Back to all pathpoints

Money Setup

Set up simple ways to bring money in, keep track of it and plan ahead, with a separate account, a starter budget, invoicing, payments and a monthly check. General education, not financial advice.

Steps

1. Open a separate accountKeep business or ministry money apart from your personal money from day one.
2. Build a starter budgetList what it costs to get going and what it costs each month.
3. Track what you spendChoose a simple way to record every expense, even a spreadsheet.
4. Get ready to be paidSet up invoicing and a way to take payments or donations.
5. Learn cash flow basicsSee when money comes in versus goes out so you're never caught short.
6. Set money aside for taxesWork out a simple percentage to put away and when payments are due.
7. Start a monthly money checkBlock thirty minutes each month to review income, spending and what's next.