756: Communicate, Simplify, and Track Your Personal Finance Budget with Certified Financial Planner John Kennedy

Are you one of those people struggling and having challenges with budgeting? Or have you considered the consequences of not budgeting at all? There’s nothing more comforting than living a life knowing where your money goes and affording a comfortable lifestyle because you plan your finances well. Wherever you are in your phase of life, you have to budget. We all know it’s good for us but sometimes, there isn’t just enough force to drag us there.

John Kennedy is a certified financial planner with CandorPath Financial. Today, John talks about the importance of budgeting, a topic many people avoid due to discomfort. He emphasizes the need for budgeting at all life stages and introduced his money management course, which focuses on communication, simplification, and tracking expenses to help listeners gain control of their finances.

Quotes

“Oftentimes, when we feel like we're not good at something, what do we do? We try to avoid interactions with that thing that we're not good at.” - John Kennedy

“You have to budget. You need to have good cash flow. You have to understand where your money is going.” - John Kennedy

“Using a debit card or cash really connects you to your spending habits. It really makes you in tune with how much or how little you're spending.” - John Kennedy

Takeaways

01:18 Budgeting is crucial for financial well-being, regardless of one's life stage.

03:35 Open communication about finances, especially with a spouse, can improve relationships and avoid conflicts.

04:50 Setting simple, achievable 90-day goals can make budgeting more manageable and sustainable.

06:36 Using cash or debit cards instead of credit cards can help people stay connected to their spending habits.

07:18 Tracking expenses, whether through pen and paper or technology, provides valuable insights into spending patterns.

Resources

Podcast: Play in new window | Download (Duration: 9:38 — 9.0MB) | Embed

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Filed in: Archive 4: 2020-2023 • Interview • Podcast

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