Cash flow, both at work and home, is always on the mind. Kids make this even more a reality. Money goes out with the greatest of ease and sometimes without even really realizing it. It is great to say I’m going to help cash flow by making more money but easier said than done. You probably don’t control when you get a raise or whether customers walk through the door. Rents are supposed to come in on the first but they may not. Those dividends may or may not pay out next quarter. What will stay constant is money will be spent and you have control over it.
You are probably thinking the money certainly goes out but I have no control over it. If that is the case then take control. Take a look at where the money is really going and prioritize. If there are things that can be purchased down road wait for the cash flow to be correct before making those purchases. Whether it is the new TV at home or new computer at work, if what you have is working, wait until the time is right.
There is no replacement for having cash on hand. It may allow you to take advantage of a great investment that falls in your lap or an opportunity that requires your business to grow. The cash may save you from having to liquidate an asset when money is tight or take on expensive debt. Plug up that drain and keep the cash from flowing out!