Every successful business relies on a financial system to carefully control income and expenses.
A business must have a system to know its present financial status, and more important, to plan for its future financial moves. Your personal financial situation is comparable to that of a business. Both have concerns for profit, income and expenses, and spending decisions affected by anticipated circumstances. Consequently, personal cash flow management is designed to handle your financial situation like a business, and you will function as the controller. It will allow you to see your financial situation from a long-term, systematic viewpoint.