Why do I need a cash flow management system?
Does an unexpected car or home repair blow your monthly budget? Do you feel like you’re never able to save enough for a vacation? Do you worry about whether you’re going to have enough for retirement but you don’t even know what you have?
If the answer is yes to any of these questions, you could benefit from a cash flow management system like Bucket Budgeting.
Not only does it help create the framework around which money decisions should be made during one’s lifetime, but it also creates the knowledge to help one adequately plan and prepare for the future—whether that be proactively planning for a short-term goal or more commonly, planning for retirement.
How can I simplify paying bills?
We see it time and again--some clients struggle with paying bills. It’s not that they don’t have enough money. It’s that they don’t have a workable system and sometimes miss a payment or have to dip into savings for a big bill.
We’ve investigated a number of systems from budgeting apps to three tiered cash flow management systems. However, they all seem a little overkill to us. We’re into simplicity. Below is our four-step process to paying bills on time with little fuss.
- Set up your bills on Auto Pay.
- Escrow monthly for the non-monthly bills.
- Consider a Flex Account.
- Know what’s coming.
How do I prepare for rising healthcare costs?
Retirement can be an exciting phase to plan for, but the age at which you retire may have a significant impact on your cash flow boiling down to one huge factor…health insurance.
It’s becoming more common for people to continue working until they reach the magical age of 65, Medicare age. As healthcare costs continue to rise, it’s extremely important to have a plan in place for how you will pay for it and how that cost might affect the affordability of other goals you may have in retirement.