Budgeting for Insurance Agencies: Cut Expenses, Protect Payroll, and Know Your NumbersMatt Dietz of Agency Launch shares budgeting advice for insurance agency owners based on coaching a client who was dipping into savings to cover payroll. He emphasizes knowing monthly expenses within 10%, auditing the last 90 days of electronic spending for recurring charges, and tracking major costs like payroll and rent. He suggests payroll at 25% or less of income is strong, notes some agencies run near 50%, and recommends comparing an employee’s 90-day compensation (including taxes) to premium produced to evaluate performance and possibly show select numbers to employees so they understand agency overhead. Using an example of $35,000 in monthly expenses, he outlines options like cutting an underperforming $5,000/month role, forecasting income/expenses with and without that employee, and subleasing oversized office space to reduce rent, stressing that major changes can be temporary and not permanent.00:00 Welcome to Agency Launch00:15 Free Texting Community Offer01:02 Why Budgeting Matters02:05 Audit Your Monthly Expenses04:04 Payroll Benchmarks to Watch05:27 Is This Employee Worth It08:03 Show the Team the Numbers10:42 Big Cuts Payroll and Rent13:57 Nothing Is Permanent Options14:37 Wrap Up and Where to Connect