Updated on December 27, 2007
MarieCasas.com is now Money Management for Young Entrepreneurs
MarieCasas.com is now Money Management for Young Entrepreneurs by SexyMoneyGenius.
Inasmuch as I advocate personal finance for Filipinos, I couldnâ€™t relate anymore to the budgeting methods and advice that would be suited to a lot of Filipinos who are employed. Iâ€™m training myself to get into the entrepreneurial mindset. Cash flows, when you start a business, just donâ€™t come as regular paycheck anymore.
I co-founded a web startup in 2007. We incorporated, applied for business permits, run overhead costs, and all the necessary tasks of running a business. My â€œemergency fundâ€ from when I quit my job in March 2007 was just about running out. I need to find a way to stabilize my income and typical personal finance advice just donâ€™t cut it anymore.
I couldnâ€™t â€œsave 10%â€ or invest in financial instruments anymore because I didnâ€™t have inflows. I want to find out how people who start a business manage their money, if theyâ€™re even able to budget their personal expenses anymore.
You have to advance money for the company because business loans havenâ€™t come in yet. Or the business isnâ€™t qualified for loans yet and now neither are you. How do startup entrepreneurs establish credit? How do they pay personal bills? Find friends who understand their plight? Talk to fellow young entrepreneurs who want to talk about business ideas and not about their lame bosses or hours of overtime?
Iâ€™m happy to work 70-hour workdaysâ€¦ or more. I want to catch up on all my old leadership and marketing and business newsletters and RSS feeds. Iâ€™m happy to enjoy a large Caramel Ice Blended coffee (no whip) at Coffee Bean & Tea Leaf, but I guess Iâ€™m not supposed to be able to afford it. But I like enjoying my movies with JP, I like eating out and I should have my hair treated once in a while. I have lots to learn, new habits to develop, new experiences to laugh and cry about, new corporate bigwigs to charm, new blogs and financial or business writers to discover!