Transcript of video:
Interviewer: Good morning, welcome back. Obviously, we tend to be a little bit more active during those summer months, and activities can take a toll on our monthly budgets. So, what are some tips to help keep an eye on the money and the cash flow as we are out trying to be so active, and enjoying the summer?
Kurt: Well, it begins with knowing ourselves pretty well, and knowing our habit patterns, the discipline that we have, or don’t have, as it comes to managing our cash flow. That can include looking back over last summer, and what are some of the tendencies we had last summer? You know, was it all of those trips to the pool? Trips to the lake? On and on the list can go. Once we understand those habits and kind of understand the level of discipline we have, then we can begin to make a decision about, “Okay, am I ready to take it to the next level this summer? Or do I want to do kind of like I did last summer, just kind of forget about it, sweep it under the carpet?
Interviewer: Which is probably not the most advised. And watching and managing your cash flow and monthly income isn’t just the only thing we should be monitoring.
Kurt: Oh, yeah. The financial picture doesn’t just stop just because we hit the summer months, right?
Kurt: So, the old adage in the stock market, of course, is sell in May and go away, and wait until the fall. Well, that can lead to some problems for most investors, especially if they aren’t watching, like, their 401K balances and some of their other investments, money that they’re counting on for some of their serious goals. You need to keep up your monitoring, even during the summer months, because that can be an important timeframe, and some added volatility, based on what can happen in different asset classes.
Interviewer: That’s another really good point. Now, what are some tools to sort of help us along?
Kurt: Well, technology can really make things simpler when it comes to monitoring our cash flow, and that’s what we really encourage folks, to find the right technology to help them so it doesn’t become burdensome. That can really help, especially during the summer, when our schedules get a little bit crazy sometimes, and we are doing some of those spontaneous activities because it stays light until 9 p.m., right?
Kurt: So use the technology, kind of keep track of your checking account balance, the categories of where your money’s going, that can really…there are great tools out there these days for that.
Interviewer: Yeah, know when the state fair comes on that calendar, because you want to save up for that. If people want to get a hold of you, if they have any questions, how can they go about doing that?
Kurt: We’re located out in West Des Moines. Our website is the best place to learn about us, cfs00417.hmdev.
Interviewer: Kurt Pearson, thank you so much for joining us.
Kurt: Good to be here.