Your Business on Purpose

E101: 5 Essential Savings Strategies For Your Business


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Hey there, entrepreneurs and business owners! Are you tired of feeling like you're constantly playing catch-up with your finances? You've probably been told to just focus on putting money into a savings account, right? But let's be real, that approach can leave you feeling stressed and unprepared when unexpected expenses pop up. Sound familiar? It's time to break free from the cycle of financial anxiety and take control of your savings in a way that truly works for you. Let's explore a smarter, more effective approach to building financial stability and growing your wealth.

In this episode, you will be able to:

  • Discover effective types of savings to secure your entrepreneurial future.

  • Understand the benefits of short term vs long term savings for your business.

  • Learn the crucial importance of having an emergency fund in place as an entrepreneur.

  • Uncover the power of using a hills and valleys fund to navigate financial fluctuations.

  • Explore innovative strategies for growing wealth and making smart investment choices.

  • Life could never be a smooth road. It wouldn't be any fun. But this will help us to endure those times. - Dawnette Palmore

    Learn the Importance of Emergency Fund
    Building an emergency fund is a crucial aspect of financial preparedness for entrepreneurs. Having a safety net for unexpected events or financial challenges can provide peace of mind and stability. By prioritizing an emergency fund, entrepreneurs can navigate uncertain times with confidence and resilience.

    The resources mentioned in this episode are:

    • Visit the website yourmoneyonpurpose.com for personalized assistance with financial planning, mindset coaching, and business strategies.

    • Email [email protected] to inquire about tailored services for your specific business needs.

    • Connect on social media platforms by searching for @yourmoneyonpurpose to stay updated on valuable tips and resources for intentional business and purposeful living.

    • Explore tax strategies and insurance products with trusted agent Melissa Northway, specializing in helping business owners with financial planning and investment opportunities.

    • Consider reaching out to me for guidance on when to hire, scaling your business, growth strategies, and other financial planning needs.

    • Get Dawnette's Free Business Owner Checklist here

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      Your Business on PurposeBy Dawnette Palmore