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109: John Crane - Mastering Cash Flow: Insights from Financial Advisor John Crane
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How Can Mindfulness Help You Reach Financial Independence?
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Learn more: https://courses.mindful.money/financial-independence-bootcamp
In this episode, I speak with John Crane, a Seasoned Financial Advisor with over two decades of experience. John has a unique approach to personal finance, especially when it comes to budgeting. He shares his journey from struggling with traditional budgeting methods to developing the "One Number Budget" system, which simplifies the process and makes it more manageable for his clients. We dive into his book, published in 2022, where he outlines this innovative approach. John’s passion for making a difference in people's lives is evident, and he aims to be the go-to person for his clients when they face significant financial decisions.
John also opens up about his personal experiences, from his early entrepreneurial endeavors as a teenager to his career shift from corporate America to financial advising. He emphasizes the importance of cash flow management and the psychological aspects of financial decisions. We discuss the challenges of traditional budgeting, the benefits of his one number budget, and the importance of being over-prepared for the future. John’s insights are practical and grounded, making this episode a must-listen for anyone looking to simplify their financial planning and achieve greater financial stability. Join us for an engaging conversation that blends personal stories with valuable financial wisdom.
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Key Takeaways
00:02:06: Early Life and Career Beginnings
00:05:33: Family Background and Money Conversations
00:08:48: Realization and Career Change
00:17:20: Economic vs. Psychological Financial Decisions
00:20:17: Traditional Budgets and Their Failures
00:22:22: Budgeting Apps and Their Limitations
00:26:19: Over-Preparedness in Financial Planning
00:29:21: Importance of Cash Flow Management
00:33:24: Potential Future Book Topics
00:36:56: Impactful Travel Experience
Tweetable Quotes
"I realized pretty quickly that if I had my own money, then I could make a lot of my own decisions. And I liked that."
"Health and fitness are not the same thing. I was physically fit, but I wasn't really healthy. They require different disciplines."
"Cash flow management is the single greatest determinant of financial success or failure. Your ability to manage cash flow will make the difference as to whether or not you're a success financially."
Guest Resources
Website - https://www.cranefinancial.com/
LinkedIn - https://www.linkedin.com/in/johncrane/
Book Mentioned
The One-Number Budget: Why Traditional Budgets Fail and What to Do About It - https://www.amazon.com/One-Number-Budget-Traditional-Budgets-About/dp/1544533659
Mindful Money Resources
For all the free stuff at Mindful Money: https://mindful.money/resources
To buy Jonathan’s first book - Mindful Money: https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369
To buy Jonathan’s second book – Mindful Investing: https://www.amazon.com/Mindful-Investing-Outcome-Greater-Well-Being/dp/1608688763
Subscribe to Jonathan’s Weekly Newsletter: https://courses.mindful.money/email-opt-in
Capture the most important benefit of an advisor – behavioral support – without the 1% fee: https://courses.mindful.money/membership
For more complex, one on one financial planning and investing support with Jonathan or a member of Jonathan’s team: https://www.epwealth.com/our-team/berkeley/jonathan-deyoe/
Website: https://mindful.money
Jonathan on LinkedIn: https://www.linkedin.com/in/jonathandeyoe
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Disclaimer
This podcast is intended for general public use. By providing this content, Park Avenue Securities LLC and your financial representative are not undertaking to provide investment advice or make a recommendation for a specific individual or situation, or to otherwise act in a fiduciary capacity. The Mindful Money Podcast is not affiliated with or endorsed by PAS, Guardian, or Crane Financial and opinions stated are their own.
John W. Crane, Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 11350 McCormick Road, Executive Plaza III, Suite 202, Hunt Valley, MD, 21031, 667-318-0801. Securities products and advisory services offered through PAS, member FINRA, SIPC.
Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Crane Financial LLC is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License Number - 0G79065.
Compliance # 2024-168593 , Exp 06/2025
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