Savvy Business Show: Financial Planning for your Business
Hi. Everyone and welcome to the savvy business, show my name is Hanukkah I'm your business coach and the creator of the savvy, business. Masterminds. So, with me today I have Nicole Peterkin. And she's, gonna be talking to us all about. Savvy. Financial. Planning, while, running your business, so. Nicole. That's. Totally, not how I said I was gonna introduce you so now I'm gonna throw it to you to just give us a little bit how. And what, I always, do this guy's by the way with these intros and I just so I'm gonna do it and then halfway through Mike now we're, gonna do a different so, here's Nicole and she's gonna tell us a little bit more, about. What, she's doing right now and then we're gonna go into some very cool, tips, on how, you can run your business more, financially. Savvy. Cool. So. I, got. Into financial planning. Because. My, dad suddenly passed away and I, realized. That my mom was making six a six figure income but. As, part of like the delegation, of responsibilities. That typically happens in a marriage and in a relationship, she really, just delegated, all of the finances, to my dad and had, no idea what was going on and I just remember thinking oh my god there's such a gap in the market like women need financial, planning, women, need financial help. And. I saw that I was going to be the one to give it to them you know if your, husband passes away you get divorced whatever I just kept feeling really, strongly that nobody should rely on anyone else for, their financial security. But, when I started my practice I realized that it, was really hard to work with women because of those deeply, ingrained, like. Relationships. And behaviors and the delegation. So, even, though I wanted to start a woman centric practice I actually started off and most of my clients were we're, men and I was helping them with their cash flow with their investments, and their. Planning and I just started realizing, that the industry, is really focused on money management. And. Not really on planning, and I started meeting a lot of small business owners. Who really needed help with the planning aspect they felt like they were working hard their revenues increasing, everything's, getting better but still they're feeling guilty for going on vacation, or they're needing a vacation on a credit card not, having anything for retirement not really having anything for their families, so. I actually changed, the way that I started doing planning from, an investment centric, model. To, a more planning, centric model that worked really well for small businesses, but also worked really well for individuals who kind of needed the help with the everyday mechanics. That they could learn how to spend. Better but also stays better right so to spend more on lifestyle, but also still be able to save and invest and grow yeah, so something that you state that there, is so interesting, because I do think, I know. I follow, a lot of money. Mindset, people out there as well, is. This strange, relationship. That. Women, have with this with, money like. Do you you you obviously you just brought it up so what are some of the, pain. Points or, the. Mistakes. Or I don't even know how we want to phrase this but what are some of the problems. That you see with that. Men, aren't really, experiencing.
Like What are some of these things that you see women run into that's. Sort. Of detrimental. To us, so. It's funny because recently, I've, gotten a bunch of like younger. Male clients. And I feel like because they're younger they're more vulnerable, I guess so, they've been more transparent about like their financial, journey it's not like the typical oh no I got this I know everything, they're more like well. You. Know I I, know, that I'm making more money than my parents I know that I want to have more than them so I've been like reading. Tony Robbins money master the game and I've been like looking at what Vanguard, what, John Bogle of Vanguard is saying and I'm paying attention to Bitcoin and I'm paying attention to my 401k and so these young guys are like reading, as much as they can and they're kind of like learning. About their financial opportunities, and then they're dipping their toes in so, I end up meeting these guys and they're like you know what I realized, that there must be a lot that I don't know because I'm kind of like all over the place I'm investing like a little bit here a little bit here a little bit here a little bit here I feel like I'm doing like a few of the right things but. And I know my money is growing but I feel like could grow so much more but I don't know where to put everything and so they're coming to me for kind of like the okay, what should I really be doing so I can put the foot on the gas yeah, I meet women, of all ages they're, kind of more transparent. About like not really knowing what they don't know but. They're, like all in cash or they have no savings and so they've kind of they're kind of like reading and reading and reading and reading but they never liked by, the Bitcoin or they never by the you or, they never open the IRA they just learn about everything. You. Know what I mean they're both are learning, but like the women are more like education. Junkies but never implement. And the. Guys are, so like well I know this works for other people so let me try it, yeah. It's, weird no, I see you know what I think what's happening, there for us as women is it's, this perfectionism. Thing, right we gotta get it perfect, and if, we're not gonna get it perfect we are so risk-averse, that. We don't do it anything, which. Is I, think there's a lot going on and I'll talk about this a little later on another topic. But we. As women are really starting, to run into, a lot of trouble for ourselves in, so many areas because, we're trying to be, perfect at it all and be this gold standard, and as. A result, like we're losing out in the end because we're not taking risks we're not trying things and then we're, also shooting ourselves in, the foot when it comes to financial planning now it's turning out so. Ladies, stop the perfection, of them got to Nicole and like. Make. A decision. Everything. Though right one of my coaches, I was, telling her something and I didn't think that I was being a perfectionist but she said perfectionism. At the form of procrastination yeah. I was like oh I am. Doing, that I'm like oh it's not ready yet oh it's not ready yet and it's like I'm just procrastinating, just, pull the trigger yeah. It's. True and everything if, yeah, and it's and, I wonder when will wouldn't, you like that go I sort of look at like the younger generation. Females, today and I wonder. Whether we're gonna be able to get that out of them, whether this is sort of the human condition of, being female that we have this so, far ingrained, in us but. I know I've had, to majorly. In my business, and in my, life like let, go of that perfectionism. Because it causes so much pressure as well, and, so for me differently, it's like the more pressure I have on myself the lace things happen like, the lace stuff happened in my business so, that's, like interesting, to hear that we're. Also taking that to our financials.
Just Not good. So Tommy, Nicole. Like what is them when. You when. You're working with small entrepreneur. It's like what is the number, one thing. That they're, getting wrong. Or. The biggest mistake, that they're making with, their finances. That you're you've observed I think. The high level thing is not keeping, business, and personal separate. In the sense that they're not considering. Their personal. They're. Not considering themselves like their most important employee right so they're working for. You know $10 an hour but then they're paying their VA $20. Or $30, an hour and, so they can't literally. Cannot do their own financial, planning because, they kind of get in this like we love I'm gonna investing in my business I'm reinvesting my business I'm reinvesting in my business and I've seen it with entrepreneurs, who are making like 50, grand a year and I've seen it with entrepreneurs, who are making seven, hundred fifty grand a year and it's the same thing it's like okay I have seven hundred fifty thousand in revenue now you'd think that I've made it but I still don't have a retirement account and I still don't have like personal, savings separate, from my business saving and I still don't have all the stuff going on because I'm kind of just like well, I need to hire the next employee I need to get this client and they need to raise my prices a little bit I may need to do all of these things before I do it right and it's like no, same. Thing with any habit, you, have to get the fundamentals down and, like. When you make your first dollar no matter how hard it is you have to put something away for yourself, and whatever, you're putting away for yourself has to be able to like, cover. What you're eating you, know cover, or your discretionary, cover like you having fun and cover some savings, because, you. Know the five dollars that you're spending on your coffee could just as easily go into your murd under go into your IRA but it's not looked at like that yes, exactly so it's funny you should say that because in my my. Mastermind, groups that's like one of the first exercises in. Specifically, the side hustle startups but they never will so like really, um always. Never cross it and sort of just wow like really I'm saying this to even the. 750,000. People like. You. Gotta track your money yes, you have got to start tracking your money, you gotta start like knowing. Where things are going like, have a little spreadsheet it doesn't have to be complicated but, really knowing, your finances, is so key because I think a it's, gonna help you work smarter and. And. Realize where you're like spending. Time working for $10. An hour where that should be outsourced, you should never be the one doing the $10 our work, but. It also like helps you just get comfortable, with. What. Is going on and, then seeing that bigger picture that you're talking about if like how actually you can move things around and how you can sit write your personal and your business finances, so I love that. So. Okay. So they're not doing that and so what are some of your pointers, if you would look how, do you get people to get started so for me but, I and. I mean I'm not a financial guru at all I just came, from a finance background and, I've done a lot of the money stuff, with. Coaches, and so that's where I came from with the tracking part, but what else do you normally ask, like, people in the beginning like what is like one stick that can take away today that they're okay, Nicole. Said I should do this I'm gonna start doing this and then I'm gonna call her later I. Think. Something. That I see a, lot is like double counting money so, I think that if you have all your money in the same one account or the same two accounts, and like savings and savings and spending and spending and. It's really hard to really see where you're making progress and where you're not so, I usually recommend that people like do an allocation, where. If all of their money is coming in through their business checking account have, all your money come in through your business checking account and then transfer, it out into different accounts and if it needs to be a different banks it's that different banks if you need to name the accounts, name the accounts, but it's, really different, when you say okay this money is going into my tax account this, money is going into my, personal. Checking, account this money is going into my, whatever. My like, retirement. Account even if you don't transfer, it to your retirement account right away like just doing the allocation, of saying okay, you. Know this money's going here this money's going here this money's going here then, you start to get excited, about like what the balances and the accounts are growing and you feel like if, you.
Clear, All the money out of your business checking account or if you clear you know do your allocation then, you're not confused, the next month when you like you have a great month you have a thirty thousand dollar month and then the next month you have a five thousand dollar month but you didn't realize, that you had a five thousand dollar month because you still have the money lingering, in your business checking account and you have no idea that you'd like lost momentum or don't have a client or need to pull back and not invest in your website right now yeah. You, can't make those decisions, if all the money is just sitting there and you're confused because guess what a lot of stuff's going on like personally, in business it gets. Chaotic and, it's hard to pay attention to everything but. Our nature. Is like when you look at your checking account if there's no money there you spend less right. We'll. Go to the other extreme right, because when you do that I know. In the beginning when I started doing that because I have all the accounts, I'd like everything. Goes goes. Through a different account I guess the tax account, there's the my. Personal, savings account, there's the business profit account and then there's my wages, account right but, then the. One thing that you have to prepare yourself for guys because this took me a little bit to get used to is that. Current. Account we're gonna call it which is the business operating. Account, by Skeever all the money comes in - it's, okay if that thing is at zero because, that means you've paid out everything, else that needs to happen, it's, okay besides zero, if you're talking, and doing it the way nicole to see if, it's at zero and like you're not doing all of this then we need stock like, could it hire me and Nicole. To help you to make more money and you're in your business but I must say that was a game-changer for me and my business I know when I started doing that and then another. Thing that helped, me was that that hold like the business profits, account actually, having an account that acts, as that business, savings account, yeah but whatever we're gonna call it and I think I got that idea from. Profit. First I think is the name of likely Alex yep I love ya. Yeah. So I really, enjoyed looking at it from that point so people should, totally go and read that book but then while, they're buying that book you've, written a book Nicole. Tell us a little bit about that, book and I, know we can find it at Amazon, or at, Nicole. Peter can calm, and all, gonna be linked in the show notes and in the blog notes so, tell, us a little bit about that and what, is it about who's, it for what that's gonna help us do so. It's called if you love your family save like it and it's basically just. Conventional. Wisdom, turned on its head like I feel like I, was. In business for a couple of years I. Forget it was three or four years and I start getting frustrated because I'd meet with all of these people who are doing all of the right things but, all of the right things had nothing to do with where they were trying to go what, their explorations, are what their income was what their family goals were so, they're just operating. Off of these like oh I need to buy a house I need to buy a house I need to put, money in my 401k, I need to whatever, it was right they need to do all of these things but, at the end of the day they weren't really growing their net worth they weren't really paying down their debt they weren't really doing everything they needed to do because it wasn't really aligned with what, they, like. What was really important to them so the, book is kind of like picking. Each like, I think it's seven or eight different pieces of conventional, wisdom and. Kind of turning it on its head and saying okay you know if you follow this conventional, wisdom and this is your situation it might work out okay but, look at it from this alternate, perspective, so, it's a. Teaching. It has like a lot of like stories, that you can kind of grasp the, client examples, but then it's a workbook so you can kind of work through and say like ooh where am I kind of buying into this like so. Wisdom from, all these talking heads that like actually doesn't really apply to my situation it's hurting me so it's a way to kind of like. Do. An analysis of your financial situation and, kind make tweaks to to. Set yourself on the right path that's awesome that sounds like a book that every person, should found point read in their life right just to get back on track and. I love what you just sit there about, um. Making. Sure that what what, your goals, are is, actually, in line with what you're doing financially. I think, we. I. See. This is my clients, a lot too and it's totally different but we, all have to realize that you want to get our goals, and, our actions, aligned whether, it's financial, whether, it's business, whether.
It's Personal. I. Heerd. Way too many times where people have these, are my goals but if you look at them in their, life like they're totally moving in the opposite direction yep. And it sounds so simple but it is, something that we all I think every now and then just get confused by, or we get sidetracked with, you, know the new shiny object specifically. With you're an entrepreneur, then it's like whoo I mean I'll go and do this thing right yeah, it's so important. Definitely. For everyone, to to, always, go. Like okay where is my, goal, what. Are my actions and are my actions definitely gonna hit that goal or not and if it's not and you don't know how to make these two reconcile. The two then. Obviously go and find yourself some help, in where area. Of life it is whether it's relationship, business. Financial. Whatever, that may be and, now. I was gonna ask you about healthy. Cash flow and I don't know whether, that's too broad of, a question to, ask it, cuz it's so so, different for each. Company. In each business, I was, I'm gonna leave it open to you can we ask that question what is healthy cash look like. Can. You answer that to a broad audience or, is that something that is more, should, be personalized, I mean. On, one hand it should be personalized, but on the other hand like. It always depends, on your goals and I think that. Sounds. Throwaway. But it's so for, an example I have one, client who literally. Spends, like 70%, of her business revenue back in her business, doesn't, pay her own taxes, doesn't, like no, money's basically going into her purse, or a very little bit of her revenues going into her personal life and she's making six figures but, she's really happy and she's still grinding it out and she loves it and when you talk to her about what her goals are like, building, a retirement, account in building savings, really isn't a priority for her even though maybe it should be because. Her. Husband has a lot of money and pays for everything she doesn't have to contribute to the household they don't have any kids she doesn't you know what I mean so it's like, okay. Is it a bad, thing to spend 50%, of your income on your, office, like. Yeah. Probably. If you ask anyone, is that a bad idea to, spend 50% of your revenue on your office, overhead. On your, chest your office space yeah, that seems like a poor use of money but are there people who I choose, to live in a penthouse suite and, like that penthouse, is 50%, of their income or the huge part of their income but, they're making a million bucks and they love it and they don't care and it's not hurting their lifestyle, like yeah absolutely.
So It depends on where you stand and what you really want so I think that, like you, need to figure out how. Much you need to make in your personal life to make you happy, like how much net revenue, do you need to make you happy and what does that look like like, if you're taking home a hundred grand what are you spending it on are, you living where you want to live do you get to travel as much as you want to travel do you get to eat what you want to eat you get to whatever, and then, beyond that like when. Do you want your, asset, to, start paying for that lifestyle, instead of your work so, if you have a business that you can't sell okay. Well then you need to invest, somehow whether it's stocks and bonds whether it's rental, property whether it's whatever you, need to somehow create passive, income or create something, or, create like a sellable, business, or be able to like transition, that business on to somebody create, a business model that like lets, you get out of that so you can live the lifestyle that you want so, you're not forced to like grind it out until you die right, so. It doesn't matter if you can be happy on 50 grand or, if like all you need to come, up with is your own like little spending money because you're really, all set and you know that you're all set and if your husband, or whoever you're financially responsible to. Or for dies. Tomorrow you're totally fine okay whatever it's not for me to judge you I really, don't care but. If that's not the case and, you really, need to be responsible, for your own financial life and you want X Y & Z to happen then. If. You need to take home a hundred grand and you're making 200, grand there, isn't a lot of room for you to like willy-nilly spend, on everything and say like oh this is a business expense that's a business expense I can spend 50. Grand a year on rent like you know you can't because it's not aligned with, the life that you want to live you're, going to get burned out and it doesn't make sense so what. So, what I think is like everyone. Needs a gut check and it's easier to gut check yourself, if you do percentages, because. I think that like I grew. Up I'm not good with money mindset, at like that's not my forte I think. My own money mindset isn't good but I don't know how to like teach it yeah. But. I do know that like I grew up in a household where it was like a lot of broke mentality, so. It's like everything so expensive so expensive blah blah blah and so I still catch myself sometimes, and when somebody quotes something it's like oh that's really expensive, I catch, myself saying that's really expensive and it's like well compared to what what, percentage of my income is this what, am I going to get a reson return on investment, like is this really expensive or am I just like falling into like a hundred, dollars for a pair of jeans is expensive, like I'd, rather spend a hundred dollars on a pair of jeans right now one hundred dollars is dinner it's, not even dinner. Wear. These jeans 20, times so like, it's. Easier to do that when you're in when, you're when, you're surrounded by your peers which is why I think that you're masterminds are so cool because if you're making seven. Figures and you're around other people who are making seven figures it's easier to gauge yourself to say like okay, do, I have a healthy, cash flow are murmee expenses. In line properly, do, I do it like do I have accountability from people who are actually at the same level as me and who actually have the right perspective, and. It's the same thing whether you're making, five. Figures, it, doesn't matter what you're making but, like we often you're. In a bubble right you're, in like all of these like small, business networking groups, so you're around other people, who you have no idea what they're making behind the current and there's no transparency, there's no way to really tell people. Are like pretending, that they're spending this much money we'll really are spending as much money but they're broke and other people are like oh you're gonna spend $10,000. On a website you're, going to spend $20,000.
On A coach it's like yeah. Who. Are you you know like the people who are giving feedback of, know like. Vested. Interest in the outcomes of you yeah you. Do or don't send it so if, you do, percentages, then you can do a gut check and say oh I feel like I'm saving a lot of money but I only save 10 grand this year and I made 500, grand that's, a really small piece of what I made I'm not saving enough or I'm not investing, in a pot, if. You don't have the people to do it if you don't have a coach if you don't have a financial planner you, don't have a coach if you don't have peers who are making the same money as you and are willing to be transparent, and vulnerable, then. You have to do the work yourself and, you have to actually be the hard one to say like am, I fooling myself am I really spending, like 70% of what I'm making and I'm not investing, for the future I'm not setting myself up for what I really want I'm not able to take a three month vacation if I wanted to even though I make a ton of money that's stupid why am I doing this yeah. Yeah yeah. And it's so it's interesting you should talk so I do a no, not in the masterminds, excuse me about, the money mind state because, we we, all do come from different stories, and different backgrounds. And I see if I out with, like. For. Instance me and my sister-in-law a lot, actually we're like, okay, I'll notice. And her stuff, that she'll say and I say - but. It's like I'll hear her say it and I'm like oh yeah. Like that's compared. To what compared, to really something, expensive or, you know and I know like so in the money mindset realm it's more thinking about it's, not really expensive it's. I choose. Not to to. Use my money that way right like starting. To realize that we have this choice and, with. Our finances, with our life and we, can do it however we want to do it but we have to go, into that choice and what, is your what, is your story. Around, money are you, excited. And happy, about money or you constantly, pinching, your pennies you, know and you want to get you know more comfortable with that money story for sure cuz it's gonna help you to actually make all these in basements, in your business, and also, do be up and do, these percentages, so much easier, for sure.
Alright, Well Nicole this was so. Exciting. And fun to have you here is there any like thing that I skipped like in. Final, things like we've talked a little bit about retirement. I don't. Know whether we wanted to do. That a little bit more or whether we're we're. Good on that, with, the piyo we, can talk a little bit more about retirement all right so let's like do that cuz it's actually I feel like I've been on a couple of podcast likey where it's just a hot topic of how as. A culture, we are not saving enough for retirement so. When, you're looking at the broad spectrum, what is that percentage, that people can, start to embrace, and, put away for retirement. What, if you're, starting because it's all so different let's say you are 25. And, then, I'm gonna go 35, and. Then, you're, god I really hope you have a 401, K when you're 45. Please. Look, you're giving me anxiety but. Okay, we're gonna go those four points and like just see the percentage, of what you know you want to say more. Or less and again, guys this is Nicole giving broad. Advice. If, you want more detailed, and personalized, information, you really have to go and do your own homework call, Nicole get. In touch with a financial planner but this is just broad audience, so. Take it for that yeah. I think the general rule of thumb is, that, 10%, of your income should be being saved towards, retirement no, matter what your age is and, I, know that like obviously for older there's no retirement savings, you need to save more but it also depends, on like what you are aren't, willing to sacrifice so. What I tend to see is when somebody's older I've met 50-year olds that I don't have any retirement account. Investments. But they've been spending their entire income, this entire time they haven't been saving, anything so, temp together, save 10% is a lot Nathan's a 20%, is a lot so, like. Even for them to say 5% is a lot if they're saving nothing so to even get them to start saving that usually, you'll start talking to them and they're like okay well if I save you, know 10% instead of 20% then what does that look like and they're more willing to make concessions to say you know what we messed up we should have saved more but we, didn't so, instead of like putting us in the poorhouse now, what. Can we do, yeah. But. I mean I think. A good rule of thumb in general, like retirement aside, is to put 20% toward, savings, you, should be putting money away into some kind of account, that has long-term investment, potential it, doesn't have to be like a 401k, if you're planning on retiring at, 40, or 50 you. Can't use money from a 401k so it, does have to like. Be in line with your goals but, I think that the biggest mistake that I see entrepreneurs. Making is that if they are saving for retirement they're. Waiting, until like the end of the year they're waiting til tax time like I, get all the phone calls of like December, January how, much do you think I need to put in my step how much do you think I need to put in my simple IRA how much do you think I need to put in my whatever, because, they're just contributing, to reduce their tax burden but, if you look at how much they're putting even, if they're putting 10 grand into the thing in some cases they're. Putting 10 grand because, they made 300. Grand and so it's the percentage, thing, yeah. And what. I see when they do that isn't just that they're putting less as a percentage it's, that then they're kind of timing the market so, if, there's somebody if you've heard, anything about investment. It's like don't time the market don't time the market because you don't know if you're buying high or low or whatever and. When you buy, investments, or buy into the market once a year well, then you could be buying high you can be buying low and I've, seen so many people like put money into their investment, account one, time a year and the market was up and then their entire their accounts been down for the next you know over the next two years because, they just put.
Through It in there and it's like well that was such a waste because you. Want to work it's, so, cliched but like you want to work smarter not harder, right like. You. Have to earn that dollar if you want that dollar to make as much money as possible and, the way that money grows and investment, is by time. And by compound, interest, so, you. Putting away money every, day or every week is much much better than putting it in once a year and you don't have to be a neurotic and put it it put money into your investing account every single day. That. Would be interesting. So. Just like sort of say how I'm doing mine is he mine goes off once a month and. It's automatic, it's I, don't, have to do it so that it happens. And. That nominee works really well because, most. Of the articles that I have, graded and then coming from my finance, background is like you really want to make sure that you are not the last person, that you pay like, recently I rate this really cool article about like don't, get your creditors, come. Before you, take. Care of all. Of the other things that need to happen your savings account your, 401k, all of, that first, and then, your creditors, can have some of your money because. You. Know otherwise we fall into this trap of like oh but I got to pay down this like this. Date first and that big for something when there's some money left over and, then if you, have a really good year if, you have a really good year and you didn't stay on top of your tax stuff then, the taxman is gonna come at the entity and go oh that, five grand that you wanted to pay and we, need it now please. So I'm 30 with Nicole, there's like just pay-as-you-go, guys do, it as you go. And if me does work, then it's sort of you don't even have to think about it out of sight out of mind well. And the biggest thing is is that entrepreneurs, have variable cash flow so you see this like well I might, only make $2,000. This month and I made me grand, next month so how can I do it automatic, and it's like well if that's your concern if your cash flow is really that volatile, you, pay your rent and make decisions about whether you can go to dinner or get the car that you have or whatever based on the minimum that you think that you would always be able to afford yeah Zak, same thing with your monthly retirement contributions. And then if you have a good month or a good week or a good day, transfer, some money out into, a like, retirement holding, account maybe and then at the end of the quarter you can hash it out when you're like oh yeah I did have a really great quarter I killed, I'm gonna add that into my retirement account as like a force contribution, of the month that, is so much better than. Not doing anything because you're afraid that you're not gonna have any money yeah, yeah. It just is that like getting a little bit more conscious about okay this, is actually my bare minimum, and my bare minimum includes. Savings. And the. 401k as well that's, what, I need to cover I love that you just say that now so we were talking about a lot of bank accounts so how many bank accounts do you have. Different. Names. Okay. So what are you put in all eight of your accounts if we may ask oh my. God okay, so. I have, I did the profit first like you were talking about so, anybody, who is, a subscriber, to profit first has at least five accounts, right so you have your business, account which is where all of your business revenue, flows through and, then you have your profit, account your operating, account which is your operating, account for business expenses, yeah. So. Profit, operating, taxes, and then. You have like your owners compensation. Or your wages, would be like your personal checking so, you at least have those five accounts, and then, I also have separate, accounts for. Employees, like other employee, pay not me because. I have other employees on payroll and need to buffer that account and I. Have rental, income so I have a an. Account for my rental property I actually, have a checking an astable to my rental property so those are my eight very. Cool that's, wonderful, so there you go guys he's like go, ahead and open some more bank accounts, and it. Definitely does work really well I'm not saying I really love having my money, stay pretty knowing exactly what, I have to spend, and what's going on just, having that pulse well, Nicole thank you so much for coming on and speaking, dress today and educating, us a little bit more and if. You need to get a hold of Nicole her, information. Will be at the bottom. And yeah. Thank you guys so much for watching and, I'll see you again next time on this savvy business.