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“Expect the unexpected.” As a financial company, we need to put our money where our mouth is; if we expect something from our clients, we need to be doing that as well—especially when it comes to managing finances. Here are a few ways we recommend planning for unexpected expenses:

1. Credit

One of the main services Fundwise Capital provides is helping business owners get additional credit, which requires a good credit score. Each of our owners strives to maintain good personal credit so that if something happened financially, we could utilize that personal credit for our business. Take care of your personal credit by making payments on time, being smart with your credit utilization, and having a good variety of credit.

2. Startegy

We really liked what Startegy has to offer, so we partnered with them and now offer our clients a one-month free trial. Startegy is a financial projection software that includes an app you can download to project the expenses of your company. It automatically adjusts as you input numbers and data so you can see how much money you have to spend and how much money you can keep running your business on, which helps you identify when and where to pivot in order to continually achieve success. Startegy is essentially a virtual CFO, which is great for small businesses because they can’t always hire their own CFO. This software helps you paint a clear picture of how your business will most likely perform over the next few year.

3. Savings

As your company grows, your expenses increase: you’re hiring more employees, investing more in marketing, and implementing new tools to make your operations more efficient. This process can happen quickly, and you want to make sure you tuck some money away for months when your sales dip. Add up all the expenses in your company, and try to save enough to cover an entire month’s worth of expenses for peace of mind in case sales don’t perform down the road.

When you proactively plan for the future, you’re protecting and investing in your business.