As a business owner, your personal finance can sometimes suffer when the majority of your net worth and compensation are wrapped up in the success of your business.

For entrepreneurs who are in the startup phase, considering some personal finance tips is important. Have a cash cushion. Make sure that you are prepared by setting aside a one year’s worth of personal expenses in a liquid account for an emergency.

Another tip is to focus on trimming your expenses if you have no large cash cushion. Getting help from family and friends is also another way to make your business running.

For more tips on personal finance, click here.

Posted in tips for small business