Positive Cash flow is when you have more money coming in than goes out each month. Simple to understand but for many of us, this just isn’t happening right now.
If you are experiencing a negative cash flow situation, you need to take action now. Here are some steps you could take to improve your situation.
Step 1 – Identify your cash flow.
Add up any and all income that you are receiving.Add up all your current living expenses.
If the math is positive, you are one of the lucky ones. If the math is negative or you want to improve your cash flow, continue to Step 2.
Step 2 – Determine which expenses you can change.
Simple examples would be to cut out cable tv and just keep the internet. Using Streaming services? Pick your favorites and cut the rest.Take advantage of the 6-month mortgage deferral option. Cut out any subscriptions to news sites or other unnecessary costs…