Financial Forecasting  

Money management is like a game of chess. In order to play chess effectively, you need to know where every piece is on the board and the movement and power of each piece. The same principle applies to money management. At Molin and Molin, we take money management very seriously and have developed a strategy that works.

Firstly, we do not mix and match money or commingle money. Our general money management strategy is to have all money flow into the income account. From there, the money flows to the payroll account, which is the most important account since it covers the payroll. We ensure that we never miss payroll by having the income account consistently fund the payroll account.

The overhead account is used to pay for basic overhead expenses such as rent, subscriptions, meals, entertainment, software, and more. We also have a liabilities account, which we use to pay down debt. We wait until we think we have enough money, move it into the liabilities account, wait for a while to make sure things are stable, and then make a chess move to decrease the liability.

In addition, we have three savings accounts. The first is the sales tax due account, the second is the additional IRA or 401K contribution account, and the third is the tax account for federal and state taxes over and above what was taken out of your paycheck. This third account acts as a safety net.

Our analytics will show us how much pure profit we have and free-flowing cash. It is our job to ensure that these numbers are exact and that the money in the pure profit account is clear money that is not owed to anybody.This strategy makes money management easy and ensures that you always know where you stand. The most confusing and dangerous banking system is having one account. In our experience, this is one of the major reasons why businesses that make good money end up with nothing or owing massive debt. It is like being in a thick fog and not having a clear view to make good decisions.

At Molin and Molin, we believe that having a clear understanding of your financials is critical to making good business decisions. Our money management strategy is designed to provide you with clarity and control over your finances. It is essential to have an expert in the field managing your financial universe to ensure your business's success.