I believe that the lifeline of a business is the money and if you run out of money, it could be difficult to keep up with all your business expenses.
At the beginning of this year I decided to spend less and assess what I was spending money on. In fact, I started with my bank statement and I was surprised at what I discovered.
In fact, I’ve been keeping a very close eye on what we were spending money on and closely monitoring the cash flow in the business.
Here’s what I discovered as I audited my business bank account:
- I was paying for subscriptions that I no longer needed.
- My website hosting company was charging me for a service that I did not use.
- We were spending hundreds of dollars on paper plates and spoons.
- I was over spending on insurance and many other unnecessary expenses.
A Childcare businesses comes with a big over head, especially a Child Care Center and it is vital that you cut any unnecessary spending.
After my 3-month spending audit, I saved my business over $3000-$4000 a year just by eliminating buying paper plates and bowls, cutting insurance cost and reviewing every bill that I was paying.
In fact, my cook informed me that cutting paper plates any reduced the trash in the building. So we were literally throwing money away.
I want to challenge you to review your budiness bank account statement and evaluate where your money is going. You are in business to make money not to lose money.
I shared this post with you because I know that Childcare businesses go through many seasons and it is vital that you Know how much comes into your business and where the money flows out.
Let me know how this post has helped you to clean up your childcare business budget.
Dr.Shiketa Morgan
Get my new book, Giving birth to your Dream!
The Child Care Business Owner Institute 
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