5 Simple Money Management Hacks to Up-Level Your Fitness Business

"You don't need to raise money. You need to be smart and be focused."- Mark Cuban

5 Simple Money Management Hacks to Up-Level Your Fitness Business

Hey Fit Pros and Gym Owners! Ready to supercharge your money management game? Let's dive into some fun and easy hacks that will keep your finances in tip-top shape. These tricks are designed to make your life easier and your business more profitable. Let's get started!

1. Make a "Money Date"

Just like you never miss a workout, set aside the same day and time each week for a “money date” with yourself. Spend an hour managing your finances. Trust me, it’s worth the 4% of your week this will take you! Grab a coffee (or a protein shake) and dive into those numbers. You'll be amazed at how much more in control you’ll feel and how much you can get accomplished in just one hour.

Not sure what to do during that one hour? Jump into our private Facebook Group where we share all the details on what your money date should look like.

2. Separate Accounts for Business Expenses

This one’s a game-changer: keep a separate checking account and credit card just for business expenses. Not only does this save you time, but it also makes it super easy to track where your money is going. No more messy personal/business expense mashups!

3. Create a Savings Buffer

Open separate savings accounts for your owner’s pay, profit, and tax savings. This way, you won’t accidentally dip into these funds for business expenses. It’s like having a safety net for your finances..

4. Client Payments Roster

Use a Google Sheet or a CRM tool to keep track of recurring client payments, such as members who train monthly. No more guessing who’s been billed and who hasn’t. This simple system will help you stay organized and ensure you’re getting paid on time.

5. Get QuickBooks or a Bookkeeper

When you’re ready, invest in QuickBooks or hire a bookkeeper. It’s a smart move that will save you tons of time and hassle. You'll thank yourself later!

Need a bookkeeper? We might be a good fit or we’re happy to give you some tips on what to look for in a bookkeeper. Just contact us!

Bonus Hack: Free Income and Expense Tracking Spreadsheet

Not ready for QuickBooks yet? No worries! Grab our free Income and Expense Tracking Spreadsheet and watch this how-to video on setting it up. It’s a fantastic way to keep your finances organized until you’re ready to upgrade.

It's time to take a giant leap towards achieving money management bliss. These hacks will help you stay on top of your finances, leaving you more time to focus on what you love—helping your clients crush their fitness goals! 💪

Ready to rock your financial world? Let's do this!