Create a working budget to relieve your money stress
How to stay above water when you're in lean times money-wise, and determined to make your life/business happen!
I have opened a new retail space, which takes time to be profitable (on average it can take two to three years). In order to balance the store and my home (including my mortgage, heat, hydro, food, repairs, personal living expenses) as a single person with minimal income, I have to create a working budget and be mindful of every payment that I make.
I also have very high ethics:
- I am unwilling to charge people more than what I feel is fair, based on the cost of the items I receive, and what the in-store practitioners make for offering their services.
- I try to get my customers the best deal, when I see what they are purchasing could be turned into a combo, which benefits the customer and the practitioner, even if that means my financial compensation is lower.
- I am also adamant about supporting local artists, which is not always the most cost-effective route, but it is part of the core values of my business. Creating community!
I am not in the perfect money situation right now, and that is why I think this is the perfect time to share my wisdom. Because I am in it with you, and would never think myself above you.
That said, I have always been able to make whatever I have, money-wise, sustain me and my family. Starting as a single teenage mom on social assistance, and now I own a store. Who would have thought this would be possible? ME!
And you can do it too!
Here are the types of things I can teach you about money:
- Keeping on top of your budget
- Being mindful of what is in your bank account, and what income is coming, so you can be ahead of it
- Knowing how to move your money around, so you have some room to play
- Dispelling the illusion of "extra money"
- Balancing your payments to relieve your stress
- Maxing out TSFA and other government benefits
- Building your rainy day bank account
- Finding breathing room, so your dreams can come true!
- Forget about putting aside 10% of your income for when you retire. Use 10% of your income wisely, so that it is there, when you need to draw on it
- How to make sure you don't become paralyzed and can make it to the next month, even if you have a large unexpected expense.
Send me your questions and I'll build you a workshop!
I look forward to getting you on track, so together, we can stay afloat, while we deliver our service to others and make our dreams come true!
Teamwork! We can do this, together!
Photo by rawpixel on Unsplash
Owner of The Mystic Tree