Cashflow 101

I have received some feedback from people that would rather have a template in place that they can use to work through adding their own expenses without going into as much details of adding the formulas.  If this sounds like you, you can download an excel template in the resources

In this section I will ask you to have downloaded or collected your last 3 months of bank and credit card statements ready for the next sections. 

You will also start creating your cash flow template ready for you to start entering your income and expenses

This section takes you through entering your regular payments and income using your bank statements and credit card statements.  If at first you are not sure there is a video at the end of the section that shows everything discussed throughout this module

In this module you will see why I ask you to have 3 months worth of statements.  You will also start to see where you can start making savings each month by looking at your "non regular" spending

In this module you will add the formulas to your cash flow so that excel automatically starts calculating everything for you.

You will have add up all of your monthly expenses and income in this section using the Excel autosum

In this section I take you through step by step the formulas to enter to work out what you will have left in your bank at the end of each month going forward based on your forecast.  This is quite an involved section so please pause the video as you go through each step

In this section we will enter the formulas to work out what the balance on your credit card will be at the end of each month.

I also talk about an easy way to pay off debt if you have debt from different sources (credit cards, loans etc)

You now have a fully functioning personal cash flow that you can use each month to track your expenses.  In this section I have included some top tips to give you some ideas on where you can start saving money using your cash flow now.

In this section we are going to cover ways of making immediate savings on your food budget and how to track the savings you are making

Utilities have to be one of the most complicated bills to work out to see if you are getting a good deal or not and the standing charges can really catch people out (the gas/electric price per unit might look like a good deal but then you are being charged a high standing daily charge which wipes out the savings you might make with the lower unit cost. I have done a price comparison using 3 examples to show you how you can do a comparison when shopping for utlities