michael harr, mba
surplus
Congratulations!  If you've succeeded in managing your cash flow well enough to produce consistent surpluses, your cash flow chart should look something like the one below.  From here, it's a matter of making smart decisions about how to use those surpluses.  You can bulk up your emergency fund, take care of a wish list item or two, or whatever it is that tickles your fancy.  On this page, you'll see how to manage your surplus and some of the best ways to use this money.
a cash flow surplus is when you have extra money available in your forecast to spend, save, or give

how to manage your surplus

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step 1:  identify your immediate surplus

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step 2:  hide future surpluses...for now

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step 3:  add your surplus to your plan

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an emergency fund that is added to regularly is the best vaccine against financial stress and anxiety

smart uses for your surplus

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emergency fund

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your wish list

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payoff short-term debt

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free retirement money

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housing

Save for a New Home.  After you've established an emergency fund, paid off your short-term debt, and are saving for retirement, you should be in a very strong position to save oodles of cash for a new home.  Do it!  Go all out saving for your home.

Payoff Your Mortgage Faster.  There are plenty of ways to payoff your home a little faster by putting your surplus to work.  You have a few options here:
  • Refinance Your Mortgage to a Lower Rate - blah.
  • Pay Your Mortgage Bi-Weekly - blah.
  • Pay 10% More Than What's Due - blah.
  • Add an Extra Payment Annually - blah.

tax-preferred retirement savings

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college savings

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