Two Ways to Instantly Increase Cash Flow
- By Chad Sunyich
- Published 09/3/2008
- Finance
- Unrated
Chad Sunyich
The author Chad Sunyich writes about paying down debts with POWER PAYMENTS. This principle works whether you are paying one extra payment per year or following a comprehensive cash flow management program. One of the first places to start managing your cash flow is in the creation of a family budget that helps identifying how much money you have and where it is going. Find more informat
View all articles by Chad SunyichIncluded are two guaranteed ways to instantly increase your
cash flow. Utilizing just one of the
methods below will increase your monthly cash flow by a minimum of $250 and
well over $500 per month if using both techniques. These methods are safe and effective;
however, there are a few simple rules that you must follow to ensure your
success.
The first wealth
creation technique gives you more money on your very next paycheck by simply
increasing the number of exemptions that you are claiming with your
employer. So for example, if you are
currently claiming you, your wife and one child, you would raise your exemptions
from three to seven. If you are single
and only claiming yourself, then you would increase your claimed exemptions to
five. This will vastly increase your net
take home pay by reducing the amount of taxes deducted from your pay check each
month. To find out exactly how much you can increase your net take-home pay,
visit www.fincalc.com and select the ‘calculators’ button at the top of the
page.
After increasing your exemptions, the next step is to make
sure that you are offsetting any added tax liability on the extra money you are
receiving in the form of business deductions.
For example, if you increased your e
As a word of caution, you will need to keep a detailed
ledger to make sure that expenses are keeping up with the amount of extra money
you are receiving. If your monthly
business expenses are not equal to or greater than the extra money you are
receiving, then you should lower your exemptions immediately.
The second cash creating technique involves selling your
plasma as a way to supplement your income or to make a few extra dollars to
carry you over during hard times. You
can make between $20 and $35 per visit and you can give plasma twice in a 7 day
period, which equals around $200 to $300 per month in extra cash flow! Not a bad way to cover your extra cell phone
minutes, added fuel costs or even payoff high interest debt.
Most families need an extra $200 per month to carry them
over during hard times, and many must rely on title loans, payday loans,
signature loans, etc. to help make ends meet, often paying a minimum of 24%
interest on the borrowed money. Donating
plasma is a quick, safe and free way to get a few hundred dollars when you need
it most.
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