How to spend money

Guiding Principles

Spend conservatively

We want to spend less than we make. This means not spending just because we can, but making sure every expenditure is bringing value and that it makes sense in light of the health and stage of the company, especially revenue.

Spend transparently

We want to share our costs as much as we can with the whole team so that the whole team can challenge and push us to use our money better.

Spend autonomously

We want to limit approvals and bureaucracy. For smaller transactions, their approval is mostly dictated by a policy; no review is needed. Larger and recurring expenses should be discussed as a team. If a decision is hanging, a leader can make the final call.

Existing budgets

"Limits" in Brex

• Onboarding budget: $2,000 budget for all new team members to purchase anything for their remote office to support happiness and productivity (chairs, desks, monitors, headphones, etc.)
• Productivity software budget: $500 per year for team members for tools and systems that make them more productive. No questions asked.
• Misc. budget: An open limit for other spend (Million Dollar Meals, events, etc.)
• Benefits budget: Individual limits for each benefit (Mind Wellness, Body Wellness, Personal Domain, etc.)
• Travel budget: For each travel event (offsite, conference, etc.) we will create a new limit in Brex. Pre-approved expenses can be found in What is the travel policy.

Hiring Approval

One of the biggest expenses is payroll, which makes sense why they can fall under the most scrutiny. In order to post a job description, we must decide on a salary budget for the role. Every salary budget must be approved by the executive team.

Reimbursements

Our company and team spending is managed via Brex. Using your Brex card is preferred, but if the vendor does not accept it or you forget it, simply keep the receipt and request a reimbursement. Either way, make sure to upload your receipt to Brex.

If you don't have the receipt, please submit a picture of the transaction on your bank statement.

You can also download the Brex App on your phone to easily see transactions, check card details, and even book travel.