As a chiropractor, you work hard to serve your patients and build a thriving practice—but if you don’t have a plan for your money, it can easily slip away without you realizing it. That’s why having a Money Allocation Plan (MAP) is essential. Think of it as the GPS for your business finances, guiding every dollar where it needs to go.

In this post, I’ll walk you through a simple 4-step process to build your MAP so you can manage your business finances with confidence.

Step 1: Project Your Revenue

The first step in creating a solid financial plan is understanding how much money you expect to bring in. Here’s how to do it:

• If you’ve been in business for over a year, use last year’s revenue for the same month as a starting point.
• Alternatively, you can take an average of the last 12 months to get a reliable estimate.
• If you’re a newer practice, make an educated guess based on trends and patient flow.

The key is to err on the conservative side, so you don’t overestimate what’s coming in.

Step 2: List Out Your Recurring Expenses

Recurring expenses are the ones you pay every month, such as:
✅ Rent
✅ Software subscriptions
✅ Staff salaries
✅ Insurance

Pro Tip: Audit your subscriptions during this step—are you paying for tools you no longer use? Cutting unnecessary expenses can free up more money for growth.

Step 3: Identify One-Off Expenses

One-off expenses are things you purchase occasionally, like:
✔️ Office furniture
✔️ Equipment upgrades
✔️ Continuing education courses

It’s important to account for these in your MAP so they don’t catch you off guard.

Step 4: Allocate Your Leftover Margin

After accounting for revenue and expenses, what’s left is your margin—and this is where smart allocation makes all the difference. This is where you direct your dollars and align your money with your goals!!

Here’s how to divide it up:
🔹 Tax Savings (25%) – Always set aside 25% of your net profit for taxes in a separate account. This bucket is NON-NEGOTIABLE!!
🔹 Debt Payoff – If you have business debt, prioritize paying it down aggressively.
🔹 Owner’s Draw – Pay yourself strategically based on your personal and business needs.
🔹 Savings – Set aside money for business growth, emergency funds, and future investments.

The last 3 buckets will vary based on your specific situation and your life season.

By being intentional about where your money goes, you’ll create financial stability and growth in your business.

Creating a Money Allocation Plan isn’t about restricting yourself—it’s about empowering yourself. When you know exactly where your money is going, you’re in control of your business instead of letting money control you.

📌 Want help implementing this? Listen to my full podcast episode on creating a Money Allocation Plan here: