Prepare for Financial Success in 2016 TPS155 

TPS155If you want to increase your income in 2016, it’s important that you improve your relationship with money. Obviously, if what you are doing now isn’t working, you need to do something else. In this episode, I talk about actions you can take to allow you to improve your relationship with money and earn more in the coming year.

Highlights

  • Have you made a decision about your business’s legal structure? (LLC, S Corp, etc.)
  • Part of your job is to learn about money.
  • The more you know about money and how to take care of it, the less fear you will have.
  • Make a conscious decision to improve your relationship with money and take action.
  • Money goes to people who love and take care of it, and what it likes best is to be counted.
  • Keeping track in software like QuickBooks, Quicken, iBank or Mint.com is better than using an excel sheet.
  • A bookkeeper is a good idea after you have learned the basic.
  • Be sure you know how to interpret the reports a bookkeeper provides.
  • You have to make a lot of financial decisions and facts will help you make better decisions.
  • If you dream of having a much bigger business, you must know your numbers.
  • I share what I use for managing my money.
  • Using QuickBooks, at the end of the year, you just have to give your file to your accountant.
  • You need to know how to do some basic tasks, like reconciling your checkbook.
  • When you learn how to track your money, you spend less.
  • The reports you get in the software helps you see the flow of your money and make better decisions.
  • When you are familiar with your numbers, you can make better financial decisions.
  • An accountant can be like a benevolent parent.
  • There’s a difference between a savings account and a life-happens account.
  • Taking care of your money is empowering.
  • When you take care of your money, you’re making a commitment to earning more.

Links

Intuit Online Payroll

Intuit Payment Network

Quicken

Quickbooks

Mint.com

iBank

Sage