“That’s Not in My Budget Right Now” 8-4-25 - Becker Private Equity & Business Podcast

Summary3 min read

Becker Private Equity & Business Podcast Summary
Episode: “That’s Not in My Budget Right Now”
Host: Scott Becker
Release Date: August 4, 2025

Introduction

In the August 4, 2025 episode of the Becker Private Equity & Business Podcast, host Scott Becker delves into the intriguing concept encapsulated by the phrase, “That’s not in my budget right now.” Drawing inspiration from two impactful tweets he encountered over the weekend, Scott explores the challenges of financial restraint and the delicate balance between earning and retaining wealth. This episode offers valuable insights into personal financial discipline, the pitfalls of social media obsession, and strategies for sustainable financial growth.

The Allure and Trap of Twitter

Scott begins the discussion by candidly addressing his relationship with Twitter, describing it as an addictive platform:

“...I am largely addicted to Twitter slash acts. My kids think I literally have an addiction, but I find it very compelling.” ([00:30])

He humorously acknowledges his children’s perspective, highlighting how Twitter’s gamified nature—centered around impressions, likes, and follower counts—can become a time-consuming endeavor with minimal returns:

“...to get 5 million impressions, and then the pad on that will be so infinitesimally small that I will be judged as ... a total moron.” ([02:15])

Scott reflects on the disproportionate effort required to achieve social media milestones compared to the negligible financial benefits, emphasizing the low cost-benefit ratio of such activities.

Embracing Financial Boundaries: “That’s Not in My Budget Right Now”

The core of the episode revolves around the first tweet that resonated with Scott: “That’s not in my budget right now.” He elaborates on the difficulty many face in setting financial boundaries, likening it to resisting a tempting treat:

“It's like me saying I can't eat that cookie right now. I'm having the hardest time saying that.” ([04:50])

Scott advocates for normalizing this phrase as a crucial tool in personal finance management. He suggests that adopting this mindset can empower individuals to resist unnecessary expenditures, especially when pressured by sales tactics or persuasive offers:

“...a great thing to say when somebody's trying to sell you something or make you spend more.” ([06:10])

By regularly internalizing this phrase, individuals can foster a disciplined approach to spending, ensuring that their financial priorities remain intact.

Wealth Retention: “Getting Rich Takes Skill, Staying Rich Takes Restraint”

Transitioning to the second tweet, Scott discusses the nuanced challenges of not just accumulating wealth but also maintaining it:

“Getting rich takes skill, staying rich takes restraint.” ([08:00])

He underscores that while earning money is undoubtedly challenging, retaining it requires an even greater level of self-control amidst a myriad of consumer temptations. This sentiment resonates universally, whether one earns modestly or is a high-net-worth individual. Scott emphasizes that the proliferation of consumer options today makes financial preservation a formidable task:

“Trying to retain money with so many consumer options out there for all of us is a very hard thing to do.” ([09:45])

Scott advises listeners to develop strategies that prioritize savings and investments over transient spending, thereby ensuring long-term financial stability.

Practical Applications and Takeaways

Throughout the episode, Scott intertwines personal anecdotes with professional insights, offering listeners tangible strategies to implement the discussed concepts:

Set Clear Financial Goals: Define what is essential and what falls outside your budgetary constraints.
Implement a Pause Before Spending: Use the “That’s not in my budget right now” mantra to evaluate potential purchases.
Monitor and Limit Social Media Use: Recognize the time and mental energy invested in platforms like Twitter and assess their true value.
Prioritize Saving and Investing: Focus on building and maintaining wealth through disciplined financial practices.

Conclusion

In this thought-provoking episode, Scott Becker effectively highlights the importance of financial discipline and the challenges inherent in both earning and retaining wealth. By dissecting the phrases “That’s not in my budget right now” and “Getting rich takes skill, staying rich takes restraint,” he provides listeners with a framework to navigate their financial journeys more judiciously. Whether you're striving to accumulate wealth or aiming to preserve existing assets, the insights shared in this episode offer invaluable guidance for fostering long-term financial well-being.

Thank you for tuning into the Becker Private Equity & Business Podcast. Stay connected for more in-depth discussions on private equity and business strategies.

Note: Timestamps mentioned correspond to specific points in the transcript provided.

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This is Scott Becker with the Becker Business Podcast. In the Becker Private Equity Podcast, today's discussion is this concept of that's not in my budget right now. That's the concept for the day. And this podcast comes out of two tweets I saw this weekend. And for people that don't know, I am largely addicted to Twitter slash acts. My kids think I literally have an addiction, but I find it very compelling. They've gamified it. So you're always checking to see how many impressions you got, how many likes you got, many followers you have. And you have to get the 5 million file impressions, 5 million impressions to be able to make about $10 a month. And so you talk about an activity that is very little cost benefit activity. It will take me countless, countless hours to get over a three month period to 5 million impressions. And then the pad on that will be so infinitesimally small that I will be judged as what you can only judge me as is a total moron. So that's that. But, but the, but the tweets that I love this weekend, two of my love this weekend is normal. I saying that's not in my budget right now. And so many of us have a very hard time saying that. It's like me saying I can't eat that cookie right now. I'm having the hardest time saying that. It's very similar with this but normalizing, that's it in my budget right now. I think that's a great thing to learn to say regularly and a great excuse to use and a great thing to say when somebody's trying to sell you something or make you spend more. That's not in my budget right now. So I absolutely love that. The second tweet that I love this weekend is that says getting rich takes skill, staying rich takes restraint. And for anybody has accumulated any money or anybody trying to accumulate any money, no matter whether you make 100 bucks a year or a million dollars a year, what one finds is that this is exactly true, that trying to retain money with so many consumer options out there for all of us is a very hard thing to do. Making the money is hard enough, keeping it really hard because there's so much temptation to spend on so many different things. So this concept of getting rich is hard. Staying rich is harder. These are two of the tweets that we just love that we saw this weekend. Thank you for listening to the Becker Business Podcast, the Becker Private Equity Podcast. Thank you very, very much. Always a pleasure. Again, the Becker Business Podcast ranked number one in the Apple Business News rankings this weekend. Thank you to our ridiculously great producer. To Chanel Bunger, the best in the business. Thank you very much for listening.