March 16, 2022
Spring Clean Your Finances
Spring is just around the corner, and here in the mid-west, we are getting a taste of what that feels like again. Ah, the sun on your face. Or at least through your office window. But now that the sun is out again, we can also see the dust on our desks. And then we might notice that stack of paper that has been in our inbox for, well, let’s just call it “awhile.”
With the new energy that Spring – and sunshine – can bring, now might be the time to take back your office. Your email. Your paper. And most definitely, clean your finances. That last one can’t wait, especially if you are an organization with people counting on you.
How to Clean out the Clutter
Now, before you get too crazy, no one is suggesting “cleaning your money” here. {I know, I know, but we had to say it.) What we are talking about is having the right system in place to organize, prioritize, and take back control of your finances.
5 Ways to Clean Your Finances:
- Reevaluate where your money is going, by taking a closer look at your budget. Now is the time to plan for the future, not tomorrow. What are the goals of your ministry, and are you on track?
- Review your financials. Are there any unused line items or ministries no longer being providing? Now is the time to do a deep dive into those restricted accounts. Is there money already set aside for something and now is the right time to move forward?
- Are there multiple bank accounts opened, when really you could simplify them into one account? Talk to your MM Accountant before making big changes, but most of the time they will be on the side of simplifying accounts and keeping the details in the general ledger.
- Do you have any unused credit card holders? Now is a good time to make sure your purchasing approval list and credit limits are still reasonable. People change positions or leave the organization but their CC information might not have changed yet.
- Lastly, shred or recycle old papers. Are there extra papers lying around that you don’t need anymore? And just when can you let go of those important documents? Well, we have those answers on our Record Retention Guidelines.
If you are unsure where you are in any of these areas, ask questions. For Miller Management clients, that’s one of the ways your MM experts can help. Maybe you can check off all these items, but your MM Accountant has a more specific suggestion for your ministry. They would love to talk about how to clean your finances – or simplify your financials – with you.
Create Breathing Room & Margin in your Budget
The main purpose of “cleaning out the clutter” of your finances, is to give you freedom. So you can go when God says go and give when God says give.
“How you manage your money matters to God because the bottom line of your bank account may keep you from being able to say yes to what he’s calling you to do.
“This is why you need financial breathing room. Managing your money with margin (i.e., staying out of debt, reigning in your spending, limiting your standard of living) gives you the freedom to be generous, to serve others, to say yes when he says go. It gives you the freedom to follow God right into the very best version of your life.“
– quote from Breathing Room devotional
Other Finance Resources:
Feeling inspired to keep going? Here are a few more ideas:
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