Setting up Simple Financial Management Saint George UT

Sometimes you don’t need a lot of money to start a business. What you need instead is good financial management. If you plan carefully, control spending, and monitor the money that comes into your business and the money that goes out, you can prevent a monetary emergency later.

Karl Ashliman
Malvern Capital Management, LLC
(435) 656-0718
190 Shadow Point Drive
St. George, UT
Expertises
Ongoing Investment Management, College/Education Planning, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. Dan Wyson, CFP®
(435) 986-9525
1173 S 250 W Ste 505
Saint George, UT
Firm
Wyson Financial
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Investment Management, Retirement Planning, Risk Management, Sudden Wealth Management

Data Provided by:
Mr. Chad W. Parker, CFP®
(435) 628-8773
20 N Main St Ste 401
Saint George, UT
Firm
Periope, L.C.
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000



Data Provided by:
Mr. Kevan B. Matheson, CFP®
(435) 652-7004
170 S River Rd
Saint George, UT
Firm
PrimeVest Financial Services, Inc.
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning, Healthcare Planning, Investment Management, Retirement Income Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $50,001 - $100,000

Profession: Not Applicable

Data Provided by:
Jeffrey J Monson, CFP®
(435) 674-8162
1 S Main St
Saint George, UT
Firm
Wells Fargo
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Estate Planning, General Financial Planning, Investment Management, Retirement Planning

Data Provided by:
Mr. Lester M. Halstead Jr., CFP®
(435) 673-9599
640 East 700 South, Suite 302
St. George, UT
Firm
Brock and Associates, LLC
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Cross-Border Planning, Debt Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Not Applicable

Data Provided by:
Mr. Kim L. Cowdell, CFP®
(435) 688-7283
1150 S Bluff St Ste 5
St George, UT
Firm
Cowdell Financial & Associates
Areas of Specialization
Employee and Employer Plan Benefits, Estate Planning, General Financial Planning, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $100,001 - $250,000

Profession: Business Executives

Data Provided by:
Darin J. Atkinson, CFP®
(435) 628-8248
1060 S Main St Ste 2
Saint George, UT
Firm
Northwestern Mutual
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Dustin Lamar Woodbury, CFP®
(435) 688-8800
1173 S 250 W Ste 201
St George, UT
Firm
Raymond James
Areas of Specialization
Accounting, Estate Planning, Tax Planning, Tax Preparation

Data Provided by:
L. Lamond Syphus, CFP®
(435) 619-5733
20 N Main St Ste 301
Saint George, UT
Firm
Wall Street Financial Group
Areas of Specialization
General Financial Planning, Investment Planning, Retirement Income Management, Retirement Planning

Data Provided by:
Data Provided by:

Setting up Simple Financial Management

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Don't Launch Your Start-Up Until You Have the Finances Under Control
By Nora Caley

Sometimes you don’t need a lot of money to start a business. What you need instead is good financial management. If you plan carefully, control spending, and monitor the money that comes into your business and the money that goes out, you can prevent a monetary emergency later.

Besides preventing disaster, there are other reasons for sound financial management. If you know how much money your business is making and where the money is going, that can help you estimate your future profits. By making accurate projections, you will be able to decide whether you should expand your business. Your well-organized and accurate financial records might help you get a loan or other funding.
Financial management also makes it easier for you to pay taxes. If you are a sole proprietor or you are self employed, you don’t get paychecks with taxes withheld. Instead, you have to pay estimated taxes four times a year, and financial management makes it easier to figure out how much to pay.

Another reason to maintain good financial management is the analysis helps you see whether your business is succeeding. Sometimes when a business fails it’s not due to a lack of sales, but the inability of the business owner to control how much money the company spends, and how quickly the company gets paid for the products and services it sells. Proper financial management will help you keep track of these important details.

Getting Started

First, make sure you separate your business funds from your personal funds. That means different credit cards for your business and your household, and separate checking accounts.
If you have written a business plan, you might already have a projection of your business’s income and expenses for at least the first year. You can use this part of your plan as a guide for the more detailed financial plan you will write.

If you didn’t write a business plan, or if the financial pages of your plan didn’t include a lot of specifics, then write a cash flow analysis for your business. Start with a spreadsheet. If you have Microsoft Excel, set up a spreadsheet in which the column headings are months, and the rows show money in and money out.

The first row should be Cash On Hand. That’s your starting point, the money you have in the business checking account. The next few rows could have titles such as Cash Sales, Collections from Credit Accounts, and Other Cash Injection. On the bottom of that section, put a row called Total Cash. This section shows cash you actually have, not customers’ payments that you expect will arrive in the mail or be deposited into your account soon.

The next rows show the cash paid out. These rows include purchases of raw materials or ingredients, office supplies, advertising, gas mileage, shipping, and other categories. Don’t forget to include loan payments, credit card fees, and checking account fees. On th...

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