Your Budget Probably Isn't Working Because You're Doing It Wrong

Most people avoid two simple documents their entire financial life — and it's costing them more money than they realize.

If you've ever felt like managing your personal finance is more complicated than it should be, you're not alone. The problem usually isn't complexity — it's a lack of clarity. In this episode, Branden 
Du Charme and Carisa Bertrand break down the two foundational tools that turn financial confusion into a clean, organized money management system: a net worth statement and a cash flow statement.

No software required, no complicated formulas — just honest answers to the two questions most people never sit down to answer: What do I own, and what do I owe?
Here's the trap most people fall into with their personal finances: they assume small accounts don't matter, that real estate wealth means financial security, and that budgeting works the same way for everyone. It doesn't — and the gap between what people think their money situation looks like and what it actually looks like is where most wealth management mistakes are made.

What we cover in this episode:
•Net worth statement basics — assets, liabilities, and the math that creates instant money clarity
•What to include, what to simplify, and why "small" accounts can have big tax and estate planning consequences
•How a net worth statement protects a spouse or partner in a financial emergency
•The asset-rich, cash-poor trap — especially common for real estate owners building wealth
•Cash flow statement fundamentals — personal finance simplified to income minus expenses
•Rigid budgeting vs. reverse budgeting — which money management approach fits your life
•Why taxes and planned savings are the most commonly missed line items in any budget
•Setting a real retirement planning spending target and avoiding the mistake of working longer than you need to
•Using both statements together to manage wealth, plan withdrawals, and reduce financial stress
•Long-term tax opportunities hiding in your numbers — Roth conversions and RMD planning for retirement

Whether you're just starting to build wealth, planning for retirement, or trying to get a clear picture of your money for the first time, this episode gives you the foundation every solid financial plan starts with.

Find Du Charme Wealth Management here:
https://ducharmewealth.com

Phone: 
(435) 288-3396

DISCLAIMER:
Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.

0:00 Net Worth Statement In Plain English
5:20 What To Include And What To Skip
9:51 Organization That Protects Your Family
12:36 Cash Flow Explained Without Fancy Tools
19:40 Budgeting Versus Reverse Budget Reality
22:35 Retirement Targets And Real World Tradeoffs
30:54 Taxes, Roth Moves, And Keeping It Simple