How to control your cash flow

Control your cash flow πŸ€‘

It’s not about how much money you make, but it’s about how much you’re spending each month. It’s crucial to know where your money is going.
Get to know your monthly income and expenses. Learn to budget.

If you want to save money for financial freedom or to create a emergency fund, you have to know what your monthly expenses are (I’ll cover this topic in different post)

Here’s a simple strategy I’m using to control my money flow.
You can easily modify it to your taste, but keep in mind that Long term savings and Financial Freedom are 2 key points of the flow.

Cash Flow

Necessities

These are expenses like rent, car payment, insurance, etc. The expenses you can’t avoid. (Well, maybe health insurance πŸ˜‚)

Long term savings

This will be your retirement savings. There’s an extra flow connected to this flow and that’s the Emergency savings.
DON’T TOUCH IT WHEN IT’S NOT NEEDED!

Financial Freedom

You need capital when you want to invest, right? Here’s the solution to build that sucker.

Things you can invest in

  • Forex (Foreign Exchange)
  • Stocks
  • Real Estate
  • E-commerce

Education

Education is also very important, because you are your biggest investment. When you invest in yourself by buying courses, attending seminars and buying books, you are growing as a person.
It’s crucial to invest in yourself. Don’t stop learning, be greedy for information.

Recommended books

Fun

This is your fun budget. Blow this baby up! I don’t care πŸ€‘

Giving

The secret to living is giving ❀️
This is your way of offering help to those who need it.
Helping a friend in need, donating to charity or any other ways of helping other people financially, gives a certain feeling of fulfillment that can’t be achieved in other ways.

Author: Mitchel Pawirodinomo

Software Engineer | Pentester | FX Trader

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