Most of us don’t really love talking about numbers, especially when it comes to money management. If you’re anything like I used to be, you probably think money management is code for “restrictions”. But, I’m here to share with you a different perspective.
If we look at money management as a plan of action, we can actually find it to be empowering. It’s taking control of your numbers and giving them a place to go. Of course, some numbers HAVE to go to certain places – that’s just life and business, but in other areas, you can choose where you want those numbers to go. As long as they make sense for your business.
Like any plan, you need to know where to begin. Knowing what your numbers actually are is ALWAYS your starting point. You need to know what money you have coming in and what money you have going out and when that money needs to be wherever it’s going. I don’t want you to fret over this. I want you to be mindful of it. Remember, knowledge is power, even when we talk about your numbers.
Having a money management plan, and knowing your numbers will allow you to make cuts where you need to (like, that subscription you still have but NEVER utilize), it allows you to adjust your categories as necessary (like, continually going over your Marketing budget, and adjusting things in order to allot more money there), and even keep track of unnecessary expenses (like your daily coffee shop stops…. three times a day).
Most importantly, it keeps you in the know with your numbers and makes sure the money coming out actually comes out and the money going in actually goes in. With a money management plan, your business will run smoother and more efficiently because you know your income and operating expenses.
When you’re able to plan and adjust accordingly, you’ll see your numbers grow, and once you start seeing your numbers grow, you’ll watch them turn into sassy and sexy numbers.