Are you “borrowing” from your business by stripping it of profit every month?
If you are a sole trader, as many are online, it can be tempting and easy to believe that all the money your business makes is yours to spend. And, in a way, you’re correct. After all, it’s just YOU, no employees to pay and no one will know any different. Right?
By treating all your business earnings as your wage, you are depriving it of any future investment and a buffer when times are tougher.* Believe me, I’m …