Solopreneur Budgeting 101: Mastering Your Money from Day One
By: A Staff Writer
Updated on: Jul 25, 2024
Don’t let unpredictable income derail your business dreams! Get smart about your finances with these foundational practices.
- Separate Accounts: Open a business checking account (and consider a savings too).
- Track Everything: Choose a simple system (spreadsheet, app) and use it RELIGIOUSLY.
- The Taxtimate Jar: Set aside 25-30%+ of income for taxes to avoid nasty surprises.
- Pay Yourself First: A set ‘salary’ creates discipline, even if it’s small initially.
- Plan for Lean Months: Save during the good times, so you don’t stress later.
- Regular Review: Check in WEEKLY, at minimum, to catch issues early.
Budgeting isn’t just about numbers; it’s about peace of mind.
Financial control puts you in the driver’s seat of your business.
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