Investing can feel overwhelming with all the strategies, opinions, and noise out there. That’s why in this episode, I break down eight simple, time-tested rules of thumb that will help you cut through the confusion and make smarter decisions with your money. These aren’t rigid formulas—they’re practical guidelines to keep you on track whether you’re just getting started or fine-tuning your portfolio.

From understanding how long it takes your money to double, to calculating your “freedom number,” to knowing whether to prioritize retirement or college savings, these rules will help you create clarity and confidence in your financial journey.

Episode Timeline & Highlights

[0:00] – Introduction
[0:54] – Rule #1: The Rule of 72—how long it takes for your money to double
[2:00] – Rule #2: Why you’ll only need about 70% of your income in retirement
[2:46] – Rule #3: How to calculate your “freedom number” with the 4% rule
[3:11] – Rule #4: Safe withdrawal rates in retirement (why I lean conservative)
[3:52] – Rule #5: Net worth benchmarks by age and income
[4:33] – Rule #6: Asset allocation by age—and why risk tolerance matters more
[5:52] – Rule #7: Always take the 401(k) match—it’s free money
[6:32] – Rule #8: Child’s education vs. retirement (and why retirement comes first)

Key Takeaways

1. Money Compounds Faster Than You Think – Use the Rule of 72 to visualize long-term growth.

2. Retirement Needs Less Than You Earn Now – Strategic withdrawals and fewer expenses change the math.

3. Put Yourself First – You can borrow for college, but you can’t borrow for retirement.

Quotables

“You can get scholarships for school—but you can’t get scholarships for retirement.”
“Aim to have your investments double every ten years at a bare minimum.”
“Please don’t listen to anyone who says you can pull 12% from your portfolio. That’s a disaster waiting to happen.”

Links & Resources

• Learn more about BudgetDog Academy: https://budgetdog.com

• My book, The Roadmap to Financial Freedom: https://budgetdog.com/book

• Follow me on Instagram: https://instagram.com/budgetdog

If this episode helped simplify investing for you, share it with a friend who needs these rules of thumb. And don’t forget to rate, follow, and review the podcast—it helps more people build wealth with confidence and clarity.

In this episode of Money on My Mind, I dive into 17 powerful budgeting rules of thumb that will give you a clear roadmap for managing your money—whether you’re just getting started or looking to refine your financial game.

From how much of your income should go toward a mortgage or rent, to the 50/30/20 rule, emergency funds, cars, student loans, and even how to handle windfalls, these are the guidelines that will keep you on track without overcomplicating things. I also share how these rules evolve as you build real wealth and why financial freedom often changes the “game” you’re playing.

This is practical, actionable advice that you can apply today to build discipline, avoid common money traps, and set yourself up for long-term success.

Key Talking Points of the Episode

00:00 Introduction

00:53 Rule #1: Mortgage payment ≤ 25% of take-home pay (exceptions up to 30%)

03:01 Rule #2: Home price = 3–5x annual gross income

03:37 Rule #3: Refinance if rates drop ≥ 1%

04:20 Rule #4: Save 1% of home value annually for maintenance

05:10 Rule #5: Rent ≤ 25% of take-home pay

05:44 Rule #6: Pay off debt vs. invest: when each makes sense

06:55 Rule #7: Total debt ≤ 36% of gross income (DTI ratio)

07:22 Rule #8: Student loans ≤ starting salary

08:00 Rule #9: Cars: cash preferred, or follow the 20/4/10 rule

09:17 Rule #10: Lifetime cost of a car = 3x sticker price

11:11 Rule #11: Replace car when repairs > car’s value

11:46 Rule #12: Emergency fund = 3–6 months of expenses

12:52 Rule #13: The 50/30/20 rule: needs, wants, and savings/investments

13:35 Rule #14: The 30-day rule for big purchases

14:14 Rule #15: Food budget = 10–15% of gross income

15:10 Rule #16: Windfalls: spend 1–5% on fun, invest the rest toward goals

16:37 Rule #17: Estimate annual income: hourly wage × 2, add 3 zeros

17:32 Why these rules matter more in the beginning stages of wealth building

18:00 How financial freedom changes the rules beyond budgeting basics

21:53 Final thoughts: mastering each stage of wealth and knowing when to level up

Quotables

“If you can stay within these rules of thumb, you’re going to do really, really well—even if you’re not perfect.”

“A mortgage should be a blessing, not a curse.”

“Discipline is what separates those who win with money from those who struggle.”

Links

The Roadmap to Financial Freedom

https://budgetdogacademy.com/order-now

Budgetdog

https://budgetdog.com

In this episode, I share the story behind why I built BudgetDog and the mission that drives me every single day. From starting out $304,000 in debt as a 22-year-old CPA, to becoming a millionaire in seven years, I explain how personal finance systems transformed my life—and why I knew I had to share them with others.

This isn’t about quick fixes or get-rich-quick schemes. It’s about creating simple, automated systems that work for real families in the real world. I also talk about the deeper “why” behind my work—from my daughter Logan’s fight with Dravet Syndrome, to our family’s $1 million donation goal, to the long-term community we’re building through BudgetDog Academy.

Episode Timeline & Highlights

[0:00] – Introduction

[1:33] – My own financial struggles after college and the wake-up call that changed everything

[2:29] – How I paid off $304K in debt and built a millionaire net worth in just seven years

[3:06] – From sharing online casually to building a national bestseller and full-time business

[5:05] – Why our six-month roadmap works for families at every stage

[7:04] – The power of simplifying and automating your money systems

[9:24] – Why money matters when it comes to making an impact—especially in the fight against Dravet Syndrome

[13:29] – Reframing budgeting: not restriction, but aligning your money with your values

[16:15] – The hidden burden of decision fatigue—and how automation solves it

[18:16] – Why I pour into students even when it’s not the most “commercially profitable” choice

[23:32] – Why I don’t view other financial platforms as competition

[25:25] – Fatherhood, motivation, and building for the next generation

Key Takeaways

1. Systems Beat Discipline – Financial freedom comes from automation and simplification, not white-knuckled discipline.

2. Money Creates Impact – Wealth isn’t just about you; it’s fuel for making a bigger difference in the world.

3. Play the Long Game – Success—both financial and entrepreneurial—is a marathon, not a sprint.

Quotables

Links & Resources

• My book, The Roadmap to Financial Freedom: https://budgetdog.com/book

• Learn more about BudgetDog Academy: https://budgetdog.com

• Follow me on Instagram: https://instagram.com/budgetdog

If this episode resonated with you, please share it with someone who needs encouragement on their financial journey. And don’t forget to rate, follow, and review the podcast—your support helps more families discover the path to freedom and impact.