Delayne: Debt Management and Cash Flow Planning for a Health and Travel Enthusiast
Primary Goal: Gain control of her finances by managing her debt and cash flow and creating a budget. Delayne wanted to feel more secure and have peace of mind regarding her finances while still being able to pursue her passions for health and fitness, and travel.
Meet Delayne, a 35-year-old medical administrator passionate about health and fitness and loves to travel in her free time. Despite her busy lifestyle, Delayne struggled with debt management and cash flow planning, as this was the first time she had had a budget. So she reached out to Wolfpack Wealth Management for help, as she felt insecure about what to do with her credit card debt, which had risen to a worrying amount.
Delayne's biggest concern was her debt management, cash flow management, and budget planning. She had never focused on creating a budget before, and with inflation pushing everything to higher levels, she felt she needed assistance to manage her income & expenses. Moreover, her credit card debt was rising, and she was concerned about rising interest rates, making her feel insecure about her finances.
We understood that creating a partial financial plan focusing on Delayne's debt and cash flow management was much more pressing than a complete financial plan. So, we got to work immediately, helping her prioritize her finances and create a plan that would work best for her.
Our first step was to evaluate Delayne's income, expenses, and debts to determine her financial standing. We then worked with Delayne to create a realistic budget that allowed her to meet her financial obligations and still enjoy her passion for health, fitness, and travel.
Next, we looked at her high debt amounts and rising interest rates on her credit cards. We helped Delayne prioritize her debts by suggesting that she first pay off the debt with the highest interest rate. We also indicated that Delayne explored options to consolidate her debt or negotiate with her creditors to reduce the interest rate.
Delayne was pleased with the results of our financial planning and appreciated the personal attention that we provided her with. In addition, our partial financial plan allowed her to focus on her debt and cash flow management, giving her greater financial security and peace of mind.
In conclusion, we were able to help Delayne gain control of her finances by creating a partial financial plan that focused on her debt and cash flow management. By prioritizing her debts, creating a budget, and exploring options to consolidate her debt or negotiate with her creditors, we were able to provide her with a plan that worked best for her. Of course, not all clients are the same; some clients have more pressing needs and may require partial financial planning to then focus on the bigger picture. We provide flexibility based on the client’s needs as we cater to them. If you need help with debt management or cash flow planning, reach out to Wolfpack Wealth Management today to see how we can help you gain control of your finances.
Note: A client or prospective client should construe no portion of the content as a guarantee that they will experience the same or a certain level of results or satisfaction if Wolfpack Wealth Management is engaged to provide advisory services.