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CURRENT STATE FINANCIAL PLANNING | [Business Name] [Year]
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INOUTGAPINSIGHTS
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EXPENSESSUBTOTALTOTALMONTHSUBTOTALTOTALMONTHTOTAL
Based on your currrent revenue and expenses, you should
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January0.00January0.00January0.00
have the following in 3 savings accounts at all times:
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One-timePeople0
cash on hand to cover 6 months of expenses
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Ongoing (subscription)Process0
cash on hand to cover emergency expenses (last resort)
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Product0
cash on hand to reinvest
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Overhead (rent, utilities)
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February0.00February0.00February0.00This is the goal that you will work to achieve in your first year or two.
The sooner you achieve this, the more financially secure your business will be from risk of losing investments or customers. However, as with any new venture, start where you can and know that this is something to work towards.
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One-timePeople
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Ongoing (subscription)Process
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Product
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Overhead (rent, utilities)*PRO TIP*
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March0.00March0.00March0.00
1. A good rule of thumb for general savings account is to have
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One-timePeople
enough socked away to cover 6 months of expenses in case of emergency.
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Ongoing (subscription)Process
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Product
2. Use your second savings account as an emergency fund. A good goal is to
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Overhead (rent, utilities)
have the equivalent of 3 months of revenue for onging reinvestment
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April0.00April0.00April0.00
in your business initiatives.
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One-timePeople
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Ongoing (subscription)Process
3. In your third savings account, a good rule of thumb is to set aside
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Product
sufficient for cash on hand expense funds
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Overhead (rent, utilities)
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May0.00May0.00May0.00
4. Used up your savings? That's what it's for. To replenish it,
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One-timePeople
allocate 25% of profits until fund/s are rebuilt.
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Ongoing (subscription)Process
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Product
5. Small business loans and grants are valuable means to ensure you have
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Overhead (rent, utilities)
sufficient for cash on hand expense funds, as well.
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June0.00June0.00June0.00
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One-timePeople
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Ongoing (subscription)Process
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Product
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Overhead (rent, utilities)
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July0.00July0.00July0.00
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One-timePeople
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Ongoing (subscription)Process
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Product
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Overhead (rent, utilities)
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August0.00August0.00August0.00
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One-timePeople
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Ongoing (subscription)Process
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Product
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Overhead (rent, utilities)
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September0.00September0.00September0.00
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One-timePeople
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Ongoing (subscription)Process
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Product
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Overhead (rent, utilities)
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October0.00October0.00October0.00
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One-timePeople
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Ongoing (subscription)Process
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Product
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Overhead (rent, utilities)
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November0.00November0.00November0.00
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One-timePeople
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Ongoing (subscription)Process
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Product
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Overhead (rent, utilities)
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December0.00December0.00December0.00
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One-timePeople
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Ongoing (subscription)Process
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Product
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Overhead (rent, utilities)
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Average monthly revenue
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Average monthly expenses
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Average monthly profit or (loss)
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KEY
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Your figures = use these fields, numbers only
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Formula = don't overwrite; they autocalculate
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*PRO TIP*
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Use numerical figures are numerical only - if Excel or Sheets detects spaces or characters (even $ if it isn't auto formatted), it will not calculate your number)
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