Life Money Balance® Podcast
The Life Money Balance® podcast helps you “let your life lead your money, not your money lead your life” and engage with your journey to create your life's design. The podcast uses compelling conversations that combine money psychology with personal finance topics to improve your well-being and achieve your life aspirations.
Your host Dr. Preston D. Cherry (“Dr. Cherry”), interviews guests and performs solo shows to provide an emotion-safe space where real people engage in real talk and share authentic moments. Let’s chop! Learn more by following @drprestoncherry, Certified Financial Planner, Certified Financial Therapist, University Professor, and Founder & President of Concurrent Financial Planning, www.concurrentfp.com.
Life Money Balance® Podcast
Why High-Income Earners Need Spending Plans Instead of Budgets
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/