In this episode of Ask Christina 1st, we get into the discussion of all things relating to your budget. It would be safe to say that not many entrepreneurs are savvy with numbers and accounting, which can indeed affect how you manage your budget. The first step in breaking down your budget is a list. Create an itemized list of your fixed and variable expenses and put them into the categories of either personal or business. Be sure to clarify which expenses go into what category. For example your car, home and gas can be both depending on what you use these things for. Your personal budget will include groceries, self care products, outings, fast food, child care, etc… Your business budget will include equipment, storage pertaining to your business, employee pay, supplies, advertising/marketing, legal fees, accounting fees, etc…. Getting serious about where your money is going is the first step into creating a budget that is for you and your lifestyle. Furthermore, something to pay attention to is your anxieties attached to money and how they affect your spending habits.


In this episode you will learn:

1. How to categorize your fixed and variable expenses and determine which go in what category, personal or business.

2. How to recognize when your spending habits are attached to your anxieties.

Another great tip is to maintain your budget weekly if you can. Being able to log your weekly spending gives you a solid expense sheet at the end of the month.