How to analyze your cash flow? Firstly, create an excel cash flow spreadsheet to record down all cash inflow & outflow into the custom made cash flow sheet for your own use. It’s free and simple!
Secondly, be patient and records the daily expenses continuously and consistently. Few months down the road, the recorded incomes and expenses data will help us to analyze our monthly cash flow status and spending habits. Believe me, I did that before and it works. That is how I control and monitor my money flow.
Recommended items to be included in the spreadsheet:
1. Housing / Living Expenses
- Home Loan Installment / Rental
- Water, Electricity & Phone
- Meal / Eating Out
- Groceries
- Maintenance / Household / Furniture
- Medical / Nutrition
- Clothing / Hair / Facial
- Children / Dependents Maintenance
- Maid / Assistant
- Quit Rent / Assessment
- Property Insurance
- Loan Repayment
- Others
2. Transportation
- Car Loan Installment
- Petrol
- Toll & Parking
- Maintenance
- Road Tax & Insurance
- Others
3. Entertainment & Recreation
- Entertainment / Social Function
- Vacation / Travel
- Wedding / Gifts
- Sport / Recreation
- Club Fee & Expenses
- Others
4. Miscellaneous
- Income Tax
- Books & Periodical
- Donation / Contribution
- Seminar / Continuous Education
- Others
5. Insurance
- Life, Critical Illness, Accident, Medical
- Others
6. Children Education Funding
- Education Insurance
- Unit Trust
- Bond
- Others
7. Financial Independence
- Endowment Insurance
- EPF / Retirement Fund
- Bank Savings
- Unit Trust
- Equity
- Property
- Others
My Point of View: I prefer to create the cash flow statement format using Microsoft Excel at my own, instead of looking for free download cash flow template or spreadsheet online which is always not fully applicable to everyone’s different needs and wants. Besides, we learn more through the process by studying deeper into every aspect for better cash flow management.
{ 1 comment… read it below or add one }
Liked your article.
A good and easy read.
I especially like the last paragraph.
” instead of looking for free download cash flow template or spreadsheet online which is always not fully applicable to everyone’s different needs and wants”
You couldn’t put it in a better way.
Take care