December 20, 2017

5 Ways to Fix Your Finances in 2018

Are your finances on track for a successful 2018? Accountant financial advice from the team at The Kelvin Partnership will help you in the new year! Even if you think your financial situation is stable, having a review at the beginning of year is no harm. An area where there is always room for improvement, sort out your finances in 2018.

The Kelvin Partnership are a team of highly skilled and qualified accountants, based in Glasgow’s West End. We have been providing trusted accounting services and advice to businesses in a variety of industries for over 30 years! With so much experience, when you a Glasgow accountant from TKP, you can expect the highest of standards.

Budgeting is Key

budgeting for financial improvments

Make sure the budget you create is realistic, so you can stick to it!

In the case of both personal and professional clients, we advise that you start with a realistic budget. Creating a budget will mean you have something to stick to, throughout the year. It will ensure your finances are in a stable situation at all times. Consider your income, any fixed costs, variable expenses, any one time spends you can predict for coming months and then combine this all together. If you are struggling to establish a budget, the accountant financial advice team from The Kelvin Partnership are happy to work with you!

Set Goals

goals from accountant financial advice

Setting goals in the new year will ensure you are always achieving and developing!

A similar way you can improve finances in 2018 is by setting goals. Set short-term and long-term goals and keep track of progress. Not only will setting different goals be fulfilling for you, personally, but if you are a business owner, you can create a whole rewards scheme around it! Give employees an incentive to be more productive and organise rewards when goals are reached! A great way to fix finances, but also improve work ethic and bonding within the workplace.

Create an Emergency Fund

emergency financial fund

Create an emergency savings fund for worst case scenarios in 2018!

It is crucial to have emergency savings. If there are any unexpected expenses, that you have not planned for throughout the year, you can utilise your emergency fund. Also, in the worst of situations, you can use this fund as a fall back, allowing you to stay in business while solve the problems that went wrong. If you do use the emergency fund it is not something to worry about! Accountant financial advice from TKP will work you through the financial recovery process.

Clear Any Debt

credit card debt

Don’t let the debt of last year hold back business progress!

Heading in to 2018, the last thing you want to take with you is debt. Do not take the burden with you, let our accountants help! When it comes to debt, each case is different. However, sitting down with one of advisors will be much more effective than letting that debt build up. Debt is a factor that will definitely affect the process of you fixing your finances.

Stay Motivated

2018 financial motivation

Stay motivated, follow our advice and your finances will improve in 2018!

The last piece of advice we can offer is to stay motivated! You will not be able to fix your finances overnight, it is a process. As previously mentioned, setting goals will help you stay motivated. Make the whole process exciting! Employees will follow by your example as a business owner, so ensure you are constantly moving forward with a positive mind set.

Accountant Financial Advice with The Kelvin Partnership

With 2017 coming to a close, we are looking forward to the new year! Look at our last post to learn how your business can plan for success in 2018.

Fix your finances with the help our accountants in the new year.