Confident Wealth

The Value of Working with an Advisor Ep. 6: Budgeting & Cash Flow

This episode of The Confident Wealth  Podcast with Bill Bush and Pete Bush is the 6th installment in their series, The Value of Working with an Advisor. Gain some useful insight on budgeting and cash flow. Find out how financial advisors can help clients get a handle on their budgets, find out where their problematic areas are, and how to go about building healthier spending and savings habits.



Episode Highlights:


  • 00:55 – Bill Bush and Pete Bush introduce the topic of budgeting and cash flow.
  • 02:15 – What exactly is a budget?
  • 03:32 – Do clients that budget have a higher chance to build wealth?
  • 05:39 – What about folks that claim to have their budget in their head?
  • 07:32 – What is the value that financial advisors can bring to budgeting?
  • 09:49 – How can Horizon help young people get started with financial planning?
  • 11:35 – What are some ways that advisors help clients get started with budgeting?
  • 13:51 – How can advisors help clients get debt under control?
  • 14:30 – What can be done about long-term goals and freeing up more money?
  • 15:52 – Where does money leaking out typically go?



3 Key Points:

  1. Review your household budget on a month-to-month basis.
  2. Advisors can bring value to a client’s budgeting by showing them how to increase savings and investments, how to reduce spending.
  3. Money can’t bring you happiness. But, if you are worried about money, it is hard to be happy.


Tweetable Quotes:

  • “What a budget is, is the matching of income and outflows. The matching of income and expenses.” – Pete Bush.
  • “There is some stat out there I read recently that says most people can’t afford an emergency of over $400. And that’s not much in this day and age.” – Pete Bush.
  • “If you fail to plan, you plan to fail.” – Pete Bush.



Resources Mentioned: