Opinion | The power of automation | Reece Marini

THE INS AND OUTS: Take time to work out a personal cash-flow system. It will give you the tools to start making smart money choices. It's in your hands.
THE INS AND OUTS: Take time to work out a personal cash-flow system. It will give you the tools to start making smart money choices. It's in your hands.

Why do I need an automated cash-flow system?

Cash flow and automation go hand in hand when it comes to managing your personal finances.

Understanding and knowing your money is the key component to building a personal cash-flow system.

This cash-flow system will make life easy. It will help you manage your fixed, variable and lifestyle spending and give you valuable insight into what’s left over.

By planning where your money is going, you can simplify your financial life and focus on what’s important to you.

Achieving your goals

When it comes to goals the most important thing is simply to have one (or many) – understanding what you want your future to look like is the most direct route to making that dream your reality.

At PKF we take a holistic view and work with you to define what we call your “future of choice”, a multi-faceted approach that considers all your goals, whether they be to buy your next investment property or perhaps to free up the time to learn a new language.

Whatever your goal may be, there are usually only two considerations:

  1.  How long will it take?
  2.  What is it going to cost?

Sorting your cash flow

To take control of your finances you need to take the time to understand the ins and outs of your cash flow. This can be tedious, but this knowledge will give you the tools you need to start making smart money choices that align with your ideal lifestyle.

If your current spending habits don’t align with what you see for your future, it’s time to get honest with yourself.

Re-think your spending and make cuts in those areas that don’t align with your desired lifestyle and start redirecting money to the areas that do.

Reece Marini is a PKF Wealth Financial Adviser