|There is a better way to look at spending that can help you avoid the spend, shame, budget, repeat, cycle.
We need to reframe the issue. There are four places your money goes.
- Personal Spending
Budgeting usually only focuses on personal spending.
Here is a challenge. Put your estimated annual numbers next to these items. Total them. Then put the percentage each item represents.
Now we have a way to see, based on your goals, years to retirement, and current assets, whether you are using your income wisely.
The ideal percentages are going to differ by age, income, and current assets. But now you have real-time information that you can use to make informed, strategic decisions on how to get taxes, debt, personal spending, and savings, into balance.
The result is that you can enjoy your spending today, without tracking each individual item, because you have confidence your plan is on track.
Check out Nexus Advisors Whole Picture Financial Planning
We’re hosting a Family Business Forum on Sept 28th at Prestonwood CC with a golf event afterward. We’d love for you to join us.
Save the date: Oct 7th is our annual Tax Shredding BBQ. Stayed tune for more details….
Andrew Eppes, RICP®