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18 m a s s a g e & b o d y w o r k m a r c h / a p r i l 2 0 2 0 BLUEPRINT FOR SUCCESS best practices Organized, honest tracking of your expenditures is key to truly understanding and being in control of your business finances. A clear view of your expenses will help you decide whether you need to make more money, lower those expenses, take a vacation, or all (or none) of the above. Tracking expenses can be a little less fun and a little more work than tracking income . . . until you get a system in place. Once you're rolling, tracking expenditures and paying bills should take less than 30 minutes every week or two. Getting started can be a bigger task. So, for this first step, set aside an hour or two—whatever works best for your schedule and style. We're going to get organized and get a real picture of how much money is leaving your massage business. By tracking your past expenses, you can better predict and plan for what will come up. This will Tracking Expenses By Allissa Haines and Michael Reynolds In our first column of the Mind Your Money 2020 series ("It's Time to Get Your Accounts in Order," January/February 2020, page 18), we covered how to track the money coming into your massage business. Now that you're feeling boss-like and powerful seeing all that income recorded in one place, the next logical step is to get familiar with the money flowing out of your business in the form of expenses. Financial Literacy Series M i n d Y o u r M o ney 2 020

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