May 31, 2019
This episode of The Confident Wealth Podcast with
Bill Bush and Pete Bush is the 6th installment in their series, The
Value of Working with an Advisor. Gain some useful insight on
budgeting and cash flow. Find out how financial advisors can help
clients get a handle on their budgets, find out where their
problematic areas are, and how to go about building healthier
spending and savings habits.
- 00:55 – Bill Bush and Pete Bush introduce the topic of
budgeting and cash flow.
- 02:15 – What exactly is a budget?
- 03:32 – Do clients that budget have a higher chance to build
- 05:39 – What about folks that claim to have their budget in
- 07:32 – What is the value that financial advisors can bring to
- 09:49 – How can Horizon help young people get started with
- 11:35 – What are some ways that advisors help clients get
started with budgeting?
- 13:51 – How can advisors help clients get debt under
- 14:30 – What can be done about long-term goals and freeing up
- 15:52 – Where does money leaking out typically go?
3 Key Points:
- Review your household budget on a month-to-month basis.
- Advisors can bring value to a client’s budgeting by showing
them how to increase savings and investments, how to reduce
- Money can’t bring you happiness. But, if you are worried about
money, it is hard to be happy.
- “What a budget is, is the matching of income and outflows. The
matching of income and expenses.” – Pete Bush.
- “There is some stat out there I read recently that says most
people can’t afford an emergency of over $400. And that’s not much
in this day and age.” – Pete Bush.
- “If you fail to plan, you plan to fail.” – Pete Bush.