That is because nobody ever let you know that the position gives you a horrifying responsibility of managing finances as a CFO. You imagined yourself to get away with accounting and all other spreadsheets work. No, they do not go away with that. The level of your money management is determining what you will eat this month – either steak or ramen. It’s time to take care of your account as you did for the client list.
The feast or famine syndrome is something that you need to get used to. You cannot spend all the dollars that come into your accounts this month. You should create a buffer zone between your earnings and your costs.
– Pay Yourself a Salary
Do not treat each invoice payment as a sum of your spending money. Every month transfer a certain amount of money into your personal checking account at the beginning of each month. Spend this amount regardless how much you have earned this month.
– Separate Everything
A rookie mistake that results in severe financial