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How to Create a Cash Flow Plan

Setting achievable goals gives you something to work towards and measure your progress. Assessing your cash flow helps you understand how much money is coming in and make necessary adjustments to ensure that your money works for you.

The right habits can help you create a cash flow plan that works. Here are some strategies that could help you achieve that:

Set High But Realistic Goals

So, what are some high but realistic goals you can set for yourself?

First, aim to save 10% of your income. This may seem like a lot, but it's a very achievable goal. And, once you reach it, you can always increase your savings rate.

Secondly, make a plan to pay off all of your debt within five years. This may require some sacrifices, but it's worth it to be debt-free.

Finally, commit to investing 20% of your income. This may seem like a lot at first, but remember, you can always start small and increase your investment amount as your income grows.

Pay Yourself before Anything Else

Before you pay any of your bills or expenses, make sure you put some money aside for yourself. This can be used for savings, investments, or even just to cover your costs. By paying yourself first, you'll ensure that you're always able to meet your own needs first and foremost.

Review Your Current Cash Flow

It's important to review your current cash flow situation regularly. This will help you identify potential problems and make necessary changes to your plan.

Be honest with yourself about your income and expenses. Include all sources of income, such as your salary, investment income, and any other sources of money. For expenses, include your fixed expenses (such as your mortgage or car payment) and your variable expenses (such as groceries or gas).

Create a Budget and Stick to It

This is one of the most important things you can do to get your finances in order. Determine what you need and want in life and ensure your spending aligns with your goals. Once you know the numbers you're working with, it's time to create a budget. A budget is a plan for how you will spend your money. When creating a budget, include both your fixed and variable expenses. When you know where your money is going, you can start setting a budget. This will help you ensure your spending doesn't exceed your income.

Get Professional Advice

When it comes to financial planning, seeking professional advice is always a good idea. A financial planner can help you develop a cash flow plan tailored to your specific needs and goals. They can also offer guidance on how to best save for retirement and other long-term goals.


The right habits will allow you to create a cash flow plan that will work for you and your family. This plan will help you save money and make better financial decisions. It is crucial to find a system that works for you and stick to it. You will need to be disciplined and patient, but the rewards will be worth it. Once you have a nice plan in place, you can track your progress and make adjustments as needed. Make sure to work with a reliable financial consultant who can guide you, too.

Swell Financial Planning offers the services of a reputable financial adviser in Queensland. Whether you need help in creating a cash flow plan or a retirement strategy, we can help you. Get in touch with our experts to set up your appointment!


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