1062: The Importance of Tracking and Managing Cash Flow by ESI of ESI Money on How To Create A Budget

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🗓️ 5 February 2020

⏱️ 11 minutes

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Summary

ESI of ESI Money shares the importance of tracking and managing cash flow. Episode 1062: The Importance of Tracking and Managing Cash Flow by ESI of ESI Money on How To Create A Budget ESI Money is written by "ESI", a 50-something retiree. The site is basically a list of what's allowed him to become financially independent and how you can implement those successes in your life. His philosophy is simple and focuses on doing three simple things to achieve financial independence: earn, save, invest. There's a bit more to it than that, of course, but if you can concentrate on these three areas, they will get you at least 90% of the way there. The original post is located here: https://esimoney.com/the-importance-of-tracking-and-managing-cash-flow/ Please Rate & Review the Show! Visit Me Online at OLDPodcast.com and in The O.L.D. Facebook Group Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:00.0	Have you ever had an instant connection with someone? You see them and you just know.
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0:26.4	phone. Discover in store and online at Curries.
0:29.3	This is optimal Finance Daily episode 1062 the importance of tracking and managing cash flow by
0:37.2	ESI of ESI money.com
0:39.8	And I'm Dan. I am your host and this is where I read to you from some of the best blogs on personal finance every single day, including weekends and holidays.
0:47.5	And we actually have five different shows where we do that, and each of them covers a different topic, so you can search for optimal living daily wherever you're hearing this to find all five of our narration style podcasts.
0:59.0	But for now let's get right to our midweek edition of optimal finance daily as we continue optimizing your life.
1:07.0	The importance of
1:13.8	tracking and managing cash flow by ESI of eSI money.com
1:16.8	Now that we've covered the importance of measuring and tracking your net worth
1:20.6	let's move on to a financial measure that's almost as important.
1:24.7	It's important because it's a major driver of net worth and it's called cash flow.
1:29.6	So what is cash flow?
1:31.1	Well cash flow is simply income minus expenses. It's what you make or
1:35.4	earn less what you spend. Income less expenses. The difference between these
1:40.0	two is your cash flow. Consider this example. Monthly income $4,000. Monthly
1:45.7	expenses $3,500. Monthly cash flow, $500. You build your wealth or net worth by taking your cash flow and investing it.
	...

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