A Guide to Budgeting Your Business Month-By-Month – Tina B's World
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A Guide to Budgeting Your Business Month-By-Month

This post may contain affiliate links. When you make a purchase through the links, I receive a commission at no extra cost to you. Thank you for your support. 

Would you take advantage of a tool if you knew it could:

  • bring your business into harmony
  • dramatically reduce stress
  • make the challenges of business much more manageable

Such a tool does exist: a budget! 

woman using a calculator while counting money

Budgets allow you to take control of your finances, instead of your finances controlling you. Finances have a knack for becoming complicated, so making your budget as simple as possible will allow you to get a better handle on your finances so that you can focus on the important stuff. 

Create a budget that: 

  • supports your business dreams
  • makes sure your business necessities are taken care of 

Simplifying your budget can have positive effects on all aspects of your finances by helping you keep everything under control.

Stressing out over your finances is a waste of your time, so rein them in today with a simpler, easier to manage budget. 

Here are some tips to experience peace of mind and excitement about your biz future: 

Find the Starting line

The first crucial step in creating a budget that works is to list all of your income and keep track of every dime you spend for a month.

Before you can know where you’re going, you have to know your starting point.

You’ll be surprised to learn where your money goes each month.

This awareness alone may change your spending habits for the better. 

Credit: Use Wisely & Sparingly

When we were young adults, using credit cards can seem like no big deal, right?

Credit card issuers often give special deals and incentives to lure young adults into applying for credit they don’t need. With large spending limits and small incomes, credit cards tempted you to live a lifestyle you can’t afford.

Credit, used properly, can provide convenience and peace of mind in knowing that you’re covered in the case of an emergency, but the temptation is there to live outside of your means and worry about paying for those purchases later. 

The fewer credit cards you sign up for, the less you’ll be tempted to spend away your future business financial health. 

Balance your Checkbook

A checkbook is an ancient contraption that old people used to make sure they still had money in their account before online banking became a thing. 

Before you throw a fit, I use “old people” because apparently at 40, I’m old now? I had a checkbook once (with hot firemen as the background). 


One of the simplest and most productive habits you can incorporate into your business financial success plan is to maintain a balanced checkbook.

Keep track of everything that goes in and out of your account by writing it in a check register or in a spreadsheet (I added some free worksheets at the end of this post in the Resources section). 

You can: 

  • set a spreadsheet up however you need to 
  • download a free template for Excel or Google Docs 
  • choose something else that works for you 

At the end of the month, compare your ledger to your bank statement.

Keeping track of what you spend helps you may feel less tempted to waste money on impulse purchases (new PLR you don’t have a plan for).

You’ll know when the money is almost out, which will save you money on overdraft fees and a lot of headaches. 

cut back where you can

There’s no secret to a successful budget.

It’s as simple as:

  • keeping track of your income and expenses
  • increasing the money coming in or lowering your expenses until you spend less than you earn
  • saving for a rainy day 

Once you have a good grasp on what you’re spending and where, you can cut back if you need to.

Keep an eye on your inbox for:

  • your fave PLR vendors having sales (holiday, birthday, etc)
  • course bundles (which are a bunch of courses for a huge discount) 

pay your bills online

What monthly bills do you have?

Try to automate your bill payments as much as possible so that you don’t have to remember to pay your bills every month.

Consider automatic bank withdrawals and pay bills online through automatic debit whenever you can. Just keep track of these so you don’t end up (heaven forbid!) overdrawn and subject to fees. 

Try to Save for a "Rainy Day"

You might want to automate some savings. Once you figure out how much profit you have made in a month, take a small percentage and put into a “rainy day” fund. 

Aim to find a high-yield business savings account, if you haven’t already. You can earmark it in your primary business account or transfer it to another account all together. 

Financial pressures can make all of life seem overwhelming at times, so try to simplify your budget. 

If you implement these simple steps and commit to maintaining a rock solid budget for your business, you’ll experience financial peace and prosperity.

Above all, do what works well for you and your business.

Avoid struggling with a new budget plan because you think it must be better. If it isn’t actually helping you budget, then it’s not the “better” option for your needs.

Sometimes simpler is more effective.

Stock Photos:

Ivory Mix 


free worksheet!
get your budget on paper.
where are you spending your money and where can you cut back without sacrificing quality?
simple business
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