When I write about creating cashflow, everyone assumes that I mean you get a bunch of checks from your investments on the 1st day of the month. This is typically the case, but I think it’s a tad better to be more strategic with how you structure your cashflowz.
Because I know from experience how challenging a five week month can be, IF you live primarily on rental income like I do. You’re fat and happy in the beginning of the month when all of your monthly rent checks come in, but by the end of the month you’re eating Romen Noodles for dinner with your A/C shut off! LOL
When I first started investing in real estate, I followed all of the guru advice and forced my tenants to pay on the 1st of the month. This created a few headaches for me. This may also be creating a few headaches for you, too. The gurus mean well, but they don’t have everything figured out.
Well, this ole guy finally realized years ago that the traditional advice to collect everything on the 1st of the month isn’t necessarily the best advice. Sure, it’s easier for tracking but that’s about the only benefit.
Over the years, I’ve experimented with different approaches to optimizing my cashflowz and have come to the conclusion that the best approach is to structure your cashflowz around your lifestyle. (Yes, there’s that darn LIFESTYLE word again)!
I’ve actually detailed my exact approach in the August Cashflownaire Newsletter, which as you already know, will be released next week.
What I share may make your life a lot easier, if you own rental properties. It also may help ease some of the financial pressure you may feel at different points throughout each month. Once you think about what I share, you’ll have one of those…. “aha” moments.
As Cashflownaires, our overriding operating principle is peace of mind and happiness. This principle is more important than any other principle we live by, and this is because we only have one life and our time is short. We want to honor this limited time by structuring things to make our lives better.
I’ll show you how in the August Cashflownaire Newsletter.
If you’re just getting started with creating monthly cashflowz, you’ll definitely want to apply what I share in this newsletter. It will make your life a lot easier and will eliminate many future headaches for you!
Oh and I should probably specify that this approach to optimizing your monthly cashflowz works with every dinero you collect from your businesses and from your investments. I apply this strategy to everything I do and it has been immensely helpful.