Ch. 1, Ep. 1: Making time to manage your money

You’re listening to ‘From Dollar One’ by Interac: An audio series for entrepreneurs, freelancers, and anyone with a side business looking for quick tips and ideas aimed at helping you manage cashflow, avoid financial burnout, and hit your money milestones. This is chapter 1 – Pay and Get Paid.  

We know you’re busy. You’re time strapped. You want practical advice to help you stay in charge.  

From Dollar One episodes are made to do just that: bringing you a smart tip, idea or insight to help you manage your business—in just a few minutes.  

If you want a crash course to help you: 

• Understand basic payments lingo 

• Keep track of your cashflow 

• Streamline your business payments and  

• Get paid  

• ‘From Dollar One’ is for you.  

And if you like what you hear, we have more resources that you can check out at our From Dollar One Hub by visiting: Interac.ca/dollarone.

Alright! Let’s get started. This tip is about making time to manage your money.  

From the small stuff like taking time to chip away at bills and invoices to the big stuff like setting sales targets and tracking business trends, carefully planning ahead and budgeting for your business can help save you time, money, and most of all, spare you unnecessary headaches down the road.  

But for most solopreneurs, finding time to do that can be tough.  

That’s why shifting your mindset from finding time to making time is critical.  

Block off a specific day and time in your calendar each week dedicated to finances and bookkeeping. That could mean getting all your bills paid and recording your week’s sales, to sending out reminders to clients for any outstanding invoice payments.  

By the way – if you use Interac e-Transfer you can use the Request Money feature to automatically send follow-up reminders to clients who still owe you.  

Let Interac help with the awkward “your invoice is overdue” conversation.  

Plus, when you have Autodeposit set up, the money transfer you receive will be deposited automatically into your account. 

When it comes to longer-term financial planning, make time once a month to update your sales targets. Sales targets aren’t set in stone, but they are helpful to keep you working towards a goal.  

And, if you’re looking for a tool to help you keep track of your finances, we have a balance sheet template that you can download directly from the link in the description. 

[OUTRO] 

Thanks for listening! And – if you’d like more business tips sent straight to your inbox, be sure to sign up for our newsletter at Interac.ca/dollar one. Coming up next, we’ll be talking about the difference between gross margin and net profit margin.