Cashflow Forecasting – planning income and expenditure

Historically, cashflow forecasting was a method used by business owners, managers and accountants to analyse income and expenditure over a set period ot ime. By analysing inflows and outflaows of cash for each period, e.g. each month, they were able to see what strains they would have on cash at any one time – e.g. was there any particular month or months where they needed to draw on other sources of cash. Download your own cashflow forecast template here

Needs and Wants – the Basics of Budgeting

In order to make decisions about what steps to take with the various aspects of your personal financial planning it is important to take a “snapshot” of where you are at at this moment in time.

A plan is just that – a plan – you decide on where it is you want to “arrive”, consider your current “position” , weigh up the various methods of getting there and choose the path which seems most appropriate to your current family situation, income profile, future employment prospects.