Anne-Marie Saint-John, Alva, Long Island City, NY >
To reach your financial goals, you need to keep track of the money flowing in and out of your business. This financial plan is known as a budget.
There are three steps to creating a budget:
In addition to your budget, you should also create a Personal Financial Statement, which aids you in obtaining business credit.
Your personal financial statement describes your resources (everything you own, like money, cars, and investments) and your obligations (all your debts). Subtract your obligations from your resources to calculate your total financial worth- this information is vital to lenders.