Why Cash Flow is Important
Cash Flow is the money coming in from income and going out from expenses on a monthly basis. Effectively managing your cash flow is critical to put you into control of your money rather than it being in control of you.
Cash Flow Management
Cash flow management and planning is one of the key foundations to your overall financial planning strategies now and into the longer term. How much you need to live on today is often not reflective of what you will need once you reach retirement from the workforce as you will have time on your side which may result in the desire to spend more funds on travel and lifestyle.
Money Mechanics can assist with the following to get your cash flow in order.
- Set up a cash flow framework and budget to manage your money.
- Create a savings plan to achieve your financial goals.
- Keep you accountable to your plan and helping you to track spend and income vs budget
There are a number of great resources online to help you set up and manage your budget. For example Moneysmart is a great site and has a budgeting template. Once you have completed this, you will know what your financial position is each month and we can work with you to manage the difference, whether it’s to save, invest, or structure your finances to effectively manage debt.
If your able to save money each month, we recommend creating a savings plan. You can find a savings goal calculator online to help with this process.
If you would like a copy of our cash flow planner contact us today.