5 Personal Finance Tips for Cash-Strapped Entrepreneurs

http://www.entrepreneur.com/article/226274

 Going all-in is sometimes the only way to go. But as an entrepreneur, when the majority of your net worth and compensation are wrapped up in the success of your business, your personal finances can suffer.

At 26, Brian Fox, founder and chief marketing officer of Confirmation.com, a Brentwood, Tenn.-based online auditing company, found himself in that position. In 2001, Fox was a newly minted MBA from Vanderbilt University, the proud owner of a struggling startup -- and the not-so-proud owner of $92,000 in student loan debt. At one point, Fox recalls taking his Honda Accord to a CarMax for an estimate just in case he needed to sell it to pay his employees' health insurance costs. Luckily, a $25,000 nick-of-time check from an investor spared the car.

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