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Your mortgage, home ownership, debts, income, investments, property, children and future plans are not separate topics …
at CleveDoesMore we consider them to be crucially interconnected parts of your overall financial life.
Solve The Riddle &
Boost Your Cash Flow!
Many people mistakenly think that boosting cashflow always requires them to earn more money. While this is one way to get to the goal, it is not the only way. In many cases, boosting your cash flow is more of a mental exercise than a physical activity. What I mean by this, is that choices made with the money we have can often be just as beneficial as bringing in more cash when it comes to our financial health each month. With that being said, I wanted to play a fun game, and give you exercise for your mind with a short riddle.
Think you know the answer? The answer lies at the very end. In the meantime, let’s get back to our initial discussion because boosting your cash flow is much like solving this riddle. How, you may ask?
Some people will look at their finances much like you looked at this riddle. The details of what they have to work with will be clear, but the solution may still seem confusing. However, once the answer is revealed, most people will smile and immediately wonder why they didn’t see that to begin with. Cashflow is exactly this way.
As a matter of fact, this is precisely why the CleveDoesMore “$500 Fix” it program was created! It helps to solve the cashflow riddle by locating at least $500 of your own money that you don’t even know exists!
Read on to learn easy ways to
boost your cash flow and ask us about your $500 Fix!
Another way to think of cash flow, is like playing the game of chess. Each move you make results in either a positive or negative for your team! Those who are best at strategy and often win the game of chess have the ability to look forward far enough to see how each move will affect their overall position. Let me give you a real-life example…
Meet Henrietta
One of my clients, Henrietta, felt like she was stuck in the area of cash flow. She had a job that she loved, but it was a salaried position that didn’t ever offer overtime or provide any extra earning potential, creating a relatively fixed income situation. She didn’t see any way to increase the leftover cash at the end of each month, despite her best efforts. However, after taking a look at her overall financial picture, CleveDoesMore was able to highlight a few strategic moves that would allow her to change her financial position slightly, creating more free cash each and every month. Henrietta’s riddle was solved!
While every person’s finances are quite unique, here are some ideas of ways that you might be able to boost your own household cash flow:
- Shop around for insurance: Insurance rates changes constantly, and even a relatively small discount on life, auto, and home insurance each month can add up. While it is usually more economical to bundle insurance with the same carrier, there are instances when it makes more sense to split coverages up too. Take a little time to obtain some quotes and you may be pleasantly surprised at how a new policy will boost your cashflow!
- Refinance long term debt: Interest rates are another thing that changes regularly, and many people are paying hundreds or even thousands of dollars in interest each month that they could reduce or eliminate with a refinance of their mortgage, auto loan, or other longer term debts. Refinance options are numerous and it doesn’t take all that much effort to see if a refinance could benefit your cash flow situation.
- Review investments: If you have a savings account or investment account that provides monthly cash flow, be sure and review it from time to time to see what adjustments can be made so that it earns more interest or produces more for you. Dividend payouts, interest rates on CD’s, and stock or bond market potential is a moving target, so periodic changes can often boost cash flow!
- Consolidate high interest debt: Many people have a lot of debt floating around that carries with it high interest rates, making it hard to ever get rid of when only making the minimum payment. A smart financial move may be to consolidate this debt into a lower rate option, so that it can be paid off faster.
- Bundle or share services and subscriptions: Whether you are talking about internet and phone service or online subscriptions, a strategic move to boost cash flow may be to bundle these into discounted plans or share with others. For example, many cell phone companies offer family plans that reduce individual line costs, so if you and another family member or close friend bundle together, it could save you both each month.
I hope that this list of ideas has been helpful to you as a first step toward solving your own cash flow riddle. For more ideas like this and a completely personalized financial plan, consider partnering with CleveDoesMore. We specialize in creating a winning strategy to get you to your goal of better cash flow. One of the most valuable things you could ever do is to connect with us and to get started with your $500 Fix. If we can’t find you an extra $500 of your own money during the review process, the entire review will be our free gift to you.
Solve the riddle... Start your $500 Fix!
Now, that we have provided some answers to the riddle of boosting cash flow, let’s see how you did on the brain teaser question at the beginning of our newsletter.
If your answer was a bank, then you have successfully solved the riddle!
© Copyright 2018 Cleve DeSouza, Matrix Mortgage Global, Brokerage Lic# 11108