The new year is a time for fresh starts and setting goals, including financial resolutions. If you’re a solopreneur, freelancer or gig worker, it’s an ideal opportunity to reevaluate your financial strategies. Here are some achievable resolutions to help you achieve new heights of success in 2024.
Budgeting is crucial for anyone, especially for those with fluctuating incomes. Start the year by creating a detailed budget that accounts for your variable wages, expenses and savings goals. Resolve to stick to this budget, adjusting it as needed throughout the year.
Independent contractor work can be unpredictable. One of your top financial resolutions should be to build or replenish an emergency fund that can cover at least three to six months of living and business expenses. This money will be a safety net during slow periods or unexpected financial challenges.
Working with a professional financial advisor can transform how you handle your business finances. A valuable resolution could be to engage with a firm like Clear View Business Solutions for tax planning and bookkeeping. Professional guidance can help you optimize your tax returns, streamline your accounting processes and provide valuable financial insights tailored to your unique situation.
Relying on a single income source can be risky. This year, aim to diversify your income by exploring new markets, offering additional services or even starting a side hustle. Diversifying helps mitigate risks and can lead to more stable financial health.
If you have business or personal debts, plan to reduce them. Prioritizing debt repayment can relieve financial stress and free up more resources for savings and investments. Consider methods like the debt snowball or debt avalanche techniques.
Solopreneurs, gig workers and freelancers may neglect retirement planning amid their other goals. This year, resolve to start a retirement fund or increase your contributions to an existing one. Explore retirement saving options that are suitable for self-employed people, like a SEP IRA or a Solo 401(k).
Commit to learning more about financial management. Whether it’s understanding basic accounting principles, staying updated on tax laws or exploring investment strategies, improving your financial literacy can empower you to make smarter financial decisions.
Financial planning is not a set-it-and-forget-it task. Resolve to regularly review and adjust your financial goals. This practice will help you stay on track and make necessary changes in response to shifts in your business or personal life.
As we step into 2024, setting these financial resolutions can pave the way for a more secure and prosperous future. Seeking professional advice from the professionals at Clear View Business Solutions can be a game-changer in achieving your financial objectives. Let’s make this year count!
At Clear View Business Solutions, we know you want your business to prosper without having to worry about whether you are paying more in taxes than you should or whether your business is set up correctly. The problem is it's hard to find a trusted advisor who can translate financial jargon to layman's terms and who can actually help you plan for better results.
We believe it doesn't have to be this way! No business owner should settle for working with a CPA firm that falls short of understanding what you want to achieve and how to help you get there.
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At Clear View Business Solutions, we know you want your business to prosper without having to worry about whether you are paying more in taxes than you should or whether your business is set up correctly. The problem is it's hard to find a trusted advisor who can translate financial jargon to layman's terms and who can actually help you plan for better results.
We believe it doesn't have to be this way! No business owner should settle for working with a CPA firm that falls short of understanding what you want to achieve and how to help you get there. With over 20 years of experience serving hundreds of business owners like you, our team of experts combines financial expertise and proactive communication with our drive to help each client achieve results and have fun along the way.
Here's how we do it:
Discover: We start with a consultation to understand your specific goals, what's holding you back, and what success looks like for you.
Strategize & Optimize: Together, we design a customized strategy that empowers you to progress toward your goals, and we optimize our communication as partners.
Thrive: You enjoy a clear view of your business and your financial prosperity.
Schedule a consultation today, and take the first step toward being able to focus on your core business again without wondering if your numbers are right- or what they mean to your business.
In the meantime, download, "The Business Owner's Essential Guide to Tax Deductions" and make sure you aren't leaving money on the table.
