Have you ever wondered where the hole in your bank account is?
Maybe you’ve attempted budgeting in the past, only to abandon it after a few days.
It is our goal with this “Cash Flow Breakdown” to provide you with a simple model to approach your family finances more effectively. In the end, it’s not a matter of how well you plan, but how well you execute.
No two budgets will look the same. Some may prioritize giving more than others. Some may be savers and hesitant to spend money on entertainment.
Whatever works for you, just keep in mind the pain you feel today will pale in comparison to the pain you feel down the road or in retirement if you spend without thought.
- For simplicity, we break down cash flow into essentials, investing, entertainment, savings, and giving. Everyone will have unique categories, but most fit into these.
- Most wealthy individuals and families take on the belief that the pain avoided in the future is worth the minor pain avoided today by following a structured plan.
- A plan is nothing without execution. The initial step involves gathering your family and estimating your monthly expenses. Subsequently, this visual guide can serve as a blueprint to help you allocate your monthly funds where you intend.
If you’d like to sign up for our free eBook and 5 visual guides just like this one, you can do so here. Have a great weekend!