Every Entrepreneur should have buckets for their money and the decisions for where their money should go are set before your money comes in. The number 1 money rule needs to be set aside money for tax time. Simple Money Rules * Run a Profit and Loss Monthly * Put away money for taxes into a separate account. Rule of Thumb (30%) * Pay yourself * Giving (10%) * Necessities (10%) * Low Risk Investments (10%) * High Risk Investment (5%)
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