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\n\nThanks to our Partners, AAPEX, NAPA TRACS, and Automotive Management Network\n\n'Business by the Numbers' Podcast host Hunt Demarest discusses common financial mistakes, emphasizing the importance of building long-term wealth through prudent financial management and investment. The conversation covers managing personal and business expenses, the impact of government programs, and the necessity of maintaining financial reserves.\n\nHunt Demarest, CPA,\xa0Paar Melis and Associates, Hunt's previous episodes HERE\n\nBusiness by the Numbers Podcast\n\n\nShow Notes\n\n\n\n

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• Watch Full Video Episode
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• The Brakes for Breasts initiative (00:00:01) https://www.brakesforbreasts.com/
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• Rich vs. Wealthy (00:03:09) The distinction between being rich and being wealthy and the financial habits of wealthy individuals.
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• Money Mistakes and Business Finances (00:04:55) Common money mistakes made by business owners and the importance of long-term wealth building.
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• Personal and Business Expenses (00:06:09)\xa0The impact of blending personal and business expenses and its effect on financial statements.
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• Year-End Financial Review (00:09:14)\xa0The importance of assessing business finances at the end of the year and avoiding unrealistic financial judgments.
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• Impact of Government Programs (00:10:33)\xa0The impact of government programs on business profitability and the potential consequences of misusing funds.
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• Business Trends and Demand (00:11:53)\xa0Analysis of business trends, demand, and the need for realistic profit expectations in the automotive industry.
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• Cash Flow Management and Reserves (00:13:59)\xa0The importance of cash flow management, emergency funds, and the role of credit lines in business financial planning.
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• AAPEX 2024 Registration (00:17:37)\xa0https://www.aapexshow.com/
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• NAPA TRACS Shop Management System (00:18:47) http://napatracs.com/
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• Labor Rate Tracker (00:19:53) http://LaborRateTracker.com
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• Managing Credit Lines (00:20:48)\xa0Discussion on managing credit lines, including the importance of using and managing credit effectively.
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• Cash Management and Financial Statements (00:21:49)\xa0Insights into managing physical cash, reconciling financial statements, and the importance of accountability.
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• Overspending and Budgeting (00:23:59)\xa0Discussion on avoiding overspending, budgeting investments, and making decisions based on return on investment.
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• Insurance and Protection (00:26:42)\xa0Importance of having the right insurance coverage and protecting assets and future liabilities.
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• Return on Sales and Advertising (00:27:46)\xa0Explaining the concept of return on sales and the importance of evaluating advertising spending based on return on investment.
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• Bookkeeping and Financial Timeliness (00:29:30)\xa0The impact of timely and accurate bookkeeping on business performance and decision-making.
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• Cash Flow and Long-Term Planning...