In this episode, Dr. Preston Cherry challenges traditional budgeting and introduces reverse budgeting, a method that prioritizes personal values and guilt-free spending while ensuring financial security. He outlines a five-step approach: knowing your retirement number, automating finances, covering fixed costs, enjoying discretionary spending, and reviewing regularly. His approach emphasizes a holistic, flexible path to financial wellness.
Takeaways:
• Budgets can feel restrictive
• Reverse budgeting prioritizes paying yourself first
• Aligning money with values boosts well-being
• Guilt-free spending is possible
• Regular financial check-ins matter
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Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/
