Building a budget is an important part of your overall financial plan.

This is also the missing financial piece holding back so many Health Professionals.

Almost everyone has business financial goals, but without a budget, you earn and spend money without a plan. How can you expect to hit your goals (or stay accountable to them) if you aren’t properly planning?

The most important reasons to have a financial plan are:

Plan for large expenses.
- If you know that membership dues are paid in December each year, you can set aside sales during the year to pay for these large fees.
- Understanding how much money you must spend per month helps you avoid taking on debt to pay for expenses.
Take stress free vacations or leave.
- Since you are not an employee, you don’t get paid time off. But, you can save money now for when you are not working.
- Planning for a vacation allows you to see how much money you will need in a certain month for your planned expenses. You will then know how much to save beforehand, so you always have enough money to pay your expenses.
Save throughout the year for your income tax payable.
- Your income tax payable is based on a blended rate for your full-year income. When you budget your income for the year, you can save the same percentage each month instead of scrambling in April to pay your tax bill.

A budget is also a great way to set up sales growth goals! You will see in our training that a small increase in patients can lead to a large increase in sales.

This applies to anyone who wants to build up their practice. How motivating will it be to see when you might hit your sales goal?

Ready to build your 2022/2023 budget? Business Foundations: Budgeting teaches you everything you need to know about building a budget as a health professional.

This course will teach you how to budget your business, so you are more prepared for your cash flow and know what your income will look like (hello, properly saving for income tax!)

Stop hoping you will hit your financial goals. Instead, learn how to build a budget you can stick to and become financially empowered.

Registration is now OPEN!

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Have more questions about building a budget? Book a free discovery call to get started.