What Is Your Business New Years Resolution?

Say goodbye to 2011 and say hello to 2012 but before welcoming 2012, have you listed down your New Years resolution? It’s the beginning of a New Year and most small business owners are making their New Year’s resolutions about their businesses. But before doing your list you can back track your previous resolution and see if you were able to accomplish those. Pull out your business plan and any other planning documents such as last year’s action plan and review last year’s goals. After that you can go ahead and do your resolution. We have come up of a list that you can add-on your New Years resolution.

Budget, Your budget doesn’t have to be in a fancy spreadsheet with graphs and charts. A simple, hand-written list of expenses and incomes can get you started, and can be expanded later if needed. A budget will help keep you organized and have a plan as to where all your money will go. Budgets should include the amounts that go to bills, your savings, as well as leisure and other spending.

Save, saving money may sound so easy but really, it’s not. Getting used to money-saving techniques can be a lengthy and involved process, especially for those of us who haven’t had much experience with it. It’s also a good idea to learn how to save more money and become more penny-wise. Using coupons, looking for store discounts and sales, tracking our expenses, and utilizing a budget are skills many of us have learned to do without until recently. Once you become thrifty, it’ll be hard to go back to spending so freely.

Debt free, freeing yourself from debt whether this is a realistic and attainable goal is really dependent upon your financial and debt situation. The easiest way to living debt-free is to cut your spending and put the extra money in your budget towards paying off your debt a little at a time. The key is sticking with it.

Start investing; having an extra income or other investment can be your financial resolution. Even if you can only afford putting away $10 a month, you can still find cheap quality stocks or mutual funds one share at a time. They are a nice introduction to the investment game and a great way to begin to secure your future.

Keep track of your Tax record, this could be the hardest task you will encounter over the year but if you are using a computerized accounting program, this resolution should be easy since the software will do the work for you. Enter your accounting receipts on a daily basis. Your software is only as good as the information you give it.

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