Screwed up my finances


I overspent in the first quarter and made some accounting errors and now my projected set earnings from my 2 rental properties aren’t going to cover the taxes for the properties along with paying my manager’s salary. This is currently my only source of income. I’ve done the math that if I strip down my living expenses considerably, including stopping scholars, I’ll be able to recoup my losses in 6 months and be ahead. I’ll lose the weekly coaching and workshops I’ve been attending.

I hate to do this especially since I could have avoided it if I’d been better with running my business. I gave myself time to make up the funds, but I probably didn’t make enough offers, buffered too much. I feel like I took some risks and I’ve pep talked myself around this being my first time doing business management, of course I screwed it up. Now the only way I’m seeing to fix things is to scale way back as I have a full schedule, even with the improvement in time management I’ve made this year. I’m feeling terrible about the money and haven’t cancelled yet, I’ve been telling myself it’ll work out fine, I can keep doing what I’m doing.

Then I realized that in thinking it’ll work out fine, I’m allowing for the cash flow math of more out than in to persist and will get to a point of being unable to cover expenses anyway. I know that even if it happened and I had to move out, eat rice and beans etc, of course I’d be fine. But if I could prevent going there, wouldn’t that be better? I’m feeling like I need a lot of help in this area.