78 | Tracking vs. Budgeting - How to Actively Manage Your Finances

Today’s episode is about highlighting the difference between tracking and budgeting. Many coaching consultations focus on a client’s frustration with managing money. These six-figure earners are living paycheck to paycheck, struggling to pay down debt, and unable to reach saving goals. Most clients come to me with some sort of tracking system they use to “budget.” But listing out bills and tracking expenses is a passive activity. That isn’t budgeting. To help explain the difference between tracking and budgeting, I share a client example. Tune in as I detail her journey from passive money management to proactive planning and saving.  Finally, I share three steps you should take to actively budget. Remember, effective budgeting isn’t about restriction. It is about naming and assigning every dollar to protect your future money goals, increase financial awareness, and spend in ways that are important to you.  During this episode I want you to ask yourself… [18:00] As we think about the difference between tracking versus budgeting, I want you to ask yourself: Am I tracking or am I budgeting? Tune in to this episode of Money Files to learn the difference between tracking and budgeting so that you can proactively manage your finances in a way that serves your money goals.  Get full show notes and the episode transcript: https://wealthovernow.com/tracking-vs-budgeting---how-to-actively-manage-your-finances/ Links mentioned in this episode… Set up a call | Financial Coach Washington, DC | Wealth Over Now The Critical Link Between Budgeting and Financial Awareness - Wealth Over Now How to Budget for Clarity & Confidence Rethink Your Numbers With Values-Based Budgeting Join The Waitlist For My Next Money Class