If you are trying to grow your business, you need to have a money management plan. Without one, you’ll have no idea what money is coming in or going out. Without a plan, you’ll never know when bills are due to be paid, and you’ll be living in a constant state of money chaos.
This is a sure sign that your money is telling you what to do, causing you stress, and taking control instead of the other way around. But it doesn’t have to be that way. You can take the power back. You can take charge and tell your money where to go!
How many times have you been in this situation:
You desperately need a new computer, but you look at your business numbers and see that the money isn’t there. That’s your money being in control. That’s your money saying, “Nope, not today.” Imagine looking at your business numbers and saying, “this is how I can get a new computer,” or “I know I can get a new computer because I have my plan in place.”
That’s what a money management plan can do for you.
That’s what taking control of your numbers looks like.
That’s how you feel EMPOWERED by your numbers.
That’s how you end the stress and chaos.
So, how do you create a money management plan?
Well, here are 5 steps to get you the most straightforward money management plan:
- Add up ALL your income sources
- Determine your fixed costs (i.e. Monthly subscription payments, team members, etc.)
- Include variable expenses (i.e. Client lunch meeting, office supplies)
- Estimate/Predict any One-Time expenses (i.e. A business retreat you have been wanting to go to)
- Put all these numbers together in one place, and you are ready to PLAN!
It really is that simple.
Having all your numbers in one place will easily show you how much money you will have left once all the expenses are paid. That leftover money…that’s what you get to plan for. But, maybe you notice….you don’t have any leftover money and are short some funds. That is okay too – now you know! Now you can make a plan that works for your business.
Having a money management plan doesn’t have to be scary.
A money management plan can make your numbers go from scary to sassy and sexy!