Module 5 – Expenses

Module 5 – Expenses

In this final video on our business model, I emphasize the critical importance of managing your expenses and finances effectively, as this will significantly impact your success. I recommend setting aside 25% of your income for taxes and savings, and only after that should you calculate your personal income based on what remains after expenses. It's essential to treat your business finances separately from your personal finances to achieve financial freedom. I urge you to conduct a monthly audit of your expenses, listing all your monthly costs and their due dates, to help with your financial planning. Please take the time to write down your current expenses and be prepared for our upcoming financial review.