Cash Flow Series
How do you manage your cash flow?
What Is Cash Flow?
Your income after removing your expenses during a specific time period is referred to as cash flow.
This term is helpful for both individuals and businesses as it can clearly indicate what direction finances are heading. Most people will measure their personal cash flow on a monthly basis. They will look at how much they have made and how much they have spent. While this is a great way to manage your finances, some people may forget to budget yearly expenses, such as insurance or holiday spending. When those costs eventually come up, they may not have the funds available, making their finances cash flow negative. Getting your personal cash flow under control is a money management skill you will want to master. During the accumulation phase, cash flow management makes sure that your expenses are fewer than your inflows, leaving you with extra money to save and invest.
How to determine your cash flow
Anyone can determine their cash flow by creating a budget. All you need to do is write down your monthly income, including sources of passive income (Passive income is money generated from investments, rental properties, online services, and other ideas and gigs. Passive income streams don't require much work to maintain), and then subtract all your expenses. Instead of focusing on a single month, you may want to track your expenses for three months. You will have a much more accurate picture of where your money is going and how it contributes to your net worth.
Did you know that you can find out how to effectively control your cash flow through our capacity-building sessions? visit www.herconomy.com today to check out the next session, you can also catch up on previous sessions on our Youtube page.
DUO Rent to Own: Move From Tenant to Landlord in Just 3 Years!
Mixta Africa, the foremost real estate development company in Africa, understands the significant dent in the robustness of financial fortunes around the nation and its restraining impact on the home-owning potential of would-be customers. As problem solvers, they constantly innovate to create beneficial solutions that help solve the continent's housing deficit. We are proud to present DUO, a rent-to-own scheme which makes it easy for intending homeowners to acquire a property.
The initiative offers flexible and accessible opportunities to live in the upscale, beautiful, and serene neighbourhood of your dreams on a lease while working towards the option of outright purchase and complete ownership at the end of a fixed period. The property is leased to you for a maximum three (3) year period at an annual rent which is about 5% of the total cost of the home.
Clients partnering in the scheme would have the right (but not the obligation) to convert to full ownership by paying the full price of the property or exit the rent-to-own scheme through a mortgage. After the full payment, the property title documents are handed over to you. However, in the event of a mortgage exit, the documents revert to the lender until the mortgage has been paid in full.
Find out more on duo.mixtafrica.com
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