At BlueSphere, we believe that cashflow planning is an essential part of wealth management. It involves forecasting and managing the inflow and outflow of cash in an individual’s financial situation to help them optimise their financial resources and achieve their long-term financial objectives.
To assist our clients with cashflow planning, we follow a structured process that includes:
- Conducting a financial review: The first step in cashflow planning is to get a clear understanding of the client’s current financial situation. This may involve reviewing their income, expenses, assets, liabilities, and financial goals.
- Developing a cashflow forecast: Based on the information gathered in the financial review, we help the client to create a cashflow forecast that outlines the expected inflows and outflows of cash over a given period of time.
- Identifying areas for improvement: Once the cashflow forecast is complete, we help the client to identify areas where they can improve their cashflow. This may involve cutting costs, increasing income, or finding ways to reduce debt.
- Developing a financial plan: Based on the cashflow forecast and areas for improvement, we work with the client to develop a financial plan that outlines the steps they need to take to achieve their financial goals. This may involve setting budget targets, creating a debt repayment plan, or identifying investment opportunities.
- Monitoring and reviewing: We also help the client to monitor and review their financial situation to ensure that their cashflow remains on track. This may involve reviewing the cashflow forecast and making adjustments as needed, or identifying and addressing any financial risks or opportunities that may arise.
At BlueSphere, we understand that every client is unique and has different financial goals and circumstances. That’s why we take a personalised approach to cashflow planning, tailoring our advice and guidance to the specific needs of each client. Our goal is to help our clients optimise their cashflow and achieve their financial objectives.
Each month we’ll aim to bring a bit of humanity and common sense back into the world of finance.