82: Budgeting 2.0

The Wealthy Mom MD Podcast with Dr. Bonnie Koo | Budgeting 2.0In this installment of our mini-series all about spending, we’re discussing budgeting – or spending plans, as I prefer to call them. Creating a spending plan is one thing, but executing it is another thing altogether. But don’t worry because I’m showing you how to do both in this episode.

I know budgeting never feels luxurious, but it’s an incredibly important step when you’re in the building phase of wealth.

This is actually a replay of episode 26 of the podcast, all about how I create my own spending plans and how I teach them inside my program. And since this episode came out over a year ago, I’m sharing what I’ve learned since about why we feel resistance to doing the uncomfortable things that make our lives easier in the long run.

I’m running a live workshop on Sunday, November 7th called How to Stop Overspending Without Feeling Deprived. We’re expanding upon what I’ve been discussing over the past few episodes, and there will be a Q&A. So if you want to stop overspending, click here to save your spot!

If you're ready to take control of your money and practice medicine on your terms, you need to check out Money for Women Physicians. Click here to learn more!

What You'll Learn from this Episode:

  • Why we feel so much resistance to the idea of creating a spending plan.
  • My philosophy when it comes to paying yourself first.
  • Why managing your cash flow properly is critical when it comes to building wealth.
  • How not being clear on exactly where your cash is going is only adding to your anxiety around money.
  • 4 simple steps for analyzing your cash flow and implementing a spending plan that aligns with your long-term money goals.

Listen to the Full Episode:

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