Many early-career real estate agents focus on immediate successes, like getting the first client or making the first sale. But while you're making those early milestones happen, keep your spending in check. It can be tempting to spend whatever it takes to jumpstart your real estate business, but you'll be in business for longer if you keep an eye on cash flow.
While you're working for yourself, it's also critical that you cover not just your business expenses but your personal ones as well. Early in your career — or even before you launch your business — create a spreadsheet of your personal living expenses, both mandatory ones like rent and discretionary ones like coffee on the way to work. Your income goals should cover these expenses in addition to your business costs, with a cushion leftover for growth and emergencies.