AFFORD IT: THE DECISION CHART

$ REMAINING IN MONTHLY OPERATING BUDGET?

This field is calculated by taking your available monthly operating budget and subtracting your "future fixed monthly burn".

Your "fixed monthly burn" + your "additional expense" = "Future fixed monthly burn".

If this number is more than $0, there is money remaining.

Do you like this number, or does it feel slim to you?

If this number is less than $0, or - ($XXX.XX) there is not enough money in your business account to cover the expense. You still have options, but it's good to know that this number is not self-sustaining, right?

DO I STILL WANT THIS?

Sometimes all you need is to play out the numbers/scenarios to see you’d rather have the money than the thing. That’s okay and it’s a totally valid answer.

Refer back to yesterday's email or "3 Questions" to explore how you feel about this question. "Would I rather have the money or this thing I want?"

Check in with your body.

Does it feel tight and constricted? That could be fear.

Does it feel light and airy and just plain "right"? That could be expansion.

Does if feel fluttery and tingly? That could be urgency or excitement.

DO I WANT TO USE OWNER'S COMPENSATION / (PERSONAL MONEY?)
"Owner’s contributions" is personal money you invest in your business.

You can choose to use money from your personal savings, from other household income, or leverage debt.

Would you rather have the money in an account for something else "one day" or "some day" or have this thing?

When I was building my business, I often wanted to save the money in my accounts for "someday"/ "one day"/ "just in case".

For me, this was running out of money ahead of time: because I wasn't trusting that I'd make more money that I could use later.

However, if the money is truly useful to you in some other context that you and your partner (if it's joint money) agree upon: like for a trip this June, that may be a solid "I'd rather have the money for this specific thing", it's a no for now or I'd like to know that... "there is money for this trip" and money for this thing before I choose to commit to this additional expense.

AVAILABLE OWNER'S COMPENSATION

You can pull money from your personal checking or personal savings.

You can use other income, say from a day job if you have one, or from your partner's paychecks.

You can borrow money from a bank, use a personal credit card.

The questions to ask yourself here are:

Would I rather have this money in the bank, something else, or this thing that I want?

If I chose to use other income, how long/how much do I want to use before I re-evaluate?

What's the end goal? How long am I willing to invest personal money before I see a return? How will I support myself along the way?

How do I plan to pay this money back? How long do I think it will take? How do I want to think about the money I've decided to borrow?

WHAT WOULD I NEED TO MOVE FORWARD?

Here's the individual part:

If your internal knowing is asking "What about...?"

Answer those questions for yourself. Don't leave them out there hanging.

"What about taxes?" Address that.
Do you have a system to set money aside in a separate account so that you don't have to worry over taxes?

"But, shouldn't I have a buffer?" Do you?
Do you have a specific amount identified as a buffer in an emergency fund, in a paid time off fund, in a "$500 is my new $0, the account never goes below $500" rule of thumb?

DO THAT AND COME BACK
When X, Y, and Z are done, come back and ask yourself "Do I still want this?"

Is there $ remaining in the monthly operating business?

Do I want to use owner's contributions?

OWNING YOUR FULL RESOURCES
You’re the only person who will ever know what’s best to do with your money, your time, your energy, and your decisions. For the next few days, it’s my mission to show you how truly well-resourced you are, that you’re the only thing that’s missing from your decision-making skills, and how to start flexing those muscles.