Ever find yourself wondering where all your money went at the end of each pay? It’s time to take control and tell your money where to go instead of wondering where it went! Effective cash management is all about understanding and applying a few fundamental principles to ensure financial stability and growth.

Here are five tips for cash management that work

1. Spend Less Than You Earn: This golden rule is the cornerstone of financial health. By consistently spending less than your income, you can avoid debt and build savings.
2. Budgeting: Create a detailed budget to track your income and expenses. This helps you identify areas where you can cut back and allocate funds more effectively.
3. Emergency Fund: Set aside a portion of your income each month to build an emergency fund. This safety net can cover unexpected expenses and prevent financial stress.
4. Debt Management: Prioritise paying off high-interest debts to reduce financial burden and free up more of your income for savings and investments.
5. Savings and Investments: Regularly contribute to savings accounts and consider investment options to grow your wealth over time.

By implementing these cash management strategies, you can take charge of your finances and achieve your financial goals. Start today and watch your financial confidence soar!

Below is a helpful tutorial on how to audit your expenses and how to make tweaks to your spending/savings habits. You will also find a helpful cash management worksheet in our ‘Useful Documents’ section, along with a helpful guide on how to audit your spending.

This information is of a general nature and is not intended as personalised financial advice. RIVAL Wealth is a Financial Advice Provider (FAP) licenced by the Financial Markets Authority to provide financial advice. Our disclosure document is located at rivalwealth.co.nz or a written copy is available on request