Simple & Effective
Ways to Focus on Monthly Expenses
Keeping track of Monthly Expenses is like giving notes during rehearsal.
Imagine collecting notes throughout the entire rehearsal process, only to give them to the dancers once you get to the performance venue.
You’d have: One. Hot. Mess.
It’s the same thing when you take everything to the Accountant only at tax time, thinking they’ll just take care of it..
Accountants don’t go melt into a puddle of tears in the dressing room… They charge you higher fees because it’s crunch time.
Focus on Monthly Expenses to help you know where you are with your money. Having a general idea of what you earn each month is only part of the equation.
Know what you earn.
Know what you spend.
- Make a List. Use this checklist to help with consistency from month to month.
- Write them down.
- Type them in a simple spreadsheet or document. Try this one.
- Enter them in a Bookkeeping software.
Keep it simple to be effective.
- What organization did you pay?
- How much did you pay them?
- When did you pay them?
What are Monthly Expenses anyway?
Payments you issue for bills or items you buy every month. i.e. Rent/Lease, Loan Payments, Utilities, Internet, Supplies, Ads, Insurance (all the kinds) Try out this helpful Checklist.
Knowing where you are with your money on a consistent basis helps you manage it better.
Better management allows you to make wise decisions on how your organization operates.
Consistent wise decisions help increase profitability. For non-profits, they help increase eligibility for grants & funding.
Need a simple spreadsheet? Download this one.