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Roundup: At Peace With Money’s Best Educational Posts to Level Up Your Financial Learning

By |2021-04-08T14:38:50-07:00October 29th, 2020|Categories: Personal Savings, Personal Spending, Small Business, solopreneurs|Tags: , , , , , , , , , , , , |

This week, please enjoy a roundup of some of my best educational posts yet. I’m getting close to my two-year blogging anniversary! In that time I’ve written up quite a few how-to’s, exercises, and perspective pieces on handling money. Below, I’ve pulled out some of my favorites, in the categories of business finance and personal finance.  I’m recommending these articles in particular because they contain foundational info that informs my practice as a profitability coach. The tips and perspectives that I blog about here are tried and true. I share them because they make a huge difference to my clients, just as I hope they’ll make a difference for you! If you’re looking to kick your financial learning into high-gear, let these resources be your guides:

Personal Finance Articles

Business Finance Articles

Suggested Readings – My Favorite Financial Books

I hope these posts are helpful for you! I find that the practice of writing a blog has been a great practice in building up an archive of knowledge – one that I hope is just as helpful for you as it is for my clients.

☮

Angela

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Reduce the Hassle: 3 Tips to Keep Your Money System Simple

By |2020-01-27T21:52:59-08:00January 27th, 2020|Categories: Banking, Financial Clarity, Small Business|Tags: , , , , , , , , , |

When I work with small business owners I often run see this one unfortunate pattern; many business owners believe that your money system has to be complex in order to work. The reality, however, couldn’t be further from that. We’ve already talked about how important having a money system is, and how to visualize it with money-mapping. Keeping your money system simple and streamlined makes it easier to visualize, but also much easier to follow through on and keep organized. If a system requires a bunch of checking in or spreads your money into a bunch of accounts you forget about, it’s not worth the maintenance. Here are three strategies you can use to pare down your business’s money system to a manageable size.

Limit Your Cards

If you’ve got a ton of cards under your business, keeping track of all of them and keeping them paid off can be difficult. To make it easier on you, I suggest paring down the number of cards you use. This will help you better keep track of your bills, credit rewards, and any other info associated with your cards.

Please note, I’m not advocating for closing any of your credit cards, as this can lead to a lowering of your credit score. However, here’s a good guide on how to do that, if you’re interested.

Under One Roof

One recommendation I regularly make to my clients is to consolidate their money into one institutions. If you have business bank accounts at three, four, or five different banks, that’s gotta be hard to stay on top of! Getting it all under one roof will help you keep an eye on your finances as a whole more easily. If you have multiple banks and you’re wondering how to go about consolidating, you might like to read this piece about switching banks we featured a couple years ago. It contains a guide to comparing banking offers and picking to the best option.

Keep Track

Making a regular habit of checking in with your finances. Make this easy by consolidating your passwords to your different accounts and portals. If you don’t have to go searching for passwords before you begin your checkin, you’re way more likely to actually do it!

I also recommend using an app or other tracking system. I especially like Mint.Others also like YNAB, or paper money tracking. Digitally tracking your money can save you some time, while also giving you a quick snapshot of your accounts when you need it.

If you found these tips helpful, you might also like this article on automation, which is another money hack to keep your systems tidy!

☮

Angela

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Estimated Taxes: A Complete Guide for the Small Business Owner

By |2023-03-28T17:24:35-07:00March 28th, 2023|Categories: Bookkeeping Business, Small Business|Tags: , , , , |

What are estimated taxes?

Estimated taxes, which are also called estimates or quarterly taxes, are basically the IRS’s way of collecting tax on the money that self-employed people and small businesses earn throughout the year. Since you’re not an employee with tax withholding taken out of your paycheck, estimated taxes are the DIY version of this. 

The payments are made throughout the year and they go toward your final tax bill. Think of these payments as estimated installments. The great thing about paying in installments is that your tax bill is spread throughout the year, making it easier on your finances than one big payment!

Who has to pay?

According to the IRS, “Individuals, including sole proprietors, partners, and S corporation shareholders, generally have to make estimated tax payments if they expect to owe tax of $1,000 or more when their return is filed.”

Generally, if your business is relatively profitable and you are self-employed, you can bank on paying estimated taxes. 

How do they work?

You make four payments at four different times throughout the year. At the end of the year, you file your taxes. Once you do this, you find out how much you owe, and whether you under- or over-paid in your installment payments. 

If you underpaid, you need to pay to make up the difference at tax time. If you overpaid, you can opt for a refund, or apply the overage to your next installment. 

How much do I owe?

The first option is to base your payments on the previous year’s taxes. After filing, you should receive a form that tells you how much your installments should be. This works well if you have consistent income year to year. 

However, many people experience fluctuations in income. If this is the case for you, calculating your payments in real time is a better option. This can help you avoid vastly underpaying on your installment payments and ending up with a huge bill at tax time. 

How do you calculate in real-time? First, figure out your net income for the period of your estimated taxes. If you use bookkeeping software, you can run a Profit & Loss report to figure this out. If you don’t, subtract your expenses from your total revenue, like this: 

Revenue – Expenses = Net Income

Next, divide your net income by 30%. You might ask, why so high? 

A portion of your estimated tax payments cover your self-employment tax, which is 15.3% (read more on the IRS website). Your payments also cover your income tax. Your exact income tax will depend on your tax bracket, but 15% is a good estimate for most people. If you use Profit First or money mapping, then this is the amount that you save in your tax account. 

However, if you know you’re in a higher (or lower) tax bracket, you can adjust your percentage accordingly. For people in higher brackets, try dividing by 35% instead. For people in lower brackets, 25% may suffice. 

Let’s look at an example: A photographer has a net income of $20,000 for the first quarter of the year. They divide their net income by by 30% and get $6,000. That’s their estimated tax payment for the first quarter. 

$20,000 x .30 = $6,000

You might be wondering how somebody can make sure they have $6,000 laying around every quarter. The answer is to save for your taxes incrementally. 

This is where a strong money system comes in. The Profit First methodology and money mapping are both methods of ensuring that you’re regularly saving for taxes, ideally every month. 

How much should you save each month? We recommend saving 10-15% of all revenue and setting it aside in a separate account.  If you are just getting started and this doesn’t feel feasible, even 5% will help you avoid the surprise of a large tax bill.

When the quarterly deadline rolls around, all you need to do is transfer the money in this account into your checking account and make your payment. 

How to pay?

You can pay online or write a check. Here’s more information from the Franchise Tax Board (California-specific) and the IRS. 

When are payments due? 

It’s important to pay estimated taxes on or before the due date. Otherwise, you may receive a penalty. 

Check with your state requirements to see when your payments are due and how much they should be (in terms of percentage of your income). If you are in California, I have the Franchise Tax Board link for you right here. 

Want further reading? Here are two great articles I recommend for further reading and resources: 

You can also get in touch and schedule a free 15-minute Financial Self Care Consultation with me if you’d like to work with a guide to get your business finances on track. 

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Why Your Payment Processing Software Is Only Telling You Half the Story

By |2022-04-21T19:15:26-07:00April 21st, 2022|Categories: Cash Flow, Financial Clarity, Small Business|Tags: , , , |

Payment processing softwares – like Square or Stripe – are a very important tool for any small business owner who does business online. But they’re not telling you everything you need to know about your business finances. Check in with your business’s money system, and make sure you’re getting the full picture by looking beyond your payment processing reports.

Only Half the Story

Payment processing software is an incredibly useful tool. Your payment processing landing page might also be a place you visit often. Perhaps you check in once a week as part of your weekly money check-in. It’s fun to see the money roll in!

However, checking those numbers is not all you need to do. When you see the income your business is making as its reported by your payment processor, it’s important to remember that your profit and your personal paycheck are going to be different numbers altogether. Why is this? Because although your payment processor does a great job reporting your income, it shows you nothing about your expenses.

Get Clear on Your Expenses

Instead of stopping after looking at your income every week, the next step is to get clear on your expenses. I’d like to add that both your savings for taxes and your operating expenses are important to account for during this step, as they are both things you’ll want to put some of that income towards.

For more ideas about thinking more holistically about your money as a system and getting clear on how much money your business is really making, I’d recommend reading my series on money mapping. You can start here.

If you enjoyed this article, sign up for my newsletter so you never miss a post. Along with weekly blog updates, you’ll also receive my special monthly tailored newsletter. Click below to join us, it’s a good place to be.

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Use Clear Record-Keeping To Amplify Your Business Profits: Here’s How

By |2022-01-12T10:32:45-08:00September 17th, 2021|Categories: Bookkeeping Business, Small Business|Tags: , , , , , , |

You’ve probably heard the saying, “Where attention goes, energy flows.” This quote, which I first heard from Michael Bernard Beckwith, perfectly describes the relationship between you and your finances. The more you pay attention to them, the more you will see growth and change. I’ve seen this happen with clients over and over.

This is especially the case with record-keeping. Regularly tending to an organized bookkeeping system for your business will have a positive impact on your bottom line. This is something you see the best results with if you stick with it long-term. It requires effort on the front end to set up a system that works for you. And, it’s absolutely worth it. Let’s talk about the how and the why of clear record-keeping.

How Do I Keep Clear Records?

First, separate your business finances from your personal finances. There are many excellent reasons to do this, and two different methods that I recommend to clients based on the size of their business. You can read all about that here.

Next, set up a system. You might think this just means finding some record-keeping software, but we’ll get to that in a minute. Your software is just one part of your larger money system. What you want to do at this stage is set up a money map to help you visualize where money goes in your business. You can read my full series on money mapping here.

Once you’ve visualized and established an overall flow of money in your business, get into the nitty gritty and set up your software. My top two recommendations for business tracking are MoneyGrit.(R) and QuickBooks Online. I wrote a longer post comparing softwares that you can read here to get more info about both.

Finally, I highly recommend consulting with a professional to review your system and make sure everything is set up properly. Reviewing your books with a bookkeeper a few times a year can also be beneficial. You can read my article on working with a bookkeeper to learn more.

Now that we’re clear on the how, let’s talk about why prioritizing clear record-keeping can benefit your business.

Analyze Your Data

Your financial record-keeping is a data source in your business. By having clear records, you can start to trace the revenue trends in your business. You can use this data to analyze what offerings are the most profitable, and what expenses bring you the best returns. If you want to know more about this, read my article on how to focus your offerings to create more revenue.

Reduce Stress at Tax Time

Besides offering you key insights that can help you create a more profitable business, clear record-keeping also makes all your necessary tax-time info readily available. This can be a time- and money-saver, because you don’t have to hire someone else to untangle your mess at the last minute. Besides those obvious savings, the value of reducing your stress is also not to be underestimated!

If you appreciated learning about clear-record keeping and want to take the next step in setting up your system, you might consider working with me to do a Quickbooks training. I love working with solopreneurs to make sure they are set up for success. Schedule a free Financial Self Care Consultation here!

☮

Angela

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How to Use Your Profits to Create the Generous Business You Envision

By |2021-06-25T12:38:43-07:00June 25th, 2021|Categories: Small Business, solopreneurs|Tags: , , , , , , , , , , , |

I’m a big proponent for using a money system in your business for many reasons. One of those is the way it can make giving away money, or donating, so much easier. Today, we’re focusing on how to use your profits to be able to give freely in your business. In my series on money mapping, I wrote about setting up a profit account like the Profit First system suggests. I’ve also written about how you might use that profit account to donate money. This post will be a more in-depth exploration of those concepts, so go ahead and read those posts if you haven’t already!

When it Comes to Profit, Values are Key

In my post “The In-Depth Guide to Mapping Your Money, and How it Can Fortify Your Business, Part II,” I describe the profit account in a money system this way:

The profit account accumulates and then is distributed quarterly. Business owners are encouraged to use their Profit Distributions to reward themselves for their hard work. This keeps the owner excited about and invested in the business. It also discourages any tendency to reinvest everything back into the business, or over-save.  Rewards can range from a day out to charitable giving, to really anything you want!

Note that last bit: charitable giving. Recently, I’ve made a couple posts about how to figure out what we really want to spend our money on. It has to do with our values – when we know what’s really valuable to us and we think about how to get that, we can spend our money in ways that are the most purposeful and fulfilling to us. We can spend in a way that brings us that feeling of “enough.”

Lynne Twist, author of The Soul of Money, describes this phenomenon this way: “When people were able to align their money with their deepest, most soulful interests and commitments, their relationship with money became a place where profound and lasting transformation could occur.” Imagine doing this every quarter with your quarterly profit distribution! To create a generous business and get the most satisfaction from your profits, I encourage you to engage in some soul searching. Think about what the word “generous” means to you and what you might do with your money to embody this word.

Generosity Creates Relationships

One suggestion I’d like to make here, is sharing your profit distribution in the form of bonuses for any employees or independent contractors you work with. Appreciate the work they do by sharing your profits. Receiving their thanks and building up a relationship of mutual appreciation can be one of the most satisfying ways to use your profit distribution. It can also improve the overall quality of your work life! Because I advise clients to use the money accumulated in their profit account every quarter, the last distribution of the year comes up during the holidays. This is the perfect time to show employees some appreciation.

Be Community-Oriented

The past year and a half gave us more opportunities than ever to show up for our community as small business owners. I encourage you to think about organizations in your local community or on a larger level that you would like to show visible support for with your business. I wrote a post about thinking about your business’s role in your community called “How to Step Up for Your Community as a Business Owner,” that you might like to read to get some more thoughts on this subject.

I hope this post inspires you to be generous this summer! If you would like to work with someone to develop a money system which enables you to feel abundant and be generous, schedule a Financial Self Care Consultation call with me. I’m happy to chat and see if we can work together.

☮

Angela

Image: Elaine Casap

This blog post is a re-publishing of the original article, “How to Create a Generous Business,” published in November 2020. For more articles on this topic, check out the “giving” tag. 

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Boost Your Social Impact With the Power of Belief

By |2021-06-17T11:32:21-07:00June 8th, 2021|Categories: Money Mindset, Small Business, solopreneurs|Tags: , , , , , , , , |

I’ll get straight to the point – what you do with your business and your money matters. A year ago, protests against racist policing and in support of Black lives erupted around the country. Today, we can reflect on those moments and think about the impacts they had, like the conviction of Derek Chauvin and the reduction of police budgets in more than 20 major cities, and look to the future to see how we might add to the movement ourselves.

Typically on this blog, I share practical tips related to giving, like how to use money mapping to give back and tips for stepping up for your community as a business owner. Instead, this article approaches the issue from a mindset-centered perspective. Many of us feel discouraged when it comes to thinking about social change. However, it is important for us to stay in touch with the belief that we really can make a difference. Internalizing this is the first step when it comes to making social impact with your business. Here are a couple tips on this subject:

Reclaim Your Power

When world and community issues are displayed to us on the news, they can feel huge and overwhelming. At this point, many of us feel helpless – while we might be able to imagine alternatives a better world, who are we to bring it about? The world’s problems are so big, and we feel very small.

This is where we need to reclaim our power. It’s important to recognize that while you may not be able to Wonder Woman the world’s woes away, you are capable of making a positive difference in the world. You can plant flowers, donate, fundraise, deliver and inspiring speech, cook a delicious meal for hungry people, and so on. Even better, your power is multiplied when you join up with other people who also wish to create positive social change.

Get Clarity On Your Values and Your Money

One thing that might be feeding a sense of powerlessness in your life is a lack of clarity with your values and your money. If you feel strongly about social issues, but your schedule, income goals, and spending plan don’t reflect that, it’s time to go back to the drawing board.

If you’d like to have more time to volunteer, or more money to pass on as reparations, think of ways you can incorporate these considerations into your schedule and finances, while still caring for yourself. You are in charge of all of these resources. How would you like to allocate them?

See Yourself In Your Context

If you want to use your business to make positive change but you aren’t sure where to start, look around you. Who is your community? Who surrounds you, locally, in your industry, in your interests and organizations? When you take a look, surely you can start to see creative ways you and your business can help fill a need or brighten a day.

There might be local issues you’re passionate about, and there are likely organizations already doing work to improve the issues who would love your help or expertise. The same goes for your industry or a group you might belong to, like your church.

Remember the Butterfly Effect

The Butterfly Effect dictates that small events have a rippling effect that can cause much larger events to occur. While you may feel that your contribution to the world is small, what you do ripples out. I love this quote from author and activist Grace Lee Boggs, who says, “We never know how our small activities will affect others through the invisible fabric of our connectedness. In this exquisitely connected world, it’s never a question of ‘critical mass.’ It is always about critical connections.”

Next week, we’ll look at some of the more practical aspects of giving when it comes to your finances. For now, I hope these suggestions inspired you and gave you a couple ideas.

☮

Angela

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Resources

By |2021-03-15T23:02:22-07:00March 15th, 2021|

Get paid by your business
and make confident money decisions

Schedule a call
Money Mapping Allocations Calculator

To use this money mapping allocations calculator, simply plug in your income and materials/subcontractor costs, and play with different percentages. To learn more about money mapping and how to figure out your ideal percentages, read this blog post.

Income

Real Revenue

(Materials & Subcontractors)

Allocations

Total

Results

Transfer Remaining

Schedule a complimentary call to learn more.

Schedule a Call

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Personal Financial Coaching

By |2021-03-15T23:22:49-07:00February 10th, 2021|

Get paid by your business
and make confident money decisions

Schedule a call

Your business exists to fill your personal needs.
You started it to support yourself and fulfill a dream.

Perhaps you aren’t clear whether your business is actually helping you reach that dream. The finances might be so murky that you aren’t sure where your money is going, and what your monthly costs really are. Oftentimes, clients come to me because they are feeling burnt out from hustling to keep themselves above water financially. Developing financial clarity around your spending and identifying an inspiring income target can free you from the cycle of worry and overwork, and transform your relationship with your business.

Personal financial coaching is an excellent option for small business owners who are looking to create financial growth in their personal lives. These private 1:1 sessions are designed to support your integration of financial self care into your lifestyle. Through our work together, we will take stock of your values, set goals, and create a personal financial system that helps you create the fulfilled, stress-free life you are fully deserving of.

Personal financial coaching is perfect for someone who wants to work with an expert guide to:

  • Uncover your personal financial values
  • Establish inspiring personal financial goals based on your values
  • Align your life goals with your business profits
  • Redesign your personal spending plan to give you freedom and confidence
  • Plan for emergency & periodic expenses, so you’re prepared, even with fluctuating revenue in your business
  • Create a roadmap to meet your savings and debt repayment goals
  • Determine the income target you need to make your business support your life

Sessions are offered over Zoom on an as-needed basis, meaning you can book as many or as few sessions as you like. As you learn more about your current financial standing, you can shape the length of our work together according to your needs. There are reduced fee options available for our sessions that can be negotiated on an as needed basis.

If you’re ready to begin the next step of this transformational work, you can click the button below to schedule your free Financial Self Care Consultation.

Schedule a call

“In just a few months, I was able to separate my personal & business finances, open an IRA, and manage my money better with the Profit First system. Angela has helped give me peace of mind about where my money is going, and I’m not worried about surprise expenses or taxes at the end of the year!”

Bri Crabtree, Independent Performer

“I highly recommend Angela. She is a great ally and resource for entrepreneurs.”

Therese Kollerer, Lexington Capital Management

“I needed an in-depth training on QuickBooks and best practices in bookkeeping. Angela was a patient and skilled teacher. I left our appointment feeling informed and on top of all my accounts.”

Nina Hersher, CEO, Nourishing Habits™, Digital Wellness Collective

“She is very experienced with Quickbooks and has helped me set-up QBO for a business that has multiple lines of revenue and expense classes, as well as 1099 contractors.”

Sue Landaiche, CCC Consulting

“Angela introduced a cash flow system that over the past 3 years, has helped our company revenues grow by 50% while our profits have tripled. But even more importantly, I no longer lose sleep at night worrying about the finances of the business.”

Jeff, Owner, JR Construction

Personal Financial Coaching FAQ

Why would I need a personal financial coach?

You may need coaching if you are currently dissatisfied with your income, your progress or your understanding of your finances.  Coaching can help you clarify your goals and create a roadmap to make those goals a reality while supporting you in your journey. Paying for financial coaching is like paying to learn any other skill. You may have a talent or technical skill that’s important for the business you offer, but your skills in managing, planning and understanding how to create the financial life you desire through your business may need more development. Coaching provides a space for that development as we map out a path towards your most profitable business and fulfilled life together. For more thoughts here, feel free to read my article “Why Hiring a Financial Coach is Worth It.”

My business has a money system, can I apply a money system to my personal life?

Yes! I actually got started with personal financial coaching because my clients were seeing such success in their business finances, and they wanted to know how they could apply the same principles to their personal finances. My work in this realm frequently involves helping business owners integrate their personal and business finances. In my blog posts on money mapping, I go in depth on visualizing how your business and personal finances relate. In our work together, we can spend time creating a system for your personal finances that can interconnect with the system you already have in place with your business.

I notice you distinguish between “emergency expenses” and “periodic expenses.” What’s the difference?

The term “emergency expenses” is widely used but somewhat misleading. I am a Certified Financial Recovery Counselor (SM) through Karen McCall’s Financial Recovery Institute, which teaches that your emergency savings are designated for use only in job-loss emergencies to spend as income replacement. “Periodic expenses” describes the sometimes foreseeable, sometimes unexpected expenses that come up on a less-than-monthly basis, such as semi-annual property taxes, school supplies, car maintenance, etc. By anticipating some of these expenses and setting aside money explicitly for them, you can avoid touching your emergency fund and plan proactively for life’s surprises.

I’m self-employed and unsure whether I should focus on my business or personal finances. What should I do?

In our initial Financial Self Care Consultation, we will be able to pinpoint what areas of work feel best for us to focus on. I also offer a 6 month Profit Coaching Engagement which addresses both the business and personal aspects of financial wellbeing. Read more about this offering and find out whether it’s right for you. 

My income fluctuates a lot because I am self employed. How can I really even make a personal spending plan?

In this case, making a spending plan is especially important. Though many people find fluctuating income to be a challenge to making a financial plan, creating one can actually add more structure and create stability in your finances. Through our work together, we also review patterns in your income to better anticipate and iron out the fluctuations to ensure your comfort and financial security throughout the year.

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Profitability Coaching Description

By |2023-06-09T13:36:29-07:00February 10th, 2021|

Get paid by your business
and make confident money decisions

Schedule a call
Profitability Coaching can take your confidence in money management to the next level.

Profitability coaching sessions are offered on an as-needed basis, with or without bookkeeping. I’ve had many clients that have a bookkeeping system that is working for them, but they feel they are lacking some guidance around a consistent system for paying themselves or meeting financial goals.

Having the support to get clear on your goals and establish a system of support can make a world of difference, to your business and your life.

Profitability coaching sessions are designed to help you align your business profits with your goals, minimize financial stress, and create a fulfilled life.

Profitability Coaching Details

These sessions are ideal for someone who is interested in taming money stress in their business and implementing a long term money system to increase its profitability. You can use a profitability coaching session to:

  • Clarify your business financial goals and set a course to reach them
  • Analyze your business’s past performance to determine its current health and most profitable offerings
  • Implement the Profit First system in your business with full assistance setting up accounts and allocation percentages that are appropriate for your business and financial goals
  • Create a money system that helps you save for taxes and run your business without money stress
  • Get paid by your business on a regular basis! 
  • Design a tailored spending plan for your business to maximize profitability
  • Uncover your personal financial values
  • Establish inspiring personal financial goals based on your values
  • Redesign your personal spending plan and evaluate periodic expenses, so you’re prepared, even with fluctuating revenue in your business
  • Create a roadmap to meet your savings or debt repayment goals
  • Determine the income target you need to make your business support your life

If you’re ready to begin the next step of this transformational work, you can click the button below to schedule your free Financial Strategy Consultation.

Schedule a call

“In just a few months, I was able to separate my personal & business finances, open an IRA, and manage my money better with the Profit First system. Angela has helped give me peace of mind about where my money is going, and I’m not worried about surprise expenses or taxes at the end of the year!”

Bri Crabtree, Independent Performer

“I highly recommend Angela. She is a great ally and resource for entrepreneurs.”

Therese Kollerer, Lexington Capital Management

“I needed an in-depth training on QuickBooks and best practices in bookkeeping. Angela was a patient and skilled teacher. I left our appointment feeling informed and on top of all my accounts.”

Nina Hersher, CEO, Nourishing Habits™, Digital Wellness Collective

“She is very experienced with Quickbooks and has helped me set-up QBO for a business that has multiple lines of revenue and expense classes, as well as 1099 contractors.”

Sue Landaiche, CCC Consulting

“Angela introduced a cash flow system that over the past 3 years, has helped our company revenues grow by 50% while our profits have tripled. But even more importantly, I no longer lose sleep at night worrying about the finances of the business.”

Jeff, Owner, JR Construction

Profitability Coaching Frequently Asked Questions

Can I sign up for bookkeeping without coaching? What about coaching without bookkeeping? 

Yes! The two services are separate. People frequently come to me looking for one or the other, so they are separated into two different offerings. You are not obligated to sign up for one to receive the other. 

What’s the difference between the bookkeeping and the coaching? 

Bookkeeping will give you a better understanding of your business finances and the security of having accurate numbers.  Coaching will define your financial goals, improve your confidence around your money and give you tools for better planning so that your business serves your life by meeting your personal financial goals.

Why would I need coaching? Why would I pay for it? 

You may need coaching if you are currently dissatisfied with your income, your progress or your understanding of your finances.  Coaching can help you clarify your goals and create a roadmap to make those goals a reality while supporting you in your journey. Paying for financial coaching is like paying to learn any other skill.  You may have a talent or technical skill that’s important for the business you offer, but your skills in managing, planning and understanding how to create the financial life you desire through your business may need more development. Coaching provides a space for that development as we map out a path towards your most profitable business and fulfilled life together. For more thoughts here, feel free to read my article “Why Hiring a Financial Coach is Worth It.”

Do you have a process/program for coaching?

When we work together, our meetings are a safe, confidential and non-judgemental space to discuss your financial situation. At the outset, we may analyze your current financial health and make recommendations on how to move forward in a healthier way. Based on this, we can then work together to create and set up a money system, which we visualize using money mapping. You’ll notice I keep writing “we” – that’s because this process is fully collaborative. It requires your attention, participation, and action to truly yield results. If appropriate to your session, I will introduce tools to help you start and maintain your financial systems. My favorites that we tend to work with are MoneyGrit.(R) for personal finances and solopreneurs, and/or QuickBooks Online for small businesses. These tools help to carry you forward after our work together concludes.

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