A lack of knowledge could keep you from success

Cash Flow Management

by Doris Dobkins


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True financial planning involves learning how to handle your cash flow. It involves setting some personal goals and objectives and then making sure your money management methods will help you achieve them.

The lack of knowledge and discipline is what keeps people from properly managing their cash flow. Taking some time to learn and then implement simple money management tips is important.

I'm going to share with you right now one of the simplest and easiest ways to demonstrate control over your cash flow. This is a guaranteed way to make you feel in charge of your finances.

Each month, starting this week, have 10% of your money automatically withdrawn from your paycheck or checking account before you see it or have a chance to spend it. When it is automatically deducted, it becomes very easy for you to adjust your spending and forget about it. If you don't believe me, read on.

Think about the last raise you received. How quickly did you adjust to the increased income? If you're like most people, you were dependent on that extra income within days of receiving the raise. This is the same concept but in reverse.

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Many people will say they can't do this and don't have enough money. All I ask is that you try it. Without these monies showing up in the balance, you might just surprise yourself at how easily and quickly you adjust to this reversal of funds.

This is called "Paying Yourself First" and it works! If you want to get control of your cash flow and truly manage your money like the wealthy, then take this first step.


Doris Dobkins is a money saving expert, author and speaker and has helped thousands of people find ways to save money and get out of debt.

Take the Next Step:

  • If your employer offers direct deposit, ask them to deposit 90% to your checking account and 10% to a savings account.
  • Start a high yield savings account with Discover Bank.
  • Do you struggle to get ahead financially? Then you'll want to subscribe to our free weekly Surviving Tough Times newsletter aimed at helping you 'live better...for less'. Each issue features great ways to help you stretch your dollars and make the most of your resources. Subscribers get a copy of Are You Heading for Debt Trouble? A Simple Checklist And What You Can Do About It for FREE!

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