Today we are spending most of the episode going further into the basic concepts that ground good financial practices and the personal finance topics that are often taken for granted. The three main areas we unpack in this episode are the cost of living, savings capacity, and emergency funds, and though these can be viewed as basic ideas, there are always areas of the simplest variety that deserve more attention. Listeners can also expect to hear a little more about what our role as financial advisors constitutes on a daily basis, as we respond to an audience member's question about how to conceptualize the profession. We welcome Dr. Wendall Mascarenhas back to the show for a brief cameo in which he shares his reading habits and approach with us, which contrasts with some of the opinions often expressed by other guests, so make sure to stay tuned in for that. We also find time for a quick recap of an old episode we had with Rick Ferri and a book review of Rethink Lead Generation by Tom Shapiro. Timestamps: 0:00 Intro 4:41 Main Topic 1: Basic Personal Finance Concepts 5:00 Cost of Living 25:51 Savings Capacity 38:52 Emergency Fund 47:14 Episode 33: 60 Seconds 49:53 Book Review: Rethink Lead Generation: Advanced Strategies to Generate More Leads for your Business 58:20 23 in 23 Reading Challenge: Special Guest Dr. Wendall Mascarenhas 1:11:00 Aftershow Participate in our 23 in 23 Reading Challenge: 23 in 23 Reading Challenge — https://rationalreminder.ca/23in23 23 in 23 Reading Challenge on Beanstalk — https://pwlcapital.beanstack.org/ Participate in our Community Discussion about this Episode: https://community.rationalreminder.ca/t/episode-241-basic-personal-finance-concepts-discussion-thread/22191 Links From Today’s Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Shop Merch — https://shop.rationalreminder.ca/ Join the Community — https://community.rationalreminder.ca/ Follow us on Twitter — https://twitter.com/RationalRemind Follow us on Instagram — @rationalreminder Benjamin on Twitter — https://twitter.com/benjaminwfelix Cameron on Twitter — https://twitter.com/CameronPassmore Dr. Wendall Mascarenhas — https://www.fcos.ca/meet-dr-mascarenhas/ Teeth & Titanium Podcast — https://podcasts.apple.com/us/podcast/teeth-titanium/id1514989809 Extra references on cost of living, savings capacity & emergency fund can be found at: http://rationalreminder.ca/podcast/241