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
www.abmp.com/money
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