CFONow’s Post

Now is the BEST time to create a budget for this year! If you're one of those people who loves to make a budget but struggles to stick with it... these tips might help! 1️⃣ Make a list of fixed expenses. 2️⃣ Build in room for unexpected expenses. 3️⃣ Make time to review your actual results compared to your budget. Adjust accordingly! Your budget SHOULD be a living document. Take the time to adjust your budget for better or worse as your business changes.

Now is the BEST time to create a budget for this year! If you're one of those people who loves to make a budget but struggles to stick with it... these tips might help! 1️⃣ Make a list of fixed expenses. 2️⃣ Build in room for unexpected expenses. 3️⃣ Make time to review your actual results compared to your budget. Adjust accordingly! Your budget SHOULD be a living document. Take the time to adjust your budget for better or worse as your business changes.

Now is the BEST time to create a budget for this year! If you're one of those people who loves to make a budget but struggles to stick with it... these tips might help! 1️⃣ Make a list of fixed expenses. 2️⃣ Build in room for unexpected expenses. 3️⃣ Make time to review your actual results compared to your budget. Adjust accordingly! Your budget SHOULD be a living document. Take the time to adjust your budget for better or worse as your business changes.

Now is the BEST time to create a budget for this year! If you're one of those people who loves to make a budget but struggles to stick with it... these tips might help! 1️⃣ Make a list of fixed expenses. 2️⃣ Build in room for unexpected expenses. 3️⃣ Make time to review your actual results compared to your budget. Adjust accordingly! Your budget SHOULD be a living document. Take the time to adjust your budget for better or worse as your business changes.

Now is the BEST time to create a budget for this year! If you're one of those people who loves to make a budget but struggles to stick with it... these tips might help! 1️⃣ Make a list of fixed expenses. 2️⃣ Build in room for unexpected expenses. 3️⃣ Make time to review your actual results compared to your budget. Adjust accordingly! Your budget SHOULD be a living document. Take the time to adjust your budget for better or worse as your business changes.

When you are preparing your #budget for your business, there are a few common errors #businessowners make. You want to avoid overthinking your budget. Your budget is a guide, they are not plans for a house. The biggest mistake is not doing a budget. Followed closely by doing a budget because it’s what you’re supposed to do as a business owner. Going through the motions will not guide your business, your budget is not there to restrict you, it’s keeping you on track so can you achieve the success you want. You want your budget to be achievable. Achievable means about 50% attainable. You don’t want it too easy to meet, but you don’t want it too hard to acquire. The goal needs to be ambitious enough to motivate you. You don’t have to account for every expense item, again these are a guide. Have a look at last year’s expenses to get an idea of what to allow for. Don’t make it too rigid, you need to have some flexibility. What you expect to happen now, might not happen in six months. I think we all saw how Covid affected our budgets. The most important aspect of any budget is to review and update as the year progresses. There are opportunities that might present themselves during the year and you need to be flexible and revise your budget to accommodate them. #budgeting #taxadvice #accountingtips

Does the word "budget" immediately make you feel uncomfortable? For many people, the word "budget" has some negative connotations. It's very easy to think of your budget as the tool that tells you what you can't spend, but the truth is that a budget tells you what you can spend, too. A budget simply gives your money a job, and without one, money comes in and out of your household without a plan or structure in place. If you've ever lamented that you don't know where your money goes every month, you need a budget. Read more in the article below. https://lnkd.in/evAYWJFB

Creating a budget is easy. Sticking to it is hard. Luckily, following savvy budgeting and saving tips can help. According to recent surveys, 74% of Americans have a monthly budget, but 84% of those with a budget fail to stick to it.1 If this sounds familiar, these budgeting and saving tips can help you create a more realistic budget you can feel motivated to stick to. https://loom.ly/nvn8LF8

When I say the word "budget", do you feel your palms start to sweat? 😰 Now before you scroll by this post, all guilty-feeling, let me assure you: 𝘣𝘶𝘥𝘨𝘦𝘵𝘴 𝘢𝘳𝘦 𝘺𝘰𝘶𝘳 𝘧𝘳𝘪𝘦𝘯𝘥! Know what a budget is? It's just a plan with numbers. That's it! Not only that, it's a great financial tool that helps make your business more profitable, easier to run, and more likely to hit your goals! Here's 3 simple benefits you can get from a business budget. 𝟭 – 𝗝𝘂𝘀𝘁 𝘄𝗿𝗶𝘁𝗶𝗻𝗴 𝗼𝘂𝘁 𝗮 𝗯𝘂𝗱𝗴𝗲𝘁 𝗺𝗮𝗸𝗲𝘀 𝘆𝗼𝘂 𝗺𝗼𝗿𝗲 𝗹𝗶𝗸𝗲𝗹𝘆 𝘁𝗼 𝘀𝘁𝗶𝗰𝗸 𝘁𝗼 𝗶𝘁 When small businesses make a budget, 50% of them stick to it for 2 quarters … and another 11% come UNDER budget! 𝟮 – 𝗖𝗿𝗲𝗮𝘁𝗶𝗻𝗴 𝗮 𝗯𝘂𝗱𝗴𝗲𝘁 𝗺𝗮𝗸𝗲𝘀 𝘆𝗼𝘂 𝗺𝗼𝗿𝗲 𝗹𝗶𝗸𝗲𝗹𝘆 𝘁𝗼 𝗮𝗰𝗵𝗶𝗲𝘃𝗲 𝘆𝗼𝘂𝗿 𝗴𝗼𝗮𝗹𝘀 A budget is just a plan with numbers, and that plan is meant to (1) map your financial terrain and (2) create a route to your goal. And just creating the budget makes you 20-40% more likely to achieve that goal! 𝟯 – 𝗔 𝗯𝘂𝗱𝗴𝗲𝘁 𝗵𝗲𝗹𝗽𝘀 𝘆𝗼𝘂 𝗲𝗮𝘀𝗶𝗹𝘆 𝗮𝘃𝗼𝗶𝗱 𝗽𝗿𝗼𝗯𝗹𝗲𝗺𝘀 If you knew the bridge was washed out, you'd find a different route to cross the river, right? 4Same with your budget – if you know you need to make a big purchase in 6 months, you can easily save up for it month by month, instead of overspending and panicking at the last minute. And in case you wanna learn more, I've included an article in the comments👇 that goes into more detail about how to create a flexible budget for your business type What about you? Do you have a budget written out for your business (even a rough one)? If so, what tools do you like to use for creating and maintaining your budget?

Now is the best time to create a budget for this year! These tips might help if you're one of those people who loves to make a budget but struggles to stick with it. 😉 1️⃣ Make a list of fixed expenses. 2️⃣ Build in room for unexpected expenses. 3️⃣ Make time to review your actual results compared to your budget. Adjust accordingly! Your budget should be a living document. Take the time to adjust your budget for better or worse as your business changes. #bookkeepingtreats #virtualbookkeeper #bookkeeperfortherapists #privatepractice #bookkeepingtips #onlinebookkeeper #bookkeepinghelp #budgeting