• Lindsey Spurway

Seperate your whites and pinks

It's washing day.


You might group your wash in a similar way to me: darks, whites, and no idea.


I'll normally start with the whites because it largely comprises underwear and bed sheets. Neither I can do without.


Ok, I don't need to wash the sheets every time, I just LOVE the smell!


The thing with whites is it's an obvious call; an easy place to start - if it's white, in it goes.


But this over over-confidence is what can trip you up, as happened to me recently ...


An item from the 'no idea' pile somehow made its way into my white-wash.


You can probably predict what it was ...


Yes, you guessed it - it was one of daughter's pink socks.


Not just any old pink mind, no no ...


It was as brightly illuminous pink as your eyes could stand without watering.


(well, if you're going to do it, you might as well do it properly)


This rogue pink sock then proceeded to add a bit of colour to my otherwise white than white whites.


Disaster.


Similarly, when running a business, it makes sense to seperate your business and personal finances.


If you're a sole-trader, you're not legally obliged to have a separate business bank account – but you should. Otherwise bookkeeping will soon be a nightmare to maintain.


If your business is a limited company, it is a seperate legal entity from you, so its money is not yours to spend (except on business expenses).


So, to save confusion, and to keep your business and personal expenses whiter than white, today's small business tip is: keep your business and personal finances apart.


Bookkeeping will be simpler to do ...


Quicker to manage ...


And less of a chore.


Best, Lindsey

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