4 Cash Flow Basics You Should Be Reviewing Constantly

Your car needs to be maintained. So does your home. Your Cash Flow Plan is no different and it requires ongoing maintenance. Here are 4 cash flow basics to review constantly:

1.) Is my debt number decreasing each month? When we log into our bank account we can see our total debt number. We like watching it shrink each month. Shrink is what we want it to do. If it isn't shrinking we need to find out why quickly, so that we can identify and fix the problem.

2.) Am I over-spending due to my increased confidence in my financial situation? Our expertise is in "finding you more money". Once that money is found, and in many cases, it will be a significant amount of money, the danger is to fall back into a trap of overspending. 

3.) Am I using debt strategically? When you pay high-interest charges on credit cards and car loans someone else is using a "debt strategy" on you. They borrow the money at a low-interest rate and then lend it to you at an exorbitant rate. You can beat the bank at their own game by using their money at low rates to build your wealth. See our blog on Using the Banks-Money to Build Your Wealth.

4.) Can I handle electronic spending? It's a known fact that plastic makes it easier to overspend. That is one of the reasons our cash flow planning starts with a cash-only spending plan for the first 60 days. Having a pocketful of cash to make purchases for the week helps us see how fast it is going, how much is left and makes you ask yourself the need for that purchase before you make it.

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My wife and I realized a long time ago the value of a financial planner over just a bank representative. We just felt like a number to the banks as every year it seemed we saw a different adviser with a different view. But finding a trusted, knowledgeable and personable financial planner took a lot of time and effort. It just seemed, so many large corporate Financial Planners were more concerned about what they could make off of us rather than what they could make for us.
What we wanted, was not just reasonable returns now, but good personal advice in our preparation for retirement and what happens when retirement actually arrives. We wanted someone who would be walking with us, guiding us on our way to retirement.
From the first time, we found the web site for Langford Financial Inc, we could see the knowledge of Willis and Nancy and a real effort to educate and pass on their knowledge through seminars, workshops and their personal service. Once I reached out through their web site for more information, Willis was quick to respond, offering and giving whatever information I was looking for and never was there pressure to commit to anything.
The feeling of comfort and ease when talking with Willis was inviting enough for us to want to meet with Willis and Nancy, just to see firsthand if there was a connection and what working with them would look like.
And when we did meet for the first time, that feeling of comfort and ease was very evident. It was a unique experience for us to be able to sit down and get to know a financial planner (or a team of both Willis and Nancy) and not have any sales pressure on us. Just getting to know Willis and Nancy was important for us. We needed to be comfortable with them and see their competence in the business, and it was obvious that Willis and Nancy wanted to know us better so they could know how best to help us.
Once we decided to move our accounts over to Langford Financial, we found their process was comforting and refreshing as Willis and Nancy first worked at evaluating our complete situation. They dug down to get a complete picture of where we were at, where we wanted to be and how to get there. This took some reflection on our part but once we saw how they put it all together in our “Financial House In Order” binder, we were confident we made the right decision to go with Langford Financial.
Since the time we started working with Willis and Nancy I have attended many of their seminars and can say the information they have been teaching has been amazing. Always relevant, and consistent with their desire to help those coming up to retirement, and covering so many different situations as everyone has a different life situation. I know more than one of the tax-saving strategies they taught at their seminars will work for my wife and I, so we are very happy about that.
We would definitely recommend Langford Financial, not just for all your retirement planning needs, but they have great ideas on savings for your grandchildren too!
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Paul & Elaine Radder
Long-term Clients

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