You have 0 items in your cart
This includes:
This includes:
This includes:
This will be in a booklet PDF format suitable for presentation to your stakeholders or bank manager; however, the intended use is for ongoing navigation for priorities, expected and unexpected expenses, and the motivation of established sales goals.
Traditional Budgeting is setting a budget for the year in Oct or Nov for the next year, and then measuring against that to help navigate periodically throughout the year. We do need traditional budgeting for forecasting purposes, creating a basic budget as a road map, and build it out with your sales goals and spending projections. But, we depend on Active Budgeting for the nitty gritty. Traditional budgeting does not allow for the true decision making and constant navigation it takes to run a business.
For complete Control & Clarity use Active Budgeting.
What about this fork in the road — how do I know what to do?
Is it too late to decide?
With active budgeting, you’re physically assigning your money to categories before it goes out the door. You’re anticipating based on what has happened in the past and adapting for current expectations and actuals in real time – every day!
Once you’ve established saving goals and spending parameters – active budgeting makes it easy to follow. You can automate a lot with savings transfers, but it still needs maintenance, because things change! You can easily navigate the twists and turns and stay on track to your end destination without going off course and having to correct.
YNAB is our tool of choice, it stands for You Need a Budget. There are tons of budgeting and cash flow apps out there, but I like to use the ones that pool the most resources and are the most successful for the least amount of expense. This is $84 per year, and you can create multiple budgets with it.
For example, for business owners, we recommend having one YNAB account and setting up two budgets: one for your business and one for your family/personal that you can switch between. It’s the best thing we can recommend for Cash Flow.
We are not affiliated and don’t receive kickbacks – this referral link is available to any YNAB user.
When you work with us to get our experienced training using YNAB for Business and Personal, we first setup a Basic Budget to build out your cap spending and savings goals by category.
We connect your bank accounts to it and it has machine learning, so the more you use it, the smarter and more efficient it gets at pre-coding your transactions for you. You just have to approve them, and when maintained regularly – daily is our preference – you can quickly do this in batch. Then go to the budget and divvy up your deposits into the buckets.
While we could manage this for you, we only do this for specific situations where we are meeting with someone on your team regularly or else it doesn’t work. It needs to be managed by someone on the front lines, because it works best when scheduled and anticipated transactions are entered before they actually process through the bank.
The worst thing someone can do is think their bank balance is the amount they have to spend. That money is spoken for and you refer to YNAB instead.
If you’re familiar with Profit First, it’s the same concept, but instead of physically having MANY bank accounts for different purposes, you have them in virtual buckets within one Savings and one Checking account – this allows for Compound interest and a heck of a lot less to manage!
You are able to assign current cash to transactions spent on credit, so you don’t get caught in the debt cycle of thinking you don’t owe it until the next month. If you don’t have it this month, you won’t have this month and next month’s payments together – this is how people snowball into a big credit card balance. The credit card companies are banking on it, literally.
YNAB also helps you pay off pre-existing debt, by setting targets to pay off the balance and calculating for you on an ongoing basis, how much you have to throw at it to meet that goal.
Review and Adjust: nothing is a set it and forget it thing with money. Things change all the time, so you have to review what’s happening every month. We review Monthly to how you’re stacking up for each Quarter, and Quarterly to Annual.
With Mariel’s guidance we were able to quickly learn YNAB, customize it for our business, incorporate it into our daily activities. With that process in place, we were able to show upper management where we were over spending, how to create reliable budgeting and start saving!
As my business was growing, my understanding of where my money was going was too much to handle with a spreadsheet and logging into my bank account. Mariel set me up with YNAB and helped me learn more about budgeting, having a grasp of what expenses were coming up and being able to forecast where I had leeway to buy new equipment or make a new hire. Mariel is patient and a wealth of knowledge.
I’m glad Mariel introduced me to this software. Definitely helped me create an understanding of how to build toward goals, and finally answer a lot of budgeting questions on my own.
Learning to budget gave me a much better understanding of my business and finances, and I am very happy to finally have a grasp of where I stand at any given time. I’ve already recommended the service to friends!