Hey, Rich, how are you doing? Hey, how's it going? Well, not too bad. That looks like a lot of fun. Yeah, I've got to get it rigged up. Hey, I've got a problem I need to talk to you about. Let me guess: you've got a million people standing in line waiting for your next stadium tour. Pretty much. My business is exploding, and I need to invest more into it. Seems like you've been good about saving some of your profits. Do you need more than that? Well, actually, my savings account should cover it. So what's the problem? My sister wants to start a new business with one of her friends. She needs money to buy into it, and she's asking me for about the same amount that I have in my savings. Well, which savings, your business account or your personal account? Well, it's my business, so what's the difference? I just want to keep track of one account. You need to have separate accounts so you don't use business money to pay for personal expenses. I've seen people get into financial trouble trying to use just one account. Keeping separate accounts will help you keep your money organized. So if I do that, then how do I take money from my business account and put it into my personal account? It's your business, which makes you the owner, right? But you also do all the work, which makes you an employee. As the owner, you have to pay your employee, which in this case is you. That's the money that goes into your personal account. You can even name yourself employee of the month. That's a great idea. I think I'll make a plaque. Look, if you were working for somebody else, say a restaurant, and you wanted to loan your sister some money, would you get into the cash register and give it to her? Well, of course not. That would be stealing. Same thing. You don't want to steal from your business, right? The only money you can loan to a family member is money that's yours. You pay yourself a salary, right? Well, I only take out what I need to live. So, not a set amount. Can you see how mixing accounts could be a problem? Well, I can now. The money in your business account isn't for you to spend on personal expenses. You need a separate, personal bank account where you can deposit your salary and keep your salary low until your business picks up enough that you can give yourself a raise. Anything in your personal account is yours to spend however you want. Well, this has been very helpful. I can see that I need to get my business better organized before I even think about helping my sister. It's a tough spot. She needs your help. Well, and I want to help her. She deserves the chance. Well, work it out with her. Figure out what you can do. Make sure you get those accounts squared away first. Oh, we'll come up with something. Thank you. Have a chat. [MUSIC PLAYING]