Managing Your Money When Your Income Is Unpredictable As A Business Owner (072)

How can you feel financially secure when your income fluctuates? In this episode of the Plenty podcast, I’m diving into some of my top strategies for managing money with an unpredictable income.

Managing finances with irregular income can be a real challenge for entrepreneurs, and I’ve personally navigated it. I share practical tips on understanding your business cycles, building a cushion fund, and working with your nervous system to cultivate a sense of safety even when cash flow varies. I’ll also discuss the benefits of creating monthly recurring revenue and how tools like YNAB can support cash flow management.
This episode is filled with insights to help you feel more secure and empowered on your financial journey, no matter how unpredictable it may be!

“When you train your nervous system, your sense of safety and security is actually sourced from within.” -Kate Northrup

Read the full transcript

 

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00:00 Introduction to the episode and topic
01:20 The nature of entrepreneurship and income fluctuations
03:05 Importance of knowing your business cycles
05:15 Working with your nervous system for financial security
07:00 Building a cushion fund for stability
09:25 Saving for taxes methodically
11:10 Creating monthly recurring revenue
13:00 Using YNAB and Profit First for cash flow management
14:45 Summary of key tips for managing inconsistent revenue
16:10 Final thoughts and encouragement for entrepreneurs

Links and Resources:

Relaxed Money
YNAB

 

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