Pay yourself wages, salary, etc in your business

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I know it sounds weird. But paying yourself a salary, wages, etc as a business owner can provide financial stability by ensuring a consistent income stream.

Having a fixed salary helps you manage personal expenses and plan for the future. However, excessive personal withdrawals can strain the business financially, impacting its ability to invest in growth or manage unexpected expenses.

With above being made clear, will thrive to strike a balance while you still pay yourself in your own business or you're totally out of this strategy?

 

[Good-Person]

Yes, there are many people who believe in "paying themselves". This may sound really strange. However, the fact remains that this is actually a very popular concept. People pay themselves and save the rest of the money so that they can reinvest money in the business.