What Is Cash Flow and Why You Need It
Categories: Blog Posts
What is cash flow and why do you need it?
Well, let’s face it, when you have more money in your wallet, life’s a whole lot easier. Because you have MORE money in your wallet!
When you make passive income every month, you can:
- Take your dream big trip to the Bahamas, Italy, or anywhere else in the world.
- Buy the dream car you’ve always hoped to own.
- Move to a better, safer neighborhood.
- Or simply live more comfortably.
But before we go on, let’s answer the very common question, “What is cash flow? And how can I generate it?”
First of all, cash flow is exactly what it sounds like: cash flowing into your pocket. Just think about things like income, profits, and any other term you can think of that means adding money to your bank account every month.
There are many ways to produce cash flow, and there’s really no right or wrong way to produce it. Because everyone has a strategy that works best for them.
So, what are some of those strategies?
Well, you can:
- Invest in value-add properties, like fix and flips and rentals.
- Become a private lender to real estate investors.
- Improve your credit score to make extra money each month. Because better credit scores mean lower interest rates. And lower interest rates mean cheaper bills. And cheaper bills mean less money out, and more money in.
As you can see, there are countless ways to approach cash flow. You just need to choose the best approach for you.
Ready to chat? Great. Our team is here to set you on a path that helps you make the kind of money you need to live the life you want.