What To Expect

I met with a new client that clearly needs help with financial organization.  When you bring home six figures, own two homes and continually get shut-off notices, you need a personal bookkeeper.  But this was a sell for him.  He just didn’t know what to expect from this business relationship.  In his mind, he runs a successful business, he should be able to do something as simple as go through mail, balance a checking account and pay a bill.  But he doesn’t, and this realization is bothering him.

I sat and showed him how my service could help.  I’ll balance all his bank and credit card accounts using the on-line information.  I’ll summarize information into spreadsheets and e-mail it to him weekly.  He’ll continue to get his statements to verify any information I provide to him.

He’ll be able to see:

• The amount of money he has in his bank account for the week.
• Bills to pay that week (he can decide what to pay and when
• Cash flow for the week (how much he has now and how much he’ll have when he spends what he thinks he’ll spend that week)
• Summary of what was spent the previous week.  With this he’ll be able to see:

             o   if something was charged without his knowledge;

o   a summary of his expenses categorized for tax purposes.

All this for 5-6 hours a month, depending on how much activity he has.  For some people this is a no-brainer, simplifying your financial life? Having a clear picture of what you have and what you can spend? No work at tax time? Many of us think that would be the answer to our prayers.  But here I am offering this service, and he’s hesitant.

I think the real issue is pretty clear – fear.  So many people are afraid of their money – afraid of seeing it, afraid of not seeing it, afraid of spending it, afraid of not spending it, afraid of losing it, afraid of being afraid of it.  Once we take the focus off of money itself and realize the fear is around what we think it represents, that will be the first step.