Where Does the Money Go?: Introducing a Simple Method for Real-Time, Adaptable Management of Cash Flow, Expenses, Savings, and Debt
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About this ebook
Introduces a novel method for daily money management
Presents an alternative to budgeting that features real-time adaptability and continual flexibility
Improves awareness and control of finances
Eliminates the surprise factor when receiving bills for credit cards or other debt
Simplifies decision making regarding all purchases or expenses, whether planned or unplanned
Provides the ability to instantly determine the impact of all purchases or expenses on your short and long-term financial picture
Overcomes the challenges of budgeting, including the fact that budgets are updated only monthly, don't provide realtime adaptability, and are not adhered to for very long
Provides one number with which to manage daily discretionary purchases and expenses
Allows you to live comfortably in a lifestyle of spending based on your cash flow
Brian Schweitzer
Brian Schweitzer is a writer who has created a simple method for management of personal finances that provides daily adaptability for life's continual changes. He has an M.B.A. from St. Francis University, and lives in Ledyard, CT with his wife and children.
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Book preview
Where Does the Money Go? - Brian Schweitzer
Contents
Preface
Chapter 1
Introduction
Chapter 2
The One Number Mindset
Chapter 3
Preparing the Mind
Chapter 4
Definitions of Key Terms
Chapter 5
Prioritization
Chapter 6
Forecasting
Chapter 7
Daily Management
Chapter 8
Monthly Maintenance
Chapter 9
Best Made Plans
Notice
About the Author
How to Order Worksheets
Additional Information
for Alicia, Victoria, and Isabella
Preface
I am fascinated by the ability of some people to create wealth out of modest incomes, yet not seem to cut any corners regarding their lifestyle. I see some individuals live comfortably, while others seem to stress over every dollar spent while earning the same relative income. For people other than the wealthy, is the amount of income the key determinant for financial stability and lifestyle, or is it one’s ability to manage money on a daily basis? I don’t know the answer to this question based on any study, research or quantitative data. However, I do know from personal experience that if you do not have a system that allows you to be keenly aware of your financial situation, money can easily disappear or be spent on unnecessary purchases, and debt can grow to the point where it dominates your financial picture.
After going through the process of paying off a considerable amount of accumulated debt, I began to look back to recall my history of spending and wonder where all of my money had actually gone. I found myself still paying off debt for things that I no longer used, and in some cases couldn’t remember buying. In addition, I often wondered about the timing of certain purchases, and why I was driven to make the purchase at a specific time. Why couldn’t I have just saved for a while to make a purchase, based on the discretionary money that I had available, rather that buying on impulse and having an immediate, monthly financial impact? The level of debt was not necessarily more limiting to my financial picture than the lower level of flexibility that I had with large debt payments. However, neither compared to the flexibility available if I at least thought through the process of paying for a major purchase or need ahead of time.
I made a decision to never put myself in that position again, and decided to develop a method to actively manage my cash flow, debt, and savings. Most importantly, I wanted the ability to make real-time adjustments to my money management method, to be able to avoid surprise bills, and to absorb unexpected expenses with minimal impact to my overall financial picture.
The method that I developed included some documentation and notes, but became mostly mental after a while, and really made a difference in my financial stability. After a long period of witnessing, reading and hearing about the challenges that many people face with daily money management, debt reduction, and building savings, I decided to attempt to document my process for others to use.
The result of my effort to document this method is presented herein. I have written the book in a direct and concise manner. The thought processes and calculations, while not difficult in terms of the ability required, may take some practice due to the change in mindset required in order to work them into your financial picture. However, after you get the method, it is simple, not