Market Performance: December 21, 2023.

US stocks slipped on Wednesday, as a record-setting rally took a breather after a string of gains over the past week.

The Dow Jones Industrial Average (^DJI) fell more than 1.2%, while the tech-heavy Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) sank about 1.5%. The down day marked the S&P's worst single-day performance since October, while it also snapped a nine-day winning streak for the Nasdaq and Dow Jones.

Stocks had been building on a strong year-end rally, with Tuesday's finish giving the Dow its fifth record close in a row and bringing the S&P 500 closer to its all-time high set in January 2022. Investors have shrugged off hawkish comments from Federal Reserve officials, who have tried to temper expectations that the central bank will quickly turn to bringing down benchmark rates.

The 'emotional' factor of money management

You think you have money woes.

“I’ve been laid off from a good, high-paying job, I’ve had horrible credit. I’ve had negative balances in my bank accounts and have been so broke that I had a car repossessed,” writes Lynnette Khalfani-Cox, a money coach, in her new book “Bounce Back: The Ultimate Guide to Financial Resilience.” “I’ve been through a ridiculously costly divorce.”

Khalfani-Cox doesn’t stop there. She racked up $100,000 in credit card debt, faced housing discrimination, poor health issues, and the loss of an older sister who passed away suddenly.

Despite all of those setbacks, she took back control of her finances, and today, the personal finance expert and author of the New York Times bestseller “Zero Debt” is out to help other people take practical steps to solve their day-to-day money difficulties and build financial security.

Here's what Khalfani-Cox recently told Yahoo Finance about how even when the odds are against you, with determination, skill, and resilience, nearly anything is possible.

Ways to improve cash flow for your small business

Even a profitable, fast-growing company can come up against cash flow issues. And since that’s true, you better believe that companies going through lean times often struggle with cash flow management. However your company is currently faring, a little proactive work can go a long way here.

Plan ahead for cash needs:

The last thing you want is to have someone hit up your business for a payment you need to make, only to discover you don’t have enough funds. Or, worse yet, to go to run payroll and find you’re short. To avoid this unwelcome scenario, do a cash flow analysis. This means tracking all the ways cash moves in and out of your business.

The end result should be a cash flow statement. This gives you a tangible way to make sure your business cash flow can keep up with necessary expenses, whether that’s paying vendors, your team or your taxes.

Cut unnecessary spending:

Your cash flow analysis should give you a good idea of how your company spends its money. Take a close look at any high-expense categories. If you’re spending a lot on office space but some of your team has been asking to go remote or hybrid, for example, you might have a cost-cutting opportunity there. And anywhere you can slash ongoing expenses will support healthier cash flow management.

If you’ve been wondering how to improve cash flow in a small business, here are some other suggestions.

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