Budgeting

This one is for my Entrepreneurs Part Two: Entrepreneurial Budgeting - it's not for the faint of heart

This one is for my Entrepreneurs Part Two: Entrepreneurial Budgeting - it's not for the faint of heart

As an entrepreneur your income can fluctuate wildly from one month to the next.  You can go from consistently having income for a couple of months to having nothing the next.  Building a budget and sticking to it with that type of income fluctuation is not only hard, it can feel defeating.

So how do you budget as an entrepreneur?  Well, it is not easy.  I wish I could lie to you and tell you that all you have to do is write it out and boom all your struggles disappear and unicorns will sprinkle magical dust that makes everything seem pretty and wonderful....but I can't because my husband tells me that I am a terrible liar and that possibly I am hallucinating.

This one is for my Entrepreneurs: Defining wealth, in your own terms.

This one is for my Entrepreneurs: Defining wealth, in your own terms.

Constantly believing that everyone else has it better than us; is more successful than us and we will never achieve that level of success. Conscious Beyond Wealth was created to give everyone the tools to overcome these obstacles, take a realistic look at their individual situations and have a support system to understand they are not alone.

Everyone does this but I would venture that entrepreneurs fall victim to this harder than the rest of us. Not only are they comparing their personal life with everyone else but they are comparing their businesses as well. When we equate success with a purely monetary value it becomes a necessary evil.

To pay off debt or to save money, that is the question

To pay off debt or to save money, that is the question

Debt is a big issue for people…okay almost everyone (considering Canadians have debt repayment levels sitting at 165% of their income) and as I stated in a previous post there are many kinds of debt to be wary of.

On the opposite side of the coin is our saving problem.  Canadians are not saving enough in general but especially for retirement.  We have become reliant on short term credit because of how low interest rates have gotten and how easy it is to obtain.

So how do you choose?  Pay off your debt or save your money? Can you do both? Where do you even begin?