MMS022: Understanding The Importance Of Cash Flow

Before you can invest and become a millionaire or even before you can begin to tackle those debt problems you got yourself into, you first have to master the fundamentals of personal finance (channeling my old basketball coach tonight apparently) and that means learning how to manage your cash flow. Tech innovator Ram Palaniappan is in the Money Mastermind house this week to share with us some cashflow insights he has gained in the process of creating his new tech-friendly lending start up. Join us as we put an new spin on some old school ideas that have proven their worth over time.

Show Notes: http://moneymastermindshow.com/episode22/

Some important insights discussed in this episode:

Americans spend more on overdraft fees than fresh vegetables every year ($32 billion) - are you part of this statistic?

Payday loans are such a highly profitable business that there are more payday loan locations in the USA than Starbucks and McDonald's combined.

Why managing your cashflow might be the most important aspect of personal finance.

What's the difference between managing your cashflow and budgeting?

What tools are there out there that can help you manage your cashflow?

Cashflow isn't just about managing your "outflows" or "outputs", but analyzing your inputs as well.

Links To Help You Manage Your Cashflow

Rich Dad Poor Dad by Robert Kiyosaki

YNAB

MoneyDance

Make some money on the side with Uber, Air BnB, or Lyft

Panelists In This Episode:

Special Guest: Ram Palaniappan | Active Hours https://activehours.com/

Glen Craig | Free From Broke

Kyle Prevost | Young and Thrifty

Miranda Marquit | Planting Money Seeds

Peter Anderson | Bible Money Matters

Tom Drake | Canadian Finance Blog

For a quick bio of each of our show participants, head on over to our panelists page.

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