Top 5 Tips on Building a 6 Month Cash Reserve

!cid_CF682DD0-D4EF-4328-A711-50E49F677CDC The top 5 tips weekly post is always full of hints and tips for small, home & micro business owners.

  • Start getting into the habit of saving each week right now, at the beginning of the year.
  • Add up all your monthly expenses so you can estimate how much money you will have left each month.
  • If you are still in a day job, set aside 5% of your paycheck to start building a reserve.
  • Try to save around £50 / $100 per week and you will soon have a nice financial cushion.
  • Make sure that whenever you draw money from the business you set aside money for tax to avoid nasty surprises later on.

If you have additional tips, please share them in the comments section.

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