7 Tips to Separate Your Business and Personal Life
As much as we don’t like to admit it, our personal life and our business are interrelated. Dedicating your finances and time to these two aspects wisely can help increase the quality of both.
Separate your finances
You should apply for an EIN. It allows you to get a business bank account and you won’t have to use your social security number for business expenses.
Another option is establishing a corporation. In that case you’ll be able to separate your business taxes.
Get a special credit card. It will help you to control all the business expenses and not mix them with your own.
Pay yourself your salary. As an entrepreneur, you should pay for any work done for your company, including the work done by you. Decide on a fixed amount and feel no shame to transfer money to your personal account.
Separate your time
Set a schedule. Having time for rest is vital to work productively. You are your own boss now, so you should set boundaries and deadlines for yourself.
Plan your vacation in advance. Do your best before your holiday and try to separate your thoughts from work when you have a rest.
Mute your phone when you see your loved ones. It may be hard for you to break away from solving your business problems. But on the other hand, it’s really disrespectful to do so when seeing your family and friends. Spending some time together helps you to recharge, so it’s worth it anyway.
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