The word “budget” was never much in my vocabulary until the last year or so. I struggled with math in school (and, therefore, other subjects that relied on math, such as statistics and economics), and budgeting just never quite made sense in my mind. I remember when my husband sat me down and adapted his budget spreadsheet in Excel to make a new version for me, and it was just…over my head. I’ve never been as good with money as I could be, but I’m not financially irresponsible, so I always managed to scrape by. Then, I learned about You Need a Budget* (also known as YNAB) – I don’t even remember how anymore – and decided to give it a try.
I don’t think I’m in the minority when I say that 2017 was a pretty challenging year for me, both in my personal life and in my business life. During late fall/early winter in 2016, I was happily planning ahead for 2017 – with the help of Amber McCue’s Planathon event – and setting goals for the year (for my business – I’ve never been too big on New Year’s resolutions and things like that). Into the first…oh, I don’t know, at least quarter of the year, this kind of optimism about how the year would go – my first full year working from home full-time – persisted. But then, around May or June, things started to go a bit downhill.
You started your business because you were passionate about your idea, or because you saw a hole in the market that you could fill, or because you want to change the world. (Hey, I’m not judging!) That’s pretty freaking awesome, but…there’s more to running a business than just executing your idea. That’s why I’m here with this post to talk about how I set up my business finances!