All About Expenses

Lemonade Stand Style! Hey, friends! Let’s chat about something called Expenses in the world of our lemonade stand. When you’re in charge of a stand, you have to spend a little money to make it the best it can be. Expenses are all the things you need to pay for, not just the lemons and sugar, but other stuff too, like posters to advertise and a table to set up your stand.

What Kinds of Things Are Expenses?

At your lemonade stand, Expenses can be lots of things. Maybe you want to make a big, bright sign to get more people to notice your stand, or you decide to give out cool stickers with each cup of lemonade. All the money you use for these things are your Expenses.

Why Do We Need to Think About Expenses?

Thinking about Expenses is super important because you want to make sure you’re not spending all your money on stickers and signs and not keeping enough to buy more lemons! You have to find a balance so you can still have money left over to save up for that toy you’ve been eyeing.

Expenses Are Not Just Shopping Lists

Remember, Expenses aren’t just what you buy to make your lemonade; they’re also what you spend to make your stand look amazing and to tell everyone about it. So, things like paint for your sign, a tablecloth for your table, or even a little radio to play music for your customers are all Expenses.

Keeping Track to Make More Money

You’ve got to keep track of everything you spend so you can figure out how much you need to sell your lemonade for to not only pay back those Expenses but also to make some extra money—this extra is what you get to keep!

Planning for the Best Lemonade Stand

By planning your Expenses, you can decide how fancy you want your stand to be. Maybe you can find a way to make a sign that looks awesome without costing too much. Being smart with your Expenses means you can have the coolest stand and still earn money for your piggy bank. So, that’s the scoop on Expenses! They’re the things we pay for to make our lemonade stands awesome, and keeping an eye on them means our stands can be super successful, and we can end up with more money in the end! Now, who’s ready to sell some lemonade and save up for something fun?

Gita Faust

About the Author

Gita Faust has over 30 years of accounting experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

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