4.6 • 682 Ratings
🗓️ 1 April 2024
⏱️ 10 minutes
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0:00.0 | Brought to you by the Every Dollar app. Start budgeting for free today. So I've been working for a |
0:09.4 | service business for about, give or take six years back in 2010. I opened my own in about 2016, |
0:18.6 | you know, trying to expand my income. |
0:23.6 | Transitioned from a service company to a construction company. |
0:27.6 | And in the meantime, got married, built a family. |
0:30.6 | My question is as follows. |
0:32.6 | I have now just started calculating my budget and I figured out that I, um, either need |
0:41.4 | to address my personal income and expenses or change the, uh, business kind of model to, um, |
0:52.6 | to be able to match my personal income. Essentially, I'm paying myself from the business, to, um, to be able to match my personal income. |
0:55.4 | Essentially, I'm paying myself from the business, but not enough. |
0:58.9 | They're not matching up. |
1:00.0 | Yeah. |
1:00.7 | Yeah. |
1:00.9 | So how much do you pay yourself from the business? |
1:04.0 | Well, I don't. |
1:05.0 | That's, that's the biggest problem. |
1:06.2 | I've been mixing personal and business expenses since I started being, |
1:09.9 | I didn't know anything about business. |
1:11.8 | I just knew what I was providing the service. |
1:15.0 | Now I'm looking now to separate the two and how much do I pay myself? |
1:21.5 | Do I pay myself what my personal budget is needing or do I pay myself what my business can |
1:26.4 | handle? |
... |
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