Cash Flow for Law Firm Owners Part 1: Why You Must Separate Business and Personal Finances (Ep. 134)
Description
Let’s be honest: as a law firm owner, juggling unpredictable cash flow, unexpected expenses, and the pressure of growing both your business and personal wealth can feel overwhelming. If you’ve found yourself swiping your firm’s debit card for groceries one week and dipping into your personal savings to make payroll the next, this episode of The Lawyer Millionaire was made for you.
On this episode, host Darren Wurz takes a deep dive into the heart of financial chaos for law firm owners mixing business and personal finances. He explains why this is the single biggest threat to your firm’s long-term success and your peace of mind. But here’s the good news: there’s a simple, practical solution you can put into action today.
Darren discusses:
- The dangers of mixing personal and business finances.
- How separating your accounts can reduce stress and boost profitability.
- How to prevent cash flow confusion from eating your profits.
- Common retirement hurdles law firm owners and how to overcome them.
- The top financial tools to help you manage personal and business finances.
Resources:
- Buy Back Your Time: Get Unstuck, Reclaim Your Freedom, and Build Your Empire by Dan Martell
- Wave
- Quickbooks
- Relay
- Ally
- Monarch Money
- YNAB
Connect with Darren Wurz:
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