Personal Financial Management for Business Owners

When you’re devoting so much of your time and energy to running your business, you may not have the time to give your personal finances the attention they deserve. However, reserving time for your personal finances is one of the best business investments you can make.

This guide has tips on how your personal and business finances can work together.

In this guide, you'll learn about:

• Minimizing your tax-expenses: Examine opportunities for claims, deductions, business-linked benefits, and income splitting.
• Keeping your reporting separate: Have different bank accounts and different credit cards for personal and business. It will be easier to reconcile because only certain transactions will go through each specific account.
• Planning for your future: Set clear goals for both yourself and your business, then work towards them by securing the funds you need, and making the most of you RSP.