#27: BEYOND THE NUMBERS: SHIFTING YOUR MONEY MINDSET

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In this episode of the Financially Adjusted podcast, I share some tips & strategies for building a 6 month business savings fund—an often-overlooked lifeline for business owners. With inflation on the rise and cash flow unpredictability affecting many small businesses, having an emergency savings cushion is more crucial than ever. It’s not always an easy or quick task, but it’s such an important part of building a healthy thriving business.

Key Takeaways:

1. Create Margin: Start by knowing your budget and regularly analyzing expenses to find savings opportunities.
2. Think Creatively: Consider temporary revenue streams or cutting unnecessary costs to reach savings goals faster.
3. Utilize High-Yield Accounts: Place your savings in high-yield accounts for better returns.
4. Frequent Financial Check-ins: Monitor progress regularly to stay on track and make necessary adjustments.
5. Make Sacrifices: Evaluate personal and business expenses and consider reducing them temporarily to achieve your savings goal.

Resources Mentioned:

· Budgeting podcast: Episode 2: Don’t Fudge it, Just Budget

· Budgeting YouTube Tutorial

· Savings podcast: Episode 6: Save So You Don’t Cave

Helpful Resource: Free Estimated Tax Guide

Email me with any questions you’d like answered in future Q&A episodes!

Recommended payroll software (affiliate link):
ADP
GUSTO

Recommended bank and the one I use in my business (affiliate link):
RELAY BANK

QuickBooks Online is my go-to accounting software. Get the best discount possible (30% off for 12 months) when you buy with my affiliate link below, through Complete Business Group. Message me at [email protected] with any questions regarding signing up.
SIGN UP FOR QUICKBOOKS ONLINE

My favorite budgeting app w/ an amazing free version:
EVERY DOLLAR BUDGETING APP

My preferred business credit card with cash rewards (affiliate link):

If you have healthy behaviors around spending with a credit card, this is a great one to use and earn cash back. It also links up well with QuickBooks Online. If you have unhealthy spending habits with credit cards, please avoid using one! You need to be able to pay it off monthly and not carry a balance. I use this one for my business and it makes

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Disclaimer: This content is for educational and informational purposes only. Please consult with an accounting professional for direct advice based on your specific business situation.