In this episode of Mark’s Money Mind, host Mark Trautman, CFP® explains his financial freedom cornerstone mantra: Make Some, Save & Invest, Live on the Rest. Discussing his personal stories, insights from various books, and advice rooted in practical experience, Mark emphasizes the importance of living within one’s means, the benefits of saving and investing early, and the significance of making informed educational and career choices.  He shares his personal journey, discusses various pathways to earning income, the importance of college cost consideration, and touches upon how to prioritize savings and investments. Additionally, Mark delves into managing lifestyle creep, making mindful spending choices, and the value of surrounding oneself with like-minded individuals pursuing financial independence. The episode encourages listeners to actively engage in their financial journey while maintaining a balanced life and avoiding the pitfalls of excessive debt and lifestyle inflation. Send your questions to [email protected] (put “Podcast Question” in the subject line) Episode Links: Poor Charlie’s Almanac by Peter D. Kaufman Warren Buffett’s Letter to Berkshire Shareholders (2023) Choose FI: Your Blueprint to Financial Independence by Chris Mamula, Brad Barrett and Jonathan Mendonsa Raising Your Money-Savvy Family For Next Generation Financial Independence by Carol Pittner and Doug Nordman Taking Stock by Jordan Grumet, MD I Will Teach You to Be Rich by Ramit Sethi Catching Up to FI podcast: Sinking Funds Are Sexy Timestamps: 00:00 Introduction and Welcome 01:29 The Importance of Financial Freedom 02:02 Lessons from Charlie Munger 04:26 The Mantra for Financial Success 05:35 The Influence of Social Media on Financial Decisions 06:43 The Importance of Making Wise College Decisions 20:49 The Role of Savings and Investment in Financial Freedom 24:27 Understanding Traditional and Roth IRA Accounts 25:32 The Importance of Emergency Savings 26:30 Choosing the Right Savings Account 28:39 The Power of Roth IRA 31:53 Creating Savings Buckets 33:07 Avoiding Lifestyle Creep 43:57 Managing the Big Three: Housing, Transportation, Food 46:42 Closing Remarks and Future Plans 48:26 Important Disclaimer _______________ As an Amazon Associate this show earns income from qualifying purchases. Affiliate links do not increase your costs, and we will only link to products or services that we are familiar with and that we feel may deliver value to you. The modest income received from affiliate links helps support the cost of running and managing this show.