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Track Your Expenses – Podcast #11 (Simon Fairbairn)

An Action Plan for Dreamers (click for details on how to subscribe) is a weekly 20-minute podcast where we provide practical and actionable advice about what it takes to create the life you crave. It’s short enough to listen on your commute or coffee break, but long enough to contain 3-5 practical steps you can take to make your dream life a little bit closer.

Show Notes

Regardless of what your big dream may be, there is a very good chance you will need to save some money to make it a reality. As we talk about in our book, Dream Save Do: An Action Plan for Dreamers, (you have picked up a copy already, right?) the first step in saving for your target is getting control of your current spending.

It’s your money, and you should know how much you have and how much you’re spending. - Dream Save Do (Tweet this)

Betsy and I dive into the steps you can take to identify where to cut back on your spending as well as share a bit of our story and how we approached the tracking of expenses when we first started to save to live our dream. It does require you to make choices, but when you commit to a dream the choices become that much easier.

In addition we are pleased to be joined by Simon Fairbairn, the developer of Trail Wallet, an iPhone application designed to help you track all your expenses at the moment you are paying. Simon discusses his experience of tracking expenses and shares with us the background to creating this application. Simon and his partner, Erin, also run the extremely enlightening travel website, Never Ending Voyage.

Trail WalletAction Plan Take Aways:

  1. Grab your bank statements, review all your monthly subscriptions and cancel what you don’t “need”
  2. Start tracking all your expenses, either on paper or using a great application like Trail Wallet
  3. Schedule regular reviews of your expenses

Sponsor Love

This week’s podcast sponsor is LearnVest.com. LearnVest’s mission is to empower people everywhere to take control of their personal finances so that they can afford their dreams. Take control of your money. Click here to join LearnVest today.

Listen to the Episode

Download episode #11

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Coming Up

On next week’s show we’ll be talking about resiliency and overcoming adversity as you go after the life you crave. We’ll be joined by Dr. Alex Lickerman to discuss setting expectations, surrounding ourselves with supportive people, and actions to help build our resiliency muscles.

You won’t want to miss this episode so subscribe to the podcast here.

Until next time, remember to take the first step and keep on moving.

For more step-by-step actions you can take to amass the cash you need to live your dream life, grab a copy of Dream Save Do: An Action Plan for Dreamers. We provide dozens of ideas and suggestions for saving, making, and raising the cash to live the life you crave.

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About Warren

Warren is passionate about trying new things and willing to say yes to a new adventure. He enjoys sharing his adventures through his love of photography. Warren finds that the most rewarding part of traveling the world is the people he meets and discoveries made through conversations. Travel fills his desire to learn more each day about the world around us and what drives other people to be happy. Drop him an email at wtalbot (at) marriedwithluggage (dot) com and feel free to check out his Google+ page.

Comments

  1. Great actions plan–keeping things simple. I’m also a big fan of that app!

  2. Great actions plan–keeping things simple. I’m also a big fan of that app!

  3. I loved this podcast and can relate! We are a couple from NYC that saved up for a year long round the world trip (we are two months in now!). We had to shift our mentality from what we wanted in the moment to what we wanted for ourselves in the long term. Those dinners out, daily coffees, and clothing hauls were making us slaves to our bi-weekly paychecks. It wasn’t an easy shift, but a strong motivation for me was equating what I was purchasing with travel days: what do I want more – this meal out for $70, or 2 days in Thailand? Now that we are actually traveling, we are even more conscious of what we are spending each day. We track each expense in a notebook that I carry around with me, it’s actually a fun thing for us. This experience has made me view money and my spending choices differently — I don’t think I’ll ever be the same!

    • Hey Kara,
      Thank you for sharing your own experience. Tracking expenses is a great way to see where it is all going and starting well before you start living your dream is key – as you all know well. It is great to see you all living the life you crave and that you’ve made a habit of knowing where your money is going.

      We happen to be heading to NYC at the beginning of July. We’d love to get your must do/eat recommendations for our 10 days there.

  4. I loved this podcast and can relate! We are a couple from NYC that saved up for a year long round the world trip (we are two months in now!). We had to shift our mentality from what we wanted in the moment to what we wanted for ourselves in the long term. Those dinners out, daily coffees, and clothing hauls were making us slaves to our bi-weekly paychecks. It wasn’t an easy shift, but a strong motivation for me was equating what I was purchasing with travel days: what do I want more – this meal out for $70, or 2 days in Thailand? Now that we are actually traveling, we are even more conscious of what we are spending each day. We track each expense in a notebook that I carry around with me, it’s actually a fun thing for us. This experience has made me view money and my spending choices differently — I don’t think I’ll ever be the same!

    • Hey Kara,
      Thank you for sharing your own experience. Tracking expenses is a great way to see where it is all going and starting well before you start living your dream is key – as you all know well. It is great to see you all living the life you crave and that you’ve made a habit of knowing where your money is going.

      We happen to be heading to NYC at the beginning of July. We’d love to get your must do/eat recommendations for our 10 days there.

  5. Awesome – you are going to have a blast! I am happy to give suggestions for NYC, I get homesick just thinking about it. With so many cultures and ethnicities crammed together in one spot, the food is the #1 attraction so I’ll start there:

    To Eat:
    1.) Rockmeisha (Manhattan, West Village). This cozy Japanese restaurant has a really cool vibe and the most amazing ramen. If you go, get ramen + some of their tasty appetizers. My favorite is the Goba/Burdock Fries. This place is in a fun neighborhood and great for walking around after.
    2.) Traif (Brooklyn). This may be my favorite restaurant in any boro. It’s a unique tapas restaurant that’s off the beaten path in Brooklyn. It takes some effort to get there, but worth the trip!
    3.) Snack Taverna (Manhattan, West Village). This Greek restaurant is amazing! The food is inventive and the hummus is so good. A little pricey, but really good.
    4.) Gyu-Kakuu (east village location) – Amazing, delicious Japanese BBQ. They grill it right on the table for you!
    4.) Dinosaur BBQ (Harlem) — This is all the way out in Harlem, but also worth the trip. Delicious BBQ, corn bread, mac and cheese…yum.
    5.) Eat in Astoria for the best food ever (Queens). Astoria is a 15 minute subway ride from midtown. It’s not as picturesque as Brooklyn, but you get delicious food without the manhattan prices. I wrote a blog post on my favorite Astoria restaurants – you can read it here: http://roamingkonos.com/post/45763583291/whyleaveastoria

    To do:
    1.) Walk the High Line (Manhattan) – this is a really fun park built on an old elevated subway track. Beautiful views of the West side and when you’re done walking you’re in a great part of town for having dinner or a drink.
    2.) Visit Brooklyn – Brooklyn is really beautiful, fun and not to be missed. If I was in Manhattan for 10 days I’d definitely spend at least two days exploring Brooklyn. Three possibly day trips to Brooklyn:
    Brooklyn Day 1 – Take the 4, 5, 6 train to Brooklyn Bridge/City Hall (in manhattan). Walk over the Brooklyn Bridge for amazing views of the city. Walk around Brooklyn Bridge Park. Explore Dumbo, Brooklyn Heights, Cobble Hills – some of the most beautiful neighborhoods in all of NYC. There are tons of places to get brunch, lunch, dinner, drinks, etc. Some favorites — Jake Walk (fondue/wine bar), Zombie Hut bar. You can also get pizza at Grimaldi’s in Dumbo near the brooklyn bridge which is very popular and good.
    Brooklyn Day 2 – Take the F train to the 7th Ave stop in Park Slope. Walk down 7th Ave and then cut over on union to walk back up 5th ave. Tons of great restaurants and bars along these streets. Explore Prospect Park which (my opinion!) is nicer than Central Park. Check out what’s playing at BAM (bam.org) and spend the evening watching some theater or music. They usually have cool things going on. They also have concerts at Prospect Park so check the schedule.
    Brooklyn Day 3 – take the L train to the Bedford Ave stop, explore Williamsburg. Visit Radegast (amazing beer hall with the BEST pretzels in the world) or get drinks at Berry Park, a fun bar with a large terrace upstairs. You could also walk to Traif from here for a delicious dinner.
    3.) Another great thing to do is just pick an area and explore it. I would visit the East Village, West Village, Chelsea, Gramercy.
    4.) If you want a good view of NYC at night, go to the Top of the Rock. It’s a bit touristy and pricey but the view is stunning at night. I like it better than the Empire State Building view.
    5.) Rent bikes and bike around central park
    6.) Times square is cool to see once (at night is the best) but it’s extremely crowded and annoying, so don’t linger too long here.
    7.) Visit Long Island City – another quick subway ride from midtown. Take the 7 train from Grand Central Station (also not to be missed!) to Vernon Blvd. Walk up Vernon Blvd and go to Gantry Plaza State Park for great views of the city and the iconic Pepsi Cola sign. Get a delicious, authentic Italian dinner at Manetta’s on Vernon Blvd.
    8.) Get pizza at Lombardi’s (touristy but good)

    Final tip – the subway goes EVERYWHERE, through all boros, and is the best way to get around. To figure out how to get from Point A to Point B, use google maps and select the “metro” option. It will tell you exactly what trains to take. The maps in station are also useful, if you get confused just ask someone.

    Hope you enjoy your trip! If you have any other questions, please let me know.

  6. Awesome – you are going to have a blast! I am happy to give suggestions for NYC, I get homesick just thinking about it. With so many cultures and ethnicities crammed together in one spot, the food is the #1 attraction so I’ll start there:

    To Eat:
    1.) Rockmeisha (Manhattan, West Village). This cozy Japanese restaurant has a really cool vibe and the most amazing ramen. If you go, get ramen + some of their tasty appetizers. My favorite is the Goba/Burdock Fries. This place is in a fun neighborhood and great for walking around after.
    2.) Traif (Brooklyn). This may be my favorite restaurant in any boro. It’s a unique tapas restaurant that’s off the beaten path in Brooklyn. It takes some effort to get there, but worth the trip!
    3.) Snack Taverna (Manhattan, West Village). This Greek restaurant is amazing! The food is inventive and the hummus is so good. A little pricey, but really good.
    4.) Gyu-Kakuu (east village location) – Amazing, delicious Japanese BBQ. They grill it right on the table for you!
    4.) Dinosaur BBQ (Harlem) — This is all the way out in Harlem, but also worth the trip. Delicious BBQ, corn bread, mac and cheese…yum.
    5.) Eat in Astoria for the best food ever (Queens). Astoria is a 15 minute subway ride from midtown. It’s not as picturesque as Brooklyn, but you get delicious food without the manhattan prices. I wrote a blog post on my favorite Astoria restaurants – you can read it here: http://roamingkonos.com/post/45763583291/whyleaveastoria

    To do:
    1.) Walk the High Line (Manhattan) – this is a really fun park built on an old elevated subway track. Beautiful views of the West side and when you’re done walking you’re in a great part of town for having dinner or a drink.
    2.) Visit Brooklyn – Brooklyn is really beautiful, fun and not to be missed. If I was in Manhattan for 10 days I’d definitely spend at least two days exploring Brooklyn. Three possibly day trips to Brooklyn:
    Brooklyn Day 1 – Take the 4, 5, 6 train to Brooklyn Bridge/City Hall (in manhattan). Walk over the Brooklyn Bridge for amazing views of the city. Walk around Brooklyn Bridge Park. Explore Dumbo, Brooklyn Heights, Cobble Hills – some of the most beautiful neighborhoods in all of NYC. There are tons of places to get brunch, lunch, dinner, drinks, etc. Some favorites — Jake Walk (fondue/wine bar), Zombie Hut bar. You can also get pizza at Grimaldi’s in Dumbo near the brooklyn bridge which is very popular and good.
    Brooklyn Day 2 – Take the F train to the 7th Ave stop in Park Slope. Walk down 7th Ave and then cut over on union to walk back up 5th ave. Tons of great restaurants and bars along these streets. Explore Prospect Park which (my opinion!) is nicer than Central Park. Check out what’s playing at BAM (bam.org) and spend the evening watching some theater or music. They usually have cool things going on. They also have concerts at Prospect Park so check the schedule.
    Brooklyn Day 3 – take the L train to the Bedford Ave stop, explore Williamsburg. Visit Radegast (amazing beer hall with the BEST pretzels in the world) or get drinks at Berry Park, a fun bar with a large terrace upstairs. You could also walk to Traif from here for a delicious dinner.
    3.) Another great thing to do is just pick an area and explore it. I would visit the East Village, West Village, Chelsea, Gramercy.
    4.) If you want a good view of NYC at night, go to the Top of the Rock. It’s a bit touristy and pricey but the view is stunning at night. I like it better than the Empire State Building view.
    5.) Rent bikes and bike around central park
    6.) Times square is cool to see once (at night is the best) but it’s extremely crowded and annoying, so don’t linger too long here.
    7.) Visit Long Island City – another quick subway ride from midtown. Take the 7 train from Grand Central Station (also not to be missed!) to Vernon Blvd. Walk up Vernon Blvd and go to Gantry Plaza State Park for great views of the city and the iconic Pepsi Cola sign. Get a delicious, authentic Italian dinner at Manetta’s on Vernon Blvd.
    8.) Get pizza at Lombardi’s (touristy but good)

    Final tip – the subway goes EVERYWHERE, through all boros, and is the best way to get around. To figure out how to get from Point A to Point B, use google maps and select the “metro” option. It will tell you exactly what trains to take. The maps in station are also useful, if you get confused just ask someone.

    Hope you enjoy your trip! If you have any other questions, please let me know.

x

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