Tuesday, November 15, 2016

Cash-flow management

  • cash and equivalents:  checking and saving accounts
  • until you find a job that makes you happy, you shouldn't buy anything, because it is the down-payment money that you have in your savings account that would give you the freedom to make the move in pursuit of a job that you love
  • power doesn't come from relying on someone else to handle your money; it is created when you, and only you, take the initiative to learn about your money and to make sure that you have what you need
  • you need to have both saving and checking accounts
Cash-flow management 
  • a folder for ATM slips 
  • another folder for bills 
  • open and scan your bills and bank statements right when they arrive
  • Debits--all the money you take out of your account, e.g, every check you write 
  • Credits--all the money you deposit into your account
  • check extra fees you should not pay (fees or debits shown on your bank statements) -- ATM fees (for withdraw money), bounced-check fees (you write a check you can't cover, overdraft) 
  • verify all deposits and ATM withdraws
  • http://www.suzeorman.com/   a worksheet for tracking your cash

Suze Orman
Women and Money: Owning the Power to Control Your Destiny

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