Maintaining A Steady Cash Flow

[Carpon]

In financing, there is a need for a steady and stable source of income. There will be no need for financing when there is no money that is used to run the finances.
Now, there are people who are able to make money but it is never steady. They may have money today and tomorrow that source of income is no more and that puts them in the state of uncertainty financially.

To ensure that your source of money remains in place, you must be able to apply some wisdom and knowledge while doing things.

First of all, make sure that among the list of jobs you do, there are one or two that have some high level of guarantee on them. Even if you can't get a job with that requirements, you can make an investment that is 100 percent sure.

Moreso, you must also have an emergency or should I say a back up savings account. As you are earning, be saving some. In cases when your money source cuts, you won't have an interrupted Cash Flow and failed finance because you have your savings in place.

 

[Shaf]

One of the main ways to maintain a steady cash flow is to have multiple sources of income, all diversified and not in the same niche. If one is lagging, the others will cover for it.

It's not easy since you only have so much time to work everyday, hence you can do this by looking for sources of income that are relatively passive. Most things like blogging, real estate, book publishing require a lot of work initially, but later, they can pay you with little stress while you work on other sources of income or you relax.

I also think it's important to budget right of you want adequate and constant stream of money for a while. This means you know how much will last till the next paycheck, you have funds that can be used for emergencies. If you have to use your money all on emergency because Yiu didn't anticipate it, it can cause an abrupt cessation of money.