A few months ago, I published a podcast episode that took a critical look at the saying and the philosophy that "your network is your net worth." This generated a lot of conversation and feedback, and I enjoyed hearing stories from people about their financial journeys, financial literacy, and sometimes the lack of education or transparency they had with respect to personal finances as they were growing up and some of the challenges this created later in life.
One of my colleagues and friends, Adam Trafton, reached out and shared some of the details about his debt-free journey. It was such an inspiration, I asked if he would join me for an interview to share how and why he paid off his debt so quickly (he paid off $70,000 in student loans and car loan debt in five months!) as well as what he's learned about personal finances and some of the common pitfalls many people find themselves in. Finally, we wrap up with the fun that comes with building wealth and using that wealth to be outrageously generous with other people! We agreed that the best part of being financially secure was the ability to give to people and causes that are important to you.
Finally, I want to add a disclaimer that we are not giving any financial advice nor are we licensed financial experts. Adam shares resources and a program that worked well for him, and encourages you to do the same. We recognized that everyone is at a different place in their financial journey, and this is an opportunity to hear how he changed his behaviors around spending and saving to reach specific financial goals. Your goals might be the same and they might be different, and I welcome productive, thoughtful dialogue and discussion.
About Mr. Trafton
Vice President & Area Chief Resource Officer | Wisconsin
Adam Trafton is the Vice President and Area Chief Resource Officer serving Ascension Wisconsin. In his role, Adam has responsibility for planning, developing, leading, and implementing all measures needed to manage non-labor spend, with a specific emphasis on supply chain. He is also responsible for determining the best approach to control supply and non-labor spend through facilitation of utilization strategies with physicians and clinicians and managing change related to supply and non-labor spend within The Resource Group Wisconsin market.
Adam, previously served as a Director in The Resource Group Deployment Community where he specialized in strategic financial consulting and Group Purchasing Organization (GPO) integration. He has completed 48 healthcare GPO Participant integrations with The Resource Group and is an experienced supply chain and change management leader.
Adam came to The Resource Group from PwC where he supported both audit and tax practices. He has more than 13 years of experience in both private and public sectors, including executive leadership, public accounting, healthcare operations, project management, consulting, supply chain and analytics.
Adam earned his bachelor’s degree in business administration and his master’s degree in accounting from the Richard A. Chaifetz School of Business at Saint Louis University. Adam is also a licensed Certified Public Accountant (CPA).