How Can Busy Physicians Monitor Spending Without Wasting Hours

<p>Does it take you hours and hours to count and track every single expense, every single month? How can you monitor your spending without spending too much time that you do not have and cannot afford to waste?&nbsp;</p> <p>In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about how busy physicians can monitor spending without wasting hours by using a basic system that he developed to keep a pulse on cash flow and total household expenses.</p> <h3><strong>Topics Discussed:</strong></h3> <ul> <li>Goal: Make sure you&rsquo;re not overspending or that your spending is aligned</li> <li>Cash Flow Tracking System: Shows if you&rsquo;re on track or you&rsquo;re slipping up</li> <li>Do&rsquo;s and Don&rsquo;ts: System only works if you do pay off credit card debt monthly</li> <li>Cash Balances: System watches them over time based on your spending</li> <li>Numbers: Starting cash balance, income, ending cash balance, and expenses</li> <li>What do your expenses need to be? What if they aren&rsquo;t what they should be?</li> <li>Financial Plan: Decide how much for your lifestyle vs. spending vs. values/goals</li> <li>Categorization: Come up with categories that you want to sort everything by</li> <li>Expense Audit: Identify and plan what to cut/reduce by stopping/changing habits</li> </ul> <h3><strong>Links:</strong></h3> <p><a href="https://financeforphysicians.co/contact/">Contact Finance for Physicians</a></p> <p><a href="http://financeforphysicians.co">Finance for Physicians</a></p> <h3><strong>Full Episode Transcript:</strong></h3> <p>What&rsquo;s up, everyone? I am recently returning from a podcast conference. Basically, a bunch of people like myself got together, shared ideas, and talked about how to improve.</p> <p>My goal up to this point has been just to basically produce episodes and share as much value as I can. Now that I&rsquo;ve been at it for (I guess) a little over a year, maybe close to a year-and-a-half, the goal going forward is to start to proactively grow and