How do I say this? We are a in profession (Hair Dressers, Massage Therapists, Skin Care Professionals) that lives by the seat of out Miss Mean Jeans financially. Cash is king and a full book of clients means the money is rolling in and all is well. I feel like an utter failure when my “day” falls apart and there are only a few under $20 appointments on the books. What about planning for a sick day or a sick day for a child or wildly enough planning fora vacation so I don’t feel panicked about a too few week clients before or after I leave town.
“What gets measured gets managed” said the father of business management Peter Drucker. Who has time? Being creative to find and retain clients took all my time until I found this niffy little tool. Mint.com takes the guess work out of numbers. It actually loads the numbers for you from your Checking , Savings, and Credit Card accounts. No more exasperating excel spread sheets where the user errors in entering numbers made me feel, well useless. Go make more money and your problems will be solved is the refrain that would play in my head after an exhausting excel session. I hated the business of business. Mint.com and a business coach helped me to change that tortuous self-defeating mind set.
Mint.com and other tools like it are free and take the guess work out of budgeting and managing your spending. Once accounts are loaded Mint.com goes back 90 days and categorizes your spending. You can manually change or add categories. Now the magical part, Mint.com will create a budget based on your spending habits. Whew! no entering numbers, averaging, or mental manipulation on your part just the cold hard facts. Now you can really see where your money is going!
Two tips to make this work well.
1) Separate business and personal, i.e I created two accounts with two separate logins, passwords and emails. Mint.com sends you alerts and weekly updates via email with graphs and pie charts which are really helpful. “l love me some pie!”
2) Set up your accounts and bill pays electronically. This is a lot easier than you think and guess what? The bank does all the work for you! I actually have my bank cutting the check, stamping it, and mailing- take that you big scary bank monster, now you work for me! Most banks offer online bill pay electronically or by check. Check out my blog specifically on that!
3) Do initial set up on the computer. Although this is a mobile app you can use anywhere any time, doing the initial setup on the computer is easier. In less than an hour you will have every item in a neat category correctly and be setting up reoccurring rules. Much easier than getting your kid to bed on the week end.