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Are Your Expenses Naughty Or Nice?

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Expenses…. often the biggest cost of a business.

What’s An Expense?

An expense is a cost incurred during your day-to-day business.

Expenses can mount up to a lot of money and that’s money making a dent in your profits.

 

How Can I Save Money On My Expenses?

1.  Make A List

List all your expenses.

That’s right all of them. Don’t be shy. Don’t judge yourself.

rosie-slosek-1287-lresAction: Put the kettle on or open a bottle of wine. Get out All The Receipts. List them. Drink tea/wine. Repeat.

 

2. Check It Twice

Have you included all your expenses for business?

Even the ones that you think aren’t tax-deductible (come off your tax bill)?

It’s common for new businesses to only include expenses they believe are tax-deductible.

You need to include all your expenses that are for business. Otherwise you can’t see whether you’re getting value, and after all, if it doesn’t come off your tax bill, isn’t it MORE important you get value?

Action: Check you haven’t missed any expenses you didn’t know you can claim. Get help with some 1:1 coaching or my How To Do Your Tax Return Course.

 

3. Naughty Or Nice?

Are your expenses naughty or nice?

Mark each expense:

  • Nice –  I Got Kick Ass Value or It’s Essential
  • Naughty – What Was I Thinking? *facepalm*
  • Investment – I Need This For The Long Term

Value, No Value, Investment.

blmurch

 

Action: Book a date each year, quarter or month to review your expenses.

 

 

4. Go To Town

Get some money back in your pocket.

Where are you getting value and more investment would reap huge benefits?

Where are you struggling and support would free you to take your business to the next delicious level?

Cancel recurring payments that you aren’t getting value from and stop paying for expenses when it’s not benefitting you. Time to put on your Big Girl Pants and Big Boy Trousers and be adult about where you spend your money.

Pastries.jpg

 

 

Action: Book a date for afternoon tea.

Take your expenses list with you and treat it to some pampering. Cut the naughty no value crusts off your expenses sandwiches and create your future perfect business spending afternoon tea.

Did you know my 1:1 coaching includes a chocolate brownie? Contact me if you’re interested.

 

5. Be Good For Goodness Sake!

Cake.

We like cake. We also love purple sprouting broccoli. You need both.

Purple sprouting has delicious vitamins and tastes fabulous and is the essential part of your expenses spending.

Afternoon tea

 

Cake is the pampering investment.

 

Do you have enough investment cake in your life or is it all no value spending?

 

 

 

 

Are your expenses naughty or nice?

rosie-slosek-1287-lres smallerIf you feel your business spending is a bit too much purple sprouting broccoli and not enough cake, book 1:1 coaching.

The beauty of an investment with me is that it’s delicious, nutritious, tax-deductible and enables your business to grow.

Like cake and it’s good for you!

 

 

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Start your business, help you do your sole trader tax return, expenses, explaining limited companies.

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