Cash Flow: The Problems & Solutions

There is often a disconnect between clients and their spending that can create issues in producing an accurate financial plan. Clients, especially "spenders," tend to be good at knowing their fixed expenses but ignore their variable, discretionary, and/or unexpected expenses when considering their spending. Furthermore, spending can have emotional roots that financial planners can better understand by using the Klontz Money Scripts Assessment during the data gathering process. It is important for the planner to be able to assess spending issues to know whether they can help or should make a referral to a financial therapist or coach...or in some cases, terminate the engagement.

Learning Objectives:

1. Understand the importance of knowing how much the client is spending - for the planner and the client
2. Learn why the disconnect occurs between clients’ perceived spending habits and their real ones
3. Practice with a tool to help understand the "why" of money behaviors by taking and using the Klontz Money Scripts Assessment