Is your daily spending secretly costing you your financial freedom? This episode reveals how to build real wealth and why you should NOT hire a financial advisor until you hear this.
In episode 37 of The Wisdom of Wrench Podcast, host Kevin Comerford sits down with 30 year financial expert Don Garman to share the core concepts of personal finance for home service pros. They break down how to manage your money, the right way to navigate debt, and how simple saving habits can make you a millionaire.
If you have ever felt overwhelmed by the stock market or unsure where to start with investing, this conversation provides a clear path forward. Learn the simple, powerful habits and the mindset required to build lasting security and freedom for you and your family. Watch the full episode to take control of your financial future.
Subscribe to the WOW Podcast:
Spotify: https://open.spotify.com/show/0UvJLcLFL03vKiLpd1xN45?si=PRBF-DwYR_uDtfRB8hIsLg
Apple Podcasts: https://podcasts.apple.com/us/podcast/wisdom-of-wrench-podcast/id1792919657
🔧 Wrench Group: https://www.wrenchgroup.com
🔧 Wrench IG: https://www.instagram.com/wrenchgroup
🔧 Wrench FB: https://www.facebook.com/wrenchgroup
🔧 Wrench LinkedIn: https://www.linkedin.com/company/thewrenchgroup
Chapters:
0:00 - Don't Hire a Financial Advisor Until You Do This First
0:51 - Why Financial Literacy Is Critical for Home Service Pros
2:25 - Meet the Financial Expert with 30+ Years of Experience
4:11 - The Journey from College Grad to Financial Expert
6:14 - Is Building Wealth Simple? The Diet & Exercise Analogy
7:56 - A Surfer & Rockstar's First Lesson in Money Management
9:08 - The Surprising Way We Became Friends (And Business Partners)
12:31 - Why I Told My Future Financial Advisor: "Let's Just Be Friends"
14:28 - How Trust Is The Most Important Factor in Finance
14:55 - How Financial Health is Exactly Like Physical Fitness
15:57 - The "Crawl, Walk, Run" Approach to Investing
17:11 - What is The True Definition of Financial Freedom?
18:36 - The Harsh Truth About the Stock Market
20:30 - What Is the "Rule of 72" and How Can It Make You Rich?
25:05 - Why Learning Finance is Like Learning a New Language
26:21 - What to Do BEFORE You Hire a Financial Advisor
29:12 - How to Track Your Spending (The Right Way)
30:40 - The "Two Account" System for Effortless Budgeting
32:36 - Are You Using Debt Wrong?
33:30 - I'm 40 & Broke, Is It Too Late to Start Saving?
35:05 - How to Get Addicted to Saving Money
37:21 - The #1 Expense That Keeps People Poor
38:33 - Are You Going Into Debt for Depreciating Assets?
39:26 - What is "Strategic Urgency" and How Can It Make You Perform Better?
45:13 - How a Savings Muscle is Built
46:21 - A Controversial Piece of Advice for Young Men
48:41 - The 3 Challenges Everyone Will Face in Life
49:44 - When Is The Right Time to Hire a Financial Advisor?
53:37 - A Mentor For Financial Advice?
55:12 - Where Should a Beginner Start Investing?
57:05 - The Problem with "Emergency Funds"
58:03 - RECAP: 3 Core Concepts for Financial Success
1:00:21 - Get Comfortable with Being Uncomfortable
1:02:12 - Here's to a Bigger Future