Cash Flow Management

Cash flow management is the process of tracking and planning your income and expenses over a period of time, usually a month. It is important and needed because it can help you better manage and measure your finances, save money for your goals, avoid debt, and achieve financial independence.

Plan For Your Goals Service Areas

  • Alignment of spending with values and goals
  • Alignment of savings rate with values and goals
  • Allocating and bucketing cash by goal
  • Analysis of changing jobs
  • Analysis of ways to provide financial support for adult children or aging parents
  • Car buy vs lease analysis
  • Divorce cash flow and tax analysis
  • Emergency fund planning and monitoring
  • Expense analysis to find forgotten/unneeded expenses
  • Home buying vs. renting analysis
  • Optimize returns on cash holdings
  • Analysis of employer provided fringe benefits
  • Planning for a sabbatical
  • Planning for an international move
  • Review personal credit cards and rewards
  • Vacation/investment home planning

Why Do I Need a Cash Flow Management Plan?

By creating a budget and understanding your cash flow, you can make smarter money decisions and adjust your spending and saving habits accordingly. You can also prepare for unexpected expenses or income changes by having an emergency fund or a backup plan. Personal cash flow management is not only for businesses, but also for individuals who want to take control of their finances and future.

How Will Plan For Your Goals Help Me Manage My Personal Cash Flow?

By providing you with advice, guidance, and accountability to help you stay on track with your personal cash flow management plan. David will walk you through these important steps:

  • Creating a personal spending plan that accounts for your fixed and variable expenses, as well as your savings and investment goals. This plan is called a budget.
  • Mapping out your cash flow for each pay period and allocating money accordingly.
  • Identifying your spending methods and finding ways to reduce unnecessary or impulsive purchases.
  • Automating your savings, investments, and bill payments to ensure you don’t miss any deadlines or opportunities.
  • Reviewing your budget regularly and adjusting it as needed based on your income, expenses, and goals.
  • Helping you with tax planning, debt management, and investment strategies to optimize your cash flow and build wealth.

How Do I Create a Budget?

To create a budget, you need to list your income and expenses for a certain period of time, usually a month. You can use a worksheet, template, spreadsheet, or app to help you organize and track your budget. You also need to subtract your expenses from your income to see if you have a surplus or a deficit. If you have a surplus, you can use it to save or invest. If you have a deficit, you need to reduce your expenses or increase your income.

One popular budgeting method is the 50/30/20 rule, which suggests that you spend 50% of your income on needs, 30% on wants, and 20% on savings and debt repayment. This is just a guideline, and you can adjust it according to your personal situation and goals. The most important thing is to make a budget that works for you and stick to it.

What Are Some Examples of Needs and Wants?

Needs are things that people require to survive, such as food, water, clothing, and shelter. Wants are things that a person would like to have but are not necessary for survival, such as toys, expensive shoes, or the latest electronics. Needs and wants can vary depending on a person’s lifestyle, culture, and personal preferences. For example, some people may consider heating as a need in a cold climate, while others may not.

When creating a budget, it is important to distinguish between your needs and wants and prioritize your spending accordingly. You should allocate enough money for your needs first, and then use the remaining money for your wants or savings. This can help you to avoid overspending and debt and achieve your financial goals.

Simple Path to Improve Your Financial Condition

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Step 1:

Select a Consultation Service

My services are designed to be flexible and meet your needs. Whether you're looking for a basic evaluation, help with a key area of your finances, or comprehensive financial planning, you'll find it here.

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Step 2:

Understand Your Real Financial Condition

Working together we will determine your financial needs. We’ll assess what is effective or problematic, and what is hindering your progress. With a clear understanding of your financial condition, you can make smarter choices.

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Step 3:

Plan a Better Future

Getting the knowledge and guidance you need from a financial professional is an investment in your security and hope for the future. And it’s not just for you, but for the people who depend on you.

David Roberts - Financial Planner and Advisor of Plan For Your Goals

David Roberts, Owner: Plan For Your Goals

You Deserve a Better Future

Affordable financial advice with flexible options that fit into your tight schedule can be difficult to find. That's why so many people struggle to make smart money decisions. At Plan For Your Goals my clients get the financial planning, coaching, and resources they need to make better decisions and plan a better future.