Economics & Education · Income Budgeting Workshop 2
The Language of Money, and Your First Budget
Learn five words that change how you see your business income, then put $35,000 to work and pay the bills.
PART 1 · BUILD THE VOCABULARY
Five words worth knowing
Money gets less scary when you have words for it. Tap each card to flip it.
TERM 01
Revenue
Tap to flip
All the money your business brings in, before any costs come out.
Example: five clients paid you this month. Add it all up. That total is your revenue.
TERM 02
Operating Expenses
Tap to flip
The everyday costs of running your business.
Example: software, supplies, travel, business meals. This is your Operations bucket.
TERM 03
Tax Reserve
Tap to flip
Money set aside for taxes the moment income arrives, kept separate until it is due.
Example: about 25% of every payment moves to an account you do not touch.
TERM 04
Cash Flow
Tap to flip
The timing of money coming in versus going out.
Example: a client owes you $5,000 but pays in 30 days. The gap in between is your cash flow.
TERM 05
Owner's Draw
Tap to flip
The money you pay yourself from the business.
Example: after every bucket is funded, you move your pay to your personal account.
THE FRAMEWORK
One rule to split every dollar
The 10/10/30/50 rule. Savings is your cushion, Investment funds growth, Operations runs the business day to day, and Expenditures covers your taxes (about 25%, confirm with a tax pro), rent, and your own pay. Now put it to work.
PART 2 · YOUR FIRST BUDGET
$35,000 just landed. Budget it.
A big project paid out. Allocate the money, then pay the bills from the right buckets.
$35,000
in the account, waiting for a plan
Savings
$0
10%
Investment
$0
10%
Operations
$0
30%
Expenditures
$0
50%
Economics & Education
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Conteh & Brown Group · SWaM Certified · Women-Owned · Glen Allen, VA · conteh-brown.com · info@conteh-brown.com · (804) 388-8117