Money are Best Spent

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Your art-related business was connected. This will enable you to decide where your time and money are best spent.

 Your art-related business was connected. This will enable you to decide where your time and money are best spent.

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 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.

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 Add all of your recurring expenses to your monthly expense worksheet. This should include all of your recurring costs, not just art.

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 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

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 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.

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