This post is made in partnership with The Network Niche Influencer Agency and Control Card. All opinions are my own.
After working my first job at 17 years old and weighing my paycheck with the amount of effort it took to make such a little bit of money, I knew I would eventually become self-employed.
I remember taking the very first leap into entrepreneurship at 15 years old. I was the one of a handful of unlicensed hair stylists in my community. My services included extensions, hair braiding and relaxers. I had about five repeat clients and that’s when I became obsessed with self-employment.
Today, I run a successful digital brand and have been in business for over a decade. One of the very first things I did as an entrepreneur was figure out how to manage my business revenue and expenses.
My system allows me to not only manage my revenue, but also maximize the benefits of my business spending.
How I Manage Business Expenses with Google Sheets
Using Google Sheets, I created a spreadsheet that tracks the partnerships I work on along with the expenses each partnership incurs. Most of my expenses are recurring fees that keep my site online and others that help me syndicate my content.
These predictable fees are tracked at the bottom of the sheet. On the other hand, I also have unpredictable fees from partnerships which I track in column “F” in the screenshot below. Whenever I buy products, props or other items to create content, I track those expenses in column “F” on the same line with the client and campaign details. I have several business debit and credit cards specifically for business purchases.
The one I am using from my rotation right now is The ControlTM Prepaid Mastercard® from Netspend.¹
Whenever I make a purchase I get a text² message alert confirming the purchase amount and what my remaining card balance is.
Then a few times a week, I check the Control Card mobile app² and record each transaction alongside the appropriate campaign in my Google Sheet.
I have the “F” column set to calculate the total amount spent for the month at the bottom so I can track my total expenses throughout the year. Having this detail makes it so much easier to claim my business deductions at tax time.
Now that I’ve told you how I manage my business expenses, let me tell you how I maximize the benefits of spending money in my business by making business purchases on expense cards that give me Cash Back Rewards³ on purchases.
How I Maximize Business Spending with Rewards
I used to spend cash on business expenses back in the day but later switched to credit/debit cards for the digital tracking benefits. I have three cards I use for business expenses and am currently using the Control Prepaid Mastercard, which recently joined my business expense card rotation
When choosing a card for my business, the two primary benefits I look for is the ability to earn Cash Back Rewards³ on purchases and a great mobile app¹ interface. The Control Card ticks both of those boxes for me.
The Control Prepaid Mastercard allows me to earn Cash Back Rewards³ when I use it to pay for select purchases at participating and/or qualifying retailers.
So, when I spend money, I make some back!
As I make purchases, The Control Card Prepaid app² lets me see and manage my account on the go. Plus, like I said earlier, I also get text² messages alerting me of your Card Account activity.
My business has a very low overhead, but the money that I do spend I make sure I track it and get the most rewards from the expenditure.
¹IMPORTANT INFORMATION FOR OPENING A CARD ACCOUNT: To help the federal government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires us to obtain, verify, and record information that identifies each person who opens a Card Account. WHAT THIS MEANS FOR YOU: When you open a Card Account, we will ask for your name, address, date of birth, and your government ID number. We may also ask to see your driver’s license or other identifying information. Card activation and identity verification required before you can use the Card Account. If your identity is partially verified, full use of the Card Account will be restricted, but you may be able to use the Card for in-store purchase transactions. Restrictions include: no ATM withdrawals, international transactions, account-to-account transfers and additional loads. Use of Card Account also subject to fraud prevention restrictions at any time, with or without notice. Residents of Vermont are ineligible to open a Card Account.
² No charge for this service, but your wireless carrier may charge for messages or data.
³ Cash Back Rewards is an optional program. You may opt-out at any time by visiting the Cash Back Rewards page in your Online Account Center. Reward offers are based on individual shopping habits. Cash back rewards are credited to your Card Account and are not available in the form of a check or other direct payment method. See the program FAQs and Terms and Conditions in your Online Account Center for additional details about how and when you get rewarded. Program sponsor: Netspend Corporation. MetaBank®, National Association, and Mastercard® are not affiliated in any way with this program and do not endorse or sponsor this program.
The Control™ Prepaid Mastercard® is issued by MetaBank®, National Association, Member FDIC, pursuant to license by Mastercard International Incorporated. Netspend is a registered agent of MetaBank, N.A. Certain products and services may be licensed under U.S. Patent Nos. 6,000,608 and 6,189,787. Use of the Card Account is subject to activation, ID verification, and funds availability. Transaction fees, terms, and conditions apply to the use and reloading of the Card Account. See the Cardholder Agreement for details.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Card may be used everywhere Debit Mastercard is accepted.
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