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Women Working From Home


Women Working From Home
Create a Budget You Can Live With
I would venture to guess that it would be unnecessary for me to poll the readers to
confirm that one of the most dreaded tasks for us in our personal lives is to create
and live by a budget. I would also speculate that when many of us stumble upon
something we would like to own, we find a way to purchase it.
This type of sporadic spending, if practiced on a regular basis, can perpetrate havoc
on a budget and take months, if not years, to get under control.
By the same token, one of the most critical elements of managing your business
finances will be to create a budget you can live with and then follow. Creating a
budget is not a complicated task. All you need are good basic math skills and the
common sense to know that you cannot spend more than you earn.
Below are simple steps that will walk you through creating a budget for your
business:
• Estimate your potential income. Since you cannot be certain how
much money your business will generate on a monthly basis, you will
have to estimate. Include all anticipated income from sales and
investments, as well as account receivable.
• Total your absolute monthly business expenditures. These are
expenses and items that you know you will incur because they are
necessary to operate your business.
• Determine all non-essential expenses you could potentially incur that
are not detrimental to your business and that you could conduct
business without.
• Factor in the amount you would like to contribute to a savings plan,
additional investments, or pay ahead on debts.
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