personal finances

How I Use The 50/20/30 Budget Plan For Personal Finances

How I Use The 50/20/30 Budget Plan For Personal Finances

When I started my entrepreneurial journey, I began to ignore my personal finances. I was so selfish about my business baby that I didn't handle much within my own household.

Mostly because of comfort. Upon inception of my business, I was as a foster mom to special needs adults making pretty good money. It was 2016 and I stopped writing for the personal blog I created a year prior. I quit this blog because I felt like the digital space needed someone to help them with business finance.

I started my bookkeeping business with low startup costs. After a while, I started to drink all the Kool Aid from the cool kids. I invested in the latest course. Signed up for every sexy software subscription. Since I didn't yet master my client experience, I wasn't making consistent income. Most of these funds were borrowed from my personal finances. It became awful.

Through this, I stacked up a pretty expensive first year of business.

I vowed to avoid this in my second year of business. I also committed to keeping myself as accountable as I do my bookkeeping clients!