Women leading women

Beat the cash flow rollercoaster

5 tips for hanging on to more of your hard earned income

Sometimes being in business can be like being on an emotional rollercoaster. There are big, soul-soaring ups, and then unexpected bumps and free-falls. But if you keep a good handle on your finances, you can smooth out the downs, and really enjoy the ups, knowing that your money cushion will keep you safe if anything unexpected happens.

Maybe you’ve experienced lots of cash coming in following a great deal or a new client. You think, wow, work is plentiful, and all of a sudden you start spending a little more on software, or investing more than you would in a new marketing strategy, or just generally increasing your spending to match (or supersede) your new income.

Maybe on the other hand, you know in the back of your mind that you’re not sure how you’d cope with a big influx in business, so you do everything you possibly can to control any growth, whilst simultaneously and consciously working super hard to bring money in.

If either of these strategies sound like you, don’t fret. You are not alone. There is nothing wrong with you, and there is nothing to beat yourself up over. Sometimes our identity, when it comes to money and cash flow, needs to be stretched a little.  There are some small actions you can take, right now, to do just that, and put your money on a firmer footing.

“Smooth out the money rollercoaster to a leisure cruise, and the business bumps and jumps will take care of themselves.”  ReTweet This.

Alleviate the financial rollercoaster: How to have more money at the end of each quarter

1. Define what you love, what lights you up and what you want to spend time doing. Spend your personal income on that. This way you feel more fulfilled and you will naturally make your money go further as you won’t be trying to plug emotional gaps by manifesting bumps in the road in your business. You’ll also spend less, because you’ll be happier.

2. Stop spending money on those things that aren’t aligned with your goals/ inner purpose. Ask yourself, am I spending money on this to fill an emotional void or to feel differently about myself. If yes, take that money and spend it on something in point 1.

3. Keep a cash buffer in your account – even if you are trying to pay off credit cards. Having the cash in the bank will help you make better decisions. You’ll also value yourself more at those critical moments when you’re deciding what you will do for money and what you won’t do. This is essential to being able to value yourself and attract what you are worth.

4. Put every bill you can on automated payment – personal and business. It works out cheaper, means you don’t have to think about it, freeing your mind up for important things, and also helps in defining what your expenses are on a monthly basis.

5. Save at least a small amount each month on standing order – preferably into a savings account you can’t access easily. You’ll have heard the expression “pay yourself first”. Make sure this standing order comes out soon after you are paid. It will then reduce in your mind the amount you have to spend that month and you will spend less.

These steps will completely transform your relationship with money, forever – but you have to do them! Thinking about it won’t change anything.

Two things to take action on right now:

Thing 1:

Make sure you’re doing all of the above five points.

Thing 2:

Go to www.wireyourselfforwealth.com to discover everything from why cutting back on your lattes won’t improve your finances, to how to increase the bottom line of your business by unleashing your money genius, and not working harder.

To your success!

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10 Comments
  1. Rosie Slosek says

    Really good post, Laura Leigh with excellent practical advice.

    Cash flow seems like a boring blah blah jargon word – until it clicks that it means having enough money to pay your bills, to eat each month, to pay your mortgage and clothe your children. And buy chocolate.

    I’d add my favourite look-after-yourself tip which is to have a little stockpile of something your really enjoy and gives you a boost. I have several bars of really good chocolate hidden away for this purpose and a batch of cherry brownies in the freezer.

    Thanks for posting 🙂

  2. Laura Leigh Clarke says

    Hi Rosie – thanks for being in touch. Glad you like the post and that it’s going into your favourites 😉

    Yes, I agree – its normally a dull subject – but when you have these things in place its feels much better to look at the cash flow, and you have more of it. 😉

    Enjoy your cherry brownies!

    Laura 🙂

  3. Oma Edoja says

    Great tips, Laura!

    Thanks for sharing. They are practical steps one can get started with right away.
    Great content on your web site too!

    Oma

    1. Laura Leigh Clarke says

      Thanks Oma!

      Keep us posted with how you get on…
      I *LOVE* to hear how the strategies have been embraced by go-getters on a mission!

      L x

  4. Penny Hinton says

    What a great post – loved these very practical ideas. So refreshing after those “it’s important to get to grips with cashflow” articles that appear so often. However hard I try, they never progress beyond the “must read” pile.

    The point about savings is very valid too – did this last year for the first time and am amazed how quickly it mounts up. Using a Standing Order means I don’t miss it – but I get the benefit!

    Thanks for sharing these great ideas

    Penny

  5. Laura Leigh Clarke says

    Thanks Penny! Glad it was useful. Great to hear you’ve been doing the standing order strategy and getting the benefit from it! 🙂

  6. Carole says

    Loved the aritcle Laura – we need more of these. Carole

  7. Laura Leigh Clarke says

    Thanks Carole.

    I’ll see what I can do. Let me know specifically what you like… Is it the new thinking on the subject of making money, or is the tips on hanging onto money, or is it the mindset/ emotions behind it that you like?

    If you let me know I can tailor future posts to what is popular.

    Feel free to poke around my blog and let me know what resonates with you…

    warm wishes
    Laura 🙂

    1. Carole says

      Hi Laura

      Thanks for the reply.

      I think all three elements are important and it probably starts with mindset and emotion. Generally, I don’t see enough prominence, in this country, being given to encouraging women to really get to grips with their financial power and making sure it works for them now and in the future.

      Carole

  8. Laura Leigh Clarke says

    Hi Carole –

    Yes I agree it does. I’m glad you said that 😉

    Thanks for feeding back. I’ll see about sharing more of those kind of posts!

    Great to connect with you on here!