Rich or poor, young or old. It doesn’t matter whether you are a sophisticated investor or starting your first job. It doesn’t matter whether your cash comes from salary or wages, business income, share dividends, rent or even social security payments. What matters is how much of your cash you keep – and how you handle it.

Australia’s current net household savings ratio is now negative 2.3%. Back in the 1960s and 1970s it was generally above 10%. How could this be so? How could a country enjoying unprecedented prosperity get itself so deeply into debt?

Because it’s not making money that’s out problem. Australians are some of the hardest working people in the world – but we’re not so good at managing the money we make. We have a cashflow problem.

The best tool for finding extra money is a budget to manage your cash flow needs. Look at the things you need – the essentials, such as housing and food – and those you simply like to have, or want. When you need to trim the budget, cut back on the ‘wants’ first – things that aren’t essential for everyday life.

To manage your cashflow, Portfolio Managers can assist you in establishing your 12-month personal budget and demonstration on how to make the most of the budgeting process.

Once the budget has been established, it needs to be regularly reviewed and compared to actual expenditure to ensure that it continues to meet your requirements. At Portfolio Managers we are committed to providing ongoing care to our clients and offer two alternative levels of ongoing service.

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