Money Masters: PT Money

This week’s Money Master is Phillip “PT” Taylor of PT Money. Similar to our story, PT had a career in finance, but found his personal financial situation was less than desirable. He decided to change that and take charge of his financial life. PT started his blog in 2007 and has since turned it into his primary stream of income and is now an inspiration to over 350,000 readers of his blog a month.

Lastly, click here to be a Money Master. We’re always seeking new personal finance bloggers or industry experts to help our followers be debt free, have fun and be money conscious.

Learn more about PT below.

1. What’s your story?

I was raised in a small town in Louisiana to loving parents who, looking back, definitely made me who I am today – my Mother is a writer/teacher, and my Father is a CPA. They taught me what it looked like to work hard, be self-reliant, and focus on the important things in life: faith, family, and friends.

After my childhood dream of playing for the Chicago Bears didn’t pan out (haha!), I ended up following in my Father’s footsteps and studying accounting. Like many folks these days, I graduated college with credit card debt and a few student loans.

I eventually passed the CPA exam. But what knowledge I had for tax law and retirement investing was not matched in the area of basic personal finance. I struggled financially for a few years before discovering Dave Ramsey, David Bach (The Automatic Millionaire), and personal finance blogs.

With a new found passion for getting rid of my debt and saving more money, I ended up starting PTMoney.com, a platform where I could creatively express my knowledge and interest in personal finance, as well as share my progress with the world.

What happened next still amazes me. PTMoney.com went from a simple personal blog to a site that generated enough revenue to replace my day job. That, in combination with a habit of living lean, a healthy emergency fund and zero consumer debt, allowed me to quit my unsatisfying corporate career and spend more time with my wife and kids.

I now spend my time running the website and planning FinCon, the annual conference I created for others who do what I do.

2. What’s your point of view, as a personal finance blogger?

I believe we all posses what it takes to have both financial failure or success. It’s up to each of us to decide to which we want. It may take 5, 10, 15, 20 years. But you can have financial freedom if you want it bad enough AND you use smart systems to get you there.

1) I believe in getting high-interest consumer debt out of your life as quick as possible.

2) I believe in rejecting the culture and spending your money according to your own values.

3) I believe in saving your money automatically each month in separate savings accounts (one for each of your goals). This is the secret sauce.

4) Lastly, I believe that once you get a handle on your expenses, you should spend the rest of your energy growing side hustles or a part-time business. This is the way to fast-track your path to financial independence.

3. In one sentence, what’s one piece of sage advice from your personal finance background that you’d like to share with our readers?

It’s never too late to fix your finances so you can live the life you want.

Check out PT Money, sign up for his newsletter or his RSS feed. We know you’ll be glad you did.

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Comment List

  • When we set ourselves on a course for financial independence, I spent the first month lamenting what I wasn’t able to accomplish before, regretting what I wasted. Once I accepted that everyone makes mistakes and it is possible to change, I found peace with our finances and started setting goals. It is truly possible that anyone can make changes at any time!

    • David Auten 02 / 08 / 2015 Reply

      I completely agree Claudia. We both kinda went through those stages ourselves. I think that is what drove us towards finding free and cheaper ways to still have fun. When we were having fun, we weren’t focused on what we had to give up. We were focused on making the right choice. That is why we came up with the NSE (Not So Expensive) and our motto is Be Debt Free, Have Fun and Be Money Conscious. It’s our way of having a good life and still building wealth and not overspending. Thank you again for the comments.

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