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CFL Financial location Level 9, 360 Queen Street Brisbane, QLD 4000
fax CFL Financial 07 3328 8999
phone CFL Financial 07 3328 8988
Email CFL Financial mail@cflfinancial.com.au

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Retirement-in style

Retire in style checklist™

There are a few reasons why Business Owners need a Retire In Style Checklist

If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

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The Retirement Prosperity Guide™

Make sure you don’t miss out on the Retirement Prosperity Guide

If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

Self-employed money management tips

Posted on Sep 19, 2016 by CFL Financial

When you are self-employed or run a home-based business, it is vital that you have a business plan that outlines your goals and financial information.

Unfortunately, statistics show that many home-based businesses often fail due to poor financial planning. Therefore, for small business owners should not only develop a financial plan, but also consider developing a method for managing their personal financial situation as well.   

Here are some things to consider including in a business’s financial plan:

Don’t underestimate expenses
There are many costs associated with running a business, so it is important not to forget to include expenses like insurance or childcare (if you have children that may need babysitting while you work) in your spending plan.

Keep accurate records
Those who are self-employed should keep copies of all receipts for tax time and ensure they complete all of their paperwork on time, particularly if they are billing customers.

Manage your income
When your income varies each month, determine your average monthly income. Then if you happen to earn more than average, you can put the extra amount into a savings fund to supplement less profitable months.

Avoid relying on credit cards
Borrowing from a credit card is rarely a good idea. Instead, if you need to use a credit card for business expenses, open an account specifically for that purpose.

Keep tabs on your taxes
To avoid surprises at tax-time, regularly review your taxes throughout the year. Don’t forget to make necessary quarterly tax payments to avoid expensive penalties.

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Retirement-in style

Retire in style checklist™

There are a few reasons why Business Owners need a Retire In Style Checklist

If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

Retirement-prosperity-thumbnail

The Retirement Prosperity Guide™

Make sure you don’t miss out on the Retirement Prosperity Guide

If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

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Email:
Phone: 07 3328 8988
Fax: 07 3328 8999

Office Location:
Level 9, 360 Queen Street
Brisbane
QLD 4000

Postal Address:
GPO Box 2468,
Brisbane,
QLD, 4001

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