How Do Small Business Owners Pay Themselves? Smart Solutions
- Nancy Rich
- Dec 20, 2021
- 1 min read
Updated: Jan 3, 2022
Do you feel like you're working yourself to death? Do you feel like you are not able to save enough? Then join in, Saving can be challenging on a low income.
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Paying Yourself Takes Discipline
How many times have you said, " I will put in $50 in the bank every week,"? Two weeks passed, and you still have not put anything into the bank. Sometimes with our busy lives, we forget to pay ourselves. We can pay our bills, family, and friends; but when it comes to ourselves, we put that last.
4 Ways to Discipline yourself
If you are having problems saving, while having a small business try the following:
Create a backup account for emergencies
Separate your Business and Personal accounts
Add your savings contributions into a fixed expense
Estimate your earnings monthly and set aside extra cash
Keeping track of your finances is the main goal; of paying yourself. Make sure you keep business records and receipts in a safe place. Small business owners, you can pay yourself.
By prioritizing and keeping accurate records, you can pay yourself.
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