You need a budget…a business budget, that is.
This video will walk you through how to create a business budget, even with a variable income/irregular income, using YNAB as your business budgeting software.
Watch below.How to Create a Business Budget Using YNAB Click To Tweet
I think we can all agree right now that having an emergency fund for your business is a very real and necessary need for every business owner. But if you’re in the thick of this and haven’t started fine-tuning yours yet, it’s honestly not too late.
Peace of mind comes from both our mindset and our very tangible reality. But where do you even start?
You start with a business budget.
Creating (or recreating) your budget can help you get through this very difficult season, and be prepared should we ever face another one.
I tested a lot of budgeting options out…spreadsheets, Every Dollar, Mint. But they all resulted in massive headaches. Finally we settled on using YNAB (You Need a Budget – NOT a sponsor).
The 3 Most Important things to prioritize
In this video I will show you how to set up a business budget to prioritize the 3 most important things in your business:
- The ability to pay your taxes
- The ability to save for emergencies
- And the ability to make a predictable profit (not to be confused with revenue)
My business budget example uses a combination of the Profit First method (highly recommend the book) using small business budget percentages, as well as a few methods to navigate a variable income budget strategy.
In this video:
I’ll show you which categories to use to make a simple business budget template for yourself that’s easy to adjust with your income.
I’ll also walk you through how I created ours using YNAB, and how to budget a variable income. I hope learning this skill helps you like it helped us.
To jump to a specific topic:
00:45 How much YNAB costs vs how much $$$ it’s made us
01:39 How to setup your budget and which accounts to add
06:28 Business Budget Categories (and how to prioritize)
08:27 Setting Aside Taxes
17:38 How to budget for a variable income
Okay, business finances ✔️ Now, let’s talk business mindset…
If you’re brand new to me and my work, I would encourage you to start with my free Bottlenecks to Breakthroughs training to learn more about my process.
You can learn more about that here or grab it by clicking the button below.
And if you’re ready to massively uplevel your mindset and habits in order to take your business to the next level, let’s talk about what that might look like and what we might be able to do together.
What about you, boss lady?
What do you use for budgeting?
Scroll to leave your comment below!