Financial Terms Everyone Should Know – Budget & Cash Flow

April is Financial Literacy Month. Starting this April, we will be looking at various financial terms that everyone should know. We will go over their meanings and get some familiarity with these terms. These terms will not necessarily be military-related, but more general in nature. To learn more I recommend checking out Financial Terms Dictionary (investopedia.com).

A budget or spending plan is the backbone of your financial plan. It’s been said that a budget is you telling your money where to go instead of you wondering where it went! There are many online tools and spreadsheets available for budgeting, but all you really need is a pencil and paper. The best budget tool is the one that you will use. Need help creating a workable budget? Resources are available on your installation or let me know, I have multiple budget tools that have helped many.

Cash flow – This is the cycle of funds coming in and out of your hands. It’s true, happiness is a positive cash flow! A budget helps you manage your cash flow.

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