No matter how much money we have, or what stage of life we are at, we all have to make decisions about cash every day. Some of these are small, like your morning cup of coffee, while others are much bigger like a new car. Are your cashflow decisions helping you achieve your financial goals?
Let’s compare "cashflow" to the strategy you used to get where you are in your career. There was most likely some study involved, a lot of motivation and dedication to make it happen. Initially there was a goal or a target you wanted to achieve, and you had to train, practice and get in the habit of working towards this goal. I’m sure there were many excuses you could have used, however, with a bit of perseverance, you kept working towards your goals, and you got there in the end right? The same skills apply to managing your cashflow.
The first step is to admit to your spending habits, which category do you fall into?
1. Living month to month – waiting with anticipation to be paid.
2. Focus on looking rich – using cashflow to gain expensive assets that depreciate in value and do not create extra income.
3. Using positive cashflow to gain assets that creates more income.
Click here to read our 5 hot tips to help you break these habits.
We see poor cash management all the time, and have the specialised expertise to create a strategy that's right for your situation, so you can achieve the financial goals you've pictured.
So how is your financial plan? Call or Rod Dickinson.