JENNIFER HALEY, CPA
Hi there, I'm Jennifer Haley, CPA. I'm here to help business owners get a handle on their finances so they can get back to doing the things they love.
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Financial Awareness 💭 ✔️
Set a reminder each week and take 15 minutes to check in on your bank accounts, credit cards, and loans.
Just the act of being aware of your money and what you have will help you make smart money decisions as you move through the next week.
It also allows you to pick out any bad spending trends that may be starting to form (you know, unnecessary dollar store trips, or breakfast every morning because you forgot to hit the grocery store).
Once you check in with you accounts you can realign with your goals and be prepared to take on the new week.
Let me know when you are going to schedule your weekly check in 👇 During Sunday morning coffee, Monday morning at work, or Friday night as you wind down from the week.
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Intentional Spending is the MOST important tip I can give!
Did you know that if you skip your weekly coffee and invest that money in your TFSA you could have $21,000 in 25 years! Or if you put that money on your credit card you will make a total extra payment of $285 within a year.
You're thinking, "Jenn yes my parents have always told me to cut out 'dining out' and I will be able to save for retirement. But I still don't listen to them because I like having fun!"
My response....Yup, stripping yourself of your enjoyment will not save you money!
This tip isn't about physically putting that coffee money in a jar, it's about being intentional in how you spend your money.
Raise your hand if you are like me, buy 3 beer at the brewery when 2 would have sufficed 🙋♀ (local breweries/coffee shops, I love you! Trying to make sure your customers have money to continue to spend with you long term!)
Instead shift your mindset, is the money I'm about to spend worth it, worth messing with your retirement plan, or your travel savings? For the next week (at minimum) when you spend money ask yourself, can I scale this back, am I actually going to enjoy this purchase or am I just doing it to do it? Is this purchase worth risking my goals?
Let me know below how much you save in a week asking yourself these questions 👇
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FINANCIAL GOAL SETTING
🌟 Today's money matters tip is all about financial goal setting 😆
Okay, stay with me here...I bet a lot of you have already started to gloss over or even thought that first sentence was a little cringey. But TRUST me, goal setting is SO important in getting your finances in order.
Throughout the next months I am going to provide you with a lot of fun tips around saving and spending; without having any goals set, most of these tips will fall short.
Goal setting doesn't need to be this big thing. I am just asking you to take a few minutes, think about a few financial goals you'd like to reach and write them down on a piece of paper. Tuck that piece of paper in your wallet or a safe place where you can check back in on it.
Make these goals realistic, attainable and exciting. Do not make your first goal to save $1.5M for retirement 😴 My first financial goal was to pay off $5,000 of debt in one year. That is it! Here are some examples:
✔️ Save $1,300 for a vacation next year
✔️ Invest $50/month for my retirement
✔️ Pay $2,000 off my credit card in the next year.
Now get goal setting and let me know what ones you come up with!