Creating Cash Flow on One Income

As a Single Parent & Youth Advisor, working with single parent families in the Ottawa Carleton region, it doesn't surprise me to see money spent on unnecessary items that does not bring you revenue.

It doesn't surprise me because our school system does very little to educate us in the financial world.

Spending at least 30 minutes per week on financial goal setting is going to require a committment on your part. If you want to lose weight you will commit to x amount of time daily to exercise and learn new eating habits that will assist you on your weight loss journey. The same applies to your finances, your relationships, your health, your spirituality and your career.

In the upcoming workshops with the help of financial planners and coaches, we will help you find cashflow and help you redefine your financial goals so that one day in the near future you will be able to pursue some of your dreams.

In the meantime I invite you to log your expenses for the next 30 days.. and yes including each coffee you get through Tim Horton's...they will give you a receipt.

In an excel spreadsheet you can easily create an expense folder that will list all your expenses i.e.,
groceries, cable tv, cel phone, entertainment, take out food, gas and hydro bills, rent/mortgage, fitness memberships, long distance plans etc...If you don't have such a program on your computer, it is easily done in an expandable file folder that you can pick up at any dollar store. Each time you spend money, throw it in there.

When you have completed this, go through them all and categorize them in a sheet of paper called Wants and Needs.

Do you really need Cable TV? I am amazed at how many say "yes"...Our family is working out just fine without cable tv... It has been almost 6 years now. With access to the internet who needs cable tv? How much is that nowadays? I will assume around $50.00/mth minimum.

Now could you place that $50.00 towards a debt you want to pay off....such as a credit card payment? If you don't have credit card payments, could you put it in an education fund for your children or an emergency cash flow account?

You get the idea...surely you can find 200.00/mth easily to put towards a debt, or invest in a business opportunity that will bring you even more cashflow and use that cashflow to reinvest or if you haven't done so already create an emergency cash flow fund.

Join us at our upcoming workshops at the Tanglewood Community Centre and learn how you can earn more money.... To register email me at bygachievers@gmail.com Seats are limited so register early.

To your success,

Miranda Mercuri