Financial Health

Budgeting can be counter-productive and leave us feeling worse than when we started. We’ll go through a period where we feel “spending shame.” We’ll get motivated to create a budget and stick to it. There are some people that can thrive on a budget. Others will stick to it for a few months and gradually stop. The last group will just outright rebel.

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.

  • Taxes
  • Debt
  • Personal Spending
  • Savings

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

Event Announcements: 

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.

Register Here

Save the date: Oct 7th is our annual Tax Shredding BBQ. Stayed tune for more details….

Andrew Eppes, RICP®

Andrew Eppes is a registered representative of and offers securities and investment advisory services through MML Investors Services, LLC. Member SIPC. Nexus Advisors, LLC is not a subsidiary or affiliate of MML Investors Services, LLC, or its affiliated companies. 14241 Dallas Parkway Suite 1200 Dallas, TX 75254 972-348-6300.

Clear a Bold Path

Toward Total Financial Health