S6E2: Audit your spending
Last week I introduced the nine areas of your finances that we’re going to delving into for our Personal Finance Audit. The idea is that over time, some things get neglected and left to run, and sometimes it’s good to take a fresh, detailed look at these ares to make sure they’re still in good shape in helping you move towards your aims. Today I want to take a look at the absolutely fundamental area of spending…
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Audit Your Spending
I’ve often said that financial planning is essentially about income and outgoings. If you’re building wealth, you need to have some excess income so you can save and invest that over time. If you’re retired and enjoying your money, then your spending rate will be a key determinant as to whether or not you run out of money one day. So no matter what stage of life you’re at, keeping some kind of rein on your spending is important.
As we go through this season, I want to keep the stuff you need to KNOW fairly short, and go long on the practical, what you need to DO stuff.
Here's the cheatsheet I've put together to summarise the things I talk about in this session:
New style bank:
As always there is a transcript available for the entire show. you can get it by clicking the huge blue button below:
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