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Why is saving money in business important?

1. Know Your Income

An Empowered Approach to Financial Success

Transform Your Business with Budgeting: Understand and Manage Fixed and Variable Expenses 

Every entrepreneurial journey is unique, intricately woven with aspirations, ideas, and determination. 

As you begin on this exciting venture, the importance of economic management and understanding key fiscal concepts, such as fixed and variable expenses, quickly becomes clear.

These financial parameters play a significant role in shaping the business's financial trajectory and understanding them becomes a stepping stone to achieving financial stability and success.

The Importance of Budgeting for Financial Success

Just as a compass is essential for a ship's voyage, budgeting is a critical navigational tool for your business. 

It serves as a financial map, offering clear and concise guidelines to maintain a healthy financial trajectory and ensure long-term viability. 

This economic blueprint significantly relies on understanding...

Introduction: 

Women and Financial Mastery

In the 21st century, women shatter glass ceilings, storm boardrooms and stand at the forefront of change, influence, and growth. 

Despite these tremendous strides, there remains an area where women are notably underrepresented - financial literacy. 

Financial understanding is a cornerstone of independence, affecting all aspects of our lives, from the microcosm of daily purchases to significant decisions like buying a house or starting a business.

Imagine a scenario in which Jane, an enthusiastic entrepreneur, recently started her bakery.

From sourcing ingredients to creating an inviting ambiance, she has managed it all.

However, a successful business doesn't merely hinge on delicious pastries. 

It depends on robust financial planning, efficient capital management, and a sound understanding of cash flows.

Navigating this intricate financial maze can be challenging, and this is where Candice Montgomery LLC...

Financial planning is fundamental to personal and professional success, allowing individuals to control their finances and make informed money decisions. By carefully managing income, expenses, and investments, financial planning enables us to achieve our goals, whether buying a home, saving for retirement or pursuing our passions.

This blog post will explore planning finances around your calendar, which provides a structured approach to better organization and control. By aligning financial activities with specific dates and events on your calendar, you can stay on track and properly manage your financial responsibilities.

Powerful Tips for Planning Your Finances

Planning your finances is crucial to achieving financial stability and securing a prosperous future. It involves strategic decision-making, budgeting, and setting goals to manage your money effectively. By implementing powerful tips and strategies, you can take control of your finances, reduce financial stress,...

How many times have you gone to the grocery store planning to spend $150 and you walk out spending $300 and wondering what the heck? Or with eating out? These are two of the biggest categories Americans overspend on. So what do we do? How do we control this spending?

Did you know the first credit card was established 1958 but it took till 1980 for them to begin taking over and since then a social revolution has begun. This revolution has taken Americans away from saving and pushing to spend! What did people use before debit and credit cards? Ask your grandparents or your great grandparents: CASH!

According to Avni M. Shah, an assistant marketing professor, paying with cash is more painful than paying with cards. Why? Because with cash, you are manually handing the check out person your money and seeing it disappear before your eyes.

Because of this fact, cash envelopes were introduced!

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What is it like to be debt free? I’m sharing my own journey on how I became debt free and how it totally changed me and my family’s life.

In 1996, we started our first business. I was 22 and my husband was 24. My husband and I were both working full-time and part-time in our business. In 1999, my husband left working for someone else and went full-time in our business. When our daughter turned 11 months old in 2000, I left my full-time corporate job. I remember telling my husband we had to be on a strict budget. But the truth was, I really didn't know how to budget. I would only pay us what we needed to pay our monthly bills and whenever I started with the budget I would pull all the bills out and then I would pay us, but at the end of the month we would always be short. I couldn't figure out why we were always short.

It wasn’t until 2015, that I learned how to budget. In 2012, I started hearing about “Dave Ramsey's Financial Peace”...