Chapter 2

Laying Your Personal Financial Foundation

In This Chapter

Evaluating your personal finances before launching a small business

Examining short-term and long-range financial tasks

Valuing and replacing employer benefits

Watching over your money after you’re in business

Whether you dream about owning your own business someday or you’re currently living the reality of being your own boss, you know that money is important. Just as your car won’t run without fuel, you can’t sustain a roof over your head and provide food, clothing, and the rest of life’s necessities if you can’t pay for them.

Likewise, you can’t start your own small business or continue buying what you want and need for your existing business without money. That’s where getting your personal finances in tip-top shape comes into play, and that’s what this chapter is all about.