Oops! You Spent Over Budget This Month…

You are not alone!

You have a monthly budget (if you don't, then we gotta have a different conversation), after the month, you look at your financials, and you overspent. Yikes!

It happens more than you think. But when that happens, here's the #1 thing that you should NOT do:

Panic.

We don't need that.

Instead, try doing these:

1. Look into the categories of expenses that are over the budget. Ask questions:

- What did you overspend on? (conference? travel? sales meetings? paper?)

- Have you planned for these spendings in a different period? If not, why?

- Has the particular spending generate positive outcome?

2. Be accountable, but learn the lesson and move on.

3. Review other categories of expenses and see if there's any areas that you can adjust in in the coming months to balance.

Running a business is not always a smooth sail, the key is to see the story behind the financials each month and learn as you grow.

At Elevate, we help you understand the stories behind the numbers each month and make decisions that support the company’s growth. Schedule a free discovery call with us.

Chuoru Li

Elevate Financial Consulting provides Fractional CFO services to small to mid-size businesses in the healthcare sector. Our expertise lies in optimizing business costs and cash flow and providing strategic guidance for long-term growth.

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