The Toughest Personal Finance Skill, According to Advisors.

Being a "master of cash flow" is one of the most challenging aspects of personal finance, according to certified financial planner Douglas Boneparth. Balancing the cost of funding your lifestyle with consistent saving and investing is key to achieving financial goals. Without discipline around cash flow, unforeseen life events may cause individuals to dip into investments they had hoped not to touch for years. Once households have a grasp on cash flow, they can prioritize measurable goals such as building an emergency cash reserve and saving for retirement, a down payment, or a child's college education.