Episode 111: How I'm Taking Care of my Business, Team, Family and Myself in This Season

Today, we're getting personal! It can be difficult finding a healthy balance between being a business owner, a parent or spouse, and your own independent person. Julie's chatting with us about how she manages to head her team at GreenOak, prepare for the future of her kiddos and spouse, and take care of herself in between!

EPISODE HIGHLIGHTS

• Emergency Fund
  • Keep your business and personal emergency fund separate
  • Ideally, you want to have about 2 months of expenses set aside in your business emergency fund
  • Having about 4-6 months of expenses set aside in a personal fund is very realistic, especially if you have children
• Budget
  • Keep your business and personal budget separate
  • Review your budget often to make sure you're staying on track
  • Start preparing your budget sooner rather than later
• Key Person/Man Life Insurance
  • The purpose of this type of insurance is to protect your business in case of death
  • The goal of this insurance is to keep your business running and take care of your employees, or to keep the business running successfully long enough to sell it
• Long Term Disability Insurance
  • While the business might be able to continue to support you in cases of long-term disability, it can be a risk (and a burden) on the business

LINKS & RESOURCES
GreenOak Accounting - www.GreenOakAccounting.com
Therapy For Your Money Podcast - www.TherapyForYourMoney.com
Profit First for Therapists - www.ProfitFirstForTherapists.com
Profit First Academy - www.ProfitFirstForTherapists.com/Academy