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Episode Summary: In this insightful episode of the "Work Optional" podcast, Rachael and Matt dive deep into the crucial role of understanding your cash flow to achieve a work-optional lifestyle. They discuss the basics of cash flow, common misconceptions with budgeting, how to track expenses, and the reverse budgeting strategy.
Key Points Discussed:
- Cash flow basics:
- The importance of using a percentage of income today to save for future goals
- Budgeting misconceptions:
- Budgeting is the process of understanding where your money is going
- It does not have to be restrictive.
- Tracking expenses:
- Look at things on a high level: % of savings vs % of spending.
- Spend a few month ...
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