New research into Australia’s economy has found that from January 1 to 31 March of this year, debt increased for 18 to 29-year olds more than any other age group in Australia. As debt increases, cash flow becomes a problem.
This places unfair stress on young people and makes it harder for them to make ends meet. However, a sound financial strategy can go a long way towards minimising debt and in turn, increasing cash flow.
Before we delve into how cash flow can be improved, let’s take a moment to define what the term actually means. Cash flow is the net amount of money transferred in and out of a person or business’s account.
Cash flow is liquid, which means it is not tied up in assets, like property, so it is easy to access. If you don’t have positive cash flow, you probably find it hard to pay bills, or save and manage unexpected expenses.
You may also struggle to plan and pay for holidays, save for a deposit or manage your personal budget. This probably leaves you feeling frustrated and out of control, when it comes to your finances. If this is you, you are not alone.
Luckily, there are people in the world who specialise in helping others transform their finances, and in turn feel more confident about their future.
These wizards are called ‘financial advisers’ or ‘financial planners’. Of course, they’re not really magic, they just use proven strategies to help people improve their cash flow and manage their finances more effectively.
More specifically, a financial planner identifies gaps in the way a person currently approaches their finances, and then recommends how they can be effectively bridged. They also identify opportunities people may be unable to see.
A good financial planner is like a coach, who works with you to get you where you want to be, with a tested step by step process. They also help you with:
Most big changes in life are the result of smart planning, so it makes sense to do the same with your finances. A good financial planner will take you through a series of steps, in order to achieve the goals you’re aiming for.
At Capita, our approach is tailored to the individual we’re working with, so the plan below is really more of a framework, which is customised to your unique goals and circumstances.
1. Creating a structure based on you
2. Measuring and Feedback
3. Wealth accumulation and goal setting
With the guidance and support of a Capita financial planner, you can transform your finances and feel more confident about your future. These 3 steps offer a proven framework, which builds your wealth and helps you to achieve your goals.
If you’d like to set your financial plan in motion, please get in touch. We will tailor a cash solution that works for your unique circumstances, without overcomplicating things.
Get started now.