By Stewart Koesten

In my Chinese fortune cookie the other day, the message was:  “Don’t overspend during these times.”

It occurred to me that this advice withstands the test of time.  That’s true no matter if the economy is in a recession or in an upturn.  The emphasis is on “OVER”spend.  It’s fine to spend within your financial plan’s spending plan. It’s when we “OVER” spend that we get ourselves in trouble.

Do you know when you are “OVER” spending or just merely spending?  How do you make large purchase decisions?  It is crucial that business executives build a baseline financial plan that takes into account their goals, their income, their spending budget and their timeframes.  They also need to consider their human capital, work experience, education and skills as well as their financial capital.  This plan can then provide the roadmap for managing day-to-day cash flow and help you make informed decisions about major purchases and career transitions that will affect spending.  It’s hard to know if you’re on the right path if you don’t have a path.  Not knowing could create a faulty financial plan for you that you may not realize until it’s too late. The sooner you know your plan and you’re OK spending but not overspending, the more successful you’ll be in hitting your retirement and other goals.

For more information, schedule a meeting by clicking below, contact Stewart Koesten –, or call (913) 345-1881.

Photo Credit: Tax Credits / Foter / CC BY