Pay Yourself Right
WHY
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A clear owner pay system, whether drawings or wages, removes guesswork and helps your income feel reliable, even when business is seasonal.
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Sole traders, partnerships, and companies all handle owner pay differently. Picking the right method (drawings vs payroll) keeps you compliant and avoids double handling.
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Running your pay through its own process protects your cashflow and makes financial reporting far more accurate.
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Standing orders, payroll runs, or calendar reminders turn owner pay from a task you might forget into a habit you can rely on.
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Building a system doesn’t mean locking yourself in forever, it means having a baseline to adjust from when your business grows or slows.
You know why paying yourself matters, how to choose between drawings and wages, and what your numbers can support. Now it’s time to turn those decisions into a working system, one that pays you consistently and keeps your business cashflow healthy.
This module walks you through setting up a clear, repeatable process: how often you pay yourself, where it comes from, how to track it, and how to make it feel like a real wage, not just dipping in when you need it.
EACH YEAR, OVER 50,000 NEW BUSINESSES ARE REGISTERED IN NZ, EACH WITH ITS OWN STRUCTURE AND RULES.
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EACH YEAR, OVER 50,000 NEW BUSINESSES ARE REGISTERED IN NZ, EACH WITH ITS OWN STRUCTURE AND RULES. ✦
Stop guessing how much you can afford to take each month.
Ready to take control of your income and your business? Follow along, and make this the moment you start paying yourself properly, on your terms, with confidence and clarity.
Background: Alex now understands his monthly averages and has decided to take regular drawings.
Challenge: He tends to withdraw money at random when bills pop up, which makes it hard to see his true profit.
Action: Alex sets up a monthly owner drawing on the 1st of each month. He creates a simple calendar reminder and transfers a set amount from his business account to his personal account.
Outcome: His drawings now feel like a stable income. He has stopped “raiding” the business account and finally sees how much money is really left to reinvest in materials and marketing.
Alex, Sole Trader
Creative / Artist
Scenario 1:
Reduce stress and know exactly where your money is going.
Ready to take control of your income and your business? Follow along, and make this the moment you start paying yourself properly, on your terms, with confidence and clarity.
Cleaning Business
Scenario 2:
Priya, Tradesperson
Background: Priya has staff wages, supplier accounts, and fluctuating job sizes. She already decided on a hybrid approach.
Challenge: She sometimes delays paying herself if a big invoice hasn’t cleared yet, creating inconsistency and frustration at home.
Action: Priya sets up a fortnightly payment schedule, aligning her personal pay with her staff payroll cycle. She uses a separate tax account to park GST and income tax before paying herself.
Outcome: Her personal income is predictable, her staff are paid without stress, and her family budgeting finally matches her business reality.
Clear records, predictable income, and confidence are within reach.
Ready to take control of your income and your business? Follow along, and make this the moment you start paying yourself properly, on your terms, with confidence and clarity.
Consultant
Scenario 3:
Background: Tom runs a limited liability company and pays himself a wage via PAYE.
Challenge: While his wage is steady, his drawings of extra profits have been haphazard—sometimes leaving the company short.
Action: Tom sets a quarterly profit review, where he decides if surplus cash can be drawn as a bonus or left in the company. He uses Xero to automate his salary payments each month.
Outcome: His wage is always paid on time, taxes are handled automatically, and he only takes extra drawings when the company can truly afford it.
Tom, Service Provider
Reflection Questions
How often should you pay yourself weekly, fortnightly, or monthly?
What tools or systems (Xero, calendar reminders, separate accounts) will help you stick to your pay schedule?
Do you need to set up a tax account before you start paying yourself?
Which of the scenarios feels closest to your situation? What would you do differently?
If your income fluctuates, how can you protect your personal pay from that inconsistency?
Conclusion
One size does not fit all when it comes to business, you are not limited by your specific trades or skills; instead, you have the opportunity to explore and expand your potential beyond what you might initially think. The best way to define your business is to make a Business Plan, this allows you to see the full picture of your business or organisation over the next 3 years.
Your Business Plan explains how you will operate, earn revenue, and handle expenses and most importantly clarifies roles and processes in your organisation.
Regularly updating your plan to include new insights and adjustments is crucial for staying relevant and achieving long-term success.
SOLE TRADER
NOT-FOR-PROFIT
COMPANY