4 tips for starting your new financial year

4 tips for starting your new financial year

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The beginning of a new year is a popular time for people to embrace new behaviors. You might promise to exercise more or eat extra vegetables. But don’t forget about your financial wellbeing, as the beginning of the year is a great time to look more deeply at your money habits and make positive changes.

Tamika Stafford is a Business Access Advisor with U.S. Bank who works with professionals and business owners and focuses on building wealth specifically among minorities in the Charlotte area. In addition to working at the bank, Stafford is active in the community, volunteering as a Certified SCORE Mentor advising small business owners and aspiring entrepreneurs and assisting with everything from business plan development to guiding business owners as they grow.

Stafford says now is a great time for entrepreneurs to assess how their business is going (or perhaps envision the type of business they would like to start in 2023), and take steps to ensure a prosperous new year. She spoke with QCity Metro and shared her top tips for starting the year off on successful footing.

Stafford said it is important that professionals use an accounting system that lets them easily track the money flowing into and out of their business.  

Many professionals that Stafford have counseled start out using simple spreadsheets that they must manage manually by inputting data. These professionals then either become too busy to change their system, or they are intimidated by the idea of learning an accounting software system, she says. 

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