The Money Edit is for women who are passionate about personal finance and financial independence.

This is a place to change your mind about spending, saving and living your best life.

What is cash flow?

What is cash flow?

Cash flow is the most important component of personal finance. Without it, we are no where. With it, we can be in control.

So far, so good

So far, we've figured out our net worths, our debt worths and assessed just how much interest we're paying to look as good as we do!

Now, we're going to make a solid plan to aggressively pay off the debt and start building wealth by managing our cash flow.

Cash flow is defined by what money comes in every month, and what money goes out. My personal philosophy is to drastically limit my monthly commitments. I only have 6 bills per month:

  • Mortgage payments

  • Strata Payment

  • Internet

  • Utilities (BC Hydro and Fortis)

  • Netflix (a post-debt addition)

Tally up the amount of money you make a month. Now tally up your bill amounts. Are there any services you can cancel? Are there any subscriptions you can stop?

The key to positive cash flow is to stop any unnecessary out flow. Aggressively paying off debt when you are spending money on things you don't need (and I mean need!) doesn't work. You have the chance to make those hard choices now, in the short term, so that you will be stable and successful in the long term. Everyone who is looking out for their own best interest will have to sacrifice to succeed.

Opportunity is missed by most people because it's dressed in overalls and looks like hard work

- Thomas Edison

Often getting to a positive net worth takes so much hard work and focus that people lose sight of their bigger goals. Once we hit that debt free mark, the work of wealth building begins. Right on my bathroom mirror, it says:

I will become financially independent by 2025 and have complete control of my time.

I am always keeping my eyes on the bigger picture. How can you keep more cash every month? What's your biggest motivator?

5 fast ways to stop spending money

5 fast ways to stop spending money

What is your debt worth?

What is your debt worth?