161 - How a 7 Figure Net Worth Coach Manages his Finances w/ Zakk Colburn

161 - How a 7 Figure Net Worth Coach Manages his Finances w/ Zakk Colburn

Author: Justin Green, CFP® January 16, 2025 Duration: 50:59

Book a 90 Minute Financial Health Consult to get an actionable plan to better manage your finances.


In this episode of the Dollars and Dumbbells podcast, host Justin Green, a Certified Financial Planner™, sits down with Zakk Colburn, a business coach and the founder of PTBI, to discuss how he manages his business and personal finances.

Zach shares insights on maintaining business cash flow, personal investments, and the practicality of renting vs. buying a home. The conversation addresses the importance of having an emergency fund, understanding the difference between making money and managing money, and the often overlooked aspects of personal finance for online coaches. Zach opens up about his journey of keeping expenses low and strategically investing profit to ensure a balanced lifestyle.

This episode highlights the critical need for coaches to align their business strategies with their personal financial goals.

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00:00 Introduction and Guest Overview

01:13 Disclaimers and Episode Start

01:45 Catching Up with Zach Colburn

02:11 The Importance of Personal Finance for Entrepreneurs

04:16 Building an Emergency Fund

07:46 Mindset and Financial Goals

21:19 Early Financial Struggles and Frugality

26:11 The Emotional Car Purchase

26:28 The Pressure to Look Successful

26:46 The Dangers of Buying Beyond Your Means

29:10 Moving to Austin: Renting vs. Buying

31:05 Challenges of Getting a Mortgage as a Business Owner

32:05 The Real Cost of Homeownership

39:35 Balancing Business and Personal Finances

42:01 Introducing the New Financial Course

48:56 The Importance of Financial Transparency

50:53 Conclusion and Final Thoughts


Justin Green, a CERTIFIED FINANCIAL PLANNER™, noticed a gap between the physical wellness online coaches promote and the financial health of their own businesses. That’s the space where Dollars and Dumbbells-Profit and Wealth Tips for Online Health and Fitness Coaches lives. This isn't just generic business advice; it's a focused conversation for creators in the health and fitness space who are ready to move from passion project to sustainable wealth. Justin, drawing from his work at Assist Financial Planning, digs into the specific money decisions coaches face. You’ll hear practical discussions on managing irregular cash flow, structuring your business finances efficiently, and making sense of investing so your profits work for the long term. The podcast unpacks often-overlooked areas like tax strategy, appropriate insurance, and even estate planning, because building a legacy is part of the goal. Through interviews and solo episodes, the content is designed to translate complex financial concepts into actionable steps. Tune in for a straightforward resource that addresses the unique intersection of personal training and personal finance, helping you build a resilient business that supports the life you want.
Author: Language: English Episodes: 100

Dollars and Dumbbells - Profit and Wealth Tips for Online Health and Fitness Coaches
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