In this episode, we’re talking about how we keep track of and manage our business and personal finances. 

When you’re first getting started, managing all of the moving pieces on your own can seem a little daunting and who wants to talk about money anyway? 

Well, we do! In this episode we’ll cover questions like – do you need a separate bank for business? Does all the money you make go back into your business? How do I know what I owe for taxes each quarter? By the way, what are quarterly taxes?! 

While it’s not a sexy topic, as an entrepreneur it’s important to become savvy about your money and know what’s going on weekly, monthly, etc. not only for the sake of your business goals but for your personal goals as well.

Topics covered:

• Monthly budget and budget meeting/party
• Setting aside 20% for business taxes (how we came up with this % for us)
• Software we use to help us keep track of finances
  • Personal – pen and paper and our bank app
  • Business – Quickbooks, VoV, PayPal
• Talk about business account within our main bank account + separate tax funds account 
• Break down percentage-based budget for personal and business
• How we make decisions for big business purchases