For most of the US, taxes were due last week. For most counties in California, all returns AND tax payments have been delayed until October. Yay for us, not so good for the tax preparers come September. So let’s give Finance some love now.

What would that look like? How about some planning? If there are planners in your organization, likely, a large group will be in your Finance Department. Let’s set up a special listening day just for them. Okay, well, how about a 2 hour forum. If they ran your universe, what would they want?

Let me guess:

Plan your capital expenses. (You knew that truck was on its last legs).

Follow the budget (create a budget?)

Create a yearly operating plan/budget 3 months before the fiscal year starts. (not 2 months in)

Do a post-mortem after each initiative (talking to you, salespeople)

What might you want from them:

Weekly or monthly cash forecast.

Assertive bank interactions – Finance reaches out to the bank officer regularly.

Assertive cash management. Can we get higher return on cash now? Do we have to change banks or just move some deposits.

Monthly analysis of unusual spending and trends.

Strategic suggestions – like an analysis of profit per customer.

And, on a personal level, you could do many of the same things. Certainly, you could see if moving your savings could give you higher returns safely. You could take the last 6 months of spending and review where your money is going. Do you really need that many streaming services? Do you want to plan now for the next vacation, or that new car?

And, do you have a 6 month reserve for emergencies? And, while we are on that topic? Do you have the right amount of life insurance and do you have a will and trust?

Plan a couple of hours this week to evaluate where you are, then act! All our finances could use some love.

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