Basic Financial Planning for Busy Solopreneurs: 6 Simple Steps to Reduce Stress and Build Confidence with Money

Running a small business comes with tons of complicated tasks—don’t let your personal finances be one of them!

Six Steps to Basic Financial Planning for Women Business Owners

These steps are here to help you feel more confident, aligned, and in control of your money—without adding to your overwhelm.

Step 1: Don’t Budget Everything—Do Budget Some Things

You’re busy! The last thing you want to do in your free time is tally up how much you spent on rent, Thai food, Hubspot, and your manifestation coach. And even if you did, what would that number really tell you?

Instead of trying to budget every penny, focus on just a few key categories. This lets you analyze where your spending aligns with your values—and where it doesn’t—so you can make meaningful adjustments without burnout.

Start with one budget line item at a time:

• Business subscriptions

• Food out & delivery

• Clothes

• Coaching & personal development

When that one feels easy, add another category. This “less is more” budgeting style is ideal for busy women solopreneurs.

Get this FREE spreadsheet!

Step 2: Track Your Business Income Easily (In Under 5 Minutes)

If you’re like me, you started your business to do something you love, not to feel underpaid and overworked. Don’t let your passion turn into a frustration!

Income tracking is the key. And it doesn’t have to be complicated. I made this free spreadsheet for myself to track income with minimal effort, and I want you to have it too. Each time you’re paid, capture just five details (income, date, product/service, category, and an estimate of hours worked), then watch the spreadsheet do its magic. This simple tool gives you powerful insight into how your business is actually performing.

What you’ll learn from tracking your income:

• Are you earning more than you spend? (Profit) Or less? (Deficit)

• Which offers or services bring in the most revenue? Which earned the highest hourly rate?

• What’s your average “good month”? What does a slow month look like?

Knowing this helps you set smarter goals and build sustainable income as a solopreneur.

Step 3: Focus Your Financial Goals

I know you’re a go-getter—you started a small business, after all. But having too many financial goals can slow your progress.

Basic financial planning is about focus. Choose one (maybe two) goals to work toward at a time. You’ll be amazed at the momentum you build.

Money Coach Tip: Pair a financial goal with a life goal to stay motivated:

• Pay off debt (financial goal) + save for a tattoo (life goal)

• Invest for retirement + plan a vacation

• Help your family financially + buy a new coffee table

Simplicity creates momentum—and momentum builds confidence, and a strong money mindset.

Step 4: Implement Simple Financial Systems

If you’ve grown your own business, you understand the importance of systems. Systems help things operate smoothly without your constant attention, which we both know is already stretched too thin. It’s the same for basic financial planning!

These systems help you stay consistent and organized with minimal effort:

• Set up automatic transfers to a high-yield savings account

• Schedule automatic debt payments (including credit cards)

• Add a weekly or monthly money check-in to your calendar

• Partner with a financial coach to reduce mental load

With the right systems, financial peace becomes part of your business routine—not another to-do.

Step 5: Separate Personal and Business Finances

You’ve heard this before—but here’s why it matters: separating your business and personal finances makes budgeting easier, saves time at tax season, and helps you understand your business’s true profitability.

It’s one of the most effective financial systems a small business owner can implement. You won’t be stuck sorting charges like your CRM into business and your favorite astrology app into personal. Recommended business banks:

• Bluevine

• US Bank

• Found

Just make sure the small business bank account you choose is FDIC-insured (learn about FDIC-insurance).

Step 6: Heal Your Relationship With Money

Here’s the truth: even the best financial systems won’t stick if your mindset is working against you. If you’ve taken any business course, sales training, or personal development workshop, you’ve heard it before—it all comes back to mindset. Your financial life is no exception.

As a solopreneur, your beliefs about money directly affect how you price your offers, pursue income goals, and navigate slow seasons. Your money mindset is just as important as your spreadsheet.

Want to learn how to shift your mindset so you can feel more peace around money?

👉 Read this guide on healing your relationship with money

Final Thoughts: Start Simple, Stay Consistent, Build Confidence

Financial planning doesn’t have to be stressful or time-consuming. With the right mindset and a few smart systems, you can build a solid foundation that supports your business, and your well-being.

You don’t have to track every dollar to make meaningful progress. Start with what feels doable. Adjust as you go. And remember: your financial peace is worth prioritizing.

Want support from someone who’s helped hundreds of women navigate money with more ease and alignment? A financial coach might be the next step on your financial journey.

Start with a FREE Discover Call to learn more!