Cash is the oxygen in our life. Without the cash to afford our basic needs, our wants, and even luxury; life becomes far more difficult and stressful. 80% of spousal fights are about money and 50% of divorces are caused by financial stress. The reason is always spending and cash flow.
Some call it a “budget”, but we call it a “Spending Plan”. Either way, the purpose is the same, to help you know what you have, what you need, and plan to live within your means. There are times that you will choose to overspend and increase debt. The goal is to make a careful decision that is mutually agreed upon with your spouse or dependents.
A Savings Plan is simply the setting aside of current income to satisfy a future need. Debt is the use of future income to purchase a current need or want. Some debt can be a good investment (examples- home, basic car, education). But, it is never good to use debt to finance vacations and luxury purchases.
Cash is a limited resource, so it must be managed. Through financial industry studies, we know that the greatest financial lessons from parents come when careful pragmatic planning creates the opportunity to spend more money later on things or purposes that are of greater importance or priority. Kids remember their parents discussing their budgets, choosing the spending together, and accepting the trade-offs. Those discussions that set financial priorities and limited activities, later allowed for the cash savings to help pay for clothes, cars, college, and weddings.
Through our financial aggregation tools and our conversations with you, we seek to help you identify your priorities and assist in developing disciplines that “keep your spending within your means”.
Your Life-Legacy Spending Consultant will help you create your spending plan, achieve your spending plan, and find opportunities to negotiate the reduction of monthly expenses. They will create a debt reduction plan that uses refinancing and other pay-off strategies to reduce the debt as quickly as possible.
We help you identify the right balance for your Need, Want, and Luxury Spending.
Through all of this, our goal is to help you avoid frustration and fights with your spouse, parent, child, or significant other, since your spending habits are connected to your short-term and long-term goals.
There is a Reason You Earn Money , and There is a Reason You Spend Money
(The Problem is that they are not always the same reason)
Money is a Resource - It can be Used Well or Wasted Easily. We Believe that many of the spending problems and debt Levels come from Impulse purchases. Those purchases can be reduced if we discover the psychological reason for the spending and create systems that prevent unplanned spending from occurring.
Our Advanced Review of Your Spending Seeks to Reduce Expenses and Discover Your Psychological Triggers that cause the Failure to Plan and the Impulse Buying. We Simplify Your Savings Methods and Automate As Much of the Saving Process As Possible. Our Efforts Seek to Save Money, Marriages, and Dreams
Through the advanced review and more in-depth questionnaires, we attempt to help you discover the reason for the spending and debt levels and develop processes to make sure that money is automatically saved and that bills are automatically paid. We help you classify all spending into Three Basic Categories - NEED, WANT, and LUXURY.