Stop drifting, start budgeting

I listened too a really interesting article on Radio 4 yesterday (how middle aged am I?!).  It reminded me that life expectancy has doubled over the last couple of years, and it’s still increasing.  One of the effects of this is that there is much less urgency in our lives, because we expect predictably long lives and we have so much life, being human we have a tendency to squander it.

So how am I going to tie our increasing life expectancy into accountancy?  Here’s how.

If you, in your private life or business life, feel you are drifting, and squandering your most precious possession, you life;  Accountancy can quite literally hold you to account.  Firstly, you need to decide what you want, then plan how to get it.  I would never presume to tell you what you want.  But planning how to get it is very much part of what we do in the form of budgeting and forecasting.

Budgets are the mechanism by which you turn you aims and goals into monthly plans to demonstrate how you will achieve them.  If you then compare how you are actually doing against your budget, you can then see how you are doing and ensure you achieve what you set out to do.

It all sounds very serious and complicated.  It does not need to be.  Budgets and forecasts can be simple documents and processes, to give you the key information you might need.

If you want help with this please get in touch on  0161 303 0610 or take a look at our website www.theaccountancypeople.com