Member Articles

Write an article!

Get your financial house in order -- before you lose it!

How to build a strong financial house built on a foundation that will last.

by Debbie Gilster  |  798 views  |  0 comments  |        Rate this now! 

So... how does one get started? You MUST start with your foundation. Every business, no matter how small, must have an "accounting" department. Yep, even us solopreneuers! The IRS says we must have a good recordkeeping system in place, so be ready in case you're ever audited. (This is NO different for our personal finances either.) Here are three things you can do to shore up your foundation.

1.) Get a paper management "system" in place that provides a stress-free flow. Corral your financial stuff in one place and create a bill payment area for you to work. Include a simple filing system for all your receipts, accounts statements, customer invoices and reports. Have some retention guidelines to help you decide what to keep and what to toss.

2.) Use some sort of computer tool. QuickBooks for a small business or Quicken for home. Heck, even use a spreadsheet like Excel if you need to start somewhere.

3.) Determine a regular schedule of when you will handle your financial matters. Create a checklist to help remind you what to do on a weekly, monthly, quarterly and year-end basis.

Just get started! Sharpen your discipline now and agree to stick with it for six months. I promise you'll see results in just a few months if you are honest with yourself and make some changes. If you fall off the cart, get back on! This is the one area in which you are in control.

About the Author

Debbie Gilster is the Financial Effectiveness Maven at the Center for Growth and Productivity. She teaches small business owners to be financially savvy so they can live the life of their dreams. Sign-up for your FREE special report "3 Mistakes Small Business Owners Make Managing Their Finances - And How To Avoid Them" and bonuses at http://www.DebGilster.com

Read more by Debbie Gilster

Leave a comment

0 comments so far...

No comments yet.

Have a question?

Check out our popular Q&A area to ask questions and search for answers.

Quick recipes

Check out our favorite quick and easy recipes, perfect for busy moms.

Affordable Luxuries Blog

Check out our daily picks for affordable luxuries for you and your family.

Subscribe to our Weekly Newsletter