16. How to Save $100k This Year (Even on Inconsistent Income) with Gina Knox
Manage episode 394333170 series 3508601
Welcome to the Business Finance 101 class you never got! Today we’re talking about everyone’s favourite subject: money! This conversion is jam-freaking-packed with everything you need to know about managing cash flow.
Financial Coach Gina Knox answers everyone’s burning money questions (How much do I pay myself? How do I manage low-revenue months? What about taxes?!!!) + a bunch more questions you didn’t even know you needed answers to.
The theme of today’s conversation: “OMG why doesn’t anyone tell you this stuff?”
Gina’s business cash flow system is so smart and super simple…and yet it runs contrary to EVERY piece of financial advice you’ve ever heard. If you could see my face when we were recording this, I was like the human version of the mind-blown emoji. 🤯
Everything she was saying, I wanted to immediately go back and write it down so I could implement it in my own business – that’s how good it was. Plus she has the best take on positive affirmations that I’ve ever heard.
Gina is the founder of Gina Knox Coaching, where she provides entrepreneurs with the skills they need to manage cash flow, save $100k, and build 7-figure wealth. As a Mexican woman who grew up hearing her dad talk about money, she quickly racked up debt as an adult and wanted to learn how to manage her money better.
Gina saved her first $100k by age 25 – and in just 3 years, she’s helped her clients save over $6 million. She’s helped multiple entrepreneurs buy the home of their dreams, set up trust funds for their children, and build multi-million dollar portfolios that will create generational wealth for their themselves and their families.
This episode is seriously going to blow your mind!!!
Click play to learn:- Why Gina left her cushy job at Quickbooks to become a coach
- Why you should pay yourself the same salary every month, ESPECIALLY if your revenue fluctuates
- How to figure out what to pay yourself (and give yourself a raise 💅🏻)
- Why you’re probably OVERsaving for taxes
- The simple, 30-minute/month waterfall cash system Gina uses to manage money in her $500k/year business (and that’s helped her clients save over $6 million)
- How to calculate your “buffer number” for peace of mind
- The sneaky ways our brains try to sabotage our financial decisions
- How your money identity impacts your business spending
- Why most affirmations don’t work and a better way to rewire your money mindset
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