How to Budget Your Own Salary

December 22, 2010  |  

(Entrepreneur) — You’re the business owner and you set the budget, so the size of your paycheck is entirely up to you. But while the freedom of setting your own salary sounds great in theory, in practice most business owners find it a tough call. Should you pay yourself what you need to cover expenses? What your business can afford? The salary you left behind to launch your business?  Your best bet is to factor in all three, and more. For your business to succeed you might consider taking a temporary drop in income. On the other hand, paying yourself far less than you’re worth, or nothing at all, paints an unrealistic picture of the viability of your business for you or potential investors.

Read More…

Trending on MadameNoire

Comment Disclaimer: Comments that contain profane or derogatory language, video links or exceed 200 words will require approval by a moderator before appearing in the comment section. XOXO-MN