87: How Much You Can Pay Yourself & Still Save Money | Save Six Figures Pt. 2
If you’re just starting out on your savings journey, you might not be sure how much you can put away each month from your business. One of the biggest questions I get is how much people can afford to pay themselves and how much they can save, and I’m answering both of those questions in today’s episode. This is part 2 of a four-part series about saving up six figures in cash, so check out part 1 here!
My Money Momentum program kicks off on Tuesday, November 14th! Sign up for the waitlist and get an invitation to my free masterclass - Three Tools You Need to Save $100K - on November 3rd. BONUS: If you attend the masterclass and enroll in Money Momentum by Monday, November 6th, you’ll get a personalized, private cash flow audit and plan from me!
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In this episode, you'll learn:
0:00 Approaching finances holistically
7:07 Why paying ourselves can be such a big issue
12:10 Why “How much can I afford?” is the wrong question to ask
15:02 Crunching the numbers for pay and savings
19:27 What to do if your monthly income is inconsistent
21:02 The caveat for S-Corp owners
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I’m Sarah Young - an entrepreneur, investor, and millionaire mentor for female founders! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, in addition to building my own successful agency, and I started the Profit + Prosper podcast to help you do the same.
Profit + Prosper will help you make more money, save more money, and set yourself up to retire early while upgrading your life - all in a way that’s fun and empowering. In each episode, I’ll share tactical, strategic, and mindset tips to grow your business, increase your profit, and truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
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