Episode Summary: In this insightful episode of the "Work Optional" podcast, Rachael and Matt dive deep into the crucial role of understanding your cash flow to achieve a work-optional lifestyle. They discuss the basics of cash flow, common misconceptions with budgeting, how to track expenses, and the reverse budgeting strategy.

Key Points Discussed:

1. Cash flow basics:
   • The importance of using a percentage of income today to save for future goals
2. Budgeting misconceptions:
   • Budgeting is the process of understanding where your money is going
   • It does not have to be restrictive.
3. Tracking expenses:
   • Look at things on a high level: % of savings vs % of spending.
   • Spend a few months tracking.
   • Compare to the 50/30/20 benchmark.
4. Reverse budgeting:
   • The “pay yourself first method”
   • Invest -> pay bills -> spend

Disclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.

Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.

Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.