Exercise: Make Your Moola Map
"Begin getting a handle on your financial picture by identifying your income and expenses... [L]et's get a visual inventory of where your money comes in (income/sales) and goes out (expenses/costs) by making your Moola Map." - Right-Brain Business Plan, page 106
It is very fitting that this exercise landed when it did. Every year around this time Jarrod & I review our personal budget & this year is no different. Before I post the Jessie Marie Studio Money Map I want to tell you a little story about our personal finances.
We found out that we are not living within our means. Those pesky once a year bills, like car insurance, have come due. For a second year in a row we've had to dip into our savings. This would be fine if we have been saving money throughout the year. We haven't. Our savings was created during the glory days of two incomes & no kids. Over four years ago now. It really is amazing how long the money has lasted. But since the money won't last forever we sat down & created a zero-based budget to start 2013 off with. A budget that accounts for those one time payments & even replenishes our savings a little bit each month. It's going to be really tight. All the more reason to look at how we can increase our income by making Jessie Marie Studio successful.
And with that I bring to you the Money Map for Jessie Marie Studio. I've removed the numbers to keep things confidential. Next up filling out a spreadsheet. Fun times!