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How Small Changes in Financial Habits Can Lead to Big Impact: A Guide for Business Owners 🚀
Hey, you savvy business owners! 🌟 Do you find yourselves bogged down with financial woes and complex spreadsheets? Trust us, you’re not alone. But guess what? Small changes in your financial management habits can yield massive improvements, not just in your business but in your personal life too! 🎉
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The Real Deal: Financial Struggles are Universal 🌍
Before diving into the actionable stuff, let’s address the elephant in the room: financial stress. Whether you’re just starting out or running a successful medical practice, small business finances can be a juggling act. And sometimes, you might feel like you’re dropping the ball. But hey, don’t sweat it. We’re here to help you pick that ball up and slam dunk it! 🏀
Navigating the Storm: The ‘Aha!’ Moments 🤯
Ever had that sinking feeling when you look at all the random subscriptions you have but never use? It’s like discovering ‘holes in the boat’ of your business spending. This is your first ‘Aha!’ moment: knowing where the money drains are. The next step? Plugging those holes, stat! 💪
- Print out the statements from the last year of your business expenses account / credit card.
- Go through and see what you’re spending. Highlight different categories.
The Elephant in the Room: Taxes 📊
Just hearing the word ‘tax planning‘ makes your skin crawl, doesn’t it? The good news is, setting aside money for taxes isn’t as daunting as it sounds. Trust us, once you start doing this, it’ll feel like a “hundred-pound weight” lifted off your shoulders.
- Open a savings account and name it taxes.
- Every week or month (depending on when you do your business finances), transfer 15% of your revenue to taxes. Just start doing this immediately until you can do the next step.
- Hire a CPA who can tell you if 15% is correct for you, your business and your circumstances.
Keeping It Real with Family and Finances 👨👩👦
The family finances conversation is often a tricky one. But guess what? Intentional parenting and work-life balance come into play when you lead by example. Kids learn by watching, and what better lesson than to see their parents owning their financial future?
- Talk to your spouse about the budget and finances at least once a month on a budget-specific date night.
- Find ways to include your kids on the money conversation.
From Debts to Dreams: Actionable Tips 🎯
The transformation journey starts with baby steps in debt management.
- Make a budget and stick to it
- Save a portion of your earnings
- Track your expenses, even the small ones
Now that you have these budgeting tips, it’s time to get to work. And remember, progress isn’t about sprinting; it’s about setting a pace you can maintain.
The Game Changer: Financial Coaching 📈
Ever felt stuck and unsure of how to navigate the complex labyrinth of numbers? A financial coach can be your GPS, guiding you through the twists and turns. And it’s never too late to ask for help! 🙌 Try booking. afree call.
Book Your Free Call Now!
We are excited to create the time & space to talk to you about your current money situation. This is a free, no-obligation call where we can answer questions you may have and maybe find some quick wins for your budget.
What do you have to lose?
The Fun Stuff: Reclaim Your Dreams 😄
Whether it’s an adventure van, a wellness retreat, or even a small luxury like that cold plunge pool you’ve been eyeing, these dreams are within reach. All it takes is a little planning and a lot of perseverance.
- Look at your calendar for the next 180 days. When can you make a trip?
- Look at your budget, what sort of trip can you afford?
- Create a budget for your adventure and start funding it a little each month.
In Conclusion: Time for a Motivation Boost 🌈
Financial struggles are a part of life, but they don’t have to define you. Small changes can lead to big impact, transforming not just your business but your life.