What’s the best way to get started with personal finance? How do you track your money? Which personal finance apps do you recommend? We get these questions a lot from Asian Efficiency readers and podcast listeners. That’s what we’ll cover in this episode. I’m joined this time by Charles Ngo, a successful entrepreneur and one of my best friends. You might recognize his name because he was on the podcast before in episode 143 where we talked about how to get started with executive assistants. About three years ago, Charles started to dive into personal finance and tracking every cent he spent. He learned a lot along the way and I asked him to share his workflow, tools and how he budgets so you can get started with managing your finances in a more efficient way.
Thanks to Lumen5 for supporting The Productivity Show. Lumen5 is offering our listeners 50% off their first month. Go to Lumen5.com/tps to get 50% off your first month.
Thanks also to Grammarly for supporting The Productivity Show. Grammarly is offering our listeners 20% off their premium account today. Go to Grammarly.com/TPS for 20% your premium account.
Cheat Sheet:
- Charles’s top three productivity resources [2:43]
- What got Charles interested in better understanding of personal finance [3:50]
- How the fear of confronting your financial situation [9:27]
- The only way you can really learn about your own personal finances [12:58]
- Why forecasting is the key in personal finance, and how deeply it can impact your financial security [17:06]
- The different systems that Charles has tried [29:46]
- Why Charles likes having an accountability partner for his finances [34:37]
- Charles’s two favorite tools outside of YNAB to get a handle on your finances [38:37]
- How Charles uses the data he gathers to improve [46:40]
- The power of the leading indicator, and how you can leverage it [53:25]
- The different components of Charles’s financial system [57:07]
- What Charles would recommend for everybody getting started with their own financial literacy [1:02:42]
Links:
- Grammarly
- Lumen5
- The Asian Efficiency Guide to Meditation For Less Stress, More Productivity, and a Happier Life
- The CEO’s Secret to Productivity: An Executive Assistant (TPS143)
- YNAB (You Need A Budget)
- The Simple Path to Wealth: Your road map to financial independence and a rich, free life
- Custom Google Spreadsheet from Charles to help track your net worth
- Mint
Connect with Charles Ngo
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Wow, this podcast is incredibly informative and well-structured. Charles Ngo provides a comprehensive guide on how to get started with personal finance, with proven workflows, apps and tools. This post is a valuable resource for anyone looking to take control of their finances and make smart, informed decisions about their financial future.
Great episode. I’m the Scott Charles mentioned as his accountability partner. I am honored to be a small part of his system of accountability. Anyone that is interested in exploring this can just reach out and I’d be happy to chat about what it looks like.
Scott
Please hug Mr. Ngo for me (or shake his hand heartily if that’s more your style). He embodies the ideal Asian mentality towards personal financial responsibility. I wanted to give a standing ovation towards the last part of the podcast. Thanks for this. It was very relatable and I got lots of useful tips from start to finish.
Hi there. Love your podcast.
You have an incorrect link on the show notes for TPS261. The link for Lumen5 is https://www.lumen5.com/TPS and should be https://www.lumen5.com/tps.
But it is correct on the episode description.
Best regards
Thanks, fixed!