Andy Stockett | Managing Money as a Fishing Guide | Tom Rowland Podcast Ep. 768

Andy Stockett is a fishing guide with 15 years of experience guiding in locations from the Florida Keys to Alaska to the Caribbean, who grew up in an outdoor family with a father who was a hunting guide and grandfather who was a fishing guide. In this episode, Andy reveals the specific financial strategies that transformed his guide business from living trip-to-trip to building sustainable wealth—including the exact spreadsheet system he uses to track every expense, the separate bank account structure that makes taxes painless, and the pricing formula most guides get dangerously wrong. If you're a guide struggling with inconsistent income, uncertain about what you actually net after expenses, or wondering how to price your trips without leaving money on the table, this conversation delivers the framework you've been missing.

The Spreadsheet System That Changed Everything

Most guides operate in financial chaos—estimating expenses at year-end, mixing personal and business accounts, and getting blindsided by tax bills. Andy takes a radically different approach. He tracks every single business expense in real-time using a categorized spreadsheet system that breaks down fuel, maintenance, insurance, licensing, and more. At the end of each month, he calculates totals for each category, giving him crystal-clear visibility into where his money goes and revealing opportunities to cut costs. When he notices fuel costs spiking in a particular month, he can investigate why and adjust. This isn't complicated accounting software—it's a simple spreadsheet discipline that most guides skip, and it's costing them thousands. Andy explains his complete tracking system starting at the beginning of the episode.

The Bank Account Structure That Makes Taxes Painless

Here's where Andy's system gets brilliant: he maintains a completely separate bank account for his guide business. All business income flows into that account. All business expenses come out of that account. Then he pays himself a regular salary from the business account to his personal account. This separation does three critical things—it keeps finances organized, makes calculating net income effortless, and turns tax preparation from a nightmare into a simple process. But there's a second layer most guides miss: every month, Andy calculates his estimated tax obligation and moves that money into a separate savings account. When April comes around, the money is sitting there waiting. No scrambling, no panic, no debt. The complete bank account strategy unfolds in the middle section of the conversation.

The Pricing Formula Most Guides Get Wrong

Andy believes most guides dramatically undercharge for their services, often out of fear they won't get the business. His pricing approach starts with cold math: he calculates his actual boat operating costs per day, adds his other daily business expenses, and establishes a baseline for what it costs to provide a guide trip. Then he adds a reasonable profit margin on top. But here's the nuance—he also factors in the value he provides. An experienced guide with a high success rate can and should charge more than someone just starting out. Andy prices competitively within his market but refuses to undercut himself just to fill the calendar. Undercharging might win short-term bookings, but it makes sustaining a guide business over the long term nearly impossible. The guides who thrive understand their worth and price accordingly. Andy breaks down his pricing philosophy and the specific factors he considers throughout the conversation.

Building a Business That Survives Slow Months

Inconsistent income is the reality of guide life—winter can be feast while summer might be famine, depending on your location and fishery. Andy's solution is disciplined savings. Every month, regardless of how good business is, he puts a set percentage of income into a dedicated savings account. This isn't money for future investments or big purchases—it's survival capital for slow months. When bookings dry up, he's not panicking about covering boat payments or living expenses. The money is already there. He also invests strategically in his business, but he thinks carefully about return on investment before spending. A new boat, better equipment, or marketing investment has to make financial sense, not just feel exciting. This combination of defensive savings and offensive investment is what separates guides who build sustainable careers from those who chase every season hoping it works out. The complete financial survival strategy starts around the midpoint of the episode.

Final Thoughts from Tom

This conversation with Andy is one of the most practical episodes we've done for anyone in the guide business or thinking about becoming a guide. So many people love fishing and dream about making it their career, but they don't think through the financial realities. Andy lays it all out—the good, the challenging, and the systems that actually work.

What I really respect about Andy's approach is that he treats this like a real business. He's not winging it or hoping things work out. He's tracking expenses, separating accounts, planning for taxes, and saving for slow months. These aren't sexy topics, but they're the difference between guides who last one season and guides who build 15-year careers.

If you're guiding, or if you're in any business where income fluctuates, there's something valuable here for you. Andy's generous with the details and speaks from real experience. Listen to the whole thing—you'll walk away with a framework you can actually implement.