Budgeting & Cash Flow Management: What You Really Need To Know (Ep. 22)

Are your expenses controlling you, or are you controlling your expenses?

Budgeting is the first step to achieving financial success and comfortability.

In this episode, Mike Dukovich unveils the importance of financial literacy and budgeting for achieving financial success. Mike sheds light on the SMART acronym while detailing the value of tracking and analyzing expenses and ways you can use tools (like budgeting apps or spreadsheets) to create a realistic budget and set financial goals.

Mike discusses:

• Using the SMART acronym (Specific, Measurable, Attainable, Relevant, Time-bound) as a framework for managing your finances
• The concept of a ‘slush’ fund for occasional splurges
• How to assess all sources of income and accurately track expenses
• Ways to round up and categorize expenses
• Tips to analyze expenses to create a realistic budget
• And more!

Resources:

• Breaking Down Financial Jargon: Understanding the Basics of Financial Literacy (Ep. 21)

Connect with Mike Dukovich:

• [e-mail]
• MichaelDukovich.com
• [phone]
• RBC Wealth Management
• LinkedIn: Mike Dukovich
• LinkedIn: RBC Wealth Management