This video brings all of the components together into a working cash flow plan.
- A cash flow plan is the instrument you use…to direct money toward the things that are important to you.…It's how you make sure everything is covered…and that it all fits together.…Now, some people watching this may already…have a working budget and others may be completely new…to this process.…I'm going to cover the basic steps to cash flow planning,…but for more of a deep dive,…I would recommend the Managing Personal Cash Flow course.…It will help you determine exactly how money is coming in…and going out, and where you might be running into…common trouble spots, such as planning for variable income,…seasonal income shifts, or unforeseen expenses.…
Let's begin by opening up the exercise files…and selecting the Cash Flow Worksheet…that corresponds to the account system you will use.…There are version for one pot, two pots, and three pots.…Sit down together and fill this in.…Even if you're choosing the two pot method…where you plan to keep things largely separate,…this planning step still needs to be done together.…
In this course, financial therapist Amanda Clayman shows how to tackle the financial difficulties that often sour partnerships by walking through how to create and follow a family cash flow plan. Using her five pillars of financial harmony as a guide, Amanda explains how to construct a plan that engages all family members in its implementation. Looking at money management as a system designed to meet your specific needs, she highlights common financial conflicts and shows how to create a healthy, sustainable plan. She explains how to establish ground rules for communicating effectively, prioritize each partner's "asks," assign money management roles suited to each partner's strengths, and bring it all together into a working plan.
- Why couples fight about money
- Exploring values
- Communicating effectively
- Being clear and concrete
- Negotiating successfully
- Assigning roles suited to each partner's strength
- Setting up a routine
- Creating your family cash flow plan
- Dealing with dilemmas
- Making changes
- Engaging children in your family's cash flow management process