I want you to start practicing cashflow now before you even get an actual income.
Your cashflow is your actual report card in the post-school world. Having a negative cashflow doesn’t mean you failed. It means that you just have to adjust your flow of cash, either by increasing your income or reducing your expenses or both.
Your task is to develop a habit of tracking your “income” and your expenses on a daily basis. It takes days to develop a habit. According to studies, if you practice doing something for 60 days, it will become part of you. It will be hard on the first few days, but keep doing it. Eventually, you’ll get the hang of it and before you know it, it will become part of your routine.
Here’s what you’re going to do,
1. List your cash in today – example: allowance, any source of “income”
2. List all your expenses today – example: fare, food, project, load, no exception
3. At the end of the day, before you sleep, compute your cashflow:
Cashflow = Total “Income” – Total Expenses
* Do this again tomorrow, and the following days….
4. At the end of the week, compute your cashflow:
Cashflow for the week = Total “Income” for the week – Total expenses for the week
To your success,
P.S. Showing your cashflow to me is optional. Just remember that your goal is to get your cashflow POSITIVE & INCREASING!
MONDAY, Aug 5 @ 6:45pm
Topic: Building Your Future Orientation/ BYFO (for guests)
Zoom Meeting ID: 435-473-950
HOW to JOIN:
1) Go to https://zoom.us (for Laptops)
2) Click > Join Meeting
3) Enter Meeting ID
For any questions, message me on FB, https://www.facebook.com/franklinvios