Cash Flow/Budgeting

A budget should be the foundation and core to your financial plan. Whether you use a spreadsheet, pick up that pen, use an online tool or a more sophisticated financial planning program, projecting your retirement income and expenses is paramount to having a successful retirement.

Without a budget, how can you really know or plan for how much you are saving and whether you’ll reach your magical number needed to retire.
When you prepare a financial plan, the first thing you want to do is look at everything you currently have, i.e., all of your savings, the value of your home, the value of your retirement accounts, and the value of your other assets and compare with your mortgage liabilities, your credit card debts and other liabilities you may have.
Next, you'll want to analyze your monthly cash flow.  Every month, you'll receive a certain amount of income and have a certain amount of essential expenses, (rent/mortgage utilities, groceries, car insurance, etc).  The difference between the two is how much you can save or spend on discretionary expenses, (i.e., dining out, entertainment and travel, etc.), assuming the total is positive. 

Once you have an understanding of these amounts, you can then begin to analyze your saving and spending patterns in order to prepare a savings strategy.

We can assist you with:   

 Creation of budget and cash flow analysis               
 Explain various components of the cash flow analysis
 Review effect of inflation, taxes, and expenses
 Emergency reserve planning
 Liquidity strategies  
 Debt management strategies 
 Saving and accumulation strategies
 Understanding the family finances