Take Charge Of Your Money podcast with Brendan Dale
Episode 5 - 14 February 2022
Sponsored by Naked - The new way to insure your stuff
In this episode I chat to Frugal Local about cash flow in ones personal and business finances. Frugal helps small businesses and startups grow and you can find him on Twitter @FrugalLocal and his website is localmoney.co.za
We start off by hearing about how he planned for over a year before quitting his full-time job. He also managed to save up 3 years worth of expenses to help in starting his own business and ensuring that his cash flow won't be negatively affected.
Cash flow, as Frugal says, is like blood in your veins. You need the life giving blood to flow smoothly through your veins to give you life. Debt is a little like cholesterol, it blocks the flow. Other things that could block the flow of cash could be high expenses, holding too much stock, and not having a buffer to see you through when your clients aren't paying on time.
Frugal tips to manage cash flow
The golden rule of personal finance : "Spend less than you earn"
Your bank account tells a story of where your money goes and of what is important to you. Listen as Frugal tells a personal story of what he and his wife found when looking through their bank statement.
Main topics discussed:
0:00 Podcast into and thanks to my sponsor
1:16 Who is Frugal Local?
2:12 Planning to leave his job
3:45 What is cash flow?
6:35 How do you manage your cash flow?
7:37 Pay yourself first
9:14 How does one start fixing cash flow issues
12:03 What's your money story?
My 8-step guide to paying off debt
How to pay off debt - my 8-step guide
Learn about personal finance
Over 20 curated articles to read in sequence to help you start your personal finance journey
Get an instant insurance quote from Naked
Get a weekly update from me