What is on your nail wish list? Do you need a new tool or a class? How about a trip to a networking event or trade show? While you may hopefully be bringing in some extra income from holiday clients or thoughtful tipping, it’s a good time to stash a bit away to invest in yourself. The big purchases are the hardest to budget, however some thoughtful planning during your most profitable times can make them a reality.
For example, let’s say you would like an autoclave or a trip to a networking event. To make for easy figuring you need $1,000. That’s a lot of money all at once. However, if you put $100 a week towards it during your busiest weeks and $50 the others, you could eventually get there. Let’s say you were super busy for two weeks in November and three weeks in December, so you set aside $500. Then you would only need to set aside $50 each week from January to mid-March.
Sometimes just looking at the larger business expenses from a broken-down perspective can help make them a little less overwhelming. Keep this in mind for the coming year and just set the amount each week in your savings depending on how busy the week was and you will be surprised how much easier your larger purchases or travel plans become.