start up wednesday - managing ur money

Managing ur money

·      Opportunity – gotta know how much money you have so u know u can take opportunities

·      People sell things

·      The tax man a-cometh

·      If you know what you’ve got you can make good decisions

Budgeting

Costing & Pricing

·      U can up ur prices

·      U can lower your prices if you know what you’re short
you can do people favours but know what you would have made 

COSTING

·      Material, labour, overheads, research and development, time. (overheads, fixed costs – rent, rates etc. variable – phone, internet, gas, electric, stationary, travel, company promotion, professional services.

·      Research & Development : Hourly rate – factor it in. you’re selling your time!!

·      Price ur work so your costs are included

·      Day rate that covers the week if ur not working everyday

Cash Flow

Your Accounts

http://cdn.shopify.com/s/files/1/0627/8837/products/Apothecary87-129_600x.jpg?v=1461785026

(this guy was offered a lot of money for his logo and he said no because it's a good logo)


Got a lot of good info and spreadsheets that I will be able to use in the future to manage my money better.
I am living in the overdraft at the moment and would really like to NOT do that.