It is important to keep separate banking accounts. When you put money in or take money out, these accounts should be kept separate so you can budget your money appropriately.
You should have separate credit cards for your business and personal matter. You may want to charge everything on one credit card, but it is much better to charge separate things whether it is business or personal.
Knowing how much to spend whether it is business or personal is important. You do not want to go overboard on either account. Knowing how much you can spend is important for your budget.
Keep a log to track what you are buying and how much your purchases are. Keeping a log of both of your accounts is so important to make sure that you know where your money is going.
It is a smart idea to have two separate filing cabinets. Having one for business finances and one for personal finances is an excellent option so you don't mix things up.
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