Personal Cash Flow Forecast – have you got one?
As a business owner I know that cash (money in the bank and future money coming into the bank) is king.
Without it, we simply are out of business.
We can’t pay our team, our marketing costs, or software cost, rent etc.
Knowing at all times how much cash we have and how much is coming in is so important.
Why then don’t individuals or families have a cash flow forecast?
If you are an employee who works with a company that has an employee share scheme, you are even more reason to get a cash flow forecast as your income can be tied to the shares you receive (these are not free money, they get taxed!).
Having a cash flow forecast enables you to take a look at where you are spending and how much you can afford to save/invest or spend (on some really cool stuff).
It doesn’t take long and could be the most valuable planning tool for you.
I’m interested, if you don’t have a cash flow forecast, why not?
Have you never thought it was important?
Let me know, be interested in your thoughts
