How to Never Worry About Cash Flow Again
Jul 23, 2024The flow of cash is simply the quantity and timing of cash flowing into and out of your bank account.
Succeeding as a business owner means you must have consistent, positive cash flow, and to do that, you must have tight financial controls in place.
Typical budgets don’t work for most people. If you’re one of them, it’s not your fault.
Truth is, what most people have been taught about how to manage their money is absolutely wrong. The budgeting process that your home economics teacher taught you in high school is a perfect example.
There are three critical aspects of managing your cash that must be part of how you regulate your flow of cash. They are:
Visibility:
It’s hard to fix a problem you can’t see. You must be able to see the flow of your money in and out of your life in a way that is meaningful. You must be able to see the past, present and future so you can make better decisions.
Download your free cash flow tools and implement the system, you’ll have visibility on a weekly timeline that will help you make decisions with complete confidence.
Timing:
The only difference between salad and garbage is timing. While budgets are helpful, they don’t help you get the timing just right.
For example, many people get charged gotcha fees by the bank not because they don’t make enough money, but because their timing was off a bit. You’ve probably had one of those frustrating experiences yourself, when the debit from your account happened just a few hours before your deposit was made.
Banks extend little to no grace on these because it is a significant profit center for them. Also, your financial data will be on your computer, not in the cloud for someone in a foreign country to hack and steal.
When you implement my cash flow system, you’ll get the timing right and avoid these frustrating and embarrassing experiences.
Bank Balance:
This is the most important financial number for you on a day-to-day basis. Since your budget doesn’t tie to your bank balance, it’s keeping you in fear and distrust about your money situation. Implement the Cash Flow Tracker™ and you’ll have total control.
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