Business Tipsfor building a six month cash reserve

Business Tip #1

Get in the habit of saving.

Right from the start of the year, you should be putting away money on a weekly basis in case of any unexpected expenses that come your

way.

Business Tip #2

Check your regular expenses.

Make sure that you know how much money your business will have to pay out every month.

It's easy to keep track of your expenses with simple cashbook software.

Business Tip #3

Use your paycheck.

If you are still in a day job and planning to launch a business, set aside a certain amount from your

pay every month to prepare.

Business Tip #4

Create a financial cushion.

You should aim to put aside £50 / $100 per week and this will soon add up to a decent

amount kept in reserve.

Business Tip #5

Take out, put some in.

Sometimes you will need to take money from this reserve in order to invest in new ventures or pay tax bills. Just remember to keep contributing

and fill it back up again!

Business Tip #5

Take out, put some in.

Sometimes you will need to take money from this reserve in order to invest in new ventures or pay tax bills. Just remember to keep contributing

and fill it back up again!