How Much Money Should You Be Making Each Month? (+ FREE Calculator!)
Trying to figure out how much money you should be making per month as a dietitian or nutrition professional can be confusing. Without having the knowledge from schooling, how are we supposed to understand the financial part of becoming a business owner? That’s why I am sharing with you the exact template that I use to calculate how much money you need to be making per month to cover your expenses and live the life of your dreams. Using this calculator, I was able to exceed my revenue goals by >$200 in MONTH 1 of running my business full-time!
So confusing when you don’t know about it. So stressful when you don’t have it. So wonderful when you do have it. But oh, so necessary to think about.
Money (and more specifically, making money) is one of those topics that can feel uncomfortable to talk about. If you’re doing well with it, you feel like you’re bragging but if you’re not doing well with it, you feel like you’re failing.
But what if you don’t know whether you’re actually doing well with it, or you’re actually failing at it? I once read a meme that said “being in your 20’s is all about secretly wondering how other people afford their lifestyles” and nothing has ever felt more true in my life.
Regardless of what everyone else is doing, money should be (and needs to be) deeply personal and handled with objectivity. What I mean by that, is that you need to be the one who decides how much money is appropriate to make based on your own unique circumstances. Everyone has different needs when it comes to money, depending on your background, lifestyle and career choices.
Because of that, I want to empower YOU to come up with that number all by yourself. I want you to be armed and confident that you know EXACTLY what it’s going to take to not only cover your expenses but build the incredible financially free life that you want.
That’s why I’ve created another FREEBIE - a super simple calculator that allows you to figure out how much money you need to be making per month in your nutrition business. You will also input your income sources so that you can see whether they match up or whether there's room for growth.
A few things about this calculator.
This is the EXACT calculator that I use each month and was the reason why I was able to rationally and objectively make the decision to leave my full-time, stable job for full-time entrepreneurship
Your monthly expenses are multiplied by 1.3. According to Tim Ferriss, in the famous book The 4-Hour Workweek, this extra money accounts for a buffer (in case anything unforeseen happens like an unexpected car or medical bill) and provides you with a “dreamline fund” - aka the money that will allow you to live your best life doing whatever it is that you want to do in your free time. As a side note: while you’re listing your expenses, Ferriss also recommends using it as an exercise to get rid of “all things that consume income without enriching your life” (ex. Memberships you don’t use, etc.)
While you’re filling this out, you don’t have to be exact but you do have to be realistic. Actually go back in your bank statements and figure out approximately how much money you spent in the last few months. Underestimating the amount that you need to make to live a comfortable life doesn’t help anyone.
The amount that you should be making and the amount that you’re actually making don’t have to match up in month 1. In fact, they’re probably not going to. For me, my “actual” fund was about $1500 short of my “needed to cover expenses” fund when I left my job. However, I knew that my business was growing each month. In fact, in my first month of full-time entrepreneurship I actually exceeded by “needed” amount by $200! And that was during covid-19! What I’m trying to say by this is that knowledge is power. When you know how much you need to be making it helps to motivate you to reach that amount each month and gives money way less power to stress you out.
Ready to get empowered and make your own financial decisions? Download the FREE revenue calculator here.