In the fast-paced rhythm of life, where financial responsibilities often pull us in different directions, finding a way to manage and prioritize these demands is essential. Imagine a simple process that not only helps you maintain focus on your primary financial goals but also enables you to address imminent needs and maintain balance in your financial journey. Designed by the financial accountability coaches at Accountable Network, this is where the Priority List process becomes your financial compass.

Understanding the Priority List Process

Before delving into the intricacies of the Priority List, it's essential to comprehend its role in your financial toolkit. This process is more than just drafting a list; it's a dynamic, adaptable system aimed at maintaining a balance between your immediate needs and long-term financial aspirations.

Foundations Before Priorities

Before embarking on the Priority List journey, ensure that your financial foundations are solid:

1. Define...

What is Financial Intimacy?

No one would argue that intimacy is critical to a successful and sustainable relationship, would they? But how intimacy is defined and prioritized within a budding relationship can tend to vary. Most couples will focus on physical, emotional and even spiritual intimacy without hesitation, but when considering finances and money, intimacy can be seen as taboo. Many factors can contribute to this prevailing perspective, but statistics suggest that avoiding financial intimacy can be as detrimental to a relationship as any other type of intimacy.

“Nearly half of Americans (48%) who are married or living with a partner say they argue with the person over money…. Most of those fights are about spending habits…. The remaining fights are pretty evenly split between someone being dishonest about money, how to divide the bills and other types of money fights.”

While I’m a firm believer that money cannot buy happiness, I also...

Optimizing Your Finances: Uncovering the Advantages of a Well-Designed Cash Flow Plan

We all need a little help or guidance with our finances now and then. Whether you're a business owner or a family on the path to financial stability, it's important to have a cash flow plan in place that works. In this blog post, we will look at the key components of a structured cash flow plan, a strategic tool that can lead you to financial success.

1. Clarity and Control  

If one is to have financial success, they will need to clearly understand how their money flows. Understanding where it is coming from and where it is going is the first step in taking control of your financial life. It will result in you taking control which results in making better money decisions and less financial stress. 

2. Budgeting Made Easy

Having a cash flow plan in place creates an environment in which it is easier to create a ...

Nick was a man who had a lot going on. He was a member of the sandwich generation, taking care of both his small children and his old parents. He was also self-employed, so he had to file his tax return on top of all that. He was unsure how to pick the best accountant to manage his particular issue because there was so much going on.

Nick conducted some research and discovered an accountant with experience working with clients in comparable situations. He had to confirm that they were a good fit for him, though. Nick posed the following three questions to the accountant to ascertain his level of expertise:

#1 How many clients have you worked with that were in a similar situation and how did you resolve their biggest concern?

Nick had to make sure the accountant had previous experience working with clients in his situation. By having the accountant explain their biggest concern, Nick could determine how closely their situation resembled his. Asking this question helped him...

It’s important to take a step back and think about who you’re trusting with your business finances. Sure, you might just be focused on getting your taxes filed on time and at a reasonable cost, but there’s so much more to it than that.

For example, Nick was a man with a lot on his plate. He was a member of the sandwich generation, taking care of both his small children and his aging parents. On top of all that, he was self-employed and had to file his tax return amidst all the chaos of his life.

Nick wasn’t sure how to pick the best accountant to manage his particular situation. He found someone that seemed reasonable and hired him on the spot, without much thought. At first, things seemed to be going fine. But as time went on, Nick began to realize that he had made a mistake.

The accountant never bothered to ask him any questions about his future plans. Nick had mentioned that he was planning to start another division, but the accountant didn’t...

When it comes to overseeing your taxes, it’s important to know who you’re working with. There are two types of professionals who specialize in tax preparation: Enrolled Agents (EAs) and Certified Public Accountants (CPAs). While both EAs and CPAs can prepare tax returns and provide tax advice, there are some key differences between the two.

First, let’s talk about EAs. EAs are licensed by the IRS to represent taxpayers before the IRS, which means they can assist with audits, appeals, and collections as well as prepare tax returns. They have passed a comprehensive three-part exam on tax law and must complete ongoing education requirements to maintain their license. While EAs can provide tax advice and prepare tax returns, not all are specifically trained in every area of accounting.

On the other hand, CPAs are licensed by state boards of accountancy and that licensing allows them to perform a wide range of accounting services beyond tax preparation, such as...

Let’s face it – emergencies happen. Even in business. If you need to step back from your business for a season or an extended period, you will need help managing things. Who will step in when you’re away? And how will they know what to do?

As a solopreneur, you are the chief everything officer. You are the boss, chief financial officer, administrative assistant, human relations rep, salesperson, marketing director, and janitor. But as a solopreneur, it’s also your responsibility to future-proof your business. This includes preparing for emergencies and having a system in place that’ll help your business function or close shop if something happens to you.

You know your business inside out. So, you don’t need a how-to sheet to get stuff done. But your proxy will need a how-to reference sheet. And the best way to build one out for them is by creating an emergency transition plan.

This plan is not about getting proper insurance or securing...

The long-term success of a business is dependent on several variables. As a business owner, you need employees you can put your faith in and lean on 100%. You need efficient processes and systems that help you save time and money. And you need a solid marketing strategy, so you can get the word out there and attract more clients.

But what truly keeps your business going at the end of the day is its ability to make and manage money. And even though it can sound intimidating (especially if you don’t have all the details figured out), the truth is that there are some simple, tried and true tools that you can employ to get ahead of the game and improve your probability of success!

Today, we’re going to discuss five of them!

Tip 1: Identify Your Key Business Goals 

If you find yourself actively worrying about cash flow management, it might be a sign that you need to sit down and review your business goals. Why, you ask? because you’re probably...

Most people believe that to win with money, you need to be naturally good at numbers, investing wisely and slapping your wrist when you want to eat out for the 5th time in a week. 

But wealth-building and financial fulfillment involve a lot more than just numbers and sacrifice. 

Your attitudes and behaviors around money are shaped by your life experiences, your relationship with scarcity and abundance, the conversations around money that took place around you as a child, and many, many other subtle and invisible factors.

These internalized money mindsets can, in turn, impact your approach to money and impair your peace, happiness and well-being in ways you may not even recognize.

For instance, if you and your partner frequently argue about your financial future, if you feel sweaty and on edge every time you have to make a big purchase, or if you lie awake at night wondering if you’ll have enough to send your kid to college, it’s likely because your money habits...