Ever feel like your money disappears faster than you can track it? In this video, Russell Rivera explores how using a cash-based budgeting system can help create stronger spending awareness. With digital transactions, it's easy to overspend without realizing it. This method offers a practical way to see where your money actually goes and adjust accordingly.
Topics Discussed:
Use cash to control spending
Track every dollar daily
Break the cycle of debt
Increase financial awareness
Build intentional money habits
Transcript:
Hey everybody, Russell Rivera, and this is Sidewalk Talk, and it's a little bit of a different location today. We're right along the banks of the Potomac, but we're at the Cambridge Investment Research Conference outside of National Conference outside of Washington dc. We have the banks of the Potomac in Virginia, right behind us, the Woodrow Wilson Bridge, right over there. It's been four days of learning and just trying to figure out how to help do better for clients and what they're doing.
But today I wanted to talk about people who might want to use a cash based budgeting system. So in this day of mobile payments and credit cards and subscriptions, it becomes really easy to lose track of spending. And some people just aren't that great at doing it, and then they show up and they're in all sorts of consumer debt and they don't really know why. Well, they get frustrated by all that and just try not sure how to dig themselves out of the hole. Well, you can try a cash-based budgeting system, right? So you can make sure that you're using cash as much as possible for all your expenses, and then you actually get tangible feeling as to where the money's really going.
And so that's something that sometimes I've actually tried to help clients with who've told me, Hey, I'm in a bunch of debt and I don't know what to do. And then it just involves journaling and keeping track of every dollar you spend. That's why I'm always trying to help people get the most out of every dollar they earn and use. And this is certainly a way to do that.
So if you're interested in figuring out how to get control of your spending, whether you use cash or electronics and you're not sure where all your money's going, give us a call and we could certainly try to help you figure out where your money's going, how to get control of your spending, so that eventually you can reach those longer term goals and be on the right track. This is Russell Rivera. Thanks. This is Sidewalk Talk. Thanks very much. We'll see you next time.
Russell D. Rivera, CFA, CFP®, is the Founder and President of Voice Wealth Management, an independent financial services firm serving professionals, entrepreneurs, and families in New York City and beyond. Focusing on helping clients make informed decisions about saving, investing, and financial planning, Russell is committed to providing a customized approach that reflects each client’s unique priorities and experiences.