Did you know that you don’t have to own a business to enlist the services of a bookkeeper? When my family came into a large deal of money, we moved into a bigger home in Nashville, bought more vehicles, and started donating to charities, working in community service, and taking a few vacations here and there. Pretty soon we lost control of our finances and had no idea what was coming in and what was going out. We had four people pulling money from the same account and no one knew what the other person was doing. We found out really quickly that we needed a Nashville accountant.
I finally made the executive decision that we needed to hire a bookkeeper to help us understand how to manage our money so it would last us a long time, and we would still have some for our grandchildren in the future. Everyone resisted at first because they were so used to spending money when they wanted. However, I told them that we needed to get control and start cutting back.
Our bookkeeper was able to break down our expenses based on category. Then she took it one step further and put those in order of importance. We soon found that we were spending a lot of unnecessary money because we weren’t communicating with one another. We had two and three of items that we only needed on of.
We were all donating to different charities but no one was getting receipts for taxes. In fact, our son was donating to charities and then forgetting what they were called. The bookkeeper helped us start communicating again about what we really wanted to do with our newfound wealth. Once we developed a plan together as a family, our bookkeeper was able to provide us with a system that we could work with. We learned how to capture receipts from the different places we went, and we finally understood what helped us during tax season and what hurt us.
It was also must easier when we paid our monthly bills. It was amazing that we had the money to pay the bills, but we didn’t have a system, so some of them would get ignored for a month or two until the company called us. Our bookkeeper was able to stay on top of it, so we never missed a making a monthly payment again. We also reviewed the amount of money we paid for services around the home such as landscaping and plumbing. I had never though about it before, but just wrote a check and assumed the work was good.
Since hiring a bookkeeper to manage my family’s expenses, our quality of life and communication skills have improved. We understand the cost of our actions and pay more attention to our spending. We review our books with our bookkeeper and my son is even thinking about going into accounting when he goes to college next year. It’s been a wild year, but I feel that we are finally getting back to normal and our organized books are the main reason why.