Where to Start With Putting Money Aside in Business

In this episode of 'It's Not About the Money' (formerly 'In Her Financial Shoes') I discuss where to start with putting money aside in your business.  I focus on five critical money pots that every business owner should consider: expenses, profit payouts, tax and VAT, cash reserves, and investments. I also discuss the importance of accurately predicting expenses for growth, paying yourself first, setting aside money for tax and VAT, maintaining cash reserves, and exploring tax-efficient investments. By addressing these areas, business owners can improve their financial stability, increase personal wealth, and make better financial decisions.   Key Takeaways Accurately predict expenses for growth in your business. Pay yourself first to prioritise savings and increase personal wealth. Set aside money for tax and VAT to avoid financial surprises. Maintain cash reserves to ensure financial stability. Explore tax-efficient investments to grow business assets.   Chapters 00:00 Introduction 01:27 Expenses 08:07 Profit Payouts 16:19 Tax and VAT 18:46 Cash Reserves 23:06 Investments 27:36 Summary