Top 5 new year’s financial resolutions

GETTING financially fit should be at the top of the list of New Year’s resolutions, according to advice issued by Chartered Accountants Australia and New Zealand.

“Most people want a fat wallet and a thin waist – not the other way around, and New Year’s is the perfect time to work on both,” said a CA ANZ spokesperson.

“We’ll leave it to the diet industry to advise on the waist line, but we want to urge people to consider their financial fitness in the down time in January.

“To meet your professional goals and ensure your professional endeavours stick, it’s time to change how we think about next year’s goals, and start planning for them now.

“It’s never too early to start planning for what you want to achieve in 2019, whether it be your business or career.”

Here are five fool-proof tips to get financially fit and on the front foot from 1 January:

1. Improve your digital presence.

How long has it been since you’ve updated your website? Added to your LinkedIn profile? Engaged with followers on your business Facebook page?

Published a new blog update? Utilise your local print media to drive traffic to your website and Facebook page.

Creating a strong digital presence allows you to identify who your online audience is, and with any luck, convert this audience into clients.

Having a solid online brand can also help you establish yourself as a subject-matter expert, share insight and expertise via social media, and generate exposure for you and your business.

And what better way to kick off 2019 than giving your digital assets a fresh coat of paint.

2. Implement cloud-based accounting technology.

If you haven’t yet, why not?

Shifting your business to the cloud can often boost productivity and significantly trim down your administration time by managing workflow.

Not all cloud-based technology services are the same; they may include hardware, software or some combination of the two.

However, embracing the cloud will enable you to speed up both internal and external business processes, so that you and your customers can make real-time decisions.

3. Plan in advance for key financial deadlines.

Setting timely goals means giving yourself a realistic timeframe to achieve them.

You can proactively break down the year into incremental milestones, with goals for each key financial deadline.

This can help make your milestones more concrete, helping you create a sense of urgency to simply begin.

4. Connect with colleagues – Join a professional network.

Like any industry, if you want to stay relevant you need to keep up to date with the latest discussions and trends.

Professional member bodies like Chartered Accountants Australia and New Zealand provide access to networking events and current thought leadership and news across the business landscape.

Regardless of which professional network you join, by making the step to connect with like-minded individuals, you are guaranteed to expand your current professional footprint.

5. Put yourself first – Invest in your professional development.

Finally, put your professional development first instead of last.

Too often gaining that new skill, course, or qualification is the thing you put on the backburner, but take that time to expand your capabilities and broaden your scope.