Today's column is all about managing cash flow. In the broadest sense, cash flow assesses how money comes to you and how you spend it. When more money comes into your accounts than goes out, then you are in a positive cash flow. The opposite of that is a negative cash flow. It is quite possible for a company with more revenues and assets than debts and liabilities to go bankrupt if it does not have the cash on hand to meet employee payroll, make loan payments or meet other financial obligations that can't be put off.
Individuals also have to monitor cash flow to stay out of financial trouble.
I put off writing it as long as I could. But don't let it discourage you from continuing to read. Managing cash flow requires discipline, not deprivation. Some sacrifices will have to be made, but budgets are not punishments. They are spending plans that allow people to live financially healthy lives.