The Personal Finance Podcast with Andrew Giancola

Episode: You Can Change Your Finances in 3 Months (Here is How!)

Date: December 29, 2025

Overview

In this engaging and motivational episode, Andrew Giancola, founder of Master Money, lays out a practical, actionable system to drastically improve your financial life in just three months. Speaking directly to those feeling overwhelmed, stuck, or living paycheck-to-paycheck, Andrew emphasizes the power of intentionality with money and shares a six-step process to create structure, reduce stress, and accelerate towards financial freedom. He breaks down each step—from knowing your numbers to enjoying your money—infused with personal stories, tough love, and a supportive, community-driven tone.

Key Discussion Points & Insights

1. The Power of Intentionality with Money (03:35)

• Intentional money management is the gateway to clarity, reduced stress, and achieving your financial goals.
• "There is power in that word: intention. There is wisdom in that word: intention. When you are intentional with your money, all of a sudden your money is doing exactly what you want it to do." – Andrew (05:29)
• Andrew encourages listeners to affirm: "I am intentional with money. I am a person who is prudent with my money. I am going to build wealth." (06:15)

2. Step 1: Know Your Numbers (07:10)

Andrew introduces the concept of a personal “Financial Scorecard” built on six crucial metrics:

• Income

  • Know both your net (take-home) and gross income, for yourself and your household.
  • Frequency of paychecks (monthly, biweekly, variable) is crucial for planning and automations.
  • "Income is the engine. It is the catalyst that allows us to build wealth." (08:43)

• Burn Rate (Monthly Expenses)

  • Calculate your true monthly spend by averaging the last 3–6 months of bank and credit card statements.
  • Don’t filter out “unusual” months—accuracy matters more than excuses.
  • "This is not a reflection of your character... Instead, we’re going to empower you with your dollars." (14:50)

• Net Worth

  • Assets minus liabilities is your ultimate financial score.
  • Tools like Monarch Money or a simple spreadsheet can help track this quarterly or annually.
  • Tracking net worth keeps motivation high and progress visible.

• Savings Rate

  • The percentage of income saved for your future self (emergency fund + investments).
  • 20% is the baseline; the higher, the faster you can reach freedom.
  • If you're starting from scratch, just start small and build the habit.
  • "Savings isn’t something you do—it’s something you automate over time where you don’t have to think about it anymore." (20:10)

• Debt

  • List every debt (credit cards, student loans, auto loans, etc.) with interest rates, minimum payments, and balances.
  • Prioritize paying down high-interest debt (>6%).
  • "The key is visibility. The key is understanding where you stand with your debt." (22:31)

• Retirement (Freedom) Number

  • Your “FU Money”—the amount you need invested to never work again.
  • Knowing your number gives you motivation and a North Star.

Action Step:
"Walk up to anybody, any of your friends right now and ask them those six metrics and they will not know. But once you know those six numbers, you’re already one step ahead." (26:09)

3. Step 2: Analyze Housing Costs (27:20)

• Housing is most people’s largest expense and where overspending can “rob your ability to build wealth.”
• Total all costs (rent/mortgage + utilities + insurance + maintenance + repairs + any extras).
• Goal: Keep all housing expenses ≤30% of gross income.
• High-cost housing? Consider downsizing, house-hacking, getting a roommate, or cutting back elsewhere.
• "If you’re spending more than 30% of your gross income on housing, you’re spending too much. If you’re under, you’re A-OK." (33:09)
• "For people in high-cost areas – focus on what you can control. That’s the mind of a wealth-builder." (36:14)

4. Step 3: Automate Your Money (38:09)

• Why Automate?

  • Frees your mental energy, reduces mistakes, and ensures consistent progress.
  • "Instead of having to think about your money all the time, you can focus on living your life, building your career, spending more time with your family." (39:10)

• How to Automate:

  1. Pay Yourself First
     • Automate transfers to your investments (401k, Roth IRA, brokerage) and emergency savings.
  2. Bills & Payments
     • Use your checking account and credit cards (if you pay in full) for all recurring bills.
     • Lean checking account: "It’s just a passthrough account. The max you need is about one month of expenses." (42:32)
     • Push as many bills as possible to rewards credit cards (only if disciplined!); pay off weekly or monthly.
     • "If you struggle to pay off your card in full, get off the card—simple as that." (45:29)
     • Set up all bills on autopay to avoid missed payments and stress.
     • For tight budgets: coordinate bill due dates and build a 1-month buffer.

5. Step 4: Investing Simplified (48:20)

• Investing is easier than Wall Street wants you to believe.
• Main Vehicles: Index funds & ETFs (instead of risky individual stocks).
  • "It’s just a basket of stocks—think of a big gift basket at Christmas, but with companies."
• Focus on simple, diversified options like S&P 500 or Total Market Index Funds.
• Preferred brokerages: Vanguard, Fidelity, Charles Schwab, for their low fees and simplicity.
• "Instead of trying to beat the market, you can just buy the market." (48:59)
• "Continuously investing every single month is one of the best things you can do with your dollars." (49:41)

6. Step 5: Calculate and Track Your Freedom Number (51:19)

• Understand exactly what you need to attain “work-optional” status.
• Quick Formula:
  • Annual desired retirement spend x 25 = your retirement (freedom) number, based on the “4% rule.”
    • (Example: $80,000/year x 25 = $2 million)
• Life events (marriage, kids, goals) change your number—revisit and tweak every year.
• Incorporate pensions, Social Security, and adjust for inflation as you get closer.
• "Once you hit this freedom number, work becomes optional... that’s a very powerful number to know." (52:27)

7. Step 6: Learn to Enjoy Your Money (55:19)

• The goal of wealth isn’t deprivation—it’s to enjoy your life intentionally.
• Go back through your spending and ruthlessly identify things you don’t care about.
• Cut out autopilot purchases & reallocate to what brings you real joy (travel, hobbies, family, health).
• "Being good with money doesn’t mean depriving yourself. It means you’re being intentional about how you spend your money." (56:06)
• "All the things you cut out are going to free up more dollars to spend on things that you actually value." (57:11)

Notable Quotes & Memorable Moments

• "Most people aren’t bad with money. They just don’t have a financial system in place." (03:00)
• "This is not a reflection of your character... Instead, we’re going to empower you with your dollars. We’re going to give you hope. That is the key when it comes to wealth-building." (14:50)
• "Savings isn’t really something you do—savings is something you set up and automate so you don’t have to think about it anymore." (20:10)
• "Housing is the thing that is robbing a lot of Americans of their ability to build wealth." (28:00)
• "Automation is the most freeing thing of all time... and that is the beauty of money automation." (38:46)
• "Instead of trying to beat the market, you can just buy the market." (48:59)
• "Once you hit this freedom number, work becomes optional. It is not something that you absolutely have to do." (52:28)
• "Being good with money doesn’t mean depriving yourself. It means being intentional about how you spend your money." (56:06)
• "Our entire goal here is to have you enjoy your money and have you use it as a tool to get the things you want in life." (58:16)

Timestamps for Key Segments

• [03:35] – Defining “Intention” in Personal Finance
• [07:10] – Step 1: Know Your Numbers (Income, Burn Rate, Net Worth, Savings Rate, Debt, Retirement Number)
• [27:20] – Step 2: Analyze Housing Costs (≤ 30% Rule)
• [38:09] – Step 3: Automate Your Money (Investments, Savings, Bills)
• [48:20] – Step 4: Investing Should Be Simple (Index Funds & ETFs)
• [51:19] – Step 5: Your Freedom/Retirement Number
• [55:19] – Step 6: Enjoy and Spend Money Intentionally

Final Thoughts

Andrew wraps up with encouragement and tools for continued learning, inviting listeners to join his Master Money Academy for coaching and community. This episode is a fast-paced, motivational guide with high-impact, actionable steps—emphasizing clarity, automation, and the joy of intentional spending.

This summary is designed to empower you to take control—fast. If you haven’t yet built your financial system, start with these six steps and revisit your progress every quarter. As Andrew says:

"Anyone can be wealthy. You just need a system and the intention." (01:30)