Keeping on Top of Your Accounts

Dear Info Marketers,

Well, I hope it's summer where you are. Here in the Big Smoke, it is very much that hot time of year. I have been enjoying reading a book with an ice cold beer on my rooftop at night, and biking on the paths during the day.

That is of course when I am not doing the info marketer job.

Speaking of which, I was asked by a colleague about money. That's right. The dough, moolah, whatever. Money-in, money-out. Money-in, money-out. You know the vicious routine. When you are running a business or even if you still have a day job, it’s important to watch this cycle. And let’s face it: you want more of the former and less of the latter. A lot of people suffering through bad financial periods in their lives spend more than they bring in, and do not monitor their expenses, taxes, etc. Consequently they wind up in debt very quickly and their job or business goes belly-up as a result. It’s important that this does not happen to you.

There are loads of gurus and businesses out there that are designed to help people stay out of debt. The good news is that for you, the information marketer, you don’t need any of them. You just need a little organization and knowledge on how to monitor your accounts properly.

Here are some tips to help you with the endeavor of keeping an accounts file:

--Keep your receipts: Whatever you spend money for your information marketing business, make sure you get a bill as record. Be it a hand written waybill or printed receipt, keep them all. Put them in a file and do not toss out even the most trivial looking sales slip. You never know what tax deductions or special benefits in the future.

--Keep everything organized: You will no doubt accumulate quite a pile of receipts. It’s important to keep them organized. One trick my dad used to do with his credit card receipts was to get some binders and three-ring dividers to keep all of his receipts organized, with them taped to pieces of paper or in three ring Mylar bags. I still do this today. Believe me, when tax time comes around – and it always does – you can take all your receipts to the accountant and have your return quickly filed. God forbid you get a visit from a government official, but if you do, you can show them all your records right up front and save a terrible auditing. It’s that simple and there is no better way to stay on top of your financial game.

--Track your records: As time wears on, you will get to see what you are spending money on. Check all your receipts and work-related bills. Once you can see where your money is going weekly, monthly, and/or annually, you can make decisions as to what expenses can be reduced or eliminated altogether. Again, staying organized and keeping a receipt file will help with this.

--Trust your instincts: This might sound as an odd bit of advice, but it is helpful. There is a good chance that you know in your gut what is and is not worth spending money on, and how much cash you have available to spend. Don’t ignore this. A lot of people want to live large and buy something whenever the wind blows. That’s just plain irresponsible. Always think of your business first and make good judgments based on its survival.

Rightly or wrongly, money matters. It has made some people very notable in history, while it has also brought many people to their knees. Those who have managed it properly and seen success in their lifetime all seemed to come up with a game plan as how to manage it. There is no difference in the scenario of information marketing. If you get prepared with a proper accounts file, your success will continue on as well.

Be sure to send any e-mails to jburt369@gmail.com or visit the E-Wealth Daily site here for more info on how to stay on top of your accounts.

Take care and I'll be back soon,

J.