Business Tips and Tricks, Hope Wissel

Are You Making Money?

Happy Hump Day!  I am sure that if I were to ask many of my friends in direct sales if they were “making money”, their response would be “of course” at which point they would tell me about all of the incentives they have earned, the free products and the nice commission checks.  I guess the real question is, “At the end of the year, does your business have a profit or a loss?”  Honestly, I am a hot mess when it comes to doing bookkeeping – the pile grows with receipts, notes, paid invoices, etc that need to be entered into my excel spreadsheet so I know if I have at a profit or a loss.  Budgeting has never been one of my strong points.  In preparation for the busy holiday season and the upcoming end of the fiscal year – yes, I am planning for tax time – I thought I would talk a little bit about money and budgets.  Some may walk away because “they got this” and I would ask that they share their tips with us so that we can ALL GET THIS!

I was never good with a budget so credit card debt and living paycheck to paycheck was a way of life for MOST of my adult life.  Of course, add in an addiction being a single parent and working for grassroots non-profits to the mix and I could easily justify the financial mess.  It seems so strange that I could easily manage agency money, do budgets, ensure that we did not overspend on those budgets and stretch dollars when I couldn’t do it in my personal life.  Now, I am married to a PLANNER – plans for the future, plans for a time when there may be a lapse in income, has savings – UGH!  Alright God, I get the message!

I took a course offered at our church called Financial Peace University by Dave Ramsey.  The course helped ALOT when I had a regular paycheck.  Bills were getting paid and I actually saw a light at the end of the tunnel. Then life happened – I got complacent in my budgeting, started with Thirty One and went on a shopping frenzy to have EVERYTHING, left my full-time job of 5 years due to a 20 hour a week commute – BUSTED!  Budget went down the tubes.

So, part of my preparation for this busy season of selling was to get BACK on track with my budget.  I found several great articles and blogs that might help you too.  A fellow blogger who is also a H.O.T. (Husband of a Thirty One) shares about their families experiences with Budgeting for Direct Sales.  Dave Ramsey has some great budgeting forms on his website that are simple and easy to do.  I love his quote “When you spend your money on paper and on purpose each month with a written budget, you’ll actually experience more freedom than before!”

I ask you again – are you making money?  Do you actually know how much your business is costing you or are you going to have sticker shock at the end of the year when you do your taxes?  I would love to hear your suggestions and comments.

Have a ThirtyOne-derful day!

3 thoughts on “Are You Making Money?”

  1. Pingback: Money | hopewissel

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