Sometimes it can be really difficult playing catchup. Running a business can have you hand to mouth for ages. We are so grateful that we are getting the business, We just need to pay the bill and start a new month. But if you fall behind with, like a tax bill, you can get caught in a cycle of debt that is quite difficult to get out of. So now you need to pay the current bill (which is running late) plus it would be a good idea to start saving for the next bill that you know is coming. Realising you don’t have much put away for these event is not good.
We do wonder sometimes what would happen if you started to put some money aside with a regular structure. You should filter some money away into a savings account. Without a financial structure you are lightly to discontinue saving when times get tough. Try it, When you receive payment or prepare your invoice, put away a small amount. In the early days, you may be tempted to keep looking into this account and fantasising the things with you could do with the extra cash. This will soon fade. Getting a head start on incoming bills feels great, even if you have a few months taking money out of the account, Replacing it will feel even better. You are now showing control. You haven’t missed the money that badly, cut back on the things you waste money on or purchase for comfort.
Make a list of you’re outgoing, where you can make savings ? Can you change a service provider ? Can you cancel a service that you don’t use that much, replacing it with something else ?
There is (n most situations ) room for change.
Just by looking into your finance with a view to change puts you in a better financial position for change.
Founder of the Mine Your app