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  • Linh Le

How to manage your cash flow?

When it comes to managing your money, you don't have to manage everything. You can take a few simple steps along the way to make sure you're in check, and living within your means.


how-to-manage-your-cash-flow
How to manage your cash flow?

1. Track your spending Every time you spend money, whether it's at a restaurant or on e-commerce, write down the amount of money you spent. Once you track that information, you'll feel better about yourself because you know that this is not an easy task, but one that is crucial for any serious budgeter.

2. Cut down on unnecessary expenses


how-to-manage-your-cash-flow
How to manage your cash flow?

When it comes to purchasing items for yourself or for your family, try to stick with what's on sale instead of buying new things every month or two. If something is too good to be true, there's a good chance that some company has faked the numbers and will sell item falsely cheap. A crucial point is that these companies know they are deceiving their consumers by presenting false prices; they use an excuse like "we are giving away the item" when in fact they're just throwing a little something into the store without charging anything extra for it. Now go back and review what was bought compared to what was saved. You want to buy things as cheaply as possible so that when you come home and open up your wallet full of cash, there will be some left over for replacing items from other stores if necessary (this will often be unavoidable if money is tight).

3. Make a budget and stick to it

If you've never done this before, I suggest taking the time to become familiar with all of the different kinds of budgets available online so that when making different kinds of budgets for yourself (or for your family) you'd always be able to find information about them right on their website (I've found this site very helpful). In order to track all this information properly though, use something like Mint where each account has a separate bank account number so that all financial transactions can be tracked easily and accurately;


I personally use Mint because I'm an Apple user but believe me Mint works just as well on any platform (it even works with Google Wallet). The more control you have over your finances while taking care of them at the same time without having them fall apart due some unforeseen situation while tracking things like expenses etc., the happier and more contented in life you will become!


make-a-budget-and-stick-to-it
Make a budget and stick to it


4. The first step to managing your cash flow is to track your spending If you’re having trouble tracking your spending, there are several options available: * Track your receipts in order to see where your money is going. * Use a software program that makes it easy to create and track receipts, such as Mint or Evernote.

* Make a habit of keeping a running cash account on your phone and using this account when shopping at the grocery store so that you can compare purchases with receipts. (You may find that gas station and convenience store cash registers are not accepting credit card transactions—make sure if you use these types of stores.) You can also use paper or an online checkbook register for this purpose. When you pay bills with cash, it’s easier to lose track of how much money is left over than it is with a bank account or credit card statement. The best way to keep track of savings and spending is to keep an eye on the total amount of money in all accounts at all times. You can do this by writing every purchase down on paper and keeping an eye on the total balance as well as the amount deducted for any changes in spending habits (card fees, interest rates, etc.).

If you don’t want to be bothered with tracking all of your finances by hand, you can use a budgeting software like Mint or Evernote. Keep in mind that not all budgeting software will work equally well in different situations—some programs will allow for automatic transfers from one budget category (such as bank accounts) into another category (such as groceries); some programs will allow for automatic transfers between categories; some programs have other features specific to particular financial goals (like one program may not let you make transfers between categories related to any number of things such as spending habits).


For example, I use Evernote because I find it very easy to create budgets, but I no longer use Mint after finding out it doesn’t allow me to transfer funds into my PayPal wallet without editing my preferences manually. The only budgeting software I currently recommend is Evernote because it allows me to import payments from PayPal into my Evernote account without having any special preferences set up on my computer—I just click Tools > Import Payment Data > Choose Payment Method > Select PayPal > Enter Amount and then click Continue… This feature works great if someone else uses PayPal too! You should always remember what's important when setting up budgets

5. Make a budget and stick to it Budgeting is a good way to be responsible with your money. You can take advantage of that responsibility by tracking your spending and making sure you are sticking to the budget you set. This will help you stay on track, as well as keep yourself from having to spend too much on unnecessary stuff.

6. Consider downsizing your home or moving to a less expensive area Life is about the journey. It’s about learning new things, growing and changing. It’s about connecting with people and learning how to empathize with them. It’s about life experiences, missteps, and mistakes. It’s about getting out of your comfort zone — from the comfort of your own mind — and making a life for yourself outside of your normal environment.

Sometimes, you just need to make a change. For example, if you are staying in one place longer than you want to, perhaps because it’s cheaper than the alternative or more convenient, it might be time to consider downsizing or moving to a less expensive area. It might not be something that you need to do right away in order to save money on rent or utilities; however, as soon as you can afford it, it is still worth considering if it will help you improve your quality of life by easing stress and helping you feel more productive (i.e., happier).

The key is not actually going through with the move right away (or not taking any money out of your savings account), but rather thinking about what your home environment will look like when you decide to take advantage of this move or if you have already decided on moving at some point down the road (perhaps even before reading this article). If a move doesn't work out for whatever reason that's okay too. You can always come back at some point in the future if things don't work out as planned.

7. Get rid of credit card debt as soon as possible by paying off the balance each month Credit card debt is a terrible thing. It’s like the “canary in the coal mine” that warns us about the impending disaster of our consumer debt. It’s a terrible thing because it forces us to make decisions that we don’t want to make, or are too afraid to make. And it makes it impossible for us to pay off our credit card debt as quickly as possible, which means we can be stuck for a long time if we let ourselves become so indebted.

Let’s look at what happens when we get behind on credit card payments. We go into a panic, and try to find ways to keep paying the bills and borrow more money (which is just more debt) without actually paying them off. We get angry and frustrated, but when we do finally pay off all of our credit card bills, what happens? We end up without money.

We have spent all of our life savings on things that have never paid off, like student loans, car loans or mortgages (mortgage debt has actually been around longer than credit cards). There are costs involved with all of these things that we need to pay back, like transportation costs and interest charges. We may even owe more for these expenses than what we originally borrowed for them!

When you get behind on your credit card payments, you lose control over your finances — or rather you don’t have any control over them because you were never meant to have any kind of financial freedom at all!

8. Avoid taking out loans for large purchases like cars, houses, etc., which you may not be able to afford in the future

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