Accountant in Fort Collins

8 Ways To Shape Up Your Finances From Your Accountant In Fort Collins

Accountant in Fort Collins As your accountant in Fort Collins. We can help you stay on track with your financially fit game plan. We are almost a month into the New Year. The Holidays have ended and maybe your new year’s resolutions have too. Do not let that stop you from getting fit financially.

Here are eight classic ways to work on your financial management solutions that will keep giving all year.

  1. Create a budget. Mapping out your financial journey can be the best way to make sure you get where you are going. Start your plan by creating a budget. Be sure to add room for vacations and play time. If you have a guide, it will be easier to stay on track. There are plenty of free templates and apps to assist you.
  2. Pay yourself first. This concept seems so easy, yet it is so important. To pay yourself first means to put your money into savings and retirement first. When you create your budget you should allot for savings and retirement. However, if you don’t pay these first it is very easy to find ways to spend the money before it gets into the savings and/or retirement accounts. If you pay yourself first you won’t be tempted to spend the savings.
  3. Design a timeline to save for big purchases. A timeline gives you a visual for those big purchase savings. This can help you see how much you have put toward a goal or purchase in increments. This gives you greater satisfaction and incentivizes the save. What will you put on the timeline?
  4. Save for emergencies. This is a given but not always seen as valuable. As your accountant in Fort Collins, we want to ask. Should you start saving for the vacation and big purchases; and do you really need to save for the unknown? YES! Without a doubt, if you have emergencies covered you will actually be able to go through with the other expenses you have planned. Generally, you would start with a minimum of three months’ expenses. Having a core fund available is going to help you feel secure and allow for all of the other investments to happen. The plan you build in step one should start after the three months savings are in place. When you have three months out in expenses, you will not be living paycheck to paycheck or under stress. You are prepared to live your most fit financial life.
  5. Diversify. Spread money across investment accounts (stocks, bonds, mutual funds CDs), do not put it all in one place. With modern technology, there are some fun ways to invest. The new platforms such as crowd funding let you invest in new companies. Talk to your local agent to help you invest, divest, and grow your funds in various ways. This can be lucrative and interesting as an investor which we suggest as your accountant in Fort Collins.
  6. Insurance and estate planning – liability insurance, disability insurance. These are vital to health and fitness. These core-planning exercises will secure your future. The most important aspect of estate planning is having a will. If you have not drawn up a will, now is the time. For insurance planning you can evaluate your assets and make sure, they are each covered and secure. Please talk to your financial planner about these critical areas.
  7. Minimize your tax burden. Make sure you keep good records of all of your financial and tax transactions., Consider creating a tax folder to better organize your taxes. This is important so that your tax accountant in Fort Collins can minimize your taxes. The less taxes you pay the more you are able to save.
  8. Pay them in full – credit cards, student loans, and car payments. This can keep your credit score in the best condition for the year. You will be able to live the life you want if you keep your accounts in good standing.

We realize you cannot do this alone. These are easy steps to take, but you may need help. Reach out to one of our “personal financial trainers” at our Fort Collins accounting firm for your financial fitness guide. Get started with a better financial you in 2017!

If you have any questions call us at : 970.223.0792.

Your Fort Collins Accounts and Loveland Accountants.