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Introduction to Cash Flow Coaching
Cash flow coaching supports you in implementing the right behaviours to consistently save enough money.
Cash flow management is not about creating a restrictive budget that makes you feel like you have no life. Quite the opposite. It is actually about creating an automated system for ensuring you do always have money available for those most significant experiences that make you feel like you do have the life you love to live.
Do you need it?
Cash flow coaching may be the right place for you to start when:
You can’t repay your credit card balance in full every month and have a carry-over balance that accrues interest. (You probably have more than one credit card too.)
Irregular bills such as electricity, gas, car registration & home insurance can “blow” your budget that month. You end up putting them on your credit card.
To clear your growing credit card balance(s) you routinely get a supplementary loan against the equity in your home. (And the cycle repeats)
You have no savings. Every time you save some money it quickly disappears.
“If the cash is in my wallet/purse/account I spend it” is something you’d say.
You are in stage 1 or 2 of the Six Stages of Wealth Creation
The above are indicators that you are still in the first stage of the Six Stages of Wealth Creation. You need to nail your cash flow management before you can realistically consider investing and creating wealth.
Target outcomes
The benefits of good cash flow control include:
- Never blow your budget.
- Never pay credit card interest.
- Never miss any loan repayments and on track to repay all personal lifestyle debts.
- Survive even if you did lose your job.
- Fully saved up for important short and medium term lifestyle goals when needed.
Importantly, I want you to stop stressing about money!
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"I earned $70,000 less this financial year than last year and I am not worse off. On top of that it doesn't feel like a sacrifice.
Plus I found excess funds to buy an investment property.
12 months ago I wouldn't have believed that was possible.
I still have my fun. In fact I have a better quality of life."
Dustin Zinetti, October 2010
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What’s included
Cash flow coaching incorporates both advice and support. It’s a bit like personal training for your financial health.
Through the coaching we will:
- Introduce you to the core principles for managing your cash flow and getting ahead
- Guide you in adapting the core principles to your personality
- Provide you with external accountability and support as you evolve to the new you
Read my article on Better Budgeting for an insight into one of the core principles for managing your money.
The initial program is six sessions of up to one hour duration each, conducted over the phone. If your money is shared with your life partner then you both need to be involved.
You have up to six months to complete all six sessions. The first few sessions may be fortnightly but then we often move to monthly.
How much it costs
Each six session phone coaching package is an investment of just $990.
That’s a drop in the ocean compared to how far ahead you will get when you stop paying credit card interest, repay your personal debts faster and consistently save and invest your money.
If your situation is so desperate that you're not sure where to even find that amount of money then I can offer you a payment plan of three equal monthly instalments (by direct debit). Note this option costs an extra 5%.
Are you ready?
Mastering your cash flow is a lot like mastering your physical health and fitness. It’s likely you already have some good ideas what to do; you’re just not consistently doing them.
Just like getting fit, I will guide you but you’ll have to do the work!
If you’re ready then I’m ready. Call me to book your first session.
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Matt Hern trades as FINDRE
(Empowered Wealth Pty Ltd t/as)
ABN: 21 592 525 720
Phone: 08 9467 7320, Fax: 08 9463 7848
PO Box 259, Bull Creek, Perth, Western Australia 6149, Australia
Website: www.MattHern.com.au
Blog: www.Money-Guide.com.au
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