Budgeting for business

Hi Brooke! I received an inheritance of about $70k and decided to put it towards my business. I’ve been trying to just make purchase decisions as I go – ask myself if each purchase is going to help me get clients etc. – but have already spent $30k of the money. For this next year, do you suggest I set aside a more specific budget? $X for marketing $X for training etc. or just keep moving forward?

When I first received the inheritance I definitely was having scarcity thoughts of running out of the money before my business takes off, but through working through money mindset and this course, I have realized I can save a lot of time if I invest in my business well – but looking at how much I spent this year is starting to bring back thoughts of scarcity, like maybe I went a little overboard? I catch myself in thoughts of “if I spend at this rate I’m going to be out of money by next year,” BUT I am SO much closer to my goals than I was last year – I feel like my goals are just within reach.

Should I quit spending until I break even on what I’ve already invested? So far I’ve only made back about 20% of what I’ve invested.