What is My Current Cash Flow?
Businesses generate a "sources and uses of cash" statement to evaluate their income and expenses and to check profitability. Similarly, a cash flow statement can help you evaluate your personal income and expenses and see if you are operating "in the red" or "in the black" each month.
What formula can you use to determine your current cash flow? Our team at Infinity Financial Group LLC is here to help find a personalized formula that works for you.
Just a few things for you to consider:
- Itemize your monthly income including wages, interest, benefits, dividends, etc.
- Itemize your monthly expenses including donations, mortgage or rent, loans, charge accounts, food, utilities, etc.
- Work with a financial planner who will assist you in being as thorough as possible in these calculations to concretely illustrate and then evaluate your cash flow reality. From this point, we will help you devise an informed financial plan for your present and future.
Let’s work together today to put this plan into action.