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Budgeting for Small Business Owners: How YNAB Helps You Manage Money with Confidence
Starting and running my own business is one of the best decisions I’ve ever made. It also comes with plenty of challenges. One of the challenges that I still have to think through regularly is that I no longer receive a traditional paycheck. My income is now tied to client payments and the work that I “land” as a small business owner.
You Need a Budget, aka YNAB, has been essential to giving me a sense of control over my finances as a small business owner.
YNAB is more than just a tracking tool — it’s a cash flow management system that helps me prioritize, adapt, and stay in control — no matter what my business throws at me.
Today, I want to share a little bit about how I manage money with YNAB — and how you can make YNAB work for you and your small business.
Step 1: Separate Business and Personal Finances
When you are a small business owner like me, the assets of your business are completely yours. (Every business is different, so make sure you follow the rules and regulations that are appropriate to your business structure. A good lawyer and accountant are critical here to understanding all the options available to you.)
