Now, Figure out the Money
Start tracking expenses and income right away. You can do it on a computer spreadsheet or in a notebook if it’s not too many. Make sure this is a profitable enterprise, not a hobby. If your intent is to make money, make sure it really is bringing in a profit. Total it up at least monthly to see how you are doing. If you used any credit cards to start out, pay them off in full as soon as possible. Profits should be used as planned – hopefully for an emergency fund, towards a large purchase, or to invest.
How is your adventure doing? Share your experiences here. Learn more about taking control of your money at www.moneywiseadvisors.com