Managing your money and budgeting whether be your personal or your business can be a daunting task. Good money management can mean many things: living within your means, saving for the future, or having a financially strong business. To have a realistic plan and to meet your financial goals you need to set up a budget, have a clear understanding of where your money goes each month and adjust spending’s where and when needed.

Let’s start from the top – if you want to get on top of your finances, a budget is a really good way to start. This is simply a record of money you have coming in and payments that you make. (Such as rent, insurance, taxes, operating or living expenses, etc.) There are many great online budget planners that allow you to record all of your incomings and outgoings. You can save your budget and return to update them at any time. Note – if you find you’re spending more each month than you are bringing in, the next step is to look more closely at where your money is going and where you can cut back or make adjustments to spending.

Next you will want to make certain you have clearly defined financial goals. How much do you need to earn each month to live the lifestyle you dreamed of having? Or if you are a salon/spa owner, what percent of net profit do you want your business to have at the end of each month, quarter or year?

Once you have a clear picture of what you want your financial future to look like, it’s time to hold yourself accountable. Achieving your financial goals is more than setting your intention, you must hold yourself accountable. Track your numbers on a daily basis. There are many tools available to assist you in tracking your daily numbers the key is to find one that works best for you!

The only way you can manage your money is to have control of it. Have a clear picture of where you’re spending it and how much you have available.