8 tips to improve cash flow

If you think about a budget as how you spend your money, cash flow is about when you spend it — and it's an equally important part of managing your finances.

These ideas will help you to better manage your cash flow:

1. Set up Direct Deposit with your employer or other cheque issuer to have the funds deposited automatically into your account.
2. Arrange for mortgage payments to come out of your account on the same day as payday.
3. Pay bills on a different payday than the one you use for your rent or mortgage, to help stagger expenses.
4. Set up Pre-Authorized Debits for routine bills.
5. Make a note of the amounts and dates on which pre-authorized payments will come out of your account each month, plus the due dates of other bills. Mark these in your calendar or keep a separate fixed-expenses list.
6. Keep a minimum balance in your account to help avoid cash flow timing issues. You may want to consider getting Overdraft Protection — it can help reduce the stress of juggling payments and deposits to ensure there's enough money in your account.
7. Set up an emergency account to cover unforeseen major expenses that could otherwise derail your cash flow planning.
8. Stay on top of cash flow by logging in to EasyWeb regularly or using the TD mobile app.

Avoid the frustration of bounced cheques and late fees, with simple ideas to manage your account.