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When Is the Right Time to Invest In Your Dreams?

By |2021-07-08T11:08:48-07:00July 8th, 2021|Categories: Financial Clarity, Small Business, solopreneurs|Tags: , , , , , , |

Whether you’re wanting to quit your day job and go full time in your business, invest in some equipment to level up your production, or get a higher level of education in your field, all of us face choices about when to invest in our dreams. Let’s talk about how to make these decisions from a financial perspective.

Consider Your Timing

First, establish a timeline for yourself on making this investment. By when would you like to start your training, hire an employee, etc? Now, think realistically about other events and expenses that may come up around that time. For example, making a large equipment purchase around the holiday season may prove to be financially stressful. By analyzing your timeline and any upcoming expenses, you can plan to have the funds and energy on hand to take this new leap.

Establish a Savings Cushion

Especially because these decisions are typically financially loaded, it’s important to already have, or begin to cultivate, a multi-layered savings cushion. Ideally, you have a savings cushion to cover periodic expenses, and another to cover income-loss emergencies, typically an amount to cover 3-12 months of your expenses saved up. You can read more about establishing a savings cushion in my article “How to Plan for Surprise Expenses“. Take a look at these ideas and then make a plan to establish a savings cushion before taking your big step.

Tune Up Your Money System

This is a good idea whenever you’re making any financial decision. Take a look at your income and expenses and see how things are going with your savings. Making a regular habit of doing this is immensely helpful and can simplify financial decisions like this one. My e-Book 9 Secrets to Financial Self Care has a lot of great insights on how to establish a habit of checking in with your money.

If you have yet to set up a money system, you might like to check out my articles on money-mapping. “The 4 Components of a Restorative Money System” is a great place to start.

I hope these suggestions are helpful and that your decisions making process is a peaceful one!

☮

Angela

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3 Simple Tips to Infuse Financial Self Care Into Your Routine

By |2021-04-08T14:00:54-07:00December 23rd, 2020|Categories: Financial Clarity, Money Mindset|Tags: , , , , , , , , , |

When you first decide you want to put effort and intention into your finances, it can be hard to know where to start. Especially as a business owner, you already wear many hats. You have a lot to do, and whatever you add to your plate needs to be simple. I’ve got you covered. Here are three ideas for infusing some financial self care into your work routine.

Organize Your Passwords

If you want to look at your accounts regularly, organize your passwords for easier access! I am a huge advocate for looking at your numbers on a weekly basis. The more you’re checked in with where you and your business are at financially, the better. Taking some time to do this step will simplify the process of working on your finances, and take away some of the hesitation.

Find a Financial Education Resource You Love

…and then stick with it! Whether it’s a podcast, a book, or a YouTube channel, financial education comes in all formats these days. Find a person or resource who really resonates with you. Then, dive deep into what they have to say, and try to integrate that into your life. If you want some guidance around finding sound financial advice, read my guides on some things to look for and how to steer clear of the not-so-helpful stuff.  You can also check out my favorite educational resources. Here’s a list of some of my faves from other sites, and a list of my best educational blog posts.

List Some Action Items

You know your business and personal finances best. Chances are, there are probably already some to-do list items in the realm of your finances. Try jogging your memory for those and writing them down. Perhaps you’ve always wanted to try creating a money map for yourself. Maybe you want to automate all your bill payments. Identify those action items and write them down somewhere you can revisit them.

Next, strategize. How can you get these done? What resources or assistance do you need to do so? Can you divide the tasks into bite-size chunks and work on them piece by piece? Your financial wellbeing is something you can handle – sometimes it just takes some strategy and awareness.

9 Secrets to Financial Self Care Book Cover

I hope you’ve enjoyed these quick tips for financial self care. You might also be interested in downloading my free e-Book, 9 Secrets to Financial Self Care. In this e-Book, I go in-depth into 9 different steps you can take to build a solid financial self care routine for yourself. Try it out by clicking the link above!

☮

Angela

Image by Siora Photography

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Why Your Business And Personal Finances Are Definitely Interrelated

By |2021-04-08T14:43:59-07:00October 8th, 2020|Categories: Financial Clarity, Personal Savings, Personal Spending, Small Business|Tags: , , , , , , , |

Perhaps it seems like a no-brainer, but it’s important for business owners to keep in mind: Business and personal finances are intimately related. All of us have personal financial lives, and they dictate what we’re able to do in our business. In the same way, how our business is doing financially vastly informs what we’re doing in our personal financial lives. Today, I’m talking about how the two effect each other and why it’s important to be aware of that.

Where Business and Personal Meet

In the past, I’ve written about the importance of separating the two by opening different accounts. Keeping things separate means more clarity about what’s going on in both financial realms. However, just because you want to look at them separately, doesn’t mean they shouldn’t inform one another. I’m also in support of checking in with your lifestyle costs and making sure your target revenue aligns with those. I’m a firm believer in making sure your lifestyle costs and your life’s goals are the things that inform how much revenue you want your business to take in. 

Many finance and business coaches like to throw out round numbers: “Increase your revenue by $5,000!” “Have your first $100K year!” However, these are more helpful in their marketing schemes, rather than your real life. Personally, I find that when your income goals are directly linked to your lifestyle costs and your long term goals, they have much more meaning to you. Doing the work of figuring out what your costs and goals are also keeps you checked in with where your money is going, and where you are going in your life. The way we spend our money and what we do with it directly correlates with how we treat ourselves. In my mind, a revenue target should be an invitation to self care and personal fulfillment.

Working Backwards

If you’re struggling to picture how your business income goals can be informed by your lifestyle costs, I invite you to try a little exercise. In my money-mapping series, I go in-depth on how to create a money map that encompasses your business earnings and your personal accounts. You can sketch one up for yourself, and then start from the personal end on the right. Total up the amount of money you need for financial goals and living expenses, and then move toward the business end and see whether your business is producing that amount of revenue. A big part of this exercise is actually understanding what your lifestyle costs you – and that’s important to your business finances too!

The Whole Pie

The bottom line here is that it’s important to look at both your personal and your business finances separately, and as they relate to each other. We have to look at the whole pie, so to speak. Many business owners might have one field or the other down pat, but having confidence in both areas takes a bigger understanding of how they work together. If you feel you have a lot of clarity in your business but struggle to pay personal bills, or vice versa, it’s time to take a step back and re-evaluate. The two inform each other.

If you appreciated this post and found the opportunity to think about personal and business finances helpful, you’re in for a treat! I am beginning to add personal financial coaching into my practice, and this month I’m looking for three small business owners to get started working with at a special low introductory fee. If that’s something that interests you, click here to set up a free 30-minute consultation, where we can see if we’d work well together.

☮

Angela

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How To Plan for Surprise Expenses

By |2021-04-08T15:10:30-07:00September 16th, 2020|Categories: Bookkeeping Business, Cash Flow, Small Business, solopreneurs|Tags: , , , , , , , , , , |

Did you have a nasty surprise yesterday with the estimated federal tax payments deadline? Or perhaps in your business you deal with other surprise expenses – things that add up. Worker’s compensation, insurance payments, replacing equipment, etc. can surprise business owners and knock you out of a financial groove very easily. Whether these things are a big issue in your business or not, I’m a huge proponent of planning to address them, just in case. How do we do that? Well, let’s talk ideas: 

Have an Emergency Fund

Having an emergency fund saved for your business can be extremely helpful. Whether a surprise expense comes up, or some other disaster strikes, having between three and twelve month’s worth of expenses set aside is great in a pinch. This strategy can be particularly helpful in emergency situations, but for taxes and other types of expenses that are somewhat predictable, try some of the other strategies below.

Set Up a Money System

If you’re a regular reader, you know how much I love money-mapping. Setting up any kind of money system can help you think more broadly about how much you need to put aside for operating expenses and taxes, well before it’s time to actually pay for those things. Checking out my articles on money-mapping is a good intro to money systems if that’s what you need to get started. If you’re a seasoned veteran with money systems, or have at least tried them before, maybe it’s time to do a business check-in and see where your business is at financially. Assess the situation and make a resiliency plan.

Check In With Your Finances Regularly

Ideally, you have a bookkeeping pro doing this, someone who can regularly look at your numbers and pull out important insights. Or, if you’re doing it on your own, you have someone that you consult with on a semi-regular basis to review your books. Even when you’re not working with a professional, regularly looking at your finances is the way to go if you want to be prepared for surprise expenses. The more aware you are of where your business is financially, the more prepared you will be to deal with an issue when one comes up. I recommend finding a way to make regular intentional time looking at your finances fun, like finding a money buddy or setting money dates.

Note Potential Future Expenses

Take time to think about what potential expenses may arise in the future. Perhaps you use a lot of special equipment in your business, and some of it is getting into disrepair. Maybe you simply have a hard time remembering when insurance or tax payments are due. Take note of all of these things and factor them into your money system or savings plan. Write important due dates on the calendar well ahead of time so you’re aware of them. Have an equipment replacement fund set aside for when your laptop or pottery wheel or farm vehicle finally busts or needs repair. The more you can anticipate these things and incorporate some wiggle room into your money system, the less you’ll be knocked sideways financially when they do come up.

I hope this list has given you some good ideas for dealing with surprise expenses. If you need more ideas about developing financial resilience in your business, check out my free e-book, Cash Flow Reboot Guide: A Guide to Thriving in Uncertain Times.

☮
Angela

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Is Your Business Serving Your Life, Or the Other Way Around?

By |2021-04-09T09:55:13-07:00August 18th, 2020|Categories: Money Mindset, Small Business, solopreneurs|Tags: , , , , , , , , , , |

As a business owner, it can be tough to make sure you don’t get caught up in the hustle all the time. I’ve worked with many business owners whose businesses were definitely the main center of their time and attention, but who weren’t really getting their needs met that way. This is really unfortunate to see, yet so common. Today, I’m going to walk through an exercise you can use to evaluate whether your business is serving your life, or the other way around, and then suggest some next steps. Let’s dive in:

Reflect

To evaluate whether your business is serving your life, or the other way around, there are many different questions you can ask yourself. I recommend setting aside at least 20 minutes to reflect on a few of these questions. Pick whichever call to you:

  • How are my needs being met by my business?
  • What is my primary emotion while performing business tasks, and why?
  • What needs are being fulfilled by my business? Which are not?
  • Do I gain anything by running my business? Do I miss out on anything?
  • Is there balance in my life between all the different roles I play (ie. business owner, friend, partner, etc.)? Which role do I spend the most time in?
  • What are my goals in life? Is my business helping me get closer to reaching them?

Re-evaluate

Once you’ve sat with those questions, you will have a clearer idea on where your business might be running your life. Balance between your business and other parts of your life might be out of whack, or maybe you simply aren’t getting paid enough. Now that you’ve acknowledged the issue at hand, it’s time to re-evaluate. Ask yourself, “How can I re-orient my business so it serves my life?” Start thinking about and researching new strategies you can use to close the gaps between your needs and what your business is providing.

A couple pointers for inspiration: if you feel like you’re not getting paid enough, check out my article on considering your hourly wage and my article on creating an owner’s paycheck. Another good place to look for solutions is my series on money-mapping.

Take Action

After you’ve researched and thought through strategies, it’s time to take action! Your business doesn’t need to run your life. Acting decisively to end this cycle will only help you. Whether it’s opening a separate account or deciding on a day every week where you look at your numbers, any action you take is a step in the right direction. If you work well with an accountability partner, you might enjoy my profitability coaching services. Feel free to schedule a call with me to see if we’d be a good fit.

☮

Angela

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Stop Expecting “Business As Usual”

By |2020-06-23T22:04:25-07:00June 23rd, 2020|Categories: Financial Clarity, Money Mindset, Small Business, solopreneurs|Tags: , , , , , , , , , |

So far, 2020 has been a challenge for many business owners. The COVID-19 pandemic and its economic fallout and the protests that have broken out around the country have both rocked the business landscape. Many solopreneurs and business owners have had to completely reshape their offerings and financial strategies. Perhaps this includes you!

This time last year, I shared my thoughts on how to do a mid-year review. This time around, I’m thinking about how rather than reflecting on the year so far, it’s time to adapt to a new and different future. I had prepared a blog post about how my income expectations faltered as the pandemic set in. However, because so many people ended up needing help straightening out their books, I blew my original income goal out of the water! My point with this post was going to be how important it is to not let a dismal situation limit your expectations for your business. But, at this moment, I think there’s something deeper to learn. In these rapidly-changing times, it’s important for us to adapt and be gentle with ourselves.

No More “Business As Usual”

Despite the many plans for re-opening the U.S., for many of us, things are not going back to normal. Perhaps you already know this from looking at your bottom line. Or maybe you’ve seen reports about how small businesses have been affected at large. The economic effects and social effects of recent times have created a lasting change in the small business landscape. It’s important for us as business owners to prepare for things to continue to change. This can look a myriad of ways. Creating a money system and putting together a savings cushion are two great strategies for establishing financial resiliency if you want extra ideas.

Just because things aren’t going back to normal doesn’t mean it’s all doom and gloom, though. Aside from the economic effects, both the pandemic and the recent Black Lives Matter protests have also enriched the business landscape from a social perspective. There are so many opportunities for collaboration! Now more than ever, we have an opportunity to lift each other up. If you want more ideas for collaboration, check out my article on 7 Tips for Business Owners During COVID-19 and my Cash Flow Reboot Guide.

Be Gentle

Don’t be hard on yourself if you don’t meet your income goals or if your business is struggling. Conversely, if you find yourself getting a ton of business as a result of the pandemic, don’t work yourself too hard, either! Coping with changes in your business can be challenging. Giving yourself the space to be present with feelings that come up and get enough rest are of paramount importance. The reality is that, no matter how hard you grind right now, in many cases things are still going to be challenging. This is a hard time in the world for most people, solopreneur or not! Be gentle in your expectations of yourself as best you can.

Be Present

In addition to stepping up to give your emotions some space, this is also a time step up for your community as a business owner. The current moment we are in is showing us many ways to do this. Whether we choose to uplift Black colleagues, create fundraising projects, or present some offerings for free, we’ve got options in how to contribute. I think that, if we want to, we can use this moment to permanently change how we do business. I love the way that Proposals for the Feminine Economy frames businesses – as “needs-fulfillment machine[s].” How can we find ways to do business that meet, not only our own needs, but the needs of those around us? Both COVID-19 and the Black Lives Matter protests have shown us how connected we all really are – socially and economically. This is a question we can sit with right now.

What are your thoughts about business as usual? Has your business experienced any bumps in the road? Please sound off in the comments below. If you’re feeling in need of more guidance on how to navigate this time, don’t hesitate to check out my services and schedule a call.

☮

Angela

Image by Christin Hume

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The Stages of Financially Growing a Business

By |2018-11-08T19:45:19-08:00October 15th, 2018|Categories: Cash Flow, Small Business, solopreneurs|Tags: , , , , , , , , |

Stages of Business Financial Growth: At Peace With Money

Starting a business is a financially intricate process. I’ve written at some length about avoiding financial pitfalls and myths, and important first steps, but something I don’t see many people talk about are the stages of growth a business goes through as it financially matures. Today I’m mapping these out for you, so you know what to expect on your solopreneur journey.

First, some general advice. When first starting a business, you have two priorities: a) get the word out about your business, and b) keep your expenses low. Doing these two things from the get-go will set you up for business success. If you need some more guidance around wrangling your business expenses, check out this article of mine. 

Fledgling

As you build your business, focus on streamlining your processes. Figure out how you can refine them to be time efficient. Keep track of time spent and ensure you are making a living wage and being cost-effective with your expenses. If you’re purchasing a lot of materials to create a product, look into bulk purchasing your supplies.

In this stage, it’s also important to cultivate the relationship with your current customers. Allotting time or room in the budget around strengthening customer relations and making sure your first customers have exemplary experiences with your business is very important. A good reputation sets you up for success, and good word-of-mouth exposure can eliminate advertising costs later on.

Growth

As your business begins to grow, again refine your processes to cut costs and increase efficiency. As you receive more orders or draw in more clients to serve, your processes may have to adjust to accommodate these larger numbers. You will likely find yourself spending more time doing production or client work. Consider the possibility of delegating or outsourcing some of your tasks, or find other solutions. Work on further defining your role in your business – what are the pieces that you want to keep doing yourself? What can you hand off? Continue to keep an eye on your bottom line.

Maintaining and Sustaining

Once your business establishes some staying power and becomes financially stable, it’s time to move to the next stage. Make sure your business is sustainable for you by keeping it fun and engaging. Continue to challenge yourself. Incorporate new ideas and investigate what role your business can play in the lives of your customers, clients, and community.

Stages of Growing a Business: At Peace With MoneySearch for feedback. Listen to your customers to continue innovating and refining your product or service. If you have a team of other people, focus on them to keep things fresh and engaging. Brainstorm together and streamline your business partnerships.

And of course, again make sure you are earning a living wage. Continue to examine your finances and find ways to improve the financial sustainability of your business. Part of the reason you created it was to meet your needs, after all!

Lastly, at all stages utilize Profit First. This is an essential part of every step, especially the fledgling stage. Setting up money systems that allow you to have a steady paycheck and stay focused on your own financial needs will help you create a business that won’t feel draining to operate.

I hope this little walk-through helped inspire you to work on your business idea! If you need more guidance, take a look at my offerings.

☮

Angela

Image Sources: oldskool photography,  rawpixel

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About

By |2023-05-19T11:55:33-07:00January 6th, 2018|

Get paid by your business
and make confident money decisions

Schedule a call
About Me
Hi there! Curious about why I started At Peace With Money?

In 2017 when I added profitability coaching to my bookkeeping practice, I knew exactly how I wanted my clients to feel – at peace with their finances. Prior to entering the world of bookkeeping, I spent ten years running a solopreneur jewelry business, and experienced my own financial headaches. Once I learned more about managing business finances and advanced my skill sets, I learned things I wanted every business owner to know. I knew I wanted to help people stop their businesses from running their lives, and instead align their business finances to support their life goals.

Compassionate coaching for small business dreamers.

Since starting At Peace With Money, I have personally had a hand in improving lives and reshaping the finances of over fifteen different businesses. My approach is client-driven, so everything we do is based on your vision of financial success, and assessment of your true needs, wants, and values. For this reason, I especially love working with solopreneurs and creatives. Every business owner’s story and vision are unique, and it’s highly gratifying for me to help business owners continue to do what they love using sustainable financial systems.

I offer you coaching to grow revenues and profit margins within your business, plan for retirement, and guidance to better understand how your business supports your life. I assist in setting up systems that leverage habits to achieve goals like repaying lines of credit, accumulating a buffer in your tax account, and creating a plan to get paid consistently.

Though I’m based in the Santa Cruz Mountains, my coaching and bookkeeping services can be delivered 100% online, so you can work with me from anywhere. (On the left, there I am working with Alison of Alison Sullivan Co. on her books!). If you are located in the Silicon Valley or Santa Cruz areas, I can do on-site visits to your office.

I offer guides and visual resources like money maps to demystify the financial realm of your business, so that you can gain a better understanding of your business and how it functions. I treat my clients with care and understanding, and endeavor to recognize the emotional and educational roadblocks many of us face when it comes to money. My goal is to help you break through those roadblocks, set up the systems your business needs to succeed, and help you reach your goals in life. I believe you can find true peace with money.

Integrity Statement.

As a bookkeeper and financial coach, I recognize the importance of treating you and your business with integrity and consistency in order to build trust. I am committed to client confidentiality and creating a safe and nurturing coaching experience, where you can be honest about your finances and associated emotions without fear of judgment, criticism or failure. I use an educational approach to give my clients the tools they need to run their businesses well, rather than keeping them dependent on an outside resource. I encourage my clients to believe in themselves, set realistic goals, take appropriate actions and celebrate success.

In order to get the best experience from working with me, I encourage you to evaluate your emotional state before considering my services. Please do not sign up for my services if you are feeling fearful or coerced in any way. Too often, I see coaches using fear tactics or grand claims to draw clients in. While I am truly committed to the success of my clients, I want your sign-up process to be based on identifying your own wants and needs, rather than marketing statements. Check out my article on determining what financial advice is right for you if you’d like more guidance here.

If you’re interested in what I can offer you, you might enjoy my free Three Important Steps to Starting a Business Guide, designed to help you assess your financial position and get started!

You can click here to get your free download.

Interested in what we have to offer? Check out my Services Page.
There, you can set up a free phone consultation to see if we can work well together.

About Angela, Bookkeeper & Profit Coach

A natural-born numbers lover, Angela Keller has been in the financial world in some capacity for thirty years. She’s worked as a mortgage broker, a solopreneur running a jewelry business, and has now been offering bookkeeping for eight years. In 2017, she added financial coaching to her skillset, after realizing how much she enjoys providing financial education to business owners. In true Virgo fashion, she loves to listen and problem-solve. Her approach focuses on the integration of business owners’ profits and financial systems into the larger picture of their personal goals, hopes, and dreams. She has several credentials, including being a Certified Quickbooks Prodadvisor, an Accounting Certificate through the University of California, and completed training in Coaching Essentials through the Association for Financial Counseling and Planning Education (AFCPE). She is a chapter ambassador of the Women’s Networking Alliance, and loves supporting and working with other female business owners. She is also a former Profit First Professional, and continues to appreciate the Profit First Method. When not at the computer looking through Quickbooks files, she enjoys motorcycle rides, puzzles, and hikes with her dog and coworker Maverick in the Santa Cruz Mountains.

About Nicole, Bookkeeper

Nicole Beringer was born and raised in the Bay Area, though she has since relocated to Southern CA. She has over 12 years of financial experience with Fortune 500 Companies in the building automation industry. When she’s not number crunching, she loves adventuring with her husband and daughters, hiking in Joshua Tree, and going to DISNEYLAND. Her family is her world.

About Madeleine, Head Content Creator

Madeleine Keller is a writer, facilitator, zine author, and folk herbalist. As the head content creator for At Peace With Money, they like to emphasize the importance of setting up financial systems that sustain both business owners and their larger communities. One of their favorite pieces they’ve written for At Peace With Money is our money-mapping series. Using this system, they were able to buy themselves their first mattress! Madeleine is also interested in sacred economics theory, reparations and “land rent” for indigenous and oppressed groups, and practicing financial transparency on a business-wide level. Aside from writing about finance, they enjoy making natural medicines for their community and organizing zine fests.

About Maverick, Director of Fun Activities

Maverick Keller is a spunky Vizsla who loves a good midday round of fetch. He’s an avid hiker and frequently reminds his coworkers to get their exercise, but he will also lay in your lap if you’re typing on the couch. When you’re working with money, it’s important to loosen up and not take yourself too seriously, which is why Maverick’s position as the Director of Fun Activities is essential to At Peace With Money!

To learn more about what we do, check out the blog, where we share financial insights on a weekly basis. You might also like to follow us on Instagram and Facebook, and subscribe to our monthly newsletter.

“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

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