Move your purpose-specific accounts to a separate bank so you're not tempted to spend them. Check and allocate cash once a week at most, treating it like grazing instead of binge-eating. That's the core of Mike Michalowicz's Profit First system.
How do you implement Profit First into your business? Through the process of the Profit First system, certain of these smaller plate bank account balances are going to get larger. Those could become a temptation. So in the book Profit First by Mike Michalowicz, he suggests removing the temptation by putting those accounts with larger balances that are used less frequently but have specific purposes that are not paying for your Business's bills, setting those aside in a different bank so you don't see the temptation. Instead of being a bear and eating a giant meal and then going into hibernation, being more like a horse and grazing. So in this case, we want to graze our cash flow management. So we want to do it once a week at most, or twice a month. So those are the core Profit First principles that we review with everybody, because it makes— it helps all of us grasp better what we're trying to do with cash flow management.
