Debt Management - Financial Planning, Expense Planning

Home | Debt Consolidation | Debt Management | Credit Counseling | Consolidation Questions | Contact Us
What Is Cash Flow?
Cash Flow, Financial Planning
Financial Planning | Budgetary Steps | Budgeting Advantages | Budgeting Benefits | Potential Pitfalls
Money Saving Tips | What Is Cash Flow? | Budgeting Temptations | Flexible Expenses | Plan For Savings
Some Spending Guidelines | Developing a Spending Plan

What Is Cash Flow?


  • Your cash flow is simply the money going into your pocket and out again. It is matching up your income with your expenses. Sounds simple doesn't it? It really is, but very few people take the time to keep track of what actually comes in and goes out each month.

    For the most accurate look at your budget, expenses and income for an entire year should be done. That's really a lot of work! But, just to get you started learning what records you will need, this worksheet provides space for two months. When you see how important it is to keep these records, you may want to contact the Extension office and purchase a Home Account Book for continuous record keeping. The first thing you will need to do is take the time to collect all of your bills, receipts and check ledger which will help you monitor your spending for the month. (It could be last month's, this months, or both.) Include both fixed and flexible expenses. Do you know the difference?

    FIXED - expenses are items such as rent, mortgage, car payment and other regular installment payments that basically stay the same each month and for which you are committed for a period of time.

    FLEXIBLE - expenses are the expenses that change from month to month such as food, clothing, utilities. You have a bit more control over some of these items.

    If you have recently become self-supporting, or are starting a household for the first time, it may be difficult finding complete records. Do the best you can for now and start keeping track of as many expenses as you can. The more accurate and complete the worksheet, the easier and more effective your financial planning will be.

    The Bottom Line

    If your income exceeds expenses, you will have money to put into a savings plan to use towards achieving your financial goals. However, if income does not cover all expenses, see what you might do to increase your income or decrease your expenses. Take a look at your budget to see if you can find some spending leaks. We'll be discussing this problem in an upcoming lesson. The most critical time to try and control fixed expenses is before you commit to the obligation. Are there other options you need to consider? Is there a way for you to reduce some of your flexible expenses?



  • Debt Consolidation | Debt Management | Credit Counseling | Consolidation Questions
    Fully Certified Consultants
    Free Consolidation Quote
    First Name
    Last Name
    Home Phone
    Work Phone
    Home State
    Email
    Unsecured debt
    Monthly Income
    Are you current or past due?

    Budget Planning

    Creating a Budget & Tips for Consumers
    Credit Issues & Things to Know About Credit Cards

    Collections

    Credit and Your Consumer Rights
    Fair Debt Collections Practice Act

    Bankruptcy

    Bankruptcy Laws, Chapter 7, 11, 13

    Terms To Know

    Important Definitions

    Credit Reports & Credit Score

    Find Out What Your Credit Score Is
    Free Credit Reports
    How to Dispute Credit Report Errors

    Debt Resources, Debt News & Articles to Learn From

    News, Articles, Learning From Others Debt Experiences

    Additional Debt Resources


    { Positive Cash Flow & Creating a Budget }

    United-Debt-Consolidation.com