DT21: How to manage very small budgets, cashflow shortfalls and tax time
Description
Today we're talking about money. What to do when you've got no money, what to do when you have a cash shortfall, and what to do when tax time comes and you don't have money to pay him.
Kate emphasized the importance of effective financial management for small business owners and e-commerce entrepreneurs, suggesting the use of a bucket or envelope system for allocating funds. She shared her personal experience of transitioning from financial hardship to relative comfort and advised that running a business requires financial discipline and sometimes sacrifices. Kate also mentioned that she offers a little profit training on her website and that the concept of the envelope system is detailed in her book, 'Six Figures in School Hours'.
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