Financial Planning For Your Personal & Business Finances


At SIR Accounting & Tax my goal is to help individuals and businesses stay in financial shape. I help countless customers every year, and one thing I always see is chaos and clutter when it comes to keeping financial records. Now, I understand that managing finances (whether personal or for your small business) isn’t enjoyable or even easy. However, keeping tidy and organized financial records makes your life and the life of your accountant so much easier! Today I’ll share tips on how to stay organized and why it’s so important for your financial success.

How staying financially organized can help you sleep at night.

Every entity, whether a family or an organization, has financial goals. If you are handling your family finances, your goal may be to take a vacation next year or buy a house. If you are handling your small business finances, it may be to double revenue in 6 months. Whatever the goal is, it’ll be nearly impossible to meet if you are oblivious to your finances. When you know where your money is coming from and where it’s going you’re able to successfully manage debt and bring spending in line with your financial goals. In addition, studies show that being informed about your finances leads to less stressful living! So, let’s find out how to stay financially organized.


Keeping Business Finances In Order

Most people aren’t numbers people , including small business owners and entrepreneurs. Unfortunately, this leads them to skip their business finances altogether. I highly discourage this approach! You don’t have to be a numbers person (like me) to keep your business finances in order. All you have to do is keep good records and let me at SIR Accounting & Tax handle the rest! 

One of the most important steps in keeping your business finances in order is keeping your business and personal expenses separate.

I know that it’s not convenient to carry multiple cards or remember multiple pins, and your wallet may already be busting at the seams. However, using your business card for business purchases make tax return preparation, P&L statement composition, and budgeting extremely simply and less time-consuming.


Investing in an online accounting tool is another great way to maintain control over your business finances.

Whether you choose Stripe, Paypal, Quickbooks or any other tool out there, they transform your paper receipts into online reports and give you the ability to automate accounting tasks. Automation and virtual management will transform a heavy burden for business owners into an effortless task. So, do your research or ask us to help you find the right tool.


Knowing where your money is coming from and when it’ll get to you is pivotal in making informed purchasing/investment decisions.

I always recommend that my clients who own a business keep monthly revenue projections for about 6 to 12 months out. This kind of knowledge can give you a sense of security and allows you to accurately plan out big purchases and possible investment opportunities. For example, if you know August is going to be a slow month, hold off on any nonessential purchases until revenue kicks back up. Or, if you have a pleasant surge in monthly revenue coming up, you can begin to look at investment opportunities. The more you know about your money revenue projections the more informed your decision making will be!


Personal Financial Planning Made Easy

Just as business planning is essential for every business, personal financial planning is equally essential for success in your personal endeavors and happiness! From too much credit card debt to being “house poor”, suffering from bad financial decisions can be avoided with a little bit of planning. We have some great tips to help you avoid financial pitfalls and stay on top of your personal finances.


Become extremely intimate with where your money is going!

When I look at the personal finances for couples or families, the first thing I take a deep dive into is spending. All too often my findings are surprising to clients. Whether it’s an overwhelming amount of money being spent at Starbucks every month or your yearly cable expenses that could have paid off your car loan, knowing where your money is going will help you meet your financial goals much sooner. Of course, it’s tedious to categorize every single transaction your family makes in a month but, having a basic knowledge of essential versus non-essential spending is a great start.


Get motivated to create monthly budgets by including leisure spending.

We all know that budgets are a pain. They are essential in helping you stay on top of your financial obligations, but they are still a pain. I encourage clients to look at budgets in a more positive light; budgets also help you plan for present and future leisure activities. When you sit down and begin budgeting, be sure to include setting aside money for vacations, trips or concert tickets, thus transforming budgets into an insightful tool instead of a daunting chore.


Having multiple savings accounts might seem like more chaos, but it actually helps with goal planning.

Most people have multiple goals and dreams. Well, why shouldn’t you have a savings account that corresponds to the fulfillment of each of those goals or dreams? This goes beyond that “emergency savings account” filled with the usual 6-month expenses that we all should have. Having a separate savings account for every dream or goal that requires a large amount of money gives you the ability to develop financial strategies to achieve those goals or dreams. From family vacations to designer clothes to a brand new boat, keep your eye on each prize in an orderly and organized fashion.



Don’t let your personal or business finances get out of hand. Contact SIR Accounting & Tax today if you need further assistance in getting organized!

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