All financial planners like to provide advice on investments and retirement – but few offer much guidance when it comes to budgeting. We think that’s a big mistake.
Learning to manage cash flow is the single most important money skill in personal finance. Everything else you hope to accomplish (saving money, getting out of debt, affording college, etc.) depends on your ability to manage the flow of money into and out of your household. Effective budgeting skills will also help avoid marital spats as you learn how to work as a team to manage money! Take it from me – I’ve been there!
If you have trouble in this area, you are not alone. What used to be a very concrete and visual exercise of cash in and cash out today is very complex and abstract due to the proliferation of credit cards, online payment systems, direct deposit, and ACH transfers. Money flies in and out of the household at light speed. It’s no wonder most families end the month scratching their heads wondering where all the money went!
Some abstract thinkers can do this all in their head, and keep a pretty good handle on their finances. But most people need to learn and practice a whole new set of skills.
This isn’t easy stuff. Behavior changes are often required which take time to master. The concepts themselves are easy – actually putting the concepts to work is not. It takes patience. It takes practice. This is where we come in. We can not only teach you the mechanics, but can act as your accountability partner to help guide and encourage you as you start putting your newfound skills to work.
Give us a call to see how we can help you improve your money management skills and start working toward your goals.