Ring It In

We've finished ringing it in. We've finished all the bubbly ~ if that is what we do. And bright and early on Monday morning, crash!

Wet and shiny behind the ears, we were not prepared for this. Is this a downward turn that accelerates into a downward spiral that crashlands as in an elevator that is out of control? Or is this just a large quantum of emotional investing that starts in the east and spreads its tentacles across the Pacific?

Time will tell. In the meanwhile, we either do yoga, meditate, breathe in and out, or crash at the gym. For watching the DOW meander on its own merry path today will not help our pulse rate.

And tomorrow IS another day: we'll check it out then, as shares inch upwards again.

#financialplanning #investments #strategy

Credit: Does It Work for us?

Isn’t auto-fill an awesome tool? We don’t need to enter our credit card number or address. As soon as we start with our first name, everything is entered, kerplunk!

When do we look up our credit rating? When we apply for a car or personal or business loan, a line of credit, a mortgage, or credit card. Or (woe betide!) when the bank calls us with an ominous message that our credit card is hopelessly overdrawn and there are charges that we cannot identify … yes, Happy Holidays!

When the lending division of our bank gets personal, very personal, and looks minutely at our tax returns for the last two years, profit and loss statements and bank statements. When we wish that we could hide under the chair ~ not be the chair, if that’s what we are.

Therefore, before marching up to the bank for an inquiry into a not-so-murky past, make sure that we actually need that investigation. For any credit check will bring those points down: something we may not always be told the first time around, unless we ask. Those numbers, like our haemoglobin count or IQ should be higher than the norm for us to pull in an unsecured credit card. If they are low, we might need to take a pinch of good old-fashioned sodium chloride (sea salt will work) or ensure that our dizziness is not caused by mere hypotension.

Once we have acquired the goods, make sure that we maintain the credit rating by making minimum if not full payments on time. If we get into the swing of switching balances from one credit to another, our finances may not be where they should be at. If we pay minimum balance on a large outstanding balance that may bring our points down: for our debt ratio is high. If there is a possibility of a default, for whatever reason, re-negotiate terms of payment with the lender.

Little niggly details that must be checked out before the holiday season is over: so that we can ring in a successful and financially fortuitous 2016. To get the financial house in order, do give me a call (before you down that pesky martini). #TrushaDesai.com

#creditrating #financialplanning #creditcard

It's not just a Year-end

The fiscal year of businesses does not necessarily coincide with the calendar year. Whether or not our fiscal year ends in a week, (less if we count business days), we must not be so overtaken by the holiday season as to forget that planning aside, there are fiscal issues that we must be watchful of.

Do our budget and financials vary minimally? Is there explanation for the variance? Is the blip a one-off incident or will we need to take the variance in consideration while preparing next year's budget?

We must look out for the year's expenses, asset purchases, write-offs, tax regulations, cash flow trends. Whether or not we have a growing business on our hands, the potential of future growth must be evaluated at this time of year. If we anticipate that the industry is in a lukewarm stage, we must make amendments to our projected growth trajectory. If we are in an overheated, continually growing sector such as real estate, we may need to re-evaluate our human resources.

We must not forget the accounting aspect of year-end which had best be left to a professional, if you do your ongoing bookkeeping yourself. Therefore, please contact me to discuss your year-end accounting requirements. I am highly proficient at a slew of accounting and computer software. I can also help in budget preparation: please contact me for a consult.

A very Happy 2016 to you and may it be one when your business thrives exponentially.

#smallbusiness #financialstatements #fiscalyear