Finance Freebie Friday

Welcome to Finance Freebie Fridays where I provide a virtual open office hours for business CFO questions.

I try to suggest a weekly topic to get the ball rolling but ask anything.

This week I'd like to chat about Financial Wellness and Mindfulness.

67% of women worry about their finances once a week. Most of us have started to apply wellness and mindfulness to many aspects of our life, but what about with business finances?

I hear a lot of successful business women tell horror stories of what happened when they ignored the finances for too long at the beginning. So what does this practice look like?

Similar to carving out time for exercise, a nice cup of tea, painting in the backyard - one can do the same here. Some ideas to get you started:

• What are the main values in your business that you want to spend money on? What's the most important?

• What would an ideal budget look like? (And can you get into the nitty gritty of what your current budget actually is?)

• Do you know what your business fixed costs vs. variable costs are?

• Talk about the business finances with a trusted partner or advisor (Hi! I'll talk to you! 🙋🏼‍♀️)

• And the foundation - do you have a system keeping track of your income and expenses *accurately*?

There's many more things one can do, hope this helps get you started. Now go namaste those finances!

Kirsten

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