You know that feeling in your stomach when an unexpected expense hits? Your car needs $800 in repairs. Your laptop dies. A client ghosts and you’re short on rent. That panic? It doesn’t have to be your reality. Most people think emergency funds are just for people with regular paychecks. But when you’re running a business, you need one even more. You don’t have paid sick days or a guaranteed paycheck every two weeks. So how much do you actually need? Start with $1,000. That’s it. Not $10,000. Not six months of expenses. Just one thousand dollars sitting in a separate account that you don’t touch unless it’s a real emergency (and no, a sale at Target doesn’t count). Why $1,000? Because it covers most of the small emergencies that derail your month. A client drops off. Your phone or laptop breaks. You get a surprise tax bill in the mail. Here’s the thing though: this savings isn’t just about money. It’s about buying yourself peace of mind so you can actually focus on growing your business instead of constantly putting out fires. Your assignment this week: Open a separate savings account (even if it’s just another account at your current bank). Name it “Emergency Fund” or “I Don’t Wanna Be Broke” or whatever makes you feel like you’ve got your life together. Then put something in it. Even if it’s just $50. Even if it’s $20. The amount doesn’t matter right now. Starting does. Drop a comment when you’ve opened the account. Let’s build our safety nets together.

I got asked a question I wasn’t expecting on this podcast. When should a service-based business actually hire a bookkeeper? I sat down with Conor from Jonasson Retirement to talk about the bookkeeping mistakes I see business owners making between $100K-$500K. We got into why checking your bank balance isn’t the same as knowing your numbers. The signs that you’ve outgrown DIY bookkeeping. And what “CPA-ready financials” actually means before tax season hits. If you’ve ever wondered whether it’s time to get help with your finances, this one’s for you. https://youtu.be/NcjAKQ0ZMFA?si=KYp6O4vIW19KZf9n

If $200,000 were delivered to your home address by FedEx as part of a verified giveaway, how would you responsibly use the funds? Please be honest. For example: Transportation (car) Bills & obligations Business or entrepreneurship Housing Health & medical needs Food & daily living Family support Investments If you prefer to share privately, feel free to DM me.

Check out this video from my YouTube channel https://www.youtube.com/live/EZauFg-Dc4s?si=W0_yYxuF13bL-G70. I touched on personal finance goals, but the same rules apply for your business goals: 1. How much profit do you plan to earn Q1? 2. How many new clients do you need to acquire Q1? 3. Do you plan to offer new services, if so, how much do you need to charge to reach your income goals? 4. Do you plan to hire team members? Who, and how much can you afford to pay? This is a small list to get you going. You got this! Only choose 1 business and 1 personal finance goal that you plan to execute Q1. Feel free to drop a comment or send me a DM😊