Remove Credit Card Remove Expenses Remove Health Remove Industry
article thumbnail

Lessons From Past Recessions

Success

How much debt do I have (credit cards, student loans, car loans, mortgages, etc.)? What are my basic monthly living expenses (including food, shelter, health insurance, utilities, phone, transportation and childcare)? Where can I cut back on the rest of my spending if it becomes necessary? Beef up your emergency fund.

article thumbnail

3 Steps to Take Before Going Into Business for Yourself

Success

Before going into business for yourself, you should have an account set aside to save for these additional expenses. Next, you’ll need to consider your current company benefits such as health insurance and retirement plans. If that’s not an option, you’ll need to get on a health insurance plan for self-employed individuals.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Know If You’re Financially Ready to Start a Business

Success

Market analysis: What are the current trends in your industry? Be clear on how you’ll set your business apart in your industry. After all, without cash flow and a solid financial plan that includes costs and expenses, you won’t be able to get your business off the ground. Divide your expenses into one-time (e.g.,

Expenses 342
article thumbnail

44 Ways to Kick-Start Your New Year

Success

I want to evaluate my cost-of-living expenses and see where I can cut back. I just started my own business, and I want to evaluate my income versus my expenses to see where I am currently, with the ultimate goal of hitting the salary I want to make. Review your expenses as a couple. Cut up credit cards. For health?

Mentoring 345
article thumbnail

16 Rich Habits

Success

Stay away from accumulating credit card debt. Try to stash six months of living expenses in an emergency fund in case you lose your job or your business goes belly-up. Their positive habits lead to opportunities such as promotions, bonuses, new business and good health. You should never lose money on your savings.

Mentoring 317
article thumbnail

How to Manage Yourself When Making the Move to Self-Employment

Productivityist

You ideally need to make sure you have enough running costs of the business to run for 6 months as well as making sure you have enough to pay for living expenses. Make sure you get rid of unnecessary expenses and cut back on others, such as eating out or your weekly shopping budget Eliminate any money wasters such as unused subscriptions.

article thumbnail

Answering Reader Mail: Can an EA salary support a family?

Musings of a High-Level Executive Assistant

Always buy the most expensive health insurance you can afford. Take note on any outstanding kudos you got from your bosses and know your salary worth compared to the rest of the industry. If you must use your credit card, pay it off at the end of the month and don't pay interest. Still, worth repeating!

Salary 40