MINT HILL, NC – As we continue on our journey, this week’s article is about cash flow.  We like to think of cash flow (budgeting) as a lifestyle not like a diet.  Don’t try to balance your cash flow like you are on a crash diet.  Think about when you go on a diet and you try to cut out fries, but the moment you get tired of this diet, you run straight back to your old habits.  Budgeting needs to be more of a way of life.

At Fulcrum, we like to think of the financial planning process like building a house.  The most important part of a house is the foundation.  Analyzing cash flow is key just like the foundation!  There are two types of expenses.  Core and Discretionary.  Examples of core expenses are your mortgage/rent, utilities, food, etc.  They are mandatory in order to live.  Now let me say, you can decrease these core expenses but they are still required.  Discretionary expenses include all of the other things we spend money on that are not a must.  Examples include going out to eat, going to the movies, donating, etc.

Let’s start by building a budget.  Income – Expenses = Lifestyle.  If you would like to take the first step in planning, please let me know.  I am happy to help you.

Let us help you find your clarity of purpose!

To discuss further, please contact me at (704) 817-4480 Option 2, or by email at mmiller@fulcrumwealth.com.