Managing Small Business Finances with Caleb Wojcik
Summary: Caleb Wojcik, co-founder of Fizzle, joins us to discuss managing small business finances and recommends his favorite tools to make the job easier.<br> Matt and Andrew were excited to talk to Caleb because they met through <a title="Fizzle" href="https://www.listenmoneymatters.com/go/fizzle/" target="_blank" rel="noopener">Fizzle.co</a>. Fizzle is an online resource and forum for entrepreneurs looking to start an online business. Because of what Caleb helped to build, Listen, Money Matters exists.<br> Caleb manages the finances for several small businesses including Fizzle, his website, <a href="http://www.calebwojcik.com" target="_blank" rel="noopener">CalebWojcik.com</a> and his wife’s photography company <a href="http://www.jenwojcikphotography.com/" target="_blank" rel="noopener">JenWojcikPhotography.com</a>.<br> Caleb recommends paying small business taxes quarterly. It saves you getting a big bill at the end of the year that you weren’t expecting. Managing finances for you business doesn’t mean you have to do it alone. A skilled accountant can make the process much easier.<br> Xero is a web based program that is a sexier version of QuickBooks. You can track spending and even create invoices through the program. For his personal finances, Caleb used a spread sheet for two and a half years, hand entering every transaction.<br> His wife understandably didn’t want to use the spread sheet so they started using <a title="Mint" href="https://www.listenmoneymatters.com/go/mint/">Mint. </a> Eventually they plan to use <a title="You Need a Budget (YNAB)" href="https://www.listenmoneymatters.com/go/ynab/" target="_blank" rel="noopener">You Need A Budget. </a> Caleb still misses his spread sheet though.<br> If you’re thinking about making the leap from working a 9-5 to working for yourself, having six to twelve months of expenses saved is a good rule of thumb.<br> Managing money for your small business is one of the most important aspects of running it but it doesn’t have to be the most time consuming if you partner with a good accountant and use some of the great technology designed to make it easier.<br> Show Notes<br> <a title="Fizzle" href="https://www.listenmoneymatters.com/go/fizzle/" target="_blank" rel="noopener">Fizzle</a>: online resource for those looking to start a small business online and offline. Check out their <a href="https://www.listenmoneymatters.com/go/fizzle/" target="_blank" rel="noopener">podcast</a> too.<br> <a href="https://www.listenmoneymatters.com/go/xero/" target="_blank" rel="noopener">Xero</a>: Xero is a complete online application to run small business finances.<br>
