My Monthly Financial Recap Ritual

I work best with a goal in sight and a visual to lead me there. I made this revenue goal tracker in 2017 and have been tracking consistently ever since. This sits in plain sight and holds me accountable to knowing my financials.

While I go through my monthly financials regularly on Instagram, I’m sharing the step by step process with you here.

Step One.

Pull a report on home much income you brought in. I love dubsado for this, you can sign up for a free trial with them here.

Step Two.

Review your expenses from the last month. I’m an avid credit card swiper as it keeps it all in one place. I never let me balance rollover with my credit card,. If my company DOESN’T have the money, we simply don’t buy it.

Step Three.

Pay your bills in full.

Step Four.

Take your INCOME x .38 (or whatever percentage you need to put aside for taxes/savings).

Income amount is BEFORE expenses.

I chose 38% because I like to overshoot. This leaves me with an abundance of money at year-end. After I pay my taxes I am able to take the leftover savings and divide it into 2. Half goes to a year-end bonus to me, half goes to my companies savings. Some years that bonus is 5k, other years it’s been 10k.

Step Five.

I pay myself my monthly salary.

Step Six.

Plan for your next month. I do this by taking my invoices that are due in the month and adding them up.

They go in the “expected” column, this is your EXPECTED income. The income you have already billed out for, you just have to complete the job.

Step Seven.

Brainstorm 3 ways you can increase that expected income. I like to write these down on a sticky note and place it on the tracker, again I’m a visual person.

I brainstorm based on what I have going on. If I have a bunch of room in my calendar, my goal is to book another client.

If my calendar is full, what sessions could I upsell?

What do my future months ahead looking like, can I presell?