Escaping the Paycheck to Paycheck Cycle | Phil Francois

Catholic Money Mastermind - Financial Planning conversations with Catholic CFP® Practitioners

Phil joins us from Foundation Wealth Planning in Salina, Kansas. He’s also a member of the Catholic Financial Planner Network, integrating his faith with his financial practice. With 8 years experience at a large financial firm, Phil left to start his own practice about 2 years ago. One of his major focuses has been to help families and businesses break the paycheck to paycheck cycle by tackling debt obligations, living expenses, and saving for the future.

In this episode, Ben and Phil discuss how to change your perspective on your finances, a variety of budgeting solutions, and how surprised you might be by your expenditures once you start budgeting. Phil highlights a few ways you can get the ball rolling, motivating you to keep going. If you’re wondering where your paycheck is going and want to learn how to get out of this cycle, this episode is for you.

Key Takeaways:

• Take ownership and honestly consider your financial reality.
• Your situation isn’t always as bad as you might think - there’s a way out!
• The only way to know how much you’re spending is to track it.
• How keeping a budget can help you adjust to the rising cost of living.
• You need a plan for cutting expenses AND earning more money.
• How to use your resources to advance your financial goals.

Mentions

🌐 Website: https://www.foundationwealthplanning.com/

👉🏼 LinkedIn: https://www.linkedin.com/in/phil-francois1/

📚 Vertex 42: https://www.vertex42.com/

📚 EveryDollar: https://www.ramseysolutions.com/ramseyplus/everydollar

📚 Monarch: https://www.monarchmoney.com/

📚 Tiller: https://www.tillerhq.com/

📚 YNAB: https://www.ynab.com/

📚 WalletWin: https://walletwin.com/

📚 Catholic Compass: https://compasscatholic.org/

📚 Catholic Financial Planners: https://www.catholicfinancialplanners.com/

More of Catholic Money Mastermind:

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Catholic Money Mastermind Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.