In a message dated 12/26/98 6:49:44 AM Pacific Standard Time, cedel@redrose.net writes: << Friends: Most of you probably already do some business analysis at the end of the year, but for those who don't, I would recommend it. I consider my fees to see if anything should be changed and make a budget for the coming year, being sure to include funds for IRAs. This has really helped even out our spending and saving plans. My receipts go into a savings account, and from that I give myself the same advance every week, just like a paycheck. This keeps us from blowing all the money when a lot is coming in, then wondering how to pay the bills when business slows down. Does anyone have other helpful suggestions? I do not know how seriously we should take the y2k thingie. Any thoughts on this? When I brought this up before, someone suggested that consumer spending may be up this year in anticipation of y2k, but I question whether piano service will be included in that. Since I suspect my work could slow down toward the end of the year if people begin to conserve their financial resources, I plan to build up a little financial kitty during the first part of the year, just in case. If I don't really need it later on, then we'll earmark it for something else. :-) In any case I think it's wise to plan ahead! Clyde Hollinger, RPT Lititz, PA You are on the right track, Clyde. I had a great end of the year for 1999, but Y2K may be a different story. It is a good idea to reserve funds, even cash, and food for 3 months should Y2K cause some discomfort. That is another story. Since the computer does all of the math, I know what I grossed this year and by doing an analysis, we went ahead a puchased a new desk, personal copier, and lateral file cabinet. I would rather put money towards the business than the IRS. I also realized that my normal expenses keep going up, but my rates have not. After 1/99 they are. Food for thought. Dave Peake, RPT Portland, OR
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