We’ve submitted our tax returns, we’ve popped the bottles, and we’ve boogied til our feet just can’t one-two-step no more. That’s right, the EOFY party has already come and gone and the hangover hit us harder than any debt ever could. But while you’re probably still on a comedown from EOFY celebrations, the team at Walker Hill have been hard at work prepping for the current financial year.

Work hard play hard, right?

Lucky for us we love our job.  So we thought this would be a good time to give you a few tips on how to make this financial year a successful one. So with that, here’s a list we put together …

Tips For The Current Financial Year

Learn from last year’s mistakes

Do you always find yourself plunging into a state of anxiety in the lead up to June 30 each year? We’ll allow you five minutes of grieving time for all the money you could have saved, and then it’s time to pick your self up and make sure it doesn’t happen again.

Have a think about what you could have done differently and identify any areas you could improve on. Perhaps there was something you could have prepared better, or maybe you realised the need for a financial advisor? Whatever it is, now is a great time to get things into place for the new financial year.

Revisit your business plan

When it comes to business a lot can change in 12 months; clients, staff, financial situation etc. Have a look at what has changed from last year and whether your business could benefit from a slight direction change.

It’s also a good idea to sit down with your accountant and study your cash flow for improvements. Creating and implementing strategic changes now could make all the difference to your end of year statement come 30 June 2019.

Start using digital financial management tools

There are many tools available for free to keep on track of your finances, but like most people mistakenly do, don’t leave it until the last minute to organise.

I know everyone says it, but get out your phone right now and download a finance app to help you keep track of expenses, income, receipts and general finances. It’s 2018; you honestly don’t need all those shoeboxes of receipts that you know you will never look at. Start establishing a good financial management habit now!

Set yourself budget goals

What’s the use in aiming for the goal if your eyes are closed when you shoot? Whether its budgets for your business or a personal goal, knowing where you want to be this time next year and giving yourself something to aim for will give yourself a far better chance of succeeding.

Want to discuss the best way to prep for the current financial year? We’re all ears. Contact the team on 07 3367 3155.