The amount of money that goes in and out of your bank account each month determines quite a bit about: 1. How you live 2. How you spend Here are some tips to help you increase your positive monthly cash flow!
This might seem like a “Duh” moment, but it is essential to positive cash flow. The month we paid off both cars and my student loan, we increased our cash flow by $900.
Just by reducing eating out, entertainment budgets, cutting out a gym membership and cable an individual can increase their positive monthly income by the hundreds.
A quick way to increase your cash flow is to refinance bad debt with interest rates. A student loan with an 8% interest rate or higher when refinanced can help increase your monthly cash flow.
So let’s say you track your spending, you paid off your debt, and you cut back on spending, but you still are having trouble creating a positive monthly income. Then you need to focus some energy towards making money.