Cash Flow Statement
Why Create A Cash Flow Statement?
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A cash flow statement can help you:
- Prepare for any changes in your cash flow that might result from decreases in income or increases in expenses -- events that people serious and life-changing health conditions often experience.
- Take control of your financial situation by solving the mystery of where your money goes and helping you plan for emergencies.
- Analyze the reliability of your income. How much of your income last year was from a second job or a spouse's job? What would happen if this income supply dried up -- for whatever reason?
- See how much you pay in taxes.
- Calculate an emergency fund -- an amount you put aside in readily accessible cash "just in case."
- Recognize how much your debts cost you.
- Check your level of savings and identify ways to increase it.
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