Lesson 8 of 8 · 15 min

Run your money like a business

Separating business and personal money, tracking every recurring business cost, paying yourself properly, and knowing your runway.

In this lesson you will

Separate business and personal finances cleanly
Track every recurring business commitment with an owner and renewal date
Pay yourself a steady amount from business income
Calculate runway and burn rate

Education, not advice. This lesson explains general ideas and does not consider your personal situation.

Why think like a business

Freelancers, founders and small business owners often run personal and business money through the same accounts. It works until it does not: tax time becomes painful, true business costs are invisible, and a slow month for the business becomes a personal crisis. The habits of a well-run business fix this, at any size.

1. Separate the money

Use a separate account for business income and costs. Benefits:

True costs and profit are visible.
Tax records are simpler and more defensible.
Personal finances are protected from business swings.

If a business cost is paid personally by mistake, record it and reimburse it properly.

Level 3: Building Financial Resilience

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Budash Academy and the Budash blog are for general education only. They are not financial, investment, tax or legal advice, and they do not take your personal circumstances into account. For advice, speak to a qualified, regulated professional.