Learn how to Budget for your Business using the 50/20/30 rule

Essential Expenses

  • sharing office space with another entrepreneur
  • using a co-working space
  • working from a café shop with free Wi-Fi
  • working from home until the business can afford this expense

Financial Goals

  • Certificate of Deposits
  • Stocks
  • Bonds
  • Mutual Funds

Personal Development

How does this all work?

How To Get Started With 50/20/30 rule for your budget — Answer these 3 big questions

  1. How much is your business earning? The 50/20/30 rule should help you determine what is going on with your finances. Remember that your earnings will fluctuate every month, so always base your budgeting on your average monthly income.
  2. What are you spending money on? Ensure that your spending makes sense for your income level. Pay close attention to your statements — bank, credit, debit cards and use it as a good opportunity to track all your spending. Don’t forget that the sushi lunch with co-workers or that afternoon glass of wine at Sovereign North can quickly add up. Consider your mobile data for example. Are you paying for overages on your plan? If you find that you are overspending, find a way to cut back. And if find that you are underspending, use that extra money to realize your financial goals. Focus on reducing your debt payment or invest more.
  3. What are you doing to grow your business? HeadOffice will help you manage the budget for your business.

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