4 Easy Ways to Boost Your Cash Flow
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If the idea of boosting your cash flow feels impossible or restrictive in any way, I’m here to show you today that no matter where you’re starting from, there are always ways in which you can build upon your wealth and what money you have coming in.
We delve deeper into this topic in my new online group coaching program IMPACT, which if you act fast, there is still time to sign up for
here.
Today though, I want to offer you four easy and creative ways to boost your cash flow. The key is to shift your perspective and train the muscle of building an abundance mindset.
Regardless of your income or financial situation, you always have options. Today’s post will provide you with some ideas you can implement in your life starting right away!
1) Reduce Automatic Credit Card Billing
How many times have you entered your credit card details for a monthly or yearly subscription to a product or service? Perhaps you’ve even lost count?
This is the kind of thing we do on autopilot and often forget what we’ve signed up for! Yet, those automatic payments keep on renewing, the money goes out of the door, and for a service we don’t even use. Often for amounts such as $14.99 a month and it can go on for years without us being aware!
Your action step here is to go through every subscription payment that’s being taken out of your account. These include gym or fitness memberships, online courses, streaming services, other online services, and so on.
Take some time to go through all of these subscriptions and charges and put a stop to the ones you no longer use or that aren’t aligned with your current goals.
Imagine if you only stop two services at $14.99 a month - that’s saving you almost $30 a month! You can use this ‘New Found Money’ to fund another one of your financial intentions that works towards building the life you want to create.
2) Use Public Transportation
Even if giving up your car completely isn’t an option, it doesn’t mean that you have to use it every time you want to travel somewhere. An easy way to save money on fuel is to take more advantage of public transport for those shorter distances.
Or, you can choose to walk instead! You’re not only ticking the box of saving money but also getting in some extra exercise too.
Considering the rising cost of fuel and general car expenses, utilizing public transport can save you a substantial sum of money. All that is required here is a bit of extra planning. Plus, it can be a great way to see other parts of your neighborhood, listen to music, an audiobook, or a podcast you enjoy, and take some time out for yourself to relax!
Depending on your situation, you might also even consider letting go of your car in favor of public transport. This is a shift we’re seeing more, particularly for those who live in cities or towns and work from home. The benefits of saving money on fuel, tax, insurance, and car maintenance costs outweigh having access to the car, so see what option works best for you.
3) Assess Your Weekly Expenses
Your next challenge is to find ways to
reduce your weekly expenses. We live in a world that bombards us with constant deals and offers and we also often swipe our credit or debit card without really thinking about what we’re choosing to buy and how it serves us.
When you take time to go through your account and look at exactly what you have going out every week, you will likely see that there are costs you can eliminate, reduce or find better alternatives for.
These expenses include food and drink, travel, dry cleaning, home maintenance costs, and so on. It can also include utilities, health insurance, and health-related expenses.
Think about where you could start to make easy tweaks and changes such as keeping track of your spending habits when you’re out. As an experiment, try writing down everything you’re spending money on and the amount. Then consider whether this is something that you truly need or desire, if it could be eliminated, or if there is a more cost-effective alternative.
Even simple actions can make a big difference such as grocery shopping with a list, eating at home or pre-preparing your lunch, being mindful of turning off the lights when you leave a room at home, and looking for better utility service deals.
You’ll perhaps find that you can save yourself a substantial amount per week even by making small changes that won’t drastically impact your quality of life.
Plus, when you get into this exercise and think of it like an
abundance-seeking game, it becomes fun!
4) Give Yourself Weekly Pocket Money and Always Pay Cash
Sometimes it just takes simplifying things and going back to basics!
I have another challenge you can set yourself. After going through your weekly expenses and what you spend on a day-to-day basis, set yourself an amount and at the beginning of the week, take out cash. Think of this as your ‘pocket money’ and use that to fund your spending for the week.
Once that money is gone, it’s gone.
There’s something remarkably different about handing over cash instead of swiping a card. It taps into our emotions on a deeper level and creates a heightened awareness of what we’re spending our money on.
So give it a try! This method can also help you assess if the weekly amount you set yourself is truly realistic and where you can easily make savings.
These tips I’ve given you today are purposely ones you can implement or begin planning right away. This is what building that life you want to create is all about; taking action steps that align with your big dreams and goals and towards your life of Real Wealth!
Within my upcoming group coaching program IMPACT, we will explore these and many more ways to boost your cash flow. Plus I can help you tailor them to your personal situation and goals. So if you’re ready to make real, tangible changes in your financial life, personal life, and career, we begin on Tuesday, April 18th.
You can sign up
here.
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