My Personal Money Management Blueprint

The majority of my money goes into reinvestment in my business.

The next chunk of my income goes into travel. Although since the lockdown has happened, travel has not been taking up much money.

So for now it goes into the business, or It stays there where it is.

Because apart from these two things I don’t have any other external demands or materialistic wishes. Maybe in the future, I will have, but I have an understanding of it at this point itself.

See, in your money journey, there are three stages. Need, investment, luxury.

So till the time, you know that you have sufficient backup available that even if your business is not generating any revenue for the next one year, you can sustain it at full throttle till then you cannot jump onto spending on luxury. Your business requires you to make investments and reinvestment till that time.

There is one more thing to it. It’s not just about having the backup, it’s also about having a predictable source of revenue. That is something which is the key.

I have had days in which I have made more than 2.5 crores of revenue in just 8 days. But those are some special weeks. Such things are not happening every week.

So until and unless you are not able to predict your monthly revenue with absolute surety, which will only happen when you have a recurring source of business model in which people are coming to you to buy that same product again and again, or you’re selling something on monthly subscription, till then you must hold.

But if that’s sorted, you can make some money out to spend on luxury as well.

So there are two things. One is that you are completely sure that you will be able to take care of your business expenses and the second is that you have a predictable source of income.

You have to think about it by putting yourself into extreme situations. For example, if I talk about my new product FlexiFunnels.

Let’s say if I am not able to make any sale for it for the next 12 months for any reason. Yet for all those 12 months, I have to bear the cost of salaries, the cost of development teams plus the cost of servers and stuff.

So you have to go through the extreme route. You cannot plan out in terms of keeping a backup of just 1 to 2 months. If you have a backup for the next 12 months then you can go for luxury. So that’s how I manage my money.

But yes I love to travel because it helps me in gaining new experiences and I love traveling simply. So I invest there apart from investing it into my business.

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