For most people, reliable cashflow is central to their financial wellbeing. However, paying the bills, saving and still having the means to enjoy a fulfilled life isn’t as easy as it sounds for many people. It’s for this reason we created a 12-month guided program called the “Cashflow Coach”.
The Cashflow Coach provides financial education and money management techniques that aim to create effective money habits for life. The Cashflow Coach program is part of on our Complete Advice Framework.
How we help
In our first Cashflow Coaching meeting we work with you to understand your current cashflow position. To do this we will gather information about the amount of cash coming in, and your expenses going out. These will include all your bills, loan repayments (as well as the type of account you have) and any forecasted living expenditure. With a clear understanding of your income and expenditures, we’ll identify your current cash position. We will also work with you to identify and set financial goals including debt reduction and savings strategies.
To enable you to understand your spending habits, you will be required to record EVERY expense you make for a 4-week period.
With your current cashflow position identified and all your expenses recorded over a 4-week period, we will consolidate your position. From here we formulate your budget and indicate your weekly disposable income figure. Your weekly disposable income figure is the amount you will be expected to live on each week with consideration of the financial goals you have set.
As you Cashflow Coach we will ask you to provide us with your account balances for regular review. In addition to holding you accountable, we also to provide you with the help, support and ‘coaching’ to more successfully manage your money.
Three months in and it’s time for your ‘first service’ meeting. At this time, we will review your progress, discuss your successes as well as any issues you may be experiencing. We may make adjustments to your disposable income figure in alignment with your progress and changes in your budget or financial goals.
Your next review meetings will occur at 6 months and 9 months. As was the case at your 3-month meeting we will review your accounts, measure your progress against the goals you have set and make any adjustments to your disposable income figure.
At the completion of your 12-month guided Cashflow Coaching program, we will review your progress against the goals you set and what you’ve learned about effective cashflow management.