Fun with Finances: How to Pay Yourself, the Beauty Biz Way

Many of us are clueless about handling finances and saving money. The truth is, it can get quite overwhelming and complicated, and sometimes it’s no fun. We know exactly how it feels as beauty business owners, so we’ve got you covered with some tips and insights about all things finances.

In today’s episode, we talk about finances, starting with how to pay yourself. We share our journey in building our successful beauty businesses and how we handled our finances as sole proprietors and, eventually, corporate owners. We also answer some questions from our subscribers about finances.

Tune in to the episode to learn all things finances, from paying yourself to growing your savings!

Here are three reasons why you should listen to the full episode:

1. Learn more about how to pay yourself and manage your finances.
2. We talk about our own experiences in growing our business.
3. Find out tips on how to save money and deal with taxes.

Resources

• Check out Usual Wines. Get $8 off your first order when you use our code beautybizbffs.
• Win some goodies from the Beauty Biz BFFs! Write us a review on iTunes and give a subject that you’d like us to cover on the podcast. Don’t forget to include your Instagram handle!
• Shop at Dear Lash + Love.
• Shop at Glow Skincare.
• Email Kasey if you are interested in a business coaching call.
• Email Lorena for if you are interested in her Canva Graphics course.

Episode Highlights 

The Duo Behind Beauty Biz BFFs

• We are beauty business owners who created a podcast to discuss entrepreneurship and share beauty business tips.
• Listen to the full episode to get a glimpse of our relationship through the years!

Behind the Scenes of Their Collaboration

• We talk about our first-ever collaboration that we started working on before the pandemic.
• We collaborated on designing and producing a limited-edition mini cold-roller with lashes and shirts.
• Listen to the full episode to hear our experience in producing, printing, packaging, and shipping for our collaboration.
• It may be more efficient to delegate quality control, shipping, and other dirty work tasks. But it is crucial to do these things yourself when starting out.

Learning About Finances

• You need to be knowledgeable and do your research about finances when running a business.
• Taking care of yourself includes knowing how to manage finances, especially during uncertain times like this pandemic.
• Kasey’s parents made her work for things she wanted growing up, which taught her how to value and manage her own money.
• Unlike Kasey, the value of money wasn’t instilled in Lorena. However, she learned more about it when she started working and realized that she had to be financially secure.

How to Pay Yourself

• We were figuring this question out at the beginning, but now we’ve built a system for it.
• Before, the amount we pay ourselves was based on our monthly personal bills and business expens

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