Issue link: https://viewer.e-digitaledition.com/i/1196019
AACREDITUNION.ORG | 9 pay yourself a salary. Treat it just like a paycheck. Save a specific percentage of your income for savings and put aside money for taxes. Then, take care of bills, debts and any other expenses. Establish an emergency fund. The nature of self-employment means you'll sometimes have months when cash flow is abundant and others when it's tight (or even nonexistent). Prepare for the slower months by having an emergency fund. That will help keep your business afloat during tough times and reduce financial stress. This extra stash also comes in handy in case of any unexpected business-related emergencies, such as when your computer dies while you're in the middle of a big project. Don't try to do it all. It may seem you'll have a better handle on your business and save money by doing everything yourself. Don't try to wear all hats. If there are things you can't do or don't do well, hire someone to help. Set boundaries. Establish work hours and stick to them. Whether it's a website designer, bookkeeper or social media marketer, having someone who's highly skilled at a particular task is worth the additional costs. It can help grow your business and prevent burnout on your end. Never stop learning. Make career development a top (and ongoing) priority for your business. Attend seminars and conferences, take courses and read books to learn more about your industry and improve or expand your skills. Keeping your expertise up to date will increase your value and improve your business.