Managing Finances as a Small Business Owner
Table of Contents
- Introduction
- Candle Science Expenses
- Payroll Taxes
- Shipping Labels
- Amazon Expenses
- Email Marketing Platform
- VistaPrint Expenses
- Online Labels
- Uline Expenses
- Shopify Payments
- Hive and Honey Expenses
- Vendor Event Fees
- Business Checks
- Kajabi Expenses
- QuickBooks Expenses
- California Candle Supply Expenses
- Additional Expenses
- Income Breakdown
- Conclusion
How Much I Spent in a Month as a Small Business Owner
Starting a small business can be a daunting task, especially when it comes to managing finances. As a small business owner, it's important to keep track of expenses and income to ensure that your business is profitable. In this article, we'll take a look at how much I spent in a month as a small business owner.
Candle Science Expenses
One of the biggest expenses for my candle business is fragrance oils. I purchase all of my fragrance oils from Candle Science, and in the month of September, I spent $529.24 on fragrance oils. This was due to fall and winter coming up, and I needed to stock up on scents for the holiday season.
Payroll Taxes
As a small business owner, I have to run payroll on myself every month. This means that I have to pay payroll taxes, which cost me $364 in the month of September.
Shipping Labels
Whenever I have to ship out a product, I have to purchase shipping labels. In September, I spent $293.68 on shipping labels from Pirate Ship.
Amazon Expenses
I use Amazon for various supplies for my business, and in September, I spent $62.30 on Amazon.
Email Marketing Platform
I use Klaviyo as my email marketing platform, which costs me $45 a month. This platform is hooked up with Shopify, and I use it for all of my automatic and promotional emails.
VistaPrint Expenses
I had to reorder some candle care cards from VistaPrint, which cost me $83.33. These cards are included in wholesale orders and are about the size of a business card.
Online Labels
I purchase all of my product labels from Online Labels, and in September, I spent $606 on labels for my products.
Uline Expenses
I purchase all of my shipping supplies from Uline, and in September, I spent $391.45 on boxes, packing peanuts, and other supplies.
Shopify Payments
I use Shopify for my website, and in September, I spent $94.99 on Shopify payments. This includes paying for the subscription to Shopify apps and other apps that I use.
Hive and Honey Expenses
I purchase all of my wicks from Hive and Honey, and in September, I spent $165.31 on two separate orders for different sized wicks.
Vendor Event Fees
I participate in vendor events, and in September, I spent $275 on event fees for two events in October.
Business Checks
I write checks to myself for transferring money from my business account to my personal joint account. In September, I spent $376 on business checks.
Kajabi Expenses
I use Kajabi for my digital courses, and in September, I spent $199 on the platform.
QuickBooks Expenses
I use QuickBooks to keep track of all of my expenses and income for tax purposes. In September, I spent $81 on QuickBooks.
California Candle Supply Expenses
I purchase all of my jars from California Candle Supply, and in September, I spent $856.19 on reordering jars, wick stickers, and pouring pitchers.
Additional Expenses
After realizing that I forgot to include PayPal in my initial expenses, I went back and included them. I spent $9.99 on my Adobe subscription, $27.45 on clearbags.com for cavity molds, $12.95 on the pro version of Canva, and $7.99 on Thematic for music.
Income Breakdown
In September, I made $1,869.33 from Shopify sales, $2,247.68 from Fair income, $5,556.48 from Kajabi sales, $119.81 from Etsy sales, $2,679.68 from YouTube income, and $535.53 from affiliate sales. The total amount that I earned in September was $7,961.58.
Conclusion
Managing finances as a small business owner can be overwhelming, but it's important to keep track of expenses and income to ensure that your business is profitable. In September, I spent a total of $3,347.19 and earned a total of $7,961.58. It's important to note that every month is different, and expenses and income will vary based on what's going on in your business.
