I have been spending a lot of money lately. Does anybody have any tips or advice on how to scale back the spending and save a few bucks? Thank you!

Track your spending. That might be making notes in a notebook as you go along, or keeping the receipts, bus tickets etc. and writing them up later. I use an Excel page.

Look at what you have spent and note which are wants and which are needs. Find another way to supply the wants – clothing, try a charity shop (or simply wear what you already have), books, join your library, etc. Needs – see if you can cut down. Use less power, shorter showers, seek out cut prices, use coupons, try a cheaper brand, try to get a couple of days more out of products, delay haircuts for a couple of weeks more etc. It is nearly always possible to shave a bit off the price your normally pay. Save the difference.

I try to spend no more than a quarter of my weekly income. The rest stays in my bank account to meet regular bills paid by direct debit, and to be part of my emergency fund. I also channel some into a savings account where it will earn interest.

Hey all,
I don’t know right now whether or not I want a wedding planner. Are there any brides out there that are doing all of the planning? Any tips?
Also I’m looking for some budget cutting tips.
Thanks!

I’m planning everything myself. (First unnecessary expense cut. Saves a couple hundreds.)

Figure out your levels of importance. Ex: How important are the flowers to you? Photos? etc.

Some ways to cut costs:

1. Is a big fancy cake that important?
Perhaps you could have a sheet cake for the guests and a small tiered cake for the cutting ceremony OR cupcakes instead.

2. Is riding in the limo that important?
Perhaps you could just have a family member or friend drive you to the wedding in their car.

3. Are photos and a video that important?
Perhaps you only need one of them or neither of them.

4. Is champagne/alcohol that important?
Perhaps you could toast w/ sparkling cider instead.
Perhaps you could just serve beer and soda instead.

I decided:

1. I’m having the ceremony and the reception held at the same place.
So, I’m only pay ‘ 1′ rental fee.

2. I don’t need a photographer and a videographer.
So, I’m cutting out the videography.

3. I’m not that into flowers.
So, I’m having non-floral boutonnieres made for all the men and the bouquets
will be used as decor during the reception.

4. I talked to friends and family and found people that are offering to provide their
services to me as their wedding gift (dj, make-up/hair-dresser, cake, limo, etc).
So, I’m just giving them tips; (showing my appreciation and thanks)

The term spa is traditionally used to mean a place where water that is believed to have special health-giving properties occurs. This is usually a mineral or hot spring, and can include cold water treatments. The term is derived from the Belgian town of Spa.

A business traveler wants to minimize jet lag. A mother of three wants some time to herself. A group of friends plans a birthday celebration. A man with back pain seeks relief. A teenager is troubled by acne. A weekend warrior is sore from overexertion. A man decides to stop smoking. A busy executive wants to rediscover spirituality. A woman wants help establishing a safe and effective exercise regimen. An obese man needs help controlling his weight. A pregnant woman wants to feel more comfortable. A couple wants to reconnect. Where can all these people go for help? A spa.

The growing spa industry, valued at around 6 billion dollars in the US alone (ISPA Industry Study 2000, Price Waterhouse Coopers LLP), represents more than just another consumer market. It reveals a pressing need for those in the wealthy western world to re-evaluate rather than elaborate their life-styles.

A destination spa or resort spa is a business establishment which people visit for personal care treatments such as massages and facials in a hotel setting. Destination spas are often in exotic locations or in spa towns. Destination spas offer similar services to a beauty salon or a day spa, but people reside at a destination spa instead of just visiting for a treatment. Resort spas are generally located in resorts.

Today’s spa is a center for healing and nourishing mind, body, and spirit. People go to spas for fitness, stress management, peace of mind, pampering and pleasure, and health and wellness. Spas offer a wide variety of techniques and services – traditional and modern, from the East and from the West – to meet the diverse needs of their clients: Swedish, Japanese Shiatsu, and Thai massage, European facials, acupuncture, Dead Sea salt scrubs, Moor mud wraps, aromatherapy, reflexology, reiki, aura imaging, hypnotherapy, classes in nutrition, meditation, journaling, yoga and Tai Chi, state-of-the-art fitness centers with personal trainers, and much more. Other types of spas include day spas, club spas, cruise ship spas, medical spas, and mineral spring spas.

Typical spa services include:
nutrition counseling
weight loss
medical treatment
massage
reflexology
facials – facial cleansing with a variety of products
nail care
waxing – the removal of body hair with hot wax
body treatments such as body wraps, aromatherapy
skin exfoliation

Not every spa includes every domain. Spas come in many shapes, sizes, and focuses – from day spas where you can get a single treatment to destination spas where you can stay for a week or more to medical spas that treat cosmetic and chronic health problems.

For well over a decade now, it’s become increasingly clear that hotel and resort spas are here to stay! Properties that added a spa or upgraded their existing spa have benefited enormously. Increasingly, the savvy, health-conscious guest will choose to spend time at a property where spa services are offered. Since prestige levels, as well as occupancy levels, are elevated, staffing these spas with top-quality personnel will continue to be a priority for these hotels and resorts.

In order to become a spa therapist you need to have a unique combination of skills and require a great deal of training. You will also have to possess an almost unrivalled ability in a vast array of skills. You will have to be an excellent communicator not only with your friends and the people you know well, but with people from every age group, social background, ethnic origin, occupation and gender.

You will need to have a high degree of physical stamina due to the nature of the work and long working hours
You will have to learn basic rules of chemistry, physics, human anatomy, physiology and mathematics
You should be highly dextrous
Your personality should be vibrant, sparkling, strong and interesting
You should be diplomatic, sympathetic and have the ability to listen and communicate well
You will have to be prepared to undertake a long initial training and then to continue training for the rest of your working life.

To find all these qualities in a single individual is very difficult. That is why good spa therapists are rare and rare skills should be rewarded. The pay while training may be low, but it is often enhanced with tips and gratuities from clients and will be increased further by commission earned through selling retail products to clients. Spa therapists in top spas and those who progress to supervisory or management positions will earn even more.

Spa Directors
A Spa Director at a top-quality resort or hotel will oversee many areas, such as staffing, training, product purchasing, merchandising, setting up a strong retail outlet, budgeting and forecasting. He or she may be asked to help market the spa and be knowledgeable about Internet advertising and have Public Relations’ contacts. Spa Directors are often asked to help design new or additional spa areas and see the project through to opening. A seasoned Spa Director with a broad range of experience may be compensated in the $70-125K range.

A Spa Director just starting out at a small to mid-sized spa will, of course, not be offered as high a salary. The general salary range for this Director will typically be in the $50-65K range. All candidates must have a high level of operational experience and several certifications, including CPR and First Aid. The letters in CPR stand for cardiopulmonary resuscitation, a combination of rescue breathing (mouth-to-mouth resuscitation) and chest compressions. If a man isn’t breathing or circulating blood adequately, CPR can restore circulation of oxygen-rich blood to the brain. Without oxygen, permanent brain damage or death can occur in less than 8 minutes.

Assistant Spa Directors/ Spa Operations Managers
Salary range is generally $40-65K, dependent on the factors cited above and location, cost of living, etc. Candidates must have previous experience in a spa setting.

Taking a CPR Course
Qualified instructors use videos, printed materials, and demonstrations on mannequins representing infants, children, and adults to teach proper techniques for performing CPR. The American Heart Association’s basic life support course that includes CPR lasts about 6 hours and is sometimes held in two separate sessions. The courses teach CPR procedures for infants (under 1 year old), children (1 to 8 years old), and adults.

Participants practice the techniques on mannequins and have opportunities to ask questions and get individualized instruction. The final test for the course is a combination of demonstrating CPR skills and taking a written test.

Once considered to be a luxury, the services offered by spa therapists are enjoyed by an ever-increasing number of people. Spa facilities range from day spas, to spas in hotels and holiday resorts, some of which are in exotic locations.

Josh Stone
http://www.articlesbase.com/careers-articles/professional-careers-in-the-growing-spa-industry-96705.html

Her abusive boyfriend from the past cheated, lied, robbed, raped, abused, and misused her. When you first laid eyes on this gorgeous woman, the last thing you thought was you would be inheriting her wounds from yesteryear. Yet, you did and now you feel at times stuck with both his and her mess. You aren’t ready to break up with this woman you love, but you can’t see a future with her either. So what do you do about this past baggage that tends to show up on days that you think everything is perfectly okay? The following tips should help you get some peace of mind, reach a decision about the relationship, and help you help her to heal.

There is a big difference between a woman who calls herself a victim of domestic violence and one who calls herself a survivor. The survivor most likely has evolved from her experience and shows no signs of having ever been a victim. She has received the support she needed to move on and has taken the necessary changes to live her life to the fullest. However, a victim has not, will not, or doesn’t know how to get pass the experience. She may even still call herself, “a victim.” Somehow she continues to play the victim in her words and actions with every challenge that comes before her. She hasn’t bothered to get the help she needs, and you may be her only counselor.

Women who have been abused don’t necessarily get over everything they have gone through in the past. Some of the residue still remains. She may have some strange behaviors that tend to pop up every now and then. If he robbed her, she is possessive about her belongings. If he raped her, then she may have sexual problems. If he choked or smothered her, she may have problems sleeping at night or you touching, staring, or standing over her her while she sleeps. If he lied about his whereabouts a lot, then she will be bothered when you don’t say where you are going and how long you will be gone. If he cheated, then she won’t trust you when you say “…that woman is just a friend.” If he kept her from seeing or talking to family or friends, then she now feels obligated to tell them everything and not pass up an opportunity to attend a family gathering. If he expected her to report to him about everything she does, then she may tell you more than you ever needed or wanted to know or do the complete opposite and appear secretive. If he beat her, then she may flinch if you playfully try to grab her. These are only a small list of some of the things that trigger her misunderstood behaviors.

She may also have some phobias as a result of being in such a life threatening relationship. She may be afraid to go to certain places, avoid certain people and discussions that remind her of her abuser. She may have trust issues because of the many times her abuser violated her. She may not be as affectionate as other women you may have been involved. She may also have problems with budgeting because her abuser may have been very controlling with the finances or she may be domineering about the finances herself. There will be those times that she will appear very strong-minded and other times where she will be extremely sensitive over the simplest of issues. However, despite all of these issues, many women who have been in abusive relationships do well in society. They find the strength to get over many personal obstacles and oftentimes help others see things in relationships that their relatives and friends may have otherwise overlooked.

Going back to the issue of trust, your partner isn’t always mindful of her trust issues. You may think that she is deliberately making your life a living hell with all her questions, but some women do this without thinking. They may not have been “called out” on their insecurities prior to meeting you so how do you expect her to be self-aware? If she calls you too much to “check up on you” then say so and let her know you won’t always be available to answer her call, if it makes her feel better, let her know when you will be available to talk. If that still doesn’t help, and you just so happen to miss calling her, remind her that she should be treating you like how she wants to be treated. Disrespecting you will not be tolerated no matter how many times she tried to call you and you weren’t available.

Too often men put themselves in situations that call their character into question such as going out with other women without telling the woman they have made their partner, hiding details of their whereabouts, not being available emotionally, making important decisions without their mate, lying when asked simple questions, etc. When you are with someone who has had an abusive background, she will be more sensitive to what you are doing than most women, because she most likely dealt with these issues with her abuser. You can be a big help to her emotionally by doing two simple things: keep promises and be honest. Let her know what your relationship boundaries are before you think about committing to her for the long-term. An example would be telling her that you don’t want the kind of relationship where she acts like your mother rather than a girlfriend. Then list specific examples of the behaviors that are turning you off.

Communication is important in any relationship regardless of what type of experience someone has had prior to entering a new relationship. Without it, you will have trust issues, arguments, repeated break ups and so on. As soon as an issue comes up that bothers you, talk it over in a respectful manner. If she loves you, she will respect you and if you love her you will return the respect.

Being with someone who has been abused requires some degree of patience. You will have to allow her to get to know you through her making mistakes. She may have forgotten that you don’t like a certain thing she does, forgive and forget. She may have checked up on something you said you had completed, don’t be so easily offended. Be open to mistakes and allow her to learn from them. If you find that she is consistently doing something that is robbing you of feelings for her, then before you break up with her, talk to her about it. See if she can meet you half way, and then sit back and watch her behavior to see if anything changes, if not, then you will have to make the decision to end the relationship. Don’t create a scene or do something to get her to break up with you, the last thing you need is a domestic violence situation yourself.

Some formerly abused women tend to be overbearing at times. This may be due to feeling powerless in their past abusive relationship. They want things to go their way, they expect others to do what they say when they say it, they yell instead of talk, and most of all they can be extremely demanding, because they are hard on themselves due to someone being hard on them. When you find your mate is acting this way, once again you will have to talk to them about how it makes you feel, ask them to stop certain mannerisms, and if you are not living with them at the time, don’t. Until she understands how you feel about her behavior and have made some serious changes, you will not want to live under her rule. These women have not allowed themselves enough time to heal and they are better off living alone.

Another major concern about women who have not healed from their abusive past is that they may be hiding the fact that they may be equally abusive. Some women turn into abusers themselves. She may have cut herself, threatened to hurt you in some way. If she has children or a pet, you will be able to see signs of whether she is abusive to them. If the children and pet tend to act afraid of her, most likely she has been violent toward them. Look for recent bruises and scars on the children along their face, neck, arms, and legs. Watch how the animal walks, he may have been repeatedly kicked by her and the children. If you are in her home, look for damaged walls and furniture. Sometimes children are responsible for the mess in the home, and if so, then ask yourself the question, “Why would the children ruin the house?” They may be affected by the past or the past is still going on and she just hasn’t said anything about it.

Not every woman who has been in an abusive relationship has gone through professional counseling. So be mindful of how she reacts when put under stress, the way she talks to you, and how she handles conflict. If you don’t pay close attention to the warning signs, then you will be inheriting an abuser yourself along with her abusive children. Instead of being her lover, be a friend and direct her to some help and if you are spiritual, pray for her and invite her (and the children) to your church, but whatever you do, don’t make her feel ashamed for what she has done, belittle, or disrespect her, she has already had enough of that kind of behavior from her abuser.

Nicholl McGuire

I’m getting married nxt year and could do with some budget tips , I’ve worked out we will have about 3000 .
Doing anything at home ain’t an option due to small space .
Day service numbers will be 28 adults and 8 kids , evening guest numbers about 100..
Please help I don’t no where to start lol
We live in Somerset in south west England

The best way to cut down on the cost of a wedding is to trim the guest list. This will cut down on your food bill, alcohol, venue, decorations, invitations, etc.

One option is to have a cake and punch reception held in the mid afternoon. Another is to look around for an inexpensive buffet or a back yard BBQ.

You can get a cake and flowers from the local supermarket instead of a flower shop and baker respectively.

Buy your dress off the rack or a white prom dress. There is not need for you to have an expensive designer wedding dress.

Have a "dry" wedding. Do not have a cash bar, just no bar at all. Making your guests pay for their refreshments is tacky.

Have you recently started your own home business, but aren’t sure how to handle the finances?  Are you nervous when it comes to business debt, budgeting for the future and balancing your gross/net figures?  Below are some helpful tips to guide you through some of the most difficult tasks of business finance. You can accurately and consistently manage your business finances without a lot of stress if you’ll implement the simple principles below.

Finance Starting Point

In order to manage your home business finances, you need a definite starting point.  This will be a summary of your entire financial assessment for your business. Note of Warning:  Often, a home business finance plan mingles with personal finances.  Try to keep these as separate as possible for tax purposes and to avoid confusion.  Even if you buy something personal with business money, write it down so you’ll be sure not to include it as a business expense.

Your Starting Point Assessment Should Include the Following:

*Most Current Gross Profits/Loss of the Business

*Most Current Net Profits/Loss of the Business (your bottom line)

*Cash on Hand

*Checking Account Balance

*Debts/Loans for the Business (include payments due and balances)

*Assets

*Advertising Funds

*Miscellaneous Items having to do with your business finances

Once you have an assessment of where you stand financially with your home business, you can move forward.  The assessment is not your budget, but it allows you to create a budget based on realistic figures.  Budgeting on a dream is not wise with a business.  You might reach your goals, but what if you don’t?  Set your goals, but only budget for those amounts when you’ve actually reached them.

Creating a Home Business Budget

Most home businesses have a tremendous advantage over larger businesses because operating expenses are normally much lower.  There’s no building rent to pay, additional utilities, etc.  If you stay at  your desk most of the day, you will save on gas, car maintenance, etc. For this reason, it’s usually easier to budget for a home business. Based on what your business has profited over recent months, or your start-up cash if your business is brand new, write down all of your business expenses that need to be paid for each month or year to get a monthly estimate. What about your salary?  The salary must be determined only after your expenses are paid.  If there’s any left, you’ll still want to keep extra cash in your business account for emergencies or unexpected slow times.  You should determine your salary on the low end at first while building your business and stick with your salary amount to maintain a steady budget. For example, if you’re able to take a $350 per week salary in a brand new home business, that’s great!  Many home business owners work a full time job while building their business and take very little (if any) salary. If you have a business checking account or some form of online account for finances, you should deposit all funds into this account and pay your salary out of the account as well as your expenses.  Checking accounts make budgeting a simple process if you keep your checkbook well balanced at all times.

Create a Budget Based on the Following Categories (more if necessary):

Some of these items will be broken down into weekly figures, some monthly and some yearly.  However, you should calculate a monthly average in order to create a general monthly budget.

*Business Expenses (include supplies, equipment, phone, etc.)

*Insurance (business and personal health insurance can be included)

*Taxes (estimated figure from your accountant based on profits)

*Debt Repayment for any business loans

*Advertising (amount will vary, but you can set a minimum or maximum amount)

*Your Salary

Once you have a list of expenses for each month, write down due dates for each, and pay bills as they come due.  Pay on time, but not too early. Your money can sit in your bank account and draw interest in many cases while waiting on due dates.

Budget with Slow Times in Mind

Just because you have tremendous profits one month, this doesn’t indicate that you can raise your salary.  Leave money in your account for those slow times.  Also, budget in advance for payments which are due yearly.  It’s much easier to save a little each month than to be surprised with a large bill later. Following the simple budgeting guide above will enable you to keep an even pace while managing your business finances.  Handle your finances with care because this is the lifeline of your home business.

Curt Miller

Have you recently started your own home business, but aren’t sure how to handle the finances?  Are you nervous when it comes to business debt, budgeting for the future and balancing your gross/net figures?  Below are some helpful tips to guide you through some of the most difficult tasks of business finance. You can accurately and consistently manage your business finances without a lot of stress if you’ll implement the simple principles below.

Finance Starting Point

In order to manage your home business finances, you need a definite starting point.  This will be a summary of your entire financial assessment for your business. Note of Warning:  Often, a home business finance plan mingles with personal finances.  Try to keep these as separate as possible for tax purposes and to avoid confusion.  Even if you buy something personal with business money, write it down so you’ll be sure not to include it as a business expense.

Your Starting Point Assessment Should Include the Following:

*Most Current Gross Profits/Loss of the Business

*Most Current Net Profits/Loss of the Business (your bottom line)

*Cash on Hand

*Checking Account Balance

*Debts/Loans for the Business (include payments due and balances)

*Assets

*Advertising Funds

*Miscellaneous Items having to do with your business finances

Once you have an assessment of where you stand financially with your home business, you can move forward.  The assessment is not your budget, but it allows you to create a budget based on realistic figures.  Budgeting on a dream is not wise with a business.  You might reach your goals, but what if you don’t?  Set your goals, but only budget for those amounts when you’ve actually reached them.

Creating a Home Business Budget

Most home businesses have a tremendous advantage over larger businesses because operating expenses are normally much lower.  There’s no building rent to pay, additional utilities, etc.  If you stay at  your desk most of the day, you will save on gas, car maintenance, etc. For this reason, it’s usually easier to budget for a home business. Based on what your business has profited over recent months, or your start-up cash if your business is brand new, write down all of your business expenses that need to be paid for each month or year to get a monthly estimate. What about your salary?  The salary must be determined only after your expenses are paid.  If there’s any left, you’ll still want to keep extra cash in your business account for emergencies or unexpected slow times.  You should determine your salary on the low end at first while building your business and stick with your salary amount to maintain a steady budget. For example, if you’re able to take a $350 per week salary in a brand new home business, that’s great!  Many home business owners work a full time job while building their business and take very little (if any) salary. If you have a business checking account or some form of online account for finances, you should deposit all funds into this account and pay your salary out of the account as well as your expenses.  Checking accounts make budgeting a simple process if you keep your checkbook well balanced at all times.

Create a Budget Based on the Following Categories (more if necessary):

Some of these items will be broken down into weekly figures, some monthly and some yearly.  However, you should calculate a monthly average in order to create a general monthly budget.

*Business Expenses (include supplies, equipment, phone, etc.)

*Insurance (business and personal health insurance can be included)

*Taxes (estimated figure from your accountant based on profits)

*Debt Repayment for any business loans

*Advertising (amount will vary, but you can set a minimum or maximum amount)

*Your Salary

Once you have a list of expenses for each month, write down due dates for each, and pay bills as they come due.  Pay on time, but not too early. Your money can sit in your bank account and draw interest in many cases while waiting on due dates.

Budget with Slow Times in Mind

Just because you have tremendous profits one month, this doesn’t indicate that you can raise your salary.  Leave money in your account for those slow times.  Also, budget in advance for payments which are due yearly.  It’s much easier to save a little each month than to be surprised with a large bill later. Following the simple budgeting guide above will enable you to keep an even pace while managing your business finances.  Handle your finances with care because this is the lifeline of your home business.

Curt Miller

Have you recently started your own home business, but aren’t sure how to handle the finances?  Are you nervous when it comes to business debt, budgeting for the future and balancing your gross/net figures?  Below are some helpful tips to guide you through some of the most difficult tasks of business finance. You can accurately and consistently manage your business finances without a lot of stress if you’ll implement the simple principles below.

Finance Starting Point

In order to manage your home business finances, you need a definite starting point.  This will be a summary of your entire financial assessment for your business. Note of Warning:  Often, a home business finance plan mingles with personal finances.  Try to keep these as separate as possible for tax purposes and to avoid confusion.  Even if you buy something personal with business money, write it down so you’ll be sure not to include it as a business expense.

Your Starting Point Assessment Should Include the Following:

*Most Current Gross Profits/Loss of the Business

*Most Current Net Profits/Loss of the Business (your bottom line)

*Cash on Hand

*Checking Account Balance

*Debts/Loans for the Business (include payments due and balances)

*Assets

*Advertising Funds

*Miscellaneous Items having to do with your business finances

Once you have an assessment of where you stand financially with your home business, you can move forward.  The assessment is not your budget, but it allows you to create a budget based on realistic figures.  Budgeting on a dream is not wise with a business.  You might reach your goals, but what if you don’t?  Set your goals, but only budget for those amounts when you’ve actually reached them.

Creating a Home Business Budget

Most home businesses have a tremendous advantage over larger businesses because operating expenses are normally much lower.  There’s no building rent to pay, additional utilities, etc.  If you stay at  your desk most of the day, you will save on gas, car maintenance, etc. For this reason, it’s usually easier to budget for a home business. Based on what your business has profited over recent months, or your start-up cash if your business is brand new, write down all of your business expenses that need to be paid for each month or year to get a monthly estimate. What about your salary?  The salary must be determined only after your expenses are paid.  If there’s any left, you’ll still want to keep extra cash in your business account for emergencies or unexpected slow times.  You should determine your salary on the low end at first while building your business and stick with your salary amount to maintain a steady budget. For example, if you’re able to take a $350 per week salary in a brand new home business, that’s great!  Many home business owners work a full time job while building their business and take very little (if any) salary. If you have a business checking account or some form of online account for finances, you should deposit all funds into this account and pay your salary out of the account as well as your expenses.  Checking accounts make budgeting a simple process if you keep your checkbook well balanced at all times.

Create a Budget Based on the Following Categories (more if necessary):

Some of these items will be broken down into weekly figures, some monthly and some yearly.  However, you should calculate a monthly average in order to create a general monthly budget.

*Business Expenses (include supplies, equipment, phone, etc.)

*Insurance (business and personal health insurance can be included)

*Taxes (estimated figure from your accountant based on profits)

*Debt Repayment for any business loans

*Advertising (amount will vary, but you can set a minimum or maximum amount)

*Your Salary

Once you have a list of expenses for each month, write down due dates for each, and pay bills as they come due.  Pay on time, but not too early. Your money can sit in your bank account and draw interest in many cases while waiting on due dates.

Budget with Slow Times in Mind

Just because you have tremendous profits one month, this doesn’t indicate that you can raise your salary.  Leave money in your account for those slow times.  Also, budget in advance for payments which are due yearly.  It’s much easier to save a little each month than to be surprised with a large bill later. Following the simple budgeting guide above will enable you to keep an even pace while managing your business finances.  Handle your finances with care because this is the lifeline of your home business.

Curt Miller

Have you recently started your own home business, but aren’t sure how to handle the finances?  Are you nervous when it comes to business debt, budgeting for the future and balancing your gross/net figures?  Below are some helpful tips to guide you through some of the most difficult tasks of business finance. You can accurately and consistently manage your business finances without a lot of stress if you’ll implement the simple principles below.

Finance Starting Point

In order to manage your home business finances, you need a definite starting point.  This will be a summary of your entire financial assessment for your business. Note of Warning:  Often, a home business finance plan mingles with personal finances.  Try to keep these as separate as possible for tax purposes and to avoid confusion.  Even if you buy something personal with business money, write it down so you’ll be sure not to include it as a business expense.

Your Starting Point Assessment Should Include the Following:

*Most Current Gross Profits/Loss of the Business

*Most Current Net Profits/Loss of the Business (your bottom line)

*Cash on Hand

*Checking Account Balance

*Debts/Loans for the Business (include payments due and balances)

*Assets

*Advertising Funds

*Miscellaneous Items having to do with your business finances

Once you have an assessment of where you stand financially with your home business, you can move forward.  The assessment is not your budget, but it allows you to create a budget based on realistic figures.  Budgeting on a dream is not wise with a business.  You might reach your goals, but what if you don’t?  Set your goals, but only budget for those amounts when you’ve actually reached them.

Creating a Home Business Budget

Most home businesses have a tremendous advantage over larger businesses because operating expenses are normally much lower.  There’s no building rent to pay, additional utilities, etc.  If you stay at  your desk most of the day, you will save on gas, car maintenance, etc. For this reason, it’s usually easier to budget for a home business. Based on what your business has profited over recent months, or your start-up cash if your business is brand new, write down all of your business expenses that need to be paid for each month or year to get a monthly estimate. What about your salary?  The salary must be determined only after your expenses are paid.  If there’s any left, you’ll still want to keep extra cash in your business account for emergencies or unexpected slow times.  You should determine your salary on the low end at first while building your business and stick with your salary amount to maintain a steady budget. For example, if you’re able to take a $350 per week salary in a brand new home business, that’s great!  Many home business owners work a full time job while building their business and take very little (if any) salary. If you have a business checking account or some form of online account for finances, you should deposit all funds into this account and pay your salary out of the account as well as your expenses.  Checking accounts make budgeting a simple process if you keep your checkbook well balanced at all times.

Create a Budget Based on the Following Categories (more if necessary):

Some of these items will be broken down into weekly figures, some monthly and some yearly.  However, you should calculate a monthly average in order to create a general monthly budget.

*Business Expenses (include supplies, equipment, phone, etc.)

*Insurance (business and personal health insurance can be included)

*Taxes (estimated figure from your accountant based on profits)

*Debt Repayment for any business loans

*Advertising (amount will vary, but you can set a minimum or maximum amount)

*Your Salary

Once you have a list of expenses for each month, write down due dates for each, and pay bills as they come due.  Pay on time, but not too early. Your money can sit in your bank account and draw interest in many cases while waiting on due dates.

Budget with Slow Times in Mind

Just because you have tremendous profits one month, this doesn’t indicate that you can raise your salary.  Leave money in your account for those slow times.  Also, budget in advance for payments which are due yearly.  It’s much easier to save a little each month than to be surprised with a large bill later. Following the simple budgeting guide above will enable you to keep an even pace while managing your business finances.  Handle your finances with care because this is the lifeline of your home business.

Curt Miller