{"id":166381,"date":"2024-07-18T10:23:50","date_gmt":"2024-07-18T14:23:50","guid":{"rendered":"https:\/\/www.interac.ca\/?page_id=166381"},"modified":"2024-11-01T15:04:09","modified_gmt":"2024-11-01T19:04:09","slug":"from-dollar-one-money-goes-out","status":"publish","type":"page","link":"https:\/\/www.interac.ca\/en\/from-dollar-one-podcast\/from-dollar-one-money-goes-out\/","title":{"rendered":"From Dollar One: Money goes out"},"content":{"rendered":"<section id=\"t4-hero-block_bc05c7c1ae7b0fdc4c1b0671490387ff\" class=\"block-t4-hero\" style=\"margin-top: 0px; margin-bottom: 100px; padding-top: px; padding-bottom: px;\">\n    <div class=\"grid-container\">\n        <div class=\"grid-x align-center align-middle\">\n            <div class=\"cell small-12 hero-title\">\n                <h1>Ch. 1, Ep. 5: Money goes out<\/h1>\n            <\/div>\n                                <\/div>\n    <\/div>\n<\/section>\n\n<div class=\"grid-container\"><div class=\"grid-x\">\n<iframe height=\"200px\" width=\"100%\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https:\/\/player.cohostpodcasting.com\/dd80c572-9a2f-4bd5-a33a-d7945b8a15a1\/7036eeb6-3c45-42e5-b37a-a1cad8052791\"><\/iframe>\n<\/div><\/div>\n\n<div class=\"grid-container\"><div class=\"grid-x\">\n<p>Saying goodbye to your hard-earned money is never easy, of course. But as the saying goes, sometimes you have to spend money to make money.<\/p>\n<\/div><\/div>\n\n<div class=\"grid-container\"><div class=\"grid-x\">\n<p>In this episode, we\u2019ll break down a few of the different fixed and variable costs and expenses you can expect to pay while running your business, and best of all \u2013 how to automate them. You\u2019ll also hear how to take the pain out of tax season.<\/p>\n<\/div><\/div>\n\n<div class=\"grid-container\"><div class=\"grid-x\">\n<p>Download free templates, and sign up for our newsletter to get started:&nbsp;<a href=\"http:\/\/content.interac.ca\/en\/pay-and-get-paid\" target=\"_blank\" rel=\"noreferrer noopener\">content.interac.ca\/en\/pay-and-get-paid<\/a><\/p>\n<\/div><\/div>\n\n<div class=\"grid-container\"><div class=\"grid-x\">\n<p>Visit\u00a0<a href=\"https:\/\/interac.ca\/dollarone\" target=\"_blank\" rel=\"noreferrer noopener\">interac.ca\/dollarone<\/a>\u00a0to learn more and sign up for our newsletter.<\/p>\n<\/div><\/div>\n\n\n<section id=\"accordion-block_97d8dbfdb92f2dc7d776c284a910a7e1\" class=\"accordion-content-block\" style=\"margin-top: 0px; margin-bottom: 0px;\">\n    <div class=\"grid-container\">\n        <div class=\"grid-x grid-margin-x align-center\">\n            <div class=\"cell small-12\">\n                            <ul class=\"accordion\" data-accordion data-deep-link=\"true\" data-update-history=\"true\" data-deep-link-smudge=\"true\" data-deep-link-smudge-delay=\"500\" id=\"deeplinked-accordion\" data-allow-all-closed=\"true\">\n                                <li class=\"accordion-item\" data-accordion-item><a href=\"#episode-transcript\" class=\"accordion-title\"><h6>Episode Transcript<\/h6><\/a> <div id=\"episode-transcript\" class=\"accordion-content\" data-tab-content><p><span data-contrast=\"auto\">Welcome back to From Dollar One by Interac. In our last tip we touched on keeping track of the ins of your money. This tip is all about the outs. Now, we get it. Saying goodbye to your hard-earned money always hurts, but as the saying goes, sometimes you have to spend money to make money. And when it comes to costs that help keep your business <\/span><i><span data-contrast=\"auto\">in business<\/span><\/i><span data-contrast=\"auto\">, it\u2019s less like saying goodbye to your money and more like \u201csee you later\u201d.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Alright, let\u2019s cover the basics of costs. Business costs are any expenses that you incur to run your business. There are two types of costs: Fixed and variable.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"14\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Fixed costs are all the expenses you have to pay regularly regardless of how your business is doing. This is stuff like rent, utilities, licence fees, account subscriptions, and loan payments.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"14\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Variable costs are a little more\u2026well, variable. The cost can go up on down based on how much you produce, sell, or even need. This would be costs like transportation, materials, shipping fees, and advertising.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Whatever expenses you have to pay out, if you\u2019re looking to save some time, you can make a lot of these payments with <\/span><i><span data-contrast=\"auto\">Interac<\/span><\/i><span data-contrast=\"auto\"> e-Transfer to keep a record of the payment. Plus, when you pay with <\/span><i><span data-contrast=\"auto\">Interac<\/span><\/i><span data-contrast=\"auto\"> e-Transfer, the money is transferred from your account immediately, so there\u2019s no need to do any mental math on how much you have.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Like we talked about in the last tip, knowing how much you\u2019re spending to keep your business going is part of running a financially healthy business. For one, it can help you make faster, more informed budget decisions. And, when your receipts and expenses are in order it can save you <\/span><span data-contrast=\"auto\">precious<\/span><span data-contrast=\"auto\"> time come tax season. P.S. We have a tax prepping guide you can access by following the link in the description.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:259}\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">And if you need some help to update your books: We have useful templates for balance sheets and invoices, which you can also download directly at the link <\/span><span data-contrast=\"none\">in the description.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:240,&quot;335559739&quot;:240,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Taxes, bills, expenses \u2013 we get that talking about these topics isn\u2019t always the most relaxing. So, i<\/span><span data-contrast=\"auto\">f you need some tips to help bring the stress levels down a few notches, check out the Mind over Money Chapter on Interac [dot] ca [slash]\u00a0<\/span><span data-contrast=\"none\"> dollar one.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:259}\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">[OUTRO]<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">And don\u2019t forget to sign up to our From Dollar One newsletter for even more handy business tips<\/span><span data-contrast=\"none\">. We\u2019ve got one more tip left for you in this chapter, so stay tuned!<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:240,&quot;335559739&quot;:240,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<\/div><\/li>                <\/ul>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/section>\n\n<div class=\"grid-container\"><div class=\"grid-x\">\n<p><sup><em>This article offers general information only and is not intended as financial, legal or other professional advice. While information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subject matter discussed. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Interac Corp.<\/em><\/sup><\/p>\n<\/div><\/div>\n\n<div class=\"grid-container\"><div class=\"grid-x\">\n<p><\/p>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Saying goodbye to your hard-earned money is never easy, of course. But as the saying goes, sometimes you have to spend money to make money. In this episode, we\u2019ll break down a few of the different fixed and variable costs and expenses you can expect to pay while running your business, and best of all&hellip;<\/p>\n","protected":false},"author":8,"featured_media":0,"parent":166368,"menu_order":5,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":true,"footnotes":""},"class_list":["post-166381","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>From Dollar One: Money goes out - Interac<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interac.ca\/en\/from-dollar-one-podcast\/from-dollar-one-money-goes-out\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"From Dollar One: Money goes out\" \/>\n<meta property=\"og:description\" content=\"Saying goodbye to your hard-earned money is never easy, of course. 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