Money is a tool that enables you to reach your goals in life, but until you know where your money goes, you can’t make conscious decisions about how to use this tool effectively.

One of the top reasons, if not THE top reason, so many people fail at budgeting is attitude. If you think of it as a penny-pinching sacrifice instead of a means for achieving your financial goals and dreams, how long are you likely to stick with it? It’s like the difference between going on a diet and eating healthily. One is negative and restrictive; the other is positive and allows you to indulge now and then and still achieve your goals.

To increase your chances of success, work on your attitude first.

The underlying philosophy of good cash management can be expressed as, “What you do with your income is just as important as how much income you receive.” Cash management planning includes budgeting, cash flow, debt and credit management, and identifying cash that should be repositioned.

We at CWA can help you with a thorough analysis of your cash management needs:
Determine the sources and uses of income (cash flow)
Establish goals or spending limits by categories (budgeting)

Recognize the costs of credit and the differences between consumer debt and investment debt

(debt and credit management)
Make sure that your cash and near cash assets are earning the highest return (repositioning)