Banking & Credit
Learn how to pay down debt quicker and create new cash flow from your investments.
Our Banking and Credit Services include:
Become Your Own Bank!Manulife One is a great tool for helping homeowners become debt-free sooner, and it can be an effective financial tool for homeowners who have already paid off their mortgage. Manulife One provides you with convenient access to your home equity, up to your borrowing limit. If a borrowing need arises, such as a car purchase, vacation property or children's education, you can simply write a cheque, use your debit card or transfer funds online. You may never need to apply for a loan again. Click here to find out more.
What is Cash Flow Planning?In simple terms, cash flow refers to the inflow and outflow of money. It is a record of your income and expenses. Though this sounds simple, very few people actually take the time out to find out what comes in and what goes out of their hands each month.
It also refers to the process of identifying the major expenditures in future (both short-term and long-term) and making planned investments so that the required amount is accumulated within the required time frame.
Cash flow planning is the first thing that should be done prior to starting an investment exercise, because only then will you be in a position to know how your finances look like, and the amount you can invest without causing a financial burden. It will also enable you to understand if a particular investment matches with your personal requirements.
Why is Cash Flow Planning Important?
Businesses and corporations commonly use cash flow plans, because without a viable cash flow plan, a company could easily spend more than its revenue, putting it in financial peril. Unfortunately, most of us do not realize that a cash flow plan is as important for people just like us. The principles that apply to corporate finance and to our personal lives are largely the same.
***The above activites are not supervised by Global Maxfin Investments Inc.***