Step 1 Increase Cash Flow

INCREASE CASH FLOW

The first step in developing your personal financial strategy is to look at your cash flow.

 Does your current income exceed your expenses?

 If not, you need to right the ship, or you’ll soon find the dreams off course.

Is your Money COMING OR GOING?

Monthly Cash Flow: your INCOME J

-First income (net take home)

-Second Income (net take home)

-Dividends, Interest and Capital Gains

-Annuities, Pensions and Social Security

-Other

-SUBTOTAL Income

Minus Monthly Expenses

-Fixed costs

-Mortgage/Rent

-Property Taxes

-Associations / Homeowner’

-Utilities

-Cable / Satellite

-Telephone

-Car Payment

-Insurance Premiums

>car, life, health

Loan’s Credit Card: Master Card, Visa and others

If your monthly expenses meet or exceed your monthly income, you could be seriously jeopardizing your financial well-being. You need to identify ways to earn additional income and manage expenses.

Manage Expenses and Increase Your Income

-Strive to spend less than you earn.

-Create a budget.

>weigh your monthly expenses as wants vs. needs.

-Take on a second career or part-time opportunity.