Cash flow. It's the heart of any business. And your family finances. We need cash to survive. Pay the bills. The employees. The mortage, groceries and so much more. How do you manage cash flow in up - or down - economies?
As I write this on March 18, 2020, coronavirus headlines of economic hardship realities are all around us. People are hurting, businesses are closing, bailouts are rumored, bankruptcies are happening. How will you respond?
Fear is gripping people. Families are being impacted and I'm sure yours is one of them. "How will we survive," you may be asking?!
Therefore, in an effort to be proactive and help, I'd like to share a practical resource. This will help your family and business plan and forecast through these challenging times.
I have a Cash Flow Forecaster I've developed and used for years. You can use it for both your home and business budgets.
I've shared this with friends, clients and family. It helps give you a clear view into what's happening with your finances. You can easily adjust the numbers, inputs and more to determine where you need to make decisions - cuts or increases.
Most importantly, it's a multi-tabbed approach to plan for the unexpected. I created using the BAM goals acronym. 3 tabs - Baseline, Amazing, Miracle budget/cash-flow scenarios. I'm going to adapt to these times to BAMY. Adding Y - YIKES! (Worse scenarios, to plan accordingly.)
How can you best prepare in times of crisis?
Managing your inventory, assets and incoming cash projections for your family and business. Don't hunker down - lean in, plan and be proactive. This is a clear way to be more proactive about your finances.
I want you and your family to thrive. Times may be tough and there could be a new normal for awhile as a country. How you respond - and plan for that - is critical to your success. I'm here to help.
DOWNLOAD the Cash Flow Forecaster HERE.
Any questions or need help navigating this or other coaching/consulting in this season of life you can reach me at [email protected] or HERE.
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