Many of our young medical clients want to become better at managing their cash flow, including reducing their expenses.
While some try to track this manually by way of a spreadsheet for example, the reality is that you need to automate it as much as possible.
There are various platforms such as Myprosperity and MoneySoft that make this exercise much easier.
Many of your expenses will be auto-reconciled to categories such as utilities, entertainment, etc leaving other expenses to be reconciled by yourself – typically you can set up an auto-rule for similar transactions in the future, so you will only have to do this once.
After a few months you will start to get an idea of where you spend your money, so you can take targeted action if required.
It can be quite confronting, but at the end of the day, without a correct diagnosis, your finances won’t get any better.
If you are interested in discussing this, please get in touch with us. We use myprosperity for our clients.
As I understand your time is extremely valuable and scarce, I am able to offer flexible meetings times, including outside business hours and during the weekend. I can even come and meet you somewhere convenient, or talk via videoconference on Skype.
My first consultation is free. I allocate up to 90 minutes to discuss your personal circumstances and to establish how I may best assist you. Where you already have an existing adviser, I would be happy to offer a second opinion. I always quote a fixed dollar fee before we start working together.
Please contact me on firstname.lastname@example.org or call me direct on 0432 885 295. You can follow me on Twitter @YvesSchoof or connect with me on LinkedIn to receive new articles.
Yves Schoof and Affluence Private Wealth are Authorised Representatives of Synchron, AFS Licence No. 243313.
The information posted is intended to be general in nature and is not personal financial product advice. It does not take into account your objectives, financial situation or needs.
Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice and read the relevant product disclosure statement (PDS) or other offer document prior to making a decision.
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