How Your Personal Finances Impact Your Business Success

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Күн бұрын

Managing personal finances as a small business owner can feel confusing and overwhelming to many. However, business owners who can manage their personal finances will be more financially successful in their businesses as well!
Many business owners do not know how much money they need to run their household. This can lead to underpricing products/services as well as cash flow challenges.
This video is meant to help the small business owner who is confused and frustrated with handling their personal finance situation.
Hannah uses Monarch as her personal finance tracking and budgeting system. To get a free extended trial, visit www.claracfo.com/monarch
Hannah also mentioned some personal finance people you may be interested in checking out:
Ramit Sethi: www.iwillteachyoutoberich.com/ ‪@ramitsethi‬
Tori Dunlap: herfirst100k.com/ ‪@HerFirst100K‬
Vivian Tu: www.yourrichbff.com/ ‪@YourRichBFF‬
To learn more about CFO services for B2B services providers making over $1M in annual revenue, go to: claracfo.com/cfo-services/
💲 Need an accounting system? We use Quickbooks Online with clients and recommend it as the best accounting system for small businesses. Sign up to get a discounted subscription for 12 months! claracfo.com/QBO
🙋‍♀‍Got Employees? Talk to ADP! They can help you if you are a small business owner or an accountant or advisor who works with small businesses. Learn more here: claracfo.com/adprun
💸Pay vendors any way they want and get paid faster! Accept credit cards without paying merchant fees! Melio is a fantastic payments solution for every small business! claracfo.com/melio
(As an affiliate or referral partner for these companies, I may earn rewards from qualifying purchases)
Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at claracfo.com/
Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.
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Пікірлер: 7

@lisaledgerwood2525 4 ай бұрын

I love how you blend the small business aspect side of things with the personal side of things. For most small business owners, they are very much blended in reality so acknowledging that and growing from that place is wonderful! I certainly would love to see more videos about blending those two sides of life together. 😄 Thank you for all of your very helpful information!

@ClaraCFO 4 ай бұрын

thanks! I think it's really all about seeing the two as different things altogether and understanding how they work together! I have another video coming out this week on projecting cash flow for personal finances!

@uleidswaleh5002 4 ай бұрын

Thank you soo much.. One love from Kenya

@AlexSudenkov Ай бұрын

Great explanation, thanks!

@shannontalarico9472 4 ай бұрын

Thank you so much this was great. Question, now that I have my small business up and running using quickbooks online, I was thinking of taking a more organized approach to my personal finances also, so this video came at a perfect time because I have been trying to decide the best way to go about that. I was considering creating a second quickbooks online account and using it for my personal finances. Do you think it is better to go with something like Monarch for this side of things? I am definitely open to either!

@ClaraCFO 4 ай бұрын

ha! that's funny because I thought about doing the exact same thing, but then I found Monarch! It works better for personal finances, but works similarly in that you connect your accounts and code your transactions to your budget line items. You can also FORECAST in monarch - which I am pretty obsessed with. Give it a shot because you might find it's easier to manage than QBO for personal finances!

@shannontalarico9472 4 ай бұрын

@@ClaraCFO Thank you so so much!!! I decided to give Monarch a try (they have a special on for Canadian users right now as it only recently became available in Canada I guess). Just an hour in and I already know it is exactly what I was looking for. My husband and I seem to have ended up with so many different accounts in different places that I feel like every day I am logging in and out, over and over, to see where we are and what needs to be done. Now I can see everything in one place and track our expenses together instead of piecemeal. I really do appreciate the timing of your latest video so much, and I appreciate you replying to my comment with great advice. I felt like I could make it work in Quickbooks, but using Monarch even just briefly, I think it is a way better fit for personal finances, and so user friendly. Thank you again!