Most business owners know how they want to run their business. To a large extent this is based on the business owner‘s personal values, ethics and interests. Sometimes the day to day problems pile up at such a rate the owner loses sight of what they wanted to achieve as they get buried under layers of demands on their time. Most people would not consider carrying out a health check on themselves. Instead they consult an external expert who will take an objective look at them and provide impartial advice. In business a similar route should be followed as anyone involved in the day to day running of a business may not notice a significant problem due to familiarity. The old adage about the value of a fresh pair of eyes is true in business as it is elsewhere.
For each of the items listed, decide whether they are monthly, quarterly, or yearly, payments, then repeat the monthly amounts in all the columns that apply. For example, monthly payments will go in all 12 columns but quarterly in only in the four columns when payment is due. The next stage is for you to consider what other necessary expenditure will come out of your income every month. These other expenditure items probably do not show up as regular payments in the first stage, though individual payments may. These items may include food, household goods such as detergents, car maintenance, petrol (gasoline), and fares, which are essential to you, and you need to budget for each month.