Try the 50/30/20(ish) Budget Hack for your Small Business

[@Will54rol]

I actually tried something similar with my portfolio. I didn’t follow the 50/30/20 exactly, but I tweaked it a bit. 50% goes into core investments-things like index funds and bonds. Then, 30% I use for more flexible investments, like stocks and opportunities that might come up. The last 20% is my 'safety net,' either cash or liquid assets I can access easily

[@louisahernandez]

That’s a smart idea. The 50/30/20 can definitely work for businesses too. I’ve seen people split 50% into core operating expenses, 30% into growth opportunities-like marketing or hiring-and keep 20% for emergencies or new projects.

[@Bigwilli123]

I like that approach. My challenge is figuring out where to draw the line between core investments and growth. It’s tricky to decide what to prioritize, especially when the market's unpredictable

[@MONROEJACQ]

That’s why I started working with a financial advisor. I had all these ideas on how to allocate my business profits and portfolio, but I wasn’t sure how to balance it out. I’ve been following the 50/30/20 rule for years personally, but Joseph Nick Cahill helped me adapt it for both my portfolio and my business

[@camela8445Mar]

I’ve heard of Joseph Nick Cahill. Does he focus more on businesses or individual portfolios?

[@MONROEJACQ]

Both, actually. He’s helped me with portfolio management and advised me on my business strategy. What I like is how he customizes the approach-it's not a one-size-fits-all. He broke down my cash flow and investment goals, and we built something that fits my needs.

[@NickSoper]

You mean Net Income not Revenue right? If your business spends 50%+30%+20% (100%) of its Revenue it won’t have any funds left for cost of sale like paying your suppliers…. 🧐

[@FitSmallBusiness]

Paying your suppliers should actually fall under the 50% category-it’s essential to keep your business running. For more budgeting strategies, check out this link: fitsmallbusiness.com/how-to-create-small-business-budget/?.com&

[@IGNITEBZ]

I hope that’s what she means.