Regardless of sources or means that you have this time, it is impossible if you haven't observed your cash flow? What have you observed to your cash flow, positive or not? Include all your income or investment online or offline. How nice if you could share it here so members in this community will be inspired to work harder online or off line.
Is your cash flow positive each month?
- Thread starter Starmix
- Start date
Mine is positive because I live with my parents so I don't need to pay any rent or for anything like that but we share bills and other expenses and if I talk about myself my cash flow is positive and I feel I am doing ok but yes I need to improve on it
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- #3
Your cash flow is amazing and your parents surely feel happy for you for you share them bills and other expenses. They are so proud of you.
We live in our own home and I have a full time work, thanks I can still have a positive cash flow every month after all the deductions from various loans lol. Made some minor home renovations that's why I applied for a loan and still paying it.
My cash is positive though I may have one or two hitches every month. Though, my cash flow doesn't solve my many financial obligations but by God's grace I will pull through.
Wow, if you are still living with your parents then you do not need to spend a lot of money. Your cash flow should always be positive.
My cash flow has been building up for a while now but the problem I have been having for a while is the rate at which I spend money. My cash burn rate has been so terrible because there is always a bill to pay. But now I want to change that and cut down on spending on wants and only concentrate on spending on needs. This is the only formula for achieving financial freedom. Very robust and ambitious plan and goals this year.
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- #13
@Carson20t, the bills are undeniable. Sometimes I do not lie to think of the bills, especially the electric bill. I pay almost 8,000 . It is a sickening reality because my county is so hot so we need aircon.
I just mentioned something in my previous comment. Some countries are indeed hard hit due to climate change but ask you if it is not medically approved as a threat then you can temporally sacrifice as it will be deemed a want and not a need. This is my resolution to practice a high level of financial discipline. A sacrifice has to be made to ensure that my first step every time I have income is that a portion of it goes towards investment and not expenditure.
Only with such principles are we able to evolve and see a gradual change and start working towards financial freedom. Not an easy road but we need to make up our minds and be intentional about it.
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- #15
If only have the same mindset as yours, there will be fewer sufferings of people having small and big businesses. They mostly like to show up by shopping here and there and making blowouts with friends which is nonsense. Then it might be too late to realize their business is going to go down.
I do have records i keep of monthly sales and going through them i see an obvious increment in my cash flow so yeah i will say making progress all thanks yo God.
Yes but I will share my ways in which I have been able to make my cash flow positive each month, you can follow these steps too :
- Track your expenses: Keep a record of all your income and expenses to have a clear understanding of where your money is going.
- Prioritize expenses: Identify and prioritize essential expenses, such as housing, food, transportation, etc. and cut down on discretionary expenses like entertainment, dining out, etc.
- Increase income: Look for ways to increase your income, such as taking on extra work or starting a side hustle.
- Create a budget: Create a budget that allows you to spend less than you earn, so you have a surplus at the end of each month.
- Reduce debt: Pay off high-interest debt as soon as possible, such as credit card debt, to reduce your monthly payments.
- Stay disciplined: Stick to your budget and avoid overspending, to ensure that you have a positive cash flow each month.
- Thread starter
- #19
That is so good you are always tracking your business. In my case, I do the inventory weekly and deposit the sales of my business to the bank every day.
