5 Ways To Improve Your Personal Cash Flow

5 Ways To Improve Your Personal Cash Flow

Becoming more familiar with your income, spending, and saving habits can help you take the first steps to optimize your monthly cash flow. You may realize you’re living check to check or just want to be able to save a little more money for pending expenses and big purchases.

You can determine your cash flow by creating a budget containing all your monthly income versus all your monthly expenses. This will include the important bills you pay monthly and the petty bills you accrue from fuel, clothing, dining out, and other payments you can estimate.

From here, you can visually see the outcome of your money when you add all your income sources together and subtract all your expenses. What’s left is the amount of money you’ll want to improve for saving or spending purposes.

1. Decrease Your Expenses Where Possible

You’ll still need to pay fully for important bills like mortgage, rent, car notes, and childcare – unless you plan on refinancing, which could hurt your credit. Once you’re able to see where all your money goes, you may realize you’re spending money on unnecessary items. You can opt for coupons, look out for discounts when grocery shopping, and cut down on eating or ordering out.

2. Check Your Subscriptions

The average millennial pays for up to 17 media and entertainment subscriptions a month. By cutting this number in half, a person could save hundreds off monthly subscriptions. There are over 200 streaming services available worldwide, each with millions of subscribers. There are easier and cheaper ways to receive entertainment, and sometimes these avenues can be free.

3. Consolidate Plans

Many companies give you the option to bundle your services into one bill at a cheaper rate. This is common in cell phone and internet providers as well as insurance carriers. See if you can bundle your home, auto, and car insurance into one consolidated bill, or group your phone, internet, and cable bills.

4. Shop For Cheaper Rates

Speaking of bundling pans, you can simply opt for cheaper services. Shopping for another internet, phone, or insurance provider can show you that there are better options out there. You can also benefit from getting a cheaper internet or phone plan with fewer amenities that may serve to be too luxurious for the financial sacrifice right now.

5. Negotiate A Better Salary, Or Create Your Own

After you’ve perfected your monthly outflow, you can consider optimizing your income. Negotiate a raise with your employer to discuss avenues for promotions or better positions within the company. If that isn’t feasible, try looking for a job elsewhere that will pay you more for the work you do. Finally, when all else fails, remember that there are so many other ways to make money and increase income. Consider starting or buying a business, renting your car or home, or selling your services.


Don’t let money stress you out or leave you choosing between food or lights. Many strategies can help you decrease your expenses, increase your income, and help you manage your cash flow. Once you get a handle on your money, you can save for that new car, pay down your debts, increase your credit, and ultimately be financially better off.

If you need help with your numbers and looking for tax and accounting services in SC, contact VERIS CPA.

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