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Posts Tagged ‘cash flow’

The term “cash flow” is often heard when the financiers referred to money and how it has generated and spent. What is less known is that this concept can also be usefully applied to our individual economies.

Did you open your wallet at the end of the week, and to his surprise, found in the interior, only $ 2? To make matters worse, he knows that on Monday morning, had gone to an ATM to cash out as much as $ 100 from your checking account. Where did that money end up?

In the hustle and bustle of everyday life, it’s easy to lose track of where our money goes. Unfortunately, it is very difficult to develop a financial plan, unless you know how much money you have and where it plans to spend this money effectively. This is called your “cash flow”. Knowing you, you can help you decide in a realistic way what your financial goals, and how long it will take to reach them.

Get a calculator and be prepared to learn how to win and how you spend your money.

Your earnings
Not all revenues are included in the monthly salary. Money can reach into their pockets from a variety of sources, including interest from bank accounts and investments. To calculate your income, then, needs to identify all the ways you get money every month, and year-round. Write down your monthly earnings and annual income.

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1. Take a look at your real estate taxes
In many countries, real estate values have leveled off or decreased. If your tax burden is above the resale value of your home, consider addressing the City to handle the compensation for the difference.

2. Reduce your debt with credit card
It makes little sense to pay the typical interest credit card, the order of 40 to 50 percent annually when there are other options. If your debt with the credit card is having a negative effect on your cash flow, consider getting a personal loan in the same or another bank to refinance at a rate acceptable to the money owed, and definitely restrict the use of your credit card.

3. Automate your banking
Today, many banks charge a fee for doing operations on “window.” If you completely manages ATMs not only save this amount, but also save valuable time lost in queues, which undoubtedly will also mean an economic gain. Restrict operations in “window” when making deposits of large sums of cash as the deposit slip will serve more in the case of any trouble.

4. Change old habits
Think what you will spend your money before doing so. Bring lunch to work instead of buying … borrow books at the library instead of buying new ones … make phone calls at times when rates are lower. The small but regular changes, such as those identified above will help you improve your cash flow and make great strides toward a more secure financial life.