EP150 The Top 3 Biz Money Mistakes to Avoid

Do you run your business from your bank account? Maybe you combine your business and personal expenses? If this sounds like you, you may be making some of the most commonly made mistakes in the business world. Today I will be sharing how to avoid these mistakes and how to improve your role as a business owner.

Listen in as I explain the importance of checking your finances once a month, instead of leaving it until the yearly end review. You will learn how to be responsible with your money, the importance of learning from your mistakes, and how to start new routines that will prepare your business for the future.

“You need to have access to your numbers on a monthly basis.” – Tracey Bissett

This Week on Young Money:

• The top business mistakes made by business owners.
• Why you need to keep business and personal finances separate.
• The importance of being responsible with your money.
• How to start new routines that will support your business in the future.
• Why you should be checking your finances once a month.

Key takeaways:

1. Keep up to date with your finances.
2. Business and personal finances must remain separate.
3. Review your finances.
4. Learn from your mistakes.

Resources Mentioned:

• Cash Control Bootcamp
• Student Podcasts

This episode is powered by the Cash Control Bootcamp:

Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand the cash flow cycle and how to manage the cash flow in your business. To help you learn those critical skills I have developed the Cash Control Bootcamp. The Cash Control Bootcamp is an introductory live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp – Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register today here. 

 

The Young Money Scholarship Fund

Education has the power to help you achieve your life goals and create a financial fortress. It takes money from many different sources to pay for it.

The Young Money Scholarship Fund has been established to help post secondary students achieve their goals by removing some of the financial strain from the equation.  This fund is powered by Bissett Financial Fitness Inc. Scholarship awards start at $250 per student.

Who can apply?

• Post secondary students studying in Canada, excluding Quebec residents
• Students who have helped others achieve their goals
• Students who have a plan for what they will do when they graduate

Apply today or share with a post secondary student who should apply,  here!

 

Rate, Share & Inspire Other Young Millionaires-in-the-Making 

Thanks for tuning into the Young Money Podcast – the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.

Don’t forget to share your favorite episodes on social media! 

Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.

Check out this episode!