SAVINGS IN GENERAL

Are you placing 15% or more of your income each payroll to a specific account and from there categorizing it? Many individuals lack having a mindset to save and using accounts that are not directly linked to your personal checking accounts have been shown to be a positive way to execute the habit for those that are not as diligent with their savings habit. For those who have more discipline, you may be able to transfer from your main online bank account portal.

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SAVING FOR YOUR RENT OR FOR YOUR MORTGAGE

Are you saving enough in addition to the monthly cash cushion for your mortgage and/or commercial rent payments? Some say 3 months is enough to bank in regards to rent payments while 6 months of rent money may be the best way to buffer a down turn, a shut down, maternity leave, an illness in your family, among any other needs that may arise.

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SAVING IN TAXES

Are you considering how to reduce taxes by working with a tax advisor who specializes in tax savings? Not all CPAs do this. Competent Tax Advisors can help to watch for opportunities to use current tax advantaged rules. Additionally, working with a bookkeeper can help you with estimating tax payments, paying those payments for you and even put you on a S Corp if that would make economical sense, even to assist with starting a retirement account?

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SAVING TIME

Lastly, budget your time as this may be more valuable than money. Stick to a schedule that works for you and your family, and be sure your employment contracts have it spelled out upon signing your Agreements. Your family and patients can appreciate that you need time off in order to be your best. The more habits and technology you can utilize to keep you on track will help you be consistent.