Financial Women know the importance of monitoring personal cash flow to create wealth. Yesterday while talking with a client about monitoring her monthly personal cash flow, she shared that the snag in her system was that she and her husband shared financial tasks. He pays the bills while she manages other financial tasks.
A bottleneck is often created when more than one person is involved in any project. Here are some suggestions for a smooth system to get those important monthly cash flow calculations done. Some of the tips apply to only couples, while others will be helpful for everyone.
- Set a specific date and time on the calendar, such as the first Saturday of the month at 3pm, to calculate cash flow
- Plan to have any spreadsheets or information needed to complete the task before the designated meeting time
- If time is tight, use email to send information to each other for review ahead of the meeting
- Clearly designate who is responsible for providing what information
- Reward yourself with a fun activity after you have completed your monthly cash flow to brainstorm ways to make it better
Positive change is good; keep it fun! Remember, it only takes a little time each month to produce this important information that will show whether you moved toward or away from your financial goals the prior month. By scheduling time early in the month to calculate your cash flow, you can make immediate changes to impact the new month in a positive way. Creating sustainable monthly cash flow is such an important part of growing your money.