Brennan Schlagbaum’s approach to personal finance has made a massive impact in the industry, and it’s not hard to see why. As a double major in finance and accounting from the University of Louisville, he has applied his education in an innovative way to turn his life around. This article will delve into how Brennan and his family have achieved financial freedom, their unique approach, and their impact on the industry.
After graduating in 2014, Brennan faced several financial challenges as he had significant debt and no immediate income. He chose to live with his parents to keep his expenses low and had to wait eight months to start his CPA job. However, this experience taught him the importance of budgeting and saving, which would later play a vital role in his journey to financial freedom.
In 2016, Brennan and his wife Erin purchased a $233,700 home, but that move also came with additional debt. However, instead of giving up, they turned to self-education through Google, YouTube, and books to learn about budgeting, saving, and investing. This journey led to the creation of Budgetdog in 2019, an Instagram account that provided financial advice from a dog’s perspective. Today, Budgetdog has grown into a company that brings in up to $100,000+ a month through client consultations, courses, book sales, and promotional and affiliate revenue. With a social media following of over 230k followers, Brennan’s accessible and consumer-friendly approach to financial education has reached a broad audience.
Brennan and Erin’s journey to financial freedom is truly inspiring. They could pay off over $300,000 in debt, including student loans, cars, and an engagement ring, by negotiating raises at work, earning extra income through their business, and implementing a solid plan. The business, Budgetdog, helps others improve their financial well-being and plays a crucial role in assisting them in paying off their debt and achieving financial freedom.
Brennan’s approach to budgeting and personal finance is unique and innovative. His wife also created a budget and balance sheet to track their expenses and income. By organizing themselves and taking just 30 minutes each month to review their finances, they were able to get a clear picture of their financial situation. They also avoided lifestyle inflation and stayed in their lane, which meant not comparing themselves to others and not spending money on things they didn’t need.
Brennan’s approach to personal finance has shaken up the industry by emphasizing the need for a more consumer-friendly system. He believes that the finance industry has been too focused on making profits at the expense of consumer protection. His advocacy for more transparency and ethical business practices in the finance industry has resonated with many, and it’s clear that his approach is making a positive impact.
Brennan Schlagbaum’s journey to financial freedom and his unique approach to personal finance is a testament to the power of hard work, self-education, and a positive attitude. His impact on the industry and his willingness to share his story and knowledge with others serves as an inspiration to anyone facing financial challenges. Brennan’s approach is a refreshing change, and it’s clear that his consumer-friendly approach is positively impacting the finance industry.