This is a phrase that is rarely uttered and most of the time, dreaded.
For businesses, talking about the business’ money aka financials is something that is a habit. Whether you do that weekly, monthly or quarterly, entrepreneurs see the value in taking a look at financial numbers, see where they’re at and adjust accordingly.
My question is - why don’t we apply the same seriousness and vigor of talking about our personal finances?
Whether you live alone or have a partner, most have a weird reaction as soon as you mention money. Think about it - if your partner says, “Hey, let’s talk about our cash flow or budget. Bring those statement of accounts out.”, what would you normally feel?
Same if you’re living alone - when you tell yourself to dig into your finances, how do you feel?
Do you feel so excited that you grab the calculator, sit down and start digging or do you dread it to the point that you evade it?
Here’s the thing - if you can’t even face your own personal budget, how do you expect to successfully run a business? Don’t even tell me, “oh I can hire an accountant for my business or a CFO”. Well, of course, you should.
But how would you even get yourself and your business to that point where you have enough cash flow to hire someone?
Face it - you need to learn basic budgeting. You need to face your spending habits and learn how to make money go around.
You have to start with YOU.