Join the discussion on Facebook!TranscriptJonathan VanHorn:Hey everybody, Jonathan checking in here. And just so you know, this is a two-part episode. This is the second part of the episode. So if you've not listened to the first part yet, you want to go back and listen to it in the prior ways. We should have it labeled on the episode title, what part one is and part two is. So you should be able to listen to that in the ... See that in the title of the episode, what episode of episode it is. So thanks.Jonathan VanHorn:Welcome to the Tooth and Coin Podcast, where we talk about your adventure of being a dental practice owner. In these episodes, we're going to be talking about problems that you will likely face as a practice owner, as well as give an idea about actionable solutions that you can take so that you can get past this problem in your practice. Some of these concepts are really big ones. Some of them are very specific, but we hope that these episodes help you along with your journey. Now, a very important piece for you to understand is that this is not paid financial advice. This is not paid tax or legal advice. We are not your financial advisors. We are not your CPAs. This is two CPAs talking about informational and educational content to help you along with your journey. It's a very important piece for you to understand.Jonathan VanHorn:Another thing that you need to know is if you enjoyed today's content, join us on the Facebook group. We've got a Facebook group that is active with Dennis that is going to have content talking about what we're talking about today, to continue the discussion. Agree with us. Don't agree with us. Have a story to tell. Have something to share. Join us in the Facebook group. If you go to Facebook and you search for Tooth and Coin Podcast, click on it to join it and be able to join us there. Finally, if you need some more help, we're developing a list of resources that are going to be centering it around our topics of discussion, to be able to help you a little bit more than what the content is doing. So if you'd like access to that, whenever it becomes ready, all you have to do is text the word ToothandCoin, T-O-O-T-H-A-N-D-C-O-I-N to 33444. Again, that's ToothandCoin, all one word, no spaces, to 33444, reply with your email address. And we'll email you instructions on how to get into the Facebook group, as well as add you list to be able to send you those resources when they're available. And if they're available, we'll go ahead and send them to you as well.Jonathan VanHorn:On to today's episode. Hope you enjoy it. How does someone define their intention? Because at the end of the day, we're doing budgeting for a reason. How does someone define their own intention? You have to have an intention, but what is intention for someone like us? What's the purpose of all this?Joseph Rugger:Sure. Well, I'll give you a couple of quotes from a couple of authors. One of the ones that I like to quote is Stephen Covey, who wrote The 7 Habits of Highly Effective People. And he said that we need to begin with the end in mind. That's one thing that I'll throw out. And then cautiously, I'll say the next quote is from a guy named Dave Ramsey, who has a tendency to get people all up in arms one way or the other. He has like this cult-like following. And then a lot of people don't like him. Anyways, he said that a budget is about you telling your money what to do, rather than it telling you what to do. So I think that's probably part of my thoughts on intention is, like beginning with the end in mind.Joseph Rugger:So, what is it that is the goal? That's probably a big, lofty thing to think about, well, where do you want to be in 40 years? I don't know. I just need to make sure that the kids get fed, put to bed, make it to school, they make A's and B's and everybody stays happy. So I think that you've got to think kind of long-term. So like maybe part of your long-term plan is that you want to have a vacation home. All right. Well, let's be intentional about that. We don't just wake up one day with a vacation home and an extra mortgage or pay cash for it. We got to put things in motion to help out with that. I think when I talk about intention, I talk about begin with the end in mind, like, what are some shorter range goals?Joseph Rugger:There are going to be some of our clients and some of the people listen to this that may have the short range goal of getting out of credit card debt. They ran up really large amounts of credit card debt. They're getting the practice started or getting through dental school or any of those things. That may be a big thing for them. There are some people that at 22 years old, they find out about an IRA and they want to save every penny they can for retirement so that they don't have to work until they're at whatever age. I think that beginning with the end in mind and just kind of thinking about what are some of your shorter term goals and some longer ...
