How to budget finances and planning out cash flow is not something we were taught in school, or even at home while growing up. It is usually learned by trial-and-error, mostly error. Well, it’s not too late to learn how to manage your money and, since you’re here, you must know this.

The first step to financial freedom is true money management.

We are here to help you with a range of financial services solutions which will help you discover, and use, effective budgeting and cash flow planning techniques. We will help you learn:

• where you spend your money,
• how to spend less and begin saving,
• how to prioritize your expenses,
• how to decide between what you want and what you need,
• how to eliminate impulse buying,
• how to eliminate needless expenses,
• how to enjoy living within your means,
• how to budget finances,

 The first step along the road to financial freedom is a commitment to begin saving

Saving for now and the future…

The key to begin saving is – to begin saving. How you begin, and how much you begin with, is not nearly as important as beginning to save something from every paycheck. Your short-term savings goal is to set aside enough cash to handle emergencies and eliminate the need for credit cards. Your long-term savings goal is to reach a debt-free life and financial freedom.

• Begin saving NOW – or you likely never will
• Emergency savings – your emergency fund will replace your credit cards
• How to save – build your savings into your weekly budget
• Where to save – begin saving at the same place you have your checking account

 Your emergency savings will be just that; money set aside for emergency expenses such as doctor bills, unexpected car repairs, school expenses for the kids. How much cash you will set aside depends on your earnings. For example, if you earn $40,000 a year, you should have at least $1,000 in your emergency savings account. If you make $70,000 a year, you should set aside $2,000 for emergencies. We will help you determine the amount you need, as well as helping you budget for it.

A few quick tips for improving cash flow…

• Meal planning and home cooking – stop eating out, whether  fast food or expensive restaurants
• Reduce or eliminate cable TV expense – get rid of premium channels you don’t watch anyway
• Reduce or eliminate cell phone bill – reduce minutes, texting, web service, or eliminate a phone from your plan, especially the kids’ phones.
• Sell some stuff – use Craigslist and/or eBay to generate some cash for the junk you don’t need
• Take a second job – set aside these earnings for savings and/or debt reduction
• Make a commitment – if you promise yourself you will reduce expenses, you will be more likely to follow through.

Once you’ve taken care of the basics, shelter and utilities, food, clothing, and transportation, everything else is negotiable; negotiable with yourself and/or your partner. If you don’t need it, don’t buy it.

Mapping out your budget…

Knowing where you spend your money is as important as understanding why. Spending and over-spending are subjects we will help you grasp, as well, but first we need to help you understand where you spend. Our budgeting worksheet is a valuable tool which will be tailored to your needs.

How to Budget finances…

Income

Where your money comes from, as well as how much and how often you are paid, is the foundation of beginning your budget. With our help and this useful tool, tracking income versus outgo will soon become second nature for you.

Basic Budget

Where does the money go? Here, in black and white, and sometimes in bold red, you will see where all your cash is going every month. Soon, you will also see exactly where you can reduce your expenses and build your savings.

The Debt Snowball

One of the favorites of Dave Ramsey, and all of us who’ve learned from him, the Debt Snowball is the best tool available for tracking your progress on paying down your debt and learn how to budget finances. We will teach you how to use this wonderful tool, not only to reach your financial goals, but to use it as inspiration to continue on the path toward financial freedom.

Budget Coach Los Angeles & Beyond: We help you with Commitment and Execution…

To reach the goal of financial freedom and a debt-free life requires commitment and the execution of certain steps. We are here to help you make and sustain that commitment, as well as to provide the tools and teaching you will need to succeed. While it is not easy to change the habits of a lifetime, it can be done. We are living proof of that.

We are here and ready to help you do the same.  Contact us today for a free get-acquainted call.