https://www.missoulabookkeeper.com/blogarchive daily 0.75 2025-04-17 https://www.missoulabookkeeper.com/blogarchive/finance101 monthly 0.5 2025-03-24 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/70cb85c6-e6ed-4894-ab41-5ec219ca39d8/PXL_20241225_175750325.jpg Blog Archive - Finance 101 - Did you know… A 2024 survey shows that HALF of adults in the U.S. lack financial literacy, and that number is dropping from previous years. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/13c45dec-bc60-4fb5-8983-724e9c254b6d/PXL_20241203_175132936.jpg Blog Archive - Finance 101 It surprises people when they find out that I don’t have a finance background or an accounting degree. Most of my professional career was spent working in non-profit management and programming. I also didn’t grow up learning about finances and business, despite the fact that my parents have been small-business owners almost my entire life. Most of what I knew about financial management when I started Missoula Bookkeeper in 2018 came from sitting in budgeting and planning meetings and managing my own departmental budget and my own personal finances. I also have a natural aptitude for numbers, spreadsheets and technology so I was able to learn the ropes more quickly than I might have. I was also lucky to start the business with four, very patient clients and a bookkeeping mentor that helped me navigate the details and the processes of bookkeeping and business finances. All of this to say that I don’t think that financial management and business savvy are easy or come naturally to most of us. It is a process and it can be really frustrating if you don’t understand some of the basics or you don’t have the background or education to give you a solid foundation. I want you to know that it’s ok and you are not alone. 90% of my new client consults touch on or address some sort of shame on the part of the business owner or ED about the state of their books or processes or their own lack of understanding. Almost all of you got into the work you are doing because you enjoy the actual work or the mission, not because you love the logistics of running a business or non-profit. Over the next month, we will be serving up our version of Finance 101 to help you feel more knowledgeable and equipped to run your business or organization. Here’s just a few things we will cover: The difference between a bookkeeper and an accountant Basic financial vocab terms Some of the back end insights into how bookkeeping works Tips on how to manage your own bookkeeping or work with your bookkeeper more efficiently Tools and systems for better business finances We hope that this month helps answer questions you have and makes you feel more competent and informed as a business owner or non-profit executive. Please send questions our way if you have them! https://www.missoulabookkeeper.com/blogarchive/appointment monthly 0.5 2025-03-31 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/bab714e2-7c92-4bab-bc83-feabf35aeb90/Lora+%281%29.jpg Blog Archive - This is how I make my finances feel a little less scary. I have an appointment every Monday, first thing in the morning. I sit down with my coffee, open my laptop and prepare to get serious. It’s an appointment with my bank account. Can I tell you a secret? I used to be that person that rarely took a deep dive into my finances. It was for many reasons–I didn’t want to face the cost of living, I didn’t have the emotional bandwidth, I didn’t want to have to make hard choices, I felt guilty about my spending…the list goes on and on. But, you can only ignore things for so long before they catch up with you (often in big scary ways). I had to develop some healthier financial habits, so I started scheduling time to evaluate my situation. It feels big at first; coming to terms with your income boundaries and putting some self-imposed rules in place and that’s because it is. Taking a close look at your debt and savings can make you feel like you are failing. But I encourage you to keep pushing past that, because putting your head in the sand only makes things worse. Scheduling regular times to check your budget and make adjustments actually gives you peace of mind, because dreading the worst is so much scarier than knowing the reality and being proactive. Pick a regular time you are going to face the music, and stick to it Start simply: nail down exactly what your bills are and what your debt is Make small changes: Cut out stuff you aren’t really using or things you are buying out of habit, guilt, obligation or impulsivity Figure out what your goals are. Pay down debt, build savings, travel more, etc Once you get all that in order, you can tighten up a real, grown up budget. Maintaining your financial health is so much easier than repairing the damage done by avoidance. It’s not punishment, it’s an investment in your financial well-being. Do you need an accountability partner to get your personal or business finances in order? Want to see how we can help you reach your goals? Are you already a client and want to check in? linktr.ee/missoulabookkeeper https://www.missoulabookkeeper.com/blogarchive/healthy-budgeting monthly 0.5 2025-03-31 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/b973c796-67e8-41da-9253-dcd6bda9b2cb/Healthy+Budgeting.jpg Blog Archive - Healthy Budgeting: Get the fun stuff & meet your goals without totally losing it. Developing a budget is a lot like New Year’s resolutions. You start out focused and ready to conquer the world. Even with the best of intentions, we don’t live in a perfect world and motivation wanes. Your January 1 self vows to eat salad, but the random-Tuesday-in-March self ends up doing the grocery shopping, to put it plainly. If you have been saying to yourself: I really need to get on track with a budget, then I have some advice for you: Do it, but get real. By now, I hope you have gathered that this is a no judgement zone. You’re not going to get any outdated and unreasonably strict advice here. Life happens and sometimes we make choices that are less than perfect. When you are figuring out a budget, flexibility is key. So planning for your splurges is better than expecting perfection. A couple of points to think about: If you miss your mark constantly you won’t stick with it and it will be a financial free-for-all. Constantly feeling like you are failing ain’t cute for your mental health Expecting one budget to work forever and in every situation is a recipe for disaster It’s admirable to set goals for your spending that challenge you to make positive changes in your bank account. After all, there is no growth without pushing yourself a little. But reaching for an ideal sets you up for failure. Here’s what I recommend: Make your spending and savings goals challenging but realistically achievable Check in often to make sure you are allowing for a change in circumstances If you find it’s becoming easier to hit your saving and spending goals, adjust to make more progress There is no shame in starting out simply. For example, instead of overhauling your whole budget, set a savings goal for a month and see how it goes. What happened that made it easy or difficult to hit that mark? Take that into consideration and make changes to your spending gradually, rather than all at once. A budget is a TOOL for growth, not a punishment. Need help getting started? Go to the link here: linktr.ee/missoulabookkeeper and set up a FREE consult to get your small business bookkeeping or personal finances in check! https://www.missoulabookkeeper.com/blogarchive/less-stressed monthly 0.5 2025-03-31 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d165eaba-8d11-46ff-9b31-3c95bfc0cb3f/Copy+of+This+habit+will+make+you+50%25+less+stressed+at+this+time+next+year..jpg Blog Archive - This habit will make you 50% less stressed at this time next year. We are heavy into tax season over here! We are checking reports, double checking reports, collecting statements and working hard to get 2024 tied up in a neat bow for all our clients. Can we talk to you about a habit that would make this time of year a little easier? For those of you who use contractors, you may or may not realize that some of them will need a 1099 at the end of the year to report their earnings. There’s some nuances here, but basically if you paid a non-employee more than $600 for a service (not a physical product), you will have to issue them a 1099. In order to do that, you will need to collect a W9 form from them that has their legal information, including their tax ID number. Pretty simple, right? Yes…and also no. You see, this process can be pretty simple if you get in the habit of getting that W9 right away when you start working together. In fact, some folks have a policy that says that they won’t do one shred of business with you until they have one. While that may seem harsh, it’s a pain in the you-know-what to try to gather all those W9’s at the end of the year (especially when you have a bunch to deal with). If you are one of our clients, you may see requests for these documents (or at least an email so we can track it down) as your contractors hit the $600 threshold. Don’t put it off! The end of the year is hectic enough with REGULAR life AND trying to get your business books closed out for the year. So do yourself (and your bookkeeper) a big favor and gather as you go! Want to know more about the specifics of 1099’s? Check out the post pinned at the top of our page! https://www.missoulabookkeeper.com/blogarchive/dont-judge-me monthly 0.5 2025-03-25 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/0d539fba-92e8-492d-be64-5a151698ab7e/Please+don%E2%80%99t+judge+me+for+this..jpg Blog Archive - Please Don’t Judge Me For This… I’m a pencil and paper gal at heart. Only in the last couple of years have I finally given up on my paper date book with the big squares and graduated to a digital version. While it certainly is more efficient to have it all at my fingertips, old habits die hard and I have often found myself under a pile of random notes on scratch paper. “It’s here somewhere!” I say, looking for the information I know is on the corner of a pink piece of paper, in blue ink and written sideways. Is this a sign of ADHD? Probably, but that’s a topic for another blog. I have made many efforts to organize my notes better. Countless folders, printouts and notebooks have passed my desk all with the promise of being the magic solution to end the paper pile. I mean, if I got hit by a bus, how would anyone figure out where anything was? It’s a work in progress, and that’s healthy. Because when you are trying to accomplish anything–personally, professionally, financially or otherwise–it’s important to constantly re-evaluate your systems and processes to make sure they are keeping up with you. Is it working, or is it just familiar? Is it effective? Could someone else in the organization step in and know exactly what’s up? Here are some areas where it may be time to reassess your needs: Password tracking / protection (we use Keeper Security) Project / client tracking (especially if you have a team) Social media and marketing creation and scheduling Budgeting your personal and business funds Invoicing Bill pay Tracking your expenses Appointment scheduling (we like OnceHub) What habits do you need to examine and adjust? What processes are you hanging on to because they are familiar? In the comments, share your struggle and any tips you have for developing good habits! https://www.missoulabookkeeper.com/blogarchive/financial-wellness monthly 0.5 2025-02-21 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/377282be-256b-4d31-abcc-694f8a66883f/PXL_20241203_175209891.jpg Blog Archive - Financial Wellness And A Side Of Vulnerability. As we continue to explore the value of clarity, one of the things that has been on my mind over the past 18 months is my own financial health. Between 2020 and 2023 I dealt with some big, hard, expensive things in my personal life, while scaling my business on the professional side. The amount of mental and emotional energy going into the challenges in my personal life took all of my bandwidth. I was just head down, keep pushing forward. Scaling the business took a lot of financial resources as I built in anticipation of the clients that would come. And I was learning how to translate everything that had relied just on me into the hands and brains of my team. I didn’t do it well at first and there were a lot of fits and starts. With all of these dynamics, I didn’t have any space to assess or pay attention to the financial hole I was getting myself into. Jump to Dec 2023 and my reality check. For the first time in several years, I put together my personal finances in a trackable, reportable system. And it was bleak. More credit card debt than I realized, less income than I needed. I was constantly moving money between business and personal to keep things floating. And I was ashamed because this is what I do, for you, every day. How could I let things get so messy? But I also felt resolved and hopeful for the first time in years. I knew what the reality was and now it was time to make a path forward. Financial wellness is only possible when we have all of the facts of our situation and we are honest with ourselves. For me, this meant tracking my personal and business finances at least quarterly in 2024. It meant enlisting professional help in tackling my credit card debt and getting a solid plan to move forward. It also meant being really mindful about what changes I made in spending and having consistent check-ins to pivot if needed. Now, over a year later, my debt will be paid off in July, the challenges in my personal life are addressed in a way that frees up my mental space and I have a solid path to business development and growth. It took a lot of work and was not always a fun process. But here we are! And this month, we are going to delve deeper into these different facets of financial wellness and what that means for your business or organization and for you personally as a professional. Please share your own journey or tips in the comments or drop us a line! https://www.missoulabookkeeper.com/blogarchive/love-your-bookkeeper monthly 0.5 2025-03-31 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/0cc51480-2a58-4adc-afd5-205fd7c244d2/Copy+of+if+you+love+your.jpg Blog Archive - If you love your bookkeeper, do this… It’s that time of year again, where flowers and candy are everywhere and the whole world seems to be talking about love. Cupid is nice and all, but as bookkeepers, you can show us you love us in some very specific ways that Hallmark doesn’t even make a card for. If you love your bookkeeper (and we know you do), then these are the perfect ways to show it: Answer your questions in the portal regularly Make sure your bank passwords / permissions are up to date Let us know how quickly you want to file your taxes (ASAP, by the deadline, filing an extension) Use that memo line on your checks Speaking of checks–Don’t abbreviate or use acronyms and write clearly Keep track of any expenses you paid out of your personal account Don’t wait until year end to check in Just like romantic relationships, communication is key, so show your bookkeeper some love today and all year long. Happy Valentines Day, friends! https://www.missoulabookkeeper.com/blogarchive/financial-epiphany monthly 0.5 2025-03-31 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/79bdf416-bbca-42b1-b31a-e7d378414b13/Copy+of+These+towels+led+to+a+financial+epiphany..jpg Blog Archive - These towels led to a financial epiphany. I recently did a little refresh of my bathroom. Got a new rug, added a shelf, changed out some decor–nothing huge, just a little update. In the process, I realized that I didn’t really have hand towels that matched that bathroom. I have towels I could use in there, but nothing particularly remarkable, and definitely not worthy of company. As I was explaining this to my Mom, saying that I thought it would be “okay” to buy nice towels in case I had guests, she said something that got me thinking… She said, “It actually doesn’t matter if another soul ever sees them. You deserve nice towels because YOU live here.” I’ve thought about this a lot through the lens of having clarity about my financial priorities. It may sound cliche, but my home is a sanctuary. A place of rest that brings me a lot of peace. Why WOULDN’T my budget be structured to reflect that space as a priority? You may look at your own situation and decide that your focus is elsewhere: travel, experiences, special interests like music or woodworking. Think about what brings meaning and joy into your world and when presented with financial choices (like shopping for things you don’t really need, looking at myself), use that opportunity to decide where those discretionary funds can really serve you more fully. What are YOUR financial priorities for your discretionary income? What places in your world are the most important? Like my hand towels, what purchases have you felt you needed to “justify”? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/employee-reviews monthly 0.5 2025-03-31 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/33c3c2e2-9c11-4546-9df1-f726fbabd61a/Copy+of+Untitled+Design.jpg Blog Archive - Gain Clarity: Employee Reviews The last bit of January at MB is a little like working in Santa’s workshop. Lots of tinkering to get all those 1099s out by the deadline & double checking lists for the big show of tax day. It’s a great reminder that a little bit of preparation saves lot of stress down the road. That said, we want to take this opportunity to encourage you to do a little preparation when it comes to your employees & get those reviews scheduled! I know it seems like an extra task, especially if you don’t have any performance complaints, but there are some big time benefits: Check your blindspot Sometimes people do their jobs so well that it may seem like they have every tool at their disposal. The reality is, some folks are just really good at making things work. Are there systems that just aren't working? Are there any additional tools or education that would make a one hour task a five minute task? This is a great time to really ask what your employees need to do their best work. Expectations are front & center Sometimes we make assumptions. I think I know what you’re doing & you think you know what I’m doing & that’s where things can go sideways quickly. Taking time to talk through everyone’s expectations eliminates the confusion that can lead to missed deadlines & things slipping through the cracks. Morale Reviews aren’t just about “fixing” things. It’s also a great time to let your employees know what they are doing right. It’s so easy to forget to recognize how much they do on an everyday basis. Take the opportunity to show genuine appreciation for their hard work & support to keep things running. Gratitude goes a long way! These reviews aren’t JUST for employees–as the boss, these one on one sessions give you an opportunity to hear what YOU can do better. Also when employees feel like their boss LISTENS to what they have to say, it goes a long way. So we challenge you to take the time over to get those reviews on your calendar. The clarity it brings you and your staff is worth the time and effort. What is the most valuable / surprising thing you have learned in a review? If you aren’t regularly reviewing your employees, why not? Let us know in the comments. https://www.missoulabookkeeper.com/blogarchive/swot-analysis monthly 0.5 2025-03-31 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/f251824c-5c0d-418a-96bb-d4e1dc9558ae/Lora.jpg Blog Archive - Need a tool to help you gain clarity about your business? A great way to gain clarity and plan for the future of your business is to do a SWOT analysis. SWOT stands for Strengths, Weaknesses, Opportunities and Threats, and it’s an exercise to examine internal and external factors that affect your business. We did one at our staff retreat last summer and it was really interesting to see what the team had to say. If you don’t have employees to participate, think about your customer’s viewpoint, or ask a trusted friend if they have any input. You’ll be surprised at what others see. Here’s the questions you should be asking for each element: Strengths-What do you do well? What makes you unique? Do you have an especially skilled staff or other technologies / processes that give you an edge? Weaknesses-Where do you have fewer resources? Where can you improve? Is your brand message unclear? Opportunities-What trends are emerging? What is happening in the world right now that you can take advantage of? Threats-What is your competition doing? Are customer attitudes or the environment changing? Don’t be surprised if your answers here are connected and that there is some crossover. For example, your strengths can be leveraged into opportunities and your weaknesses may leave you vulnerable to specific threats. Having this all down on paper gives you a birds eye view of your overall business. Using it as a jumping off point, you can make choices about where to invest extra time and resources, what to highlight in your marketing efforts, and where to tighten ship. Need help getting started? We have a handy template at linktr.ee/missoulabookkeeper to help you get everything organized and in one place. If you try it out, we would love to know what insights you gain! https://www.missoulabookkeeper.com/blogarchive/clarity monthly 0.5 2025-01-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1f37c380-8ef9-44c4-91d4-7398c24293e5/Jan+image.jpg Blog Archive - Reflection + Planning I love living in a place with seasons. I can't imagine living somewhere that's always tropical and sunny no matter what the season. When the days get short and cold I appreciate the natural rhythm of a little bit of slowing down and hibernation. This year especially, I've become a little bit of a winter hermit. Bundled under my blankets reading my book or working. I also appreciate that this time of year gives me space to contemplate the past year and look forward to the next year. I have a variety of different New Year exercises that I like to do as part of this process. Some of them involve reflecting on the previous year and the successes and failures of that year. Other pieces are forward-looking, with intentions and goal setting. I hope that you take a chance to do some of that in your own life, both personally and as a business owner or a nonprofit manager. Both sides of those exercises give us information and perspective that provides clarity. Clarity allows us to make good choices moving forward and be in the spot we want to be in next year. Part of what I love in working with clients with Missoula Bookkeeper is the opportunity to give clients solid information about the financial performance of their organization or business that they can use in the future. And it also tells the story about where you've been and your history. I think that's such valuable information to have and I hope that you feel that way too. For the first quarter of 2025 we're trying something a little bit different with our social media. We are going to focus on some of the core values of our business and how they relate to what we offer clients, as well as how you can look at your own business through the lens of that value. The value we chose for Q1 is clarity. We're going to talk about finding it, using it to look to the future and how it benefits you and your business. We also hope to bring in a couple of experts that can provide their perspective on how to find clarity and what your next steps are once you have it. If you haven't had a chance to do some reflection on last year and planning for 2025 I would encourage you to spend a few hours doing that this month. Here's a few different exercises that I have done, either this year or in the past, if you're looking for a little direction. Do a SWOT Analysis (Strengths, Weaknesses, Opportunities and Threats). We did this as a team in our staff retreat last summer. There are lots of great online templates for this. New Year’s Intentions BINGO card: Fill a bingo card with one goal or intention per square and reward yourself when you get a bingo. (You can download a really cute one here.) Vision board: I used Canva and Pinterest to do a digital one this year. You can also track down some magazines, poster board and art supplies to do one the old fashioned way. You can see mine here. Word of the Year: Choose one word to be your guiding principle or inspiration for the year and lay out some goals or intentions with that word in mind. Put the word above your desk to keep you on track. Tammi just did a great one and I think you can still get in on the replay here. It is also a great time to get your finances under control or check in to see if you should make some adjustments in the coming year. If you are already a client and would like to meet to go over your books, schedule a meeting here. Not a client? You can book a consult to find out about monthly bookkeeping services or just ask your burning questions. Excited to see what 2025 brings for your business and how Missoula Bookkeeper can be a part of your journey! https://www.missoulabookkeeper.com/blogarchive/focus-on-2025 monthly 0.5 2024-12-31 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1ebbcc5f-2184-4d96-af7a-fe04475a0fcd/Copy+of+Stuff+I%E2%80%99m+Focusing+on+in+20.jpg Blog Archive - Stuff I’m Focusing on in 2025. This time of year is always a time for reflection and an opportunity to adjust your mindset for the upcoming year. Resolutions are soooo last year (and generally make you feel bad if you fall short). Resolutions are more about “fixing” your perceived failures and not about building a better life. Instead, I’m calling this a…shift in focus, and I’ll be concentrating on habits and mindsets that make me feel better in all aspects of my life. So, in honor of the new year, here is my personal list of ins and outs for 2025… Out: Skipping something you want to do because you don’t have someone to go with you Impulse purchases Added sugar / processed food Weak boundaries Putting off your physical, mental, social and emotional health In: Thrifting or buy nothing groups instead of buying new Prioritizing actual plans instead of saying “we should hang out sometime” Focusing on the things you did well at instead of obsessing about failures Being generous with compliments Unapologetically enjoying anything that brings you joy, makes you feel beautiful, capable and alive–no matter how small What are YOU focusing on this year? What shifts in your self-talk will you make? Let us know in the comments how you are going to make 2025 positive, healthy and amazing? https://www.missoulabookkeeper.com/blogarchive/give-yourself-this-gift monthly 0.5 2024-12-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/c3142a57-fc7a-48bc-b1e5-68e257b7ca42/Give+Yourslef+This+Gift.jpg Blog Archive - Give Yourself This Gift. Recently, the whole Missoula Bookkeeper team sat down to talk about our own successes and failures for the podcast. As we were talking beforehand, we all came up with a dump truck of things we felt we could have done better and projects we didn’t complete. Budgets not met, pounds not lost, deadlines long passed without payoff…and then something interesting happened. We called out each other’s successes–things we had totally missed in our own minds that everyone else had noted and admired. However you feel about your own accomplishments this year, please take this as a sign. You may feel like you fell short of your own expectations, but someone else thinks you knocked it out of the park. You may be marking yourself down as a C-, but I guarantee your friends, family, coworkers, neighbors and complete strangers wonder how you manage to be so awesome. Be that person to yourself. Take a moment (yes, right NOW) to congratulate yourself on your wins. I bet you handled a conflict better than old you would have. Did you juggle career, kids and a personal life at the same time? Rockstar! Did you take even one opportunity to prioritize your physical and mental health? Fantastic! If you enjoyed one moment of pure joy this year, that is a huge win. You are AMAZING, and we are so proud of you! https://www.missoulabookkeeper.com/blogarchive/friendship monthly 0.5 2024-12-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/12b8c0cf-f43a-493a-8a09-d879070119fa/Friendship+was+easier+when+we+were+kids.+%281%29.jpg Blog Archive - Friendship was easier when we were kids. While trying to organize a party earlier this year, I had a strange realization. Geographically speaking, I have no friends. While I have a diverse network of wonderful individuals that I talk to regularly and can count on to support me and give me great advice, I have very few of them that live in a radius that doesn’t require planning a month ahead in order to be in the same physical space. While I absolutely subscribe to the “quality over quantity” mindset, it certainly would be nice to be able to say “hey…wanna go to a movie” without requiring a full tank of gas and an act of congress to it pull off. When I was 20, I met people at school or my crappy retail job or out at a bar. Now that I’m (ahem) older than 20, life looks a lot different. I mean…have you tried to make a new friend lately? It’s hard, especially as a single parent who works from home. So, what have I done about it? I switched my bumble app from “dating” to BFF (not like the dating side was doing me much good anyway IYKYK). I also made more of an effort to show up for community events and social opportunities. I chatted with more strangers, including complimenting people out loud rather than just thinking “her outfit is cute” in my head. (This is my favorite one. It really feels lovely to see someone’s face light up with appreciation). NOTE: What didn’t work–going up to someone and asking if she wants to play mermaids. Worked great at the pool when I was 8 years old, now it just seems creepy. Now, I wish I could wrap this all up in a bow and say that I made a million friends, the end, but that’s not the case. Truth is, it’s still a work in progress but I’m calling this a success anyway, because there is success in the effort. But seriously…does anyone want to go to the movies with me? https://www.missoulabookkeeper.com/blogarchive/a-couple-changes-big-payoff monthly 0.5 2024-12-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/2ab25f4f-0f46-48d5-9ee0-dd2e7e6541a8/Angela+%281%29.jpg Blog Archive - A couple small changes made a BIG impact on my health and wallet. It’s not often that I toot my own horn, but here goes: I made a shift in my personal life and won pretty big. I had considered myself to be a reasonably healthy eater. I have my splurges, but for the most part I was conscious about making “good” choices most of the time. To some extent, I was right but here’s the thing: I wasn’t reading labels very closely I wasn’t planning ahead I wasn’t putting much thought into my grocery budget So I made some changes… To start, I took a hard look at the labels on seemingly innocent things I was using all the time–seasoning blends, condiments, canned and frozen items, for example. Turns out, there is sugar lurking EVERYWHERE. Why does taco seasoning or canned green beans have sugar??? It was pretty easy to make small changes to different brands / forms that didn’t add sugar and coloring where it wasn’t needed. Next, I tackled some meal planning and prep. Making enough chicken for 5 meals is about the same amount of work as making chicken for one, as it turns out. Once I knew I had food already prepared and I only had to heat it up, it was much easier to avoid mindless snacking while searching for “something to eat” and MUCH easier to avoid the temptation to eat out. Last…the grocery budget. I began to keep an eye out for the price on my most expensive and most purchased items (hard to save when you don’t really know what a “good” price is, you know?). Instead of throwing away the grocery flier every week, I actually looked to see where the sales were and stock up when prices were good. I DIDN'T go nuts driving all over town to a million places, but just took advantage of the really exceptional deals. Want to know the big payoff here? Well, hold on to your shorts, because I have concrete evidence of my success. By planning ahead, watching my budget, and making the choice to prepare more real food and less packaged and processed stuff: I sleep better My skin looks better I lost FIFTEEN POUNDS And shaved 20% off my monthly grocery bill Not bad, right? I am pretty proud of myself, and I hope you feel inspired to make some positive changes in your own kitchen! https://www.missoulabookkeeper.com/blogarchive/boi monthly 0.5 2024-12-05 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/65765fe7-c35a-40ec-8e17-b3a58f583360/jakub-zerdzicki--F1gB8VGrS8-unsplash.jpg Blog Archive - Everything you need to know about BOI requirements. You may have seen other notices and reminders floating around about the new federal requirement to file a Beneficial Ownership Information Form (BOI) by the end of the year. This may have looked like a possible scam or you may be unsure if you need to file. After doing the research and filing my own report this week, we wanted to give you an update. This is a very legitimate requirement, so please don’t disregard it. This is a free filing, but there are a lot of entities that are offering to file these for you for a fee. If you decide to use the help of an agency to file, please do your research and choose a legitimate entity. There are a few options we can offer for filing: File yourself at FinCEN.gov. It took less than 10min and it was a little bit confusing, but it was pretty easy. This video was the most helpful of the ones I watched: https://youtu.be/7cL9DFmMi68?si=BIOIz8TM5PJB6iGH. If you are running payroll through Gusto, they will file for you for $49.99. If you want to go this route, let us know and we can help you get that set up. Contract with another professional to do it for you. Missoula Bookkeeper can not file for you, but your CPA or Business Lawyer should be able to. Again, please only use legitimate entities and avoid getting scammed. The fees for this will vary. You MUST do this by the deadlines! The penalties are steep and there is no reason not to get it done on time. If you have multiple businesses, you need to file a report for each business separately. If you are receiving this email, we are 99% sure you are required to file. There are exemptions, but we believe your business doesn’t fit the requirements for exemptions. Non-profit organizations are exempt, along with some other business types. If you change ownership or other changes are needed, you will need to file an update in the future, but if there are no changes, you won’t need to file again right now. Please get in touch if you have any questions! https://www.missoulabookkeeper.com/blogarchive/successes-and-failures monthly 0.5 2024-12-03 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d89bd890-dcbf-4152-91dd-1352dc5f3c41/PXL_20241202_215145336.jpg Blog Archive - Successes and Failures: Reflecting on the past year. This time of year, I am deep in reflection and planning. I have always been a big fan of both and I love the end of the year process. I love sitting down and reviewing the previous year. What went well? What did not go so well? What am I excited about moving into the new year and what am I happy to leave behind? I have used a variety of systems and processes for this, but the one I find the most helpful is just a simple stream of consciousness list. I put a large sheet of flip chart paper on my wall and just start listing things that have gone well on one side and things I want to do differently or didn’t love on the other. It's a great exercise to do on your own, or with your family. My kids and I make a list each year with what we loved about the year that is ending and what we want to do or be in the new year. It's a great exercise in gratitude, intention and memorializing. It is also the perfect time to look ahead and start the year off with intention. I revisit and refine this process throughout the year, but here are a few processes that I am doing to be ready to enter the new year. I have a list of anxiety-inducing or very hateable tasks that I have put off this year. I am doing an Avoidant Advent inspired by a TikTok creator. One task and one corresponding treat per day. Let’s do this! I spent a lot of time in 2024 journaling, researching, soul searching and honing in on my core values. I am finishing off the year continuing to meditate on them and carrying them into the new year. I have chosen one overarching value to emulate and explore all year and then divided the other 4 into quarterly explorations in 2025. We are holding our next staff retreat the first week in January so I will pose all of these questions to our team in a few different brainstorming sessions so that our 2024 review and 2025 intentions have buy in from the whole team A lot of the areas that feel like failures in 2024 come from a lack of direction and lack of intention. I am looking at each area to see how I can intentionally make choices in 2025 that will resolve these areas as much as I have the power to do so. Other areas where I feel like a failure are not all in my control. And today in therapy, my therapist gave me permission to just hold space for these feelings and to rest and to not immediately gather the troops and press forward. So I am ending the year giving myself grace and space and I already feel excitement and anticipation for the next step. So, however you do it, I hope you take some time to reflect on this year as it closes and that you head into the new year with purpose and intention and grace! https://www.missoulabookkeeper.com/blogarchive/we-cant-afford-that monthly 0.5 2024-12-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d3c7f6a5-8430-4fad-a630-3080c650995c/Copy+of+Untitled+Design+%281%29.jpg Blog Archive - What to say besides “we can’t afford that”. There comes a time when your kid asks for something and you say no. There’s a million reasons why–it’s crap, they just don’t need it, you don’t want to overindulge them–the list is endless and valid. Today, let’s talk about the most common reason–you simply cannot afford it. Seems like a reasonably straightforward answer when they ask for something, right? “I’m sorry, but we can’t afford that”. However I read something very interesting recently from a (now grown up) whose parents struggled financially when she was a child. Her parents had continually told her “we can’t afford that” and as a result, she had developed a crippling fear of spending money even when she actually needed it and could afford it. While her parents were only trying to be honest, they had inadvertently created anxiety and guilt around their money issues and as a result, their child ended up feeling immense guilt about needing, asking for, or receiving ANYTHING. So, while it’s totally reasonable and valid to be honest about your ability to afford things, it’s also a good idea to shake things up and frame financial decisions in more diverse ways. Try phrases like: “We have a budget, and that isn’t how we are choosing to spend our money today” “That isn’t one of our priorities this month” “If we buy that, then we will have to eliminate another expense. Would you rather have X or Y” “That looks like it won’t last long. How about we wait and keep looking for an alternative?” What other ways do YOU frame the “we can’t afford that” conversation? If that’s a phrase you heard a lot growing up, how has it shaped the way you talk to your own kids about money? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/books-for-kids-and-finances monthly 0.5 2024-12-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/7084196b-7817-4588-a04f-424fc9d41913/Copy+of+You+know+you%E2%80%99ve+read+a+good+book+when+you+turn+the+last+page+and+feel+a+little+as+if+you+have+lost+a+friend..jpg Blog Archive - Great reads for you AND your kids to learn about financial concepts. Looking for something to read over the next couple months while it’s cold and you’re snuggled up inside or maybe you are looking for a practical gift to put under the tree? We have you covered! Here are a couple great reads to help you and your kids navigate a financial education together! For you, recommended by our friend, Erin Steele from Flaherty Financial Services: The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money by Ron Lieber Make your kid a Money Genius (Even if You're Not): A Parents' Guide for Kids 3 to 23 by Beth Kobliner For Them, recommended by our founder, Amy Esp: Money Skills for Kids: A Beginner’s Guide to Earning, Saving, and Spending Wisely. Everything Tweens Should Know About Personal Finance by Ferne Bowe A Teenager's Guide to Investing in the Stock Market: Invest Hard Now…Play Hard Later By Luke Villermin Do you have any other recommendations? We would love to hear from you! If there is a book, podcast, or similar resource geared towards parents and children to help teach financial concepts, drop them in the comments and share the educational wealth! https://www.missoulabookkeeper.com/blogarchive/holiday-shopping monthly 0.5 2024-12-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/99ad4998-b31d-4c54-b4b3-3e11f8903441/While+you%E2%80%99re+thinking+about+holiday+shopping...+%281%29.jpg Blog Archive - While you’re thinking about holiday shopping… Every year as it gets closer to holiday gift giving time, we encourage you to shop small and support your local businesses. This year is no different, but since we know times are tight, we also wanted to share a few ways you can support and encourage local small businesses without spending a dime. Write a review They may have a spot on their website, or use a platform like Google to collect reviews to increase visibility and encourage potential customers. Customers are 63% more likely to trust businesses with online reviews as opposed to those with no reviews. Sign up for newsletters Newsletters and blogs and such are a LOT of work (trust me on this one), and it’s always nice to know you aren’t just screaming into the void. These newsletters often offer discounts or special offers for subscribers. Attend events Anniversary celebrations, fundraisers, community events…it’s always great to see friendly, supportive faces. Make an appearance and say thank you! Engage on Social Media Follow them on IG, Facebook, Pinterest, Tik Tok. Subscribe to their podcast. A little heart or thumbs up on a post might not seem like much, but it actually really helps with visibility when the algorithm knows people are watching. And don’t forget to share posts you like. Tell your friends Word of mouth is really powerful. You may not be in the market for their services, but you never know when someone in your circle would be. So if there’s a small business you like, shout it from the rooftops and tell a friend or neighbor. Tell the business Everyone loves a compliment! Drop them an email or DM and let them know that you appreciate their contribution to the community, that you loved doing business with them, or you enjoy their SM content. Want to show Missoula Bookkeeper some love? Go to this link: linktr.ee/missoulabookkeeper and you’ll find all our socials, you can sign up for our newsletter, leave us a google review and more! https://www.missoulabookkeeper.com/blogarchive/lets-pretend-they-needed-this monthly 0.5 2024-12-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/b0cf54d5-e6be-4cba-b03f-583115d1b4c6/Copy+of+Let%E2%80%99s+pretend+they+NEEDED+everything+in+these+bags..jpg Blog Archive - Let’s pretend they NEEDED everything in these bags. In the interest of transparency, I'm about to tackle a subject that I still struggle with. I KNOW the difference between wants & needs, yet the immature part of my brain often takes over. If justifying purchases I don't actually need were an Olympic sport, I'd be a gold medalist. Maybe you're the same and we can agree not to judge each other, please & thank you. When it comes to my kids, I'm trying to do better & give them lots of opportunities to identify the difference between wants & needs and ACTUALLY practice exercising restraint (Nana is less devoted to the cause). Let's face it: we WANT to give them everything they ask for, but we NEED to get them on the right path for making decisions down the line (see what I did there?). These lessons are going to vary widely based on the age you're working with, but here are a few places to start helping your kid identify wants vs. needs & practice making good choices: Make it a game Use ads, a catalog or magazine to ask questions like: "is this something you absolutely have to have to live, or is it something that's just nice to have?". Use natural opportunities The grocery store or clothes shopping is the ideal location for a hands on lesson about needs vs wants. When you start talking about birthday & Christmas gifts, have them make a list (my kids have one on Amazon because that place has EVERYTHING). They will be able to see how things can fall into wants, needs, or even both & make comparisons to satisfy some of each. Don't hide your budget If we haven't drilled it home yet, transparency is a big deal. Even if it's just a simplified version of your budget, or just a portion of it, showing your kids how you ACTUALLY make wants vs needs decisions will really drive the message home. Volunteer! There's nothing quite like seeing people who really have genuine NEED to really make us grateful for the resources we have, even when we have to make hard choices sometimes. Do you struggle with making yourself stay on budget? Do you do mental gymnastics to justify stuff you know you shouldn't buy? What tricks do you use to stay on track? Let us know in the comments. https://www.missoulabookkeeper.com/blogarchive/kids-password-safety monthly 0.5 2024-12-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/cf7ba3a1-0165-4d01-b1c6-a5bb8e69b1ca/Copy+of+How+To.jpg Blog Archive - Is my kid keeping their password safe? Technology has become such a vital part of everyday life, that we often get a little too comfortable. This is especially true for our kids, who have NO concept of life before the internet and smartphones and GPS. As a result, kids have a dangerously relaxed attitude about online security, more specifically–passwords. Let me let you in on some crazy bullshit the kids are doing now: They have a “streak” going on Snapchat or the Tik Tok or something like that. They get their phone taken away but don’t want to lose their streak They give a friend their password through some absolutely NOT safe method like text or xbox message, or spraypainting that sucker on a billboard. Friend is supposed to keep the streak going while they are grounded. Friend loses, shares out or otherwise leaves password unsecured and leaves access to those accounts vulnerable. Not only is your kid’s personal information in the great wide open, those things may very likely be tied (directly or indirectly) to YOUR personal information like your bank account, credit card or social security number. Chaos ensues. Because kids rarely listen to ANYTHING the first time, the topic of online security isn’t a one and done conversation. Keep reminding them to keep their passwords safe and to change them often. In case YOU need a refresher, when it comes to passwords, experts recommend these “best practices”: Use a mix of upper and lowercase letters, numbers and symbols No repeats–use a unique password for each account (I am SO guilty of this) Don’t use common words or anything related to your personal info, like birthdays Use a password manager (we like Keeper Vault) to keep everything secure AND convenient. Change it regularly Have you ever had a password breach with catastrophic consequences? Have you discovered your kids playing fast and loose with passwords and other personal data? Tell us your scary stories in the comments! https://www.missoulabookkeeper.com/blogarchive/turtleneck monthly 0.5 2024-12-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/184d6ea3-4375-4979-a723-9313b51c2514/I%E2%80%99m+still+mad+about+the+turtleneck.+%282%29.jpg Blog Archive - I’m Still Mad About the Turtleneck. Controversial opinion: There is no such thing as "too old" to trick or treat. It's a harsh world, and if a kid wants to hang on to that last glimmer of childhood magic, we should let them. The same kinda goes for you. Sugar be damned. If you want to eat a pile of candy, go for it. If you want to go all out and put 10 or those giant skeletons on your lawn, please do (looking at you, Karla!). If it brings you joy to pass out full-size candy bars (a lifelong goal of mine that I will finally be fulfilling this year), KNOCK. YOURSELF. OUT. Consider this as a friendly financial reminder as well. It’s important to be responsible and plan and budget and be “good”, but damn it…have some fun. Life is for living. And save me the Kit Kats. https://www.missoulabookkeeper.com/blogarchive/allowance monthly 0.5 2024-12-01 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/c503f0e8-0763-49c0-ae3c-2a40c4c4f3c7/Copy+of+Untitled+Design.jpg Blog Archive - Pros and Cons for giving kids and allowance. Statistics show that MOST parents give their children some sort of allowance AND that it is often tied to performing certain household chores, but did you know that there are some pretty solid arguments for NOT being an “allowance household”? Let’s run them down Kids SHOULD get an allowance If it’s tied to chores or grades, teaches them the relationship between work and pay Making spending decisions (both good and bad) lays the ground work for developing a budget and determining wants vs needs Teaches delayed gratification and the importance of planning ahead If you DO decide to provide an allowance: Check in regularly to see what they are spending on, how they track it, how much they save so you can talk about what decisions they have made and what they learned. This also helps them develop a comfort level around talking about money, which is something that will help them in their future relationships Kids SHOULD NOT get an allowance If you tie allowance to chores, you create focus on the payoff and not the intrinsic value of contributing to the family unit. May contribute to a sense of entitlement Family budget issues may not allow for them to get an amount comparable to their friends If you DO NOT provide an allowance: You can still teach them about financial concepts by allowing them to earn money periodically for “extra” tasks as your budget allows. They can also earn things like extra screen time, a later bedtime, or earn an experience. You might also consider putting them in charge of the budget for a certain area of spending–for example, they can make decisions about a segment of the grocery budget and figure out how to get the most for their money by shopping around for sales or clipping coupons. What do you think? Give us your best argument FOR or AGAINST giving an allowance in the comments! https://www.missoulabookkeeper.com/blogarchive/before-we-begin monthly 0.5 2024-11-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1a97b457-6069-455a-967b-833fe406cb55/Before+we+begin%2C.jpg Blog Archive - Before we begin… This month, we are going to talk about teaching your kids about money and I want to start by making something super clear: You don’t have to have it all figured out. I know, I know…you want to sit down with your kids and show them that you’re a shining example of financial excellence, who has a flawless budget and zero debt. You aren't. You don’t. And that is JUST FINE. You don’t have to know everything about money or have “clean hands” when it comes to your finances. You can be up to your eyeballs in debt, have no budget, no savings and know jack squat about investing and you can STILL help your kids learn. You can learn TOGETHER. The best lesson in money (and everything else) is this: It takes courage to admit you don’t know something, and there is NO SHAME in making mistakes. Every time you keep trying, you win. Need help getting your finances on track? Go here: linktr.ee/missoulabookkeeper and sign up for a free bookkeeping or personal finance consult today! https://www.missoulabookkeeper.com/blogarchive/moneylessonsforkids monthly 0.5 2024-10-24 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/22d4f72a-d936-42b8-988d-9cd0d5eae8df/shopping.jpg Blog Archive - Teaching your kids about money. Last spring, my 12 year old came to me to discuss how he could make a little extra cash. At first we talked about the usual chores: yard, pets, cleaning. But then we started to talk about how he could help me track the family finances and budget. He loves math and has a head for numbers. Plus he’s come of age during the online school of COVID, so he felt really comfortable with computer work and navigating the software. I’ve had a personal Quickbooks account for a few years, but I am terrible at the upkeep (cobbler’s kid has no shoes and all that). So, I set him up with his own login and trained him on the basics and just like that, my son became our household bookkeeper. This exercise is giving him some new skills and it also opens up opportunities for conversations around bigger issues like budgets, saving, cost of living, etc. After he finishes the monthly books, I review everything and make some adjustments and then we run reports to see how our spending tracked for the month compared to previous. We talk about why one area might be higher than normal or where we did a good job of cutting costs. It also jumpstarts conversations around the cost of high ticket items that we have to integrate like travel for his taekwondo or concerts we want to see. It's been a good tool to teach skills that will help him as he becomes a young adult. Another tool I’ve used is a Greenlight debit card for each of my kids, allowing them the opportunity for hands-on learning about saving, spending and investing. My son allocates a set amount of his bi-weekly allowance to investing and enjoys buying and selling and researching the options. He uses his spending money for his video games and when he wants to make extra cash or finishes his bookkeeping, his pay goes right on his card. My 16 year old has a very different spending ethos. She is not interested in investing and will sometimes save for a sweet new pair of Nikes, but is more likely to spend her bi-weekly allowance on snacks with friends or trinkets from Rockin Rudy’s. As she has become a driver in the last year, it has also allowed me to delegate grocery runs, restocking her toiletries or refueling the car by putting money on her card for those errands. It's a huge help and she is getting hands-on lessons in the cost of things and navigating those grown-up processes. Meeting with clients who, as fully-fledged adults, still struggle with finances, has put a spotlight on the importance of integrating financial literacy into my everyday life as a parent. Honestly, I still struggle with some of the concepts (hello investing, what a strange shadowy creature you are), so I am learning along with them sometimes. This month, we will tackle a variety of topics surrounding finances and the young people in our lives. Let us know your own tips and tricks as well as your questions! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/beb8ebf2-2986-4519-b822-74657fdb85f3/IMG_6244.JPG Blog Archive - Teaching your kids about money. Fast Facts: 79% of parents give their kids an allowance, and MOST of those require their kids to “earn” it by doing chores 31% of parents do not discuss money AT ALL https://www.missoulabookkeeper.com/blogarchive/wrapping-up-2024 monthly 0.5 2024-09-24 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/b5df4883-0d7f-44fb-8cbc-41def7e5fe7f/IMG_4223.JPG Blog Archive - Wrapping the year up in a neat bow (stuff to think about in Q4) As we cruise into fall, it's time to start thinking about the end of the year. I know, I know, it's early, but if you start now, your holidays will be chill and tax season will be breezy. Confession: I am a classic procrastinator. I literally just worked with my CPA to get my own taxes filed for 2023 after an extension, barely sliding under the wire for the S-Corp deadline. This year, my books are up to date, but there have been year’s where they definitely were not until well into the following year (0/10 do not recommend for both stress and understanding your business). We also work with dozens of businesses and nonprofits and I know how much better it feels when you have all of your ducks in a row. Not to mention how much better your business functions when you have up to date information to make well-informed decisions. This month, we are giving you the run down of everything you should do or think about before that clock strikes midnight on December 31st. Run a PnL for the year and look at your net profit. Have you planned appropriately for your estimated taxes? Make adjustments now to help ease the pain of a big tax bill. Connect with a CPA. If you have one you love, great! If you don’t, now's the time to shop. We have a list of professionals we love on the website. Get in touch now and get on their client roster before they close their new client bookings when tax season heats up. Gather the information you need from your 1099 contractors. If they have moved or have updated info, get a new W-9 for your records. Have you opened a new bank or credit card this year? Maybe you got a new loan to expand the business? Is it all accounted for in your bookkeeping? Does your bookkeeper have what they need? Make sure there are no last minute surprises and get everything on the books! If you have a bigger profit this year (we’re proud of you!), look at tools to hold onto a little more of your $$. Do you qualify for an HSA that you can put money into? Do you have a retirement account that you can fund more this year? If your net profit is above $40K and you are still filing taxes as an LLC, it might be time to make the leap to filing taxes as an S-Corp. Talk with your CPA to see if that is the right move. As the year closes out, if you are a wholesale/retail company, don’t forget to inventory your products on hand and get that figure to your bookkeeper or into your books. These topics and more will be all over our social media over the next month. As you go through this checklist of things to consider and do, make sure you take time to enjoy this beautiful weather, admire the new fall colors and drink your favorite fall-themed beverage! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/5352fcbd-4ba2-4562-a471-2046c45f9a7e/2024.6.16-MissoulaBookkeeper-24+%281%29.jpg Blog Archive - Wrapping the year up in a neat bow (stuff to think about in Q4) - You’re gonna want to see this… Have you seen linktr.ee/missoulabookkeeper ? You’ll find a link to our meeting scheduler, a selection of links to monthly topic-specific resources and much more. Bookmark it so you always know where to find the latest information! https://www.missoulabookkeeper.com/blogarchive/values-statement monthly 0.5 2024-09-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/f92c3cc2-cec8-469a-b00d-b3e2acea3306/Values+Statement.png Blog Archive - Values Statement: what it is, why you want one, how to write it. You’ve probably heard the term “Mission Statement” and maybe your business even has one. But have you heard of a “Values Statement”? While a mission statement outlines the purpose and goals of a business, a values statement defines what’s important to your business and by extension, its employees. A values statement can be used to remind you what your guiding principles are, which in turn can help you make day-to-day decisions. It’s sort of the “touch grass and take a deep breath” tool to help you when you feel overwhelmed by what decision to make. Here are some values that may apply to you: Sustainability Inclusiveness Communication Women’s rights Innovation To get started, list the values of your business. Don’t worry about how they all fit together, just get as many as you think of down on paper. If you’re having trouble, ask yourself “how do I want my customers to feel?” “How would I want people to describe me?” “What do I value as an individual that I want to honor in my business?” Next, narrow it down to the top 3-5. Third, what specific actions can you take to demonstrate those 3-5 values? What policies and procedures do you have in place (or are willing to implement) that clearly reflect those values? Last, organize those values into a short statement that you can include in your employee handbook, display in the workplace, or otherwise make visible for employees on a regular basis. Sometimes it helps to see a formatted example, so here is one way you might organize your thoughts: {My Company} values {selling sustainable products} This is demonstrated by {regular auditing of inventory to make sure we are stocking the most sustainable products in each category} {My Company} helps clients by {focusing on their individual needs} We will accomplish this by {tailoring our services to each client rather than a one size fits all package} {My Company} encourages {communication and growth} We will accomplish this by {checking in regularly and adjusting our processes as needs and circumstances change} If you have a values statement, or this inspires you to write one, we would love to see it! Share in the comments or drop us a message! https://www.missoulabookkeeper.com/blogarchive/first-employee monthly 0.5 2024-09-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d873d11b-6c87-46c1-bb47-b5a3dffc600e/Your+paragraph+text.png Blog Archive - Payroll 101: Setting up for your first employee As your business builds steam, you will come to a point in the road where you have to decide: is this as big as I want to get, or is it time to bring in some help and take things to the next level? If you decide to hire your first employee, there are a few logistical steps you have to take before you actually bring someone on board: Get a federal EIN if you don’t already have one (there are a million scam sites out there–use the real federal site and don’t pay for anything). Set up EFTPS account to pay the federal payroll taxes Register with the State Department of Revenue for state withholding Register with the State Unemployment office Get Workers Compensation Insurance Other things to think about: You will need to consider a compensation plan for holidays, vacation and leave, what schedule you want to use for payroll (weekly, biweekly, monthly, etc), and decide how your employees will record and submit their hours. A word of advice: You will have much less chance of error and frustration if you use payroll software rather than trying to do it manually. We use and recommend Gusto, which not only runs payroll and handles tax payments, but is sort of an HR all-in-one tool that can really help you track your employee’s journey. Setting this system up early will make a huge difference as your business grows and you are trying to manage the employment process. To make the process easier, there are links to all of these sites as well as a Gusto referral link in our bio. If you’d rather not deal with payroll and you’d like to hire a professional to do it for you, go here. Happy hiring! https://www.missoulabookkeeper.com/blogarchive/paycheck-withholding monthly 0.5 2024-09-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/b2422095-a37c-4ecc-ba24-7fce34f3b08e/Copy+of+What+your+employees+need+to+know+about+paycheck+withholding.png Blog Archive - What your employees need to know about paycheck withholding. We often get a lot of questions about withholding in paychecks and just how that system works and how it affects your end of year taxes. If your employees are similarly confused about how the amount is calculated or if they can adjust that number somehow (or if they SHOULD adjust it), here is some info they will probably be interested in: First of all, withholding is tax that an employer “withholds” from a paycheck and then sends directly to the IRS on the employee’s behalf. The amount withheld is based on how much you earn and what you put on the W-4 form that you submitted when you started your job. If you decide to change this information, you can submit a new W-4 at any time. If too much is withheld, you get a refund. If not enough is withheld, then you owe the IRS. The IRS has an estimating tool on their website to help you figure out if you will get a refund, tax due, and how take home pay is affected. You can find it here. Have your paystub and most recent tax return ready. So, SHOULD you adjust your withholding? Maybe! If you owe a large amount to the IRS, an adjustment can help you owe less next year. Keep in mind that means a slightly smaller paycheck over the course of the year. If you got a huge refund–that’s not free money– you gave the government a free loan! Wouldn’t it be better to have that extra money throughout the year? When it comes to withholding and taxes, getting as close to zero is the name of the game. Keeping as much of your paycheck as possible throughout the year while keeping your end of year tax bill minimal is making the most of your hard earned dollars. When was the last time you adjusted your withholdings? Do you strategize to “break even” or do you just cross your fingers and hope for the best? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/ready-to-hire monthly 0.5 2024-09-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/e47653b9-f86b-4131-a2cb-0dfe1016ebc9/Are+you+financially+ready+to+hire+your+first+employee.png Blog Archive - Are you financially ready to hire your first employee? Your small business is blooming and you are at a crossroads: it’s time to bring on an employee! Before you start thinking about posting an ad and conducting interviews, a very important question needs to be addressed. Are you FINANCIALLY ready to hire? It’s not just the hourly wage! There are a lot of costs involved with bringing in extra help that you may not have considered like: New equipment like computer, desk, workspace, uniforms, or safety equipment Social security tax, medicare, payroll and state unemployment taxes Workers compensation insurance Employee benefits like health care or retirement Not sure if you can afford to add to your team? We can help! Current clients go here (not a client? go here) and schedule a meeting and let’s crunch the numbers! https://www.missoulabookkeeper.com/blogarchive/employee-handbook monthly 0.5 2024-09-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/0702880c-9b38-4662-9e28-e77ed7daede8/Your+paragraph+text+%281%29.png Blog Archive - You don’t HAVE to have an employee handbook, but here is why you should… Doesn’t it feel like having an official “employee handbook” is a big, grown up, not at all “small” business thing to have? The reality is, an employee handbook can make your boss life a lot easier AND cover your ass legally. An effective handbook should include the following information: Company history, mission and core values Working hours (or remote policy) dress code and code of conduct Resignation, discipline and termination processes PTO and leave policies for sick time, vacation, maternity, military service, etc in accordance with federal law Outline of benefits / privileges Privacy and security information Where employees can report workplace claims and violations An “acknowledgment of receipt” that shows the employee is aware of all of this information Outlining the rights and responsibilities of both employer and employee will make your working life so much easier, but more than that, if legal issues ever arise, having your policies laid out and backing it up with an “acknowledgment of receipt” shows a good faith effort to keep everything legit. The law doesn’t REQUIRE you to have a handbook, but it’s a good practice for peace of mind. It may feel like a daunting task, but creating an employee handbook doesn’t have to be like writing a novel. There are plenty of templates available out there so you can “plug and play” your specifics and have a real, living document in short order. https://www.missoulabookkeeper.com/blogarchive/unique-benefits monthly 0.5 2024-09-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/6258e749-ceee-40f9-9bfa-c217e9d2af45/Feeling+Passionate.png Blog Archive - Benefits you can offer your employees that are creative, unique and inexpensive. For a small business, offering employee benefits can be a tough road. You value your employees & what they add to your business, but the cost can be prohibitive. Health care & retirement plans are kind of the gold standard, but there are lots of unique & low cost ways to show your employees how much you appreciate them. Self Care Stipend I read about this a long time ago, and it’s such a fun idea! Monthly or quarterly, or whatever you can afford, each employee is allotted an amount (let’s say $100) & they have to spend it on a treat. New headphones, a massage, a great meal, anything unnecessary is fair game as long as they submit a receipt. Access to a tool you already pay for You’re already paying for apps & software, so why not make the most of it? Many of the tools you already pay for have free or low cost ways to add additional users. For Missoula Bookkeeper, that means employees get free access to their own QuickBooks account to track their finances & a personal password manager account. Wellness benefits Wellness is more than just health insurance. Gym memberships, access to mental health tools, smoking cessation programs, or financial wellness training all contribute to the overall wellness of your employees. Personal development Employees with outside interests are much happier & more productive. Why not spring for a course or training in any subject they are interested in? An online membership to a library of topics like One Commune, Udemy, or Coursera are all low cost options. Tickets / gift cards If your financial situation dictates that your appreciation is a little more “now and then”, tickets to an event or a gift card is a perfect option. When you have a little extra cash, grab a gift card or two and save them to recognize special effort or other milestones. Employee discounts, weekly lunches, and casual Fridays are great, but sometimes you gotta get creative to really set your business apart and keep great employees. Your funds may be limited, but there are a million ways to show your employees that you value their contributions. What unique and inexpensive ways have you given back to your employees? Let us know in the comments. https://www.missoulabookkeeper.com/blogarchive/being-a-boss monthly 0.5 2024-08-28 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/f288a2c0-96cb-49a7-b162-96e84f20f62a/IMG_3951.JPG Blog Archive - Being A Boss. - Reminder! Estimated tax quarterlies are due SEPTEMBER 16! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/12106dc6-7bb4-4ed0-8f74-3151ab08dc73/2024.6.16-MissoulaBookkeeper-23+%281%29.jpg Blog Archive - Being A Boss. As COVID raged, I realized that I had capped out my capacity to take on any more clients without adding to my team. It was terrifying to think about adding that expense and responsibility though, and I vacillated for a while before I finally took the leap. Having managed payroll for several clients for a few years, I knew the basics and how to best manage it, but it was stressful to start the process and it's still stressful sometimes. Through conversations with clients and other small business owners, I know that being a boss and a manager can be a challenging and consuming part of your job. Maybe, like me, your business is growing and it's time to bring on some help, or perhaps you have had employees for years, but it's a little more loosy-goosy then you want it to be, or maybe finding (and keeping) employees post-COVID has been harder than it used to be. Whatever your employer situation is, we want to help you navigate the challenges this month and help you set things up for success. Here are some of the topics we will cover: Getting started with payroll: where to set up and register as an employer, what are the requirements How to go about hiring (and keeping) good employees, including what questions to ask in an interview so you find the right fit and don’t sound like an amateur Benefits that small business owners can offer— they don’t have to be complicated or expensive Employee policies and communication for success How to be a better manager What to do when it's time for an employee to move on, whether it’s their decision or yours If you have questions or experiences with being a boss that you want to share, please shoot us an email or a comment on our social media. We look forward to helping you grow and become a better boss and business owner! https://www.missoulabookkeeper.com/blogarchive/getting-older monthly 0.5 2024-08-28 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/73ecd818-d185-4f74-8f0a-8af3b74db1dc/Copy+of+How+are+you+preparing.jpg Blog Archive - You can’t help getting older, but you can make it easier. If you have kids, you know how much work it is to take care of them physically & emotionally. You are probably so focused on getting them to adulthood (and beyond) that you haven’t even considered what life will look like as your roles shift & they start to “take care” of you. it’s never too soon to think about the ways you can prepare. The transition will be difficult, but here are some things to think about to help you (& your kids) navigate that time as easily as possible: Plan for retirement Review your spending habits to get a feel for how much money you need to support your lifestyle. Then develop a plan to build wealth & support your needs when your ability to work diminishes. Review your plan annually to keep up with changes to your life & the economy. Find a professional here Take care of your physical health Taking care of your health doesn’t just help you live longer, it adds quality to your years & can help minimize the amount of support you need as you age. Get your papers in order A lot of stress & conflict for your loved ones can be mitigated by getting your will, power of attorney and financials in order ahead of time. Being very clear about your wishes & discussing it with your loved ones saves a lot of decisions for them at a time that will be incredibly difficult. Keep an open mind Staying open to new ideas & experiences keeps you young. Maintaining a full life & healthy relationships will give your kids peace of mind so they don’t feel responsible for your emotional well-being. Consider the long term As you age, will your home become a burden? Will it become harder to maintain & navigate? Do you live far away from your loved ones, making caring for you more difficult & expensive? Long term, it may make sense to move / downsize to make those transitions smoother. It’s uncomfortable to think about aging & what the end of your life will look like, but the time will definitely come. Making decisions NOW, while you have time to weigh options gives you a lot more freedom to make choices that will better serve you & your family. https://www.missoulabookkeeper.com/blogarchive/dont-use-pfc monthly 0.5 2024-08-28 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/7623c4cf-a66c-4ae3-9642-47cde5f483d6/Copy+of+Reasons+you+SHOULDNT+use+a+Personal+Finance+Counselor.jpg Blog Archive - Reasons you shouldn’t use a personal finance counselor. Reasons to NOT use a Personal Finance Counselor: You exclusively get your cardio from the heart racing anxiety that happens when your credit card bill arrives. You’re convinced the rapture is imminent and the crushing debt you’ve acquired will not matter. You’ve recently met an elderly billionaire and you’re pretty sure you’ll be a wealthy widow any day now. We are all actually living in an alternate timeline where money is an illusion Reasons you SHOULD use a Personal Finance Counselor: Your debt is becoming concerning and you need a plan to tackle it You don’t really know where your money is going You would like to save for a trip, an upcoming household expense, or grow your emergency savings You need a non-judgemental person to help you develop a plan and keep you accountable. If you are ready to get some real clarity and spend more time enjoying your money instead of worrying about it, email us. We will send you more information about our Personal Finance Counselor services and get you on the road to financial peace. https://www.missoulabookkeeper.com/blogarchive/very-romantic monthly 0.5 2024-08-28 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/77577fd3-c19a-4b00-a04d-868fdf0d4bc7/Copy+of+It%E2%80%99s+all+very+romantic+until+you+find+out+he+has+%2430K+in+credit+card+debt..jpg Blog Archive - It’s all very romantic until you find out he has $70K in credit card debt. You met someone you really like. Cool! You have been together a while and you are ready to take it to the next level. Sweet! You are going to be living together, so it’s time to blend your finances. Hold on there, sister. Partnership can be a wonderful, fulfilling and magical experience. It also comes with a lot of logistical and not very sexy conversations that you HAVE to have so you don’t completely destroy each other, and one of those is about money. Here are a few topics that you should approach to make sure you are both on the same page, monetarily speaking: Your income and debts: This is probably the hardest one. You may have internalized some guilt or shame about your earning ability or spending habits and it’s going to be hard to say it out loud. Attitude about money: Does a dollar burn a hole in your pocket? Do you treat yourself at every opportunity? Or maybe you can squeeze two pennies and make Lincoln fart. Opposite attitudes about saving and spending will be difficult to overcome, but knowing what you're up against gives you a fighting chance. Goals: Are you saving for something special, like a trip or a vehicle? Paying down debt? Maybe saving for retirement? It’s good for each of you to know what the other has planned for the financial future. Property / assets: If you are unmarried and paying towards the mortgage, you should know exactly what your rights are or are not with regard to that property. For the most part, it’s just paying “rent” to your partner and you have ZERO claim if you break up. Do your research so you know what to expect. While all of these areas apply to any couple considering blending their households and finances, special rules apply once you’ve made it legal. Make sure you are very familiar with the laws in your state Money is a very touchy and emotional topic. Check in often to make sure you are on the same page and remember: honesty is the best policy and absolute transparency is the only way to go. Would you like help navigating your personal finances either alone OR with a partner? Go to linktr.ee/missoulabookkeeper for more information. https://www.missoulabookkeeper.com/blogarchive/debt-paydown monthly 0.5 2024-08-28 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/0b77c87a-d098-4b81-9679-39fd44657e57/Copy+of+Debt+Paydown+Strategies+from+a+Certified+Personal+Finance+Counselor.jpg Blog Archive - Debt paydown strategies from a CPFC® - Make it stand ou Fast facts about debt: Americans owe $986 billion on credit cards, $12 trillion on mortgages, almost $2 trillion on vehicles and $1.6 trillion on student loans The average american has over 100K in debt, with credit cards accounting for most of that Currently, the average APR on credit cards is over 22% So, when it comes to debt, how do you decide what to pay first, and in what order? Plenty of experts will tell you the exact right way to strategically pay off your debt, but as a Certified Personal Finance Counselor®, this is what I have to say on the subject: The right strategy is the one that makes the most sense for YOUR life and the way YOUR brain works. Paying off debt is a long process, so if you can stick with it, then that is the right choice. Here are some things to consider, depending on how your brain is wired: If you are all about the math, start with the highest interest rate first. You will pay less in interest overall, but it may take you longer. If you need to see progress quickly to keep from being discouraged, start with the smallest debt first. The overall number will shift slowly, but being able to cross debts off the list may help you gain momentum and feel more motivated to stick with it. There’s no crime in switching back and forth between approaches if you want to see what feels best to you! Exception: tax debt. Take care of that shit FIRST. I don’t need to tell you how absolutely miserable the government can make your life if you owe them money. Secured debt (like your car payment or mortgage) should take priority over unsecured debt if you are having trouble covering the payments and you are at risk of default. Losing your home or car creates a whole new set of problems and jeopardizes your whole life structure. Debt may feel like a big scarlet letter, but you don’t have to be ashamed and overwhelmed. You DON’T have to go it alone! If you need guidance dealing with your business or personal debt, click the link in our bio and reach out. We are here to be your partner in achieving your financial goals! https://www.missoulabookkeeper.com/blogarchive/personal-connections monthly 0.5 2024-07-25 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/221d924a-f84d-4503-b44c-8455a71c118f/IMG_5357.jpg Blog Archive - Finance and Personal Connections Yesterday, we received a voicemail from a young man who is the son of a client. His message let us know that his father had passed away unexpectedly the week before. He needed help navigating closing down his dad’s business and making sure he didn’t miss anything. This client is someone that we have loved working with and supporting him as he grew his business and built something for his family and himself. He was an incredibly kind man with a great sense of humor and an honesty and realness that made us proud to be a part of his team. Needless to say, we are going to miss him, both as a client and as a friend. Such an interesting touch point for this month’s topic. As business owners, our business financials are intrinsically linked with most, if not all, aspects of our personal life. And this definitely includes our relationships. And the ways that money affects our relationships is a mixed bag. It can be overwhelmingly positive: My business has allowed me to build a life as a single mother that offers flexibility, financial independence and a great community. It can be crushingly negative: Post-covid changes in the economy pushed small businesses (including some of our neighbors and clients) out of business, which definitely had impacts on their families. It can be weirdly confusing: If I am my business and my business is me, how much should I pay myself? Which debt should I pay first? What about retirement? It definitely can be complex and nuanced: My partner feels threatened by my success. How can I set myself up so my kids aren’t stuck taking care of me in my old age? How do I navigate the emotional pitfalls of being responsible for the financial success of all of my employees as well? As a small business owner, I have felt the full range of these impacts over the last few years, either in my own business or in advising clients. And every time a client comes to us with something new, we do what we can to research, learn and help them navigate it. Because, like this client who passed away, you are all much more than invoices and time tracking and monthly workflows. We care about your businesses and your lives, your families and your goals. All of it matters to us. And when you succeed, we are right there with you. And when shit goes sideways, we will support you however we can. This month we will touch on a myriad of ways that our business finances can intersect with our relationships and offer you advice, resources and considerations in all of these aspects. Here are a few of the things we will address: Splitting finances in a romantic partnership Managing care for aging parents while running your business The challenges and benefits of business partnerships Bringing your family into the business Closing down your business Guardianships, trusts and other tools for caring for family members Our personal relationship to our finances and how it affects our stress and self-worth We hope that these resources and discussions will help you to understand and navigate these confusing and complex issues with more confidence. We hope that we help you ask the right questions and point you in the right direction for solid answers and help. You don’t have to go at it alone. Rely on your team and get resources to set yourself up for success. Please reach out if there is any way that we can help you to feel more confident in navigating the intersection between your business and your personal life and finances! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/672f152d-6ad9-4a0c-8f12-33202e3c3995/1DB06DDB-5F81-424E-A7AA-2FC62777B53B.jpg Blog Archive - Finance and Personal Connections “May there be comfort in knowing that someone so special will never be forgotten” https://www.missoulabookkeeper.com/blogarchive/faqs monthly 0.5 2024-07-03 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/504f49c8-4c02-4a5f-a6cf-69feb9f04606/IMG_3178.JPG Blog Archive - FAQs: Common Stuff Clients Ask Us About - Have you ever run into someone and you can't remember their name and at some point you're embarrassed and it feels too late to ask? Many clients feel that exact way about their bookkeeping. Small business owners and non-profits want to better understand their finances and get the absolute most out of their bookkeeping services, but often they are confused about how to do that. You may have a lot of questions, but never ask because it feels too basic, too ridiculous, or you just never get around to taking the time to ask. Have you ever wondered things like: What steps do I need to take if I am ready to hire an employee? How do I understand my reporting? What is a balance sheet and why do I care? What tools are available that might make my life easier? What is a cash flow projection and what would I use it for? What can I do to make the bookkeeping process less stressful? What do I need to tell my bookkeeper and when? What is a 1099, who needs them, and how do I handle the process? How often should I check in? Chances are, at least one of these questions (and maybe a few others) has crossed your mind. If you feel in the dark on any of this stuff, the good news is that you are not alone. These are questions we get all the time, and we are going to take some time to bring you into the light. This month, we will be covering these questions and a whole lot more in an effort to help you get a better understanding about your finances, the bookkeeping process and now to make it serve you better. We hope you come away with more clarity, and an overall better sense of your financial picture. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/92e7ca8a-f18f-4aa6-9491-12a5c10d377f/IMG_6081.jpg Blog Archive - FAQs: Common Stuff Clients Ask Us About Don’t be afraid to ask questions. Don’t be afraid to ask for help when you need it. Asking for help isn’t a sign of weakness, it’s a sign of strength. It shows you have the courage to admit when you don’t know something and to learn something new. https://www.missoulabookkeeper.com/blogarchive/how-this-bookkeeper-handles-personal-finances monthly 0.5 2024-06-28 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/e2b4e0a6-c6d2-431b-9c76-b496a1a64f20/Copy+of+How+this+bookkeeper+handles+her+personal+finances..jpg Blog Archive - How this bookkeeper handles her personal finances. It took a long time to motivate me to really implement a “system” for my personal finances. I watched my spending in a general sense but I was not nearly as involved as I should have been. Now, I can tell you exactly where my money goes. We don't have the time or character limit to address all the events that set a fire under my ass, but this is the process that got me dialed in: I started with a spreadsheet with all income & expenses. This is crucial, so take the time to include as much data as possible. Calculated the “the world has gone to hell” minimum income needed to be to live my life. This covers just the absolutely necessary basics like housing, transportation, utilities, etc. You (hopefully) won’t actually need to function at this level, but it’s important to know. I sorted my expenses into three categories: “Predictable Needs” for things that will be exactly the same every month (mortgage, insurance, etc), “Flexible Needs”, for amounts that can vary to some degree (fuel, groceries), and “Wants”. By breaking these down, you can quickly dive into the “wants” or “Flexible Needs” when you need to make spending cuts. From these categories, I was able to see where my money was going & make better decisions about my spending, so I took it one step further. I set up four accounts: Basic Checking, Bill Checking, General Savings & Special Purpose Savings. Here is the flow: Paycheck comes into Basic checking Transfer appropriate amount to Bill account & savings Basic checking remainder is for discretionary spending As many bills as possible auto paid by credit card (that earns airline points) Pay off card in full automatically with bill checking It’s important to note that over time, I have built a little buffer in the “bill” account as a safeguard & it is “backed up” by my savings account through the bank. Eventually, I upgraded my spreadsheet to a low cost paid app & my savings is now in a HYSA, but this is where I started to gain confidence & momentum towards more stability. Getting your finances under control doesn't have to be complicated. Start simple & make adjustments until you have a system that works for your life & preferences. https://www.missoulabookkeeper.com/blogarchive/i-love-talking-about-money monthly 0.5 2024-06-28 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/55d3e03a-8b71-467b-8de8-1bad41a1635c/Copy+of+I+love+talking+about+monte....jpg Blog Archive - I love talking about money (unless it’s mine). I love talking to people about money. Reports & budgets & planning strategy are so fun. I think it’s really interesting & exciting to figure out just the right way to organize a system for saving & spending & just how differently that shakes for the individual needs of the client. I love talking about money…unless it’s MY money. If you have ever been in a position to disclose your finances to someone (getting a loan, in court, to a new partner,etc) you definitely know why I say that. You’re worried that you are being judged about how much you make, how much you spend & on what. The debt you’re carrying around feels like a scarlet letter & you are pretty much positive everyone in the history of time has done a better job managing their money than you have. Here are some pearls of wisdom that applies to your small business finances AS WELL AS your personal finances: It’s not nearly as bad as you think We have seen some messy stuff. Once, a client accidentally deleted a year’s worth of stuff at 3pm on tax day and yes, I cried. But even in the worst case scenario, it’s all figureoutable. As they say, unless you’re a sniper, on the bomb squad, it ain’t that serious. Things don't get better until you face them Ever notice that your car doesn’t stop making a weird noise if you turn up the radio? Unfortunately, your bank account is like that too. In order to get things running smoothly, you have to get under the hood and check it out. I promise that taking care of it will result in a sense of relief that is so much greater than the shame and dread you are carrying. We can figure it out–together I don’t have my shit together and you don’t have to either. My job is to help you make a plan and keep you on track. I live in a glass house, baby. I promise you will get zero judgment or scolding from me. Embracing vulnerability and dealing with your finances is a significant step towards stability and personal empowerment. Getting help from a professional can keep you accountable, give you encouragement and help you see past your blind spots. If you are ready to talk about money, we are ready to listen. Just go to the link in our bio to schedule a consultation! https://www.missoulabookkeeper.com/blogarchive/personal-finance-apps monthly 0.5 2024-06-28 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/06053e5f-61a4-490d-8a6a-e82626fb64be/productivity+myths.jpg Blog Archive - Money Apps We Love! If you've ever found yourself wondering what tools WE use to track our own personal finances, this is your lucky day! We've compiled a list of tools & apps that we love to help track your spending, pay down debt, teach your kids about money & just generally make your financial life easier: For Debt: Undebt.it–This is our #1 recommendation for tackling debt. Choose from 8 different payoff methods & change it any time. Debt Payoff Planner-This app gets high user ratings for ease of use & easy to understand visuals. For Saving; Tracker– Tracker automatically transfers to your savings account every day based on the balance limits you set. I don’t even notice it coming out of my account so it’s a pleasant surprise to see the savings pile up. Unsplurge– Set saving goals & track your progress. Watch other users progress for a sense of community & accountability. Acorns– Rounds up purchases & invests the difference automatically Tracking spending / budgets: Rocket Money – Set budgets, track spending, investments & assets. Rocket can also negotiate bills for extra savings. Their negotiation tool has saved me hundreds this year! QB Online Ledger– QB online now offers an option called “Ledger” that is a wonderful lower cost option for people who are familiar with QB for their business & want to use it for their personal finances. For sharing expenses: Splitwise- For groups sharing expenses, save the hassle of nickel and diming constantly. Users put in expenses & the app does the bottom line math for you. It can even factor in unequal splits or by percentages. For kids: Greenlight–Amy is such a fan of Greenlight that she used a swear word when I asked her about it. Add money, set spending limits, track usage. They can connect it to their phones and devices. Amy’s favorite feature? “Now that I have a driver in the house, I can put $20 in her account & send her to pick up groceries. I can also put money in her account for fuel & restrict it so it can only be used for gas.” We love tools that make finances easier (and by extension make life a lot less complicated). What apps & tools do you use to streamline your saving and spending? Comment below https://www.missoulabookkeeper.com/blogarchive/debt-how-much-is-too-much monthly 0.5 2024-06-28 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/11de4bd1-a6af-40dd-8c2d-7e929748583c/Copy+of+New+Blog+Post.jpg Blog Archive - Debt: How Much Is Too Much? Whether it’s mortgage, a car note, credit card debt, a student loan, or all of the above, pretty much every adult has some level of debt. Debt has a negative connotation, but it can be a useful tool when used responsibly. The question becomes: what is a reasonable amount of debt? At what point should I be concerned that my debt has gotten beyond my means to manage it? There are a few ways to answer this question, so let’s begin with the mathematical answer, and look at debt to income ratios. You can calculate your debt to income ratio by dividing your monthly debt amount by your monthly gross income. The “acceptable” ranges will vary a little depending on who you ask, but generally speaking: less than 36% – good 36-43% – time to make some changes Greater than 43% – you in danger, girl Another way experts look at debt levels is the 50/20/30 method that says 50% of your income should be for living expenses and essentials, 20% debt and savings, and 30% for discretionary expenses. If you are exceeding those percentages, or getting really close to that number, it is probably time to dig into your budget and make some changes. Now, math isn’t everyone’s favorite way to look at things, so here are some other signs that you may be getting in over your head: You can only make minimum payments on your credit cards Speaking of credit cards, they may be maxed out or close to it You aren’t able to contribute to any savings account You avoid looking at your bills and / or you avoid the total amount of your debt Your credit score is dropping If the numbers and signs are pointing to the fact that you need some help (or even if they say you’re fine and you still feel uneasy), we have plenty of resources to help. Go to linktr.ee/missoulabookkeeper for: Podcast Episode: Debt Negotiation with Marie Megge Get a copy of your credit report Strategies for reducing your spending Opt out of preapproved cards https://www.missoulabookkeeper.com/blogarchive/personal-finances-and-romantic-relationsips-financial-abuse monthly 0.5 2024-06-27 https://www.missoulabookkeeper.com/blogarchive/personal-finances-amp-romantic-relationships-part-one-establishing-healthy-dynamics monthly 0.5 2024-06-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/ab2f0f45-7ba4-4763-93cf-c27ced2c3240/Copy+of+Copy+of+Personal+Finances.jpg Blog Archive - Personal Finances & Romantic Relationships Part One: Establishing Healthy Dynamics Picture it: You’re in a hospital room where your beloved partner lies in a coma. As the monitors beep in the background, you lean in & whisper ”hey, what's the login for the credit card?” Relationships are tricky business. On one hand, you trust this person with your whole life–your thoughts & feelings, maybe children & even (GULP) your finances. It’s estimated that financial difficulties are a major factor in 40% of divorces. What can you do to make sure that money doesn’t become a ticking time bomb in your relationship? Here are some healthy habits that can set you up to have a more secure relationship when it comes to finance: Set Expectations: When blending finances, the foundation is setting expectations. If you have disproportionate income, this may mean contributing to shared expenses as a percentage of your income. If your earnings are relatively equal, 50/50 might make more sense to you. Regardless of what you decide, it should be clear what expenses are considered “shared”, how they will get paid & how everyone will be contributing to them. Even if the bulk of the financial tasks fall to one person, both should know how to access everything. Spending agreements: I would recommend having an account for shared expenses like rent & utilities, one for shared savings (emergencies, trips, etc) & separate accounts of your own for discretionary spending. If you choose to forego your own accounts & decide to mingle all your funds, you should have an agreed upon spending thresholds for purchases that haven’t already been agreed upon. Check in regularly: Put it on the calendar & make it a regular non-negotiable date with your finances. Review your budget, check in on your goals & adjust where needed. If you find you are having a hard time sticking to these check-ins, try adding a special element to keep it fun–try a new bottle of wine every time, or enjoy a special meal while you discuss. Whatever financial arrangements you make with your partner, it’s very important to make sure you are in agreement. If you feel like the dynamic is unbalanced, that’s a red flag. In part two, we will talk about unhealthy money dynamics & how to spot financial abuse. https://www.missoulabookkeeper.com/blogarchive/financial-self-care monthly 0.5 2024-06-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/e1ee9dbf-5b57-4f87-8651-b43223ce98c8/Your+paragraph+text.jpg Blog Archive - Financial Self Care: Habits that contribute to your economic well-being. Self care: The practice of taking an active role in protecting one’s own well-being and happiness, in particular during periods of stress. The practice of taking action to preserve or improve one’s own health. When it comes to self care, we usually think about practices and habits that contribute to our physical and emotional well-being, but have you considered financial self care? Financial self care empowers you to take control of your resources, avoid stress and anxiety, and give you financial freedom. Here are a few ways you can practice financial self care: Have a regular “money date” (alone or with anyone you co-mingle funds with) Light a candle, put on soft music and get cozy with your checkbook. Check in on the balances of your credit cards and see if you are sticking to your budget or if you need to make adjustments. Fiscal responsibility is sexy. Limit mindless purchases Be honest: are you impulse buying online or at the grocery store (SO many people don’t realize they are doing this)? A world without an occasion treat is unrealistic and honestly–not much fun. But it’s important to keep that impulse in check so it doesn’t interfere with your bigger goals. Cancel subscriptions Do you really need 15 streaming services? Can you live with the free version instead of the ad-free? Are you using some of those apps and services you signed up for? 5 or 10 bucks may not seem like much, but it adds up when you do it 10 times month after month. Take a hard look at your statements and get rid of or downgrade things that aren’t really adding to your life. Take the time to negotiate Did you know that your cell phone, internet and many other things can be negotiated? For example, I just shaved $10 a month off my internet and HALF of my home security system just by asking. Most places will only let you ask every 6 months to a year, but by investing a few minutes chatting with customer service, you can save significantly. It’s time to prioritize taking care of your (financial) well-being. Dedicating some time to get your financial picture focused is an act of self-love! How do you practice financial self care? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/getting-real-about-personal-finances monthly 0.5 2024-05-17 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/65928714-0da6-4f87-9bca-e8b1e979f4cd/Screenshot+2024-05-14+5.00.18+PM+-+Display+2.png Blog Archive - I Finally Got Real About My Personal Finances. We talk all of the time about how interwoven the personal and business finances can be for small business owners. The choices you make in one space can greatly affect the other space and both together can cause a lot of stress for small business owners. I think this is especially true in the past year or so. The economy has shifted drastically. Inflation has caused increases in expenses in all areas of our businesses and lives. There has also been a change in how individuals are spending money, which, if you are selling something seen as “non-essential”, you could be feeling the crunch. As my business was growing rapidly between 2020-2023 I essentially buried my head in the sand about my personal finances. I was dealing with a challenging (and expensive) personal crisis as well, which meant I was spending money I really didn’t have, while ignoring all of it. The farther along I went the more anxiety I had about dealing with it. Over the summer in 2023, I sat down and took a hard look at things. I put systems in place to track my personal finances the way I track my business. I thought about my long term goals and took some time to envision my life over the next 5-10 years as my kids get ready to leave home. It was hard, but it actually helped to relieve my stress. Once I knew what I was working with, it was easier to map a path out to a better place. It also helped me to take a look at the ways my life would be changing in the next several years, and how my financial picture would be shifting too. Here are some of the things that I have tackled over the past 8 months, which we will touch on over the next month of topics on social media. Find the right system for you: There is no one size fits all tracking system and you need to find the app or tool that is best for you. I use a quickbooks file for my big picture tracking (because of course I do…) Quickbooks has a new $10/mo option that is perfect for this if that tool works for you. There are tons of other apps for your phone or spreadsheet templates that others have had massive success with. Use your bank and credit cards to help you out: A big part of my issue was trying to track everything in one mess of a bank account. I would end up with bank fees because I didn’t track the timing of bills and my grocery shopping. I also would run into the issue where I had plenty of money in one account, but there was no auto transfer set up if another account got low. I went to my bank and opened several connected checking and savings accounts. My bank even let me name them what I wanted so it's really clear. I have one account for all of my regular bills, one for my other personal spending, a travel savings account and a debt payoff savings account. I also set up a set of transfer rules so if accounts get low, there will be auto transfers to cover balances and avoid fees or returned payments. It’s saved me hundreds of dollars this year and made things much less stressful. Saving for the future: In addition to my bank account, I have also set up and started regularly contributing to a retirement account for myself and IRAs for each of my kids. Paying off debt: I had accumulated a decent pile of debt as I grew the business and navigated those personal challenges. I have a solid plan in place to get that paid off by the middle of next year and it feels great to have a light at the end of the tunnel. Change your mindset around money: I had to spend some time digging into why I was so avoidant about my finances. I also needed to observe and address some of my unhealthy financial habits that were counter to my bigger goals and how I wanted my life to feel and look. Taking these steps have allowed me to be more mindful in my spending and saving and have lowered my stress considerably. These are the steps I have taken. Your path may be different, but hopefully this month, we will tackle some of the challenges and strategies that will help you on your own journey. Let us know if there are topics you want us to cover! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/69365935-726c-4e14-8f60-08f1e105a607/Untitled+design.jpg Blog Archive - I Finally Got Real About My Personal Finances. - We Want To Know… What are your favorite tools for tracking your personal finances? What apps have you tried and loved or hated? What topics around personal finance would you like us to cover in future posts? Tell us all about it here (Also, please enjoy this picture of the cat distribution system at work.) https://www.missoulabookkeeper.com/blogarchive/practice-self-care monthly 0.5 2024-05-17 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/9257595e-9b44-4429-89dc-78e897176539/Happy+and+Successful+Entrepreneurs.jpg Blog Archive - Happy & Successful Entrepreneurs Practice Self Care Building and maintaining a small empire is big work and it often requires a lot of long days and odd hours. The most productive entrepreneurs take time to nurture their personal lives and inner selves. That’s all well and good to SAY, but what does that look like in practice? Setting boundaries The biggest lesson I have learned in the last few years is the importance of boundaries. Setting clear expectations about working hours, policies, discounts, etc, will save you a lot of anxiety down the road. Taking breaks A break can take many forms. A quick morning meditation or a few opportunities during the day to unplug, move your body and reset are necessary every day. But breaks also include bigger things like an occasional long weekend or adventures with friends or family. Nurturing personal goals Have you ever had someone ask what you do in your free time and your response is “what’s free time”? Let’s work on that. Anything that is just for you counts as a hobby, and I’ll tell you a secret–you don’t even have to be good at it. It just has to be fun. Plant that garden, read those books, paint, take a dance class, volunteer. Anything that makes you happy makes you more well rounded and more productive in every aspect of your life. You may feel guilty for taking time away from your business. Rest and recreation may feel frivolous or selfish, but you cannot pour from an empty cup. Rest is a necessary element to your overall health–you don’t have to EARN rest. You deserve it. Accountability check: hobbies I have often neglected, but have committed to prioritize include gardening, all things crafty, and turning the music up loud and singing like I’m headlining Madison Square Garden (how about that new Taylor Swift album, eh!?!). Tell us your neglected hobby–what pastime have you been putting on the backburner that makes you a happier person? Drop it below and let’s encourage each other to engage in more activities that light us up. https://www.missoulabookkeeper.com/blogarchive/build-a-team-of-support monthly 0.5 2024-05-17 https://www.missoulabookkeeper.com/blogarchive/weekly-team-checkins monthly 0.5 2024-05-17 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/755aa2ec-3285-4f69-832d-e55102e8aa26/Copy+of+habits+of+happy+and+successful+entrepreneurs+%281%29.jpg Blog Archive - Habits of Happy & Successful Entrepreneurs: Weekly Team Check-Ins Checking in with your team is so important to the overall health and success of your business. Not only does it eliminate confusion and reduce the incidence of missed deadlines, it makes your team feel heard and valued. This is especially important when your team is partially or fully remote, or if you just don’t spend a ton of time in the same physical location. At Missoula Bookkeeper, we check in weekly individually and as a team. Each of us tracks our clients and tasks and makes note of any questions or concerns. We have a standing appointment to meet and address any issues and update each other on our progress. This habit reduces the number of random, one-off emails and calls during the week and is a great way to touch base and build team morale. Your weekly check-ins should accomplish the following: Address administrative issues like systems updates, upcoming events and scheduling concerns. Clarify questions or concerns with client work, and provide updates on progress Clearly define responsibilities and expectations for next steps Identify what’s working and what’s not for employer and employee as well as client feedback It’s a great idea to take notes. Avoid abbreviations and get specific so you aren’t confused when you refer back to them. Follow up with an email outlining what you discussed and what everyone’s action items are moving forward. It’s time to make check-ins a habit! The time you spend investing in a foundation of communication and respect will come back to your business tenfold. You will save money on constant employee turnover, your employees become great advocates for your business in the community and your clients will benefit from and appreciate the well-oiled machine you become. What strategies do you use to keep your team on the same page and build a strong dynamic? https://www.missoulabookkeeper.com/blogarchive/good-systems monthly 0.5 2024-05-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/3d201a29-826a-435b-9061-068d359a53e9/Copy+of+habits+of+happy+and+successful+entrepreneurs.jpg Blog Archive - Habits of Happy & Successful Entrepreneurs: Having Good Systems At the heart of any successful business, there are systems in place to make sure everything keeps running smoothly. Tracking When you are just starting out, a lot of this may just live in your head. Speaking from personal experience, it’s better to have systems in place for tracking clients & deadlines BEFORE your business grows. Adding clients, employees & services is much less chaotic if you have ALREADY implemented systems. For your business, you may consider programs like Google Drive, Dubsado, Click Up, Asana, Monday, etc. Password protection You need a password for just about everything these days. Multiple people may need to access this information & I can’t stress enough how important it is that they all stay safe & secure. A password management system is absolutely worth the cost when you consider the risks. There are many out there, but we use Keeper Password Management. SM systems Producing content for social media isn't everyone’s cup of tea, but it’s vital if you want your business to grow & flourish. You should find tools for producing & scheduling content that you find easy to work with & fits your budget. Again, there are about a million out there, but we have found that Canva Pro works best for us & gives us some tools for other areas of business. Batching time You will be most effective if you don't have to switch gears constantly. Try batching your tasks so you are cranking out the same type of task in one chunk. Your brain will thank you when it can find a groove. For example, Monday is social media, answering emails are are certain hours during the day, etc The individual needs of your business will dictate what systems you need & how intricate they need to be. Also, as your needs change, you will need to adjust to figure out what works best for you. Don’t be afraid to change just because you’re “used” to one thing & check-in with your team to make sure your systems are working for everyone. What systems do you use to keep everything running smoothly? How often do you check in to do an honest assessment of their efficiency? https://www.missoulabookkeeper.com/blogarchive/world-domination-routine monthly 0.5 2024-05-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/7765d479-71d4-4583-901c-3287df6e0b32/Copy+of+If+You+Want+to+Achieve+World+Domination%2C+You+have+to+have+a+routine..jpg Blog Archive - If you want to achieve world domination, you have to have a routine. I'm a creature of habit. I’ll eat the same lunch 5 days in a row. I re-wear the same 10 pieces of clothing. I’ve used the same brand of shampoo for a decade. Change is okay, but I'm much more productive when I stick to a plan. This quirk extends to my professional life. I have a definite routine when it comes to starting my day that eliminates surprises & leads to the most efficient use of my day: Personal Finances-This may seem like a weird way to start, but my first stop is my own finances. I check my balances, make sure nothing weird has happened, & schedule any bills or transfers. It makes me feel more prepared & in control of my life, it puts me in a productive mindset. Lists- I get two pieces of paper (one for personal, one for work). On the personal one, I list any tasks I need to complete that day (make dentist appointment, get groceries, etc). Later, if I think of something to add, I can jot it down without interrupting my momentum. Check Calendar, email & notes-On the second piece of paper, I make note of the meetings, projects & deadlines for the day so I’m not caught off guard. Prioritize-Highlight the top 3-5 priorities for the day so I can tackle the most important stuff first. Take breaks- Some tasks take more bandwidth than others & sometimes I just need to stand up and move or I’ll lose focus. Sometimes, I get in a groove and just go with it. Whatever works for you is fine, but don’t forget to give yourself some time to step away from business and reset. Quitting time–I generally step away from my desk at the same time every day, unless something weird happens. I straighten up my area so I have a clean slate in the morning & move on to real life. Something I’m working on: remembering to actually shut my computer down occasionally so updates & stuff don’t interrupt productivity, but I’m working on it. Depending on your industry & personality, this exact protocol might not work for you, but maybe you are inspired to build a routine for yourself so decision paralysis & disorganization don’t derail your attempts at success. What routines do you have built into your day to streamline your productivity? Let us know in the comments. https://www.missoulabookkeeper.com/blogarchive/happy-successful monthly 0.5 2024-04-24 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/16c4d009-05cb-4f0d-854a-4f695e5489a7/IMG_4315.JPG Blog Archive - Habits of Happy and Successful Entrepreneurs. We are what we repeatedly do. Excellence, therefore, is not an act, but a habit. - Aristotle It's not the big things that add up in the end; it's the hundred, thousands, or millions of little things that separate the ordinary from the extraordinary. ~ The Compound Effect, Darren Hardy I love me a good app. Do you have a tool that promises to take the work out of menial tasks and make more time to do the fun work? Sign me up! But as my business has grown and my professional journey has progressed, I have learned that no app can remedy all of the issues created by my bad habits. But, if I can trade those bad habits for better ones, it can make a huge difference in my day and my workflow. This month we are going to talk about habits you can develop and cultivate as a business owner that will help you be more productive and successful or at least, less harried and stressed. When you have big plans you are driving toward or your life and work are full, it's sometimes hard to appreciate the little things and the effect that they can have. But, once you have a good system or habit in place, you can’t imagine how you lived without it. I’m not talking about gargantuan, change everything about your life, nothing will ever be the same, habits. I’m talking about little things that help reduce stress, increase connection and satisfaction and keep things moving forward. These habits can be personal: 5 min morning meditation A daily walk with your favorite furry pet Your morning cup of coffee Bedtime snuggles and books with your kids Monthly date nights with your partner Annual check ups with your doctor Yearly family vacations Or they can be professional: Clearing your inbox down by the end of each week Straightening your desk each night Shutting down work by 6pm every week day Weekly check ins with your employees Monthly financial reviews for business health Quarterly team appreciation and training Annual staff reviews The combo of habits in our personal and professional life keep us growing and moving forward. These habits (or lack of them) can really make or break us. And they become especially important when life and work are chaotic and busy. They ground us, make sure things don't slip through the cracks and keep us from going crazy. This month we are going to talk about these habits and share tools and strategies to help you keep your business and your personal life flowing. We would love to hear what habits you practice that help you in your day or week. The two I have been focusing on this year are (1) daily 30-45 min walks in my neighborhood and (2) sending a follow up email after meetings to make sure everyone knows what the next steps are. I’ve gotten pretty good and #1, but I’m still crap at #2. But, I’m getting better every week! So join us this month in building habits to build success! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1ee23b1e-ec48-49d8-bd81-132888d06f96/9342E271-B3A7-4020-878B-375C2551DF9C.jpg Blog Archive - Habits of Happy and Successful Entrepreneurs. Entrepreneurs: What makes you happy? What habits do you practice to keep your mental health in check? Let us know HERE https://www.missoulabookkeeper.com/blogarchive/advice-for-life-and-small-business monthly 0.5 2024-04-24 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/f9f06fc9-6f84-46a2-adb5-0b359ad14e07/%28and+small+business%29.jpg Blog Archive - Advice for life (and small business). We talk to a lot of small business owners & it’s always fascinating to hear how they got started. More often than not, they sort of fell into it. They needed a side hustle after divorce & it ended up becoming their main source of income, or a hobby turned out to have MAJOR demand. Entrepreneurship happened TO them, they didn’t particularly seek it out. Entrepreneurship is what happens while you're busy making other plans, I guess. Starting a business is no small endeavor & if you ask 1000 entrepreneurs, you’ll get 1000 different pieces of advice. Here’s our advice & the bonus is that they apply not just to small business, but life in general: Pick a team you trust While you may be the big boss, going it all alone is a recipe for burnout & even disaster. A lawyer, a bookkeeper, a CPA, a business coach or all of the above will keep everything organized, legal & as drama free as possible. You can’t be an expert on everything, so lean on the expertise of others. Take it seriously Yes, that means setting up a separate bank account & getting an EIN and all that, but it also means using serious language. You will be tempted to minimize & diminish this new adventure to others. Maybe you’re worried it will fail & you don’t want any expectations putting pressure on you, or maybe you’re worried others will roll their eyes. Don't make yourself small. Take yourself seriously & others will too. To thine own self be true You can’t be all things to all people. Figure out what is really important to you (things like service to the community, equal rights, or environmental causes) & let that shine through everything you do. Let your marketing, policies, pricing etc. reflect the stuff that matters to you. Some people will not feel the same & that is okay. Your ideal customer will be your most loyal advocate. They say entrepreneurship is like the monkey bars: you just have to keep moving forward. Don’t let fear of the next rung leave you hanging–let go of the old & reach for the new. Entrepreneurs: what advice would you give to someone just starting out? Drop your wisdom in the comments! https://www.missoulabookkeeper.com/blogarchive/you-need-insurance monthly 0.5 2024-04-24 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/201c990b-74ca-4432-a387-b537c442f62c/Uh+oh....jpg Blog Archive - You Better Get Some Insurance. Insurance isn’t the sexiest topic, but it’s a necessary consideration for small business. What kind of insurance you need will vary on your industry and individual circumstances, but here are some of the most common: General liability: Protects your business from claims of bodily injury or property damage. Professional liability: Also known as errors and omissions insurance, it helps cover claims related to mistakes in your professional services. Business income coverage: Helps replace income if your business is interrupted by damage from things like fire, storms or theft. Data Breach: If your company data is breached, this insurance can cover costs for credit monitoring services, notifying customers and clients, and public relations costs. Commercial umbrella: This bridges the gap if costs exceed your policy limits. Employment practices liability: Protection from employment related claims such as discrimination, sexual harassment and wrongful termination. Commercial property: Coverage for (owned or rented) building and the equipment inside. For example, it would provide replacement cost for computers and printers if they were stolen. An insurance professional can ask you just the right questions to determine what kind of coverage is right for you without going overboard. It’s important to protect your income and assets so that all your hard work as an entrepreneur isn’t in jeopardy if the unthinkable happens. Aspiring entrepreneurs: is insurance something you thought about when factoring the costs of starting a business, or are you facepalming right now? Current entrepreneurs: were you surprised about the kinds / amounts of insurance you needed as a startup? Let us know your experiences in the comments! https://www.missoulabookkeeper.com/blogarchive/dedicated-bank-account monthly 0.5 2024-04-24 https://www.missoulabookkeeper.com/blogarchive/name-a-business monthly 0.5 2024-04-24 https://www.missoulabookkeeper.com/blogarchive/small-business-101 monthly 0.5 2024-03-22 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/bb2d6963-55d0-486c-bf81-322efdde305f/IMG_3951.JPG Blog Archive - Getting Started: Small Business 101 Six years ago this month, I filed for my EIN and registered with the Sec of State to make my business official. I was totally winging it. I figured I could do anything for a few years, and I would hold onto my regular 9-5 as long as I needed to and see what happened. It was anxiety-inducing and confusing at points. I made mistakes and did some things really well. I think any business owner will tell you that they would definitely do a few things differently. I also think a lot of them couldn’t imagine working for someone else again. Over the past 6 years, we have met with and taken on businesses at all phases of growth and development. I have facilitated workshops as well and talked with a lot of people in the “just checking it out” phase of becoming a business owner. While becoming a business owner isn’t for everyone, we want to make the process easier and less confusing, so this month, we are walking you through the process and some of the challenges. Here are a few things we will cover: Prep work: Is there a market for your service or product? What will it cost to get going? How will you fund your life and the business until it is profitable? Do you need a business plan? What does that look like? Most of the time, there is more than just picking a name and opening up shop. And starting out is stressful and scary, more so if you are unprepared, so the more work you do on the front end, the better it will be Logistics: what business structure do I need? How do I register with the government? Do I need a separate bank account? It can be confusing and overwhelming to navigate the systems and options. We will talk through your options and offer advice on getting it set up correctly. The mental and emotional load: Outside of your to do list, there is a lot to consider on a more personal level. How does this work for your partner or family? Are there other stresses or life changes to account for? How will you maintain or come back to a better work life balance? If you are just considering becoming your own boss or in the early stages of business development, hopefully this month’s topics will help you. If you are an established business owner and have something to share about your own experience, please chime in! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/67af87d7-e5a1-4437-85d3-28370d74d66d/IMG_1938.jpg Blog Archive - Getting Started: Small Business 101 “Life opens up opportunities to you, and either you take them, or stay afraid of taking them.” https://www.missoulabookkeeper.com/blogarchive/loud-budgeting monthly 0.5 2024-03-20 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/01eacafc-66a8-4f14-9ac9-105e2978a8ce/Trend.jpg Blog Archive - Loud Budgeting: Financial transparency is trending. You may have heard the term “loud budgeting” recently & wondered what this trend is all about. With skyrocketing costs of well…EVERYTHING, people are closely examining their consumption habits & making different choices. In essence, loud budgeting means setting a goal to spend more intentionally & being transparent about that process to those in your life. When you set any goal, letting others know your intentions keeps you accountable. It’s much easier to stay on track if you know someone will call you out. Loud budgeting requires you to get REALLY comfortable with talking about money & equally comfortable saying no. While these conversations can be uncomfortable & awkward, being open about your finances can help remove the shame and stigmas around debt & budgeting. You may even inspire your friends & family to do the same & get serious about their own spending. So, how are people practicing “loud budgeting” in their everyday lives? What habits are they developing to be more mindful about their spending? We did a little research (& compared notes on our own habits) and came up with a few examples: Trading nights out on the town for lower (or no) cost activities. Working out at home rather than a gym membership. Thifting / buying used rather than new. Facebook marketplace is an amazing resource. Only buying refills of products you already actually use. Work from the library & not coffee shops where you have to buy something. Cutting back to the streaming services to those you use most. Shopping in your own closet or borrowing rather than a new outfit for every occasion For online shopping–let it sit in the cart for at least 24 hours. Chances are, you don’t actually want it. Keep in mind that you can budget for literally anything you want, so if one of these examples is something really important to you, it’s fair game to budget it in. The idea is to take a critical look at where your money is going and find the leaks. Do you practice “loud budgeting”? How have your family and friends reacted to your financial transparency? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/no-shame-in-debt monthly 0.5 2024-03-20 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/88b49cce-3a20-44fe-aa5b-39b7d520ac57/Copy+of+There+Is+No+Shame+In+Debt.jpg Blog Archive - There is NO shame in debt. A pile of bills with looming due dates & minimum payments you can barely cover is piling up. You don’t know how the balances got so out of control & you spend a lot of time avoiding the big, bad total. Why does it seem like everyone else has their shit together while you can’t even handle basic financial management? If anyone finds out what a disaster you are, you’ll definitely never recover. You feel ashamed. Embarrassed. Humiliated. Mortified. Sound familiar? Take a deep breath & let’s talk about why that line of thinking is total bullshit. Let’s start with the idea that ANY debt is a failure. Debt is a sometimes necessary & often useful TOOL. Don’t let the boomer mentality trick you into thinking that you are somehow deficient for using it if you need to. There is no shame in debt. Read that again: THERE IS NO SHAME IN DEBT. What IS shameful is repeating habits & patterns that don’t serve–or actively work against–your goals. So if you find yourself in a situation where you are in over your head & the debt you have accumulated has you overwhelmed & feeling awful about yourself, here are the steps to take control & shake off that anxiety: Face it Add up the number. Have a cry if you need to, but no beating yourself up. Get a plan Develop a budget. No shame in professional help if you need it (financial coach, bankruptcy attorney, debt negotiator, etc). Check in on your progress Check in on that plan at regular intervals. This is NOT an opportunity to say “look how much I’m failing at this”. This is an opportunity to adjust. Give yourself some grace Only pimples happen overnight. Effort, even if progress is slow is STILL progress. Celebrate your successes Write it down in a journal, have a glass of wine and smile smugly at your pets, wink at yourself in the mirror. Whatever little celebration you like to congratulate yourself when you are making positive changes. Big debt can happen to anyone. Rather than dwelling on the past, focus on the road ahead and what you can do to make things better going forward. Cheers to you for making positive steps towards better financial health WITHOUT the negative self talk! https://www.missoulabookkeeper.com/blogarchive/lending-vocabulary monthly 0.5 2024-03-20 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d1750f53-0450-4342-ace0-1f7ca898803a/Lending+Vocabulary.jpg Blog Archive - Lending Vocabulary: Breaking down terms so you feel a little less dumb when it comes to understanding your loan. Lending is a complicated process where a lot of terms get thrown around, making the whole thing very confusing. Let’s break down a few definitions that might help you better understand the lending process: Secured / Unsecured–Secured means that collateral is promised against the debt, like a home or vehicle loan. Unsecured has no collateral–think credit cards or student loans. Secured usually has a lower interest rate because there’s less risk of default. Installment Loans–An installment loan means a specific amount of money is borrowed with very defined terms. Each payment reduces the balance of the loan & then it is closed out. Home, student and auto loans are installment loans. Revolving Lines of Credit–For a specific amount of money for use at any time. As the balance is paid down, the funds become available to use again. Examples are credit cards, equity lines of credit & overdraft protection on checking accounts. Fixed / Adjustable Interest Rates– Pretty self explanatory, but you should know that an adjustable rate loan usually has a lower interest rate to start, because the lender knows they can reset interest down the road if the lending environment changes, whereas the fixed rate is locked for the life of the loan. APR or Annual Percentage Rate–APR is the total yearly cost of taking out a loan. It includes finance charges, interest & fees. Co-Borrower–Someone who is jointly responsible for paying back a loan. The borrower & co-borrower share ownership of the asset. Co-signer–If you need help qualifying for a loan, a co-signer agrees to be responsible if the primary borrower fails to pay. They do not own any part of the asset. Deferment–Under some circumstances, your lender may allow you a loan deferment. During this time, you will not have to make payments, but you will still accrue interest. Prepayment penalty–Some lenders will charge you a fee for paying early. Be sure to check with your lender if you are thinking about paying some or all of your loan early. What would you like to understand better when it comes to debt? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/debt-out-of-control monthly 0.5 2024-03-20 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/c2bd37a6-7103-4a83-bfdf-4ea14eae0da9/Copy+of+Signs+Your+Debt+Is+Out+Of+Control.jpg Blog Archive - Signs your debt is getting out of control. You may already suspect you are in over your head financially. That little voice is telling you that maybe things are getting out of hand, but you shut it up by buying it a little treat. There are a few signs & signals that your debt is getting to the point where it is unmanageable & may be causing significant damage to not only your financial well-being, but your relationships as well. If any of these statements apply to you, it’s time to get some help: I can only afford minimum payments I have stopped contributing to savings I often pay bills late My credit cards are nearly maxed out I am avoiding knowing my total debt amount I hide purchases from my partner / friends / family For those of you that need a marker that is a little more concrete, your debt to income ratio should be 36% or less. To keep the math simple, if you made $10,000 a month pre tax, the max you should be paying towards debt is $3,600. Once you have established that you need some help, where do you turn? Depending on your situation, there are several options that can help you pay down, consolidate, or even eliminate your debt. Debt Settlement- A for profit agency or law firm negotiates on your behalf for a reduced payment in lieu of the full amount owed. There are lots of nuances here, so please make sure you are working with a reputable organization & fully understand the legal and tax implications of this process. Go to linktr.ee/missoulabookkeeper for our podcast with Marie Megge, a professional debt negotiator. Debt Management- This is a third-party agency that negotiates on your behalf to set up a repayment plan. You make a payment directly to the agency & they pay the creditor. You should only work with a licensed agency. Personal Finance Counselor-A CPFC assists in the development of a budget, evaluating your debt, setting financial goals & developing a plan of action for your overall financial health. (Stay tuned for more on this in the next couple months!) This may all be a hard pill to swallow, so if you’ve made it this far, I’m really proud of you. You may be feeling overwhelmed and a little embarrassed about the amount of debt you currently have, but admitting there is a problem and facing it is the first step to freedom! https://www.missoulabookkeeper.com/blogarchive/tips-for-raising-credit-score monthly 0.5 2024-03-20 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/08dcad6b-81bd-494b-b8a9-3a18a9f44e10/Copy+of+%28including+one+that+is+fast%2C+free%2C+and+raised+my+score+13+points+immeediately%21%29.jpg Blog Archive - Tips to raise your credit score. We are on a mission to tackle personal finance issues, and this month we are specifically looking at debt. A couple days ago we did a deep dive into credit scores: what they are, how they are calculated, and what they are used for. Now that we are all on the same page there, maybe you have had a chance to check yours and you’d like to know how to bring that number up. Here are a few tips, and I’m especially excited about the last one, because I just tried it myself! Use less than 30% of available credit limits. Even better, keep the percentage below 10% Make sure balance is low when it gets reported. Do this by paying throughout the month, and by the end of the billing cycle. Sometimes you can anticipate the reporting dates by checking your credit card app. Get your limit raised, but only if you won’t be tempted to spend more. (Caveat: if you are in the process of getting a property loan, check with your lender before doing this one.) Know someone with a great score? Ask to be an authorized user on their card. You don’t even have to use it or even have access to the account. They just add your name. Pay it on time, every time. Even if it’s just the minimum. Dispute report errors. Get a copy of your report at linktr.ee/missoulabookkeeper. Here’s the exciting one! Try Experian Boost. It’s totally free! You connect the account you pay your bills out of and it gives you points for bills you pay regularly (like utilities and subscriptions). I tried it and my score went up 13 points in 5 minutes! You can also upgrade and they will negotiate bills on your behalf (like cell and internet). There’s even a free trial period for the upgrade, so get in there, take advantage and then you can cancel without paying a dime! How often do you check your credit score? Have you ever made a specific goal to raise your score? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/all-about-debt monthly 0.5 2024-02-21 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d23cbe15-0de5-47fd-b0c5-22e1358bcfca/IMG_2718.jpg Blog Archive - All About Debt. Last year, I was able to get my head above water for the first time since COVID hit. In 2020, I decided to grow my business as the demand for bookkeeping services was high and, let’s face it, we all had some time on our hands. Then things went off the rails in my personal life as I navigated through waves of therapists, lawyers, and other professionals in an effort to support my kids and their mental and physical health. Business grew like crazy, but I was still trying to figure out how to pass off the skills and information that lived only in my own brain as the sole employee for the first several years. It was a lot, to say the least. And everything felt urgent and necessary, so I just kept moving forward and the bills came and the payroll had to be ran and so I entered into a cycle of robbing Peter to pay Paul to just stay afloat. I did not make all the right decisions. In fact, I think some of those choices were dumb. But I was doing the best, with what I had and trying to keep everything from collapsing around me. Finally, in the beginning of 2023, I pulled everything together to really understand where I was at. I avoided it because if it's not all laid out in front of me, maybe it's not as bad as I thought. But it WAS bad. Worse than I had realized. I had tens of thousands of dollars in high interest debt. On top of that, I had grown my business substantially, but I hadn’t updated my prices since 2019 and had made several mistakes in billing that had cost me. I was drowning, but I could see a path forward. And I knew I wasn’t alone. From conversations with my peers and friends or meeting with clients and other small business owners, I knew that I was surrounded by people who were all in a similar spot. In 2023, the average American household had over $100K in debt, and delinquency on car and credit card debt was at levels not seen since 2008. And we are all feeling the crunch of increased prices for everything from housing to food to everything in between. I took steps throughout 2023 to get things back under control and I also did a ton of research. I cut up cards, updated my rates, streamlined my expenses and monitored my finances and billing every month. Through all of this, I learned a lot and we are going to share some of that knowledge with you this month. We will discuss debt in many forms: how to use it well, how to manage it, how to avoid it and how to get out of it. This will cross the lines between personal and business because we all know that, as small business owners, it is rarely black and white. I hope that you will take what you find useful, share your own challenges and successes and together we will all get to a better place in 2024. It is humbling to share my own struggles, but I also know that there is so much power in knowing we aren’t alone. I am excited to talk about this over the next month! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/862d713a-1c3e-4583-a3e4-6753dbffdf03/IMG_1315_Original.jpeg Blog Archive - All About Debt. - Clients: Wondering what you can do to be ready to file taxes ASAP? Check the portal for any outstanding transaction questions or requests for other information. If you have any business transactions you paid out of your personal accounts that we may not be aware of, now is the time to let us know! Have questions? Email team@missoulabookkeeper.com. Want to schedule a meeting? Go HERE and find a time that works for you! https://www.missoulabookkeeper.com/blogarchive/all-about-credit-scores monthly 0.5 2024-03-20 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/7b1f89f0-a497-4747-875f-19dc20d735bc/Copy+of+Credit+Scores.jpg Blog Archive - All About Credit Scores. As we spend this month exploring all the aspects of debt, it makes sense to include a discussion about credit scores. Everyone knows a credit score is important, but few realize all the factors that go into it. And did you know that your credit score factors when you get an insurance quote, apply for a job, rent a space or start utility services? Let’s dive right in: First, let’s define what a credit score is. We could get really fancy pants here & go into a lot of details, but basically a credit score is a tool used to predict how you will handle debt. There are two models, but FICO is used about 90% of the time, so we will focus on that particular model. Your score will fall between 300-850 & assigned a rating “poor” to “excellent”. Let’s not get caught up on labels, shall we? Keep in mind that this is from the perspective of a potential creditor & not a commentary on you as a whole person. Your score may vary depending on which of the three major agencies you are checking. Your score won’t vary a TON, but slight differences are to be expected. They are very secret squirrel about the exact formula they use, but the major factors are: Payment history - Are your payments on time or late? Do you have any liens or bankruptcies? Remember that paying on time, even if it’s just the minimum is weighted most heavily in the calculation How much you owe - This looks at how deeply in debt you are.Try not to exceed 30% utilization of your limit. Length of credit history - The longer you have responsibly used credit, the better. This shows a longer pattern of repayment as agreed. Type of credit - We will talk about types of credit in a later post, but this looks at the mix of credit you have used: cards, mortgages, installment loans, secured, unsecured. New credit inquiries - This is an indication that you have just (or are about to) take on new debt. There are soft inquiries and hard inquiries. Soft hits are you checking your own report, or “preapproval” offers, or checks from potential employers. These do not affect your score. Check the link at linktr.ee/missoulabookkeeper to request a copy of your credit report, and check out the next post for tips on how to raise your score! https://www.missoulabookkeeper.com/blogarchive/happy-little-habits monthly 0.5 2024-03-20 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/5659fbda-63b5-4c65-a0f3-735acaeeeb47/Copy+of+happy+little+habits.jpg Blog Archive - This is the year for happy little habits. Not long ago, I saw a woman on social media talking about her resolutions for the year. She said had an epiphany and I think it’s so genius that it needs to be shared with you: Resolutions don’t have to be serious. They don’t have to have some lofty ambitious goal. Your resolutions just have to add something positive to your life. So what resolution did she make? To pet more cats. That’s right. She set a goal of petting 100 cats in 2024. She has a little notebook where she sketches each one and writes their name and little notes about their encounter. How wholesome and lovely is that? In the spirit of the cat petting lady, here are some things I am also resolving to do in 2024 for no other reason than it adds a little spark of happiness to my life: Turning up the music and dancing my ass off in my living room. Sending more real, old fashioned, handwritten letters. Try painting with watercolors. Wear red lipstick just because. Embracing joy and whimsy makes you a happier, more well rounded person and well rounded people make better bosses, business owners, parents and friends. What brings joy to your life? What makes your little heart happy? Comment below with the happy little habits you want to incorporate into the year ahead! https://www.missoulabookkeeper.com/blogarchive/step-one monthly 0.5 2024-03-20 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/204d53ad-ca88-47f9-a262-9b87890bb033/If+yu+need+to+get+your+personal+funances+in+order%2C+this+is+step+one....jpg Blog Archive - If you need to get your personal finances under control, this is step one… It’s really easy to get so caught up in the finances of your business that your personal finances get sidelined. You ignore your budget (if you even have one), you aren’t tracking your spending & are probably forking over overdraft fees & paying for subscriptions you forgot about. We totally understand what it’s like, so no shame whatsoever, but it’s definitely time to get things reined in. After all, business & personal are so intertwined that if one goes off the rails, the other isn't far behind. Things don’t get out of hand overnight & you shouldn’t expect to fix it overnight. Let’s take some baby steps to get a basic grasp on what’s going on. It’s not hard, but it is a little scary, so let’s walk through the first big step. Get all your bills together & make a list, spreadsheet, stone tablet, whatever of every bill you pay every month. We are leaving out shopping, vacations, eating out, etc for now. Include stuff like club dues, subscriptions, groceries, fuel, kid’s lessons & things that may be due on a random schedule. You’re probably reasonably okay at this point, but you might want to sit down for the next one: subtract that number from your income. How does that number compare to what you actually have left at the end of the month? Yikes, right? Read this next part knowing that I have to give MYSELF this speech from time to time, so I get it… Every last one of us mindlessly spends money on shit we do not need. A late night click on Amazon, that damn area where you wait to checkout at TJMaxx, a new flavor of chips at the grocery store. It all adds up, and quickly. You HAVE TO get more conscious of those little expenditures. It’s not “just five bucks”--it’s your emergency fund, your summer vacation, your rainy day money–going out the door. A splurge now is necessary for a balanced life. But your long term financial well being relies on your ability to keep those expenditures under control. Take a month or two practicing being more conscious about impulse buying. Check in and see the difference you can make in your bank account. We believe in your ability to make a positive change in your financial health. https://www.missoulabookkeeper.com/blogarchive/business-cat monthly 0.5 2024-03-20 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/ad1b77cc-3c42-417c-9c55-395a271f5eaf/Business+Cat+explains+paycheck+witholding.jpg Blog Archive - Paycheck Witholding. Wow, have we had a lot of people lately wondering about the withholding in their paycheck. If you get a paycheck from your employer and you are trying to figure out how the amount is calculated or if you can adjust that number somehow (or if you even WANT to adjust it), here is some info you will probably be interested in. First of all, withholding is tax that an employer “withholds” from your paycheck and then sends directly to the IRS on your behalf. The amount withheld is based on how much you earn and what you put on the W-4 form that you submitted when you started your job. If you decide to change this information, you can submit a new W-4 at any time. If too much is withheld, you get a refund. If not enough is withheld, then you owe the IRS. The IRS has an estimating tool on their website to help you figure out if you will get a refund, tax due, and how take home pay is affected. You can find it at linktr.ee/missoulabookkeeper. Have your paystub and most recent tax return ready. So, SHOULD you adjust your withholding? Maybe! If you owe a large amount to the IRS, an adjustment can help you owe less next year. Keep in mind that means a slightly smaller paycheck over the course of the year. If you got a huge refund–that’s not free money– you gave the government a free loan! Wouldn’t it be better to have that extra money throughout the year? When it comes to withholding and taxes, getting as close to zero is the name of the game. Keeping as much of your paycheck as possible throughout the year while keeping your end of year tax bill minimal is making the most of your hard earned dollars. When was the last time you adjusted your withholdings? Do you strategize to “break even” or do you just cross your fingers and hope for the best? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/intentional-era monthly 0.5 2024-03-20 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1de212fd-1b08-4c07-81ae-af4d871933fb/We+are+in+our.jpg Blog Archive - We Are In Our Intentional Era. We have taken the opportunity of the new year to explore the idea of intentions and resolutions. Usually when you think about resolutions, you think about personal goals, but there’s no reason you can’t apply the concept to your business as well. Here are a few ideas to get you into mindset to set some professional intentions this year: Invest in an upgrade: Add a little to your advertising budget or upgrade an app / software you already use. Maybe even replace a piece of equipment that is reaching it’s limit. Clean up: Develop and follow a process to streamline receipt collection. Organize and purge your digital files. Need help knowing what to keep and what to toss? Check out this post: missoulabookkeeper.com/blog/howlongtokeepdocuments Commit to: Outsourcing a task you put off like bookkeeping, payroll or social media. Start making a conscious effort to keep your personal and business transactions completely separate. You will save SO MUCH time month to month and it will make tax time so much more pleasant. Maybe you feel like you can tackle all of these things, maybe only one, or maybe you have a whole list of your own in mind. Regardless, there’s no time like the present to set some goals and make a pledge to do something that will bring a little peace to your professional life. What are your professional goals and intentions for the year? Let us know in the comments. https://www.missoulabookkeeper.com/blogarchive/dear-client monthly 0.5 2024-01-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/43c9c709-5583-46f5-a23a-f3f334a3b3ea/Copy+of+Dear+cClient%2C.jpg Blog Archive - Dear Client… “Good news! You’re ready to file your taxes!” That’s exactly the message our clients have started getting this week. How would it feel to know that your books were consistently watched over and organized, your 1099’s were taken care of and you were ready to file your taxes ASAP? Pretty great right? Once tax season is over, we will be opening up for NEW clients. If you want help getting organized, understanding your finances and getting the tools you need to make better financial decisions for your business, get on the list now! Go here and sign up today! https://www.missoulabookkeeper.com/blogarchive/less-clutter monthly 0.5 2024-01-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/e224d9d3-ebff-4e9f-9008-a21d8b157ea5/Copy+of+Intentions+for+2024.jpg Blog Archive - Intention for 2024: Less $h!t Cluttering Your Life. In the last few months, I've talked a lot about my journey to live a less cluttered life. As it turns out, it's inspired others to do the same & many have asked for advice on how / where to start. So if one of your resolutions for this year is to get rid of all the extra “stuff” packed into your cupboards & closets, this post is for you. Make a list of the major declutter zones. This will help you prioritize based on how much time and mental energy you will need to devote to each and help you get things into manageable chunks. Plan your attack. There is no one right answer here. You could start in one corner of the house first and then go to the adjacent space & then the next. Maybe it makes more sense to you to start somewhere that feels impactful for your daily life (for me, it was my closet). It doesn’t really matter HOW you attack it, just matters that you do. Be realistic about what you will actually take the time to sell / repair. Set a limit to how long you have to accomplish that and when that time expires, donate it. If you get hung up on getting rid of something because you feel like that means you wasted the money you spent on it, shift your thinking. Think of it as blessing someone with something they really need, use and appreciate. I am so guilty of feeling like if I can’t do the whole project all in one sitting, then I can’t do it at all. I actively remind myself that 10 minutes of work is progress, and progress is better than perfection. Get into the right mindset and get to work! Think of it as an investment in the peace, efficiency and utility of your home. Food for thought: in the last 6 months, I have filled one mini dumpster full of crap and donated countless items (including 30 plus bags of clothing & that box of random cords we are all scared to get rid of), and you know what? Not ONE time have I wished to have any of it back. I doubt you will either. What is the biggest area of clutter & chaos in your home? How often do you consciously make an effort to get rid of things that are no longer serving you? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/intentions-2024 monthly 0.5 2024-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/a9e24728-1dd7-4f97-9da6-f4a41ad89ee9/IMG_0317.jpg Blog Archive - Setting Intentions for 2024 The fresh start of a new year has always felt very cathartic, allowing me to let go of anything that doesn’t serve me and providing space for new opportunities and growth in the new year. My approach to the new year has softened in more recent years. I tend to avoid “pushing myself” or metrics that feel unattainable. I focus more on small, incremental changes, short term adjustments and changing the feel of my life, not just the output. I also let this simmer for most of January before putting anything solid down on paper. This allows me to make adjustments and get a better feel for what my challenges are going to be. Here are a few of the intentions that are sitting on my draft list for 2024: Read more and try some new genres - Prior to last year, most of my reading was “productive”, non-fiction, gardening, cooking, DIY and business. I set the goal at the beginning of 2023 to read one fiction book per month and ended the year having doubled that goal and then some. I found my love of reading again and that simple step of self-care translated to more mental and emotional capacity in other areas of my life. This year, I want to expand the types of books I read to stretch my brain. Track my personal finances consistently and change my set up for my personal/business finances to make that easier - I did some set up Dec to help me start the new year off fresh. I have two business checking accounts now and two personal checking accounts. Both spaces have one account for regular autopay bills that is automatically funded through transfers to cover those bills and a second account for variable spending. This allows me to free up the mental energy needed to keep track of my bank balance and upcoming bills. It all happens in the background and I am hopefully limiting bank fees from missed transfers or unexpected auto draws. I am also eliminating credit card use for the first 6 months of the year as I pay off debt and get out of the habit of unnecessary overspending. Move my body more - I’ve resigned myself to the fact that I need accountability in this area, so I started this winter with a twice a week weight lifting group at the gym. If I know they are expecting me, I will show up. I added a yoga challenge with an online group with the new year and plan to add regular walking/hiking dates once the weather warms up. This also creates some built in socializing that I don’t always get in my work at home lifestyle. Continue to practice better emotional regulation - A combination of non-existent self care and big, hard challenges in my personal life have helped me to recognize that a shift needed to happen. I was unable to cope with small inconveniences and bigger, hard tasks were avoided altogether because I just couldn’t deal. It also made me an impatient and uncompassionate parent and boss. Last fall, I did a big assessment of this and made some changes. Self care, in the form of reading, moving my body and being creative were big pieces of that shift. I also spent time reading and listening to podcasts to better understand the mental, emotional and even physical things going on that were making it hard. These things together have made a huge difference coming into 2024 and I hope to keep building on that. Have fun! - This seems crazy, but it is so easy to get pulled into all of the logistics and to dos and the reasons why something can’t or shouldn’t be. In 2024 I am prioritizing saying yes to fun things and enjoyment. This is dinner with friends, travel and hobbies. This also means investing more energy into the parts of my business that I love, like consulting with clients, problem solving and making things better for our clients. I would love to hear more about how you develop your new years intentions and goals and what you have planned for 2024. Please drop us a line or comment with your 2024 Intentions and let us know what Missoula Bookkeeper can do to support you! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/4a99db3e-3fba-4e95-96cd-3c0b38a97297/IMG_0497.jpg Blog Archive - Setting Intentions for 2024 In honor of the, ahem…interesting weather the country has been experiencing lately, here are some fast facts about winter: Snow is actually translucent and the light reflected is what makes it appear white. The shape of the ice crystals in snowflakes are determined by the temperature when they are formed. The largest snowflake ever recorded was 15 inches across. The coldest temp in the U.S. is -80, recorded in Alaska in 1971 The fear of snow is called “chionophobia”. Mount Baker Ski Area in WA recorded 1,140 inches (95 feet) during the 98-99 ski season. https://www.missoulabookkeeper.com/blogarchive/fresh-start monthly 0.5 2024-01-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/30e2fb02-d2cb-4c6c-9591-7f0c9f79e171/Copy+of+Wishing+you+all+the+magic+your+life+can+hold+in+2024.jpg Blog Archive - Little Tasks for a Fresh Start. The first of the year landing on a Monday is a serious clean slate if I’ve ever seen one. The new year isn’t playing games and neither should you. So let’s get cracking and start the year off right and do a couple little things to set the tone for the year: Snap a picture of your odometer if you track miles for your taxes. Check your Q1 calendar and make note of the big events coming up. Unsubscribe from emails cluttering your inbox. Reach out to your network and check in on the goals everyone has for the year. Do you have any rituals for the first of the year? What do you do to set the tone and intention for the coming months? Let us know below! Happy new year everyone! We can’t wait to see all you accomplish! https://www.missoulabookkeeper.com/blogarchive/work-life-balance monthly 0.5 2024-01-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/4746703f-7fd2-44ea-9c3f-3f65b5528c9f/The+most+important+relationship+you+ever+have+is+the+one+with+yourself.+%281%29.jpg Blog Archive - “The most important relationship is the one you have with yourself” (work / life balance) All the holiday “time off” can lend itself to a lot of burnout. We put pressure on ourselves to make the season magical & squeeze in as much as we can. Unfortunately, business doesn’t stop & there is still work to be done & clients to be served. Finding a happy medium is crucial year round. Here are a few things I have learned (and some I am continuing to work on) to make sure that I'm present & effective in both my professional and personal life: Quitting time Hustle culture & guilt can make us feel like we have to be everything to everyone all the time. Let’s make it a priority in 2024 to check in with our personal lives & not be “on duty” 24/7. Sleep Once the day is over, I (and lots of mothers I know) have a bad habit of staying up way too late because it’s the only time we really get “to ourselves”. Lack of sleep can lead to a long list of really bad things. Forgetfulness, depression, inability to fight off illness & just being miserable to be around. Powering down & getting a good night’s sleep is not only better for your body, but puts your brain in a better spot to make good decisions. Not everything is an emergency There’s no law that says you have to handle everything as soon as it pops up. It’s okay to answer emails at 10 pm (or a weekend, or a holiday) if that’s what works for you, but think about scheduling that email to deliver at a more reasonable time to help manage client’s expectations about your availability. An out of office message can also go a long way for drawing strong boundaries around things that don’t need to be addressed immediately. Do not disturb Using the “focus” function on my phone has been a game changer for me. I am less likely to be distracted when I need to be productive. Conversely, I am able to focus on myself & my family if I’m not tempted to answer work emails at all hours. A friend used to say “my phone is for MY convenience” and I have made it a goal to remind myself of that when I find my focus drifting. Do you have a favorite trick / tip / app for keeping yourself accountable when it comes to work / life balance? Drop it in the comments! https://www.missoulabookkeeper.com/blogarchive/roadblock-to-year-end monthly 0.5 2023-11-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/44b5b3a1-da24-4945-8ca0-19fe24d004da/Roadblocks+to+Year+End.jpg Blog Archive - Roadblocks to Year End (How to avoid having a million ask transactions). From time to time, there will be transactions your bookkeeper has questions about. The name of the vendor may not be an obvious clue and a google search may not lend any answers. Other times, the amounts are out of the norm. And don’t get me started on how a purchase from Amazon can be literally ANYTHING. Here are a few things you can do / avoid if you want to keep that “Ask Report” from taking over your life: Venmo is so convenient for the user, but it’s a nightmare for your bookkeeper. We generally cannot see WHO you sent money to, so we have to ask. Every. Single. Time. If you are absolutely committed to using it, keep in mind that you will have to do a little extra work to make sure they get categorized correctly. Personal transactions mixed in with your business transactions are a bad idea for many reasons, but definitely for purchases that could go either way, because we’re gonna have to ask. That’s more time lost for you AND your bookkeeper. Communicating about purchases that are out of the ordinary really help us out. A quick email that lets us know you made a large purchase, or got a new loan or made a contribution really helps streamline the process. Staying on top of the list is really the number one thing you can do to keep your bookkeeping up to date. I can’t overstate how fast it can get out of hand when you put it off. At the end of the year, there’s a rush to get those answered and categorized for tax season. Spoiler alert: clients that are diligent about answering ask transactions get priority when it’s time to close out the year because they don’t require a bunch of clean up. Questions are inevitable, but with some preventative measures, you can avoid being overwhelmed with a giant list as tax time is looming. Speaking of tax time looming…did we mention that we will be putting new clients on hold very soon so we can focus on year end? If you need bookkeeping help, NOW is the time to get on board! Go to missoulabookkeeper.com/book-a-consult to schedule a free consultation. https://www.missoulabookkeeper.com/blogarchive/ease-the-transition monthly 0.5 2023-11-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/ede5293c-c63d-46ba-b483-63524b71a17a/Little+Things+You+Can+Do+To+Ease+The+Transition+Into+The+New+Year..jpg Blog Archive - Little Things You Can Do To Ease The Transition Into The New Year. This time of year makes me think about closing out chapters and starting with a clean slate. It always feels so good to get everything straightened up and move into a new year with a renewed sense of purpose. With that in mind, here are a few things to put on your goals list for the next few months, and most of them only take a few minutes: Create a budget or if you already have one, make adjustments Organize documents (more here: missoulabookkeeper.com/blog/howlongtokeepdocuments) Set some sort, mid and long term goals Set up auto transfer for savings, no matter how small Check credit report (linktr.ee/missoulabookkeeper) Update your passwords Update beneficiaries on bank accounts and insurance policies Unsubscribe to emails you don’t need Make an appointment with a lawyer to do a will if you don’t have one Negotiate bills like phone and internet Review life insurance needs Donate or sell unneeded things you have laying around Cancel subscriptions you aren’t using Make a financial vision board Develop a plan for any large purchases you will be making in the next year This is a really busy time of the year and I’m sure there are a billion things on your to-do list, so if you can only get to one or two of these, that’s a win. Progress, not perfection. Any steps you take to get organized and prepared for the future are a gift to your future self. What habits and routines do you do to get prepared for year end? Let us know in the comments and drop a if this resonates. https://www.missoulabookkeeper.com/blogarchive/end-of-year monthly 0.5 2023-10-18 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/bd85bfab-b789-4786-870e-a93def591f49/IMG_4272.jpg Blog Archive - Happy HallowThanksMas. The End is Near…. Just kidding. But kind of. Year end can be a big time of transition for business owners and there is also some pre-tax work that needs to be done to ensure you can file on time and maximize your tax savings. If you plan now, January will be smooth as butter and tax season will seem less scary. This month and through the end of the year, we will hit on the high points of year end prep and give you tools and recommendations to cruise into the new year with ease. Here’s a few things on that list: Get your books up to date. Whether this means answering any questions your bookkeeper has or managing your own books, don’t wait until the last minute. Missoula Bookkeeper has a few spots left for new clients before we put things on hold for the holidays and through tax season. Check in with your CPA: Don’t wait until the new year. Set up an appointment or send them an email with your Year to Date Profit and Loss and Balance Sheet. Ask them for advice on things to do before year end to get your final taxable income in the prime spot. There are a few tools you can use to do this and hold onto more of your dollars. Explore moving your LLC to an S-Corp. Different entity types have different tax guidelines and rates. Depending on your net income, being an S-Corp could save you in taxes. However, keep in mind there are some logistics and up front costs to getting this taken care of. Set up retirement accounts. The deadline for a Simple IRA for 2023 has already passed (Oct 1st) but if this is something your financial advisor or CPA recommends, you can get that on your to do list for after the new year. Other types of retirement can be set up and funded up until the tax deadline so talk to your CPA or financial advisor about what you need to do to maximize the tax benefits. Set up an HSA. Many business owners are getting health insurance through the marketplace and may have a qualifying high deductible plan. This means you can set up an HSA and run all of your medical and many health expenses through the account for additional tax write off. If you haven’t already, plan and execute annual staff reviews. This is a great time to check in with our team, take the temperature on how they feel about working for you and give them constructive feedback on their performance and the goals you have for the new year. Think about year end bonuses and cost of living raises for your team. Start planning now to get a handle on how these will affect your bottom line. For bonuses, it may be better for you to do them before Dec 31st so that it reduces your taxable income this year. In other cases, waiting until just after the new year, may be more strategic. Another place to strategize is in your inventory. If you are a wholesale or retail business, getting your inventory down as low as possible, selling off discontinued items at a discount and holding off on any inventory purchases that you can until after the new year, will help minimize your taxable income. Take time to enjoy your friends and family and relax over the holidays. Don’t let the chaos and stress of owning a business be the theme of your life. Rather, be intentional about how you spend your time and prioritize. Look ahead to the new year and set some goals for yourself and your business. Create a vision of what you want your life and business to look like at the end of 2024. Write it down and put it where you can see it throughout the year. It's hard to believe that we are already here, but we are so grateful for all of our clients and followers that have worked with us this year. Please let us know what we can do to make your holiday season and new year smooth! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/a2e01cad-b454-458b-b508-52bd506c144b/1380C551-FA04-4EEF-900E-49648A4E88E4.jpg Blog Archive - Happy HallowThanksMas. “Year’s end is neither an end nor a beginning but a going on, with a wisdom that experience can instill in us.” https://www.missoulabookkeeper.com/blogarchive/bleeding-ulcer monthly 0.5 2023-11-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/6c508ce4-cba8-45ad-9374-e157111a3bd1/Are+You+Constantly+Freaking+Out+About+Finances.jpg Blog Archive - The Bleeding Ulcer: Are you constantly freaking out about finances? Three dollars and 42.5 cents. That’s what it costs to pack my daughter’s lunch. I know this because I figured it out right down to the ziploc baggie her sandwich goes into. Yeah, I’m that person, and this post hits very close to home. I’m a bit of a “bleeding ulcer” kind of gal when it comes to finances. I’m always strategizing my spending habits and thinking about cost vs. benefit. A healthy dose of this is smart, but wow…it can get out of hand really fast. There are some major consequences when this thinking goes off the rails, so if you are a financial overthinker like I am, here are some signs to watch out for: Constantly shifting plans. Like a game of chess you are only playing with yourself, you’re constantly moving pieces around, but not really getting anywhere. You may not really have a clear idea of what is working in your budget and what isn’t because you never leave anything long enough to give it a shot. Decision paralysis. You may become so wrapped up in making the right decisions that you can’t seem to make any decisions at all. All of the reading and planning and research is wasted and you end up just feeling worse because you did nothing. Lack of balance. Much of your time is spent reading about, analyzing and deconstructing financial information. Your sleep suffers, your social life suffers, your quality of life is diminished, because every aspect of your life gets boiled down to dollars and cents. Taking a proactive approach to your finances is wise, but don’t fall into the trap of overdoing it. Balance that level of grownupness with a healthy attitude that allows you to have fun with your money and not take yourself too seriously. And just in case you are wondering, ziplocs are .037 cents apiece. We have a new podcast episode dropping Friday, so don’t forget to check it out. Even better, go to linktr.ee/missoulabookkeeper to subscribe to our channel so you never miss an episode! https://www.missoulabookkeeper.com/blogarchive/the-end-of-the-relationship monthly 0.5 2023-11-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/63b6623b-08f6-4fd5-9a34-76881eb7bfdd/Will+money+arguments+be.jpg Blog Archive - Will Money Arguments Be The End Of Your Relationship? At least half of couples report fighting about finances & a large percent say it happens more than once a week. Constant arguments about anything can slowly erode a relationship & lead to irreparable damage. When your money styles are vastly different, it's even more important to lay groundwork to set yourselves up for financial health. Here are some guidelines for couples who are intermingling their finances: Talk early Don’t wait for the engagement to bring up money. Learn about each other's attitudes, debt, financial history, savings & future goals. There are plenty of strategies for working through differences, but if the gap is too big, it’s better to find out sooner rather than later. Please be honest–the only thing that can make $40K in credit card debt worse is lying about it. The dishonesty will be a deal breaker. Talk often Check in periodically to see how everyone is feeling. Make sure your plans & goals are still aligned & working for both of you. A regular conversation can keep resentments from building up. Clear goals & expectations The foundation of any financial plan are clear goals & expectations. Clearly defining things like how much you should be saving (and for what purposes), what your budget is for non-essentials & who is paying for what will save you a lot of confusion, arguments & bitterness down the road. Compromise Even if your financial values & goals are very similar, you will still have areas where you disagree. Understand that each of you will have to give up a little bit of what you want from time to time to keep the machine running. I would never advocate “keeping score” but definitely be aware of the balance to make sure it doesn’t become a lopsided arrangement. If you find that you are having difficulty navigating these conversations alone, there is no shame in getting some help. It’s wise & brave to enlist the help of a therapist, legal professional, or money coach to help you figure everything out. It’s an investment in your relationship. https://www.missoulabookkeeper.com/blogarchive/the-ostrich monthly 0.5 2023-11-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/78497d5e-ec98-4d56-ad91-826a6ed4e0a8/the+ostrich.jpg Blog Archive - The Ostrich: Are you avoiding your finances? I admire people that can put things out of their mind. It’s healthy, to an extent, to be able to put worries aside and just live life a little rather than obsessing about things. “The Ostrich” is someone who has this skill NAILED, often to an unfortunate degree. Rather than facing their finances head on, they ignore credit card balances, due dates, budgets and actively saving. Maybe they assume they have the income to cover whatever they are spending, maybe they are afraid of what the numbers actually are, or maybe they genuinely don’t care (how do you DO that?). Regardless of the reason for the behavior, the consequences are the same. Here are the big three: Absolute ignorance of financial health Imagine not seeing a dentist for 20 years and then being shocked when your teeth start falling out. That’s what ignoring your finances does. When it finally comes time to face the music, any problems that have cropped up along the way have become so bad that they are infinitely harder to correct, if they can be corrected at all. Reaction time Because you don’t know what your situation actually is, when a problem (or opportunity) arises, you can’t act quickly because you need time to get your ducks in a row. During that time your problem may compound, or that fun opportunity may go away before you can figure things out. Lack of interest = a lot of interest The due date on that credit card statement isn’t a suggestion. They are super serious, and even one day late will cost you hundreds in interest and fees. Do that a few times in a row (or perpetually) and you are shelling out a lot of money with zero to show for it. Even if you can’t pay it in full, paying the minimum amount by the due date is non-negotiable. I get it–finances are scary, and when there’s debt involved it can feel like a bigger monster than you are able to face. It’s natural to want to bury your head in the sand and just hope it’s going to be okay. If you have been ignoring your financials, this is your sign to ask for help. Go to missoulabookkeeper.com/book-a-consult to schedule a no judgement, no shame, no guilt (and no COST) consultation. Let us help you get back on track! https://www.missoulabookkeeper.com/blogarchive/the-pendulum monthly 0.5 2023-11-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/bae2acf0-d781-4720-9a51-58925e3c46d2/Splurge.jpg Blog Archive - The Pendulum: Save and Splurge Anyone who has ever been on a diet can recognize the pattern. You're hyper vigilant about everything you consume. One day you simply can't take it any more. Absolutely sick of going without, the dam breaks & eat everything that isn’t nailed down. You feel terrible, swear to be good & the cycle starts all over. “The Pendulum” is someone who does this with their spending. They cut costs and bargain shop, faithfully denying themselves any expenditure outside of their allotted budget. Eventually, the expectation of perfection is too much & they swing the other way, blowing their hard earned savings. This unfortunate cycle has some BIG consequences: 1. Because the splurge point is a bit of a manic state choice, there’s rarely much thought put into the particular thing you splurge on. As a result, you often end up with something that isn’t particularly useful or meaningful to you. Awesome, I’m broke AND nothing to show for it. 2. You worked really hard to save that money and you fumbled it. You feel awful about yourself and the negative self talk is LOUD. You may begin to believe that you aren’t at all capable of handling your finances, or punish yourself by restricting your spending even further than before. No one needs that hit to their self esteem. 3. Car needs an expensive repair? Medical bill pops up? Friend invites you to a once-in-a-lifetime event? You’re out of luck, Chuck. That bank account is dry as Arizona and you are stuck with the Steak Of The Month Club. You may be able to use a credit card, but now you are racking up debt and interest and the problem is exponentially worse. Retail therapy is real–splurging once in a while is actually healthy. What’s the point of money if you don’t use it, anyway? But splurging wildly & without thought is a sign that you are out of control & need to re-evaluate your patterns. If you had $100 to spend totally irresponsibly, what would you do with it? An informal poll at my house says: inflatable t-rex suit, roller skates & a suit of armor (I’m not even going to tell you which of those answers belongs to me & which ones are from my kids). Drop your answer in the comments! https://www.missoulabookkeeper.com/blogarchive/kids-money-habits monthly 0.5 2023-11-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/fa2c1a99-5742-4a6f-840a-abf854a51e9f/Shaping+kids+attitudes+about+money.jpg Blog Archive - Helping Kids Develop Healthy Money Habits. One of the biggest factors that shapes your financial attitude is your upbringing. Many of us were taught that it was rude to talk about money. Attitudes have changed a lot since I was a kid & people are becoming more transparent with their kids than past generations. Money is a complicated subject, but there a couple things everyone should keep in mind: Focus on values Think about what you place value on. Are experiences important to you? Perhaps it’s the security of having savings. Do you place value on workmanship & put a lot of effort into buying things that have been sourced ethically? The answers to these questions will heavily influence how you make purchasing decisions, so it’s important to be able to communicate the “why” when you talk about where your dollars go. Give them a chance to earn & spend Whether it’s an allowance, extra chores, or an actual job, the opportunity to earn money & spend it is always fun for a kid. While it’s absolutely appropriate to offer guidance about how they should spend their hard earned money, it’s equally important that they be allowed to make mistakes. Let them regret some purchases. Better now than later, right? Make it part of the regular conversation This is perhaps the most important part of the equation. Discussing money should not be a one & done conversation. Finances play into practically every decision you make, so it’s crucial that it’s something you discuss often and openly. The age & maturity of your child will determine how financial lessons play out in a practical sense. It’s also a good idea to decide how much of your family’s financial situation to share with them when they ask (and they will). This can be the scary part, especially if things are tight and you have a little worrier on your hands. Teaching your kids about money is an act of love. Helping them develop the tools to manage their resources is a gift that will serve them every day of their lives. Growing up, did your family talk about money? How did that influence you as an adult? Let us know in the comments, & don’t forget to share this post with a friend! https://www.missoulabookkeeper.com/blogarchive/the-high-roller monthly 0.5 2023-11-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/56959016-bdbf-4bc7-906e-ac46992fdcb4/Money+Languages.jpg Blog Archive - The High Roller. When I say someone is an overspender, you probably picture a person who spends a lot of time online shopping, partying, or someone out traveling the world. While that may be the case in some situations, it’s much more likely that an overspender lives a life much less glamorous than that. In fact, 47% of Americans are overspending in one very mundane category: groceries. Spotting a “high roller” is less about what they spend their money on and more about the why. So, what traits tie these big spenders together? They don’t plan A lack of budget definitely comes into play, but this goes beyond just not having a budget. For example let’s look at the grocery example above. If you don’t plan for meals, you may run through the store haphazardly, buying things you don’t need or eventually throwing out things that went bad because you didn’t know what to do with them. And who among us isn’t guilty of just giving up and ordering in when we don’t know what’s for dinner? Caves to boredom or peer pressure We all crave connection, so when our friends want to go to a new restaurant, take in a show, or are raving about the latest technology, we naturally want to join in. It just plain sucks to be left out or to have to admit you can’t afford things, and sometimes that pride just gets the best of us. Doesn’t deal with problems The distraction of spending on something fun can be a hell of a drug. The little high that comes from acquisition may be used as a substitute if you don’t want to face your problems or sort out big feelings. Impulse control problems That quick click on Amazon with little to no consideration, or grabbing a cold drink at checkout are things we all do from time to time, but for chronic overspenders this is the rule and not the exception. These habits don’t mentally register as a real expense and REALLY pile up even though they feel small. It’s fun to throw caution to the wind sometimes and just have some fun. Plan for the future, but buy the damn shoes, as we say around here. But if you are spending for unhealthy reasons, and your splurges are getting out of control or damaging your relationships, it’s definitely time to re-evaluate your habits and make some changes. Are you a high roller? Have your habits left you overextended and accumulating debt? Go to linktr.eee/missoulabookkeeper for strategies for reducing your spending as well as downloads and other resources for tackling your debt. https://www.missoulabookkeeper.com/blogarchive/why-are-you-like-this monthly 0.5 2023-11-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/ccca3f67-d8c8-4bfb-a290-778ae1eaec3f/Feeling+Passionate.jpg Blog Archive - Why are you the way that you are (when it comes to money)? There are things we all know about money–they are common knowledge. You should save for a rainy day, budget so you don’t overspend and keep your debt as minimal as possible. However, when it all boils down, our attitudes and practices around our finances are based more in history and emotion than actual knowledge. Here are the biggest things that heavily influence your spending habits: Social Pressure The pressure to do what your friends are doing doesn’t end in high school. We all want to belong and enjoy experiences with people we care about. Furthermore, we may want to give the impression that we are in the same financial position as our peers, even if it’s not at all the case. Upbringing Maybe you were taught to not talk about money, or that you should enjoy whatever you have because you can’t take it with you. Geographical and cultural differences can also influence you heavily in your formative years as you learn about the value of a dollar and the consequences of saving and spending. Personal experiences Someone who has struggled to make ends meet at any point never really stops looking over their shoulder, no matter how much they earn. Conversely, someone who is used to having a lot of resources, may find it very difficult to adjust to new circumstances, and find themselves spending without thinking about how to cover the costs. Whatever it is in your past or present that leads to the financial decisions you make, give yourself some grace. Everyone’s choices are a mix of responsible and not so responsible, and that is absolutely okay. Learn from your mistakes and do NOT forget to be proud of yourself for your wins. What do you think fuels your money decisions most? Were you taught to pinch every penny? Maybe you grew up struggling financially and you never really stopped being afraid of being broke. Let us know in the comments. And while we have your attention, visit linktr.ee/missoulabookkeeper and subscribe our podcast, She Means Business, where we talk about everything small business related. https://www.missoulabookkeeper.com/blogarchive/the-scrooge monthly 0.5 2023-11-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/5d5cd45a-3987-4d38-aff1-97fb2827148d/Money+Languages+%281%29.jpg Blog Archive - The Scrooge. There’s a show called “Extreme Cheapskates” where they profile real people who go to great lengths to save money. For example, they interviewed a guy that showers in his clothes rather than doing laundry AND showering. Talk about two birds, one stone. Maybe not to quite those extremes, but we all know someone who goes the extra mile to save money. To be clear, this is not to be confused with someone who is genuinely on a very tight budget. The “scrooge” is someone who is miserly mostly by choice, and have some of the following bad habits: HABIT: Excessive DIYing to save money CONSEQUENCE: Project may be out of your scope, illegal, or even dangerous, costing you more in the long run on errors, fines, or injuries. HABIT: Skips out on (or mooches) a social life. CONSEQUENCE: Family and friends feel unimportant, or worse–taken advantage of if they feel like you have skipped out on your fair share of a night out. HABIT: Saves without purpose. CONSEQUENCE: Saving without a goal in mind may keep you from putting that savings to work for you in the most efficient and effective way. HABIT: Complains about the price of everything CONSEQUENCE: First of all, you’re driving everyone nuts with the constant bitching. Second, it’s unlikely the listener can do anything about the price. That negativity isn’t doing anyone any good. Are you a scrooge? Do you reuse dental floss? Is the expiration date on your food merely a suggestion? Do you try to pass off your preteen as a really tall 7 year old when buying movie tickets? What is the craziest way you have seen someone try to save a buck? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/money-language monthly 0.5 2023-09-20 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/95b0b7ec-284a-4b37-9c6a-c5cc72dcb4d0/alexander-grey--8a5eJ1-mmQ-unsplash.jpg Blog Archive - What Is Your “Money Language”? I have a friend that doesn’t spend a dime beyond what is absolutely necessary. She never misses an opportunity to cut costs and carefully puts away everything left after her bills are paid. Seriously, she can squeeze two pennies and make Lincoln burp. On the other end of the spectrum, my other friend never saves ANYTHING. She barely covers her bills and is constantly shopping and going out. A real YOLO kinda gal. When it comes to money, your habits and attitudes have been shaped by a lot of factors. Your family of origin, religion, culture, age, romantic partners and social pressure have all likely played a role in how you save and spend. While the factors that influence us are varied, I have a theory that most of us fall into one of a few categories when it comes to our style of money management. The Scrooge: Never spends a dime more than necessary. Feels bad about dipping into savings, even when necessary. The High Roller: Money burns a hole in their pocket. Always has to have the new thing, always in “treat yo self” mode. The Ostrich: Ignores everything and just kinda hopes it’s all going to be okay. Included accessory: pile of unopened bills. The Pendulum: Binge and purge mentality. Like a yo-yo diet, they sacrifice and save and deny themselves things until they just can’t take it anymore, and then they go overboard spending. The Bleeding Ulcer: Constantly checking numbers and balances and always worried about spending too much or not saving enough or not investing correctly. Thinking about money keeps them up at night. Over the next month, we will break down each of these styles in more detail, including the positive and negative implications of each and how to recognize and break the bad habits that are associated with them. We will also explore what shapes our values about money, and some strategies for finding balance in our spending. Where do you fall on the spectrum? What are the factors that contributed to your money habits and attitudes? Let us know in the comments! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/ab67950d-c96f-46fe-9eaf-977343d5af4f/drunk-witch-6.jpg Blog Archive - What Is Your “Money Language”? - The Drunk Witch Damn, I love this time of year. The air starts to get cooler, and all the spooky things start to appear. I found this recipe the other day, and it’s definitely going to on the menu at my next party. Not only is it beautiful and purple-y, you can’t beat the name. Because if they’re going to call you a witch, you might as well lean into it, amirite? 2 ounces vodka 2 ounces blue curacao 2 ounces grenadine top with Sprite For extra funsies, rim the glass in green sugar. Drink up, witches! https://www.missoulabookkeeper.com/blogarchive/ignoring-bookkeeping monthly 0.5 2023-09-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/c04b828d-58b6-4fb8-b584-9154f5921b3c/Feeling+Passionate.jpg Blog Archive - Bad Habit: Ignoring Your Bookkeeping If you haven’t noticed, we have been talking a lot about bad habits this month and we would definitely have to turn in our membership cards to the “Badass Bookkeepers Club” if we didn’t bring up bad bookkeeping habits (that club doesn’t exist, but it should. Let’s get matching jackets). If you don’t have a bookkeeper, you definitely shouldn’t put off: Categorizing transactions: Not only are you likely to forget what things were, some banks don’t show transactions very far back, and you won’t be able to see who checks were to, or where deposits came from. Reconciling: We got into depth on this last week, but basically, reconciling ensures that nothing funky is happening in your accounts like fraud or duplicate transactions. If you DO have a bookkeeper, those things are already being done for you, but you still have responsibilities, such as: Ask Transactions: Your bookkeeper will set aside transactions they need more information on. If you stay on top of that list, it makes tax time SO MUCH easier and puts you at the top of the priority list for getting things closed out. Reports: Periodically take a look at your provided financial reports and if anything looks weird, ask your bookkeeper to clarify. This is the best way to find any errors or things that ran through your personal account by mistake. Checking in: Depending on the size of your business you may want to check in as often as monthly, or as little as mid year and end of year. Regardless of the time frame, it’s important to schedule meetings with your bookkeeper regularly for the most accurate numbers and the best advice possible for healthy growth. We are all doing the best we can, so you shouldn’t feel bad if you aren’t perfectly executing in these areas. Just resolve to do a little better every day, and if you need help, we have you covered! Visit the link in our bio and you can: schedule a new client consult, schedule a current client meeting, download resources to get you on track, sign up for our newsletter, listen to the podcast and so much more! https://www.missoulabookkeeper.com/blogarchive/get-lazy monthly 0.5 2023-09-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/98261bdc-0c8e-4115-a5d4-32bc7fcef8f1/Why+You+Shouldn%E2%80%99t+Get+Lazy+About+Checking+Your+Credit+Report.jpg Blog Archive - Why you shouldn’t get lazy about checking your credit report. Checking your credit score is one of those things most of us know we SHOULD do, but we don’t really know why. It’s also one of those little tasks that is really easy to forget about or push to the side. Experts recommend you check your credit report at least once a year and more often if you have a lot of accounts. There are a few really good reasons you should be checking your credit report regularly (and one you may not have thought about): Verify accuracy Check to make sure your name, address, phone number and other information is accurate and up to date. This is the stuff creditors use to report your payments, so if it’s not right, you may not be getting points you deserve for paying on time. Dispute errors Accounts listed multiple times, incorrect balances, or closed accounts still being listed as open are just some of the errors people often find by checking their report regularly. Detect fraud Inquiries you didn't authorize or fraudulent accounts can really tank your credit score. Check regularly to make sure you haven’t been a victim of identity theft. Be prepared for major purchases If you anticipate making a major purchase like a car or a home, or taking out a loan for something else, you should check your credit report at least three months beforehand for two reasons: first of all, to prepare you for what kind of interest rate you may qualify for and second, to give you an opportunity to correct any of the above issues before it’s time to qualify. Checking your credit report regularly is like getting a regular physical at the doctor’s office. It’s so much easier to find and treat problems BEFORE they get out of hand. Go to the link in our bio to get your free credit report from the three main credit bureaus and stay on top of your credit health. #credit #health #creditreport #fraud #error #omission #loan #debt #experts https://www.missoulabookkeeper.com/blogarchive/lets-pretend monthly 0.5 2023-09-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/b793c6da-e282-4e7e-b29c-79c5cfdf7709/let%E2%80%99s+pretend+this+isn%E2%80%99t+happening..jpg Blog Archive - Let’s pretend this isn’t happening. Debt can sneak up on you. Your income was a little light & you have to cover your bills, there’s an unexpected car repair, maybe you just didn’t plan as well as you thought & you find yourself in the red. No matter what got you into debt, it’s very common to ignore the problem. I say that with ZERO judgment, by the way–I’m just as guilty when it comes to not wanting to confront the issue and avoiding the real number I owe. Please hear me when I say that debt is not a moral failure. You’re not a negligent person, a bad parent, incompetent, or any of the other terrible things your guilt is telling you. You are a normal human, living in a world that is expensive & unpredictable. Give yourself a break & take these steps to get back on track: Stop the bleeding. Look at what caused you to go into debt. Some things are out of our control & that’s life. But there may be underlying reasons making that debt problem get bigger & bigger. If you find yourself overspending because you are spending emotionally or to fit in with your peers, those are serious things that need to be addressed. Budgeting is queen. If you don’t have one already, please start. Even if you start small and adjust as you figure things out–you don’t have to be perfect on the first try. Give yourself some space to make mistakes and changes along the way, but start SOMEWHERE. More than the minimum. That interest will KILL you. Any little extra you can put towards the balance will really make a difference. For a little extra help, we recommend undebt.it to formulate a plan for making payments in the most effective way. Save. Once you get that balance paid off, start socking something away for the next unexpected expense. I use an app that automatically moves a little money every day from my checking to my savings account. It’s like tricking myself into saving money. It's so tempting to put your head in the sand & not face the reality of how much you owe, but ignoring your debit just makes the fear and shame get bigger and bigger. Be kind to your future self and take control of the situation. You’ve got this! #debt #personalfinance https://www.missoulabookkeeper.com/blogarchive/balance-your-checkbook monthly 0.5 2023-09-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/901e8455-79ec-4c52-8ec1-e9ed82715cbd/I+Haven%27t+Balanced+My+Checkbook+Since+1997..jpg Blog Archive - I haven’t balanced my checkbook since 1997. I have a confession. I haven’t balanced my checkbook since like, 1997. I know, I know…of all people, I’m supposed to be the shining example of perfection here, but spoiler alert–I’m human. In a perfect world, we'd all be checking our accounts once a week and reconciling at the end of the month. If you’re our client, this is exactly what’s happening, so YAY for you on a professional level. Those same rules should apply to your personal accounts. Back in the day, you got your paper statement at the end of the month & you sat down with your register to figure it all out. Fast forward about a billion years & technology has evolved to the point that the ability to constantly access up to date information has made us lazy about the math. Turns out, there are lots of valid reasons to double check your accounts & reconcile every month. Keeps you on budget. Even if you don’t use a budget (WHY?) tracking your spending helps you see where your money is going and where you can cut back if you need to. Recognize error or fraud. The bank doesn’t make a mistake often, but when they do, it can be catastrophic to your balance. Similarly, a hacked debit card can really make your life h-e-double hockey sticks if you don’t catch it quickly. Helps you save . Imagine this: you watch your spending and & have a good idea how much is “left over” at the end of the month. You can now MOVE that into savings & know exactly how much you have to travel, make a large purchase, or set aside for an emergency. Doesn’t that feel good? Spot subscriptions or recurring payments you forgot about. You forgot to cancel that trial subscription & you are now being charged. If you don’t watch your account, that can slip under the radar for a long time before you figure it out. Reconciling is a bit of a bummer & it's easy to put it off. But taking a more active role in monitoring your accounts takes a lot of the anxiety out of your finances in the long run. Do you need help monitoring your business transactions and keeping your reconciliations up to date? Visit the link in our bio to set up a free consultation! #smallbusiness #entrepreneur #budget #monitor #fraud #hack https://www.missoulabookkeeper.com/blogarchive/purge monthly 0.5 2023-09-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/577f831b-c76f-4331-b40d-2e3649839359/IT%27S+TIME+TO+PURGE+%281%29.jpg Blog Archive - It’s Time To Purge: why you should break the habit of “collecting” It’s purge season at my house. Over the last month, I have been going through every closet, every drawer and every cabinet and ruthlessly getting rid of things that have accumulated. My bedroom was an especially large project, resulting in 31 (yes, 31) bags of things going to the donation bin. Like many people, I had hung on to things I wasn’t using, thinking maybe I would need them someday. Pieces of clothing that didn’t fit, were no longer in style, or things I had forgotten I bought were cluttering up my space. As I was combing through everything, I came to some hard realizations. I have multiples of nearly identical things. Because things were getting buried and pushed to the back of the drawer, I didn’t know what I really had, leading me to waste money on things I did not need. I won’t actually put that on Poshmark. This is a big one. I think I can make a few bucks on it, so I put it aside, imagining a little windfall of cash on all those precious things that I perceive to be valuable. Guess what? I almost never end up doing it. The only “windfall” I get is an influx of guilt and shame as the pile grows and reminds me that I failed at the project. I attach memories to things. Good AND bad unfortunately, and once it has a bad memory, I never wear it again. As impractical as it is, I can accept this about myself and from now on, I will not let that negative energy lurk in my space. I keep things because I feel bad about “wasting” the money I spent on it. Repeat after me: the money is gone. Whether you keep the sweater or donate it, the money is gone. Don’t punish yourself with clutter, but instead pass it along to someone who will actually use it. Putting off a purge is a bad habit. It costs you money in the long run, and significant mental space. Big clean outs can feel overwhelming, so start small if you have to: a drawer here and there, a shelf at a time, one kitchen cabinet. Letting go lightens your emotional load. Challenge: pick one spot, no matter how small and tackle the clutter that is taking over. What clean out project have you been putting off? Let us know in the comments! #cleanout #theurgetopurge #declutter https://www.missoulabookkeeper.com/blogarchive/damn-you-bezos monthly 0.5 2023-09-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/058ab3bc-e382-4df5-b243-1dd27d3885f7/Amazon+is+out+to+destroy+me..jpg Blog Archive - Amazon is out to destroy me. Have you seen the “supoon”? It’s a spoon & a spatula & a measuring cup. It’s engineered to not mess up the counter. Naturally, I ordered one immediately, ONE AGAIN falling victim to an impulse purchase. Damn you, Bezos! Impulse spending is up 51% since 2020, and 2 out of 3 of those purchases happen in bed on a phone (I feel targeted). We have all fallen victim to buying things we do not need (& can’t afford) in the heat of the moment. On average, we blow around $275 a month on these purchases. If you invested that money, in 10 years you’d have nearly 60 grand. Oof…I’ll give you a moment to sit down & recover. I love the thrill of an impulse buy as much as the next person & it’s not reasonable to think I’m NEVER going make one, but what steps can we take to keep it under control. Wait a day. Something about nighttime makes me a little looney. The light of day often brings out my more reasonable self. Put it in the cart & then find something else to do. See if you're still feeling it in a day or two. Check your emotions. When you're angry, sad, upset or frustrated, shopping can be a way to distract yourself. Feel the feels, or at the very least, find a distraction that's healthier than draining your bank account & filling your house with crap. Technology is the enemy. That auto fill is the devil. Sometimes, the biggest deterrent is having to GET UP to go get your credit card info. If that applies to you, consider deleting your card from the digital memory or logging out of payment apps to give you a little nudge to think about it. Plan for it. If you’ve been following a while, you know we advocate for fun. You SHOULD spend a little on things that make you happy. If you make a budget and factor in a reasonable amount for impulse buys, you don’t have to feel guilty about it at all. Drop a if you think your impulse buying has increased in the last couple of years. What steps have you taken to keep them under control? What has been your most ridiculous impulse purchase? #smallbusiness #entrepreneur #money #impulsebuy #amazon #budget #spending https://www.missoulabookkeeper.com/blogarchive/bad-habits monthly 0.5 2023-08-17 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/c310c016-a78a-4a30-9d1b-a9c3495986bf/estudio-bloom-KvkvaFlZdSg-unsplash.jpg Blog Archive - Bad habits are killing you financially. - There are two times of year that naturally have me reflecting on my personal choices and assessing changes I want to make moving forward: New Year and back to school. So, yep, it's that time. Just like our personal health is an accumulation of our habits and choices, so is our financial health. Whether in our personal lives or professional endeavors, certain money habits can slowly erode our financial well-being over time. This month, we will explore damaging money habits that affect both our personal and professional lives, and talk about ways to set healthier money habits moving forward. Here are a few things we will cover: Impulsive Spending: Whether personally or in our business, Impulse buying without considering the long-term impact on our finances can drain our resources and derail our financial goals. In your business this can mean hiring a consultant that you can’t afford or doesn’t really fit your needs or making a big purchase without really assessing the long-term ROI. This goes hand in hand with the next point. Spending Beyond Your Means: Constantly spending more than we earn will drain our savings and add debt and financial stress that will weigh on you. Also, relying on high interest credit cards to fund your lifestyle or business can lead to a never-ending debt cycle. Reviewing your personal and business financials regularly can help keep this in check. Failing to Save: Neglecting to save for emergencies, retirement, or future goals can leave us vulnerable and unprepared for unexpected expenses. Set a minimum monthly amount that goes into savings on both the personal and professional sides. Ignoring the Data: For many of us finances are a very emotionally driven topic, but if we can get to the raw data and numbers, we can start to make good choices. This means tracking your finances, both personal and professional, creating and reading reports to understand your past spending and then creating and sticking to a budget that will help you moving forward to get where you want to go. If you aren’t looking at the actual data and making decisions only on your “gut” you are putting yourself at a disadvantage. Not Knowing your Worth: Pricing your products or services too low can undermine a business's profitability and make it difficult to sustain. Also, making your personal pay last priority or not paying yourself a reasonable amount from your business can make you resentful and unmotivated. Not Using Your Team: We talked earlier this year about building a team around you to help you be a better business owner. If you aren’t using the right professionals, resources and friends to make you better, then you are just going to be spinning your wheels. Living in an echo chamber of your own bad decisions won’t help you move forward. Check out this week’s Podcast interview with Janna Lundquist for a great discussion about this. We will also talk about strategies to break your bad habits and end 2023 in a better spot. Awareness and Education: Acknowledging the damaging habits is the first step. Educating yourself about your personal and professional finances and seeking out professional advice will get you moving in the right direction. Get the data you need to make good decisions and use it! Setting Clear Goals: First you have to know where you are, then you can define your financial goals and develop a plan to achieve them. Whether it's saving for a vacation or growing your business, having a roadmap is crucial. Budgeting: This holds true for your personal life and your business. After you have the data and the goals, create a realistic budget that aligns with your goals. Track your expenses and adjust your budget as necessary. Review things monthly or quarterly to make sure you are staying on track. Emergency Funds: Prioritize building both a personal and a business emergency fund to handle unexpected expenses or setbacks. Start with a manageable amount like $100 per month. Invest in (or set yourself up for) Self-Control: Freeze your credit cards in a block of ice. Find a meditation or activity that helps ground you when you want to emotionally spend. Have a friend, mentor or partner you can call when you need advice and who will check in our your goals and progress. Practice delayed gratification and avoid impulsive purchases. Avoid jumping into every opportunity without careful consideration. As you look at your own money habits and cringe, know that you aren’t alone. All of us here at Missoula Bookkeeper have our own challenges that we are working through and we talk with clients and friends everyday in the same boat. Let’s spend time this month getting into a better place financially so we can achieve greater financial stability and in turn, less stress and anxiety. Here’s to ending 2023 on a high note! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/7cf4798e-4ecd-4990-81da-3e2f8348f027/jared-subia-QczH4IiPNx0-unsplash.jpg Blog Archive - Bad habits are killing you financially. “Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones.” https://www.missoulabookkeeper.com/blogarchive/avoidance monthly 0.5 2023-09-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/e7606149-03a1-4704-811c-471ec147e3d6/i+avoided+this+post..jpg Blog Archive - I avoided this post. I put off uncomfortable tasks. There is a part of my brain that, for reasons unknown to me, figures it’s better to sweat and worry and twist about it for a few days. I don’t want to face that email, that text, that paperwork, so I just pretend it doesn’t exist–or more often–busy myself with something else that definitely isn’t as important. As you can predict, once I actually tackle the task, it’s never as bad as it seems and I feel much better. I’ve ruined a day or two of my life with anxiety over literal minutes of discomfort. Lately, I’ve made a conscious effort to “eat the frog” as they say and jump on top of these things before the dread sets in. Here is what I have learned: I feel lighter. Carrying the emotional weight of impending doom is a bummer. The worry does nothing to lessen the impact of the eventual doing, and absolutely hangs a dark cloud over everything you do in the meantime. I sleep better. No tossing and turning, playing out potential conversations and outcomes. Just sweet, sweet dreams of me and Henry Cavill romping through a field of daisies (sometimes we have corgis too). Goodbye, guilt. You know that feeling you get when you sit down to watch TV or read a book or do whatever relaxing thing you like to do? The one where that little voice in the back of your head yells at you about all the things you are NOT doing and what a schmuck you are for daring to relax? Gone. Anxiety, fear of consequences, lack of goals…whatever it is that prevents you from facing things head on, I encourage you today to take back control of your brain and commit to changing that bad habit. Your mental health deserves the extra effort. What task have you been putting off? Cleaning out a closet? Scheduling a dentist appointment? A hard conversation with a friend? Let us know in the comments! #procrastination #avoidance #difficult #guilt #relax #frog #consequences #corgi #today #free #smallbusiness #entrepreneur https://www.missoulabookkeeper.com/blogarchive/dont-skip-on-health monthly 0.5 2023-09-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d9fab97e-1b2b-442e-b895-1fef99a4f160/Health+Stuff+You+Definitely+Shouldn%27t+Skip..jpg Blog Archive - Health Stuff You Definitely Shouldn’t Skip. We already talked about the importance of health insurance, and regardless if you choose to follow that advice or not, taking care of your health should be a top priority. This is especially true when it comes to preventative care such as the following: Vision: This goes way beyond seeing the menu at Chili’s. Your eye doctor can identify significant indicators of cancers and other diseases that can lead to blindness. Teeth: The health of your mouth can significantly impact your body. Research indicates that periodontal disease can lead to heart issues, stroke, diabetes and respiratory problems. Hearing: There is a major quality of life decline when hearing deteriorates. It’s not just missing out on social conversations, either. People with hearing loss are at an increased risk of dementia. Furthermore, mild hearing loss triples the risk of falling. Cancer screenings: Pap smears, mammograms, prostate checks and colonoscopies are embarrassing, inconvenient and not fun. You know what else isn't fun? Cancer. Just do it and get it over with. Mental health care: Your physical health means very little if you are struggling mentally. For the sake of you and those that love you, please make your mental health a priority. STI screening: This applies to even those in a monogamous relationship, or those that don’t have any symptoms. In fact, most STI’s have little or no symptoms and can lay dormant for years. Some STI’s only require a little skin to skin contact to transmit, and can cause major long term health issues if untreated. Have fun, but be safe! It’s so easy to put off routine healthcare, especially when you feel okay, but preventative care is so important for your long term well-being. An ounce of prevention, as they say. Have you been putting off one or more of these routine appointments? Drop your favorite emoji in the comments if you promise to make an appointment THIS WEEK to take care of your health. Share this with someone you care about and challenge them to do the same! #challenge #share #smallbusiness #entrepreneur #health #mentalhealth #sexualhealth #cancer #screening #prevention https://www.missoulabookkeeper.com/blogarchive/happy-heart monthly 0.5 2023-09-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/c71bdf9a-a0a5-4edb-a10c-001f8200866b/HAPPY.jpg Blog Archive - Don’t Skip The Things That Make Your Heart Happy. Every day we have to make lame decisions in the interest of being responsible. We get the generic brand, we drive our cars longer than we want to, we scale back on travel. While watching out for the bottom line is admirable, there are some things in life that you just can't pass on, even if it's for no practical reason. Pass the side of guac (even if it’s extra) and enjoy this list of things I will always invest my time and money in: Naps (especially on a rainy day) A great meal with a friend Flowers in an especially beautiful color An airport cocktail (it’s overpriced, it’s 6 a.m. and I don’t care) Birthday donuts Family dance party in the living room Another strand of twinkle lights All the plants I hate the phrase, “guilty pleasure”. Why should you ever be guilty about the little things that make you happy? Do us a favor and celebrate today with something that makes your heart sing, whatever it is. You only have one precious life, make it great. We want to know what’s on your list. What is something you invest your time and money into just because it makes you happy? Please let us know in the comments! #simplepleasures #happy #smile #celebrate #heart #instasmiles #smileface #watermelon https://www.missoulabookkeeper.com/blogarchive/dont-cut-insurance monthly 0.5 2023-09-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/7617483e-b929-463e-9399-65cb943adb33/Don%27t+Cut+This+Corner+%281%29.jpg Blog Archive - Don’t Cut This Corner: Insurance I have life insurance. Often, when that money comes out of my account, I think about all the things I could have spent it on, or how nice it would be to put it in savings. The same is true for my personal property insurance and health insurance (don’t get me started on needing separate coverage for my eyes and teeth). When you need to budget carefully, it’s so tempting to forego “unnecessary” coverage and hope for the best. Not to be all adulty, but there are a lot of really solid reasons to stick with it and keep that insurance up to date. Cover your ass(ets). Your home or renter’s policy only covers so much. In all reality, you own much more than the minimal property coverage protects. For example, a standard home policy only covers about $1000 for jewelry. Getting a personal property policy in addition will help cover things like jewelry, sporting goods, electronics and firearms that are above these limits. Crippling debt, anyone? If you don’t have health insurance, you will pay out of pocket–at prices much higher than they bill insurance. One accident, one illness, one fall down the steps and you could find yourself under a mountain of debt. Your body may recover, but your bank account and credit score never will. You're going to assume room temperature eventually. Like my grandma used to say, “no one wants to deal with your dead carcass”. But seriously, leaving a big pile of crap for your loved ones to deal with isn’t cool, bro. Make sure your family has some funds to take care of your final expenses at a minimum. And if there are people that rely on your income (or they would have to suddenly pay for childcare in your absence), make sure that is covered too. Insurance of every type is a safety net for when bad stuff happens. And who are we kidding–it will. Paying those premiums isn’t fun, but it’s really a big deal to protect yourself and your family for the long haul. Do you know an insurance professional that you trust? Tag them in the comments! #insurance #protection #life #property #medical #smallbusiness #entrepreneur https://www.missoulabookkeeper.com/blogarchive/sm-corners monthly 0.5 2023-09-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/85dbf252-3f5a-4f25-96c1-97cde2ac1e71/Copy+of+financial+vocabulary+%283%29.jpg Blog Archive - Marketing Monday: Don’t Cut These Social Media Corners When your small business runs short on resources, marketing is often one of the first things to go. For so many, it feels like a chore, so not much of an excuse is needed to just put it to the side. But the customer journey starts with a single click, so it’s important to keep your socials up and humming. Specifically, here are some social media corners you shouldn’t cut: Figuring out your values. All of your content, all of your marketing efforts, all of your charitable dollars, all of your EVERYTHING should be grounded in your core values. Take the time to really think about what matters to you and make sure everything reflects that. Be yourself. Authenticity is magic. Show your clients the real you–your wins and losses–and you will win hearts and dollars. It’s so hard to be vulnerable and put yourself out there, but the best customers for YOUR business will identify with you and your story will resonate loudly. Your mom was right, it's really always best to just be yourself. Trying to do it all. You got into business because there is something you love to do and you are damn good at it. Unfortunately, there’s a lot more to business than just that skill. When dealing with social media and marketing efforts interfere with your ability to teach yoga (or do custom printing, or be a therapist, or practice law, or run your non-profit, or…) then it’s time to ask for help. There is no shame in outsourcing, especially when it frees you up to put your time into your bread and butter. Do you struggle with putting the time you should into your social media? Do you need help figuring out what to post, when to post, and how to tell if your efforts are working? Go here to schedule a free consult for social media management services. We can set up a customized package to give you just the right amount of help to fit your needs and budget #smallbusiness #entrepreneur #socialmedia #socialmediamanagement #authenticity #values #beyourself #pillars #budget #outsource https://www.missoulabookkeeper.com/blogarchive/not-worth-it monthly 0.5 2023-08-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/2e4e19e8-fba6-46f4-8904-59c743bc14f4/Money+Saving+Habits+That.jpg Blog Archive - Money Saving Habits That Aren’t Worth It. - Make it stand out One of my favorite activities is hitting thrift shops, estate sales & FB marketplace for treasures. Recently, I had a BIG load of things to donate. While I was there, I made the mistake of going inside just to check things out. Long story short, I discovered a cabinet that I couldn’t live without and I had to rent a trailer to get back home. I’ll probably (definitely) do it again. Anyway, as much as I love a bargain, there are some frugal habits that just aren’t worth it: Bulk purchases. If it’s going to expire, rot, or if you will likely die before you can finish it, you’re not actually saving money. Split bulk purchases with a friend if you just can't resist the temptation of Costco (and who could blame you). DIY overload. By the time you get the supplies and spend hours googling how to do it, you’ve likely invested just as much as you would have paid a professional. And that is doubly true if you mess it up and have to make adjustments. A project here or there is reasonable, but know when to leave it to the pros. Certain second hand purchases. Car seats, helmets, cribs & personal hygiene products are just not safe to buy used. Also, be extra careful to check electrical cords for wear and remember that some older dishes and cookware contain lead. Personal safety should always come first. Hanging on to things. I just did a major closet purge. During that process, I discovered that I had multiples of nearly identical items because I had held on to so much that I couldn't even see what I owned. It’s tempting to hang on to things because you “might” use it someday, or because you think you will sell it (guilty!). But in the long run, you end up not even using half the stuff you have, not to mention the emotional load of clutter and chaos. We admire a solid effort to reduce unnecessary spending, but sometimes the juice isn’t worth the squeeze. Are there “money saving” hacks you have given up on because you realized you weren’t actually saving money? What about hacks that DO save money, but aren’t worth the extra time / effort / mental load it costs? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/legal monthly 0.5 2023-08-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/a4d4f09c-308e-4d00-831b-3ce4e10a582d/Don%27t+Cut+This+Corner.jpg Blog Archive - Don’t Cut This Corner: Legal If there is anything that I learned from Elle Woods, it’s this: learning the law is a lot of work. With a little bit of patience and a LOT of YouTube, you can DIY a lot of things in life, but no matter how handy or smart you are, you really should outsource the legal stuff (learned that lesson the hard way). You probably think lawyers are only for the big wigs. For the businesses that make a ton of money and can afford to throw around threats like, “you'll be hearing from my attorney!” but seriously, even a small business needs the expertise of a legal professional. Here are a few areas that an attorney can help your small business: Contracts Forming a legal entity Lawsuits against your business Tax liability Employment issues Mergers and acquisitions Intellectual property Bankruptcy When you cultivate a relationship with an attorney, you get reasonable, seasoned advice. Because they have an opportunity to get to know you over time, they can help you decide exactly when they need to step in, and what areas you just require a few minutes of advice, which saves you a LOT of time and money in the long term. Have you made the mistake I did, and skipped legal counsel in the name of saving money (personally or professionally)? Know a good lawyer for small business? Let us know in the comments below! https://www.missoulabookkeeper.com/blogarchive/worth-the-money monthly 0.5 2023-08-29 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/22c2b625-61f7-4bfb-86a8-1937925f262b/Everyday.jpg Blog Archive - Everyday things that are worth extra money. We are all tightening our belts these days and I am sometimes very guilty of cutting costs a little too radically in the name of saving a dollar. However, there are some things that just make your overall life SO MUCH better that you should never sacrifice on them. Everyone is going to have different ideas about what things are really important to their everyday comfort and convenience, but here are a few things that, in my world, are worth the extra money. Pillows You spend about ⅓ of your life sleeping (or trying to), and a bad night’s sleep can really seep into every aspect of your life from your ability to focus on tasks, ability to make decisions, safely operating a vehicle and interacting with others in a healthy way. No one wants to deal with an exhausted jerk. Do everyone a favor and buy quality pillows and replace them periodically. Toilet paper Please, please. For your own sanity and for the comfort of your own tush, please love yourself enough to get the good toilet paper. Life is too short for chafing. A VERY scientific survey of Missoula Bookkeeper staff determined that toilet paper can also be TOO thick, so apparently there’s a fine line here. A good knife It took me so many years to spend money on a good kitchen knife, and it really wasn't all that expensive. It’s amazing how much more motivated I am to cook and how much joy it brings me to use that little piece of luxury. Confession: sometimes while I’m making dinner I pretend I’m on my own cooking show. Don’t tell anyone. Tattoos Do you really need to be told not to bargain shop for permanent art that goes right on your body? Find a great artist. Wait the wait. Spend the money. No regerts. What are the things in your life you aren’t willing to compromise on? Drop them in the comments! https://www.missoulabookkeeper.com/blogarchive/cutting-corners monthly 0.5 2023-07-18 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/b5f76eeb-db82-430e-8b5a-c757b7689e3e/The+tan+fades%2C+%281%29.jpg Blog Archive - Corners you shouldn’t cut (and some you can). - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/5ebe92df-629d-4a0b-89f9-e6d8053e5669/laura-chouette-6XH_d1e_LTE-unsplash.jpg Blog Archive - Corners you shouldn’t cut (and some you can). Summer is upon us and the temperatures are rising. Hopefully you are taking time to slow down this summer and getting in good time with family and friends! As I have been traveling for both fun and work, I’ve noticed that everything feels expensive right now: groceries, hotels, tickets for fun adventures. I feel like my dollars are not going as far as they did just a few years ago and I know I’m not alone in this. When this happens, we can start looking for places to cut expenses and tighten our budgets down a little bit. It is good to regularly assess our spending and make cuts or changes as needed, but there are areas where you get what you pay for. Cutting too much may cost you more in the long run. This month, we are going to share our thoughts on areas to not cut corners in both your business and personal life. Here are some areas we will cover: Professional Services: Whether it's a lawyer or an accountant, you don’t want to pay for unnecessary things, but you also don’t want to find a bargain-basement provider either. Down the road, cutting corners in this area could cost you big $$ in IRS fines, liability issues and a myriad of other areas. Get recommendations from trusted friends and professionals to find the right person and price point for yourself and set your business and your personal finances up for long-term success Your health: Because we live in one of the only developed nations where we still pay through the nose for health care, insurance, etc, it can be easy to put off check ups, not take preventative steps and try to cut medical expenses. There are definitely strategies to save money on health care that are smart and useful, but cutting too much can be detrimental. Make sure you get all of the preventative checks covered by your health ins. Set up an HSA if you qualify to keep more of your own money pre-tax. Find an activity you love to stay active and spend the money to keep consistency and enjoyment at the forefront and spend a little more to have healthy food options at your fingertips. These investments in your health will pay dividends throughout your life. Quality over quantity: I only buy cheap earbuds and sunglasses because I lose them within 6mo generally. However, I have kitchen appliances I’ve had for 20 years because I splurged on the “expensive” option and have never regretted it. When it comes to day to day items, there are times when it pays to invest in quality. That doesn’t always mean you have to spend a ton. I have a couch that was originally 5x what I paid for it and will probably still be comfy when my grandkids come to visit, but buying second hand allowed me to get the quality without the big price tag. These areas and values will differ personally, but it is good to think about where quality is worth the added price and where it doesn’t make sense for you. We would love to hear what areas you feel like it is important not to cut corners and what you have splurged on that you don’t regret. Feel free to share in the comments or send us a note! https://www.missoulabookkeeper.com/blogarchive/business-coach monthly 0.5 2023-07-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/390816d5-4cd5-4cdb-93f3-e0c555ee3cbe/Business+Coach.jpg Blog Archive - Dream Team: Business Coach It’s totally normal to sometimes feel overwhelmed, anxious or frustrated about running your business. Like Ted Lasso says, “Taking on a challenge is a lot like riding a horse, isn't it? If you're comfortable while you're doing it, you're probably doing it wrong.” However, if you are feeling out of your breadth more often than not, it may be time to call in reinforcements. No team is complete without a coach, and a business coach may be just what you need to help get you on track. A business coach is a professional guide that helps you develop goals, hone leadership skills, create strategies and navigate problems. Here are four ways a business coach can help you: Fill in knowledge gaps. We can’t know it all. Having a professional on your team to suggest strategies and resources you may not have considered (or even been aware of!) can really help you find solutions to the everyday issues that you face as a business owner. They are an objective third party. Sometimes you can be TOO close to a situation and so emotionally invested in the outcome that it clouds your judgment. A business coach has the objectivity necessary to see the big picture and make recommendations based on reason and not emotion. Help navigating challenges. Have a difficult decision to make? Need help figuring out how to have that really awkward conversation with an employee? Your business coach is there to help be a sounding board and the voice of reason when you don’t know what to do and need help hashing out your options. Accountability. We all have that friend (or maybe YOU are that friend) that tells you the hard truth. A business coach is your own personal Roy Kent for your professional life, holding you accountable and making sure you stick to your plans. Would you work with a business coach? Give us a in the comments if you think a business coach could help you. https://www.missoulabookkeeper.com/blogarchive/financial-planner monthly 0.5 2023-07-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/341172cf-43e9-4246-8f2e-ab0b283353b6/missoulabookkeeper.com+%284%29.jpg Blog Archive - Dream Team: Financial Planner Long term planning and investment are huge pieces of the puzzle when it comes to financial health and it really can be intimidating to think about. Math and spreadsheets and retirement projections don’t sound fun to most people, but beyond that, there are a lot of misconceptions about financial planning that keep most people from taking the leap. Here are a few: . You don’t have to be Scrooge McDuck doing the backstroke in piles of cash to benefit from the services of a financial planner. In fact, the industry has changed significantly over the years to be flexible and serve clients who don’t (yet) have a giant income. . Never! A financial planner’s job is to provide expertise and an objective perspective. They help YOU decide what your financial priorities are and don’t dictate your spending in any way. . One of the cornerstones of financial planning is making sure you have a strong plan for emergencies and short term goals. After that, any investments would be balanced and reasonable to maximize your return within the level of risk YOU are willing to assume. , . Different planners have their own fee structure, but often the fees are around 1% and come directly from the investment so you never have to worry about additional costs. Again, they are all different, but you can absolutely find someone at a price point you are comfortable with. . On average, people who use a professional earn about 3% more in returns than those that handle it themselves. Ready to find a financial planner? Go to the link in our bio and download the list of financial professionals we trust for contact information. https://www.missoulabookkeeper.com/blogarchive/virtual-assistant monthly 0.5 2023-07-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/b9217f4d-c4dd-4163-a854-d23b97d81cb5/Dream+Team+Superstars.jpg Blog Archive - Dream Team: Virtual Assistant A virtual assistant, or VA is someone who works remotely and handles administrative tasks like scheduling appointments, data entry, arranging travel and managing email, as well as more specialized tasks as their skill set allows. They can be an employee, an independent contractor, or come from a company that performs VA services. Hiring a VA frees you up to do the big-picture part of your business, while saving money by outsourcing only the tasks you need as opposed to a full-time in house admin assistant. Here are some things to consider when interviewing and selecting a VA: What tasks would you assign to your VA? This helps you plan how much time they need to commit to your business and budget accordingly. Does your VA need to keep your same business hours or can they complete their work on their own schedule? How do they track and bill for their hours? Is there a flat rate option or a minimum number of hours? Is there a backup person or other contingency plan if your VA is sick or on vacation? How do you check in? Is there a regular call / zoom to communicate about ongoing projects? What systems are in place to manage notes and updates so everything is well documented and expectations are clear? We recommend asking a ton of questions to get a feel for compatibility and make sure you have a personality fit as well as similar communication styles. Don’t feel weird about asking for references and doing your due diligence. If you have used a VA, what advice would you give to someone looking for one? What questions did you ask or wish you would have asked? Leave your wisdom in the comments! https://www.missoulabookkeeper.com/blogarchive/influencers monthly 0.5 2023-07-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/cab5ff1a-21c7-40a1-9816-9b1c1ad9e6fc/dream+team+%282%29.jpg Blog Archive - Dream Team: Influencers Your dream team isn't limited to paid professionals that serve you directly. Anyone that influences your decision making, tells you the hard truths or cheers loudly for your wins definitely falls into the dream team category. Here are a few examples: The Networker- This is someone who ALWAYS "knows someone". They open doors for you in your industry, introduce you to other professionals that help you grow, and are typically the first person you think of when you are looking to make connections. They are essential to building your network. The Mentor- Maybe it's a business coach, industry veteran, author, or community leader, the mentor has first-hand knowledge of the day-to-day challenges you face. They have the gift of experience and hindsight to help you navigate the challenges of growth. The Conscience- This is the first person you go to when you wonder if you are doing the right thing. They help you trust your gut and keep you in check when it comes to honoring your core values. This is the person that cares enough to call you out when necessary. The Idol- This is someone who you aspire to emulate. They have built the life / business you are working towards. Personally or professionally, they embody your values and the trajectory you want for yourself. You may not even know this person directly. An author, entertainer, community leader, activist or political figure qualifies. Who drives and influences you? Tag someone on your dream team below! https://www.missoulabookkeeper.com/blogarchive/socialmediamanager monthly 0.5 2023-07-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/5cfd92b2-cd37-4f84-a91b-512be83274ad/Copy+of+financial+vocabulary+%282%29.jpg Blog Archive - Dream Team: Social Media Manager The phrase “social media manager” gets thrown around a lot, and it may sound like a made up job title to describe someone who spends all day on Instagram, but a social media manager can be a really vital member of your small business dream team. First of all, let’s clarify the role of a social media manager (SMM): A SMM is in charge of managing your business’s online presence. Depending on several factors, this can cover a lot of bases. Here are just a few services a SMM may offer: Developing a cohesive tone, voice and palette for your SM presence Formulating a SM plan based on your goals Analyzing the performance of your posts and making recommendations and adjustments Creating visual and written content, or editing content you provide Scheduling the posting of content Auditing your current content and providing feedback Archiving content for later use Cross posting content on various platforms Developing a list of content ideas for long term planning This is just a general run down of services a SMM could provide for your small business, and it’s highly customizable. You can easily pick and choose to suit your budget as well as how involved you want to be in the process. Utilizing the services of a SMM even in a small way can really allow you to make maximum impact online while freeing yourself up for the other parts of running your business. Furthermore, you are much more likely to post better quality content with greater consistency when you have an accountability partner in your corner. Have you considered getting help with your social media needs? Click the link in our bio to schedule an absolutely free consultation and let’s talk about how we can help you make the most of your online presence! https://www.missoulabookkeeper.com/blogarchive/bookkeeper-accountant monthly 0.5 2023-07-27 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/115cc5f6-00d4-40e3-a123-3e71a0510b62/www.missoulabookkeeper.com.jpg Blog Archive - Dream Team: Bookkeeper and Accountant There is often confusion when it comes to bookkeeping and exactly what it means. Bookkeeping and accounting are often thought to be the same thing, and while the differences are subtle, they are significant. First of all, a bookkeeper is not an accountant. A bookkeeper is responsible for categorizing and organizing the day to day transactions of a business. We can process invoices, prepare financial statements, and make sure your chart of accounts serves your particular business most effectively. An accountant is uniquely trained to make recommendations on taxes, reporting, and financial projections. Often, it serves a small business to have BOTH an accounting professional as well as a bookkeeping professional on their dream team to make the most of the unique skill set of each. Additionally, because a bookkeepers deal with transactions on a day to day basis, they can make sure that your accountant is getting the most up to date and organized information possible, making sure you get the best advice possible come tax time. Are you interested in adding a bookkeeping professional to your dream team? Go to the link in our bio to schedule a free consultation with zero obligation. And if you are looking for an accounting professional, there’s a link in our bio with a downloadable list of professionals we trust. https://www.missoulabookkeeper.com/blogarchive/dream-team monthly 0.5 2023-06-21 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/b1dc2344-5686-4536-ac2e-531237086a38/hannah-busing-Zyx1bK9mqmA-unsplash.jpg Blog Archive - Who is on your dream team? Being a business owner comes with a lot of wonderful benefits: flexibility, working from anywhere with an internet connection, self-actualization. It also has challenges, for sure. One that is particularly hard for me is the feeling of being on my own to navigate the growth and development of this enterprise. Building my team of staff over the past few years has definitely helped to ease some of this, but I have also worked hard to develop an external dream team of experts to advise and mentor me in the areas that aren’t my strength. I highly recommend this to any business owner who is operating solo or with a small staff. Many of us get into business because we love the thing the business does, not necessarily because we are skilled at running a business. That’s where we need to rally the troops and find our team to help with the areas we lack. Here are a few people I recommend adding to your team: A CPA - I think even before a bookkeeper I have always recommended this relationship for small business owners. US tax code is very complex and there are intricacies of business ownership, personal finance and property ownership that only a trained professional can help you navigate. I don’t think you have to pay for tax filings annually, if that isn’t in your budget, but I would spring for it every 3 years or so or if you’ve had a weird year. 2020 was definitely a year when it paid off to have a CPA you could consult with and utilize to navigate the chaos. A lawyer - Not everyone needs this one, but if your profession has a level of liability or you are forming partnerships or more complex business types, it is a must. You need to make sure that your contracts are set up correctly, your business forms are all properly filed, etc. Also, as your business grows, using an employment expert to help you draft policies and handbooks can be worth its weight in gold. The up front investment may seem like a lot, but in the long run, it will save you headache and cash. A bookkeeper - (obviously ) Not everyone needs a bookkeeper when you are starting out. But as your business grows, it is important to weigh the value of your time in other areas of your business. You could spend hours each month keeping your financials up to date, but is it the best use of your time? Also, just as you are an expert in your field, we can optimize your systems and make sure everything is done correctly from the start so you have the best financial info to make decisions based on. A business coach - Again, we don’t start a business knowing it all, and we are often making key decisions all on our own. Having an expert to navigate big changes or challenges can give us perspective and ideas we may not have come to on our own. They can also help connect us with others that may benefit our business. Social media/marketing manager - For a lot of us the ins and outs of social media gets overwhelming. instagram, tik tok, facebook, youtube, what do we choose? How do we do it? What is best for my business? Is this thing on? Having an expert develop your strategy and create or assist in your content management can be a life saver. It frees you up to spend more time on the stuff you love about your business while still generating new customers and clients. Financial advisor - As your business grows and your life becomes more complex it is important that your financial situation also evolves and you need an expert to help with that. Whether it's retirement, trusts, real estate or life insurance, that jar under your bed is not your best strategy and finding someone to help is important. There are definitely others you could add to this list, but this is a great place to start. We will spend this month detailing some of these roles and how they can help you as a business owner. Who is on your team? https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/786f69c8-5672-44dc-89f7-c4d0226ef135/john-schnobrich-2FPjlAyMQTA-unsplash.jpg Blog Archive - Who is on your dream team? - Looking to add a bookkeeping, payroll or social media management professional to your dream team? Click below to schedule a free, no pressure consult: Bookkeeping and Payroll Social Media Management https://www.missoulabookkeeper.com/blogarchive/financial-disaster monthly 0.5 2023-06-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/8ebd7a76-4529-4718-9c55-2165e17dd405/Spoiler+Alert+Even+financial+professionals+worry+about+money..jpg Blog Archive - Things I learned from financial disaster. This has been an expensive week. First, I had a smallish repair that needed to be done on my 12 year old car. I’m sure you know how that went. What was originally a couple hundred bucks became 5 days in the shop. Then, my air conditioner made a noise. Strike that…it made THE noise. The noise of impending death. A noise that caused my neighbor to text me and say “hey, I was just outside and it sounds like your AC unit is about to launch itself to Mars.” Friends, I’m out just over $11,000 this week and didn’t even leave the house. It’s a good thing my kids like ramen. It’s easy to get discouraged when you are sticking to a budget and saving as much as you can and the universe seems hell-bent on bankrupting you. One step forward, two steps back. Here are some things I have been reminded of this week: This too shall pass. This week was hard, but next week will be better. Slowly but surely, things will get back to normal. No matter how tough things get, it’s not forever. You don’t have to feel bad about using your savings. I feel intense guilt about using my emergency savings, even when it’s a literal emergency. That twinge of anxiety about seeing the balance dwindle can keep me up at night, but I work hard to remind myself that I planned for a rainy day, and there’s no shame in using that umbrella. Debt isn’t a failure. I had to finance a new AC unit, and that’s okay. In fact, I don’t know many people who have that kind of money laying around. Part of me feels bad about that, but the realistic part knows there’s no money police coming to punish me for not having a spare $10K. Keep moving forward. Did I pay too much? Did I get suckered into a bigger repair than I needed? What is going to break next? The what if’s will make you unhinged. Chalk it up to a learning experience, be happy that the issues are resolved and get on with life. The ship has sailed, so let it go. It’s not lost on me that a cool house and a running vehicle makes me more fortunate than most. For now, I will thank my lucky stars for the ability to handle it and get back to saving for the next storm. https://www.missoulabookkeeper.com/blogarchive/keep-em-separated monthly 0.5 2023-06-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/7d384134-4d1d-44f5-85f0-1b59f41df7ea/Personal.jpg Blog Archive - Why You Should Keep Your Personal & Business Expenses Separate. When you have a small business, giving yourself a “paycheck” and paying personal expenses from that may seem silly to you. After all, it’s your money, why not just pull everything from the same pot and save yourself a step, right? WRONG. Turns out, there are some really solid reasons you should keep your personal expenses out of your business account. Saves hours on bookkeeping. Shuffling through those extra transactions (and your bookkeeper having to chase you down to verify what’s personal and what's business) eats up time, and time is money. Furthermore, it’s even more likely that some transactions will be miscategorized and could result in inaccurate reporting on your taxes. You may be violating the terms of your business account. Your business account has terms and conditions that prohibit you from using it to pay for personal items. Furthermore, the regulations on business cards are different, and you may forfeit some of the protections you would have if you used a personal card. If the card issuer decides you’re violating the agreement, they can close your account without warning. It’s easy to get out of control. When you aren’t keeping transactions separate, it’s easy to swipe, swipe, swipe your way beyond what you SHOULD be paying yourself. All those personal expenditures eat into your cash flow and you may find yourself short when you need extra funds for the business. Just because you may be able to get away with making personal expenditures from your business account and on your business credit card, doesn’t mean you should. Keeping everything separate will save you time, money and headaches when it comes to tax reporting, applying for loans and heaven forbid, an audit. For those of you that DON'T keep transactions separate, why? What would convince you to make that step? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/uncomfortable-conversations monthly 0.5 2023-06-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/3bf7863a-1062-4b6b-9c07-e59f6ddd6d79/Uncomfortable+Conversations.jpg Blog Archive - Uncomfortable Conversations: Wills & Life Insurance No one likes to talk about wills or life insurance & it's really easy to avoid the topic because....well, you'll be dead & no one can yell at you for not dealing with it. The bottom line is this: an uncomfortable conversation now means peace for those you love. Death of a loved one is hard enough without having to make profound financial decisions at the same time. Wills: There are several kinds of wills, but a simple will or "last will and testament" is fine for most people. If you have a business, a lot of assets, or a complicated estate, a living trust might be a better option. An estate attorney is your best resource to determine what is best for your particular situation. When preparing to meet with an attorney, you will need to determine what assets to include, decide who will get those assets, choose a guardian for your minor children if applicable & choose an executor. An executor is the person who will carry out your final wishes by distributing the assets listed, paying your debts, etc. This role can sometimes be an added burden to loved ones, so some people opt to pay a professional to serve in this role & their fee comes out of the estate. You should revisit your will from time to time. If you move, acquire assets, gain / lose family members, or have other major life changes, you should make updates. Life Insurance: A life insurance policy isn't based on a number picked out of the sky, there is a real method to the madness that is choosing the benefit that is right for you. This amount reflects not only the dollars needed to cover final expenses, but also outstanding debt and potentially the amount of your financial contribution to the care of family members. It's important to note that "financial contribution" isn't just a paycheck. For example, the loss of a stay-at-home parent would create significant child care costs. An insurance professional can guide you to the type of policy and coverage amount that is best for you. Share this post with your loved ones as an easy way to open up the conversation about end of life financial decisions & make your wishes known. https://www.missoulabookkeeper.com/blogarchive/divorce-financial-steps monthly 0.5 2023-06-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/f251fc0d-c8ef-4f53-b057-2a5f3d94a283/Financial+first+steps.jpg Blog Archive - Divorce: financial first steps It’s true that about half of marriages end in divorce, and the rate increases the more times you are married. While the social & emotional toll of divorce is significant, the financial implications are far reaching & often have a lopsided impact, particularly in heterosexual relationships. Here are a few fast facts about the financial impact of divorce: Average cost to divorce is between $15,000 and $20,000 (that’s just legal fees!) Women over 50 who divorce face a 45% drop in their standard of living, while a man's standard of living drops by 21%. About one in five women fall into poverty as a result of divorce About one in four women lose their health insurance for a period of time after divorce. The decision to divorce is complicated & very personal. If you are in a place where you are considering divorce, or are in the early stages of that process, there are some things to consider so you are as financially prepared as possible. Gather info Collect all your financial documents like bank, investment, mortgage & credit card statements. I hate to say it, but do the legwork here. Your partner may not disclose honestly. Owe & own Figure out exactly what the bottom line is for all your assets & debts. Consider what should be split, sold or closed. Note where names & beneficiaries need to be changed. It’s also smart to update PIN’s & passwords. Budget Get real about your financial needs moving forward. How will your earning ability change? What new or increased expenses like child care will you incur? Will you lose health care benefits? When creating a new budget, resist the urge to lowball the number you really need to reasonably maintain your standard of living. Do your homework / get a team This information, while helpful, is in no way a substitute for legal advice. A qualified attorney can tell you exactly what your financial rights are and be the "heavy" when it comes to establishing boundaries. We also recommend a therapist or support group so you can work through the process in a healthy way. Divorce is a heavy topic, but with the right team & a levelheaded plan, you can move forward feeling more prepared for your next chapter. https://www.missoulabookkeeper.com/blogarchive/credit-card-strategies monthly 0.5 2023-06-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/ac49e549-0186-4b7d-8aca-382f1b5a1d7c/Credit+Card+Debt.jpg Blog Archive - Credit Card Debt: Strategies for paying it off and keeping it under control Are rising prices putting you in a pinch? Maybe you had a medical bill or emergency and you didn’t have enough savings? If so, the arrival of your monthly credit card bill may cause you significant anxiety. If you aren’t paying it off monthly & the balance is creeping up, it can feel like falling into quicksand, but never fear! Here are a few strategies to get that balance paid down! Highest Interest Rate First If you have more than one card, it’s important to know what you are paying as an interest rate. Make note & allocate your largest payment to that card. Once it's paid off, go to the next highest and so on. More Than The Minimum Credit card companies are required to have a little chart on your bill that shows how long it would take to pay off the balance only making minimum payments. Refer to this & notice how much faster the process is when you pay even just a little more. Every extra dollar saves you interest. Balance Transfer Transferring balances usually has a fee (3-5%), but depending on your balance, that fee may be less than you would pay in interest by leaving it where it is. Additionally, if you have recently gotten a card, sometimes they waive the transfer fee for a period of time. Look at the fine print & make sure you can pay it off before the rate goes up. Check out our free, downloadable worksheet to collect all the important basics, like balances, interest rates & minimum payments (resources link in bio). For the complicated math, we recommend undebt.it to calculate payments, interest rates & fees. Once you have a payoff plan, it’s important to reduce your spending to prevent the balance from creeping up again. Look for spending patterns & see where you can: Use cash, not credit Cancel subscriptions Negotiate bills (Cable, cell & internet can all be negotiated) The most important thing you can do is commit to the process. With a plan & some adjustments to your spending habits, you’ll have balances wiped out in no time! What tools do you use to keep your credit card balance from getting out of control? Let us know in the comments! #smallbusiness #entreprenuer #womeninbusiness #debt #creditcarddebt #payoff #balance #spending https://www.missoulabookkeeper.com/blogarchive/get-control-of-money monthly 0.5 2023-06-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/2477bfca-6283-4b8e-b8d4-4840328089a3/4+Things+%281%29.jpg Blog Archive - Four Things You Can Do To Get Control of Your Money. Organizing your spending, budget & bills can feel enormous, so it's best to tackle it in small ways. Here are 4 things you can do to help you feel more in control of your money. Start with whatever feels manageable & ease into the rest. The goal is to take baby steps and gain confidence. Budget Overhauling your whole budget at once is intimidating & unrealistic. Start with one or two areas that you think you can adjust with minimal pain, like eating out. Once you get used to that, move to more complicated areas. For help with strategies for reducing your spending (including negotiating bills), check out the link at linktr.ee/missoulabookkeeper.com Emergency fund The “rule of thumb” says we should have 3-6 months of living expenses saved. I don’t know about you, but that feels bananas. It feels more realistic to start with a smaller goal of $500, then gradually increase it. By taking small steps you are much less likely to feel like you are failing somehow. And don’t kick yourself if you have to USE that fund along the way. That’s what it’s FOR. Work on debt Here’s the hard pill to swallow: when it comes to debt, you’re going to have to acknowledge the scary total. There's lots of complicated advice out there about paying off your debt–splitting payments up, shifting it around to different cards, and what order to pay things–but the number one, simple, no bullshit piece of advice I have is know your due date, and DON’T MISS IT. If you do nothing else to speed up the process, keep that baby current! Keep an eye out next week when we will talk about in depth strategies for tackling credit card debt! Room for fun Keep yourself on track by adding an element of fun (you don’t even have to have it all together first). Save for something you WANT. Doesn’t matter if it’s a new TV or an inflatable T-Rex suit. Save for something that makes you happy. Little steps towards taking control of your money feels GREAT and sets you up to tackle bigger, long-term financial challenges and goals. https://www.missoulabookkeeper.com/blogarchive/money-guilt monthly 0.5 2023-06-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/6b83ee69-b15d-4660-a753-49f80c69b247/Do+you+feel+weird+talking+about+money+Does+it+seem+like+everyone+is+better+off+than+you+are.jpg Blog Archive - Four Signs You Have Money Guilt. You’re chatting with friends about summer plans. One friend is taking a trip, another got a new boat. “And what about you?” they ask... If the answer is, “sitting in my yard in a plastic lawn chair & wondering where it all went wrong” you aren’t alone. Sometimes it seems like everyone is doing better financially than you. Vacations, new toys, eating out. Nicer house, nicer car, nicer life. It’s common to feel weird about discussing personal finances. You’re supposed to be on top of this stuff, right? The fact is, that it’s totally normal & even understandable that after spending so much time focusing on your business numbers, you may not have enough spoons to deal with your personal spending. Shame and embarrassment can show up a number of ways: Ignoring balances on credit cards or not checking your bank account (nearly half of our instagram followers say they do!) You may feel as if you don’t deserve the money you have, or the things you spend it on. You may lose sleep worrying about debt or how much you have saved. You may double down on unnecessary spending thinking you’re too far gone anyway. How do we move past these feelings and learn to have a healthier relationship with our financial realities? First, get over the idea of where you “should” be. There are people who will be in a better financial spot & that is fine. Your net-worth does not equal your self-worth. Also (and this should go without saying at this point), plenty of people that look like they have it all, are living far beyond their means. When you are uncomfortable with your financial situation, the best thing you can do for yourself is develop a war plan. Get real about your expenses & identify the spaces where you are overspending. Really examine the triggers to overspending. Is it poor planning, fatigue, a coping mechanism? This exercise isn’t about shaming yourself or beating yourself up. Getting honest with yourself about the cause can help you develop strategies for making better decisions. You SHOULD splurge sometimes & planning helps you splurge without guilt. Do you feel weird talking about finances? Let us know below! https://www.missoulabookkeeper.com/blogarchive/personal-finance monthly 0.5 2023-05-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/2bb57cc0-0bc6-4d67-8731-f76f957c0c9a/johannes-krupinski-_XHID3o1H5Y-unsplash.jpg Blog Archive - The only way past, is through. “Money is a more taboo subject than sex. If you don't believe me, think about this: you have friends who tell you the intimate details of their sex-lives but they would be shocked if you asked them how much money they make.” ~ Patricia King We all have complicated relationships with money. As small business owners, this can be compounded by narratives around success, expertise and where we “should” be in life. Social media can add to the sense of shame as you scroll through posts about people's latest overseas vacation, their 6-figure months and home remodels. And you certainly aren’t supposed to talk about the hard things or the financial failures. All of this can make us avoid dealing with things and allows things to spiral into a worse place as we bury our heads in the sand. As business owners, our business and personal finances are so deeply connected and if we get in the habit of avoiding the truth of our situation it can have huge consequences in both aspects of our lives. I am acutely aware of this personally. Over the past 18 months I have been dealing with some complex and overwhelming personal challenges that have come with some pretty hefty bills. Health and safety for myself and my people took top priority and I did everything I could to find the right experts to help. Which was expensive. Really expensive. I am now working on a plan to dig out of the resulting, small mountain of debt and the urge to pretend it away is STRONG. As if by doing that, it will just disappear on its own. I wake up with a tiny panic attack on the regular. I had a little “stress will make you sick” talk with my provider. And I realized that the only way past, is through. I’ve set my goals for the year with clear intentions around paying off debt and saving emergency funds. I’ve shared age-appropriate info with my kids so that we are all on the same page about how this year will look for adventures and purchases. I’ve talked with my financial advisor about what long-term changes could look like and how to get there. My internal shame monsters have fought me all of the way and I have had to find my tribe to coax me through things now and then. This month, we are going to tackle topics around your personal finances and how to get yourself in a better space and set yourself up for the future. We don’t just want to see you succeed in your business, but we want to see you succeed in all areas of your life. Hopefully you can use the transforming energy of spring to tackle some of these topics with us and come out the other side with a better financial foundation for the remainder of 2023 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/feef9f92-af26-463b-b400-cb47166ea828/flat%2C750x%2C075%2Cf-pad%2C750x1000%2Cf8f8f8.jpg Blog Archive - The only way past, is through. - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.missoulabookkeeper.com/blogarchive/toxic-client monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/4aa1d0fd-b286-48af-be06-292aa94fd733/Add+a+subheading+%281%29.jpg Blog Archive - It’s not you, it’s me. Breaking up is hard to do, but a toxic date is so much easier to kick to the curb than a toxic client. How do we know if a client is actually toxic and not just difficult? Let’s start with some habits that indicate you have a bad apple in the bunch: ? ’ /? !!--Toxic clients expect an immediate response, regardless of the hour or they have unrealistic expectations about the turnaround time. Additionally, any client that has to be constantly reminded to hold up their end of the agreement (by paying their bill on time, or providing the necessary information or materials) isn’t a good fit. ’ ?–Occasionally, a client will ask for something that's outside the scope of your agreement, but typically they understand & respect boundaries when you point them out. If your client is constantly and repeatedly asking for things they know are unreasonable, that’s a red flag. ?–Clearly, anyone who is verbally abusive or threatening is an automatic no. Additionally, anyone who is (and this is a scientific term) a hot steaming turd of a human, who mentally & emotionally exhausts you should be shown the door without hesitation. So, now that we have identified who needs to go, how should you handle the “breakup”? First, check your contract if you have one. Make sure you are fulfilling all of your obligations–it never hurts to check with your attorney to make sure everything is done right. Second, finish all the work you owe them so you can say goodbye with a clean slate. Last, practice what you will say. Keep it simple, & stick to your guns. Something along the lines of, “I appreciate our working relationship, but I no longer think we are a good fit. I wish you the best of luck in the future” is short, sweet & to the point. Have you ever had to “fire” a client? How did you handle it, and what would you do differently? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/signs-its-time-to-waitlist monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/841b1d0d-b349-4715-8737-4d37a771e229/Signs+it%27s+time+to+start+a+waitlist..jpg Blog Archive - Signs it’s time to start a waitlist (and how to do it without crying). You have done a lot of hard work building your business & developing a loyal customer base, so the day might come when you find that you are struggling to keep up with demand. Your first instinct may be to power through & just keep pushing, but there is a point when it’s really important to take a beat and start waitlisting clients. It may be time to consider a waitlist if: It’s the busy time of the year for your industry (lookin’ at you, tax season) & you need space to get your current clients set up for success. You need time to hire & train more employees. Your processes, equipment, software or skills need refining or upgrading. You are getting burned out & find yourself struggling to meet deadlines. You just need some time to recharge & take care of yourself. If you decide that starting a new client waitlist would give you the boost you need to serve your clients better, keep these things in mind to make the process as seamless as you can: Communicate. As it is in so many areas of life, communication will make or break your success. Be clear about why there is a waitlist & how long you expect to be holding off on taking new clients. Be realistic with timelines & stay in touch during the process so your prospects don’t feel like they’ve been put on a shelf. Create calendar alerts to remind you to reach out periodically. Organize. A simple form on your website will automatically create a list of prospects for you. If you don’t have a website, or if you gather prospects in another way, you can just create your own spreadsheet. Don’t forget to ask for their email address so you can keep them in the loop with timeline updates & interim resources. You may also include a column to prioritize the order based on the size / type of services they are looking for. Waitlisting clients is a little bit of an unnerving thought, but it really is vital if you want to maintain consistent service to your existing clients & encourage healthy growth. It feels risky, but that risk is far better than taking on clients that you can’t serve to the best of your ability. #entrepreneur #smallbusiness #advice #waitlist #client #success https://www.missoulabookkeeper.com/blogarchive/ideal-client monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/3c92e6ef-5592-4045-bb72-4f06012b9931/Copy+of+financial+vocabulary.jpg Blog Archive - MARKETING MONDAY: What does “ideal client” mean? So, your ideal client is any client that wants to give you money, right? Actually, notsomuch. While any business is good business, there are certainly ideal clients that will make up the target audience of your marketing efforts and bring the consistent income and referrals you need to succeed. To determine who your ideal client is, let's back up just a little bit and talk about values. At the heart of your business is your mission. Your reason for being. The things that really matter to you beyond dollars and cents. Perhaps it's the environment, gender equality or the betterment of your community. These are the core ideals you consider when you decide what products and services to offer, what groups you donate time and money to and perhaps even more importantly--what you DO NOT choose to invest in. Your ideal client is someone who holds these ideals near and dear as well. Your products, your message will resonate loud and clear with these individuals. When crafting your message for social media or other marketing efforts, think about your core values and say it proudly and with your whole chest. Anyone who isn't in line with your values will do business elsewhere, and you know what? THAT IS OKAY. Because you will find greater and more fulfilling success serving people who think like you do. You aren't for everyone, and that is your superpower. Do you want to have a more authentic and cohesive social media presence and you aren't sure where to start? We can help with that! Visit linktr.ee/missoulabookkeeper to schedule a FREE social media management consult! https://www.missoulabookkeeper.com/blogarchive/raising-prices monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/5e0c0efa-f6e4-4123-a983-e00d43128a61/cold%2C+smooth+%26+tasty.+%281%29.jpg Blog Archive - How to raise prices (without alienating clients). The cost of EVERYTHING is climbing & the thought of raising prices makes everyone nervous. Costs have gone up & value of what we provide has increased, but we struggle to charge what we're worth. So, how do you raise prices in a way that doesn't alienate customers? 1. What are your actual costs? This includes materials, time for production / delivery, but should also aggregate in your overall costs for keeping the doors open & the lights on. Then you can start to determine what your price per hour or project should be. If your costs are increasing short term, you might opt for a temporary increase. 2. Your business has its own "seasons" or cycles that should inform your timing. Maybe when you launch a new product line, pricing increases. Or perhaps you re-assess pricing at the start of each financial year (which may not be in line with the calendar year). Or maybe you start mid-year with increased pricing for new customers & bring older customers on board later in the year in a more gradual fashion. You can also increase prices for most of your clients in a blanket fashion & offer a stepped increase for your best or biggest clients. 3. Nobody will be happy to see a a bigger bill, so prime your customers as much as possible. For bigger increases, send an email out 60 days in advance with the new pricing. If you are able, start pricing new clients at the new rate as early as possible--even months ahead. I would also remind customers of the increase a few weeks before their new invoice or autopay charge goes into effect. More importantly, make sure you indicate why the prices are going up. Are you offering more service? Have your costs increased? How has your business grown & changed since they came on board? And finally, make sure your customers know how much you appreciate them & their business & be open to their feedback or even complaints. Your customers work with you because you meet an important need. If you continue to deliver quality service, they will probably not even think twice about paying the increased prices. They knew you were worth it before you did! https://www.missoulabookkeeper.com/blogarchive/navigating-the-client-relationship monthly 0.5 2023-04-20 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/55728606-11fa-4ff6-8baf-bd33d9bdf6b6/charlesdeluvio-AT5vuPoi8vc-unsplash.jpg Blog Archive - Navigating the Client Relationship “All of your customers are partners in your mission” —Shep Hyken https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/97beba94-ef83-4d92-a894-58f1e796f79b/womanizer-toys-8oB43mw658c-unsplash+%281%29.jpg Blog Archive - Navigating the Client Relationship I don’t know about you all, but I am so happy to see more sunshine and daylight as we take two steps forward and one step back into spring and out of the longest winter ever. Here at Missoula Bookkeeper we are making some changes and doing some “spring cleaning” that you will hear more about in the upcoming weeks. One change is an upgrade to some of our client facing systems and communication. When I was a business of one, with a fraction of the current clients, keeping things organized, communicating with clients and managing workflows was a much simpler process. Now with my amazing team and cadre of new clients there is more complexity and I haven’t done the best job of shifting our systems to keep up. Here are a few things that we will be up to in the next month: Shifting to a new phone system to help keep track of communications and delegate follow up more easily Continuing to maximize the features in our Keeper Client Portals to make sure you have access to your reports and any other information that you need Launching a podcast to offer our tips and tricks for business owners so you can make 2023 the best financial year yet in your business All of these new systems are created in the hopes that your experience as clients will be better. Client management is a tricky job for any business owner. You want to be helpful and accommodating, but not so much that you lose your work life balance or your sanity. You need clients to keep you in business, but you really need the right clients and not just any warm body. This month we are going to cover a range of topics around how we find and work with clients. Topics will include: How to market to find the right clients for you How to manage your client intake and on-boarding process and your customer journey, to convert prospects into long term clients How to set boundaries around your time for client communication and accessibility How to know when it's time to let a client go and how to make a clean break How to manage off-boarding clients whether you are down sizing or they are headed somewhere else How to get paid effectively and quickly How to deal with problem clients How to decide when you need help to manage your growing client base It’s been such a blast helping and watching each of your businesses and organizations grow and shift over the past few years. I am excited to continue to grow with you. Happy Spring everyone! https://www.missoulabookkeeper.com/blogarchive/bod-financial-role monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/2343a85c-a8c5-416b-87d9-cf4c63dd657b/Copy+of+SERVICE+BASED+BUSINESS.jpg Blog Archive - The Financial Role of Your Board of Directors We often coach our non-profit clients how to effectively use the board of directors in financial matters. Many times, without proper guidelines, a BOD can get into the weeds & make the organization less effective as a whole. For non-profits, the BOD functions as a governing body to oversee the organization's strategy & accountability. The employees & managers deal with the daily operations & report to the BOD. When it comes to money matters, there is often confusion about where those responsibilities fall. The non-profit board should have a big-picture approach, and a system of checks & balances to protect the against mismanagement or fraud. Here are some examples of financial responsibilities of the BOD: Assist the ED with the development of the budget as needed Final budget approval Review financial documents quarterly Address cash flow issues Watch for signs of mismanagement of funds General financial “steering” of the non-profit Often there is a subcommittee dedicated to finance, but smaller organizations may leave it to the general BOD. A well rounded board / financial committee should have members with financial expertise & can include: An accountant or bookkeeper A local banker If the organization has endowments or investments, a financial manager with non-profit experience A representative of the specific economic population you serve, if applicable A few other tips for success: Apart from the ED (who should be involved in all board meetings) the members should be independent–they are not a part of management / staff & they don’t have other ties to the organization. There should be clear job descriptions for all positions, including where the BOD & staff responsibilities intersect. Overall, your BOD should be an asset in furthering the mission and effectiveness of the organization. A diverse team of people dedicated to the goals of the organization is vital to the success of your mission. What do YOU do to make sure your non-profit board is successful? What tools do you use to make sure everyone knows their role? Comment below! https://www.missoulabookkeeper.com/blogarchive/serving-on-nonprofit-board monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/8c14da5a-6cf0-42cf-808d-179432d49f02/We+get+that+all+the+time%21+%282%29.jpg Blog Archive - How do I serve on the board of a non-profit? Interested in serving on the board for a non-profit? Here is how to get started: 1. Make a short list of organizations you are interested in. There are several online databases to help you find one in your area and you can narrow down by interests. 2. Research each organization to determine if they are a good fit based on their goals, ideals, etc. 3. Contact the organization and let them know you are interested in being on the board. They will let you know if they have availability, and if they require any kind of special training, like volunteering for a period of time first. You will likely have to go through some kind of interview process. 4.Learn about the obligations involved. Meeting schedule, time commitment, term length With a little bit of research and a whole lot of communication, you can play a vital role in the success of a worthy non-profit in your community. Would you commit your time to serving on a board? Give us a in the comments! https://www.missoulabookkeeper.com/blogarchive/pricing-for-your-time monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/51cf1c96-3063-4b92-9784-dc2359511d80/SERVICE+BASED+BUSINESS+%282%29.jpg Blog Archive - Pricing for Your Time: Get Past the Guilt Service based businesses have a unique pricing problem. While it’s relatively straightforward to determine the actual cost of some aspects of your business (supplies, equipment, rent, travel, etc), it seems that TIME is the variable most struggle with. If you feel guilt around setting prices for your time, you definitely aren’t alone. Most people feel guilt and shame around pricing for their time because they don’t feel qualified as an “expert” or they don’t appreciate the value of their own skills. Unfortunately, guilt doesn’t pay the bills, so here are a few things to think about when you start to feel bad about charging for your time: It’s not the 10 minutes it takes you to do the task, it's the time you have spent developing the skills and expertise that allows you to do the task in 10 minutes. You can never get your time back.The hours you spend serving your client = a little bit of your one, precious life. That time is your most valuable commodity. When you hedge on your prices because you think someone will be offended by the number, you are placing their feelings above your goals. If you don’t respect your worth, it is unlikely that other people will. Studies show clients perceive that higher prices mean higher value. There will be people who don’t agree with your prices, and those are not your people. The clients that really add value to your business and are in line with your goals will see what you bring to the table and will happily pay you what you are worth. Don’t be afraid to charge what you deserve and build a business and a life you love. Share if you have ever felt guilt about charging for your time. If you have a strategy that has helped you get past it, drop it in the comments. https://www.missoulabookkeeper.com/blogarchive/business-type monthly 0.5 2023-03-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/e831a83f-7078-4d64-9aa2-558948a10684/yasamine-june-wh9Cbrl9yGY-unsplash.jpg Blog Archive - Things to consider based on your business type. When I first started my business I didn't really understand the nuances of business finances. I made the mistake of assuming it would be pretty much the same for everybody. But over time working with almost a hundred different clients, both for-profit and non-profit we've come to realize that different types of businesses have different needs in their business finances and their bookkeeping. There's different considerations, different ways of setting things up, and different outcomes that they're working towards. Over the next month we're going to spend some time talking about things that different business types need to be looking at in their business finances and bookkeeping and how you can customize your own books to meet your needs. Here are just a few examples of what we're going to be looking at. Retail/Wholesale businesses: You often have a lot more overhead than service-based businesses. This means you need to think about cash flow in different ways. Inventory can affect your cash flow and your taxes and so you need to understand how that works in order to make good choices With supply chain issues in the last few years, you also need to take into consideration where you're getting materials from and potentially having backups for some of those vendors Professional service businesses: Pricing can be a huge issue especially when you first start out. Understanding what your costs are and how to value your time and expertise will set you up well You also need to think about your agreements in regards to scope of work with clients and scope of work with your subcontractors. It’s important to find a balance between making sure everyone is getting value while not being taken advantage of. Non-profit corporations: You often have much more detailed needs around income and expenses and setting your chart of accounts up well for this will save you so much headache later. Grant management and tracking is also a huge issue. Making sure that you have systems in place before you need them makes a huge difference. Non-profit board members are often uncertain what their actual role is around the organizational finances. Having a clear board job description and committee overviews will help people to understand how board members and staff members work together. As we go through this month, hopefully you will glean a few gems that you can take back to your own businesses or organizations to make your finances better and more manageable. As the days get longer and the sunshine starts to peek out a little more often here in Missoula, it's a good time to start thinking about new beginnings and starting off on the right foot. Happy spring everyone! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/78f71d90-c2bf-4d83-b6a7-c57d59430361/amol-tyagi-UZFCQPNc4bs-unsplash.jpg Blog Archive - Things to consider based on your business type. - Ever wonder what happens if you don’t file your taxes? Everyone would probably guess that you would be subject to fines, penalties and back taxes. But did you know that if you continue to ignore the problem, that the IRS can levy the assets of businesses? If you fail to pay on time or pay in full, the IRS may seize company equipment, cars and even your business property itself. Still looking for a tax professional? Go here to find a list of people we trust. https://www.missoulabookkeeper.com/blogarchive/financial-abuse monthly 0.5 2023-03-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/5cf3f1ea-50db-43cd-8403-0194181d9e78/Financial+Abuse.jpg Blog Archive - Financial Abuse: What it looks like and how to find your way out. - It can start out very subtly: you are stressed about money and you hate juggling the bills. Your partner offers to step in and manage the funds to alleviate the stress. Gradually, you have less and less access to funds and financial information. Maybe you have to start asking permission for every purchase, or you’re given an “allowance” that inexplicably becomes smaller and smaller over time. Ninety-eight percent of abusive relationships involve financial abuse, and nearly 80% of victims cite financial instability as the biggest reason they stay in or return to abusive relationships. Despite these facts, most people don't recognize financial manipulation as abuse. Here are some of the signs you may be a victim of financial abuse: Manipulating you with money Forcing you into debt through coercion or omission Gives you an allowance or budget without your input Forces you to account for every penny spent Threatens to cut you off Limits your access to joint funds and financial information Intentionally tanks your credit score Interferes with your ability to earn money, by sabotaging your employment or otherwise disrupting efforts to develop job skills and training opportunities. Maxes out credit cards in your name and defaults the payments If you or someone you care about is a victim of financial abuse, there are steps to take to see your way out. First, pull your credit report and look for transitions you don’t recognize and set up alerts to notify you in case there is unauthorized activity. Abuse in any form is NEVER acceptable! Call 911 immediately if physical abuse is happening or about to happen. Otherwise, call the National Domestic Violence Hotlines at 800-797233 or go to thehotline.org. All communication is anonymous and confidential and they are open 24/7/365. You can also contact the National Network to End Domestic Violence (NNEDV) website at womenslaw.org. All these resources are linked at linktr.ee/missoulabookkeeper https://www.missoulabookkeeper.com/blogarchive/friends-and-family-discount monthly 0.5 2023-03-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/09aaaa08-e990-42af-9cd0-be40b8caa473/Hey%2C+buddy.+How+about+a+discount.jpg Blog Archive - Friends and Family Discount: Yes or No? (And how to navigate it, either way) Three things are certain: death, taxes, and someone's going to ask for a discount. Your inner circle includes your favorite people and it’s absolutely understandable that you may want to throw them a bone. But should you? Here are two perspectives & how to navigate the road you choose: NOPE. The people who support you, want you to succeed & should be willing to pay full price. Asking for a discount is taking money out of your pocket that you could be earning from regular clients. Cutting your price says that you don’t believe that you deserve what you are charging & that other people get to decide what you are worth. Stand your ground. If all else fails, ask them if they’d like to pay you 15% EXTRA just to “help you out”. No? Didn’t think so. Remember that it’s easier to never offer a discount than to take it back when it gets to be too much. Here is how to do it: “Thank you so much for thinking of me to do this work, but I have made it a policy to not offer discounts. I have put a lot of consideration into my pricing to make sure it is fair to both of us, and I’m confident that my work is worth the price.” YEP! Money is money. If you are just starting out, or not at “full capacity” friends & family are a great way to build a customer base & ease into pricing. Set super clear guidelines about limitations on who gets it & when. Or your best friends-sisters-cousins-3rd grade boyfriend will definitely show up looking for the same deal. Here is how to do it: 10-15% is a very nice discount that isn't a big hit to you. You might set aside a particular day (maybe once per quarter) for “friends and family” work / discounts so you aren’t taking prime days away from full price clients. Be sure to make note of these discounts, so you can pump the brakes if it’s getting out of hand. There’s not a right or wrong answer here. At the end of the day, you’re the boss, and you have to do what feels right to you and works for your bottom line. What do YOU think? Drop a in the comments if you think you SHOULD give a family and friends discount and a if you think you SHOULD NOT. https://www.missoulabookkeeper.com/blogarchive/romance-and-money monthly 0.5 2023-03-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/17f1e3d2-3eb4-42aa-a6da-544c7aba6bab/Romance+and+Money.jpg Blog Archive - Romance and Money: Questions you need to ask your partner. I can’t think of many topics that are less romantic than money. It’s not fun or sexy to talk about dollars and cents with your significant other, but it’s a really important topic if you want to last for the long haul. To avoid being one of the many couples that break up over money, here are a few questions you should ask each other to make sure you are on the same financial footing: ?– Talk about budget, saving habits, and current debt (yes, ALL of the debts). ?–How have you prepared for loss of income, car repairs, medical emergency? Would you need to go into debt to cover your expenses? ?--Talk about it before resentment grows for always being the one to pay, or before you agree to a big trip when you’re excited and not thinking rationally. , ?--Everything down the middle? Split expenses by percent of income? Maybe some combination of the two? If one person is moving into a home that is owned by the other, do they pay rent? If you break up, how do you divide things equitably? ?-- Do you want to purchase property? Start a business? Will you need to care for your parents or another family member? While it would be ideal if you and your partner had exactly the same thoughts on all of these questions, you can still be in love and have different opinions. What is most important is understanding each other’s point of view and laying out expectations. By avoiding surprises, you can take a lot of the pain out of joint financial decisions and save yourself from being a casualty of money conflicts. What money topic do YOU think is especially important for couples? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/retirement monthly 0.5 2023-03-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/890d0774-e128-4b00-801b-9cc33342f8c7/Retirement.jpg Blog Archive - Retirement: How much do you really need for your golden years? There’s a joke that goes something like this: “I’m Gen X, my retirement plan is to just die”. Unfortunately, it’s only barely a joke– the majority of Gen X'ers estimate that they will need to save $1 million for retirement, but on average only have about $70K So how much SHOULD you save for retirement? There are a few different ways to get a target number, and that number is going to feel like a lot. Try not to get discouraged if you aren’t on the road to achieving that number yet. Knowledge is power, right? So let’s just get an idea of what kind of savings we are looking at and then come up with a plan to get there. 25 Times Rule: Starting simple, the 25x rule. You take what you think you will need annually to live in retirement, and then multiply that by 25. So, if you think you’ll need $80,000 a year, that’s 2 million in retirement savings. The 4% Rule: This rule says that you should be able to comfortably live on 4% of your retirement savings per year. If you have one million put away, that’s $40K a year. The 80% Rule: When you retire, you will likely have slightly reduced expenses–like no longer having to save for retirement, and work related expenses–and that’s where the 80% rule applies. This assumes you will need approximately 80% of your current income per year. Keep in mind that you may have special circumstances that means you may need more or less, and you have to account for inflation, so be sure to check with a financial advisor to help you nail down a figure that is appropriate for your situation, and to develop a plan to make that money grow! Don’t have one? Go here https://www.missoulabookkeeper.com/resources for a downloadable list of financial professionals we trust. On a scale of 1-10, how prepared are YOU for your golden years? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/kids-and-money monthly 0.5 2023-03-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/9dd64ddd-5051-4b33-8501-3878f924c561/money.jpg Blog Archive - Teaching Your Kids About Money. Your parents probably didn't talk to you about money. Studies show that many parents don’t talk to their kids about finances because of stress & shame around the topic. While it’s totally understandable that you don’t want your kids to carry that same shame, you’re doing them a disservice if you don’t teach them to manage their finances. Here are some tips to help teach your kids money management: Use actual cash. We don’t use “real” money nearly as much as we used to. It’s so easy to swipe your card and be on your way. Help younger kids learn the concept of money by paying with cash or play “store” at home. Comparison shopping. As kids get a little older, involve them in shopping for the family. Teach them to compare brand name vs. generic, price per ounce and to use coupons. Show them that just because something is on sale, doesn’t always mean it’s a better value. Give them the responsibility of money. Let them use their allowance / birthday money to buy things they want. Help them compare and make decisions. The really hard part is–let them make mistakes. Let them learn that they should have passed on that toy and not to spend it all at once. These are lessons that are much less painful now than later. Be transparent. Let them see the real cost of things like utilities, insurance & taxes. These “hidden” costs of adulthood kinda sneak up on ya, so prepare them for expenses they don’t think about. Watch your language. Hearing ”we can’t afford that” can send an anxious kid off the deep end. Be real, but not to the point where kids are worried about the stability of the household. Try a positive spin, like “that isn’t our priority” or “we are focusing our resources elsewhere”. Track it. Set them up to track their spending. Start with a little notebook / register & move to a more complex spreadsheet or app as they get older. It’s so empowering to see exactly where your money goes so you can figure out where to cut back if circumstances change or you’d like to save more. What lessons do you wish you had learned about money growing up? What strategies do you use with your own kids? Drop them in the comments! https://www.missoulabookkeeper.com/blogarchive/financial-considerations-in-relationships monthly 0.5 2023-02-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/dfaae363-1cdf-4496-95f6-b9af75415c51/andre-taissin-Dc2SRspMak4-unsplash.jpg Blog Archive - Financial Considerations in Relationships (and not just the romantic ones) - FAST FACTS ABOUT MONEY AND RELATIONSHIPS: 59% of Americans say love is a priority over money 37% say they would give up whatever amount of money it takes to guarantee them a great romantic relationship for the rest of their life 74% of Americans say that money gives them more stress than love. 31% of parents aren’t having any discussions about money management with their kids Studies show that kids as young as 3 are able to grasp basic concepts about money https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/da3ba54e-ff6a-47e3-ae4b-84862cced739/towfiqu-barbhuiya-Cv1IZqKJQzU-unsplash.jpg Blog Archive - Financial Considerations in Relationships (and not just the romantic ones) - ATTENTION: S-Corp Status Business Owners Are you an S-Corp? Don’t forget that your filing deadline is MARCH 15. That’s a short 30 days away! If you file for an extension, you will have until September 15. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/703cce1b-3870-4880-82dd-ff90af32dfec/some-tale-eiANLw5neAM-unsplash.jpg Blog Archive - Financial Considerations in Relationships (and not just the romantic ones) Money can be a complicated thing for many of us. Studies show that nearly a quarter of couples break up over money. But it’s not just romantic relationships that fall victim to financial stress. Your friendships and parent / child relationships can all thrive or suffer based on a few money decisions. As business owners, both money and relationships are constantly affected by our choices. This month we are going to talk about how to use this power for good. We will look at ways to set ourselves up both business-wise and personally to use our money well to take care of the people we love. We will also talk about how to bring those people along in our journey through conversations and planning. Here are a few things we plan to cover: Talking to your kids about money. This isn’t always an easy topic and many of us didn’t have good modeling for this. We will discuss how to do it well and help them start out with a good foundation of healthy attitudes and habits. On that note, we’ll talk about bringing your kids into your business as employees. Many of us have family pitching in to make things run. In certain circumstances, it makes sense to put your kids on the payroll and even set up an IRA for them. Setting up your own retirement. This is one thing that gets sidelined when we go from being a W2 employee in someone else’s business to running our own. When your cash flow levels, it's time to start saving again, but how much should you be putting aside? Another place to save is a Health Savings Account or HSA. If you have a qualifying health care plan, which many of us using the marketplace, you could use this tool to pay for medical care and score some tax savings at the end of the year. Do you offer a friends and family discount? We’ll talk about the pros and cons and how to set it up so resentment doesn’t creep into those transactions. Join us this month as we explore some topics that can help you use the dynamic of love and money to make your world a happier and healthier place. https://www.missoulabookkeeper.com/blogarchive/goal-setting monthly 0.5 2023-03-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/149658c7-5e82-41f2-b9be-f6fe21f213e9/Goal+Setting.jpg Blog Archive - Goal Setting: Making the process easier for real results. Goal setting is a great way to plan for the future & set yourself up for growth. But it’s so easy to get overwhelmed with implementing a plan that we give up. Here are some bite sized steps to make the process easier: : personal, professional, financial & well-being. This encourages healthy balance & you will find you have more bandwidth to work on more than one goal without burnout. . Anything is fair game: outrageous, huge, tiny, long-term, short-term, easy or difficult. You don’t have to know exactly how to accomplish it at this point, just put pen to paper. . If you are like me, you want to do things exactly right or you feel like you failed (letting go of that idea is on my goal list, by the way). Pick the smallest goal on your list & tackle it. Build momentum & confidence with small successes. . “Save more money” is a great aspiration, but putting a number on it helps you know when you have actually reached it & allows you to set the bar higher next time. “Save $5000 over the next 12 months” is much more helpful. . As things change, so should your goals. If you realize that your measurements aren’t reasonable, or what you are working towards doesn’t actually help you in a meaningful way, then eliminate and adjust. "A goal is not always meant to be reached; it often serves simply as something to aim at." Need some help getting started? Here are some past and current goals we have set for ourselves to get you thinking: Personal- Throw away, sell or donate one bag of items a week Spend 10 minutes a day on any organization / declutter project Professional- Refresh website photos and layout Implement password manager Financial- Increase emergency savings by X amount Raise credit score X points in one year Well-being- Read one book a month Schedule a regular social activity What is one goal you have for yourself this year? Big or small, drop it in the comments! https://www.missoulabookkeeper.com/blogarchive/credit-reports monthly 0.5 2023-03-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/fa4babcb-5dd2-4179-a353-d46533e446c6/Fast+Facts+about+Credit+Scores+and+Reports.jpg Blog Archive - Fast Facts About Credit Scores and Reports. Everyone knows you should be all adulty and check your credit report periodically. And if you've ever bought a house or a car, you know that piece of paper and the score attached is a big deal when it comes to getting a good interest rate. But what the heck is it, really? How do they figure out what your score is, and how can you make it better? Here are some fast facts about credit scores and reports: A credit report is a full history of your credit activity including balances, payment history, current and former names, employers and who has requested your credit information Your credit report is used to calculate your credit score. That score is a measure of your creditworthiness. It’s not a measure of how much debt you have, but rather how well you have managed debt. Scores range from 300 to 850, and there are two methods for calculation: FICO and Vantage The average score in the U.S. is 716 Minnesota has the highest average score at 724. You don't have ONE credit score. Your score will vary depending on what bureau is reporting and what scoring method they use Three biggest credit bureaus: Equifax, Experian, Transunion Score is based on 5 factors: Payment history Amount owed Length of credit history Credit mix New credit How to make it better: Pay on time Low balance on credit cards Mix of loans and cards Older / longer credit history Minimal inquiries for new credit Get a free credit report at annualcreditreport.com (currently, federal law is allowing for a free weekly report due to COVID) If you find an error on your credit report, you should contact the bureau that produced the report (Equifax, Experian, Transunion) either online or by mail. Staying on top of your credit report is a great way to be prepared when the day comes that you are looking to purchase a vehicle, property, new equipment or get credit for a new venture. Drop a in the comments if you have checked your credit report in the last year! https://www.missoulabookkeeper.com/blogarchive/being-more-engaged monthly 0.5 2023-02-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/07037323-c37c-4652-a9f7-2c32e6e2bc55/%40missoulabookkeeper.jpg Blog Archive - Becoming more engaged with yourself, your team and your community. Whatever it is, the way you tell your story online can make all the difference.Cleaning up and starting the year fresh goes far beyond financials. You can’t pour from an empty cup, as they say, so it’s important to take time to set a foundation for positive habits going forward. Recently, I sent an email to our remarkable client, Rachel Gooen and I quickly got an out-of-office notification in response. She is a role model for healthy growth, so she was taking some time away to focus on ways to serve her clients better. Her email ended poignantly: “The question I leave you with is......what can you do in 2023 to be more engaged with yourself, your team, and your community?” Great question, Rachel! Here is what we came up with: SELF Take time for things you love. Maybe it’s a new hobby, or picking back up with an old one you set aside. Read, write, spend time outdoors, nurture your friendships. Make it a priority to try something new. Stop saying “oh! I’ve always wanted to try that” and actually make it happen. TEAM Get to know your team and find out what drives them. What are their goals–not just professional goals, but personal ones. What can you do to help support their growth and make them feel valued? COMMUNITY Get involved with a cause you care about. Become a mentor. Develop a network of inspiring people and lean on each other for support and resources. Give local, shop local and attend local festivals and events. Give blood, donate to the local food bank. Check on your neighbors physical and mental well being. Rachel has an amazing course called “The Engaged Leader". Learn how to succeed as an engaged leader and make your work more fulfilling. Join other people in leadership positions and dedicate time to your own professional development. Follow the link below to sign up today! As a bonus, Rachel has generously offered a 10% discount to Missoula Bookkeeper clients! https://www.rachelgooen.com/engaged-leaders What are YOU doing to be more engaged this year? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/starting-fresh monthly 0.5 2023-01-18 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/6a0de082-db3a-4ba3-9bd9-44d32e10e40d/annie-spratt-OQj0chxpZOI-unsplash.jpg Blog Archive - Tuck in or Clear Out: Starting Fresh in 2023 January in Missoula is gray and cold and we’re all starting to get a little over winter. The sun doesn’t show up very often and even when it does, the days are short. I am constantly pulled between tucking in with a good book or some Netflix under a big blanket for 4 weeks and going through every nook and cranny and getting rid of all of the crap I don’t want filling my life anymore. Tuck in or clear out. This year, I’ve decided to embrace both. I am tucking in and not feeling guilt. I am leaning into rest, yoga, good food, relationships and community. Taking care of myself the way that I take care of the people around me. And at the same time, I am getting rid of the things that no longer serve me. Pan that hasn’t left my cabinet in 5 years? Gone. Torn up comforter that still works but is pretty embarrassing to show off to the world? Replaced with a FB Market find that makes me feel happy about making the bed. Toys my kids haven’t looked at for 2 years? Donated to people who will use them and love them. I’m done holding things “just in case” and I am actively investing time and a few dollars in things that make me happy. This is spilling over into my business as well. Here’s a few ways I am freshening up my business and finances and tucking into the good things that I want to carry forward in 2023: Cleaning out what doesn’t serve me any more. This is showing up in so many ways. Taking care of the basics of financial clean up. Shredding old files, updating passwords, cleaning up documents. Not sure what needs to be done? Check out this post (https://www.missoulabookkeeper.com/blog/sprucing-up-your-financial-life) from last year. Letting go of clients that are not your ideal client. I get that we are not all in the place to be choosy, but how much energy is that problem client taking from your efforts to replace them? Needy yet unresponsive? Stingy but demanding? Time-sucking goblins but so unfulfilling? Cut. Those. Assholes. Off. Make space for clients who will appreciate you and allow you to do your best work. Creating or cleaning up my systems. In the last 2 years we have quadrupled our business, adding employees, some big clients and new services. And it's a little messy behind the curtain because our systems haven’t always grown on pace. In the first half of 2023, Missoula Bookkeeper is systemizing things more, making your experience as a client better and our lives easier. Indulging in things that make me happy. This is not my default so it is taking a lot of intentionality. And your happiness may be very different from mine, but you should invest in it. Reading fiction books. This may seem so simple, but I have exclusively read non-fiction for several years because it felt more “productive”. It's ok to not always be “on” and I am trying to enjoy doing something I love with no other intrinsic value. We all need a break from productivity. Moving my body and spending time socially several times a week. I work at home and this is our craziest time of year. I can go several days and never leave the house if I’m not careful. But that makes me a shitty parent and person. I need to move my body. I need to have good conversations, listen to music, eat food in community. Those things make me a better mother, bookkeeper, human. Making my space warm and inviting. Filling my walls with art. Finishing half-done projects in my house. Burning some incense. Getting a cat!! I love my home but I have also neglected it in the last year because of other priorities. I work here, live here, entertain here. I want it to be the space I need it to be. This month, we will be highlighting more ways to clean up for financial and organizational life. Know that we are not dialed in all of these areas, but we are learning, growing and changing with you. Let’s focus on progress and not perfection. The last few years have been long and hard for many of us. I hope that 2023 brings you a slower pace, less chaos and more community! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/df3fdf66-67a7-454b-9aab-72e7ff5c1dde/Untitled+design+%284%29.jpg Blog Archive - Tuck in or Clear Out: Starting Fresh in 2023 - For your consideration… Last year, we did a piece about my beloved “Go Binder” (as in, “if the house is ever on fire, please grab the yellow binder as you go!”) and it really seemed to resonate. So, by popular demand, here is the link to a little story about how I got my shit together, and a spreadsheet link so you can get yours together too. https://www.missoulabookkeeper.com/blog/gobinder https://www.missoulabookkeeper.com/resources https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/3e24a8e4-c087-4ff2-8714-f4fffa8cd966/mediocre-studio-1Gvog1VdtDA-unsplash.jpg Blog Archive - Tuck in or Clear Out: Starting Fresh in 2023 - Let’s start with some easy stuff, shall we? When it comes to clearing out clutter, your mailbox and phone are the easiest places to start. With a couple of clicks, you can get rid of unsolicited junk mail, credit card offers and cold calls. Opt out of Credit Card Offers https://www.optoutprescreen.com/ Opt out of Junk Mail: http://DMAchoice.org Do Not Call Registry: https://www.donotcall.gov/ https://www.missoulabookkeeper.com/blogarchive/five-things-you-can-do-this-week monthly 0.5 2023-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/3a34d81e-b052-4ddd-a484-35be9573f8cd/Start+the+year+off+right.jpg Blog Archive - Five things you can do this week to make your whole year easier. We are a couple of weeks into the new year, and we love to start the year off fresh and focus on a few "housekeeping" tasks that will keep us organized and protected moving forward. Here are five tasks you can do this week to make your whole year better: 1. Update your passwords: It's a good practice to update your passwords from time to time. We know, we know....they are hard to remember, but try using a password protector / rememberer (we like Last Pass) to keep them all organized. Use combinations of upper and lower case letters, special characters and numbers, even when it's not required. As difficult as it is, try not to use the same one over and over. 2. Cancel unused subscriptions: streaming services, apps, or other paid subscriptions can be a real drain on your bank account. Take a good look at what really adds value to your life and cancel the rest. 3. Increase your monthly savings by 1%: Chances are, you will barely notice the difference now, and you will be amazed at how much you have stashed away for emergencies or *gasp* something fun. There are apps out there that will automate the process for you! I use Tracker, which makes a small transfer into my savings on a schedule I set. It's little amounts, but holy crap does it add up! 4. Unsubscribe to emails: You know how you bought your grandma a birthday gift in 2017 and you're still getting the emails from The Mumu Barn? If you're like me, you just keep deleting over and over, but it's time to take that extra click and unsubscribe my friends. Your future self will thank you. 5. Clean off your desk: You know that stack of papers on your desk? Sure you do--it's probably 8 inches from you right now. Find a home for those papers. Trash, file, and otherwise deal with that pile before it takes over your whole workspace Don't you feel so much better? If you completed even ONE of these tasks, drop a below. Remember--progress, not perfection!We are proud of you! #cleanup #smallbusiness #progress #ontrack #entrepreneur https://www.missoulabookkeeper.com/blogarchive/core-values monthly 0.5 2023-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/5d966d5e-d897-4296-8144-e7fb5449fde2/Not+your+daddy%27s+bookkeeper.jpg Blog Archive - Not your daddy’s bookkeeper. We believe in a judgement free zone. We believe in collaboration and creative perspectives. We believe in building each other up. We believe in healthy boundaries. We believe in calling your own shots. We believe in the power of small business owners to enrich their community. We believe in planning for the future, but buy the damn shoes. We believe in empowering people so they can build a life they love. https://www.missoulabookkeeper.com/blogarchive/hello-friends monthly 0.5 2023-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/8e5fdc3d-fb30-4a1e-bc5d-40ba74653caa/hello%2C+friends....jpg Blog Archive - Hello, friends… It's a new year, and a fresh start means it's time to once again introduce ourselves. If you have been following for a while, thank you and hello again, but if you are new here, WELCOME! We are Missoula Bookkeeper. We are a woman-owned and operated, full-service payroll, bookkeeping and social media management firm based in Missoula, Montana. Empowerment geeks to the core, we love helping small business owners all over the country develop systems to get themselves in order so they can make informed decisions and grow their business to support the life they want. Thank you for joining us on this adventure! This year promises to be even bigger than last and we can't wait to grow with you! New friends and old, say hello in the comments and tell us what your business is! https://www.missoulabookkeeper.com/blogarchive/see-you-later-2022 monthly 0.5 2023-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/84101d72-30f1-4bd1-95e0-370042ec5cbd/2022.jpg Blog Archive - See you later, 2022 (here’s what we learned). This time of year makes us all more introspective. I don’t know about you, but if January me could talk to December me, she would say, “WTF?” Reflection is such an important part of moving forward, so let’s take a look at a few lessons, realizations & goals that 2022 gave to me. : ’ . Because of unresolved issues, or a love for drama, some people like to fight & take any opportunity to provoke an argument. No matter how inflammatory, not every comment needs a response. Protect your peace. . Discomfort is where the growth is. ’ : . My choices are going to be the subject of gossip & that’s ok. Whatever perception people have about me is none of my business. . I’m allowed to prioritize my own time, money & energy. It’s okay to say no, even if it disappoints people. ’ : . I decide the rules, I determine how the points are scored. I succeed because I have decided it’s so, regardless of anyone else’s standards. . Failure doesn’t define my worth. “Never a mistake, always a lesson” ’ : . I don’t have to “earn” the right to take care of myself. Rest is necessary, not a reward for running myself ragged. I will take time for me without feeling bad about it. / . We won’t be looking at it as being dependent on others, we call it “using our resources”. We sincerely hope that 2022 was full of growth, experiences and valuable lessons for you. May 2023 bring you joy, peace and prosperity. Drop us a if this resonates, and let us know what 2022 taught you! https://www.missoulabookkeeper.com/blogarchive/three-payday-month monthly 0.5 2023-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/baafb73a-7ed0-42cd-abd3-f0123928968c/Business+Owners.jpg Blog Archive - Are three-payday months kicking your ass? As a business or organization that is currently on the bi-weekly payroll schedule, it can be tricky to budget or plan for cash flow during the two 3-payday months each year. For many of you December is one of those months. That means 3 payrolls this month and a larger tax bill next month because of it. The last 3-payday month hit hard for me and I decided to move my payroll schedule to twice a month, rather than bi-weekly because of it. Now my employees get paid on the 5th and 20th each month, my payroll and taxes are pretty stable and consistent and my cash flow is not as drastically affected. It has been a huge help for me. I made the change over 2 months by first checking in with my employees, planning the transition for the time when it would be the least disruptive to their personal budgets and made the switch with a lot of notice. Some employees really like the idea of the 3-payday month, but their own budgeting can be more consistent with a twice a month schedule as well. If you are interested in exploring this option for your employees, let me know and we can talk through a good timing and process to make this transition in 2023. https://www.missoulabookkeeper.com/blogarchive/not-a-mindreader monthly 0.5 2022-12-22 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/30013a28-a87f-4a9c-a095-1e9fd6e43113/Do+this+if+you+want+your+bookkeeper+to+hate+you..jpg Blog Archive - Want your bookkeeper to hate you? Then do this. Imagine you are a dog trainer. Someone brings their German Shepherd to you and asks you to teach the dog every command possible. After a week, the owner returns and the dog hasn’t learned anything. You are completely baffled. You tell them, “This dog is friendly and bright, but doesn’t seem to understand a word I’m saying!” It’s as if a light bulb goes on over the owner’s head. “Oh, have you been speaking English to this dog? He only speaks German!” Sometimes bookkeeping is kinda like that. Fact is, we are amazing, but we aren’t fortune tellers. We can only know and work with what you tell us. Your bookkeeping is only as accurate as the details you provide. So if you have a loan, get a credit card, buy a building, whatever…YOU NEED TO TELL YOUR BOOKKEEPER. We are getting to that time of year where you need to start thinking about filing your taxes, and if you have neglected to tell us about these things or you have a bunch of outstanding transactions that you need to provide details on, it only makes the process more complicated. If you wait until the last minute to provide details, it creates unnecessary chaos and makes your bookkeeper drink heavily. Do you want that on your conscience? We didn’t think so. Here are some things you can do to prevent us from showing up at your house to break your kneecaps: Make sure we know about all business credit cards & loans and that we have access to those accounts Notify us of any major purchases / sales of property or equipment Is your contact information up to date Is the current contact information for your employees up to date Have you answered your outstanding ask transactions Did you make business purchases out of your personal funds that we need to record Let’s be friends,okay? Take a minute to shoot us a note and let us know if there’s anything you might have forgotten to disclose and make sure there’s not anything we need that slipped through the cracks. Are you ready for tax season? Drop a comment below! https://www.missoulabookkeeper.com/blogarchive/out-of-office monthly 0.5 2022-12-22 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/a9460b20-1d44-4d62-9f5b-89a64e3b441b/Basic+Tasks+That+Your+Brain+Overcomplicates.jpg Blog Archive - Basic Tasks That Your Brain Overcomplicates: writing an “out of office” email. Over the next six weeks, odds are you will be stepping away from work & taking some time to spend with your loved ones–or at least we hope you will! When your availability is unpredictable, it’s really important to have an out of office memo on your email & voicemail. Crafting these messages is always easier said than done, though. Here are a few tips for crafting an out of office message that keeps expectations in check & communicates clear boundaries: Keep it simple–You don’t need to give specifics about where you are or what you are doing if you don’t want to, especially if it’s a sensitive and personal matter. It’s nobody’s business if you are taking time off to get your crack addicted sister to rehab, mmmmkay? Be specific about dates–Letting people know what day you will leave and when you will be back IS important, though. Clients will be much less likely to get worked up about limited interaction if they know what to expect for a response timeline. How reachable will you be?--This is totally up to you, but keep in mind that it's a vacation for a reason. You are not obligated to drop everything to answer emails and return calls. Boundaries, people. Boundaries. Alternate contact–If you have someone covering your workload, be sure to include their contact information if clients have an urgent need. For pete’s sake, remember to turn it off–Your system may have the option of setting a time frame for your out of office message, but if not, don’t forget to turn the damn thing off. Still struggling? Here’s a sample script: “Thanks for your message! Beginning December 20, I will be taking some time off to enjoy the holidays with my loved ones (and explaining to my grandmother why I’m still single). I plan to check my email periodically and will respond if urgent. For all other matters, you can expect a response when I return on January 2. Happy Holidays!” Add your own flair–a little humor or an industry related pun would be magnificent–and you’re out the door! Are you taking extra time off this month? How do YOU let your clients know you’ll be out of the loop? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/shop-small-and-self-care monthly 0.5 2022-11-21 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/6796c904-0349-4a62-87c8-876170e19002/a6a1821cde4f95780f01303d86a00984.jpg Blog Archive - We’re making a list, we’re checking it twice… We love small businesses! This holiday season, whether you are shopping for a gift or for yourself, please support your local dreamer and SHOP SMALL AND LOCAL! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/717c77c5-687e-427b-b324-de58710fe7f4/karsten-winegeart-qzCgm273HW0-unsplash.jpg Blog Archive - We’re making a list, we’re checking it twice… It is hard to believe that the holidays are already upon us. This year has flown by for Missoula Bookkeeper and you are probably feeling the same. As we head into the end of the year, it is a time to plan for your business but also to connect with family and friends in meaningful ways. It is so easy to get caught up in the hustle and bustle, putting our heads down to get through the craziness, but we want to encourage you to find ways to be present and intentional with your time for the next 6 weeks. To help you do that, we are bringing you a mix of practical tips and strategies for managing your holiday work/life balance, along with gift lists from some of our favorite clients to show our local small businesses some love. Here are some of the ways we are setting ourselves up for a restful and happy holiday season: Looking ahead to plan: January is our craziest month of the year. We are already assessing client files and making checklists so we can get ahead of the game and make everything run smoothly. We are also looking at internal systems to tighten things up, streamline processes and document things for the future. Tax-time prep: This year, I am planning to make the leap to an S-Corp tax filing and so I need to get my ducks in a row now to make that smooth. I am also planning out end of year bonuses for my team and other expenses that will help me lower my taxable income and take care of the amazing people that help this business thrive. Preemptive out-of-office: Because January can be so insane around here, we have been very intentional about laying low between Christmas and New Years and spending time with family and friends. This means that we start communicating with clients in early December about that time out. We will be sending a dedicated email, activating our “out of office” message, and planning our workflow for the month to make it possible to get the bulk of things done earlier in the month. Assessing client load: For the first time since I started the business, we have maxed out our client load. We closed out our new client intake process earlier this month. In addition, we are assessing current clients. For us, this means looking at what work we really enjoy, who is pleasant and easy to work with, what would we like to make space to do more of? This will mean some changes to our client load and how we work with current clients over the upcoming months. We have already identified clients that were not the best fit and found options for them that will meet their needs and allow us more time to spend with the clients that are really looking for our high-level service. We are also looking at other business-service related needs that our current clients have and how we can help meet those needs or partner with people who can. As you go into this holiday week, please take the opportunity to relax and enjoy the time with your people. Keep your eyes peeled for our fantastic gift guide posts on Facebook and Instagram, featuring many of our clients and favorite local businesses. I also hope that you take time to be intentional about planning your year end and heading into 2023 with a sense of clarity and peace! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d5a5774e-8a84-4e1c-af2e-55f0d4edd583/sincerely-media-EuZuJrYJbmg-unsplash.jpg Blog Archive - We’re making a list, we’re checking it twice… - Fun Christmas facts… Hallmark holiday movies only take 2 weeks to film “Jingle Bells” was the first song played in space If you gave all the gifts listed in the "Twelve Days of Christmas," it would equal 364 presents Americans expect to spend around $837 on Christmas gifts this year Over a billion and a half Christmas cards are sent each year in the U.S. https://www.missoulabookkeeper.com/blogarchive/beyond-the-books monthly 0.5 2022-11-11 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/9c864222-0f46-4857-a6ce-121d464739bb/Beyond+the+Financials.jpg Blog Archive - Beyond the Books: Looking past the financials and into the new year. - There are a lot of financial things to think about at the end of the year: bookkeeping, tax filing structure, bonuses, inventory, etc. But what's beyond the financials? What else can you do to tie a ribbon on the year & start fresh? Here are a few suggestions to save yourself stress in the new year: Systems–Did the policies, procedures & software you used this year serve you well? Are you using them to their full potential or are they costing you more than they are worth? If there are adjustments to be made, add it to your to do list. Accomplishments–What milestones have you hit this year that you are especially proud of? What goals did you achieve? Take a moment to write them down & admire the hard work you did to get there. We tend to get caught up in the things we DIDN’T do & it’s really important to look at all the ways we are really knocking it out of the park! Goals–What do you want to accomplish in 2023? Expand your social media? Hire more employees? Whatever it is, write it down & put it somewhere you can see it regularly. They don’t have to be giant things either! Anything that makes your business better or takes stress out of your day can be a goal! Website–How long has it been since you made updates to your website? Are the pictures and information on it still accurate and relevant? Have you made significant changes to your business since you last made adjustments? It may be time to put a website refresh on your to do list. Social media presence update–Similarly, it’s a good idea to look at your social media & assess its effectiveness. Is the contact information, links & hours accurate? Does your social media strategy reflect your goals and values? Maybe it’s time for an overhaul! Email angela@missoulabookkeeper.com if you need help! Like it or not, 2022 is on its way out. Take some time to look beyond the financial aspects and assess where you are and where you would like to be. What’s your goal for 2023? Personal or professional–drop it in the comments! https://www.missoulabookkeeper.com/blogarchive/giving-a-bonus monthly 0.5 2022-11-11 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d37a210b-3a7f-4043-a720-dac614339bb4/What+you+need+to+know+about+offering+an+end+of+year+employee+bonus..jpg Blog Archive - What you need to know about giving your employees a bonus. If you have employees, you know how vital they are to the success of your business. Being able to delegate tasks, serve exponentially more customers, and tap into their unique skills is what keeps the doors open and money in the bank. If you are financially able, you may be looking at end of the year bonuses or other incentives.Here are some things to consider: : Tie it to performance, longevity, or make it the same amount for everyone. Whatever strategy you choose, make it consistent and clear. : Don’t let all that appreciation and holiday spirit go to your head. Only give what you can afford. : It’s tempting to hit the ATM and pass out cash, but all bonuses need to run through payroll so they are taxed appropriately. Other incentives like gifts or parties do NOT be captured in payroll. If a “cash” bonus isn’t feasible, or you want to spare the tax implications, there are a lot of other ways to show your appreciation. Consider extra time off, closing the office, a special staff meal or outing, or even a handwritten and heartfelt thank you. What is the best / worst bonus or gift you have ever gotten from an employer? Let us know in the comments (especially if it's hilarious, weird or embarrassing. We live for that shit)! https://www.missoulabookkeeper.com/blogarchive/llc-scorp monthly 0.5 2022-11-11 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/de6c5e86-b4a7-4400-91e2-38ffba324c23/Copy+of+We+get+that+all+the+time%21.jpg Blog Archive - Q&A: LLC vs. S-Corp There is a lot of confusion about the difference between an LLC and an SCorp, and the first thing to know is that an LLC is a legal entity, while an SCorp is a tax filing classification. When you first start your LLC you will most likely still file taxes as an individual but you can also opt to file as an SCorp without changing your business entity types. Why would that matter? Well, as your business grows, so will your tax bill. In my geographic area, many CPAs recommend that once you start consistently having a net profit of about 40K it's time to start considering this shift and consulting your CPA. Here is how this seemingly small change can save you on your taxes. As a schedule C Filing LLC you pay self employment taxes on your net profit. The current rate is 15.3% If you move your filing to SCorp, you must pay yourself a “ reasonable salary” and that will be taxed at the 15.3 rate. However, all income above that reasonable salary, you can take as a distribution or dividend. Distributions of up to $40K per year have a 0% tax rate. Here is a super simplified example: if my business nets $50K as an LLC, filing as an individual, I would pay $7650 in federal taxes. But if I am an LLC filing as an S-Corp with that same net, I can pay myself a reasonable salary of 30K, and take 20K in distributions and I will pay $4590 in federal taxes. Taxes are complex and this decision will be influenced by other factors in your personal financial situation, so it is wise to consult your CPA before taking the leap. It's also important to note that there are some added costs such as payroll software to manage your payroll, payroll taxes and more CPA time for an additional form filing. But most of the time, this small change can save you thousands of dollars in taxes each year. Got a question? Drop us an email at team@missoulabookkeeper.com https://www.missoulabookkeeper.com/blogarchive/avoid-the-tax-season-drama monthly 0.5 2022-11-11 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/5d139abd-dba3-4ac0-9c53-038e6d56deb9/Avoid+the+tax+season.jpg Blog Archive - Avoid the tax season DRAMA. - Keeping your bookkeeping up-to-date each month allows you to have a clear and accurate picture of your business finances throughout the year, and avoids tax deadline drama. As we get to the end of the year, we are taking a look at our current clients to make sure we have everything we need for a smooth close out and transition into 2023. Here are some of the things we will be looking for and updating: Ask reports up to date Bank access / credit card access current Loan information up to date Contact information for the business and employees are accurate 1099 contractor contact info and EINs You have accepted your portal invite Any other receipts / spreadsheets / documentation When finalizing clients for tax prep in January, Missoula Bookkeeper will be giving priority to clients who have kept up on things throughout the year. Some of you will be getting a specific, personal reminder with a deadline so we can get your tax prep finalized in a timely fashion. Please take some time in the next few weeks to update these items and collect any necessary information. As always, thank you for your continued support! https://www.missoulabookkeeper.com/blogarchive/end-of-year-checkin monthly 0.5 2022-10-19 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/52214f95-6cd2-4d0f-8324-83f82c0241cb/absolutvision-82TpEld0_e4-unsplash.jpg Blog Archive - End of the year check-in How is it possible that it is almost November?!? I feel like we just were in the chaos of last tax season. As the end of 2022 looms in front of us, we want to make sure that you are ready for the end of the year and the upcoming tax season. This month we are going to focus on practical considerations for your business and your finances so you're set up in the best way possible for your taxes and for starting a new year and a new season. Here's just a quick overview of some of these topics that will go into more depth this month: Should you file as an s-corp in 2022? If you are an LLC this year when filing your taxes as an individual for the last 2 years it's a good time of year to look at your profit and loss and see if your net income is high enough to warrant changing your filing status with the IRS. If you are thinking about making this change we need that information by the end of November in order to get everything in line so you're ready to do that before the end of the year. If you are a retail or wholesale business that has inventory, it's a good time to clear out old inventory that you don't plan to carry in the new year. Also, as you are planning for next year, avoid purchasing excess inventory this year that you won't be able to sell until later in 2023 in order to set yourself up in the best spot tax wise. If you have employees, you may be looking at end of the year bonuses or other incentives. A quick reminder: all bonuses need to run through the payroll system so they make it onto your employees W-2. Other end of the year incentives like gifts or parties or other client appreciation do not need to be captured in payroll. You may also be looking at benefits that you are currently offering or that you want to offer in the new year. If you are looking for advice on your options for health insurance, retirement plans, or creative benefits that can help with retention and hiring new employees, get in touch! We have resources that can help you and we're also happy to talk about what we're seeing in other small businesses. Get your books all ready to go! Most of you are excellent at helping us keep your books up to date, communicating with us about your ask reports, or letting us know when you have new loans or accounts that should be on the books. But some of you are pretty awful at this. Keeping everything up-to-date each month allows you to have a clear and accurate picture of your business finances throughout the year. It also avoids tax season stress. When finalizing clients for tax prep in January, Missoula Bookkeeper will be giving priority to clients who have kept up on things throughout the year. You won't be able to file your taxes until your books are finalized, so it's in your best interest to get us information as soon as possible. Those of you that have long Ask lists or other missing information will be getting a personal reminder with a deadline so we can get your tax prep finalized in a timely fashion. Needing a CPA for this year? We’ll be sharing a list of our favorites for small business owners. When looking for a CPA, it's important to find someone who is comfortable acting as an advisor and not just filing your taxes every year. Finding someone who has expertise in your industry or business type is also important. Planning big things for next year? Talk to us and your CPA now so that you're planning well for the new year. This could be big changes in your personal life: marriage, divorce, babies, empty nesting. Or it may be big changes in your business: retirement, hiring employees, expanding your business, buying a building. Missoula Bookkeeper can help you look at your business finances and talk through how these changes can be managed financially and planned for. In the midst of finishing out the year and celebrating the holidays make sure that you take some time to decompress and relax. Be present with your family and start the new year rejuvenated and ready to grow your business! It has been an amazing year and we are so grateful for all of our clients and followers. We are excited for another year of helping you with your businesses and watching you flourish. Thank you for letting us be a part of your businesses and organizations! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/4ec055ea-fc0d-4c37-a75b-09957dced2be/download.png Blog Archive - End of the year check-in - FINANCIAL TOOLS WE LOVE (and really use!) Angela’s Pick: FETCH REWARDS APP Fetch Rewards is a shopping app that gives you points for everything you buy. Just open the app and snap a picture of the receipt and get points. Fetch has partnerships with certain brands and you get extra bonus points when you buy those brands. Connect your email and Fetch will give you points for your online purchases as well! Redeem your points for gift cards with hundreds of retailers, or donate to charity. One point = one dollar, so points add up fast. Just this week I redeemed my points for $50 on Amazon! Available on Google Play and App Store https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/14f43ece-897b-4f61-9c1c-1ddfb8bfc953/james-lee-BMO1SzQHWRs-unsplash.jpg Blog Archive - End of the year check-in “Year’s end is neither an end nor a beginning, but a going on, with all the wisdom that experience can instill in us. “ https://www.missoulabookkeeper.com/blogarchive/inclusivity monthly 0.5 2022-11-11 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/3864f4a0-cd0b-481a-882e-d3133c3a9648/WHY+INCLUSIVITY+MATTERS.jpg Blog Archive - Inclusivity Matters. My children are amazing. My son is the most creative person I know. He loves to paint & can sculpt creatures never before imagined. He is a wonderful problem solver & patiently makes things work when any one else would give up. My daughter sees wonder everywhere. She has an emotional intuition about people & is naturally drawn to those who need a little of her special brand of sparkle. They embrace their uniqueness & are fully “themselves” more than anyone else. They both also happen to have disabilities. I often wonder what the future looks like for them. I know they have talents, but what opportunities will they get? Will people see beyond their difficulties & embrace their gifts? After all, the unemployment rate for those with a disability is nearly 2X that of their non-disabled peers, and often employers don’t know how to find & reasonably accommodate people who have differing needs. October is National Disability Employment Awareness Month, so it’s a perfect time to talk about the importance of inclusion. We have compiled a list of resources to help ensure that your policies & procedures are structured to include people with differing abilities & everything they bring to the workplace (links in our pinned post): . includes a library about disabilities, what accommodations should be available, contact info for state & local resources, and all the details about applicable laws. . helps employers find, recruit & retain workers with disabilities. Learn how to write an inclusive job post, maintain an accessible environment, and find awareness training. . connects those looking to learn new skills with employers and sponsors looking for qualified workers. People with disabilities bring a unique perspective and ability to the world & the workplace. Studies show that an inclusive workplace has higher customer loyalty, better employee retention, and fewer workplace accidents. The next time you are looking for someone to bring their unique talents to your small business, please make a point of including those with disabilities. You will be richly rewarded. https://www.missoulabookkeeper.com/blogarchive/social-media-topics monthly 0.5 2022-10-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/0fe8b836-dcda-46f3-a3e3-2041c5cf9e0f/When+You%27re+Searching+For+Topics+For+Your+Social+Media%2C.jpg Blog Archive - When You Need Social Media Topics, Look Here! When it comes to social media, the number one complaint of small business owners is that they don’t know what the hell to talk about. Finding a topic that is interesting & relevant to your customers can feel like a never ending task, so here are a few places to mine for content topics: Holidays / Deadlines / Seasons- Be it a specific holiday, or a general time of year like graduation or wedding season, chances are that there are certain parts of the year that play a big role in your business. Fill these dates into your SM calendar, and you have ready made topics for a good chunk of the year. Crowdsource- Use Facebook polls or your Instagram story to ask your followers about their experiences. Maybe they have questions about your products / services, or they want to tell you about what they love or hate about the process. If one person says it, odds are there are many thinking it. Use that feedback as subject matter. Draw from your personal life-Whatever you are celebrating or struggling with in your personal life is fair game for content. Doesn’t matter if it isn’t related to your business directly. Being real & relatable is a superpower that creates connection with your audience. Look to those you admire-Consult the accounts you follow & make note of the content that really resonates with you. Use that content as a guide to inspire you (but don't copy!). Now trending-Watch for patterns across SM to identify trends. Use reel formats, sound bites, memes and other content and put your own spin on it. Testimonials-Testimonials are the oldest trick in the marketing book, but they are as effective as they have ever been. Testimonials are scientifically proven to generate sales & build brand awareness. No matter where you get your topic inspiration, don’t forget to include a call to action in every post–ask for a comment, a follow, to go to your website, sign up for emails, or share your post with a friend. Whatever gets them to engage. Which reminds me…while you’re here, don’t forget to sign up for the newsletter, book a consult, browse the blog or learn more about the team! https://www.missoulabookkeeper.com/blogarchive/call-to-action monthly 0.5 2022-10-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/775bbe40-a284-4b5f-bf16-af6f25d9c528/Ways+to+ask+your+customers+to+engage.jpg Blog Archive - Rule #1: Ask Your Customers to Engage Every small business post on SM should include a "call to action". A little request that gets your followers to engage with your post and deepen their relationship to your brand. Examples: Click here to request a quote Download our guide to choosing the perfect gift Click the link in our bio to sign up for the newsletter Share this post with a friend Comment below with your favorite way to recharge Follow us on Facebook, Instagram, Pinterest, Twitter, Tic Tok, You Tube What examples do you use for a call to action? What calls get YOU to engage? Let us know in the comments! #comment #relationship #success #business #calltoaction #smallbusiness #getfollowers #businesspost https://www.missoulabookkeeper.com/blogarchive/streamlining-content-creation monthly 0.5 2022-10-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/2608efb0-6167-492f-958a-775a603718ea/Tips+For+Streamlining+Your+Content+Creation..jpg Blog Archive - Tips for Streamlining Your Content Creation. You KNOW you have to create content to keep your business relevant, but you hate doing it. You feel obligated to post at regular intervals, but you put it off as long as possible, then you pluck out one post. While you momentarily feel relief, almost immediately the dread of the next post is looming over you. Content creation can feel tedious & overwhelming, but here are a few tips to streamline the process: Blocking time-Set aside a block of time (start with 1-2 hours) and put it on your calendar. No cheating. Minimize all distractions & crank out as much content as you can. Aim for a week’s worth of content or 2-3 posts at first & see how that feels. Blocking time is a lot like going to the gym. It will be a struggle at first, but you will find the more you flex that muscle, the more you will be able to accomplish. Develop content you can re-use- “Evergreen” content is content that you can use over and over because it stays relevant over time. If you have a few pieces of evergreen content in your arsenal, you can turn to them when you need content, but don’t have the time to create something new. Photos-When you need photos, it’s so much more effective to use real photos of yourself when you can, but the process is ridiculous. Next time, try taking a video & grabbing the frames you like. You will end up with a lot more usable stills with one set up and spend a lot less time than taking individual shots. Reelapalooza-Reels are great for getting engagement, but they can be time consuming to make. Save time by recording several at once. Get your scripts together, record one, change your shirt or background, record again, repeat. Spread out posting them to give the illusion they were filmed at different times. Finally, don’t feel like you have to have it all dialed overnight. Progress, not perfection. Experiment to find the process that feels right for you. Over time, you will find yourself creating content faster, more consistently & with so much less anxiety. What tricks do YOU use to crank out content? Comment below! https://www.missoulabookkeeper.com/blogarchive/one-idea-into-a-month-of-content monthly 0.5 2022-10-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/4eaf9ae2-503e-4add-8c80-98841cf5440c/One+Idea+%283%29.jpg Blog Archive - Turning one idea into a month of social media content. When it comes to creating social media content, one of the biggest obstacles small businesses face is figuring out what to talk about. Constantly coming up with fresh ideas day after day becomes a giant hardship, often stalling progress and causing them to avoid posting all together. Avoid all that stress by picking one major topic, and learn how to make it last all month. That may sound easier said than done, but here’s the secret: think of your social media content as a big tree, and every month your job is to “plant” a topic and grow that tree, with a strong trunk, filling it out with branches and leaves along the way. The Trunk Blog post –This is your main topic for the month, and likely your longest piece of content. As you write, keep in mind that you will use this as the basis for the rest of your content for the month, so leave room for the elements that follow. If you don’t have an official blog or newsletter, you can just post it on your social media outlets. We always do ours on the 3rd Wednesday of the month, because that makes the most sense for our workflow. Pick whatever day of the month that works for you and stay consistent. The Branches Breakouts-Take an element from your blog (or “main”) post and flesh it out further, adding more detail, further clarifications and specific examples. Once you get the hang of writing the main post, you will start to very easily see what the obvious breakouts are. We aim for three breakout posts a month, but you could certainly do more if your topic is especially meaty. The Twigs & Leaves: Vocabulary / Technical Jargon-Educating your consumer makes for great content! In the least complicated way possible, explain a term, process or product in a way that someone outside of your industry can understand. Employee Profile- Your customer WANTS to know who you are, so take time to introduce yourself & your employees. It could be a basic introduction including name & job title, or it could be something more creative, like your favorite place to travel, or an unusual hobby. Some of our best interaction has been on posts that are about us as individuals! Soft Post-Soft posts are by far the easiest posts to do, and while the name sounds fluffy, they have a huge impact. Use a quote, a meme, a book or podcast recommendation to simply & clearly drive home your topic for the month & create a personal connection with your clients. Wild Card-We set aside a “wild card” day every month. Sometimes life happens & you have to shift things around. This placeholder allows you to add extra breakouts, remind clients about an important deadline, or announce a change happening in your business. Challenge or Poll–It’s so fun to see what your clients are thinking. Have them choose your new product, or tell you about their needs. A poll or a challenge is a great way to interact with your clients and gain insight for future topics. How many posts you do a month will really be determined by how much time you can commit to the process and what resonates with your audience. More doesn't always mean better, so experiment a bit & see how your interaction is affected. For us, 2-3 times a week is the sweet spot, but that may be different for your audience. If you're feeling overwhelmed already and just want someone to help take care of all of this for you, we have great news! We will be onboarding new clients for Social Media Management services in the next couple months, so click here: https://www.missoulabookkeeper.com/social-media-management to get your name at the top of the list. https://www.missoulabookkeeper.com/blogarchive/social-media-management-strategies monthly 0.5 2022-10-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/f7da0b08-ce3d-4784-9d7d-dbdd78b7ffd7/bruce-mars-FWVMhUa_wbY-unsplash.jpg Blog Archive - Strategies To Take The Dread Out Of Social Media Management. The essence of social media is knowing your audience and engaging them in something they love. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/c18e0ed3-566b-4a15-bdf5-23a27cec7f1c/Pear-Vanilla-Gin-Fiz.jpg Blog Archive - Strategies To Take The Dread Out Of Social Media Management. I don’t know about you, but I drink better when I’m writing…or something like that. When you sit down to create content (and we’re doing a block of it at once, right?), here’s a great little treat to get the creative juices flowing and make the task a little more pleasant. Bonus: this one is perfect for that crisp fall weather! Pear-Vanilla Gin Fizz 1.5 ounces Gin 2 Tbsp Pear-Vanilla syrup (recipe below) 3/4 c soda water vanilla sugar for the glass rim if ya feelin’ fancy Pear-Vanilla Syrup 1 c finely chopped pears (bartlett works great) 1/2 c water 1/2 c sugar 1/4 c vanilla syrup (the kind they have at the coffee shop. Torani brand should be easy to find) Put all ingredients in a saucepan and bring to a boil. Reduce heat and simmer for 5-8 minutes until it becomes an amber color and the pears break down. Cool slightly and strain the mixture. You’ll just use the liquid part for the recipe, but the rest is great over ice cream or with yogurt. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/2e23f26c-12cb-4938-be27-d505b324a8e5/karsten-winegeart-60GsdOMRFGc-unsplash.jpg Blog Archive - Strategies To Take The Dread Out Of Social Media Management. As a small business owner, there are a lot of different hats to wear, and not all of them will fit just right. On any given day, you may shift from CEO to janitor to HR specialist to cashier to handyperson and back to CEO again. Somewhere in all of the back and forth, you will have to take on the role of social media manager. If the thought of putting yourself out there gives you a stomach ache, you are not alone. Most small business owners would rather visit the dentist than tackle creating regular social media content. Maybe you have no idea what to post, or you’re too busy with the day-to-day of your business and marketing seems like “extra”. Maybe it just feels inauthentic and “salesy”. Maybe you are just overwhelmed by all of it. All of the above? Here are a few strategies to help make the process a little less crushing: Choose one theme and stick with it for a whole month. This keeps your content cohesive and makes it easier to come up with content since you already have an idea what you’ll be talking about. Commit to a block of time to make and schedule several pieces of content at once. Once you get in the groove and start creating, use that momentum to produce a chunk of content while you are in the creative headspace. Use holidays, deadlines and important events to help guide your topic selection. If you map out the things happening in the world and in your industry, the topics plan themselves! This also means you can write your content well in advance. Build room in your calendar to flex. For example, we pre-plan one day every month as a “wild card” day. This day can be used as an alternative day to a regular post if life just got away from you and you missed one, or additional content if you have an extra lot to say, or to remind customers about an important deadline. We will be going into more detail on all these strategies this month, as well as others like: using your core values to create content, creating content categories to help streamline your processes and profiling your ideal client. Does this all sound like more trouble than you want to deal with and you would rather just hire someone to do the leg work for you? You are in luck! Missoula Bookkeeper is now accepting clients for social media management! We offer a free 30 minute consultation for all SM services to determine your needs and goals.We will be onboarding SM clients over the next couple months, so click here to get your name on the list for the next available spot! https://www.missoulabookkeeper.com/blogarchive/commitment monthly 0.5 2022-09-17 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/b7bcf52b-5abc-40b7-8fb6-f8ebd36772fb/Big+Reasons+Small+Business+Owners+Don%27t+Hire+a+Bookkeeper+%282%29.jpg Blog Archive - Big reasons small business owners don’t hire a bookkeeper: THE COMMITMENT. So many small business owners put off seeking the bookkeeping help they need because they are worried about the consultation. We get it, booking a consult can be a little intimidating. It feels heavy and scary and uncertain. They are nervous about sharing their financial details, they don’t know what kind of interrogation and judgment might be involved, and most of all they are anticipating the “hard sell”. Here is a quick rundown of exactly what goes into the process: Consults are 30 minutes long, and we will chat about your business, what your goals are and get a general idea of where you are financially. You will have an opportunity to ask us anything you like about our services. Best of all, consults are absolutely free. After we talk about your business and what your goals are, we will say goodbye and get to work putting together a proposal that outlines your needs and the no B.S. cost for you to review ON YOUR OWN TIME. There will be zero expectation for you to commit to anything. We have never, ever tied anyone up in an alley and forced them to sign a contract–unless you’re into that. Keep in mind that bookkeeping services don’t have to be a lifetime commitment. Maybe you need help getting a system in order and then you want to do the day-to-day maintenance yourself. Maybe you need help cleaning up the system you already have. This isn’t an all-or-nothing situation–we can help with as much or as little of the process as you need. We are scheduling NOW for Fall consults. Click here to schedule and start on the road to financial empowerment! #smallbusiness #entrepreneur #womeninfinance #consult #bookkeeping #finance #scary #uncertain #goals #nobullshit #nopressure #nojudgement https://www.missoulabookkeeper.com/blogarchive/financial-embarrassment monthly 0.5 2022-09-17 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/59727612-bdd0-478f-aaea-7d1bb631fb06/Big+Reasons+Small+Business+Owners+Don%27t+Hire+a+Bookkeeper.jpg Blog Archive - Big reasons small business owners don’t hire a bookkeeper: FINANCIAL EMBARRASSMENT. One surprising aspect about being a bookkeeper is that shame and embarrassment are a regular point of conversation with potential (and sometimes even current) clients. We definitely find ourselves slipping into the role of counselor and advisor in a real and intimate way for clients and "might become" clients. When you dig deeper, the embarrassment makes sense because we all hold a lot of weird feelings around money and budgets and financial topics in general. It’s common to feel like there’s a competition for success that you are somehow losing because you haven’t hit the same milestones at the same rate your parents or grandparents did. Sometimes it may seem like all of your peers are “doing better” financially than you are–less debt, more savings, better planning. When we sit down with a client, there is often stammering, blushing, a rush of excuses and explanations. But here's the thing...we have absolutely zero judgment for your current or past financial choices, organization (or lack of), spending habits or the priorities for your time and money. Honestly. We know everything isn't perfect. If you had all your shit together, you probably wouldn't be calling us. Here are two miraculous facts we know for SURE: Things are absolutely not as bad as you think they are. Guaranteed. You are a rockstar at the tasks that are the heart of your business and bookkeeping is not where your limited energy should be going. Finding the right person to help you now means that you are headed in the right direction. Bought new jeans on your business card? No problem, we'll just put that to a draw (btw, your ass looks great in them). Still paying your internet bill on your personal credit card? Send us the latest bill and we'll get that recorded correctly. We will talk about how to do things in a way that makes the most sense, saves time, and make a plan TOGETHER. No lecture, no shame, no guilt, no judgment. Priority one is helping you have the guidance and information you need to make sound financial choices for your business. So let go of your excuses and tell your money shame to take the day off. We are scheduling now for Fall consults. Click here to get started! Let’s put aside the guilt and make a plan that gets you on track! #smallbusiness #entrepreneur #womeninfinance #noshame #guilt #plan #worktogether #nojudgement #nolecture #letgo #finance #budget #money https://www.missoulabookkeeper.com/blogarchive/rally-the-troops monthly 0.5 2022-09-17 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/989286ba-de4f-4b4a-a9db-c8f2474acfc8/Rally+the+Troops+to+Make+A+Difference..jpg Blog Archive - Rally The Troops To Make A Difference. Another awesome way to support causes you adore is to bring a crowd with you. When I started Missoula Bookkeeper, I had a few little milestone rewards that were also goals in themselves. One of these goals which would represent a certain level of financial success and be a sweet reward was purchasing a table as a sponsor for the Zootown Arts annual fundraiser–The Mini Show. I love art, and I ADORE this organization. And I am always down for a reason to get dressed up and socialize with people I love, so this event was a no-brainer. In 2020 I was finally at the spot where this was possible. I rallied the troops and filled a table. And then {dun, dun, dun….} COVID. We all sat in our living rooms and gathered for art via Zoom. In 2021, things shifted again and this was one of the first public gatherings in town. It was outdoors on a lovely May day. I filled 2 tables with 16 friends, clients and staff. It was a great way to introduce my people to this amazing organization, foster new art lovers and get dressed up. This year, we filled 3, 10-person tables, dressed up as vintage circus performers and bought SO. MUCH. ART. It was amazing to be able to bring together such a great group of people, again fostering new collectors, supporting an organization I love and having a freakin’ blast. So, it's not just about doing your part to support your community, but finding ways to bring people with you. This expands support for good organizations, connects people in meaningful ways and is a great way to blow off steam. I can’t wait to see what the 2023 show has in store. Let us know in the comments: what are your favorite local fundraising events? What goals have you set that represent financial success for your business? #smallbusiness #entrepreneur #womeninfinance #goals #community #bringacrowd #COVID #support #charity #nonprofit #success https://www.missoulabookkeeper.com/blogarchive/financial-ethics monthly 0.5 2022-09-17 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/05554f25-4c2f-4e77-b127-b933a7e750a9/Financial+Ethics+Investigating+the+Politics+of+Companies+You+Support+%281%29.jpg Blog Archive - Financial Ethics: Investigating the Politics of Companies You Support. When it comes to non-profits, they wear their values on their sleeve, so to speak. What you may not have considered, is that all of the other organizations you do business with–vendors, clients, financial institutions–all have their own values, causes & agendas that may not be in line with yours. Not all businesses (especially large ones) are very transparent about their leanings. How do you find out which side their bread is buttered? Here are a few resources that have done a deep dive into the data that tells you who is in line with your values in the ways that are important to you. Mightydeposits.com analyzes public data so you can see exactly what every bank and credit union invests in (yes, EVERY). Not only can you see how your current bank stacks up, they have search tools & guides to help you find institutions that specifically align with your values. Opensecrets.org “follows the money” so to speak, collecting data about political contributions of those associated with commercial banks, industries & prominent figures & how much of these contributions go to different political parties. If numbers and charts and graphs are your love language, this site is for you. Progressiveshopper.com tracks the general political affiliations of companies based on public data, in an effort to help consumers make spending decisions. Additionally, they have a section devoted to “serious issues” to show where various corporations come down on specific hot topics. Goodsuniteus.com is probably the clearest & easiest place to start if all of this information seems overwhelming. This straightforward database allows you to search by specific company or brand, & see a rating based on how their investments & holdings lean. The highest ratings are given to companies with holdings that are considered politically neutral. How much does it matter to you that the businesses you support have ideology similar to yours? How diligent have you been in investigating the politics of the places you shop or invest your money? Let us know in the comments! #smallbusiness #entrepreneurship #womeninbusiness #financialethics #politics #ideology #support #finance #shopper #banking #data https://www.missoulabookkeeper.com/blogarchive/ways-to-give monthly 0.5 2022-09-17 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/3d5570a2-1e05-4ee4-8054-ce7f9a345a8b/Ways+To+Give.jpg Blog Archive - Ways to give (that aren’t money). There are a million ways to support a cause you feel passionate about. Obviously you can donate cash or show up and volunteer, but there are so many other meaningful ways to contribute to your favorite non profit organization. Here are a few of our favorites: Joining a board–One great way to contribute is to join the board of a nonprofit. Contact the Executive Director to learn more about duties of a board member and the selection process. They may put you in contact with the Board President or someone on their committee assigned to nominate new members. Some charities have elections at their annual meetings, while others add people year round. Participating in a board is also a great networking opportunity. Sponsoring events-There are so many amazing local events for charity, the list of opportunities is endless. BONUS: if the event prints your name in an ad or puts your name on a table or anything like that, you can count it as an advertising expense, and leave more room in that $300 limit the IRS puts on charitable donations. Donating products / Silent Auction- If you own a retail business, you can donate product for use, giveaway or silent auction. Alternatively, you can donate gift cards for these purposes. Fundraising-A fundraiser can be as simple as a coffee can by the register, to a full blown event. Giving is supposed to be fun, so start small to get a feel for what you can manage and go up from there. Donate space for fundraising-Contact your favorite local non-profit and volunteer your space for a fundraising event, board meeting or other use of their choice Raising awareness-You may not have a physical space to lend to your favorite cause, but you definitely have a digital one! Use your website, social media, and newsletters to spread awareness and get support for your favorite causes. What unique ways have you chosen to support your favorite cause? What methods have felt the most meaningful to you or gave you the most satisfaction? Let us know in the comments! #smallbusiness #entrepreneur #charity #give #nonprofit #donate #board #fundraising #sponor #networking #unique #meaningful https://www.missoulabookkeeper.com/blogarchive/where-to-put-your-time-and-money monthly 0.5 2022-09-17 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/7bb941ff-905d-4867-af1e-432999b46c2f/Deciding+Where+Your+Charitable+Donations+Go..jpg Blog Archive - Giving to Charity: How to decide where to put your time and money. Late nights, early mornings, long weekends…you work HARD to earn your dollars. So when it comes to giving some of it away, how do you know you are sending your hard earned dollars to the right place? It’s important to us (and likely everyone else) that the money we donate goes to organizations that will maximize it for the most good. Here are a few things to consider: Their values align with yours–To start, look back over the last year at the things that significantly impacted you, both good and bad. For example, if you had a loved one impacted by illness, you might choose a cause related to that. Does your child enjoy music or art? Perhaps a charity that offers scholarships to kids that can’t afford these activities is appropriate. Something else to consider is if you would like to support a local, national, or international organization–or a mix if you are able to give to several. Vetted through BBB and IRS–The IRS will be able to tell you if they legitimately have 501(c)3 status, and the BBB will let you know if they have any reports of misconduct or impropriety. Get the data–There are a few sites out there that will give you the hard numbers about exactly where each donated dollar goes. Charitynavigator.org is our favorite, but givewell.org, guidestar.org and charitywatch.org are equally reputable. A good guideline is to look for an organization that puts less than 30% to admin and fundraising. We have talked money, and now let's talk about time. While it’s true that donating your time doesn’t have the same tax benefit, its impact is no less profound. Perhaps you don’t have the funds to give, or maybe you love to roll up your sleeves and get out and help more actively. Either way, here are two great ways to find opportunities to help that suit you: volunteermatch.org–Type in your zip code, and you will be matched with local organizations that need your help. You can filter by cause, skills, find things that are kid friendly, and even virtual opportunities. catchafire.org–If you have a very specific skill set like accounting, IT, website design, professional coaching, or photography this might be the perfect place for you. Additionally, if you are a non-profit in need of these services, this is the place to post for assistance. How do you decide what organizations get your volunteer time and donation dollars? What are the marks of a good organization in your opinion? Let us know in the comments! #entrepreneur #smallbusiness #womeninfinance #charity #donate #fundraising #volunteer #money #time #spending #nonprofit #irs #bbb #data https://www.missoulabookkeeper.com/blogarchive/goals-and-core-values monthly 0.5 2022-08-17 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/eb65e4f0-0745-4c4b-816f-a0515a4167a9/e-uuUpLtRkK0g-unsplash.jpg Blog Archive - Using Your Finances for Meaningful Change. Before starting my business, I had spent most of my career working in non-profits. There were a lot of hours for pretty measly pay but your reward was supposed to be supporting a cause or organization you believed in. It was supposed to feel great to help out, but often you felt burnt out, overworked and underappreciated. And you rarely got to do the “fun” work that the organization represented because you were doing your desk job to support that work. Later, I shifted to working for a community-minded for-profit and that experience was vastly different. Hours were still long and the tasks of the job were not always stimulating, but the pay and benefits were much better. They also allocated time and money into real staff development and continuing education programs, including tuition matching for advanced degrees that benefited your position. And they used their capital and employees time in the community all the time. They had a budget for community donations and staff could recommend projects or organizations for funding. They gave staff an annual time allotment for volunteering on company time and encouraged staff to join local boards or to find consistent opportunities to volunteer. They organized staff volunteering days and sponsored tables at fundraising events and gave the spots to staff. I thought I was going to be less connected to the community when I left the non-profit world, but I actually had more opportunities for direct involvement. As I started to formulate a plan for my own business, I wanted to use these two types of experiences to inform how my business participated in the community. I had seen both-sides of the coin and I had strong ideas about what I wanted to cultivate and support in my own business as it grew. Some of the values that have been woven into the culture of Missoula Bookkeeper include: being a great boss, preaching and practicing work/life balance, being fiscally responsible, supporting local organizations. As a single mom in what is becoming an increasingly high cost of living community, I have to be aware of my bottom line, but I also want to give back to this amazing community that has nurtured my business. Here are a few things I have intentionally implemented in the past few years: paying livable wages to employees with regular cost of living assessments and raises, bi-annual staff retreats to get feedback, thank employees and plan for the next 6 months, creating financial stability for my team so we can be more present and participatory citizens, supporting several non-profit boards, sponsoring 2-3 fundraising events per year and consistently stepping back to assess and refocus for the betterment of the company. This month we are going to explore how to make sure your personal and corporate values are really informing the choices you make in your business. Here are some of the things we will look at: Looking at vendors, customers, and service providers to make sure that they have values that align with yours - are you supporting companies that donate to causes or candidates that you disagree with? Do the companies that you associate with use business practices, ingredients or processes that align with your values? Is your choice of bank, financial advisor and investments responsible? Finding local causes to align yourself in ways other than direct cash donation. This may mean sponsoring events, joining a board or offering products for silent auctions or other fundraising. Having ethical and thoughtful personal policies. This could include pay structure, benefits, time off policies, systems for employee review and recognition, professional development and staff appreciation. Choosing causes and nonprofits to donate to and how to know if they are spending their donations responsibly. What values do you want your business to embody? How have you worked to have a value-guided business? https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/68e61a62-dfb8-4073-85aa-4a25cbef0470/kelly-sikkema-M98NRBuzbpc-unsplash.jpg Blog Archive - Using Your Finances for Meaningful Change. - REMEMBER: Keep in mind: serving a charity with your time is an amazing gift, but it’s not a tax deductible one. If you are looking to donate with a tax benefit, stick to gifts of money or product. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/400b6c50-0a4a-44a7-984c-da9fbd2871ef/josh-appel-NeTPASr-bmQ-unsplash.jpg Blog Archive - Using Your Finances for Meaningful Change. - Charitable Write Offs When it comes to charitable donation write offs, the limit is $300. That doesn’t leave you much room tax-wise if you want to do more. Here’s a tip we learned from one of our favorite CPAs: some types of donations can be counted as an advertising expense to maximize your write offs. Check with your accountant or bookkeeper for advice about what kind of donations can qualify. https://www.missoulabookkeeper.com/blogarchive/priceincrease monthly 0.5 2022-08-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/32484758-71a1-4c90-ac8c-b7e659af9b01/How%2BDo%2BI%2BTell%2BMy%2BCustomers%2BAbout%2Ba%2BPrice%2BIncrease.jpg Blog Archive - How Do I Tell My Customers About A Price Increase? The thought of raising prices for our products or services makes many of us a little queasy. We know that our costs have gone up or the value of what we provide has increased, but we struggle to charge what we are worth and what we need to make things work. How do you raise prices in a way that doesn't alienate your customers? ~ First crunch the numbers What are your actual costs for delivering to your customers. This should include any supplies, materials, time for actual production or delivery, but should also aggregate in your overall costs for keeping the doors open and the lights on. Then you can start to determine what your price per hour, per project, or per product should be. If you are seeing short-term, market-related increases for your costs, you may decide to just do a temporary increase and communicate that clearly to customers. ~ Time your increase strategically Your business has its own "seasons" or cycles that should inform your timing. Maybe when you launch a new product line, pricing increases. Or perhaps you re-assess pricing at the start of each financial year (which may not be in line with the calendar year). Or maybe you start mid-year with increased pricing for new customers and bring older customers on board later in the year in a more gradual fashion. You can also increase prices for most of your clients in a blanket fashion and offer a stepped increase for your best or biggest clients. ~ Communicate, communicate, communicate Nobody will be happy to see a a bigger bill than anticipated, so make sure your prime your customers as much as possible. For bigger, long-term increases, send an email out 60 days in advance with the new pricing. If you are planning ahead for the increase, start pricing new clients at the new rate as far in advance as possible. Even as early as 6mo out. I would also remind customers of the increase a few weeks before their increased invoice or autopay charge goes into effect. And more importantly, make sure you communicate why the prices are going up. Are you offering more or better service? Have your costs increased because of factors outside of your control? How has your business grown and changed since they started working with you? And finally, make sure your customers know how much you appreciate them and their business and keep your communication lines open for their feedback or even complaints. Your customers work with you because you meet an important need that they have. If you continue to deliver quality service, they will more than likely not even think twice about paying the increased prices. They probably knew you were worth it before you did! #smallbusiness #entrepreneur #womeninfinance #costofgoods #priceincrease #pricing #customer #scary #howdoi https://www.missoulabookkeeper.com/blogarchive/strategiesforreducingyourspending monthly 0.5 2022-08-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/25cabe51-2fb0-4c34-8b46-d9e2e5b3b40a/Strategies+For+Reducing+Your+Spending.jpg Blog Archive - Strategies for Reducing Your Spending. Last week we talked about credit card debt & how to get organized to pay it off in the most efficient way. If you missed that discussion and you’d like to catch up, you can find that post one click back on the lower left of this page. All up to speed? Great, let’s get serious-ish & talk about reducing that spending. There’s a lot of experts who will tell you that you can’t spend money on anything extra when you’re trying to get out of debt, but we think that’s bullshit. As we say here at Missoula Boookkeeper, “plan for the future, but buy the damn shoes''. Life is too short, ya know? Here we go… So many bills can be negotiated. Cable, cell, internet, insurance, gym memberships…basically anything that’s super easy to drop or switch providers. A quick google search will show you a thousand scripts for asking for a lower price. Personally, I’d rather sit on a hot waffle iron than be on the phone with customer service all day negotiating. I prefer to use a negotiation service. You provide your account details & they do the work. You pay them a one time fee (calculated as a percentage of the discount they negotiate) and no charge if they aren’t. Personally, I have had a lot of success with Trim, but there are several good ones out there. A couple years ago, I began to track my discretionary spending & I noticed patterns. More often than not, my larger unnecessary spending was happening towards the beginning of the month, and often on Fridays (what’s THAT about?). Maybe it’s the phase of the moon, maybe it’s the tides, maybe it’s deep psychological trauma, but something influences our buying patterns. Identifying when those bursts of spending occur can help you avoid triggers that cause you to overspend. Again, we aren’t saying don’t have fun. Go to brunch, see a movie, do a little shopping–the key is moderation. Try not to fall asleep here, but we are going to talk about insurance. So many of us “set it and forget it” when it comes to our insurance policies. Once we set it up, we rarely shop around for rates again and we just keep blindly renewing. Check out some other companies to see if you can get a better rate. Conversely, you can ask for a discount if you have been a policyholder for a number of years. Raising your deductible or bundling policies can also significantly reduce your premium. A big trend right now is having “no spend” days each month. Not only does this save you money, but there’s a positive environmental benefit. When you commit to not spending, you will find new uses and renewed excitement for things you already have, like *ahem* all those clothes in your closet. The point of this whole exercise is to save for a rainy day and pay off debt. This absolutely isn’t the time to beat yourself up or feel guilty about finances. Just do the best you can every day. Progress, not perfection. What strategies have you used to help save money? What worked, and what will you NEVER do again? Let us know in the comments, especially if it’s something crazy or weird, because we live for that shit. #smallbusiness #womeninbusiness #entrepreneurship #save #money #debt #insurance #spending #nospend #negotiate https://www.missoulabookkeeper.com/blogarchive/creditcarddebt monthly 0.5 2022-08-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/955faaf7-22d2-4924-ad76-9dd326006c1e/Credit+Card+Debt.jpg Blog Archive - Credit Card Debt: Strategies for paying it off and keeping it under control. Are you in a constant state of “treat yo self”? Are rising gas prices & insane grocery bills putting you in a pinch? Maybe you had a divorce, medical issue or other emergency where you didn’t have the savings to cover the costs? If so, the arrival of your monthly credit card bill may send you into a spiral. If you aren’t paying it off monthly & you find the balance creeping up, it can feel like falling into quicksand, but never fear! Here are a few strategies to get it paid down! Highest Interest Rate First If we are talking about more than one card, it’s important to know what you are paying as an interest rate. Allocate your largest payment to the highest rate. Once this is paid off, go to the next highest & so on until you have them all paid off. Make More Than The Minimum Payment Credit card companies are required to have a little chart on your bill that shows how long it would take to pay off the balance only making minimum payments. Refer to this and notice how much faster the process is when you pay even just a little more. Every extra dollar saves you interest down the road. Look Into Balance Transfer Transferring balances usually has a fee (3-5%), but depending on your balance, that fee may be less than you would pay in interest by leaving it where it is. Additionally, if you have recently gotten a card, sometimes they waive the transfer fee for a period of time. Look at the fine print & make sure you can pay it off in the required terms of the offer, before the rate goes up. Check out our free, downloadable worksheet to collect all the important basics, like balances, interest rates & minimum payments. For the complicated math, we recommend undebt.it to calculate payments, interest rates and fees. Once you have a game plan for paying off the balance, it’s important to strategize to reduce your spending to prevent the balance from creeping up again. Review your spending and look for patterns. Look for places where you can: Use cash Cancel subscriptions Negotiate bills (Cable, cell, and internet can all be negotiated) The most important thing you can do is commit to the process. With a plan and some adjustments to your spending habits, you’ll have those high balances wiped out in no time! Has your credit card balance ever gotten out of control? What did you do to pay it off and get your spending back under control? What tools would keep you out of that situation again? #smallbusiness #entreprenuer #womeninbusiness #debt #creditcarddebt #payoff #balance #spending #interestrate https://www.missoulabookkeeper.com/blogarchive/financialvocab-financialreports monthly 0.5 2022-08-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/e62693bd-b4a3-486b-8256-75b51b0bf1f0/financial+vocabulary.jpg Blog Archive - FINANCIAL VOCABULARY: Profit and Loss Report and Balance Sheet A is a financial statement that summarizes the income and expenses incurred by a business during a specified period of time. It is a great tool to check quarterly to analyze growth and see how your business has changed. If you are applying for a loan, your lender may ask for a current Profit and Loss. Similarly, your CPA or bookkeeper will check this report periodically to see how things are going and to identify any red flags or potential errors. A is a financial summary of a business at any point in time, calculated by subtracting all of the company's liabilities and shareholder equity from its total assets. A balance sheet is often used by lenders to gauge the company's health. This gives them an idea how much risk a company carries, how liquid its assets are, and how likely it is that the company will remain solvent. Would you like to know how to read and interpret these documents? Let us know in the comments! #smallbusiness #entrepreneur #womeninfinace #finance #balancesheet #profitandloss #financialstatements #vocabulary #accountant #bookkeeper https://www.missoulabookkeeper.com/blogarchive/cogs monthly 0.5 2022-08-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/dd9884ab-8576-4933-8328-1d84dcfa4a59/Cost+of+Goods+Sold+What+is+it%2C+and+how+does+it+effect+my+bottom+line.jpg Blog Archive - Cost Of Goods Sold: What is it, and how does it factor into my bottom line? Whatever it is, What does it cost to deliver your goods and services? If your answer is basically a mumble and some shuffling of papers, it's time to take a hard look at your cost of goods sold (COGS). Cost of goods sold is the total amount your business pays in costs directly related to delivering your product or service. This includes things like raw materials, packaging and shipping. Once you nail down your COGS, you may find that you are not making quite the profit you thought! It may be time to adjust prices, phase things out, find new sources for your materials, or streamline your processes. Even if you think you have a pretty good grasp on your costs, it's always a good idea to check back in from time to time to adjust for changes in the market. Things like increasing fuel costs (HELLO) and fluctuations in the costs of materials can creep up on you and eat into your profit. Don’t know how to start? Schedule a meeting with your CPA or bookkeeper and talk about how to break down your cost of goods effectively. They can help you figure out what factors in and track those numbers so you can make informed decisions about your pricing! Do YOU track your COGS to make pricing decisions, or are you guessing? Sound off in the comments! #smallbusiness #entrepreneur #womeninfinance #COGS #costofgoodssold #pricing #smallbusinessservices #bookkeeping #finance #accounting way you tell your story online can make all the difference. https://www.missoulabookkeeper.com/blogarchive/financial-red-flags monthly 0.5 2022-07-18 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/a7977144-a46a-43c7-bb8a-cc39dafe154c/taylor-simpson-vkjVm3VnLWw-unsplash.jpg Blog Archive - Financial Red Flags: Warning Signs For Small Business - Did You Know? July is National Ice Cream Month, National Picnic Month, National Bad Luck for Weddings Month (I know a couple of people who wish they had known this one!) and my personal favorite, National Blueberry Month. Since the 24th is also Tequila Day, let’s have some fun and make blueberry margaritas! Muddled Blueberries 3 oz lime juice 5 oz blanco tequila (I like Milagro, but you do you) 2 oz Grand Mariner Serve over ice and enjoy with your favorite book, a furry friend, your neighbor, or just by your bad self! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/5c4cf690-4c0a-4b56-b6c1-c7c5339b08b4/nabeel-syed-Jk3-Uhdwjcs-unsplash.jpg Blog Archive - Financial Red Flags: Warning Signs For Small Business - IN CASE YOU MISSED IT… Due to inflation and rising fuel costs, the Feds did a mid-year update to the mileage rate for the remainder of the year. The new rate for 2022 is $.625 per mile. If you are doing mileage reimbursements make sure to update your forms and policies as needed. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/fc437bf8-642f-47f5-b126-7ffd912b1910/bruno-neurath-wilson-FKY6We4KUPo-unsplash.jpg Blog Archive - Financial Red Flags: Warning Signs For Small Business Usually, when you hear people talk about red flags, they are referring to their latest Tinder match, but red flags are all over the place if you are paying attention. When it comes to your small business, here are a few things you should be looking for that let you know you may be in for some trouble down the road: Your accounts receivable list is starting to look like a CVS receipt. Most customers pay on time, or at least on time-ish. There's always a few stragglers, but if that list of unpaid (or slow pay) invoices is getting longer and longer, it's time for action! The longer those receivables go unpaid, the more likely it is that you won't ever see payment. It may be necessary to institute a late payment fee and policy or start to take payment up front in order to mitigate this issue. The incredible shrinking profit margin. If your cash on hand is slim and getting slimmer, heads up! With low cash flow, you will be caught in a major bind in an emergency! You could have excessive invoices outstanding or unnecessary expenses, or you aren't properly charging for your services. Time to get to the bottom of the cause and build a cushion. Your financial method is best described as "The Ostrich Approach" You rarely, if ever, get into your own books. You don't check in with your bookkeeper regularly and you couldn't identify a profit and loss report even if someone folded it into an oragami crane and tossed it in your lap. Face it, you're avoiding the numbers. We get it: financials aren't exactly a day at the beach, but ignoring it will haunt you like sand in your crack. Take this as your sign to schedule a meeting with your bookkeeper or accountant and make sure there isn't a hole in your dinghy (see what I did there?) Your pricing strategy is basically a series of wild guesses What does it cost to deliver your goods and services? If your answer is basically a mumble and some shuffling of papers, it's time to take a hard look at your cost of goods sold (COGS). Break down the costs of your overhead, materials, delivery costs, etc and calculate what it costs YOU to deliver your amazing product. It may be time to adjust prices, phase things out, or re-source your materials. Even if you think you have a pretty good grasp on your costs, it's always a good idea to check back in from time to time to adjust for changes in the market. Creeping credit card balance You had the best of intentions. You got a business card to build your credit and maybe earn some rewards. Initially, you were good at paying it off every month, but soon the balance got out of control. Maybe you had an emergency you weren't prepared for, or it was just too easy to keep that cash and put off the pay off. Regardless, it's time to develop a plan to pay down that balance and use your credit wisely. Oops, you did it again You forgot to pay a bill. It happens to the best of us, but those penalties and fees can really add up, not to mention the hit to your reputation. Get a system in place to remind you when important bills are due, or better yet, contact your friendly neighborhood bookkeeper (*AHEM*) about bill pay services. What red flags do you watch for that indicate it's time to make adjustments? Is there a pattern you've noticed and you're wondering if it's a red flag? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/womens-rights-autonomy-finance monthly 0.5 2022-07-19 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/8d486861-e8df-426a-9c38-693992b1e932/Copy+of+This+woman+can%27t+open+her+own+bank+account..jpg Blog Archive - Women’s Rights & Body Autonomy: The Financial Impact Attacks on women’s rights and autonomy have felt deeply personal lately. 50 yrs ago this life I love and work hard to create, wouldn’t have been possible: divorced mom, business owner, home owner. Our mothers and grandmothers tolerated a whole lot of shit on the road to progress, and there’s no doubt we have come a long way. When my mom was 18, women were given the right to open credit without a male cosigner and had access to safe abortion. My grandmother couldn’t open a bank account or expect equal pay and had no access to medical birth control. In 1973, when the Supreme Court ruled abortion a fundamental right, generations were impacted by the financial effects. Regardless of your personal opinions about abortion, it’s indesputable that being in control of our reproductive future has a direct effect on women’s financial stability. FACTS:: Estimates say women will be unable to terminate approximately 75,000 unplanned births in the first post Roe year alone Abortion denial leads to a years-long increase in poverty rates– including bankruptcy, evictions, inability to cover basic living expenses, and lower credit scores Without abortion restrictions, employed women 16-44 would collectively earn 101.8 billion more annually than their restricted counterparts. A woman’s income drops by 4% for every child she has The U.S. is the only industrialized country that doesn’t mandate paid sick leave or paid parental leave and already has the highest rate of maternal mortality in the developed world Low income women are five times more likely to experience unplanned pregnancy Abortion restrictions will cost the U.S. economy $105 billion annually in reduced earnings, increased job turnover, and time out of the labor force. We feel strongly about autonomy, financial stability, using our businesses to build a life and a living we love. All of these things will be deeply affected by the current policies. If you don’t agree, feel free to quietly unfollow. If you agree, then do your part. Support abortion funds in your state. Tell local and state reps how business owners of their communities feel. And support women in your lives that are feeling angry and powerless right now. https://www.missoulabookkeeper.com/blogarchive/elevator-pitch monthly 0.5 2022-07-19 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/f5dc15ce-d04a-467b-a6a2-58437942c37a/Crafting+the+Perfect+Elevator+Pitch.jpg Blog Archive - Crafting The Perfect Elevator Pitch. You know that ice breaker exercise where they say "let's go around the room and tell everyone something about ourselves" and you draw an absolute blank? Of course, you are an amazing and interesting person with a thousand things to say, but when you're put on the spot you feel like an absolute dummy? Yeah, me too. So here's the thing: the time will come when you are standing in front of a potential client (or business ally) and you only have a moment to get them on board You, my friend, need to have an "elevator pitch". Your elevator pitch is a quick way to communicate what your business is all about and gets people excited about what you do. Here are some crucial elements: Your goals and skills-- Do you have special training or knowledge that makes you stand out? What made you go into this business in the first place? What makes you passionate about what you do? Call to action-- Ask them to follow you on social media, check out your website, or stop by your store. You have something great, ask them to get involved. What makes you magic--Your magic is the reason your customer chooses you over another business. Is your product handcrafted, locally sourced, eco friendly or benefits a charity or underserved population? What problem does your product or service solve? That's the magic!! Be yourself--This shouldn't feel like a sales pitch! You have something special to offer, so be your authentic self and your passion will shine through! Don't forget to: Carry your business card Practice, practice, practice Keep it short and dynamic NETWORKING TIME! Share your elevator pitch in the comments! https://www.missoulabookkeeper.com/blogarchive/break-up-with-a-toxic-client monthly 0.5 2022-07-19 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/9c55b4fc-14d3-4fc4-985b-945e7b4d0126/Add+a+subheading+%281%29.jpg Blog Archive - How To Break Up With a Toxic Client. Have you ever used that old saying, “it’s not you, it’s me” but in reality, it’s 1000% about them? Breaking up is hard to do, but a toxic date is so much easier to kick to the curb than a toxic client. How do we know if a client is actually toxic and not just difficult? Let’s start with some habits that indicate you have a bad apple in the bunch: ? ’ /? !!--Toxic clients expect an immediate response, regardless of the hour, or they have unrealistic expectations about the turnaround time on projects. Additionally, any client that has to be constantly reminded to hold up their end of the agreement (by paying their bill on time, or providing the necessary information or materials) isn’t a good fit. ’ ?–Occasionally, a client will ask for something that's outside the scope of your agreement, but typically they understand and respect boundaries when you point them out. If your client is constantly and repeatedly asking for things they know are unreasonable, that’s a red flag. ?–Clearly, anyone who is verbally abusive or threatening is an automatic no. Additionally, anyone who is (and this is a scientific term) a hot steaming turd of a human, who mentally and emotionally exhausts you and your staff should be shown the door without hesitation. So, now that we know the signs and we have identified who needs to go, how should you handle the “breakup”? First, check your contract if you have one. Make sure you are fulfilling all of your obligations–it never hurts to check with your attorney to make sure everything is done right. Second, finish all the work you owe them so you can say goodbye with a clean slate. Last, practice what you will say. Keep it simple, and stick to your guns. Something along the lines of, “I appreciate our working relationship, but I no longer think we are a good fit. I wish you the best of luck in the future” is short, sweet and to the point. It’s always a good policy to surround yourself with people that bring out the best in you, and business is no different. You should not feel guilty about letting go of anyone that doesn’t align with your values. Have you ever had to “fire” a client? How did you handle it, and what would you do differently? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/letting-go-of-things-that-no-longer-serve-you monthly 0.5 2022-07-19 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/a9c551c3-c456-4f08-8346-e90a85e6d161/Letting+Go+Of+The+Things+That+No+Longer+Serve+You..jpg Blog Archive - Letting Go Of Things That No Longer Serve You. It could be a box of old clothes that haven't fit in a decade, a bunch of old paperwork, or a toxic friendship, but we all have things we hang on to long past their expiration date. Sometimes we hold on because we spent a lot of time or money acquiring them, maybe we feel guilty about getting rid of them, maybe we worry we will need it the second we toss it aside. No matter the complicated psychology behind it, letting go of things is tough. The complexities of parting with things absolutely apply to small businesses. Perhaps you have software that was great when you got it, but now you've outgrown it. You spent so much money on it and invested so much time on training and it feels like a waste to try something else. Maybe there's a product you offer that isn't selling as well as it used to, but you feel sentimental about its origin and you just can't bring yourself to take it out of rotation. Here are a few things to let go of when it comes to your small business: Let go of certainty. There is a finite number of things you can control. Make a plan, execute the plan, and let go of everything else. All the externals and things outside of your scope are scary af, but lying awake at night eats away at your productivity (and your stomach lining). Let go of the need to be right. No matter how small your business, all sorts of people will influence your business. Clients, vendors, employees and the market as a whole will all have something to say about how things should be. As the business owner, it's understandable to want to control every aspect of everything. However, it's important to listen to those around you and genuinely consider their ideas and opinions. Sometimes you will have to concede that your idea isn't always the best one. It doesn't make you any less the boss, but it will make you infinitely more successful. Let go of your relationship with conflict. Conflict is such an ugly word. Most of us HATE conflict, and we will avoid it when we can. While not every battle is worth fighting, it's crucial to understand that conflict is nothing more than a difference in expectations. The way you approach this difference will either enhance or destroy connections you need to survive. Shoot for the sweet spot of understanding another point of view and still respecting your own boundaries. What do YOU need to let go of? Do you have trouble letting go of things you've invested time or money in? Do you hate conflict, or do you charge towards it? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/communicating-authenticity monthly 0.5 2022-07-19 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/0f5001ba-1bf5-4572-81d9-b588d20a710a/Authenticity+in+Action+How+to+communicate+your+real+self+to+your+clients..jpg Blog Archive - Authenticity in Action: How to communicate your real self to your clients. Last week, we talked about WHY you want to be authentic with your customers, and even though you may understand the benefits, you may be wondering how to put that into practice. You knew we wouldn't leave you hanging on that one, right? RIGHT???? Define your goals and values. This may seem obvious, but the first step to expressing your authentic self is figuring out exactly who that is! Once you have a clear idea what your core values are, it will be much easier to frame your policies and interactions in ways that support those values. Shut off the "teacher" voice. It's tempting to use the "teacher" voice when talking to clients. You know the one--super positive and pleasant and you feel exhausted trying to keep it up? This doesn't just apply to direct interactions, it also means your social media posts and other interactions have to be real. Imagine you're talking to a friend and just be your lovely self. Accountability. We all make mistakes. There are times where we don't have all the answers. Hey, it's ok! Own it and figure it out together. Clients (and um, EVERYONE) appreciates an honest answer. Holding yourself accountable when you drop the ball or have to dig a little for information wins major points when it comes to authenticity. Be consistent. Like any relationship, showing up regularly and consistently builds trust and respect. Take as many opportunities as possible to show up and show your customers who you are. It's scary to be vulnerable and show people who you really are, but it's absolutely worth it. Be brave and consistent and you will be amazed at the positive impact it will have on your life and business. What steps do you take to show your customers your authentic self? How do you communicate your core values? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/what-does-authenticity-mean monthly 0.5 2022-07-19 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/e3c3322b-d83c-4ea0-b2ba-1c276ce39586/What+does+it+mean+to+be+authentic+in+small+business.jpg Blog Archive - What does authenticity mean, and why do we care? What do we mean by "authenticity" in business? Simply, we mean showing up as your real self, with all the flaws and nuances that implies. It means being transparent about your values and struggles. It means setting and enforcing boundaries that go against your core beliefs. So why should you take that leap and show the world all your vulnerabilities? Here are a few reasons you should strive for authenticity in your day to day life and business: People can relate. Whatever you believe in, whatever you struggle with, I guarantee that there are legions of people that can relate. Showing up authentically means "your people" have built in loyalty to your brand because they feel connected to you. The big bonus is the engagement you'll see when people really feel what you're putting out. Trustworthiness. In this environment, real authenticity is practically rebellious. Showing your vulnerabilities proves you are honest and trustworthy, and everyone wants to do business with people they trust! It just feels good, It takes much less energy to relax and just be than to keep up a facade. That means less anxiety, less stress and a decreased chance for burnout. Hello, business building productivity, goodbye, imposter syndrome. Your life and business will see radical change and growth when you show up authentically. People will see the real you and the quality of your customer interactions will skyrocket! What benefits do you see when you do things that feel authentic? What feedback do you get from your clients when they know you're being real? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/purplecouchauthenticity monthly 0.5 2022-06-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/3d6a64af-1991-4bda-bb02-09f155ec4acd/Facetune_14-06-2022-14-02-48+%281%29.JPG Blog Archive - The Purple Couch Story: A lesson in authenticity and letting go of things that no longer serve you. A little over a year ago, I bought a new couch. The leather reclining sofa I had for the previous 12-ish years was heavily worn from kids and dogs and multiple cross country moves. The frame on one side was sagging and it would often take multiple attempts to get the footrest to fold up just right. As I poured over pages and pages of candidates, I kept gravitating towards bright colors and patterns. Then I’d balk, telling myself to be practical and stick with something “grown up” and respectable. After weeks of looking, I was just about to settle for a definitely lovely, but absolutely boring gray sectional when I saw it– a luxurious velvet sofa in a rich, deep purple and it absolutely kicked my practical side in the ass. When I say purple, I mean purple with a capital P. The kind of color that makes guests say, “holy shit!” in a way that you’re not really sure is a compliment. I went for it, and it was the biggest expression of my authentic self I had made in a long time. Making authentic choices is scary. We spend so much time worrying about others opinions and trying to please everyone, that we end up watering down the very thing that makes us unique. We abandon our own needs and vacillate on our core values and boundaries. When we make a commitment to being authentic, we communicate to the world who we are and what we stand for. This month, we will explore authenticity, both personal and in your small business–why it matters, how to express it to your customers and the freedom that comes with letting go of things that no longer serve you. What is your purple couch? What parts of yourself have you been diluting for the sake of maintaining relationships, or gaining new customers? How does it feel to let go of things that no longer serve you in the name of a more authentic choice? Let us know in the comments! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/ed24b26f-db82-4b04-aafe-e770c24c1107/mike-petrucci-c9FQyqIECds-unsplash.jpg Blog Archive - The Purple Couch Story: A lesson in authenticity and letting go of things that no longer serve you. - Fun facts about small business… There are 28 million small businesses in the U.S., outnumbering corporations 1162 to 1 70% of small businesses are owned and operated by a single person Small businesses employ 57% of the private workforce Small businesses pay 44% of the U.S. payroll Only half of small businesses survive past 5 years, although 70% hit the 2 year mark https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/ff51d02a-73e6-46be-9e01-fad28bbb1362/dan-meyers-9FrtwO5i3Gc-unsplash.jpg Blog Archive - The Purple Couch Story: A lesson in authenticity and letting go of things that no longer serve you. Be unapologetically yourself. That's easier said than done, but most worthwhile things are. https://www.missoulabookkeeper.com/blogarchive/gettingovervacationguilt monthly 0.5 2022-06-12 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/73e03ccb-9d0e-4844-a491-e2a494f3c8b6/Vacation+Guilt.jpg Blog Archive - Vacation Guilt: Move past feeling bad and enjoy your time off. If you feel guilty taking time away from work, you aren't alone! Over half of people report feeling bad about taking time off (even when they are genuinely ill). If you have been following a while, you know that one of our core values is a healthy work / life balance. But how do you take that much needed break without the ick factor? Here are a few things to keep in mind to help you take (and enjoy) down time to pursue interests and relationships outside of your business. 1. . Taking time with your family and friends, enjoying a hobby or travel allows you the mental and physical rest necessary for better problem solving skills, fewer mistakes and a better overall attitude. 2. ..., . So many of us are spending more time than ever working from home and as a result, we are missing out on some of the natural breaks that happen in a workplace environment. This means many of us are actually working MORE than normal. So while it may feel weird to take time off when you're not physically in the workplace as much, it's especially important to create those boundaries. 3. . It's so damn tempting to check that email while you're waiting in line at the airport, or a quick voicemail before you head to the beach, but don't do it. Seriously, STOP IT. Set an out of office memo on your email and voice mail and let people know clearly and firmly that you are out of office and when they can expect a response. Then stick to it! What strategies do you use to get past vacation guilt? Let us know in the comments. https://www.missoulabookkeeper.com/blogarchive/budgetingforpersonalandbusiness monthly 0.5 2022-06-12 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/b9d4d181-62fe-4506-98d6-a3d86b611ca9/How+to+Start+Figuring+Out+Your+Budget.jpg Blog Archive - How to begin building a budget: A three tiered approach that works for your personal and business finances. Thinking about money gives most people the yucks. Where it all goes, how to get more and what if....oh, say A WORLDWIDE PANDEMIC SHUTS MY BUSINESS DOWN?!?! It's enough stress to give ya an oozing rash. But you know we have your back, so here are some strategies to employ to get your personal and professional finances in order so you can keep track of it all and prepare for whatever comes your way. First, tell me what you want....what you really, really want. I'm kidding, actually, I want to know what you NEED. The barebones, no shit number you really have to have to keep it all afloat. One of my favorite bloggers calls this the "ramen noodle" number--as in you may be eating ramen noodles, but you're eating and there's a roof over your head. Hopefully, things will never actually get this desperate, but it's good to know what that number is. Second, add in the next tier of needs. For most business owners these might be things like advertising or extra training. You definitely need these things for long term success, but they are things you could cut to save some money in an emergency. Last, are the wants. I'm not calling these things frivolous by any means. They are wonderful and important tools for business owners and can really add to the bottom line. But if you are absolutely things that could be delayed until you are financially more stable. Examples might be client gifts, employee appreciation events, or giveaways and sponsorships. Favorite blogger calls this the "sushi number". As an entrepreneur, it's tempting to leave every dime in your business and not pay yourself. Maybe it's even a case of being new to the game and not yet having the income to draw a paycheck, and that's cool. But get in the habit of taking a little something on a regular basis no matter how small and check in regularly with your financial professional to assess your cost of goods and expenses so you are maximizing your profits. Over time, you will be able to increase your pay and find a nice comfortable and predictable spot where you aren't stressing about it. When it comes to managing your finances are you a cross your fingers and hope person, or do you have a plan? Would you like us to talk more about personal finance and budgeting? Tell us in the comments! https://www.missoulabookkeeper.com/blogarchive/whatsetsyouapartiswhatmakesyougreat monthly 0.5 2022-06-12 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/9c4a38ca-3b40-4138-a2e0-6f01a9483aaa/What+sets+you+apart+can+feel+like+a+burden%2C+but+it%27s+not.A+lot+of+the+time%2C+it%27s+the+thing+that+makes+you+great..jpg Blog Archive - What Sets You Apart Is What Makes You Great. Your mom probably told you that you were someone special, and damn it--she was right! We tend to hide the things that make us different, for many reasons. Maybe it's because it doesn't feel important, maybe it's because you're worried about looking "weird" or you don't want people feeling sorry for you. But you know what? Those are the exact things that are going to create real connections with others. Be it a new friend or a potential client, those quirks will be what makes you stand out and gain loyalty. Single parent? Second generation entrepreneur? Raised in another country? Montana born and bred? Whatever makes you stand out, let that flag fly! You never know who you may inspire by unapologetically being yourself. https://www.missoulabookkeeper.com/blogarchive/bouncebackfromburnout monthly 0.5 2022-06-12 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/efe70481-d940-4d56-a959-48dd6a19a892/Recognizing+and+Bouncing+Back+from+Burnout.jpg Blog Archive - Recognizing and Bouncing Back from Burnout. We all feel burned out from time to time, especially this time of year. As school lets out and we slide into a busy summer, it feels like everything is happening at break-neck speed. While it's normal to feel overwhelmed, it's important to recognize the signs and understand when things are getting out of hand. Furthermore, once you identify burnout, it's key to have strategies in your arsenal to rest and recover. So how do you really recognize burn out? More than a buzzword, burnout is a real and serious condition that can lead to big problems. Left untreated, the consequences are serious: shortened life expectancy, chronic illness, divorce, job loss, and psychological difficulties. Here are a few of the signs that let you know that you are suffering from burnout: Poor performance Change in eating habits Sleep deprivation Difficulty concentrating Avoiding responsibilities Poor performance Loss of energy Increased bouts of illness Lack of productivity Poor performance (just checking to see if you're paying attention) Check, check, and holy crap check....right? So now what? Here are some strategies to recover from burnout, and maybe even avoid it entirely: Incorporate daily / weekly "timeouts" Set aside time for activities you love and recharge. Go for a hike, get a drink with a friend, read, endulge in a hobby, take a class. There's no wrong answer here--if spinning yarn out of your cat's fur is what makes your little heart happy, then that's what you should do. Get enough sleep "Enough" is relative. Some people need more than others, so don't go feeling guilty about what amount that is for you. Well rested people are happier, more productive and better looking (we made up that last part, but it's probably true). Self reflection Periodically, evaluate your goals and values and decide if adjustments need to be made. Something that felt so damn important a year ago, may not be serving you now, and that is perfectly okay. Take the time to evaluate your schedule and routine and eliminate the stuff that doesn't align with your ethos. Take care of yourselves, friends. Keep an eye on the warning signs and make the necessary adjustments to be your happiest, healthiest self. What do you do when you start to feel burned out? How do you get back to center when it all feels like too much? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/neveramistakealwaysalesson monthly 0.5 2022-06-12 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/007e7f3e-02aa-4fa3-875a-6e5712924d78/Never+a+mistake%2C+always+a+lesson..jpg Blog Archive - Never a mistake, always a lesson (how to deal when you f’ed up bigtime). You messed up. Maybe it was something small like forgetting to attach a document to an email, or something really big that makes you look incompetent...or worse, seem like a huge inconsiderate jerk. We have all done it at one time or another, so how do you handle it and move on with some grace? 1. Own it--The first step is honesty. You don't need to overexplain or verbally abuse yourself, but honesty is the best policy. A simple acknowledgement and sincere apology will go a long way to repairing the damage. Keep it simple, fix it and move on. 2. Keep it in perspective--Unless you're a brain surgeon, a pilot or a sniper, most mistakes are correctable. You may be embarassed, but no one is mortally wounded here. It's all going to be ok, we promise. 3. Evaluate your process--What can you do to make sure this doesn't happen again? Do your processes need to be changed? Maybe you just need to take a break to recharge so you aren't stressed and rushing. 4. Feel the feeling--You're allowed to feel bad, but only for a few minutes. Don't wallow in it. Perseverating on an honest mistake is a sure-fire way to erode your self confidence which will only lead to more problems. When I was a kid and messed up, my Dad would say to me, "what did you learn?" Remember that you can fail dramatically and go on to do huge, impressive and amazing things! The most important thing is that you learned something. What is a mistake that you made that you thought you'd never come back from? What lessons did you learn, and how did you use that to succeed? Let us know in the comments. https://www.missoulabookkeeper.com/blogarchive/personalandworkcollide monthly 0.5 2022-05-23 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/772d8d8f-80b3-4933-9910-351732c1de12/E4925E25-8A0B-42B1-B243-76C63CECBB55.JPG Blog Archive - When Personal and Professional Collide… One of our core values is self care and improvement, so soaking up a good podcast on the subject is something we do on the regular. Click here MB Spotify Podcast Playlist to see a few of our favorites. For this month’s topic, we specifically recommend “Terrible, Thanks For Asking”, “Good Inside” and “Doing It All”. What is your favorite podcast? Let us know at angela@missoulabookkeeper.com https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/58f76463-62f3-4b5b-9dca-57f86602bf13/denise-jans-laoBHO09sU0-unsplash.jpg Blog Archive - When Personal and Professional Collide… Trying to do it all and expecting it all to be done exactly right is a recipe for disappointment. Perfection is the enemy. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/0b07ae1d-d40d-4124-af16-a13cbdfa178b/5.25.21+Missoula+Book+Keeper+Stock+Photos-23.jpg Blog Archive - When Personal and Professional Collide… We regularly have conversations about the smushiness of work and personal life when you are a small business owner. For most of us the line is constantly blurred. This is especially true for the soloprenuer. If you aren’t working, the work isn’t happening. Chaos in our personal life can have a huge impact on our business and vice versa. I have personally felt this so much lately. During tax season, I would regularly be answering emails well into the night, just to keep my head above water. At the same time, I was navigating parenting a teenager, mourning the sudden loss of a much-loved dog, and trying to negotiate a tense co-parenting relationship. It was intense and I constantly felt like I was failing at everything. This month we are going to tackle how to strive for a healthy work/life balance and how to navigate challenges that can come up when you can’t keep everything in the work/personal boxes. Here are just a few things we will look at: How to communicate appropriately with customers and clients about personal circumstances that will affect your work. Today I am sending an email to a dozen potential clients who should have received a proposal a month ago. I will apologize, explain how my personal life affected my ability to deliver and check in to see if they would still like a proposal. I feel like it's important to acknowledge my failure to follow through, but also the fact that prioritizing my personal life in that time frame took precedence in order to keep my work/life balance in check. How to find team members to support you so that you can do the most important work in both your business and your personal life. This can include virtual assistants, bookkeepers, and marketers. But it also includes house cleaners, lawn mowers and child care providers. We can 100% not do it all without sinking under the weight of the responsibility. We need to delegate and prioritize the highest value work. How to prioritize your family and friends despite a crazy workload. Burnout is real and a lot of us are experiencing it coming out of the past two years. What activities or experiences give you the most peace and fulfillment outside of your work & family? Find 3-4 of varying time and financial commitment and prioritize at least 1 a week to give yourself a much needed recharge. This can be a walk by the river or a weekend of camping and hot springs. Whatever it is, schedule it into your life. How to balance the financial intricacies of business ownership. Looking at your business and personal finances to find the sweet spot for income. Planning for long term financial success in your business and personal life. And working with your financial team to strategize how to get there in a sustainable way. How to use your unique personality and circumstances to be a strength in your business relationships. I love the fact that the small businesses that I buy from or get services from are run by amazing humans that I get to know directly. I love seeing your values and personality shine through in your products, social media, and emails. Join us this month in looking at the balance of work and personal and share with us your own challenges and strategies! https://www.missoulabookkeeper.com/blogarchive/friendlyreminder monthly 0.5 2022-05-25 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/67db7a23-575b-4577-9d60-1551e23793ea/A+Friendly+Reminder+to.jpg Blog Archive - Respectfully, f*ck that. We are supposed to be small. Be quiet. Do all the things for all the people with a smile on our faces and never ask for recognition. Respectfully...f*ck that. Consider this a friendly reminder to take up space, to speak up for the things that matter to you, and be your own biggest advocate. You're AMAZING, and you don't have to wait for anyone else to shout out your accomplishments. And the next time someone tells you that you did something remarkable, put a smile on your face and respond "you're damn right I did!" https://www.missoulabookkeeper.com/blogarchive/identifyingsmallbusinessgrowthopportunities monthly 0.5 2022-05-24 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/49a12cde-eecd-482a-be5a-fccaf9177e93/Identifying+Opportunities+for+Growth+in+Your+Small+Business.jpg Blog Archive - Flowers don’t bloom by accident: Identifying opportunities for growth in your small business. I'm a bit of a plant lady, and as of late I have been marveling at the bright pink azaleas in front of my house. Every Spring, they pop up and show off. To the neighbors, it looks effortless, but of course it takes work. Small business is kind of like that. From "across the street" it seems like success just happens, but the boss (and the gardener) both know that it takes a lot of planning, time and effort for the magic to happen. Let's discuss a few ways you can identify some areas in your small business you can cultivate to unearth opportunities for growth and weed out things that are holding you back (and yes, we will be taking the gardening metaphor as far as possible, because we are frond of puns). Systems--Take a hard look at your workflow and the systems you use to keep information flowing in your business. Are they working for you really, or are you just using them because you are comfortable? Sometimes you need a bigger pot for your roots to spread out, so consider upgrading your systems to allow for more customers or broader functionality. New software can be difficult to implement and take thyme get comfortable with, but don't soil yourself. Financials--Money is a thorny subject, but understanding your cash flow is the root of your success. I beg your garden??? You HAVEN'T signed up for our Spring Strategy Session? It's time to do a deep dig into your financials and really see where your money goes and how to make it work better for you! Click here: https://www.missoulabookkeeper.com/strategy-session Vision--Find a quiet moment and plot your vision for your business. Your core values should be front and center in every decision you make from your marketing efforts, to your company policies. Lettuce do our best to direct our efforts towards grapeness. Don't moss around! Get in there and get your hands dirty planting the seeds for success. And remember--we are rooting for you! https://www.missoulabookkeeper.com/blogarchive/identifyingandplanninggoals monthly 0.5 2022-05-24 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/4b33ad1c-40ed-4b57-8fa6-2407e24bee67/Goal+Getter.jpg Blog Archive - Identifying your goals and mapping out a plan for success. "A goal without a plan is just a wish" The most successful people on earth all have one thing in common: they set goals and see them through. Goal setting is a great way to consciously manage your time and resources in a way that promotes growth and progress. Since the most important step in goal setting is writing it down, we have developed a goal setting worksheet that you can download at the link in our bio! As you dive in to achieving your goals, here are some things to keep in mind: Identify your goal Think critically about what areas you see for improvement. Are your social media / marketing efforts lackluster? Would you like to develop new services or products to offer your customers? Would you like to have better systems in place to optimize your workflow? Perhaps you want to develop a better work / life balance? Start Small We encourage you to start small to practice flexing your goal setting muscle. Once you get used to the process and see success, you will gain the confidence for bigger and longer term goals. Use Positive Language When you are writing down your plan for success, use positive language. Instead of words like "try" or "attempt", say things like "I will". Encouraging and positive self talk goes a long way. Embrace discomfort Not going to lie, parts of the process will be tough. Committing time to take the necessary steps will be difficult and you will be tempted to give up. Prepare yourself for those moments ahead of time, and commit to following through. What goals do you have in mind for your personal life and business and how did you identify those goals? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/smallbeginningsbigthings monthly 0.5 2022-05-24 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/0014b64c-ce96-4ebc-aa75-d93db943e3b5/Small+Habits+Big+Rewards.jpg Blog Archive - Small Beginnings, Big Things (Developing little habits for a massive impact). It would be great if we had the stamina to make drastic changes & stick with it, but we know that progress comes from small changes. Little habits add up over time, & just like working out, you have to flex that muscle daily in order to see the results you want. Here are a few strategies to effect positive change in your life & business. Get your sucks in a row. We all have those tasks we hate. Personally, I like to put them off for a million years, finally tackle them, realize they actually only took 3 minutes & then learn absolutely nothing from that experience and repeat the process over and over. Don't be like me. Batch the stuff you hate & attack it all at once. The sense of relief you feel knowing it's out of the way & nothing else is looming is absolutely magical. Delegate. Let's look at that "stuff I hate to do" list again. How much of that can you delegate to someone else? True story: the only reason I had kids was so I could make someone else empty the dishwasher. Ok, maybe not quite, but it's definitely a perk. Find a professional to take on some of the things you don't like doing such as inventory, payroll, social media, etc. and get your behind in gear doing the stuff you love & really have a talent for. Isn't that why you got into business in the first place? Be groovy or leave, man. Speaking of flexing muscles, boundaries are the "leg day" of habits. Every day, practice enforcing them. When you are about to abandon your boundaries, take a deep breath, and stick to your guns. Mandatory fun. Set aside some time every day to do something that makes your little heart happy. Read, journal, meditate, kitchen dance party (my favorite!), listen to a podcast, whatever. Hell, even if it's taking a freakin' nap (with ZERO guilt). Start with 5 minutes if that's all you have, and work up to a more significant block of time regularly. You can't pour from an empty cup, so take time to fill yourself up every day. What habits are you working on? What little changes have you made that made your productivity or mental health skyrocket? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/growth-and-evolution monthly 0.5 2022-04-19 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d6014caa-45c3-4cd5-bb43-6c2177982b3e/Untitled+design.jpg Blog Archive - Growth and Evolution I love spring. I love watching nature wake up and the return of the birds, warmer weather and sun. I inevitably start thinking about growth in my own life and the surge of energy and motivation that comes around this time of year definitely helps. This month we are going to explore the ways that growth can manifest in your business or organization this year. Be Strategic: “Living with intention means saying no to the things that aren’t important so we can say yes to what matters most” ~ Crystal Paine As small business owners we need to take time to assess our systems, offerings, clients and other aspects of our business to make sure that we are moving in the direction that is optimal. Sometimes we hold onto a product or a client for longer than we should because we carry a scarcity mindset or we feel obligation or unwarranted loyalty. But there is only so much time in the day and by clinging to things that no longer serve us or our business, we are holding ourselves back. What is it time for you to let go of to make room for better things? Be Consistent: “Instead of trying to engineer a perfect habit from the start, do the easy thing on a more consistent basis” ~ James Clear Oftentimes we think growth is a giant leap forward but in reality it is simply a series of small, consistent steps that get us where we want to go. Small incremental changes made over time can help us to strengthen our business, create better relationships with customers and allow us to have better work/life balance. What small habit can you change or add that will help you be a better business owner? Be Bold: “For a seed to achieve its greatest expression, it must come completely undone. The shell cracks, its insides come out and everything changes. To someone who doesn't understand growth, it would look like complete destruction.” ~ Cynthia Occelli This quote has been a constant in my life over the last decade. Growth and evolution are not generally a walk in the park. You can’t move to the next iteration without shedding some of the mindsets or patterns that are no longer serving you. And those old habits and offerings feel so fucking comfortable and the new, unknown, so big and terrifying. What is the biggest fear holding you back from growth in your business? As we soak up sunshine and watch the world spring to life, let’s find the ways to cultivate our businesses and lives with intention and commitment to bringing our unique offering to the world. If you are looking for some help as you look at your growth for 2022, sign up for one of our Spring Strategy Sessions (just click!). In these sessions we will look at your historical financial data, talk about areas in your business that you feel stuck or need a change and then map out a plan to move into growth in 2022. Spots are limited so sign up soon! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/5b5d6faf-7cd6-41a3-ac77-efeb3bedd741/jay-wennington-CdK2eYhWfQ0-unsplash.jpg Blog Archive - Growth and Evolution Did you know that recent estimates say that Missoula has approximately 1.8 dogs per household? Personally, I have at least that many animals staring at me RIGHT NOW. With that many furry friends in the community, everyone needs a place to get all the best nutrition and gear to keep them healthy and happy, Our friends at Toiffer Pet Outfitters carry a selection of earth friendly pet products that are beautifully crafted and ethically sourced. Not only do they offer local delivery, they just opened a second location! Stop in with your best buddy at 422 N Higgins or 1720 S 3rd Street West. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/ae6648b6-e0e9-4b7d-b48c-9dd49bb6e611/Blueberry%2BGin%2BSour%2BCocktail%2Bvia%2BUnusually%2BLovely.jpeg Blog Archive - Growth and Evolution - This month’s cocktail is purple and sweet and sour and ginny and all things wonderful. Like a sassed up sweet tart. If that doesn’t sound delicious, there must be something wrong with you. Blueberry Gin Sour 2 1/2 oz Gin 2 oz blueberry syrup (homemade recipe below if you wanna be a show off) lemon juice egg white Pour it all into a shaker over ice and be rude to it (the shaking makes that white all frothy). Normally we would say “pour it into a coupe glass” but just use whatever you have clean, because lord knows we have been there! I have had martinis out of a Golden Girls mug on more than one occasion, but let’s keep that a secret between us. Alright fancy pants, let’s make some blueberry syrup: add 1-1/2 c blueberries, 1/2 c water, 1/2 c sugar, and 2 Tbsp lemon juice into a small saucepan over medium heat and bring to a slow boil, stirring frequently. In a small bowl, mix together 2 tsp cornstarch and 2 tsp cold water with a fork. Slowly stir the cornstarch into the blueberry mixture, trying not to pop or crush any berries. Stirring frequently, cook for 5-10 minutes longer, or until the mixture coats the back of a spoon. Remove from heat and cool for a few minutes, then pour into a mason jar or an airtight container with a lid. Place in refrigerator to cool completely. https://www.missoulabookkeeper.com/blogarchive/be-your-own-biggest-fan monthly 0.5 2022-04-18 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/6470fc99-2e41-457c-b5a9-bf04082a6ccc/Ways+To+Be+Your+Own+Biggest+Fan.jpg Blog Archive - Be your own biggest fan. We have spent a lot of time this month thinking about mentors and the people that inspire us to be our best selves. Today, we want to talk about being your OWN hype-person. It's wonderful and important to surround yourself with people who drive and inspire you, but it's equally important to be your own biggest fan. We all have moments of self-doubt. So how do you check in and pick yourself up when fear and doubt creep in? Here are some proven strategies the Missoula Bookkeeper team uses to remember our own badassness: The '"you're doing great" file: Electronic or paper, designate a happy file. Have a picture that makes you feel great? Put it in the file. Get an email or text saying that you did a great job or made someone's day? Put it in the file. Journal about an experience where you felt especially competent personally or professionally. When you're feeling low and like you aren't making a difference, flip through and remember how you make a difference to those around you. Happy playlist Fill a playlist with music that makes you happy and feel powerful. Crank that up and drink it in when you're dragging. MB has a Spotify by the way--click here: https://zcu.io/bI0K to see the music that moves us and follow along! Stop following SM accounts that make you feel bad about yourself We all follow some of those accounts that are "aspirational", and while it's great to push ourselves to higher standards, those influencers can often leave us feeling empty and insignificant. If you are watching someone on social media and you find yourself just feeling bad and "less than" in comparison, delete that garbage. You're the bees knees, baby, and don't go comparing your real life to someone else's highlight reel. What do you do to hype yourself up when you're feeling down? Drop it in the comments! https://www.missoulabookkeeper.com/blogarchive/im-not-bossy monthly 0.5 2022-04-18 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/71496fee-c5a8-406e-9603-c678c44008b1/I%27m+not+bossy...+%28I%27m+THE+boss%29.jpg Blog Archive - I’m not bossy. I’m the boss. Women often have a way of thinking about others ahead of themselves. We make adjustments for the comfort and well-being of those around us almost unconsciously. As a result, we often undermine ourselves and diminish our unique and wonderful contributions and ideas. Here are a few ways we often sabotage ourselves, and how to use your boss voice: "I actually have something to add..." or "I'm just wondering..." The word "actually" sounds like you're surprised you have something to add and "just" shrinks the significance of what you say. Practice dropping them both. Once you are watching, you will ACTUALLY be surprised at JUST how often you use them! "I'm no expert, but..." or "I don't really know much about this, but..." Starting a sentence with any statement that indicates that you might be wrong or dumb does you a significant disservice. Maybe you fear criticism, maybe you are worried you are wrong, but whatever the reason, show people you stand by what you say. Separation between statements and questions. The vocal fry phenomenon is real, and it's killing us. We have all met that person whose voice goes up at the end of everything, making it all sound like a question. When you express yourself in this way, it makes it seem like your opinions are up for debate. "Do we think we should..." Similarly, softening your opinion by introducing it as a question may sometimes have strategic benefits, but really all you end up doing is distancing yourself from your own good idea. Any of these sound familiar? We encourage you to be more aware of these self-diminishing habits and commit to communicating in a way that is powerful and authentic. Women of the world, we need your opinions and ideas! Embrace them and begin sharing them loudly and without apology. What patterns have you noticed in your own communication that have helped or hurt your ability to be heard? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/become-the-mentor monthly 0.5 2022-04-18 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/0737cb1f-5c71-4e0e-9ab2-236d094299fe/Become.jpg Blog Archive - Become the mentor… Mentorship is an incredible tool. It allows for growth and collaboration, professional guidance, and exposure to new ideas. Just as surely as we are looking to others for inspiration, someone is looking to us. What does it mean to be a mentor, and more importantly what can we do to effectively inspire and lead others? Ask questions. Questions allow people to think critically about situations and come up with their own solutions, rather than just blindly following directions handed to them. Also, questions encourage your mentee to dig deeper into problems and challenge assumptions they may be making. Make introductions. Introducing people that can help each other professionally or simply offer a shoulder to lean on helps everyone achieve more! Tell stories. Share your experiences, both successes and failures. This vulnerability builds rapport and allows your listener to see that they are not alone in their struggles. Any gesture, big or small that shows you genuinely care and want to help means you are a great mentor. Make it a priority to reach out and be available to anyone that could benefit from your experience. We especially encourage you to lift up under represented groups, such as the female, LGBTQIA and BIPOC members of our community. Let's root for each other, and watch each other grow! https://www.missoulabookkeeper.com/blogarchive/building-a-board-of-directors monthly 0.5 2022-04-18 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d941c42e-2df8-4fd5-9da4-e6327a39ff14/Building+a+board+of+directors.jpg Blog Archive - Building a board of directors You may be thinking that as a small business, you don't have a board of directors, but hear me out. Your personal board of directors is made up of literally anyone (what would Oprah do?) that influences the values and goals that you use to make day-to-day decisions. Being that it's women's history month, we are obviously highlighting women, but we don't discriminate--anyone that invests in your progress is important. These influencers are diverse, but here are a few categories they might fall in to: The Networker- This is someone who ALWAYS "knows someone". They open doors for you in your industry, introduce you to other professionals that help you grow, and are typically the first person you think of when you are looking to make connections. They are essential to building your network. The Mentor- Maybe it's a business coach, industry veteran, author, or community leader, the mentor has first-hand knowledge of the day-to-day challenges you face. They have the gift of experience and hindsight to help you navigate the challenges of growth. The Conscience- This is the first person you go to when you wonder if you are doing the right thing. They help you trust your gut and keep you in check when it comes to honoring your core values. The Idol- This is someone who you aspire to emulate. They have built the life / business you are working towards. Personally or professionally, they embody your values and the trajectory you want for yourself. Who drives and influences you? Tag someone on your board of directors in the comments and let them know! https://www.missoulabookkeeper.com/blogarchive/board-of-directors monthly 0.5 2022-03-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/6c84ff4d-42d6-449e-8808-f198f99f3c41/krakenimages-7BpuzmcxlHU-unsplash.jpg Blog Archive - Your “board of directors” - February Challenge Challenge one: Identify 3-5 people who influence your values and choices. In light of Women's History Month, we encourage you to reflect specifically on women in your life, but obviously anyone can make up part of your board as well. They can be people you actually know or a celebrity / author. Challenge two: Write a couple sentences (for yourself) about how they shape your choices and what values they represent. BONUS Challenge: Send a text, email, or (GASP) handwritten note to a woman who has influenced you and thank her. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/7207cbd1-3555-44fd-9d10-12eb564065c7/becca-tapert-u5e1kqW6E3M-unsplash.jpg Blog Archive - Your “board of directors” As we cruise through Women’s History Month and into spring, we here at Missoula Bookkeeper have been reflecting on the women who have brought us to where we are today. This list includes mothers, grandmothers, sisters, but also pioneers and innovators who have inspired us and pushed us to be better versions of ourselves. I love to read non-fiction about ordinary people who live extraordinary lives. Women on this list include: Beryl Markham, Lynn Cox, Jane Goodall, Sylvia Earle or Ruth Bader Ginsburg. I also love to learn about women in my family history that pushed the edges of what society deemed proper. These heroes include my great, great grandmother who left Sweden with three small kids after her husband died to settle in a tiny cabin in Montana or my great aunt who joined the Navy WAVES in WWII to keep an eye on her little brother (my grandpa) or my grandmother who raised 7 kids (3 sets of twins, no less!!) in a tiny house the size of my living room. Obviously, many of you are not women, but I know you have your own list of extraordinary females and I invite you to reflect on how their influence has brought you to be who you are both professionally and personally. A few months ago, Angela shared a piece with me about developing a “Personal Board of Directors” and this resonates with me as I think about the women who have come before. Reflecting on your own Personal Board of Directors is a way to formalize (even just in your own head) the list of people who you go to regularly for advice and direction. This could include a respected colleague, your tech savvy millennial neighbor, the older mom who has survived everything from terrible twos to angsty teens or even the innovator whose biography you regularly pick up for inspiration. Some people on the list may be more aspirational than practical, but that is the magic of this very informal group. You may never get everyone together for a formal meeting, but they probably have more influence over the direction you take than you realize. And as the soloprenuers that many of us are, we need those relationships and connections to push us out of our comfort zone, or maybe caution us against making a rash decision. There is power that comes from using your team and your circle. This month we will share inspiration from women we admire and share a bit about the members of our own personal boards of directors. I encourage you to take some time to pencil out your own list and keep it where you can see it regularly. As another amazing woman, Helen Keller, said, “Alone we can do so little, together we can do so much.” https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/197defe0-b5a0-48b0-a2e2-74c83706cc1c/download.jpg Blog Archive - Your “board of directors” - New download available: BASIC FINANCIAL VOCABULARY Sometimes, small business can feel like a foreign language. If you have ever wished you had a little primer for financial lingo so you don’t feel so clueless, we are here to help! Click here to download: BASIC FINANCIAL VOCABULARY! https://www.missoulabookkeeper.com/blogarchive/what-happens-during-a-consult monthly 0.5 2022-03-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/49d45811-e3fd-4644-ae72-a80501468a41/We+get+that+all+the+time%21+%286%29.jpg Blog Archive - Booking a consult feels scary. We get it, booking a consult can be a little intimidating. It feels heavy and scary and uncertain. So many small business owners avoid seeking out help they need and want because they don't know what to expect. Here is a rundown of the big worries we hear a lot: Worry one: What even happens during a consult and what will it cost me? Consults are 30 minutes long, and we will chat about your business, what your goals are and getting a very general idea of where you are financially. You will have an opportunity to ask us anything you like about our services. Best of all, consults are absolutely free. Worry two: My books are a mess, I have NO idea what's going on financially, and I don't want you to see how much money I spend at Starbucks. First and foremost, this is a judgement free zone. It's your money, and no one should shame you about how you spend it. It's our job to help you identify your goals and empower you to make your OWN decisions about making it work for you. Furthermore, we don't expect you to have everything in order or have it all figured out. That's literally our job! Worry three: I'll feel obligated to commit to signing on right then and there, Nope, not at all. After we talk about your business and what your goals are, we will say goodbye and get to work putting together a proposal that outlines your needs and the no B.S. price for you to review ON YOUR OWN TIME. There will be zero expectation for you to commit at the consult. What are you waiting for? Schedule a consult here: missoulabookkeeper.com/book-a-consult and start on the road to financial empowerment! https://www.missoulabookkeeper.com/blogarchive/splitting-the-bills monthly 0.5 2022-03-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/67a5e69b-2fec-4129-b741-346d39b2cb23/%28but+how+do+we+split+the+bill%29.jpg Blog Archive - All you need is love…and a plan for the bills. When we decide to share our lives & finances, there are all kinds of complicated & messy decisions involved. There is no right or wrong way to divide up the responsibilities, but here are a few suggestions that may work for you. Everything 50/50. Duh, right? All expenses right down the middle. This is a clean & simple solution if you & your partner are making roughly the same income. In this scenario, there could be a shared account for just bills / combined expenses. The rest of your income would be in an individual account for your personal expenses & discretionary spending. Percentage. This is similar to the arrangement above, but instead of 50/50, your individual contribution to the shared expenses is based on your percent of the total income of the household. For example (using simple math because it's late and I had wine with dinner), if the total household income is $100K, with you contributing $65K, you would pay 65% of the expenses and they would pay 35%. This makes things equitable for couples with a gap in income. There is potential for the higher earner to develop some resentment here, so it's important to communicate & check in regularly. Combine everything. There's a whole lot of trust and transparency required here folks, and it's not for everyone. All the money goes in one big pot and everything comes out of it. It's nice way to balance out fluctuations in income, but it also means that everyone is all up in your business about what you spent at Target. I think flowers are much more romantic when you don't have to see the bill, but maybe that's just me. No matter if you choose a method above or something else entirely, honesty & communication are HUGE. You have to be on the same page about your financial values & realistic about your budget expectations. Furthermore, it's important to factor in emergencies & potential changes in income so you aren't totally thrown off if disaster strikes. How have you navigated this topic with your mate? What mistakes could others learn from, and what habits have made you successful? https://www.missoulabookkeeper.com/blogarchive/choosing-a-beneficiary monthly 0.5 2022-03-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/7c79e04e-bc03-49e9-b79a-f518d6d8e280/Choosing+a+beneficiary+for+your+life+insurance.+%28It%27s+not+as+simple+as+you+think%29.jpg Blog Archive - Choosing a beneficiary for your life insurance. When it comes to designating a beneficiary on your life insurance, it seems like a no-brainer. You name your spouse or kids, right? Not so fast. There's a lot of things to consider when choosing a beneficiary that may not have even crossed your mind. Here are a few questions to consider: What happens if I don't name a beneficiary? If you decide to not designate anyone, the proceeds will be paid to your estate & a probate court will have to decide what happens to it. This is an expensive process that will chip away at those funds, and they may not end up in the best hands in the end. Should I name my children? State regulations dictate how much money a minor can receive from a life insurance policy & a guardian may have to be appointed, once again slicing into the money that your child actually gets. Additionally, it's a very lengthy process, tying up that money indefinitely. What about a disabled friend or family member? Anyone receiving SSI and / or Medicaid could have their benefits reduced if your "gift" substantially increases their income. Who can I designate besides a family member? You may consider a charity, a trust, or your estate. If you have a business & you want it to continue after your passing, a business partner may be the most logical designee. What if the person I designate isn't eligible ? You have the option of naming a contingent beneficiary if the primary can't be located, refuses, or is found to be deceased. Finally, it's important to note that if the details in your will don't match the actual policy, the policy wins. That policy is a legal contract, so make sure to keep both documents up to date to avoid confusion and legal red tape. There's a lot to unpack here, but it's important to understand the ramifications of your choice so the dollars you so thoughtfully set aside can do the most good and truly have the impact you intend. Don't forget that one of the challenges this month is to find a life insurance professional to discuss your needs. Have you already completed the challenge? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/custodial-investment-account monthly 0.5 2022-03-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/053e396c-a0b9-41a2-b491-a55656d90c5c/We+get+that+all+the+time%21+%285%29.jpg Blog Archive - What is a custodial investment account? A Custodial Investment Account is an investment account that is in a child's name but managed by an adult. Contributions to this account can come from anyone and funds may be withdrawn while the child is a minor as long as it is for their direct benefit. Custodial accounts are easy to open, and doesn't require an attorney like a trust does. While it offers a lot of flexibility, it's important to note that there are significant things to consider before you dive in. First, there ARE tax implications at certain thresholds. Be sure to look into the specifics for the parents income bracket and residency. Also, since the account is in the child's name, the asset may effect their ability to get financial aid in the future. Do you have a custodial investment account for your child? Did you chose another type of savings for your kids? Are you apprehensive to jump in because of your financial situation or maybe just don't know where to start? Let us know in the comments! https://www.missoulabookkeeper.com/blogarchive/wills-and-life-insurance monthly 0.5 2022-03-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/bb30b563-7b43-469d-a35b-c4a8e3d18e0f/Finance+and+Relationships+Wills+and+Life+Insurance.jpg Blog Archive - Money and Relationships: Wills and Life Insurance Wills and life insurance: No one likes to talk about it, & it's really easy to avoid the topic because....well, you'll be dead & no one can yell at you for not dealing with it. The bottom line is this: an uncomfortable conversation now means peace for those you love. Death is hard enough without also having to make profound financial decisions at the same time. Wills: There are several kinds of wills, but a simple will or "last will and testament" is fine for most people. If you have a business, a lot of assets, or a complicated estate, a living trust might be a better option. An estate attorney is your best resource to determine what is best for your particular situation. When preparing to meet with an attorney, you will need to determine what assets to include, decide who will get those assets, choose a guardian for your minor children if applicable & choose an executor. An executor is the person who will carry out your final wishes by distributing the assets listed, paying your debts, etc. This role can sometimes be an added burden to loved ones, so some people opt to pay a professional to serve in this role & their fee comes out of the estate. You should revisit your will from time to time. If you move, acquire assets, gain / lose family members, or have other major life changes, you should make updates. Life Insurance: A life insurance policy isn't based on a number picked out of the sky, there is a real method to the madness that is choosing the benefit that is right for you. This amount reflects not only the dollars needed to cover final expenses, but also outstanding debt and potentially the amount of your financial contribution to the care of family members. It's important to note that "financial contribution" isn't just a paycheck. For example, the loss of a stay-at-home parent would create significant child care costs. An insurance professional can guide you to the type of policy and coverage amount that is best for you. Share this post with your loved ones as an easy way to open up the conversation about end of life financial decisions & make your wishes known. https://www.missoulabookkeeper.com/blogarchive/finance-and-relationships monthly 0.5 2022-02-21 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/c9b4a47e-3aed-4376-b4e3-6be284135742/jenny-pace-yBz_o25M2zY-unsplash.jpg Blog Archive - Finance and Relationships. - It’s no secret that we enjoy a good cocktail (or two)… Is there anything sexier than a martini? And with all the varieties, there’s definitely one for all tastes. Grab your favorite human and share this yummy pink version! FRENCH MARTINI 2 oz Vodka (you can absolutely substitute gin, if that’s your jam) 1 1/2 oz pineapple juice 1/2 oz Chambord liqueur garnish with a raspberry and a lime twist https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d4a522aa-4b84-413c-ae39-0ef0fff4b2df/szabo-viktor-KgfInx384fk-unsplash.jpg Blog Archive - Finance and Relationships. - Follow us on PINTEREST! Useful financial and small business info along with all the cool stuff that lights us up and makes us the cool individuals we are. https://www.pinterest.com/Missoula_Bookkeeper/ https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/c2d63284-a4bc-4443-92e9-d21aed746cb1/debby-hudson-jcc8sxK2Adw-unsplash.jpg Blog Archive - Finance and Relationships. Finances and relationships. Yep, we said it. This is a combo that brings a slew of feelings to the surface. And we’re not just talking about romantic relationships, but also your parents, children, roommates, employees and business partners. Sometimes we want to just avoid the topic all together because there seems to be too many landmines, but that only makes it worse. This month, we are going to explore some of the spaces where our finances and relationships intersect and how to make them more organized and more transparent, less scary and less overwhelming. Here are just a few rabbit holes we will peak into: Finances in romantic relationships: it can be such a hard conversation to have, but you need to have open communication about what will be separate and what will be joint, how to budget, how to make changes, how to plan for the future. Money can't buy love, but avoiding the topic may bankrupt your relationship. Financial boundaries: Whether its an official document like a partnership agreement, prenup, rental agreement etc, or just a list of the hows, whats and whys of your financial choices, its important to have a framework. The more specific these tools are, the less relationship angst you will need to deal with because the rules and agreements should be clear. Education Savings Accounts and Custodial Investment Accounts: not only can you plan for your own future, you can start to plan for your kids as well and teach them savvy financial habits and tools so they hit adulthood ahead of the curve. Special needs trust or ABLE account for children and loved ones with intellectual or other life long disabilities. It's never too early to start planning. Retirement planning and end of life care: you don’t want your kids to be stuck taking care of you, so you need to plan ahead. We’ll talk about tools and resources to help. Wills and life insurance: No one likes to talk about it, but by getting these pieces in order, you are helping out surviving family members when they are dealing your loss. Nothing tears at the fabric of a family like death, and the more you can square away ahead of time, the more disagreements and arguments can be avoided. Beneficiaries: Not only should you have beneficiaries and contingent beneficiaries on your various accounts, you should check in from time to time and make sure they are still relevant. Did you have children, get married or divorced, or other major life changes and forget to change those designations? How much would it cheese you to see your ex get your life insurance policy? Yeah...that's what we thought. We hope you’ll join us this month as we explore some topics that make us all squirm but when managed well can be game changers for us as business owners and humans. What is the biggest financial challenge you face in your relationships? https://www.missoulabookkeeper.com/blogarchive/gobinder monthly 0.5 2022-02-12 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/a4502f40-90fe-4eeb-99a6-ea4e7399d953/Let%27s+Get+Personal+How+I+got+my+%24h%21t+together+and+stopped+the+middle+of+the+night+where+is+my+social+security+card+panic.jpg Blog Archive - Let’s get personal: How I got my shit together and stopped the middle of the night panic. I have anxiety. I used to be struck with random panic, wondering the location of personal documents--you know, the ones that are super important, but you rarely use. I'd lie awake imagining horrible scenarios where I would need a certain thing and not be able to find it. Finally, I bit the bullet and developed a system that works for me (and could easily be implemented for business as well). First, I got a binder and dividers, and some of those clear pages that open at the top. I can see things easily and I don't have to unpack a bunch of folders and files. Then, I created a section for each household member (pets included!), one for vehicles, and one for household. Time to gather documents! Here are a few items I included & some things that may apply to you: For family: Birth certificate Marriage certificate Death certificates Immunization record / medical records (or vet records for pets) Social security card Passport Divorce decree / name change documents Military service record Copy of life insurance policy Will / Living will Power of attorney Health insurance cards School records (including enrollment, eligibility and IEP's or 504 if applicable) For vehicles (including boats, campers, trailers, etc): Title copy of registration Copy of insurance Major service records Household: Mortgage documents Warranties on appliances or repairs Major maintenance / repair records Property tax records lot plat HOA information Records on fencing, alarm system, etc Miscellaneous: Note credit card numbers, bank account numbers and corresponding contact info so that if your wallet is lost or stolen, you can cancel them immediately and you don't forget about any. Here is my biggest tip. Invest in a fireproof safe. Even a small one is big peace of mind if the unthinkable happens (I got mine for less than $100). Additionally, that's a LOT of personal information in one spot, so it's important to keep it secure in the event of a break in. Hope this motivates you to gather some things together and get some peace of mind! What else would you add to this list? Sound off in the comments! https://www.missoulabookkeeper.com/blogarchive/thebigpictureandyourcreditscore monthly 0.5 2022-02-12 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/72406904-8e19-4f8a-b38e-e7dab06d204d/the+%28financial%29+big+picture.jpg Blog Archive - The financial big picture (how your credit score relates to your business) The day to day machinations of business can make it easy to get lost in the small details. It's important to step back from time to time and take a look at the big picture and your overall financial health. There are a couple easy things you can do to make sure you're staying on track: Pull your credit report: You can pull your credit report each year for free and you should definitely take advantage of this tool. During COVID, free weekly credit check ins are available as well! Visit https://zcu.io/EQKR to download your free reports from all 3 major credit reporting entities. Keep an eye out for unusual activity and be sure to report inaccuracies. Sign up for ongoing credit monitoring services: There are free and paid services online. Your credit cards may offer this services as well. This is a great way to stay on top of your credit. Much like a regular check up with your doctor, these steps prevent big problems down the road because you can identify potential issues before they become serious. What other steps do you take to make sure your overall financial well-being is on track? Comment below or send us a message! https://www.missoulabookkeeper.com/blogarchive/cuttingdownonjunkmail monthly 0.5 2022-02-12 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/cb76d97c-dd60-4c9b-9721-5fff51ccab03/HELP%21%21+I%27m+drowning+in+mail%21.jpg Blog Archive - Cutting Down on Junk Mail I am always disappointed when I open my mailbox, it seems like all I get is junk. Not only is it terrible for the environment, it creates unnecessary clutter in my life and on my desk. Here are a couple ways you can cut down on the crap and simplify your life. If you have online banking access, you should be able to see bank statements going back a year. If you don’t use online banking, or if it doesn't go back as far as you'd like, your bank will email you a PDF of statements going back up to 7 years or more! Unless you regularly reference your statement or you are closing out the account, there isn’t a reason to get that statement in the mail each month. Some banks even charge for mailing a statement, so why not save that $5 and declutter at the same time? Kick junk mail to the curb. There are two ways to slow the onslaught of junk mail. First go to https://zcu.io/Lff5 and opt out of marketing mail. This costs $2 and is valid for 10 years. Next go to https://zcu.io/2pC8 and opt out of pre-approved credit card offers. This is a free service of the credit bureaus. These are a couple very fast and easy ways to cut down on all the extra garbage clogging your mailbox. The planet and your postal worker's back will thank you as well! https://www.missoulabookkeeper.com/blogarchive/howlongtokeepdocuments monthly 0.5 2022-02-12 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/782cb9be-62bb-41cf-bda3-436560bba778/how+long+do+I+have+to+keep+financial+documents.jpg Blog Archive - How long should I keep Financial Documents? Your favorite jeans from high school, 900 receipts in the bottom of your bag, old boyfriends...If you’re like me, you may hold onto things way longer than you need to. You may be looking at your files and thinking, "how long do I need to hang on to this crap?" Here are some guidelines for how long you need to keep your financial documents: Receipts, statements, invoices and supporting documents - 3 years Employment tax records and payroll - 4 years Income records - 6 years Documentation for bad debt deduction - 7 years Old tax filings and documentation - 7 years If these kinds of documentation have reached their deadline, toss them like an old piece of fish. And don't forget to SHRED EVERYTHING to protect yourself from identity theft! It's time clear out space! https://www.missoulabookkeeper.com/blogarchive/sprucing-up-your-financial-life monthly 0.5 2022-02-03 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/92675abb-6d7a-4f4e-a8f0-5ee5ae8e929e/allisonreeves.jpg Blog Archive - Sprucing Up Your Financial Life. - Client Profile: The General Public We love our clients, and we especially love great style. Let us introduce you to The General Public! Located in the historic Florence building, The General Public is an amazing shop that focuses on curating unique goods from thoughtful and ethical designers. The next time you are downtown, stop by and visit Allison and the gang and check out all they have to offer! The General Public https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/39b75489-5f3c-4b79-900f-896670bd9694/sam-moqadam-baII27W6z7k-unsplash.jpg Blog Archive - Sprucing Up Your Financial Life. “A good system shortens the road to the goal.” https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d3ba57ac-705e-4f21-b24d-55894950cf0a/jeshoots-com-__ZMnefoI3k-unsplash.jpg Blog Archive - Sprucing Up Your Financial Life. I am not an innately organized person. This may seem strange given my chosen profession, but most of my systems and organization has been learned over time and is strongly tied to necessity rather than preference. One of the ways that I stay on top of things is to schedule time for organization. It ain’t gonna happen if I don’t. The new year always seems like the perfect time to do some of that work. As you hunker down in the cold and gray and prep for taxes, here are a few steps you can take to get your finances in order and clean out the crap that has piled up over the year(s). Organize files from the previous year. This can include all or some of the following: Getting receipts organized in your system of choice (files, envelopes, or scanned to an app or cloud folder) Download and save all bank statements for the year (physically or digitally) Download and save all payroll tax documents (physically or digitally) Run and save a final Profit & Loss and Balance Statement for the year. (physically or digitally) Shred old files. If you’re like me, you may hold onto things way longer than needed because it's just sitting in a file cabinet. (hello, my taxes from 2007…) Here are some guidelines for how long you need to keep things. Receipts, statements, invoices and supporting documents - 3 years Employment tax records and payroll - 4 years Income records - 6 years Documentation for bad debt deduction - 7 years Old tax filings and documentation - 7 years If they have reached their deadline, let’s shred everything to protect yourself from identity theft and clear out space both mentally and physically. Stop unnecessary mail. Most of us have online banking access that provides us with bank statements going back a year. And if you don’t, your bank will email you a PDF of statements going back up to 7 years at least. Unless you regularly reference your statement or you are closing out the account, there isn’t a reason to get that statement in the mail each month. Some banks even charge for the service, so why not save that $5 and declutter at the same time? Get less junk mail. There are two ways to slow the onslaught of junk mail. First go to DMAchoice.org and opt out of marketing mail. This costs $2 and is valid for 10 years. Next go to https://www.optoutprescreen.com/ and opt out of pre-approved credit card offers. This is a free service of the credit bureaus. Check in on your financial big picture. Pulling your credit report each year is something you have access to for free and you should be taking advantage of that. During COVID, they continue to offer free weekly credit check-ins as well. Visit https://www.annualcreditreport.com/index.action to download your free reports from all 3 major credit reporting entities. Sign up for ongoing credit monitoring services. There are free and paid services online. Your credit cards may offer this service as well. This is a great way to stay on top of your credit. Ditch your password notebook (or your faulty memory) and add an extra layer of security to your financial life. Password managers provide encrypted vaults to store passwords and other sensitive documents and info. Here at Missoula Bookkeeper, we use LastPass but there are several other good options. Our plan allows us to store credit card info, passwords, and document images, like passports. Hopefully taking these steps will get your year started on the right foot and keep some of the chaos at bay. Another tool we love to use is accountability. In that vein, Missoula Bookkeeper will be posting monthly goals that you can choose to complete with the camaraderie of other small business owners like yourself. We will also be offering a few select spots each quarter for in depth financial analysis and planning. These sessions will help you understand your historic financial data and make big plans for the future. Let’s move into this new year with a little less clutter (both mental and physical) and a lot more tools to help us succeed as small business owners! https://www.missoulabookkeeper.com/blogarchive/2022-challenge monthly 0.5 2022-12-22 https://www.missoulabookkeeper.com/blogarchive/1099 monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d47b57c8-4119-4ef2-b52f-8efc82423285/The+Lowdown+on+1099%27s+%281%29.jpg Blog Archive - The Lowdown on 1099’s Oh, the joys of the end of the year and preparation for tax time! Today, let's take a quick look at 1099's and who gets them. Vendors must meet the following criteria: 1. They provide a service, not products 2. They were paid more than $600 in the year 3. They are not a Corporation. 4. They were not paid with a credit card. Most of these will be in Subcontractors/Contractors or Legal and Professional Services type accounts. Generally speaking, if you are unsure it's best to check in with the vendor and ask if they require a 1099--it's better to check than miss someone. You will need to get a W-9 which will provide their EIN, official business name as listed with the IRS, mailing address and email. The deadline to file these with the IRS is January 31, 2022. Your bookkeeper or accountant can file these for you and may have in the past. Be sure to check in to see what they need from you. For all of Missoula Bookkeeper's current clients, we are handling this for you and will be getting in touch to get the necessary information. It can be SO HARD to pin people down this time of year, so get on this project ASAP to save yourself a lot of stress come tax time! https://www.missoulabookkeeper.com/blogarchive/gimmie-a-break monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/4d20658e-600d-4214-bc52-a47bb3eb433a/Take.+Five.+%281%29.jpg Blog Archive - Gimmie a break. We are all guilty of it: you login to your computer and get to work and then the next thing you know the day is gone and you haven't stopped once. It's so easy to get lost in the day and overwhelmed by the metric ton of crap in your inbox that you forget (or more likely, AVOID) taking a break! Try a new habit: set a timer to go off at intervals that work for you and take five (or more) to reset. Here are some creative ways we like to blow off steam: Stretch. How long have you been hunched over that desk? Can you even turn your head to the side anymore? Me either! Stand up and stretch your neck and shoulders. Bonus points for a quick walk. Gratitude. Chances are, someone in your world has done something for you lately that really saved your bacon. Take a minute to send a text, email, or write a handwritten note (SO VINTAGE!) just to say thanks. It doesn't matter if it's personal or professional, or for a big or small act, a little thank you goes a long, long way. While you're at it, why not start a little list of things you're grateful for? It's a wonderful way to refocus when you are feeling yuck. %$@!. Maybe swearing will help. Seriously. When you are beyond stressed and just can't take it anymore, there's nothing like a good old-fashioned expletive laced rant to bring that boil back to a simmer. Hide in your car if you have to, but don't bottle that $h!t up. Get weird. Personally, my favorite way to reset is a one woman dance party. Crank up the music, and let that freak flag fly. Work up a little sweat, and remember if that if Britney can make it through the last decade, you can make it through this day. Then get back to work, b!tc$ Whatever it takes to make you feel like a real human again, do it. No idea is too weird if it works for you. Consider little breaks as brain maintenance to keep you performing at your best. Let us know in the comments: what is your favorite way to blow off steam and reset during the day? https://www.missoulabookkeeper.com/blogarchive/the-art-of-delegation monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/2acc4a09-462b-4866-9f18-3d3b712b3043/The+Art+of+Delegation...+%281%29.jpg Blog Archive - The Art of Delegation. We know some GREAT artists, yoga instructors, real estate agents, plumbers, consultants, lawyers and various entrepreneurs. You know what the secret to their success is? They put their whole heart into the aspect of their business they love, and they find a competent team to help them with the rest. Yep...if we've said it once, we have said it a million times--DELEGATION is the name of the game! It's tempting to try to handle it all, but there's no need to be Jill-of-all-trades. Outsource the stuff that simply isn't worth your time or bandwidth. Bookkeeping, HR, social media management, payroll, invoicing and the like can be more efficiently managed by another professional, freeing you up to be the shining star you are. Imagine what you could accomplish with that extra time and energy! Drop us a message or comment below: What aspect of your business would you love to pass along? Let's talk about what Missoula Bookkeeper can do to help you on that journey! https://www.missoulabookkeeper.com/blogarchive/unplug monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/8b9abd22-f0ed-44ca-bfef-aab3247fc2c1/Unplug..jpg Blog Archive - Unplug: How to set healthy boundaries and enjoy your real life. This month, we are focusing on work-life balance and strategies for hitting the sweet spot between productivity and sanity. A big way to prioritize the life side of the equation is a commitment to unplugging. Unplugging may take many forms. Today, we will focus on two ways you can set healthy boundaries. First, establish a "quitting time" and commit to stepping into civilian mode at a certain hour. Shut off the computer, stop checking your email, and hang the cape in the closet. You can be Super Entrepreneur tomorrow, it's time to focus on yourself and your family. If you work from home, you may even consider moving your home office to another part of the house and closing up shop, so to speak, so you aren't tempted to do "just one more" task. Second, step away from your phone, computer, TV or anything else that pulls your attention. Resist the urge to get lost in in social media or other fun time wasters (lookin' at you, Tik Tok!). Doing things you love like reading, writing, quality family time, or investing in a hobby or club is something that makes you a happier and more well-rounded person. Don't you DARE feel guilty about investing in yourself. You can't pour from an empty cup, folks. Remember to take care of yourself and you will be a much happier and more productive business owner, boss, friend and family member. Hit that reset button every day! https://www.missoulabookkeeper.com/blogarchive/itsallaboutboundariesbaby monthly 0.5 2021-12-07 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/ac94b92d-1374-4328-8477-2b6b0fa098d5/7.20-MissoulaBookkeeper-RioChantel-21+%281%29.jpg Blog Archive - It’s all about boundaries, baby. - From your friendly neighborhood bookkeeper… As we reach the end of the year and start preparing for 2022, we want to say some important things, so settle in for some monumentally sappy stuff. Missoula Bookkeeper has grown so much this year, and we are honored that you are part of our journey. We look forward to serving you in bigger and better ways in the coming months, and we are absolutely on the edge of our seats to see what amazing things YOU have planned. From the bottom of our hearts, thank you. We sincerely appreciate you. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/24bbdaf6-fb29-4fec-8e98-3ef52ec383f1/tim-mossholder-3asJCQUw9VA-unsplash.jpg Blog Archive - It’s all about boundaries, baby. - It’s the most wonderful time of the year… Christmas is coming fast, and as we are all out rushing around to check things off our lists, let’s remember all the wonderful small businesses in our community. Obviously, shopping small is great, but there are lots of ways to show support that don’t cost a dime. Tell your friends about businesses you love, like and follow them on social media, sign up for their newsletter, and any other way you can think of to get their name out there! We are a big club of entrepreneurial superheroes, so let’s boost each other up! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/bcece6fb-65f6-49fd-8afc-e70c6a4f8670/victoria-heath-MAGAXAYq_NE-unsplash.jpg Blog Archive - It’s all about boundaries, baby. Out-of-office memo: "I'm leaving the office for two hours to undergo kidney transplant surgery, I will be reachable by cell at any time." Sound familiar? It may be a joke, but it's not that far from the truth. We are all so dedicated to our careers that we feel a responsibility to prioritize our professional obligations above all else. In small business, it sometimes feels impossible to step away even for a second to attend to personal matters. At Missoula Bookkeeper, one of our major values is work-life balance--doing what you love so you have the freedom to live life on your own terms. Here are a few ways you can set some healthy boundaries, maximize your time, and learn to create a balance between work and personal endeavors. Set manageable goals: They say the only way to eat an elephant is one bite at a time. Rather than feeling like everything needs to be FORWARD! FORWARD! FORWARD! set small milestones to work towards. Daily, weekly or monthly goals help keep things in manageable bites. Small steps lead to big gains, and keep you from feeling overwhelmed. Take five: Set intervals throughout the day to take a damn break! Taking a couple minutes to move around, get a cup of coffee or text a friend can be just the reset you need to jump back into work. Set a timer so you don't get off track, but make it habit to periodically take five (or fifteen!) and then get right back to it. Dont overcommit: It's SO HARD to say no. You want your business to succeed, you want to be a great friend, you want be a great parent, volunteer, and I'll bet you have 10 million projects and hobbies you'd like to dive into. Make it priority to set some healthy boundaries in all (YES, ALL) of these areas! When you overcommit, you end up half-assing all of it. Let's pick the stuff that's really important and give it our WHOLE ass, shall we? Ask for help when you need it: If we've said it once, we have said it a million times--DELEGATE! It's tempting to try to handle it all, but there's no need to be Jill-of-all-trades. Outsource the stuff that simply isn't worth your time or bandwidth. Compartmentalize: It's so easy to get sidetracked and feel like you have to answer emails and texts IMMEDIATELY, but it ends up pulling you away from tasks you need to accomplish. Put your notifications on silent and dedicate windows of time throughout the day to respond to them, rather than doing the constant checking and refresh. You will be SO MUCH MORE productive. Unplug: Unplugging may take many forms. This may mean setting a "quitting time" and committing to stepping into civilian mode at a certain hour Additionally, this may mean stepping away from your phone or computer and not getting lost in in social media or other fun time wasters (lookin' at you, Tik Tok!). Focus on your family, your friends, your home...YOURSELF and enjoy the well deserved time off. With practice and commitment, you can find a balance between your personal and professional life that feels right for you. Don't be shy about setting boundaries and sticking to them! https://www.missoulabookkeeper.com/blogarchive/intentions monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/45ebe526-9fcb-4cb9-9dda-bc7e5651978b/we+have+goals....jpg Blog Archive - Intentions. We have spent a lot of time this month talking about goal setting. Because we would never ask you to do something we wouldn't do ourselves, here are a couple of things the Missoula Bookkeeper team has committed to doing better in 2022. Processes: We did a team check-in in November and took a hard look at our processes and work flows. We identified what was working for us, and what needed to change. We are looking at exciting apps and software to help provide the absolute best experience for our clients, based on their specific needs and preferences. Communication: No lie, we genuinely dig each other. We work so well together because we have love and respect for for one another, but even great matches need to make sure that they are communicating effectively. We are developing additional systems to clearly communicate what needs to be done and by whom. We have also committed to checking in on a regular basis to make sure everything is running smoothly. (Almost) World Domination: We are brainstorming even more ways to serve you! Identifying your needs and gaps in the market where we can make your small business more effective, more profitable, and give you more time to do what you love. We wear the "Empowerment Geek" badge proudly! https://www.missoulabookkeeper.com/blogarchive/streamline-your-client-roster monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/13df8cdb-9f42-4cbe-aa5c-c883bc6dc946/Your+Client+Roster.jpg Blog Archive - Streamlining Your Client Roster. Your clients are the backbone of your business. You work hard to develop their trust and maintain a relationship with them. Instinct may tell you to set a goal to get as many customers as possible, but that is not always the most effective way to grow your business and maximize income. Today, we'll examine three strategies for streamlining your client list and growing your bottom line. Quality of client--Let's face it: some clients require a lot more time, manpower, and other resources. This doesn't necessarily mean they are difficult or unreasonable, they just take up a lot more bandwidth. Take a hard look at these clients and be honest about how much you are putting into these relationships and determine if keeping them on your roster makes sense. Does what you charge these clients truly a reflection of the time you are investing? If the answer is no, it's time to adjust pricing, or phase them out of your services. Value added services--As for the core set of your clients, what needs can you identify that you can fulfill? Offering additional services to even just a few clients can really add to your bottom line without having to invest in finding and onboarding new clients. Low paying clients--If you have a handful of customers who are barely utilizing your talents, it may be time to make a tough call. It may be in your best interest to take the small chunks of time you spend on these clients and put all of that into a client that uses more of your talents. Or maybe you can hire an assistant to do this work and free up your time for more high-level work. It's never easy to take a critical look at your client list and consider parting ways with people you have developed a relationship with. You have certainly worked hard to gain their trust and earn their partnership. However, it's worth it to BOTH of you to make sure that the partnership is serving both of you to the best of your ability. At the end of the day, you AND your client will settle into a situation that serves your needs so much more effectively. https://www.missoulabookkeeper.com/blogarchive/work-life-balance-and-delegation monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/a7e0f5f4-921b-4ecd-b0ad-c9b69d5bb9f1/work+life+balance+%281%29.jpg Blog Archive - Work / Life Balance and the Art of Delegation. You probably got into business for a large number of reasons, but I'd bet the two major draws were doing something you truly love, and the flexibility to set your own schedule. We all need to do a better job putting ourselves higher on the to-do list and small business owners are no exception. But with a list ten miles long of things that need to be accomplished, how do you do that without your business suffering? Here at Missoula Bookkeeper, we preach the gospel of delegation. Do the thing you love. The thing that lights you up. The thing that got you into business in the first place and then let the rest of that sh!t go. Things like bookkeeping, marketing, payroll and invoicing can be outsourced, freeing you up to make choices that suit you. Pro Tip: you DON'T have to use that time to work. Find the sweet spot between building your empire and living a rich personal life. The freedom to cultivate a fulfilling balance between work and home is one of the enormous benefits of being in business, so get out there and seize it! https://www.missoulabookkeeper.com/blogarchive/that-gives-me-the-yucks monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/f76e7812-8cfc-4d5c-8c4a-a905df2e630e/On+today%27s+episode+of+%281%29.jpg Blog Archive - That Gives Me the Yucks: Creating Social Media Content This month, we are focusing on identifying goals for the new year and how to make that $h!t happen. Today, we are tacking social media, and if the thought of creating content and putting it out there gives you the heebie jeebies, you aren't alone. Social Media is here to stay and can be HUGE in building your business. Here are a couple tips to get you headed in the right direction. Set a goal to post consistently, even if it's just once a month. Set a schedule for when you want to post and stick to it. If you sit down and tackle creating content for several posts at once, you can get in a groove and knock it out so it doesn't feel so overwhelming. Your clients want to know who you are and what you stand for. Solidifying your "voice" will go a long way to gaining the trust of people you do business with. It feels so yuck to talk about yourself, but you will gain the followers and clients that really fit with your values. Don't be afraid to ask for help. Maybe social media and design isn't your bag, and that's fine. But don't ignore the power of social media. Find someone to outsource your content and free yourself up to do the work you really love. Does the thought of creating content for your business give you the yucks? Do you actively avoid the task of posting on a regular basis because you don’t have time or don’t know what to say? Would you rather get a bikini wax with duct tape than deal with creating graphics and scheduling posts? WHOOOO BOY, are you in luck! Email angela@missoulabookkeeper.com to schedule a (FREE) consult about outsourcing your social media needs. https://www.missoulabookkeeper.com/blogarchive/a-goal-without-a-plan-is-just-a-wish monthly 0.5 2021-11-10 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d3aadc5f-5848-4d4c-b2c7-ee52f4ded651/estee-janssens-zEqkUMiMxMI-unsplash.jpg Blog Archive - A Goal Without a Plan is Just a Wish Now that we have you thinking about the new year and goal setting, you may be wondering what that looks like and where to start. Of course, we all want to grow and make our businesses more financially stable, but how to get there? What does growth mean to you? The obvious answer is more income, but there are other ways to measure that success. That may mean more clients, but it also may mean more services offered to the same number of clients. Alternatively, there is something to be said for the QUALITY of your clients. It may be worth considering culling clients that are high maintenance or low paying for clients that better fit your business philosophy and are less stressful. Evolving your business in the new year may also mean working less but more efficiently or having a better work/life balance. To get here, you may need to hire help, steamline clients or raise your prices to match your worth. Analyze your current situation and financials. What is working and what is failing? Where do you feel that you are in your sweet spot and where is there consistent friction or stagnation? In a perfect world what would your business and life balance look like? Get specific, write it down, and make a plan. Below are some strategies to get you moving in a better direction: Are you truly charging what you are worth? Take a hard look at your pricing strategies. Talk to your bookeeper (*raises hand) about what can be done to track the cost of your goods and services so you aren't shortchanging yourself. Also, if you aren't already, spend the next month really tracking your time so you can get a realistic sense of how much time you are devoting on projects and clients. Drowning in receipts and unpaid invoices? Develop a plan and schedule for tackling these tasks. A giant pile of paper to sort through or a stack of invoices you haven't been paid for is (and this is a technical term) SO YUCK. Give yourself the gift of never letting this get out of hand by planning ahead. Often, managing these tasks that are necessary but not revenue generating isn't the best use of your time. Finding an expert take that off your hands can be a game changer. Ready to grow? Social Media is here to stay and can be HUGE in building your business. Set a goal to post consistently, even if it's just once a month. Not only will you gain more followers, but it helps your clients get to know who you are and what you stand for. Solidifying your "voice" will go a long way to gaining the trust of people you do business with. Are you paying yourself regularly and predictably or are you just dipping into funds randomly? Build a strategy for prioritizing yourself in the bottom line, and you will feel much more comfortable when it's time to track your income and expenses and build funds for growth and emergencies. Are you ready to add employees when the time comes? Building an employee handbook so expectations are clear is vital, and you don't want to be scrambling when the time comes. Being prepared saves you a lot of headaches when it comes to training and protects you from a legal standpoint. Additionally, getting procedures on paper will make the transition SO MUCH faster and less painful for all parties involved. Set everyone up for success! Whatever goals you decide are right for you, write them down! Make a list or a vision board and post it where you can see it regularly. You will be amazed what you can accomplish when you commit. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/dd492f23-3302-4ff7-8e90-803c09713e91/visual-stories-micheile-lZ_4nPFKcV8-unsplash.jpg Blog Archive - A Goal Without a Plan is Just a Wish “What if today is the day everything changes?” https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/63b130db-ec6c-45b2-97c3-b129cf72cec7/brett-jordan-erLrY4aKztg-unsplash.jpg Blog Archive - A Goal Without a Plan is Just a Wish What goals do you have for the new year and how do you plan on making it happen? Maybe you have a goal and need help figuring out how to put it into action? Email us at team@missoulabookkeeper.com and see what we can do to get you on track for your best year ever! https://www.missoulabookkeeper.com/blogarchive/ducks monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/d44c5684-4e62-413b-bfa9-3a32b9beb2fc/Who%27s+there+2022%21+%281%29.jpg Blog Archive - Get those ducks in a row! As we are staring down the barrel of the holiday season and the end of 2021, it's very important to get your ducks in a row and prepare for next year. One very important step in the year end wrap up process is checking in with your accountant. This can be an actual meeting, or just some emails back and forth. Have them look over your books and give you advice on things to do before the tax year closes to help you hold on to more of your hard earned cash. Here are a few things they may suggest: Set aside money to pay your tax bill if you haven't been paying estimate quarterlies or payroll taxes Adjust your owner payroll/dividend mix in the new year Start or fund an existing IRA or 401K pretax Do open enrollment to sign up for Health Insurance or change your plan based on your life changes next year Start or fund a Health Saving Account if you qualify Start the discussion to move your filing to an S-Corp Add your spouse or child to payroll to get additional savings Make or hold off on large purchases of equipment or real estate Make improvements on your existing real estate or equipment Look at personal tax strategies, like refinancing, child tax credits, donations or health care costs that you should pull together. This may seem like an overwhelming list of topics to cover, but we promise it will be worth it! Take a deep breath, kiss your dog and go for it! https://www.missoulabookkeeper.com/blogarchive/prepping-for-year-end monthly 0.5 2021-10-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1633628936125-4YADLDGH2L3E310BZE4T/ferenc-horvath-4gKHjKG7ty4-unsplash.jpg Blog Archive - And now, the end is near… - CLASS IS IN SESSION When it comes to the financial functions of your small business are you confused, perplexed, fuzzy? Would you like to have a better grasp of financial terms, bookkeeping basics, tax considerations, and learn about the people you need to be on your team? YOU'RE IN LUCK! Announcing FINANCIAL FUNDAMENTALS: Roadmap For Getting Your $h!t Together, a 90 minute Zoom course to help you understand the building blocks for running your business. Limited seats are available, so be sure to register early, and hey...bring a lost friend. Early bird registration is $5 off for a limited time, so get 'em while they're hot. October 20,2021 at 1:00 MST via Zoom https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1633631287570-G133B122ZH39WBO23Y3F/TTFA.jpeg Blog Archive - And now, the end is near… - Terrible, thanks for asking! We love a good podcast, it’s like reading but without all the work. Whether you’re working, doing things around the house, or in the car, podcasts are the perfect way to catch up on your favorite topics without having to slow down. Recently, we discovered, “Terrible, Thanks for Asking!” You know when someone asks how you are, and you say “fine”? This is the opposite of that. It’s sometimes sad, sometimes funny, and often both. While you’re at it, check out out our Spotify channel for other podcasts we love, as well as the music that keeps us moving! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1633631418788-PWLG6APK3ULUCY2DRG80/patrick-perkins-Pg44v2M2S6k-unsplash.jpg Blog Archive - And now, the end is near… - And so I face, the final curtain… As we go screaming into 3rd quarter with our hair on fire, I am going to urge you to take some time to plan for year end. I know, I know. You want to throw a hot brick at my face right now, but hear me out. During the next month you have a little window before the holiday craziness hits and then "Holy crap, its 2022!" If you take the time now to do some prep, your holidays will be more enjoyable and the new year won't bring the same old panic it normally does. Here are some steps to get you started: Get your business bookkeeping in a good spot. This will ensure that you are prepped for taxes and even more importantly, you know how your business actually doing. Set up a check in appointment with your CPA. This can be an actual meeting, or just some emails back and forth. Have them look over your books and give you advice on things to do before the tax year closes to help you hold on to more of your hard earned cash. Here's some things they may suggest: Set aside money to pay your tax bill if you haven't been paying estimated quarterlies or payroll taxes Adjust your owner payroll/dividend mix in the new year Start or fund an existing IRA or 401K pretax Open enrollment to sign up for Health Insurance or change your plan based on your anticipated life changes next year Start or fund a Health Saving Account if you qualify Start the discussion to move your filing to an S-Corp Add your spouse or child to payroll to get additional savings Make or hold off on large purchases of equipment or real estate Make improvements on your existing real estate or equipment Look at personal tax strategies like refinancing, child tax credits, donations or health care costs that you should pull together. Pull reports from your bookkeeping to see where your year actually is and start to plan for the next year. I recommend a Profit and Loss for the Year to Previous Month by Months. This shows you all of the income and expenses that have gone through your account broken out by months. This is super helpful to analyze where you are making money and how its being spent and the cycles of both throughout your year. It is also good to pull a list of outstanding client invoices that you might want to try and collect or bills that you need to pay before year end, especially larger ones. Think about what changes you need to make in the new year and get the framework set up now. Here are some examples: Create or update your client contract to fix some gaps in your client management process. Get ahead of things by having everything in writing. Update pricing and give everyone ample notice so you can charge what you are worth. Cull clients that are high maintenance or low paying to make room for your ideal clients. Look at income growth you have planned and get a game plan for hiring and training help to allow you to keep up. Work with a financial planner to set up investment accounts and have them ready to fund at the new year Create a realistic plan to take maternity or paternity leave and still keep your business or organization moving forward. Assess processes and vendors for efficiency and budget and make a plan to fix the problem areas. Lay out a marketing and social media calendar for the new year and get help to implement it. Lay out your priorities in your personal life as well, travel, family, less work, more fun and strategize about how to make them happen. Take a minute to soak in the kick ass thing you are building and celebrate with your family and friends. Do us a favor and remember this: you are doing amazing things for your community and you should be proud. Write that down to remind yourself whenever you are losing your nerve. The holidays and new year changes can leave many of us overwhelmed. Do the work now to get ahead of the curve and you can sit back and enjoy the time instead! https://www.missoulabookkeeper.com/blogarchive/damn-good-advice monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/6976797e-1a0a-438e-85a3-3ea4a692172a/We+all+need+some+good+advice+%281%29.jpg Blog Archive - Take my word for it… No matter where we are in life, we could all benefit from some damn good advice. We conducted a poll and asked, "If you could go back in time, what piece of advice would you give your younger self?" "You don't have to follow the prescription for life that we all get handed as kids, especially as women. Figure out who you actually want to be and what you want your life to look like and live in a way that makes you happy." "Boundaries are so important, and you shouldn't feel bad about enforcing them. Boundaries show that you have respect for yourself, and shows others how you expect to be treated." "Trust your instincts. Your gut--your inner voice, is your best tool." What would YOU tell your past self? We would LOVE to hear YOUR answers in the comments! https://www.missoulabookkeeper.com/blogarchive/imposter-syndrome monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/881ce5a9-d818-4778-8ebe-2164ed87f8d4/all+the+wrong+people+have+imposter+syndrome.+%281%29.jpg Blog Archive - All the wrong people have imposter syndrome. As you begin your journey as a business owner, you're going to be networking with all kinds of seasoned veterans, and most often jumping into things that you may not feel fully prepared for. It will seem like others have it all figured out--their marketing is on point, they are making a steady income, and they have a great reputation around town. Can I tell you a secret? They are all faking it in some way. Part of the key is diving in and using the old adage of faking it until you make it. No matter how well you plan, how many experts you have on your team, how many books you read, you're going to be confronted with situations that could not have been anticipated, or simply don't have an easy answer. That's when you need to dig into your network, approach problems from your values, and do your best. You can pivot if something doesn't go as planned and do better next time. But don't let yourself be paralyzed by indecision. Believe in yourself, surround yourself with a team to help you make the best decisions possible and take the leap, and you are WAY ahead of the curve. https://www.missoulabookkeeper.com/blogarchive/its-all-about-the-team monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/dc7ebdb7-1723-4369-a0d0-771eeca5b6c6/It%27s+all+about+the+team.+%281%29.jpg Blog Archive - It’s all about the team. There's a lot of things I'm good at. I'm a great cook, an excellent trip planner, and whoooooo boy, get out of my way when its time to throw a party. But here's the flip side: I don't fix my own car, you won't see me cutting my own hair, and you'll never hear me talk about what a great job I did neutering my dog. I know my gifts, and one of them is delegation. Business is the same way. You got into it for a very specific reason. You are good at what you do and you LOVE it. However, when the buck stops here, there are lots of tasks that may not be your bag. This is why networks are critical. When it comes to marketing your business, doing payroll, everyday bookkeeping, taking promotional photographs, or building a business plan, leave it to the pros. Not only is the final product much, much better and more effective, it frees up a lot of your time to focus on the part of the business that you are truly good at. Work smarter, not harder, my friend. This is your sign to reach out to fellow business owners, friends, small business organizations, and other professionals you trust to find the people that will make your business the best it can be. Your very own X-men if you will. What task have you outsourced that made a big impact on your productivity? Comment below, or drop us a line at team@missoulabookkeeper.com https://www.missoulabookkeeper.com/blogarchive/levelup monthly 0.5 2021-10-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1635614726664-DESYBKCGJRJR9N7ADWWO/levelup.jpg Blog Archive - Level up… When MB started, it was just our fearless leader, Amy. She took her unique skill set, found a gap in the market & established herself as a knowledgeable professional. After years of hard work, she came to a fork in the road: should she maintain her workload & stay where she was, or take a risk & grow? If you've been following our journey (and we know you have!), you know she the big brave choice to leap forward! Personally, I'm so glad she did! Taking that next big step is even scarier than starting your business to begin with. It represents risking your progress, and trusting your "baby" to the unknown. Suddenly, all the knowledge & procedures that only lived in your head have to be communicated to others, & you have to figure out how to make sure everyone is trained to provide the same level of customer service that you take so much pride in. Here are some things we have done to streamline this process, and some hard lessons we have learned along the way. Get it on paper A step by step procedure manual on day-to-day tasks is so important. Your new employees will know exactly what is expected of them, & will have a place to refer back to when they have questions. This frees up a lot of time for you to keep doing your work instead of fielding the same question a million times. Get a system for communicating tasks There's no right answer here. For some workflows, software that allows to you assign tasks & pass them through stages works best. Others find that a simple email with a category tags for searchability makes more sense. It's all about understanding your particular personality set & industry. Communicate, communicate, communicate As with any relationship, checking-in is key. Be honest about what's working and what's not, what you need & what you expect. You'll find that you develop a rapport that makes everyone more productive. The flip side of the coin... Remember, that while it can be incredibly rewarding to take the next step and get bigger, there's absolutely no shame in being happy where you are. If you love what you are doing, you are already much more successful than most! https://www.missoulabookkeeper.com/blogarchive/dearself monthly 0.5 2021-09-15 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1630177573707-CLARFT0RM7PHGTW39SUO/7.20-MissoulaBookkeeper-RioChantel-2.jpg Blog Archive - Dear Self, - “Forgive yourself for not having the foresight to know what now seems obvious in hindsight.” —Judy Belmont https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1630177518612-KXUZBK47JKZYVH8CA7JY/sharon-mccutcheon-tn57JI3CewI-unsplash.jpg Blog Archive - Dear Self, We love ya so much, we just can’t stop finding new ways to help you out. We are assembling a bank of free resources for you to come back to whenever you need a little guidance. We will be using this space for downloads, tutorials, classes and links to useful resources. Just uploaded: Common Tax Deductions for Small Business. Have something you’d like to see added to the resource database? Email angela@missoulabookkeeper.com and let us know! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1630177463970-7GYD93VPGAB8ZAK2HOX1/andrew-seaman--m88z7ily-w-unsplash.jpg Blog Archive - Dear Self, So you think you want to be an entrepreneur? Let me tell you from first hand experience, it ain't going to be all burritos and margaritas, my friend. You find something you love to do, an industry where you feel like you can make a real contribution to your community and make a living doing it. Unfortunately, finding your passion is the easy part. There's a whole lot of things that will come up that you won't expect. Here are a few things we have learned along the way. There will come a time where you have to decide if you want to grow. You may be able to chug on for years as a one-woman (or man) show and be just fine, but at some point you may be compelled to bring on employees or subcontractors to grow to the next level. This can be a game changer for your income and stress levels, but it brings its own challenges. Hiring and managing people takes good communication skills, planning, delegation, and assertiveness. It also takes TIME. If you hire and train well it will pay off, but in the short term, it will probably be butt-kicking hard. There is no one set path. Success looks different for everyone, and what has worked in situation is not necessarily the right choice for you. Don't be afraid to make decisions that feel right to you and serve your goals and purpose, even if they don’t look like everyone else’s. Networks are critical. You can't do everything on your own, so it's vital to cultivate a network of people you trust. Things like bookkeeping (*ahem*), professional photographs, or business coaching could be important building blocks on the road to success. It's so reassuring to know that you have a team of people behind you for the tasks that aren't in your wheelhouse. Not only does this contribute to the overall professionalism of your brand, but it frees you up to do the really cool things that got you into your business in the first place. Hindsight is 20/20 You will make mistakes. Instead of kicking yourself for doing something wrong, count it as a lesson learned and move on. You can't know it all, so don't get down on yourself for situations you didn’t anticipate. Be flexible. Plan A often becomes Plan B, C, D, or E. Be open to change as things progress and keep your focus on the goal rather than road you planned to take there. Sometimes, you just have to punt. Everyone is winging it No matter how together another business owner looks, it's nearly guaranteed they freak out from time to time. Did I do the right thing with an employee? Did I set my prices correctly? Do I have what it takes to make my business successful? Believe in yourself and surround yourself with a team to help you make the best decisions possible, and you are WAY ahead of the curve. Despite the fact that being a business owner is not all sunshine and roses, I don't think I could ever go back to being an employee. I love the freedom and challenge it provides. And I also value all of the things that I have learned along the way. If you have a minute, drop us a line and let us know what you have learned in your entrepreneur journey that you wish you would have known from the start, team@missoulabookkeeper.com. https://www.missoulabookkeeper.com/blogarchive/eww-covid monthly 0.5 2021-09-14 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1631207215330-LLX5ZS14IOFRJDSQHICS/Dear+COVID%2C+I+hate+you.+Sincerely%2C+Everyone.+%281%29.jpg Blog Archive - Eww, COVID! I don't remember the last time I had a conversation that didn't have a passing reference to COVID. Like it or not, this is part of the new normal. There is pretty much no aspect of life that hasn't been impacted in some way, and while your dog may be SUPER appreciative of the extra time you're spending at home, the rest of your life has probably taken a hit. We took an informal poll and here are some of the more creative ways that COVID has basically F'ed up our lives. Dating difficulties-- All politics aside, masks are inconvenient. Mask requirements have made it super difficult to know if the supposed hottie in the produce department is cute or not. What does he have going on under that mask? What if he has candy corn teeth or excessive nose hair? These are not chances we are willing to take. Germs, galore--You know when you leave a public bathroom and you've just washed your hands and you can't figure out how to get out without touching the nasty door handle? Multiply that times...EVERY SITUATION EVER. Play it cool--You're in public and you take a sip of water. It goes down a little wrong. DON'T COUGH. DO. NOT. COUGH. People will think you have the 'rona and chase you with torches and set you on fire like a witch in Salem. But seriously--The kids are doing school virtually, which is like when you used to do math at the kitchen table with your Dad, but for EVERY MOMENT OF SCHOOL FOR INFINITY. There's no crying in baseball, but there's definitely crying in math. You're doing great, kids and beloved gownups. We are so proud of you. She works hard for the money--If she still has a job...or a business...or any customers at all to limp into the next quarter. Less time with your tribe-- I am firmly in the middle between extrovert and introvert and my introverted side is fat and happy. My extroverted side, however is guant. Prior to the pandemic we were hosting house concerts and comedy in our living room a few times a month and out on the town regularly checking out art openings, local music and cocktails. I miss you all! Five minute hugs all around! https://www.missoulabookkeeper.com/blogarchive/exfm6ptatlnme4o9x2gz7k536cql8n monthly 0.5 2021-09-09 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1631206032939-M4TPYNI56DQUYUYZ9M6K/How+Do+I+Tell+My+Customers+About+a+Price+Increase.jpg Blog Archive - How do I tell my customers about a price increase? The thought of raising prices for our products or services makes many of us a little queasy. We know that our costs have gone up or the value of what we provide has increased, but we struggle to charge what we are worth and what we need to make things work. How do you raise prices in a way that doesn't alienate your customers? ~ First crunch the numbers What are your actual costs for delivering to your customers. This should include any supplies, materials, time for actual production or delivery, but should also aggregate in your overall costs for keeping the doors open and the lights on. Then you can start to determine what your price per hour, per project, or per product should be. If you are seeing shortt-term, market-related increases for your costs, you may decide to just do a temporary increase and communicate that clearly to customers. ~ Time your increase strategically Your business has its own "seasons" or cycle. That should inform your timing. Maybe when you launch a new product line, pricing increases. Or perhaps you reasses pricing at the start of each financial year (which may not be in line with the calendar year). Or maybe you start mid-year with increased pricing for new customers and bring older customers on board later in the year in a more gradual fashion. You can also increase prices for most of your clients in a blanket fashion and offer a stepped increase for your best or biggest clients. ~ Communicate, communicate, communicate Nobody will be happy to see a a bigger bill than anticipated, so make sure your prime your customers as much as possible. For bigger, long-term increases, send an email out 60 days in advance with the new pricing. If you are planning ahead for the increase, start pricing new clients at the new rate as far in advance as possible. Even as early as 6mo out. I would also remind customers of the increase a few weeks before their increased invoice or autopay charge goes into effect. And more importantly, make sure you communicate why the prices are going up. Are you offering more or better service? Have your costs increased because of factors outside of your control? How has your business grown and changed since they started working with you? And finally, make sure your customers know how much you appreciate them and their business and keep your communication lines open for their feedback or even complaints. Your customers work with you because you meet an important need that they have. If you continue to deliver quality service, they will more than likely not even think twice about paying the increased prices. They probably knew you were worth it before you did! https://www.missoulabookkeeper.com/blogarchive/habits-of-small-business-owners monthly 0.5 2021-10-30 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1631206774061-YLUNCUPHP34CTO8NQ0EV/Habits+of+Successful+Small+Business+Owners+%283%29.jpg Blog Archive - Habits of small business owners. As small business owners, we wear a lot of hats. We carry all of the information, nurture the relationships, make so many decisions, and play so many roles just to keep things moving forward. Here is how to run your business like a BOSS. Make time away from the business Trust me, in this current season, I feel like I am eating and breathing my business, but making time for fun, family and friends, time to recharge, is so important. Burnout is real and we need to cultivate habits to keep it at bay. Look at your schedule each week and make sure that it includes at least a little bit of the activities that help you relax, connect or reenergize. Build the right team Whether you are looking at employees or contractors, bringing in the right team can help you in ways that are a million times more valuable than the cost you incur. Track your time for all business activities and then figure out which pieces are the worst use of your time or your least favorite and find a rockstar in that area to hand it off to. This could be marketing, admin, bookkeeping, sales, manufacturing. Whatever it is, find the best person for the job and let them help you be more efficient. Evaluate, evaluate, evaluate Its easy to get busy and let things click onto auto pilot, but a good business owner is constantly evaluating data, processes, people and parts of their supply chain. Depending on what phase your business is in, this may need to happen quarterly, monthly or even weekly. This means gathering the right data and meeting with the right people to make sure your business is operating at as high a level as possible. Take the calculated risk It can be scary to go a new direction or even to pivot completely. A huge percentage of small businesses were forced to do that when COVID hit and for many, it paid off in ways that we couldn't have imagined when shut-down first hit. Now what if we didn't wait for the next global disaster to look for opportunities, crunch the numbers and take a chance on a new direction in our business. Have a vision beyond this moment or even this year With the chaos and busyness it can be easy to put your head down and just grind through the tasks on your list. But in order to actually build something of substance, you have to look ahead, 2 years, 5 years 10 years even and have goals and metrics for how to get there. Using data that you've gathered can be a big help. And write that shit down. Put it on your wall. Refer back to it every 6 months to ensure you are moving forward. Build a brand that is uniquely your own I don't know if you know this, but bookkeepers aren't known for being colorful, creative, extroverts. But that's kind of who this team at Missoula Bookkeeper is. So when I started to build a web and social media presence last fall, I found a photographer who could capture the essence of who we are as people so we could stand out in a field of traditional financial services websites. I also work hard to make sure that everything we put out into the world had an authentic voice. And that has resonated with so many of you. https://www.missoulabookkeeper.com/blogarchive/reunited monthly 0.5 2021-08-11 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1628628548897-L8M6A5XQYLAGRT0U3RLY/IMG_0309.jpg Blog Archive - Recharge. Reconnect. Rediscover. The First Annual Missoula Bookkeeper Staff Retreat is in the books, and holy crap did we have fun! We floated the river, did a photo shoot, made plans for world domination, and MOST IMPORTANTLY did a cocktail tasting tour of Missoula (it’s tough work, but someone has to do it). We know you care deeply about our research, so we have to brag about our friends at Create Art Bar. Their craft cocktail menu is clearly a labor of love, and the results are nothing short of a masterpiece. Here are some of our favorites: Amy- Radioactive Garden; Tanqueray dry gin, strawberries, rose, egg white, soda Angela-Spicy Frida; tequila blanco, dry curacao, lime, jalapeno, cilantro, sweet and spicy salt rim (pictured) Amanda-Huckleberry Lemonade: vodka, huckleberries, lemon, sugar, soda Stop by for an impressive offering of art projects on a long overdue friends night out, or even just to have a wonderful cocktail before dinner. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1628705521036-I27S78NMG4H4FGSNDGVS/7.20+Missoula+Bookkeeper+Team+Preview-2.jpg Blog Archive - Recharge. Reconnect. Rediscover. - “Coming together is a beginning. Keeping together is progress. Working together is success.” -Henry Ford In late July, we brought the whole Missoula Bookkeeper team together to do some much needed training, team bonding and client meet ups. This time was so valuable for a number of reasons, but the biggest was connection. Connection with each other, with clients and with our mission. Growing the business from 1 person to 3 has definitely shifted the dynamic, both internally and externally. Facilitating this growth and change during tax season was challenging to say the least. We needed some dedicated time to come together and become a more cohesive unit. Bringing together this team that has been formed over the past 6 months allowed us to get to know each other better, lay out a plan for how to best serve clients and work together, and we even had some fun. From my history working for others I knew the pitfalls of ignoring team development and training. As a new employer, I really wanted to start off on the right foot and build a team that was high functioning and well adjusted. This means investing the time and energy into doing this important work. This was the first of many staff retreats we will have and I can't wait to see how Missoula Bookkeeper grows in the future. After a year of mostly meeting via zoom and phone, it was also so refreshing to meet with a variety of clients in person. Some of you had never met in person as you on-boarded during the crazy last year. And for those of you who are old hat, well, we missed your faces. There was no set agenda for these meetings, just a chance for clients to meet Angela and Amanda and for our team to learn more about what the next phase of their business looks like as well. It was so inspiring and fun to talk about your plans and growth and how our team can help you get there. You are the reason we do the work we do! We love to see you grow and succeed and we really do love to see your faces! You’re cooler than rainbow sprinkles and we appreciate the hell outta ya! I know that things are changing again and the next few months are again in flux, but I hope to continue to do in person meetings with clients into the fall to continue to facilitate these connections and planning for 2022. Enjoy these last few weeks of summer! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1628002727087-QPRC3F18JQ9PC7ZR8STW/sean-stratton-ObpCE_X3j6U-unsplash.jpg Blog Archive - Recharge. Reconnect. Rediscover. Take some time to rest and recover. You don’t always have to be so busy, pushing yourself so hard. Step back and take care of yourself. Those moments of self care add value, energy, purpose and creativity to everything you do. Find a healthy balance and enjoy your life. https://www.missoulabookkeeper.com/blogarchive/liar monthly 0.5 2021-09-14 https://www.missoulabookkeeper.com/blogarchive/getpaid monthly 0.5 2021-09-14 https://www.missoulabookkeeper.com/blogarchive/eatthefrog monthly 0.5 2021-09-14 https://www.missoulabookkeeper.com/blogarchive/knowledge-is-power monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1625594122269-SEH63CM24HJ6LJWED98H/5.25.21+Missoula+Book+Keeper+Stock+Photos-16.jpg Blog Archive - Knowledge Is Power. Having clean books is a great goal, but if not set up well, they won’t be very useful for doing anything other than filing your taxes. Over the past few years, I have worked with clients to dial in their books to help them understand how things are progressing over the year and to plan into the future. Once we have worked with a client for a few months, all of their business finances should be up to date and historically accurate at least back to the beginning of the current year. We like to spend a few months getting to know our clients and how their money flows in and out of their account. This process gives us insight into what information they would actually find useful in pulling reports from their finances. Then the fun part begins! Ok, maybe “fun” is a stretch. It’s not spring break in Cancun, but it is definitely my favorite part of the bookkeeping process. We work with clients to tailor their chart of accounts to give them detail where they want it and help them understand their business better. This includes breaking income into large subsets that help the client to analyze where the money is coming in and what is working and what isn’t. Next, we break out expenses specifically associated with delivering goods or services to the clients and put them into Cost of Goods categories. Finally, we break expenses into essential and secondary sub-categories to prioritize expenses and make reports easier to understand. Once we have a really good structure, we can pull reports that help the client understand their business, catch issues early and work towards goals in a systematic way. Here are some of the most useful reports we share with clients: Profit & Loss: Year to Date by Month This report shows income, cost of goods and expenses with totals for each section and a bottom line net income. Breaking it out by month helps identify trends and flow over time. Looking at this history allows us to watch gross income and set goals for those top line numbers in our various income categories. It also helps us keep an eye on the costs of client deliverables and the expenses of running the business day-to-day. Profit & Loss: Year Over Year Comparison by Month or Quarter This report is similar to the above report but is great for understanding seasonal cycles, changes in top or bottom line revenue over time and to evaluate business growth for future planning. Accounts Receivable Aging Reports For clients using invoicing within Quickbooks, this report can be super helpful to stay on top of client payments and to make sure that you have proper cash flow in your business. Delinquent clients may require a revision of payment policies, a decision to send to collections or a strategy to write off unpaid balances after a certain amount of time. Cash Flow Projections This is the crystal ball of financial reports--it allows us to look to the future. It cannot be generated out of Quickbooks, but can be built using a combination of historic data, contracts or clients on deck and client goals or anticipated expenses and income. We can also record actuals into this report each month to see where we are on track and where we need to recalculate. Budget to Actuals Some versions of Quickbooks allow you to utilize a budgeting feature that you can lay out income and expense budgets or goals for the upcoming time frame. These can be set up for the year as a whole, quarters or months. Once you have the budget set up, you can pull reporting to compare how your financial actuals compare to the budget or goals you laid out. For those who don’t have the versions of Quickbooks that support this feature, we can create a spreadsheet that functions in the same way. As your business grows and your finances get organized, good reporting can help you understand everything better and help you plan for the future confidently. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1624906135347-FY8F8EYKBD8921M82GYR/tony-reid-UMJUr3st0AE-unsplash.jpg Blog Archive - Knowledge Is Power. - Missoula Bookkeeper has made my life easier. They are direct, organized and personable. I feel like they really care that my business succeeds! -Keli Lake, Keligreen Simple products on a big mission! Keli makes healthy, safe and biodegradable soaps, candles, and simply the best laundry soap ever. Her passion is reducing plastic waste by offering refill service and doorstep delivery in Missoula. She works so hard for the planet, and we think she’s cooler than the other side of the pillow! Damn, we love Momtrepreneurs. Click here to check out the Keligreen website. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1624904825584-DMB7UKVT5LTLKQKPK8NW/eric-nopanen-8e0EHPUx3Mo-unsplash.jpg Blog Archive - Knowledge Is Power. - Music gives a soul to the universe, wings to the mind, flight to the imagination, life to everything,” Plato I don’t know about you, but we can’t work without a great playlist or podcast going in the background. Follow us on Spotify and see what is keeping us groovy. https://www.missoulabookkeeper.com/blogarchive/planningandbudget monthly 0.5 2022-01-16 https://www.missoulabookkeeper.com/blogarchive/attitudeshift monthly 0.5 2022-01-16 https://www.missoulabookkeeper.com/blogarchive/boldness monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1628703995421-SSY2M13EEZEI0J1Y57SK/battlecreek-coffee-roasters-ul59GTIPILo-unsplash.jpg Blog Archive - A time for boldness… - Hello, Summer! Nothing says summer like an ice cold cocktail. Something refreshing and crisp to sip while you lay by the pool. Enter, vodka cherry limeade. The best thing about this cocktail is that measurements aren’t necessary (are they ever, REALLY?). This is the best mix of childhood whimsy with a grown up twist, and damn…do we love whimsy. Cherry Vodka Generous pour of lime juice Grenadine Sprite, 7up, or that generic 6 1/2up if you’re a babe on a budget Maraschino cherry or 12 if you like them (and who doesn’t) Now kick back, relax, and spend some time thinking about how awesome you are. You deserve it! https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1628702732363-4PSGOXDQXQ48BX5KV5WT/9.9+Amy+Esp+Portrait+Session-27.jpg Blog Archive - A time for boldness… - Whatever you can do or dream you can, begin it; Boldness has genius, power, and magic in it. -Goethe Very few businesses start as a sure thing with a smooth path to success. Our current culture and systems don’t encourage or facilitate entrepreneurship. If we want to be successful in business, most of us have to turn convention on its head, leap off into the abyss or at the very least, be willing to be a little uncomfortable. All that being what it is, I’ve rarely met small business owners who regretted making that choice. As a friend/coach recently said, it is easy to become woefully unemployable after owning your own business. We love our new gig too much to work for someone else ever again. The freedom and autonomy self-employment provides is almost always worth the uncertainty and and sometimes crazy roller coast of emotions and situations that business ownership brings. I’ve always known I wanted to be a business owner, it just took me awhile to find the right spot to land. I’ve never been the person who loves “xyz” and wants to spend all of my time doing it. I’m a dabbler, a little bit of this, a splash of that. Becoming a bookkeeper was not even in my line of sight as I plotted how my life would unfold. I don’t have an accounting or business degree, I have a BA in Cultural Anthropology. I didn’t spend years working in finance, I ran marketing and programs for non-profit and for-profit entities. Instead of asking “What do I love to do?”, I asked, “What do I want my life to look like? What are my strengths? And what does my community need?”. And I didn’t just ask myself, I polled my tribe with a totally nerdy, but immensely helpful survey. They told me what skills and experiences I excelled in and they also told me where they saw gaps in services. Providers specializing in top notch business finances was at the top of surprisingly large cross section of my tribes’ lists. With this and a few other nudges from Lady Serendipity, I had a direction. So, I knew where I needed to go, but I still had to get past the psychological and logistical hurdle of leaving my very reliable 9 to 5 and setting my own course. As a single-parent household that was definitely a leap of faith. My income was THE income. I needed a plan. Laying out a stepped process to growth (complete with spreadsheets and formulas) helped me chart a course to being my own boss. As my business has grown over the past year, it was time again to dust of those spreadsheets and map a new path that included a team, capacity to support an exponential number of small businesses and a reassessment of gaps in our community for business service support. This work can often get sidelined by our “urgent” billable work, but it is essential to growing with intention and clarity. Having my own books in order was a huge tool to build my baseline for my plan. I also enlisted a coach to help me navigate the parts of the process that weren’t in my wheelhouse. As we work with clients, we bring that same ability to analyze past financials to build a baseline for your future looking cash flow and growth projections. We want to help you plan the next iteration of your empire and feel confident that the finances line up. We can also help you figure out what adjustments can help you get there. Big changes and growth take boldness, intention and planning. We are excited to add capacity and services to help your business grow. We are excited to share the tips and tricks we’ve learned over the past several years of working with an amazing and diverse group of clients. We hope you’ll join us for the next iteration. https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1628704063743-850F3WA2UYME7FZAPRTA/9.9+Amy+Esp+Portrait+Session-50.jpg Blog Archive - A time for boldness… - It’s not the money we’re after. It’s the freedom. The goal is to live life on our own terms. We believe in hard work. And dreams. And taking the afternoon off to do absolutely nothing. We believe in saving for tomorrow, but buy the damn shoes. We believe that entrepreneurs are low-key superheroes, and that everyone should do something that scares them every day. https://www.missoulabookkeeper.com/blogarchive/buy-the-hot-tub monthly 0.5 2022-01-16 https://www.missoulabookkeeper.com/blogarchive/empowermentgeek monthly 0.5 2022-01-16 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1635614893489-UGWJ45AXRAWJ6ASFSOAS/geek.jpg Blog Archive - Empowerment Geek I didn't fall into bookkeeping naturally and effortlessly as if it was always meant to be. I was always a good student but didn't excel in math. My initial career path centered around marketing and program management for non-profit and for-profit businesses. My work was definitely data driven, but in a much softer, more nebulous way. After working on my own personal finances, post-divorce and starting a couple of small businesses myself, I started to get excited about the way that financial knowledge and clarity led to empowered choices and growth. At some point I realized that what I really loved was helping other people maximize their own potential and one path to doing that was through finances. I'm not a numbers nerd. I'm an empowerment geek. Being able to map a clients arc of growth through a well organized profit & loss or catch problematic financial trends before they get out of hand gets me way more excited then it should. 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https://www.missoulabookkeeper.com/signup daily 0.75 2020-12-21 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/1608557879935-7IWXACL2INHRYIWMQ15T/9.9+Amy+Esp+Portrait+Session-10.jpg Sign Up for Updates https://www.missoulabookkeeper.com/personal-financial-coaching daily 0.75 2025-04-17 https://www.missoulabookkeeper.com/404page-not-found daily 0.75 2020-12-21 https://www.missoulabookkeeper.com/book-a-consult daily 0.75 2021-08-25 https://www.missoulabookkeeper.com/resources daily 0.75 2025-11-17 https://www.missoulabookkeeper.com/contact daily 0.75 2025-04-17 https://www.missoulabookkeeper.com/business-bookkeeping daily 0.75 2025-06-12 https://www.missoulabookkeeper.com/home daily 1.0 2025-11-19 https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/de00b6ee-a1e9-432c-b629-3f10e959289e/9.png https://images.squarespace-cdn.com/content/v1/5fb049fed32da9094072f1fc/b4240f46-b2b3-4129-95d6-4b84222941db/6.png 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