Lately, I have been taking a lot more care in trying to get an accurate picture of our income at any time. I know I should already be doing that, but it’s sometimes easier just to wait for the 1099’s to arrive at the end of the year and calculate up taxes. I decided not to keep doing that and it was a much more sound practice to start a spreadsheet to keep track of all income and expenses.
What has prompted me to do this? First off, as I expand my business ventures, I need to better keep track of expenses and income. It’s hard to make good business decisions if you don’t have a complete picture of your income and expenses at any time. I hope to start making up some good business reports soon enough to focus efforts on more profitable areas of my business.
Secondly, and most importantly, I have decided that one of the biggest values we can exchange is the idea of abundancy. The more abundant our income is, the easier it is to give to charity, or so goes the reason, but lately I have been taking a different path. What if giving to charity and feeling that abundance causes your income to increase? I am willing to test it out and make a lifestyle change.
From now on, 10% of my income goes to charity. In order to keep track of how much to give, I need a good record of my business income. The spreadsheet solves the problem.