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Cashflow (Banking)

“If your outflows exceed your inflows, your upkeep will be your downfall.”

Cash flow is the fundamental prerequisite for everything you do; without cash flow, nothing can be accomplished.  Your cash flow can be defined as the increase (your income) and decrease (your total spending) of cash over a period of time, such as a month.  As the quote above points out, if you have more going out than coming in, you will eventually be left with nothing.

Proper cash flow management can be achieved using tools such as personal budgets, family cash flow statements and appropriate financial instruments including: bank accounts, mortgages, lines of credit and RSP loans.

By utilizing the appropriate instrument(s), you can increase the efficiency of your cash flow and create the foundation from which you can build your financial dreams.  These include:

Even daily money deserves to earn interest.  Although it might not seem like much, if your daily monies can generate a return for you, you can benefit from those earnings over time.

A mortgage is a loan that is secured against real property. A home buyer can obtain financing (a loan) from a financial institution, such as a bank or credit union, to purchase property or secure against the property either directly from the institution or indirectly through intermediaries, such as financial advisors or mortgage brokers. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably.

Types

  • Home Equity Line of Credit (HELOC)
  • Standard (requires at least a 20% down payment)
  • High-ratio

Depending on the variables of a mortgage, it can facilitate a well-organized cash flow strategy.

For more information, contact us today.

A Line of Credit, or LOC, is a loan that can be secured against property (such as a car) or unsecured (just your promise to pay it back).  LOC’s can be helpful when faced with an unexpected expense such as a vehicle or home repair. They are a key component of an efficient cash flow strategy.