Tips for Managing Your Cash Flow
- Spend less than you make.
- Have a realistic spending plan (your budget). Update and adjust it regularly.
- Pay yourself first. Deposit directly to your savings from your paycheck.
- Use credit wisely.
- Keep all debt payments less than 33% of your gross income.
- Don’t buy into the tax refund myth. Consult with your tax preparer to compare your withholding against last year’s taxes to make sure that you are not overpaying your taxes during the year.
- Have a plan for pay increases. Use a portion of your pay increases to increase your retirement savings deduction and regular savings deposit.