I'm sitting here thinking about being paid. I remember when I was a little girl and my dad was paid once a monthly and the difficulty of living paycheck to paycheck. So, now I'm so accustomed to having a paycheck every other week, I hadn't given those memories much thought.

Now I'm writing my business plan and trying to think through processes. Of course, money is a big part of any plan.

Currently, I'm gearing myself towards Day 1 of a new month for payment, which means I would have to budget very strictly both personally and professionally, especially in the beginning.

Is this a good plan or would it be wiser to go for something different like weekly, twice a month, every other week, other.

Thanks for your thoughts.

Anne Camien
ALC Office Services

Hi Anne, it's hard to say what would work best for you since everyone's finances and business situations are going to be different. I will say that when I look at our budget I look at the month so I can include regularly billed expenses, etc. in my planning.

I also have a quarterly overview because I need to budget for quarterly federal tax payments, yearly state tax payments [business and personal], as well as personal bills like car insurance and similar that are billed less frequently.

With all of that in mind, I found that it works best for me to invoice my clients every two weeks with Net 14 terms.

I'm not entirely clear on your question, so if I've missed the mark just post back!

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On my client's monthly retainer plans, they are automatically billed on the same day each month...this balances out my cash flow, lets me have a continual flow of income...while still knowing how much is coming in each week / month. Besides, it gets me out of having to prorate a retainer when a client wants to join up mid month. This was the best plan for me.

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Christine Wade - Real Estate Virtual Assistant
http://www.eRealtyAssistance.com