What do you do if your finances as a self-employed program manager are in disarray?

2 Set your goals

The next step is to set some realistic and specific goals for your finances. What do you want to achieve in the short term and the long term? Do you want to pay off your debt, save for retirement, or invest in your business growth? How much money do you need to reach your goals and by when? Write down your goals and prioritize them according to their urgency and importance. Then, break them down into smaller and actionable steps that you can follow.

3 Make a budget

The third step is to make a budget that aligns with your goals and your cash flow. A budget is a plan that shows how much money you expect to earn and spend in a given period of time. It helps you control your spending, allocate your resources, and monitor your progress. To make a budget, you need to estimate your income and expenses for each month, quarter, or year. You can use the past data from your spreadsheet or software tool, or project them based on your current and future projects. Then, you need to compare your income and expenses and adjust them accordingly. You should aim to have a positive cash flow, meaning that you earn more than you spend, and that you have enough money to cover your taxes, savings, and investments.

4 Track and review your finances

The fourth step is to track and review your finances regularly. Tracking your finances means recording and updating your income and expenses as they occur. You can use a spreadsheet, a software tool, or an app to do this. Tracking your finances helps you stay on top of your cash flow, avoid overspending, and catch any errors or discrepancies. Reviewing your finances means analyzing and evaluating your financial performance and progress. You can do this weekly, monthly, quarterly, or annually. Reviewing your finances helps you measure how well you are meeting your goals, identify any issues or challenges, and make any necessary changes or improvements.

5 Seek professional help

The fifth step is to seek professional help if you need it. Managing your finances as a self-employed program manager can be complex and overwhelming. You might not have the time, skills, or knowledge to handle everything on your own. That's why it can be beneficial to hire a professional, such as an accountant, a bookkeeper, a financial planner, or a tax advisor, to help you with your finances. A professional can help you with tasks such as setting up your business structure, filing your taxes, creating your financial statements, managing your cash flow, or planning your retirement. A professional can also offer you advice, guidance, and support to achieve your financial goals.

6 Learn and improve

The sixth step is to learn and improve your financial skills and habits. Managing your finances as a self-employed program manager is a continuous and dynamic process. You need to keep learning and improving your financial literacy, awareness, and confidence. You can do this by reading books, blogs, or articles, taking courses or workshops, joining networks or communities, or finding mentors or peers who can share their experiences and insights with you. You can also learn from your own mistakes and successes, and use them as feedback and motivation to improve your finances.