Know Your Worth

In this bittersweet episode, Kristen and Sydney discuss the tough yet necessary decisions we've made in business to refocus and grow.Sydney shares her decision to close Maverick, her co-working space, as well as put a pause on the Know Your Worth Podcast. Tune in to hear: An easy way to think about decision making in your business that will help you grow every timeWhy Sydney is closing a business and making several changesHow to navigate feeling like something failed when it's no longer working for you

Let's be honest — figuring out how to get a mortgage when you're self-employed is a bit more complicated than if you had a W-2 job. Lenders want to see that you have a steady income, but without a consistent paycheck, that becomes more difficult (even for super-high earners!) Sydney just bought a new home and in this episode, she's breaking down the entire process and exactly how home buying for self-employed professions is different and what you should consider if you have owning a home on your vision board within the next 1-3 years. 02:00 — The importance of proper bookkeeping and documentation 05:30 — How lenders view self-employed income differently 11:00 — Tips for improving your debt-to-income ratio13:30 — Navigating the pre-approval process as a business owner 17:00 — Common pitfalls and hidden fees to watch out for

How do you break through a scarcity mindset with money when that's been ingrained in you since childhood? Even if you had your basic needs met, if you didn't grow up around abundance, it's going to be so much more difficult for you to even believe that's possible to create.In this episode, we sit down with Annie Davis, a former classroom teacher who made the transition to becoming an insurance agency owner and work-from-home mom. Annie shares her personal journey of navigating the ups and downs of money management, from the scarcity mindset she grew up with to moving towards an abundance mindset as an entrepreneur. Tune in to hear: 10:33 — Strategies for overcoming a scarcity mindset and embracing an abundance mindset16:28 — Tips for outsourcing and delegating tasks to free up time and scale your business14:09 — Insights on the importance of separating personal and business finances17:14 — Advice on hiring the right team members to support your growthCONNECT WITH ANNIE DAVISAnnie is a former classroom teacher for 10 years. Now she does social selling for a direct sales company ongoing and is also insurance agency owner and work from home mom!

What comes first — growing your business and then hiring or hiring so you can grow your business? For Raquel and Anika, the sisters behind Glam to Go, a successful mobile hair and makeup business, they realized they needed to outsource and delegate if they wanted to grow. They discuss their biggest financial mistake was trying to do everything themselves, from bookkeeping to scheduling clients.They share how this was costing them money and how they learned to delegate tasks and hire the right people so they could focus on their strengths and grow their business beyond what they thought possible.Tune in to hear: How to identify when it's time to outsource tasks in your businessTips for hiring the right people who align with your company valuesThe importance of networking and building relationships in your industryStrategies for balancing family dynamics when working with a siblingHow to stay passionate about your business even during challenging times

Have you ever invested in an offer that sounded amazing, only to realize it wasn't what you expected? In this episode of the Know Your Worth Podcast, Hannah Samlall, co-founder of Waterloo Street, shares the worst investment she made, and what she learned from it to avoid making that mistake again. Sydney, Kristen, and Hannah chat through the type of research you should do before investing in a coach or service provider, the most important thing to validate before you sign up, and how you can use the power of delay to buy smarter. Plus, Hannah shares her experience growing a business with repeat customers and the money mindset that's supported her as a business owner. 14:07 — The surprising way you can relate researching clothing purchases and business investments 25:31 — How Hannah has created a “ladder” that creates repeat clients 26:20 — Hannah's "sexy money goal" and the mindset shift that comes with leveling up your lifestyle 28:55 — Hannah's favorite money mindset belief CONNECT WITH HANNAHHannah Samlall, co-founder of Waterloo Street in Pittsburgh, is a digital marketer turned website designer with a passion for supporting women-owned businesses through the Biz Collective. With expertise in public speaking, social media, and copywriting, Hannah excels in creating visually stunning and functional websites. Outside of work, she enjoys exploring local breweries, watching Gilmore Girls with her cats, and sharing her foodie adventures on Instagram. A Virginia Tech alum, she thrives on connecting with others and is always eager to meet new people and share her diverse interests.https://www.linkedin.com/in/hannahsamlall/https://www.instagram.com/hannahsamlall/

When Alysa Gumto was a child, her dad was diagnosed with MS and told he could no longer work.Her family went from two incomes to one. While this might have created a mentality of lack for many people, this moment actually helped Alysa realize that she wanted to make her own money and needed to manage it well. In this episode, she shares how from just 12 years old, she started making her own money, saving it effectively, and how the choices and skills she learned during those years allowed her to graduate college debt-free, buy her cars with cash to avoid heavy interest rates, and buying on a house by herself by the age of 27. She shares how she prioritizes her financial goals and why she doesn't consider the choices she makes around her money to be sacrifices. Tune in to hear: 02:25 — A devastating moment during childhood that defined Alysa's relationship with money 12:43 — How what we witness in childhood about money vs. what we're taught can differ 15:10 — Why you're not “sacrificing” when you're making choices that align with your specific goals 22:08 — 2 things that have allowed Alysa to save for big money goals CONNECT WITH ALYSA GUMTO Alysa Gumto has 5+ years of experience as a Social Media Manager. She's also a speaker and podcaster. She loves a good strategy to impact the bottom line. https://copyfol.io/v/alysagumtohttps://www.linkedin.com/in/alysagumto/https://www.instagram.com/tellingitlikeitiswithalysa/

Are you hiding bags and bringing them in? Is your partner mad at you because you both agreed not to spend on something and you went and did it anyways?Emotional and impulse spending always have a cost beyond the financial side of it. In this episode, Sydney and Kristen explore the psychology of emotional buying and how our spending habits affect our mental health just as much as our financial health . They explore how your childhood experiences, money scripts, cultural influences, and societal norms influence your spending habits. The duo also shares their personal stories to illustrate how their upbringing shaped their spending habits and discuss strategies for recognizing and managing emotional buying. 01:18 — Exploring the Psychology of Emotional Buying 02:00 — Childhood Influences on Money Habits11:29 — The Impact of Social Media on Emotional and Impulse Spending13:44 — Why You Need to Define Money Values17:56 — Strategies for Managing Emotional and Impulse Spending

When you're in the thick of it, learning how to manage financial anxiety can feel really overwhelming to overcome. (Or it can feel like the only solution is to win the lottery and never have to think about money again.)Financial anxiety is so common no matter your income level or skill set — it's linked to our security and what we need to survive. In this episode, Kristen and Sydney are sharing the insights as to why the connection between mental health and finances is so strong, anecdotes about their personal challenges with money, and actionable advice you can start implementing today for how to manage your financial anxiety. 01:32 — Understanding the connection between mental health and finances14:09 — Why you need to have a simple budget to begin alleviating financial stress15:47 — How to better focus on what you can control 21:54 — Seek social support and understanding different perspectives26:18 — How practicing mindfulness and stress reduction can help you have a different relationship with money

Whether you're a new or established business owner, figuring out exactly what you need to know to manage and protect your business finances can make a huge difference in the success of your business.When we work with new clients at Know Your Worth bookkeeping, we see even the most established businesses missing or overlooking some key elements for how to best manage and protect their finances. In this episode, we're breaking down exactly what you should be considering when it comes to your business finances so you can be sure you've set yourself up properly and your revenue is best protected. 02:21 – Setting up a bank account10:45 – Income and expense tracking13:22 – Insurance16:36 – Contracts

Knowing your numbers is important, but so is your money mindset. Money mantras can be a simple way to reinforce what you want your relationship with money to be in this season and use it as a daily reminder that can help you take actions that align with that energy. Throughout different seasons of our lives, we can get so stuck in our current thinking, patterns, and financial situation. Tune in for 10 money mantras to create a better relationship with your money plus how to remember the money mantra you're working on

If you currently feel overwhelmed with your money and business finances, it's important to remember that money is just a skill. We didn't all wake up one day knowing all this information about how to manage our money and business finances.That's why, in this episode, we're sharing the top five financial tips shared by our listeners that have helped them the most in their financial journeys as they grew their businesses. 01:22 — Why you always want to have a financial professional you can consult with 03:01 — The importance of recognizing where you need more financial education rather than being money-avoidant 06:12 — How Accounting Software and Tools can help fill in gaps in your knowledge and skill 12:27 — Why you may want to consider diversifying your revenue streams 14:14 — The connection between money and a positive mindset and resiliency

When we start working with clients, about 25% of the time, we see errors with how they've set up and managed the chart of accounts in QuickBooks. The chart of accounts is the listing of accounts that you use to categorize transactions, which then turn into your financial statements. When you don't have this set up correctly, it could look like you have more income or cash on hand than you really do, cause you to over- or under-paying taxes, and have the wrong data to base decisions on. 01:17 — What is the Chart of Accounts? 02:15 — Why choosing the wrong account types is so common in QuickBooks 07:59 — How the wrong accounts gives you the wrong data and can cause you to over- or under-pay in taxes09:54 — Understanding how to correct this error and how the severity of it can add up by over-paying taxes and having someone fix it for you11:19 — What to expect during a QuickBooks Clean-Up15:43 — Utilizing AI for Chart of Accounts for your industry If, after listening to this episode, you realize you haven't set up your accounts in QuickBooks properly, now is the time for a cleanup so you can keep your books and numbers accurate for 2024. This cleanup is very personalized depending on your business needs and will be discussed during our discovery call. You may be new to Quickbooks OR you're looking to re-categorize existing transactions, reconcile accounts, examine journal entries, etc. First, we'll understand your goals for a QuickBooks clean-up, such as re-categorizing existing transactions, reconciling accounts, examining journal entries, etc. Then, you'll give us access to your QuickBooks so we can see what your current setup looks like, how long you've been in there, and see if any mistakes need to be amended. We'll provide you with a custom quote based on what your project needs along with an estimated timeline, and walk you through our recommendations. Clean-ups can range in price but start as low as $400 for a simple cleanup and $1,200 a month for more complex fixes. If you're not in QuickBooks yet, but realize you're at the point where you need to be (but want to ensure it's set up correctly), we also offer a QuickBooks Set Up service starting at just $250. That way, even if you're not quite ready to outsource your monthly bookkeeping, you can feel much more confident that it's set up properly. Book your call with us here!

Wondering what it's like to be in the room of some of the most badass female founders like Elizabeth Elting, Suneera Madani, Rebecca Minkoff and Alison Wyat?The Female Founders Collective hosted a Build Your Empire Conference in New York City on Female Founder's Day and gathered the most successful founders. Sydney attended this conference and is sharing her 7 biggest takeaways from it with you! Tune in to hear: 06:50 — Key Takeaway #1: Plan for Different Types of Exit Strategies in Your Business07:46— Key Takeaway #2: How Contracts with EVERYONE Can Protect You from Things Going Wrong09:02 — Key Takeaway #3: Unicorn Suneera Madani's #1 Skill for Women CEOs to Master 12:05 — Key Takeaway #4: The importance of fun and experimentation in business14:50 — Key Takeaway #5: How women entrepreneurs can invest in other women entrepreneurs 22:43 — Key Takeaway #6: How to Develop a Great Team26:21 — Key Takeaway #7: Why you need a clearly defined purpose for your businessFemale Founders Collective: Tenth HouseYou Are a Badass at Making Money: Master the Mindset of Wealth by Jen Sincero Clockwork: Design Your Business to Run Itself by Mike Michalowicz

Knowing your numbers and understanding your financial statements is crucial to running a profitable and growing business.There are three financial statements that every business owner should be creating and using, or having a team member or bookkeeper create and review with them to get the full financial picture of your business. In this episode, Sydney breaks down the 3 financial statements you need to be using in your business — plus what they look like on the personal side.You'll learn: The top 3 financial statements you need to use in your businessThe common problems business owners run into with managing each of these financial statementsWhat situations you would want to use each of these statements for

We know — reconciling bank and credit card accounts is probably the unsexiest topic we could have an episode on. But, account reconciliation is crucial if you want to scale your business, and so many business owners we see are getting it wrong. Truth be told: it's preventing them from growing. Accurate numbers are essential for understanding your financial picture, and reconciling your bank and credit card accounts every month helps you do just that.Without proper reconciliation, you could be double-counting your expenses or excluding income — both of which can affect your profit margins and cause you to make decisions without the right information. Tune into this episode to discover why monthly reconciliations are a must for financial accuracy and how they impact your business beyond tax season.We're covering: 03:29 — Why your QuickBooks and bank balance need to match and how it can affect you if they don't06:47 — How to reconcile your credit cards and what to look out for when you have more than one card 08:03 — The biggest red flags we see with clients who have tried to reconcile accounts themselves12:08 — What larger or more complex companies need to reconcile regularly in addition to their bank and credit cards

Do you use Paypal or Venmo for business? Maybe you're at a trade show or working with a contractor on a one-off project, so the easiest thing that comes to mind is to pull out your phone, scan the QR code and you have an easy way to give or receive payment. But using Paypal or Venmo can create a few challenges when it comes to your bookkeeping, like not accurately reporting your income.If you're like Kristen, you might be thinking, “jail time!”And although you won't necessarily go to jail or get hit with a large fine, there can be implications and you do want to make sure you know how to best report this income. Tune in to hear some of the common Venmo and Paypal mistakes you might be making and what you need to do to fix it so you don't end up in trouble with the IRS. Understand why using PayPal and Venmo have their benefitsUncover the potential pitfalls that can turn your record-keeping into a mess, from undeposited funds to handling invoicesDiscover the 1 simple action you can take to never miss recording a Paypal or Venmo transaction

Reinvesting all of the money you earn back into your business isn't a retirement strategy. While it can feel a lot sexier to bet on yourself and your ability to grow, it puts you at a huge risk if anything happens in your business and it's not able to provide you the retirement fund you wanted. But saving for retirement feels daunting for a lot of business owners. When we were at 9-5 jobs, our employers would just take some money and put it into a 401K. We barely thought about it. If this is you, tune into this episode to hear the different types of retirement accounts you can consider (some of which even help lower your taxable income to save on that tax bill!) You'll understand the different account types to know what to ask your CPA and you can work with your bookkeeper (or us here at Know Your Worth) to help know how much you can sustainably pull from your business to contribute to your retirement. 03:27 — Re-investing into your business isn't a retirement strategy 05:16 — The easiest (and best) place to start contributing to your retirement fund as a business owner10:49 — Understanding the penalties for taking money out early14:53 — When should you work with a professional or set these up yourself? 16:41 — Why you don't want to wait to start investing

If you're DIYing your books, you likely don't know when to use accrual vs. cash basis accounting. This is one of the red flags we see when new clients start working with us. Most sole proprietorships, single-member LLCs, and S-corps are using cash basis accounting because it's simple — it's the cash you've collected. But if you are ready to scale your business, you need to understand and use accrual accounting, which is going to allow you to know when (and how much) you can invest in additional expenses and how to maintain a cash-healthy business so you never find yourself unable to pay yourself or your bills. Tune into this episode to learn the differences between accrual vs. cash basis accounting, when to use each one, and how understanding accrual accounting is going to make it more sustainable for you to scale. 01:31 — What is Accrual vs. Cash Basis Accounting? 03:45 — When to use Accrual vs. Cash Basis Accounting05:43 — How Looking at Accrual Accounting Can Help You Make Better Financial Decisions to Scale Your Business12:22 — Mistakes to Lookout for When Using Accrual vs. Cash Basis Accounting

Even though we know we *should*, we don't always remember to (or aren't able to) put every business expense on our business card. You might be out running an errand and pick up some office supplies and realize you only have your personal card with you. Or maybe you get more points for buying your business travel flights on your personal travel card rather than your business card. When we get new clients that have been doing their own books, we see they are forgetting or they don't know they can add transactions that they paid on personal cards and missing out on deductions. In this episode, we get into how you're missing out on deductions and a couple of sneaky places deductions might be hiding that you need to check. 02:54 — Why you need to maintain as much separation between personal and business as you can to protect yourself07:24 — How you can reimburse yourself for business expenses when you put them on a personal card10:29 — 3 additional places business expenses might be hiding that you forgot to track

While you may be used to tracking your expenses, the home office deduction is a little more complicated (thanks IRS) than simply adding a line item to your books. There are several rules and limitations for a home office, how much you can write off, and how to properly claim that deduction with the IRS. If you're self-employed or an independent contractor working from home most often and you're not leveraging the home office deduction or you've been adding it to your expenses but aren't aware of the limitations, rules, and forms you need to claim it properly, this episode is for you! 01:36 — How to know if you qualify for the home office deduction, especially if you don't always work from home or in the same room08:33 — Limitations to know about a home office deduction so you don't create a red flag with the IRS10:44 — The forms you need to use the home office deduction MENTIONED IN THIS EPISODE

We've seen it all when it comes to looking over business owners' books, but there's one bookkeeping mistake that we see again and again: undeposited funds.Undeposited funds is an account in QuickBooks Online, and it is an automatic account that is created if you are invoicing out of QuickBooks. If you see that account growing, it's a big red flag. Tune into this episode to understand: 02:51 — What are undeposited funds03:29 — Why undeposited funds create issues on your financial statements05:35 — How undeposited funds happen11:47 — How undeposited funds might be making you double-counting your revenue 12:31 — Why remedying undeposited funds is crucial for tax savings13:44 — How to spot the warning signs of undeposited funds on your balance sheet

As your business grows, reporting sales tax gets a whole lot more complicated. From adding new types of products or services with different sales tax requirements to navigating the different sales tax laws in different states, the more your business grows, the more complex collecting and reporting sales tax becomes. In this episode, Sydney and Kristen explore what you need to know about sales tax so you understand how it evolves as your business grows and the role your bookkeeper can play in supporting you with collecting and reporting the right amount. Tune in to hear: 03:28 — What types of businesses need to pay sales tax (including a few that commonly get overlooked) 08:52 — What is Nexus and how to prepare for it (this is especially important if you sell in multiple states) 12:01 — Sales tax exemptions to know 23:05 — How to make sure you're paying the right amount on sales tax and the common mistake that leads many entrepreneurs to overpay

As entrepreneurs, we can fall into the headspace of always focusing on quantitative goals: a revenue number, a certain number of clients, or a profit margin. But we can burn out by focusing too much on those without the right motivators. By taking a look at quantitative goals, which are those goals that aren't measurable like spending more time with your family or feeling more work/life balance, we can actually better determine what our quantitative goals need to be. You might be surprised to find that you don't need to push yourself quite as hard to have the lifestyle you want. 02:04 — The trend we're seeing with business goals04:26 — What are qualitative goals? Plus examples you may want from a business and personal perspective19:21 — How to think about your money goals in a way that will support your lifestyle goals

As your business grows, your tax advisor will likely recommend that you transition from an LLC to an S Corp to gain a few tax advantages once you're at about a $50,000 profit mark for the year. When you do, you will become an official W2 employee of your company. Plus, as you're growing at that level, you'll likely start considering bringing on one or more full-time employees.. In this episode, Sydney and Kristen discuss this transition and what it looks like, plus some considerations you need to keep in mind from an accounting and bookkeeping perspective that might change based on what's required of you. 01:29 — Making the switch to become an employee of your business and to hire W2 employees03:18 — When should you make your LLC an S Corp? 04:54 — The requirements you must meet to maintain an S Corp07:09 — How to properly onboard yourself as an employee11:29 — Identifying a "reasonable" salary to pay yourself 13:33 — How becoming an S Corp can affect the way your bookkeeping and accounting needs to be managedRESOURCES MENTIONED: Gusto Payroll Software: https://gusto.com/r/sydney0959 ADP Payroll Software: https://www.adp.com/what-we-offer/products.aspx

As the business owner, it's your responsibility to set up 1099 contractors properly and issue them the 1099s on time. A 1099 contractor is anyone you have paid $600 or more, cumulatively, for that year. Sydney shares with us everything to know about 1099 contractors so you can onboard them properly, track what you're paying them and issue the 1099s on time. In this episode, you'll learn: 01:52 — What is a 1099 contractor?03:58 — Avoid this IRS red flag that can lead to an audit 07:13 — How business owners determine whether someone is an employee or is this a 1099 contractor11:29 — Why would a business want contractors over employees or vice versa?

As business owners, the start of the New Year is an easy opportunity to reevaluate our businesses, reflecting back on what's worked, what hasn't, and what we're focused on throughout the next 12 months. And that goes for your business finances too. In this episode, Sydney and Kristen dive into the 12 things every business owner should do at the start of the year to help understand their finances, evaluate their income and spending, and plot goals for the year ahead. These 12 focus areas will allow you to get a full understanding of your business finances and help you see what's needed to achieve your financial goals in the New Year. 02:08 – Financial planning02:14 – Tax planning02:39 – Reflect on the previous year06:29 – Set clear goals10:29 – Review and update your business plan12:01 – Evaluate your marketing strategies14:42 – Employee review and development16:42 – Technology17:56 – Customer feedback19:44 – Risk management22:58 – Networking31:14 – Personal and professional development33:14 – Share your 2024 goals with us!

Sexy Money Goals are about what your revenue can do for your life. The end of the year is the perfect time to realign with your money values and what you envision your money doing for you in the next 12 months. In today's episode, Sydney and Kristen share what their Sexy Money Goals are in their businesses and for their personal lives so you can see the behind-the-scenes of what they're working on in 2024 and inspire some thoughts for what you want money to do for you in the New Year.These Sexy Money Goals aren't just about saying $1,000,000 year or something like that, but rather focusing on what the money can do for you. That's how we create a business that fuels a life we love — not just one that has a big bank account but everything else feels off.

If you're a sole proprietor or have an LLC, as a business owner, it's inevitable that you'll find yourself googling “quarterly taxes explained.” We all get started needing to figure out how to pay them, but they cause so much confusion, and that can create a lot of anxiety — have I saved enough for my quarterly taxes? How do I pay my quarterly taxes? Am I paying too much in my quarterly taxes? In this episode, Sydney and Kristen explain exactly what you need to understand about quarterly taxes so you can feel confident you know what they are, how much you need to save for them, and why paying quarterly is beneficial to you, plus how to avoid penalties.

Knowing what and when to outsource in business is a balance between managing your revenue well while also investing in the growth of your business. As a business owner, you need to be able to recognize what's more important for you to outsource from the very start and through each stage of the business. In this episode, Sydney and Kristen share how and what to outsource from the start of your business and the most important elements you'll want to think about to make those decisions. 01:57 – Website06:20 – Social media12:02 – Bookkeeping13:51 – Shipping15:07 – Assistants19:53 – What order do I hire in?24:53 – Scaling and replicating your work

Whether you're a new or established business owner, figuring out exactly what you need to know to manage and protect your business finances can make a huge difference in the success of your business.When we work with new clients at Know Your Worth bookkeeping, we see even the most established businesses missing or overlooking some key elements for how to best manage and protect their finances. In this episode, we're breaking down exactly what you should be considering when it comes to your business finances so you can be sure you've set yourself up properly and your revenue is best protected. 02:21 – Setting up a bank account10:45 – Income and expense tracking13:22 – Insurance16:36 – Contracts

How do you choose a legal structure for your business? From sole proprietorships to LLC and S Corp, there are so many options to choose from it can become overwhelming to know which legal structure for your business makes sense at every stage. (And if you're like Kristen, you may not even remember what you got set up as initially if you've been in business for a few months or years!)In this episode we're answering the question, “What is a business structure?” and breaking down each of the different types including sole proprietorship, partnership, LLC, S Corp, and C Corp so you can understand when each of these would be beneficial for your business, the pros and cons, and who you should talk to to form the right structure for your needs. 03:03 — What is a legal business structure (and do I have one)? 05:15 — Sole Proprietorship09:42 — Partnerships11:22 — LLC 21:23 — S Corp29:48 — C Corp

Do you want to save more money for big purchases during holidays and other special events? Saving is a skill that's the foundation for any goal — whether that's to spoil your niece on Christmas morning, to fund a luxury vacation, or reach your biggest financial goals. Sydney and Kristen go through the six steps to help you manage your finances and save for those special occasions. Learn how to strike a balance between celebrating the people you love and not going overboard with your spending during the holiday season. Whether you're saving for Christmas, a vacation, or any other special event, these insights will help you plan your finances effectively and make the most of your celebrations.The 6 steps to savings that apply to short-term and long-term goalsHow to find the right balance between saving for big purchases and not going overboard with your spending (especially during the holidays)How to let go of the idea that spending is the only way to celebrate so you can prioritize your budget based on your values

Creating a budget can often feel restrictive, but with the right approach, it can ensure you have the freedom to spend on what you want while still being confident you can reach your money goals.Sydney helped Kristen create her budget and they share the process in this episode.Tune in to see: How to get out of feelings of anxiety around moneyHow to find the right person where you feel fully comfortable to be open about your full business and personal financial situations How to get a snapshot of your realistic spending habits to best plan your budgetUsing an Over/Under system to contribute more to your Sexy Money GoalsThe Credit Card Payoff Calculator template in Excel and Google Sheets to help you create a payoff plan for credit card debtThe value of automatic savings and investing (plus a suggested app to use to keep it simple)Why you should set up a separate saving account at your bank

Knowing your numbers and understanding your financial statements is crucial to running a profitable and growing business.There are three financial statements that every business owner should be creating and using, or having a team member or bookkeeper create and review with them to get the full financial picture of your business. In this episode, Sydney breaks down the 3 financial statements you need to be using in your business — plus what they look like on the personal side.You'll learn: The top 3 financial statements you need to use in your businessThe common problems business owners run into with managing each of these financial statementsWhat situations you would want to use each of these statements for

Do you and your partner have different outlooks on money? It can be difficult to navigate financial conversations with your partner when you come from different backgrounds and have different perspectives on how to spend, save, and invest your money. Sydney and Kristen share how each of them has navigated finances with their own partners and shed light on the challenges of getting on the same page as their partner and what's worked well for each of them. They also highlight the importance of a budget and using tools to help you and manage it — without needing to obsess — to alleviate some of the stress you or your partner might have with managing money. Tune in to hear how you can navigate creating a budget with your partner and some of the challenges that come with talking to someone else about money.Why money is the number one thing couples fight about How to get over your belief that talking about money is “taboo”The financial tools you can use to keep track of your budgetHow a “lifestyle” Pinterest board can prevent you from making impulse purchases

In part two, Kristen shares her journey from working in education to quitting her job — and helping her husband quit his — while simultaneously taking on a major expense of IVF treatment.She also sheds light on some of the mistakes she made that she would change if she could go back and do the process again. They also discuss how to navigate “worst-case scenarios” with any Sexy Money Goals.

In this two-part episode, Sydney and Kristen share their journey to achieve one of the first Sexy Money Goals entrepreneurs have — quitting their 9-to-5 jobs. In this episode, Sydney details her journey from working in the financial industry with a secure job to starting her first three businesses and being able to quit and work for herself. They discuss how Sydney's upbringing made her confident to be able to lead a business, the mindset required to take the leap into entrepreneurship, and a few of the key numbers and financial considerations that went into the planning.

When it comes to money, it can be easy to set arbitrary goals.“I want $20k months,” or “I want a $1M year.”Those are the common ones we hear from entrepreneurs. While it can be fun to hit milestones like that, reaching those goals won't necessarily give you what you want with that money in your life. And you might be surprised to see that there are different ways to reach your biggest lifestyle goals without even reaching those numbers. In this episode, we're breaking down what Sexy Money Goals are, and why we don't *love* just choosing a revenue or income number that sounds good. 01:43 — What is a Sexy Money Goal (hint: it's not just a number)03:10 — Examples of Sexy Money Goals to inspire you to create your own06:42 — How to protect your goals from fear of judgment or external criticism 09:09 — Choosing a support team that you know will rally behind you and support your goal 11:08 — The best way to ground your goals in a realistic perspective, rather than hopes and dreams

Every personal and business goal is achievable with the right plan! In the very first episode of Know Your Worth, your hosts, Sydney, money maven and owner of Know Your Worth PGH, and KYW office manager,and admittedly money-anxious best friend, Kristen Fedeli, share:

Financial success as an entrepreneur isn't about a $20k month or a million-dollar year — it's about what your revenue can do for your life. Working two days a week, buying your dream home, retiring your partner, starting a second business, or caring for your parents — those are Sexy Money Goals.On this show, Sydney Conway, Money Maven and Kristen, her dime-piece bestie and team member teach you how to think about your differently so it can work to achieve your Sexy Money Goals, not just hit a number. From understanding how to increase cash flow to financial projections and tax strategy, you'll gain the insight you need to really understand how every business and personal goal you set is achievable with a plan and understanding the right numbers. You'll also hear from other entrepreneurs like you who have achieved their Sexy Money Goals and the steps they took to make that possible, so you can feel empowered to go after what matters most to you. Sydney Conway, is an accountant and financial consultant of Know Your Worth Pgh where she's supported more than 100 businesses to manage their finances and feel confident and empowered to grow their businesses and their money goals. Kristen is a busy mom of twins who is an assistant to multiple business owners and sees and manages all the behind-the-scenes details that allow the businesses to run smoothly. You can learn more and book a call at knowyourworthpgh.com.