Flip and Danny from Freedom Real Estate Group discuss managing money through market cycles, sharing how they reassess expenses and boost income. They walk through buying a house and point you to past episodes on finance basics.
Hey, everybody. Flip and Danny here, founders of the Freedom Real Estate Group, family of companies. And welcome to another episode of our.
Podcast, which is called Freedom through Passive Income.
That's right. And this is Freedom Week.
Yes, Freedom.
I didn't do that.
I'm usually the one that does that too. I'm like, freedom.
And also now yesterday, so real quickly, just to let everybody know, now, yesterday was July 4th, so I wore my 4th of July shirt. And red, white, and blue, the flag. Right. Well, that's kind of normal for me to wear, especially on July 4th. But now it's July 5th. Why am I wearing this? Because it's birthday month.
That's right.
Every day, birthday month. You're getting a fun shirt, especially on Friday. So it's Fun Shirt Friday every day for the whole month in July.
That's right.
That's right.
And I didn't wear this yesterday, so it's kind of a.
But that's. That's a perfect freedom shirt.
Yeah, it's Freedom Week, so I'm trying. I don't have five Freedom shirts, but hey, I'll do my best.
That's right. So today's episode is on money management and financial education.
Yeah. So July 1st marked our halfway point of this 365 day series. And so we are doing a Freedom Week, which is five episodes of a recap of the five probably most common themes that we've had throughout the year. And we're going to talk very briefly about them, but then we're going to end the episode with our top five to ten episodes about that very topic. So on this episode, we're going to give you five or 10, most likely 10, because we talk a lot about money and financial management episodes that you can go back and you can just binge and learn a little bit more about a particular topic that you want to dive deep into.
Love it. It's funny, you said we're halfway through the series and I immediately thought of when we ran our first 5K.
Yeah.
And there's a halfway point. I was like, yes, I got this. But then I thought about our first 10k that we did in Chicago. And when we get to the halfway point, I'm like, I got another after goal.
I know we both wanted it to be over.
That was brutal. That was brutal. All right, so no.
Yeah, we recorded a lot of videos about financial and money management. And so I wanted to just touch base on the fact that with this new house that we're purchasing, we did it all over again. Right. And we really kind of decided, hey, this new house is bigger, it's more expensive. So it's now like increased our expense budget. So how do we just a little bit, what can we remove? Right? And right now, as we approach a potential recession, it's really a time where you want to be increasing your income and decreasing your expenses. So we bought maybe at the wrong time, but the right house popped up. And you know what? Because of the freedoms that we do have, we felt okay about going ahead and getting these, but it doesn't mean that we didn't reevaluate all of our money and decide on, hey, I'm taking this out, this out, this last. And you had a whole list, right, Danny, here's all the things. He color coded it on our Excel and said, these are the ones right here that we're going to eliminate. Here's the colors that I want to ask you about if we should keep or eliminate. And essentially we just trimmed down all the fat and we're actually working on a few things, things that are going to now increase our income. So super, super excited about that. So that's something you just want to be thinking about right now during this time so that you've got again, the freedom to be able to do what you want. Even as markets cycle and we go through tough times versus good times.
That's right. And I have the timing. I mean, I'm just horrible at timing. So I know interest rates go up and all this is happening. I found a house. So these are the episodes, right?
Yeah, these are the episodes. And we're going to share with you to be in the links in the podcast notes or YouTube notes, depending on how you're watching or listening to this.
Awesome. So episode three was how to increase your income and uncover the mattress money.
Yeah. And episode five was how do I get started building passive income streams.
Episode 26, top money myths.
Yes. Episode 29, investing in the value of time.
Episode 39, inflation profiting.
Yeah. And that's a good one to be listening to right now.
Right now.
Y episode 47, the truth about 401ks from a retired financial planner.
Then episode number 59, top two skills you need to know about money and building wealth.
Episode 65, Should I Pay off debt or invest my extra cash?
Episode number 120, the rule of 72. And 115.
Sorry, 115. Sorry about that. Episode 124, how to avoid losing money.
Did I miss that episode? Episode number 136, why Rich People Love Debt.
And episode 137, right after that was need money to make money. We got $100,000 doing this.
Yes. And then last one is episode number 159, become an accredited investor for under $200.
That's right. So if you want to binge watch or listen about the topics of money management and financial education that we've already recorded throughout the year, they will be in your podcast notes or the YouTube description.
Right. Or if you're an Apple podcast, you can just go scroll. There's the episode right there.
And yeah, there you go.
Well, hey, make sure you're heading on over to our website, freedomcapitalinvestments.com to join our investor club. And also, if you haven't heard, we now have swag on there. And again, we don't make any money on the swag at all. So I want to make sure everybody knows that it's not for profit at all. Any. Any money that we do get from that goes directly to charities.
Yes.
So, but make sure you're heading on over there. Make sure you're hitting the heart button and the like button and the bells and the whistles and all that stuff. And we hope that you are enjoying all our episodes, but we like to end every single episode with invest smart, Live happy.
Bye, everybody.
Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax, legal, real estate, financial, or business professional for individualized advice. Opinions and information on this show are not guaranteed. All investment strategies have the potential for profit or loss.
Sam.
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