Episode 48: Where Does Your Money Go?
by Financial Design Studio, Inc. / July 22, 2024You probably have questions about your money. We think most of the answers depend knowing where your money actually goes. So, in this episode we help you figure that out. By understanding your personal cash flow, you analyze how you spend and begin to plan for bigger goals.
Take a listen right here, or head over to your favorite steaming platform!
Key Moments
1:05 The biggest question financial advisors hear
10:24 Why is knowing your cash flow important?
18:20 How to breakdown your income
24:38 How to break down your expenses
30:57 Tools to analyze your spending
42:13 Closing thoughts
Links Related to Rob’s Story
We found those stats from this NerdWallet article!
Watch our video on planning your cash flow in retirement.
Read this article from The Joint Account about finding your spending limits.
Here’s how to calculate your spending without a budget.
Stay Connected!
If you want to hear even more episodes, like this one, be sure to subscribe to the Behind the Designs podcast on your favorite streaming platform! The Behind the Designs podcast shares with you an inside perspective at how financial advisors think about money. We’ll see you in the next episode.
Credits for Episode 48
Host and Executive Producer: Anna Lewis
Guest : Michelle Smalenberger, CFP®
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Recommended Reading
Ep 77: What It Takes To Make an Impact on Your Beneficiaries
In this episode, we discuss thinking of your estate as an act of giving to better impact your beneficiaries, what they receive, and when.
Ep 76: Estate Planning Mistakes that Complicate the Inheritance Process
In this episode, we discuss mistakes we've seen in how assets are passed down and the ways paperwork becomes your beneficiaries nightmare.
Financial Design Studio, Inc.
We are financial advisors in Deer Park and Barrington, IL. A team with a passion for helping others design a path to financial success — whatever success means for you. Each of our unique insights fit together to create broad expertise, complete roadmaps, and creative solutions. We have seen the power of having a financial plan, and adjusting that plan to life. The result? Freedom from worrying about the future so you can enjoy today.