I once thought Financial Planning Tips meant “checking my bank account and hoping for the best.”
That was it. That was the plan.
I was sitting in my Queens apartment—window rattling, sirens doing their usual remix—refreshing my bank app like it might magically change if I stared hard enough. It didn’t. Shockingly.
That’s when I realized most financial planning tips for small business owners aren’t taught anywhere useful. Not school or movies. Not even those smug Instagram reels where someone points at floating text like “Just track your expenses!”
Cool. Thanks. Never thought of that.
So this isn’t polished advice. It’s stuff I learned the slightly painful way. Sometimes the embarrassing way. Sometimes the “why didn’t anyone tell me this sooner?” way.
Grab coffee. Or wine. Same vibe about Financial Planning Tips.
1. Separate Your Money (Yes, I Know You’re Avoiding This)
I didn’t open a separate business account at first.
Why?
Because I was lazy.
And optimistic.
And deeply incorrect.
Everything went into one account. Rent. Client payments. Bodega snacks. MetroCard reloads. Chaos.
Then tax season came.
My accountant looked at my statements and went quiet. Which is never good.
Separate accounts = sanity.
Not just for taxes. For your brain.
You don’t realize how much money stress comes from not knowing what’s actually yours.
Do this early. Or later, but with regret.
2. Cash Flow Is the Boss (Profit Is Just the Hype)
I used to think profit was everything.
Then I had a “profitable” month… and couldn’t pay my bills.
Fun times.
Cash flow is what keeps your lights on.
Profit is what looks good on paper.
You can be profitable and broke. Ask me how I know.
Now I track:
• When money comes in
• When it goes out
• And where the scary gaps live
If your business feels stressful for no clear reason, it’s probably cash flow.
3. Stop Guessing. Start Budgeting (Loosely. Very Loosely.)
I hate strict budgets. They feel like diets.
“I’ll never spend money on takeout again!”
Two days later: dumplings.
So I do loose budgeting.
I set ranges. Not rules.
Rent: fixed
Software: capped
Random “why is this so expensive?” stuff: padded
The goal isn’t perfection.
It’s awareness.
Most financial mistakes happen in the dark.
4. Pay Yourself (Even If It’s Awkward at First)
This one messed with me emotionally.
Paying myself felt… wrong? Premature? Like I didn’t “earn it” yet?
Meanwhile, I was working nonstop and pretending burnout was a personality trait.
Pay yourself something. Even if it’s small.
It reminds you this is a business, not a hobby you financially abuse yourself for.
5. Plan for Taxes Like They’re a Jump Scare (Because They Are)
Every year, taxes show up like:
“Hey bestie. Miss me?”
I now set aside money as I earn it. Automatically. No thinking involved.
Because thinking leads to denial.
A separate tax savings account saved me from:
• Panic
• Payment plans
• Existential dread
10/10 recommend.
6. Build a “Stuff Went Sideways” Fund
Stuff will go sideways.
Laptop dies.
Client disappears.
Life happens.
I call this my “business emergency fund,” but emotionally it’s my “don’t freak out” fund.
Even a few months of expenses makes everything feel less dramatic.
And small business is dramatic enough already.
7. Ask for Help Before You’re Desperate
This was hard for me.
I thought asking for help meant I failed.
Turns out it means you’re paying attention.
Accountants. Bookkeepers. Financial advisors. Even that friend who loves spreadsheets (you know the one).
Getting help early is cheaper. Financially and mentally.
Some Random Stuff That Helped Me (Unexpectedly)
• Automating savings
• Monthly “money dates” with myself (yes it’s weird)
• Reading personal finance blogs that don’t talk down to you
• Laughing about mistakes instead of hiding them
Also this site cracks me up when money stress gets heavy: https://theonion.com (financial anxiety needs satire)
Final-ish Thoughts about Financial Planning Tips
Financial planning isn’t about being perfect.
It’s about being honest.
With numbers and habits.
With yourself.
If you’re building a small business and feel like everyone else has it figured out… they don’t. They’re just better at hiding the messy parts.
You’re not behind.
You’re learning.
And yeah—it’s uncomfortable sometimes.
But honestly?
That’s kinda how you know it’s real.
