5 Personal Finance Habits that are Killing your Business Signup

5 Personal Finance Habits that are Killing your Business | Blog | Janelle Copeland

Apr 15, 2022

I hear it all the time...

“Janelle, I’m bad with money”

“Janelle, I don’t like numbers”

“Janelle, I don’t know what my expenses were last month”

Alright y’all, I’m tired af of hearing people say “I’m bad with money”because real talk, you have NO business being a business owner if you aren’t SERIOUS about money. Period. 

It’s hard. Trust me, I get it. For the last 12 years, Eddie and I have INVESTED in our financial growth and have made it a GAME to have perfect credit, zero debt, and make our MONEY work for US! 

The problem with most of us is we were never taught how to do this sh*t in school. But, most of you didn’t go to school to learn how to bake either. So there’s that! 

Despite not knowing where to begin, or how to start, you figured it out and did the damn thang! And that’s something to be PROUD of! 

This is exactly why I wanna help with your finances too. 

But before we can even start talking about your business finances, we need to straighten out your personal finances. Truth is, if your personal finances are a MESS, then friend, you’re building your business finances the SAME WAY and ALLLL those bad money habits are gonna pour into your business. 

Think of your personal finances as a cake board. You learn how to manage your personal money FIRST, you set the foundation, you get really good at it,  then  can start managing your business money like a badass too. 

But if your money habits leave you drowning in debt in your own finances, those habits will do the same thing in your business. 

So, let’s get down to it. We’re gonna talk about the 5 Personal Finance Habits that are killing your Business Cash Flow:

Impulse Spending

You know when you’re checking out at Target and you see those stacks of gum, candy, and all that crap that you KNOW you don’t need but grab it anyway. That’s an impulse buy. And people who give in to impulses in their personal life do it as business owners too. I’m talking to you, you cookie cutter hoarder! 

Now a couple of sticks of gum aren’t going to make or break your finances, but that habit easily translates to bigger things. 

So it doesn’t matter if your income grows, if you don’t get your impulse spending under control, you’ll always have money problems. It’s a continuous cycle of “spending more because you have more” so you’re never really SAVING. 

Not having a savings account

If you don’t have a savings account, it’s time to go create one. 

You need a Savings account for your personal finances AND a Savings account for your business.

Ideally, you’ll want each of those accounts to have at least 3-6 months worth of savings to cover monthly expenses.That means cutting unnecessary costs, cutting corners, and SAVING until you hit those numbers. 

That means no matter what crazy sh*t the world throws at us next month, you, your family, and your business are protected. 

Living paycheck to paycheck 

Y’all this one drives me nuts. 

If you make $5,000 a month, you cannot-should-not be spending all $5,000. Period. This is where I believe, “every dollar has a job.” This is the ONE TIP of money advice that has stuck with us all these years as we’ve focused on rebuilding our credit and limiting our debt.

Simply put, don’t go out and splurge on lash extensions, weekly manicures, pedicures, massages, and botox if you know damn well you can’t afford it. Credit cards are NOT the answer! We’re trying to get you OUT of debt, not deeper in it. 


Some people call it Profit First, others just call it budgeting. When money lands in your checking account, separate it into other accounts.This is ONE of our favorite tips when it comes to managing and budgeting our finances.  Create an account for expenses (this is where you and your spouse will BOTH contribute a specific dollar amount each month to living expenses), one for travel savings, one for short-term savings, another for emergency savings. You can create as many accounts that you’d like, that work for your budget. For us, we specifically have an account for expenses, short-term savings, long-term savings, and our own personal accounts. This allows us to BOTH contribute to our expenses and savings goals but also allows us to access our own money to spend on things we enjoy or want to invest in. Ultimately, you’ll want to sit down with your partner and decide which form of budgeting works for you. 

If you get your finances under control right away, then you’ll limit the chances of overspending in the future. 

Emotional Spending

Life’s stressful, and just like eating your feelings is never a good idea, neither is retail therapy. (Okay… maybe sometimes it is). 

But you know what is GOOD for managing stress??? 

Real therapy. 

If you’re spending money because you’re struggling to manage your stress, put that money towards an investment that’ll help you in the long run, like working through your triggers and mental health with a therapist. 

And, while you’re at it, put $29 aside to invest in our new 90-Minutes to Money Mastery workshop. Eddie and I talk about our own journey with money and how we went from battling BANKRUPTCY, to rebuilding our credit, becoming DEBT-FREE, and utilizing our business to put our three girls through college. 

You’ll learn everything you need to know to get CLARITY around your finances and START building WEALTH! 


Whether you're always behind on bills (trust me, we’ve been there), or you never seem to have enough money to cover your expenses, it can be overwhelming and feel impossible to get ahead. 

I hope these 5 personal finance habits offer you insight as you begin your finance journey. 

Xo, Janelle 

For more MONEY resources check this out

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