Your art-related business was connected. This will enable you to decide where your time and money are best spent.
For a start, you must take a look at and write down all your expenses.
You can make better business decisions when you have a clear understanding of your expenses. Can you afford the new studio? Are art fair booth costs
Are you financially successful? The answer to these questions is provided through your budget.
Add all of your recurring expenses to your monthly expense worksheet. This should include all of your recurring costs, not just art.
business). Include rent, utilities, cell phone bill, transportation, internet, loans etc. Ideally, this should total less than or equal to 50 percent of your earnings as per
to the financial planning rule 50/30/20. The 50/30/20 rule suggests that you put 50 percent of your earnings on obligations such as bills and debts, while 30% is spent on "wants," and 20 percent should be spent on savings.