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Happy [almost] Super Bowl!
Well, this is really exciting, isn’t it? In four days, the largest television event of the year will take place and the nation will be watching as the victor arises between the NY Giants and the New England Patriots With so much happening in the next 29 days, including the Super Bowl, tax season rush, Valentine’s Day, and a host of other things that either cost money or save money (depending on your situation) — I am thrilled and excited to kick-off a new series called Bean Counting. Over the next few weeks, we are going to:
This week, we will preface our series with a few thoughts to keep in mind as the series unfolds. On behalf of the rest of the team, have a great rest of the week!
- Joyfully,
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Introduction Topic: “In the Red Zone” In American Football, the Red Zone refers to the area between the 20 yard line and the goal of the defensive team. In finances and budgeting, it means that there is a deficit between what is estimated and the actual (or what is needed and the actual).
Now that tax season is in full swing, recently, I sat down with nationwide tax consultant and financial coaching expert, Judi Lewis of BOSS-e, who spared a few minutes of her time between tax return clients, and asked her a few questions about what she believes are three golden nuggets that she shares with all of her clients. Tip #1 - Have a vision for the future Lewis – “When I sit with clients for the first time, I ask them to dream…dream BIG. If money were no object — what would they be doing, where would they live, how would they spend their weekends, what would they eat, what would they drive, what charity would they give money to and how much, etc. I really dig into their dreams and motivations. This is an important step and should not be skipped over or taken lightly.” Tip #2 – Work backwards from the vision Lewis – “After we dream big, we put some legs on their dream. Typically, I send them home with a homework assignment. Their job is to get as much information as possible about what is on their dream list. How much does it cost to purchase? What’s the cost of maintenance? Are there reviews from other people about the quality or service? If you give money to a charity, how will that organization spend the money? In short, my clients need to KNOW THEIR NUMBERS. What does their dream cost?”
Lewis – “Lastly, we figure out how to reach that number…the dream number. We look at what can be done more efficiently and what can be better managed. Line items that aren’t relevant or don’t support the dream, can be eliminated. I believe that all dreams are possible, no matter how big or how small. The important thing is to have a plan and IMPLEMENT the plan to get you there.” —- Coincidentally, her tips correspond to planning a budget for an event. The number one tip (having a vision for the future) reminded me of what we discussed in our last series Vision. Even before an event budget can be set, it is important to have a vision for the event. After we create the vision, then we have to gather all the relevant information on how to accomplish the vision and what it will cost. Lastly, like all great events, we develop a time line and a means to track how to execute the event budget. Whereas the above event budgeting process is nice in theory, often times in events, the budget is set before the Vision stage can even occur. Therefore, what is one to do in that situation? – We’ll chat about it next week. Join Us Next Week Be sure to check your inbox as we will continue in our “Bean Counting” series with next week’s topic: “Control Freak“ |
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Tip #3
How is your week going so far?







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