Anyone who is self-employed - whether as a street vendor, fisherman, shopkeeper, or rabidante (informal trader) - knows the challenge of variable income.

To maintain the balance of family finances and ensure the continuity of the business, there is a golden rule: business money is not household money.

Mixing the two can make it difficult to control expenses and may compromise the restocking of goods or the resources needed to keep the activity going.

Follow three essential steps:

• Record income and expenses: Note down sales and key business expenses daily, either in a notebook or on your phone.
• Set a family "salary": Establish a fixed amount for household expenses and keep the money needed for the business separate.
• Keep business money safe: Whenever possible, keep the money intended for the business in a separate account, avoiding impulse spending.

Separating business money from family money helps you manage finances better and grow your business.


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