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You Can Run a Business and Manage Your Personal Finances

May 28, 2019 by OSYB Staff

Intuit QuickBook shares some tips on how a small business owner can run a solid business and also be successful at managing their personal finances and plan for retirement:

  • examining your personal finances can be uncomfortable, so change your mindset and accept that making changes often times is uncomfortable but it does need to be done and take a realistic look at where you are financially right now
  • look at all your personal numbers, that includes personal credit card debt, loan documents and bank records and do not include business activity, and put them all on paper
  • when you have all this information, create a monthly budget and track it regularly
  • pay yourself 5% of your gross income monthly to create a savings account
  • always work on cutting down your spending
  • paying your debt off should always be the priority when you have extra income
  • as soon as you are able start working with a reputable financial adviser and start investing


For details: How to take charge of your personal finances as a small-business owner

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