Need practical methods into tackling this problem which is giving tremendous stress to anyone's in this kinda situations. Fast and efficient ways without compromising on monthly fixed expenses like loans and family expenses,etc. Thank you.
2006-06-27 08:25:10 · 5 answers · asked by ET 1 in Business & Finance ➔ Personal Finance
Get a job.
Got one already? Get a 2nd job and work weekends, evenings, etc.
2006-06-27 08:28:53 · answer #1 · answered by Ralfcoder 7 · 1⤊ 0⤋
Cash flow is just how much cash comes in and how much goes out, so if your cash flow is negative you need to increase your cash in and/or decrease your cash out.
If you have debt, particularly high interest debt, consolidating that at a lower interest rate might help.
You can decrease your spending by:
+ Not buying things you don't have to
+ Shopping for the best price on things you buy
+ Delaying purchases
+ Substituting cheaper/free alternatives (e.g. read library books instead of buying books, eating at home instead of at restaurants, broadcast TV instead of cable).
Track your cash flow at a fairly detailed level for a few months (I use Quicken) and then you will know where your money is going and can brainstorm on expenses to eliminate or reduce). I notice that the fact I am tracking my expenses encourages me and my family to think twice before we spend.
Good luck to you.
2006-06-27 08:37:01 · answer #2 · answered by frugernity 6 · 0⤊ 0⤋
It's not called compromising if you seriously look at your expenses and decide what can go. Other than increasing your income, you need to decrease your debts and increase your savings.
2006-06-27 12:06:46 · answer #3 · answered by folklore 7 · 0⤊ 0⤋
Just hire me.
Top 3 Answerer in Business & Finance. (Vote for me)
2006-06-27 11:38:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋
cut spending.
2006-06-27 08:31:08 · answer #5 · answered by Nick C 3 · 0⤊ 0⤋