Set Up Your Small Business Finances - Profit First Method

Jessica Moorhouse - Canadian Personal Finance โ€ข October 26, 2021
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Jessica Moorhouse - Canadian Personal Finance

@jessicamoorhouse

About

Hi! I'm Jessica Moorhouse and I want to help you stop worrying about money and learn how to use it as a tool to live the life you want. I've been teaching Canadians about budgeting, investing, small business and everything in between for 14 years and I'm here to demystify the world of money. I'm a speaker, money expert on the news (CBC, CTV, BNN Bloomberg), host of the chart-topping More Money Podcast, and author of the National bestselling book "Everything but Money: The Hidden Barriers Between You and Financial Freedom." I'm also a Certified Financial Counsellor (CFCโ„ข) and Qualified Associate Financial Planner (QAFPยฎ). Currently, I offer budget coaching through my Budget Spreadsheet Hub and teach everyday Canadians how to invest through my Wealth Building Blueprint for Canadians course. DISCLAIMER: Videos are not financial or legal advice.

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Video Description

Guess what...you don't need an accounting or business degree to set up your small business finances and ensure your business is not only profitable but you as the owner always get paid too! In this video, I share some of the best advice I learned from one of my favourite books "Profit First", but I also share how I've implemented lots of the book's small business financial strategies in my own business to see a huge improvement not just in focusing my business on increasing its business revenue, but also creating a system that keeps everything organized so I never have to worry about spending too much on business expenses (and not having enough leftover after) or forgetting to set aside money for income taxes and sales tax. If you have any other questions about my setup, please share them in the comments! CHAPTERS 00:00 Introduction 02:15 How My Business Earns Money 06:09 Why You Should Pay Yourself First in Your Business 08:58 Have a Cap for Your Business Expenses 11:48 Set Aside Money for Income Taxes 12:39 Setting Up Your Owner's Pay or Salary 13:54 What Is Profit & What to Do With It? 15:17 How to Set It All Up with Different Bank Accounts RESOURCES Grab a copy of the book I mention, Profit First https://amzn.to/3CwA8Db Wealthsimple's Income Tax Calculator https://www.wealthsimple.com/en-ca/tool/tax-calculator/ Quickbooks Accounting Software - Get 50% with My Referral https://refer.quickbooks.ca/s/jessica34 EQ Bank - Sign Up with My Referral Link & Get $40 When You Fund Your Account with $100 within 30 Days https://jessicamoorhouse.com/eqbank-aff ๐Ÿ”— AFFILIATE LINKS Borrowell https://jessicamoorhouse.com/borrowell-aff Wealthsimple Trade https://jessicamoorhouse.com/wealthsimpletrade-aff Questrade https://jessicamoorhouse.com/questrade-aff 1Password https://jessicamoorhouse.com/1password-aff Willful https://jessicamoorhouse.com/willful-aff Ownr https://jessicamoorhouse.com/ownr-aff Rakuten https://jessicamoorhouse.com/rakuten-aff ๐Ÿ“šGET COPY OF MY BOOK "EVERYTHING BUT MONEY" https://jessicamoorhouse.com/book ๐Ÿ“ˆ WEALTH BUILDING BLUEPRINT FOR CANADIANS COURSE Learn more about my investing course https://jessicamoorhouse.com/course ๐Ÿ’ป BUDGET SPREADSHEETS Download one of my budget spreadsheets to get your financial life together https://jessicamoorhouse.com/shop ๐Ÿ“น MY CAMERA/STUDIO EQUIPMENT Camera https://tinyurl.com/4u2x8ajx Lens https://www.sigmaphoto.com/35mm-f1-4-dg-hsm-a Mic https://amzn.to/3MWCmlN Colour background lights https://amzn.to/3MdYEiU Key light https://amzn.to/3ySPqVW Side lights https://amzn.to/4fKEsTf Backlight https://amzn.to/3XGkW1I MORE ABOUT ME ๐Ÿ™‹โ€โ™€๏ธ ABOUT ME https://jessicamoorhouse.com/about ๐Ÿ“š BOOK https://jessicamoorhouse.com/book ๐ŸŽ™ PODCAST https://jessicamoorhouse.com/podcast โœ‰๏ธ NEWSLETTER https://jessicamoorhouse.com/subscribe ๐Ÿ“ธ INSTAGRAM https://www.instagram.com/jessicaimoorhouse DISCLAIMER & DISCLOSURE The content I produce is for education and entertainment purposes only. Nothing on this YouTube channel, my website or affiliated channels should be considered financial, investment or legal advice, or an endorsement for any type of service, product, or brand. Some links in this description may be affiliate links in which I may earn a commission at no extra cost to you. Please read my disclaimer to learn more: https://jessicamoorhouse.com/disclaimer/

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