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Maybe youre constantly wondering where it all went or feeling like youre always one step away from being broke.
The thing is, it might not be about how much youre earning but rather how youre managing it.
Ive seen this happen countless times in my work with clients.
Someones making good money but somehow feels broke all the time.
Here are somecommon cash flow mistakes that could be silently draining your bank account.
Heres what he recommends works best: Keep about 2-3 months of expenses in a checking account.
He personally keeps around $15,000.
Thats enough to handle regular bills without constantly watching your balance.
But heres the secret most people miss you need a separate account for irregular expenses too.
Those random car repairs or surprise medical bills wont feel so devastating when youve got a dedicated fund.
I made this mistake myself early in my career.
Had great investments but kept overdrafting my checking account embarrassing, I know.
So many of my clients think theyre doing fine because they pay off their cards each month.
But theyre actually living on next months paycheck without realizing it.
Then, they end up pulling money back when unexpected expenses hit, feeling defeated.
Ive learned its better to start smaller and gradually increase savings as you get comfortable with your cash flow.
Because, lets face it, life happens.
Lokenauth said its not about how much money you have its about how you structure your cash flow.
Hes witnessed people making $50,000 manage their money better than some making $200,000.
The key is finding the right balance between having enough liquid cash and putting your money to work.
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