and so I I'm curious, have you dealt with someone who was just so riddled with uh debt? And and and if you have, how did you help them to get out of that situation?

SPEAKER_00

So I think this is also one of the reasons why I built financial fitness passport. I have a very extensive debt module that's built into the platform. Okay. There's two methodologies behind paying debt off. There is what's called the snowball method, and then there is the avalanche method. Okay. They both work. Uh so what I typically do is I have the client choose, and they have to stick to a plan to get that debt paid down because consumer debt really does swallow you. Uh and I'm I will tell you, I have clients, I have a woman who's in her 50s with a very, very successful doctor and still has medical school debt. Wow. Now, look, she's extremely successful. Uh like you said, with the credit cards at turning 18. It's like, okay, I need to survive. How am I gonna do that? Well, I'm gonna survive on credit cards, I'm gonna survive. I I need my student loans, what have you. And this is why people have such a difficult time um trying to live their life to the fullest um when they have this debt that is just completely bogging them down. And I'm not going to tell anybody not to go to law school or medical school or anything like that. Um absolutely. We we need professionals and we need people to take out debt, right? In order to, in order to do so. Um I just think that like anything else, you have to say, okay, this is how much debt I'm gonna have. This is the income that I'm going to have. And I need to have a plan in place from day one where X percentage of my income is gonna pay down that debt as quickly as possible. And if you can do that, as much of a struggle as it is early on, you'll feel the benefits of that and reap the benefits of that so much more in the long run than just consistently having that feeling of I'm just never going to pay these loans off or the credit cards, or whatever it may be.

SPEAKER_02

You know, when I think about fitness, and you talked about this earlier, you know, I'm an advocate of working out. I love working out, uh, I love eating well. So I

Discipline Bad Habits And Getting Around To It

SPEAKER_02

think about my health, you know, fitness in that area, physical fitness, and you know, also financial fitness. The thing is, is that there's one word that comes to mind in all of those areas, and that's the word discipline. And not enough people have it. And so, you know, I know that. One of your goals is to help people to develop that discipline. Why do you think it's so difficult to have discipline in the financial area?

SPEAKER_00

It's bad habits. And the bad habits start early. And then once you have bad habits, like anything else, it becomes very difficult to stop. It becomes your way of life. So and I I I mean I hate to say this, Corey, but I think most people are also lazy.

SPEAKER_01

Yeah.

SPEAKER_00

And when you're lazy, that also makes it more difficult to uh have that. I'm gonna call it self-discipline.

SPEAKER_02

Yes.

SPEAKER_00

Uh, you know, there's there's a uh I I don't know if I have one here. Let's see. No, I don't have one here at my desk. I usually do, but it goes to this uh exact topic we're talking about. I have a little wood disc and on it, the front of it, it says to it, T-U-I-T. And I go around and I hand them out. It's sometimes in place of a business card. People are like, what is this? T-U-I-T, to it, like they can't figure it out. And I'll tell them if I'm networking as an example, I'll say, Well, I'll tell you what, you know, you want to get together, let's see how we could potentially refer business to one another. Um, so when you get around to it, get back to the office, you let me know, and I hand it to them, and that's my round to it.

SPEAKER_02

Oh, okay, got it.

SPEAKER_00

So it's the same thing. So I I legit, I've had prospects come into my office uh and they'll sit with me and I get to know them. I'll say, Yeah, I just I just have I know I've been needing to do this. I I just never got around to it, and blah, blah, blah. And I'll slide a chip across the table and I'll say, Well, now you have a round to it so we can get started.

SPEAKER_02

I love it. I'm gonna steal that one from you.

SPEAKER_00

Yeah. So, you know, that's the whole thing. So yeah, why is it difficult? Because it's just human nature. Yeah. Uh, and it's it's way more easy to be lazy than it is to develop self-discipline and get into good habits.

SPEAKER_02

You know, and I I've do you think that that's an American trait or you know, a human trait in general?

SPEAKER_00

No, I I definitely think it is uh an American trait. Uh I've I do a lot of traveling, and uh in my travels, uh I would say I'll give you an example. Last summer, uh, we traveled to Croatia and Slovenia, okay, and our tour guide spoke seven languages fluently. We're the only country that for the most part only speak one language. Yeah, they're like, Yeah, they make uh they make us take language in in uh high school, uh, but the reality of it is most people don't stick with it. And right after they're finished taking their Spanish, Italian, French classes, it ends there. Uh, you go to other countries, you're forced to learn from grade school, yes, multiple languages. So that's just I mean, that's just one example.

SPEAKER_02

Yeah, and and and that creates discipline in someone's life. For sure. You know, my wife and I had the opportunity to go to Aruba, and it was the same thing. It was four languages, they could go bounce between all the languages. Uh, and it had a lot to do with the fact that, you know, being a tourist destination, uh, that's how they made their money. They had to be able to speak English to English people, English-speaking people, right? I mean, that just makes sense, right? Uh but in the long run, it also shows the capability of human beings. And and, you know, it goes back to what you said earlier, that lack of self-discipline, uh, the conditioning uh by schools, uh, the laziness at times, uh, puts us in a position not to really push ourselves to see the beauty and the power that we have in our brains and in our hearts. And so um, I appreciate you saying that because I've witnessed that myself, and it is just phenomenal to witness.

AI Coach Penny With Guardrails

SPEAKER_02

Um, I want to talk a little bit about the elephant in the room for some of the listeners who uh may have jumped on to your website or looked you up while listening to this, and they're gonna see two letters uh that strikes fear in most human beings today, especially when it comes to finances. AI. You have a very robust AI platform, and you personalize financial guidance, but in a way where you state you really don't lose the human element. Tell me, how do you balance that part of your business? Because people look at AI and they say, Well, this is all computers, uh, I would rather talk to a human being. Uh, but what does AI do for people on your platform and how does it really help them?

SPEAKER_00

So, first off, the my AI agent, her name is Penny. Yeah, Penny. Yeah, and and Penny is uh trained very, very specifically on what she can and can't say.

SPEAKER_01

Okay.

SPEAKER_00

And she can never replace the recommendations that a financial advisor can provide to their client. They she can't replace the relationship that a financial advisor provides to their clients.

SPEAKER_02

Right.

SPEAKER_00

It's very difficult to have. I I mean, I people who knows what's gonna happen in the future as it relates to, you know, like you have a relationship with a computer, you know, like what's that relationship?

SPEAKER_02

There's been movies made about that, you know.

SPEAKER_00

Exactly. Movies about that. Um but in in this case, Penny is there to offer education and guidance and help hold the user accountable through the process.

SPEAKER_01

Okay.

SPEAKER_00

And that's the difference between uh what she does or like her capability uh and the human element. Uh people come into my office or call me because they want to have human interaction, they want to speak with me, they want me to help them make decisions and make recommendations. Penny is trained never to break any what we call FINRA. So FINRA is the governing bot, one of the governing bodies. Um, most people mostly people don't know that. Most will hear the SEC. The SEC is the big bad wolf. Um, so FINRA knows never to break the Fin any FINRA or SEC rule. She will, she knows where she where her education and guidance starts and ends. So that I think is uh also the power of AI is how someone like myself can even develop a software like this and say, yeah, I'm not afraid of AI replacing me. Penny is not going to replace me, but I'll tell you, she's a great sidekick.

SPEAKER_02

Oh, that is awesome. It's probably one of the best ways I've uh witnessed someone define the usage of AI in their business because she's not there to replace you, but to enhance what you do. Uh but once again, she cannot replace that human element, and you've made sure of that. And I and she can't have a great conversation like this, I tell you that. Uh so anyway.

SPEAKER_00

I was talking to a developer who reached out to me, and the developer was like, you know, what we do is we our AI chatbots um are actually uh they're they're realistic, where um it almost looks like you're speaking to a person, and each user can customize it. So for example, uh if Penny was a female, a male, the user can go in and be like, yeah, well, I want them to look like this and sound like this.

SPEAKER_01

Okay.

SPEAKER_00

And so they were trying to get me to kind of implement that. And I'm like, see, that for me is where I kind of draw the line. Um that's not what Penny is about. And that's why also Penny is almost, I have made her a mascot. Uh so you'll if you see any of our advertising and things like that, uh, Penny will have arms and legs and but she doesn't she doesn't have her whole body is just round. Like right.

SPEAKER_02

She does not look look human.

SPEAKER_00

She doesn't look human. She's a character.

SPEAKER_02

Right.

SPEAKER_00

Uh and I think that's important.

SPEAKER_02

It really is to people. I think it helps them to ease into the usage of uh Penny as opposed to looking at this person who's a fake person. Uh, and sometimes you can really tell this is an AI person, and and and that brings a lack of trust to the entity, I believe. Uh just say what it is and don't try to fool people, right? Uh so I, you know, I I looked at at your your site, and and if you go to um the financial uh fitness passport website, you'll see uh a lot of letters behind Scott's name. Uh you'll

Planning For Families With Special Needs

SPEAKER_02

see many, many letters associated with him, but there's one that stuck out to me that I want to ask you about, and that is the CHSNC or the Chartered Special Needs Consultant. What is that?

SPEAKER_00

So one of the people who was very influential in bringing me into the financial services space uh had a uh son with a disability. Okay. And he had mentioned to me, you know, one of the things that you may want to consider is helping people of children with disabilities because they are completely lost, as lost as your average person is, when you're navigating uh government benefits and schools and all this kind of stuff when you have a child with a disability, it becomes that much more difficult. Uh and at the time, the American College, a couple of years later, came out with a designation called the Chartered Special Needs Consultant. And I decided that I was going to sign up to get the designation and be in the inaugural class for the designation. Uh, so that's about 15 15 years ago at this particular point. Uh and uh it's something that I believe in. Uh it's a niche area of planning, and it's extremely rewarding. So um I love it. Yeah, that's that's how that came about.

SPEAKER_02

Wow. So, you know, I don't know if you heard the the passion in Scott's voice and explaining that. I I was looking at him here, and um, you know, I appreciate you sharing that. That really came from your heart, you know, as it relates to uh that work um with a wonderful group of people um and helping them through uh the process in life, uh the process of life. And so I appreciate that, Scott. Um and that's the human element, ladies and gentlemen, that we're talking about. Um, you know, the numbers game is not all about numbers, it's about helping human beings uh to become better at what they do and more efficient in how they live and um from all walks of life, is what I'm hearing. So uh, you know, I'm gonna ask you for a couple takeaways here, Scott, uh as we as we um begin to wind things down here on this first time of uh you being a part of the Do to Expire podcast. Um

Cash Flow Over Budgeting

SPEAKER_02

for a listener who's out there right now who feels just completely completely overwhelmed uh by their financial situation, what is the single most effective first habit that they should audit or change today?

SPEAKER_00

Number one thing is to examine your cash flow and not think that you have to live on a budget. I think budget is a bad word. Think about how companies run. Um companies run profit and loss, balance sheet, what comes in, what goes out, right? Yes, do they budget? Do they have uh entertainment budgets, this budget? Sure. But at the same time, what is your profit and loss? And the reality of it is that at the end of the month, you want to show a profit, right? And the way that you're gonna show that profit is by managing the cash flow properly, and it's much easier than you may think. Here's the reason why there are two types of expenses fixed expenses and variable expenses. The fixed expenses don't change, right? If you have a mortgage, it's the same mortgage payment every single month.

SPEAKER_02

You know it's coming.

SPEAKER_00

You know it's coming. If you have a car payment, it's the same payment every single month, right? All that. So what you have to do is you have to say, okay, these this is my income, this is what I net. Here are my fixed expenses. Write them down. These are the expenses that must get paid no matter what.

SPEAKER_02

Right.

SPEAKER_00

Anything left over is what we call variable. Now, before we start going and spending all that variable money, so to speak, on nonsense, look, okay, I I like to go out for dinner. I like to go to uh um a show. Right. No one's saying that you can't do that. Um, your variable expenses. I'm gonna put groceries in there as a maybe, because yes, prices at groceries will fluctuate, go up, go down. You have an idea. Uh, every time you go to the grocery store, unless there are some other things that you need, you kind of have an idea of what approximately you you're gonna spend there.

SPEAKER_02

Right.

SPEAKER_00

Um and a portion needs to be put aside for savings, emergency savings, the for the future. Uh maybe you're already saving for the future in a company retirement plan like a 401k. Okay, great. That's all that's for savings already coming out of the paycheck. But if you look at it that way, looking at cash flow from that perspective, versus saying, okay, here are here are my uh, these are the line items, this is how much I'm budgeting for each one, that's that's way more difficult and emotionally taxing than actually saying, okay, I'm gonna examine the cash flow, I'm gonna look at what my profit and loss is each month.

SPEAKER_02

So a budget kind of restricts you, right? It it it tightens you up, so to speak, and it doesn't allow you to really live. Uh, but when you're able to face exactly what you have to pay out each month, it it actually frees you up. Exactly to do the things that you would like to do because you know what you have in order to do it. So I like that philosophy and that approach. Uh, that's something I'm gonna adopt, and I'm gonna ask our listeners to really think about that uh too as well. Uh because I've always been hit with we gotta have a budget, we gotta make a budget, we gotta put a budget together. And the way that you just explained that is really just examining your cash flow. What's coming in, what's going out, and you know, from there, with the fixed um expenses, you can manage your life better, knowing what you have to pay and you should pay. Get that done, right? Exactly, right? You want a roof over your head. You got it. Exactly.

SPEAKER_01

The rent is due, the mortgage is due.

SPEAKER_02

I love it. I love it, Scott.

The Household Numbers That Matter

SPEAKER_02

Well, you know, when when when you look down the road, um, you know, when a person looks down the road at the ultimate vision for uh their lives, and when you look down the road, and let me let me address you on this. When you look down the road for financial fitness passport, and you look down and you say, Um, I want to have this type of impact on people, what does a world where people if everyone were to come to you for financial fitness, just say that, that'd be a beautiful thing, right? But if they came to you for financial fitness, what would the world look like in your eyes if they took on your tools and your strategies for better financial fitness?

SPEAKER_00

Uh I that that's the reason why I built this. Uh, I feel that everyone is put on this earth for a reason. Uh and I help people. I am extremely passionate about what I do. It's so rewarding when uh I have clients for 20 years and now I start to see them retire, and they can and they all they just thank me. Uh and it's it's a really great feeling to have. Uh and my goal with financial fitness passport is to educate the public. Everyone knows what their credit score is. Well, you should know what your financial fitness passport score is. It should become a household, uh, a household number. You you should know what your retirement number is, which is also part of financial fitness passport. You know, so what's what's your credit score? What's your financial fitness passport score? What's your retirement number? Those three things are really important. And if people knew that, uh, I think they'd make much better decisions. Uh, they'd go to work happier, they'd have happier marriages.

SPEAKER_02

Yes.

SPEAKER_00

Uh you know, uh I love that.

SPEAKER_02

Because a lot of marriages break up because of what?

SPEAKER_00

Look, two things, right? It's sex and money. That's what breaks up marriages, and it is true. And I think that with a tool like financial fitness passport in everybody's hand where you can sit down and everyone be on the same page, because you also have where one spouse may handle the finances, right?

SPEAKER_02

Yes.

SPEAKER_00

It also doesn't have to be that way, and it shouldn't be that way. If I ever have a client that calls me and says, Look, uh, my wife's not going to be on the call or my husband's not going to be on the call today, um, I say, Look, we need to reschedule. Um so it it's so important that everyone's on the same page. And this tool helps people do that.

SPEAKER_02

You know, I like that, bringing families together uh to go over their finances and not just one person, uh, because then that puts the relationship uh, I believe, in jeopardy. Uh when just one person is handling things and the other things.

SPEAKER_00

It also builds resentment, right, Corey? Exactly.

SPEAKER_02

Scott, you know, I know what you're talking about, my friend. Been there and done that, to be honest. And so it's important that um all parties are involved in the financial planning process. So

Where To Start Website And Book

SPEAKER_02

um listen, everyone, I need you to go and check out Financial Fitness Passport.com, right? And I need you to check it out and and and here, I'm I'm gonna list some things here. Um you need to learn your passport score. You're gonna find that out on the website. You're gonna meet Penny, your AI coach, um, on the website, uh, and you can get a retirement number. Um, these are things that you can learn, and you can get a multi-pillar approach to financial planning. Those are just some of the things that you can find on Financial Fitness Passport. And you might even run into my friend Scott, uh, who's able to chat with you a little bit on there too as well. Uh, but Scott, listen, today um I want to thank you for being a part of this podcast. Uh, what's the name of your book again? Because we want to we want people to grab that.

SPEAKER_00

The book is Don't Be a Financial Disaster.

SPEAKER_02

Listen, if if that doesn't hit you, I don't know what will. Don't be a financial disaster. Uh that's a great way to end this podcast today. And so, Scott, thank you. We wish you much success. And um, listeners, please take to heart the things that Scott shared with us today. I believe that they can really help all of us to become financially fit. With that being said, that's it, my friends, from the Do to Expire podcast. I'm your host, Corey Kenak.