Planning Your Finances through Irregular Business Income

It's difficult to plan your personal finances as you begin to grow your business, especially when it's irregular or severely impacted by outside forces (*cough* COVID-19 Pandemic)!

Here are a few tips to smooth out your personal finances even though you might experiences valleys and peaks in your business income.

- Plan out how much money you need to live off of for one month, it is important to include items such as rent, food, utilities, etc.

- Setup a pay day where you pay yourself, and transfer this amount to your personal checking from your business account

- Take a look at your net profit, and put 30% into savings for taxes

- The balance stays in your business account to cover business expenses and a slow month's pay day

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