When it comes to income we need to be realistic here, I often see unrealistic income figures and the number of hours people are willing to put in to their own business.
below are some steps to consider which you will also find in Kyles goals.
- How much you are currently making (current job) yearly
- Decide on how much income you need from your business (cover expenses), yearly
- How much you want to make to cover expenses and lifestyle- be realistic
- Work out how many hours you need to work yearly, again be realistic. Don't forget holidays, sick leave and family leave
I hope this tutorial has help shed some light on budgeting for expenses and income.
I wish you all success!
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