Show notes
Why Your Budget Isn't Working (And How to Stop Running Out of Money Before Payday)Are you tired of checking your bank account only to wonder where your money went? In this episode, Luzy sits down with Ricardo Kendrick II, co-founder of Lumi Money, to explore why traditional budgeting often falls short and how understanding your cash flow can help you make more confident spending decisions.You'll learn why your bank balance doesn't tell the whole story, how to stop living paycheck to paycheck, and why knowing your "Safe-to-Spend" number can reduce financial stress and help you stay in control of your money.Episode Highlights00:00 – Welcome and today's topic02:05 – Ricardo's money story and the lessons he learned growing up06:30 – Why traditional budgeting wasn't working10:20 – The idea behind Lumi Money and the journey from spreadsheet to app16:15 – Why your bank balance isn't the same as what you can safely spend21:30 – How Lumi Money calculates your Safe-to-Spend number27:10 – Building trust when connecting your bank account31:45 – Cash flow vs. budgeting: A new way to think about managing money36:20 – The importance of building a strong financial foundation before investing41:00 – Ricardo's definition of wealthResources MentionedCheck out Lumi Money and start your 14-day free trial to discover your personalized Safe-to-Spend number and make confident spending decisions.Ready to build a stronger financial foundation?Get your copy of Cash Libre and learn the mindset and money strategies to help you stop surviving and start building lasting wealth. Hosted on Acast. See acast.com/privacy for more information.