I know, I know, it seems so strange to have a financial planner that specializes in debt repayment and cash flow tell you to ditch your budget, but that's EXACTLY what I want you to do!
WHY? Because your budget doesn't work. And here's why:
1) If you aren't seeing your debt go down and on track to be eliminated in 3 yrs; your budget doesn't work.
2) If you find yourself unable to stick to your budget and continue to overspend; your budget doesn't work.
3) If you find yourself unable to enjoy your hard earned dollar with a massage, latte, or manicure because your budget is too lean; your budget doesn't work.
4) If you find you don't have enough money leftover to put in insurance, save for the future or invest; your budget doesn't work.
So what can you do?
You need a CASH FLOW plan! Here are the major differences between a budget and cash flow plan:
1) You are able to enjoy your hard earned dollars and still doing the things that bring you joy, because your Cash Flow plan is flexible.
2) You are able to pay off your debt in 3 yrs or less (in most cases, not including your mortgage), because your Cash Flow plan includes a debt repayment strategy.
3) You are able to save for the future and enjoy the present, because your Cash Flow plan has these areas addressed FIRST.
You probably at this point think I'm absolutely crazy and are likely thinking "where does all the money come from to do all of these things?!". A cash flow plan identifies your major money leaks and works within your normal buying behaviour and money mindset to help you achieve your financial goals.
We get to the root cause of your spending, and identify your financial goals and then put in place a customized plan that works for you!
A budget normally is just income - expenses. Logical and rational. However, if it were that easy, none of us would have debt, and we would be swimming in cash. A cash flow plan brings in the HUMAN behaviour element -- since money, spending, saving is EMOTIONAL in nature.
So while a budget is like a salmon trying to swim upstream, a cash flow plan goes with the current and is flexible enough to account for things that are normally NOT "in your budget".
If you want to learn more about a cash flow plan, I invite you to take a look at this, and book in a FREE 30 minutes call (available for Canadian and US residents only) to see if this will help put you on the path to financial freedom.
And as of today (July 1, 2020) ....I have a 100% success rate with my clients! A stat I'm proud of and know that YOU too can achieve your financial goals....with just a little bit of my help!
Yours in financial health,