Financial Literacy and Basic Bookkeeping Skills
Explaining the “why” behind understanding financial data, so solopreneurs can make better decisions and reduce stress.
Explaining the “why” behind understanding financial data, so solopreneurs can make better decisions and reduce stress.
When you delete a transaction, you're not just removing a mistake. You're erasing history. And in bookkeeping, history matters more than you might think.
Overcome financial anxiety by starting small: schedule 15-minute weekly 'money dates' to review basics. Use simple software and reframe numbers as a tool for empowerment, not judgment. This small habit prevents massive future crises.
Revenue is total income; profit is what's left after expenses and taxes. Spending based on revenue is the fastest way to manufacture a cash crisis because you're spending money that belongs to the IRS or your suppliers.
First, take a deep breath. The feeling of being overwhelmed by your business finances is a signal, not a failure. It simply means you're ready for a new level of clarity. To get there, you need a simple, immediate plan.
Feeling perpetually stressed about money, even when your sales reports look strong, is a common and deeply frustrating experience for freelancers.
Yes, using a business credit card is a very smart move for most solopreneurs.