Your Questions Answered: Advice from Christine Matlock - Reno Bookkeeper and Financial Coach

Anyone who runs their own business knows how much work, passion, and commitment goes into it. Though being a business owner isn’t easy, it’s 100% worth the perseverance and dedication that you give it. While you’re busy trying to build your empire, who’s focusing on your finances? If you’re doing it yourself, which most business owners are, how do you balance it all?

Creating a successful business takes a lot of time and effort from you, but it also requires some outside resources. For you to focus on important business objectives like creating new ideas and opportunities, you need to hire some professionals to help you maintain your other business essentials. Consider hiring Christine Matlock for Reno financial coaching and bookkeeping services. Here’s some more advice from the professional herself.

What advice can you give me on running a successful business?

My best advice - hire a bookkeeper and a business coach right away. Be sure to have an attorney, CPA, and insurance agent relationship for those business needs and join a networking group like BNI to start making connections. At Prosperity Concierge, we offer Reno financial coaching and bookkeeping services tailored to meet your specific financial needs. Along with this, we’ll recommend preferred business partners for your business as well. Instead of searching for a CPA or an attorney yourself, let us do it for you. We can refer you to the right people to help your business run as smoothly as possible, giving you the gift of time while increasing your bottom line.

How do I choose the right payroll service for my business?

Choosing the right payroll service depends on many things, such as:

How Many Employees You Have
If You Offer Benefits or Not
Whether or Not You Operate in Multiple States
And What Your Workers’ Compensation Insurance is Like

If you have one or two employees, then maybe an online payroll service like Gusto or Intuit Quickbooks payroll is the right fit for you. However, if you have ten or more employees, you may want to go with a specialized company such as BBSI, which offers more than just payroll. They can assist with recruiting, workers’ compensation, drug testing, and other human resource tasks. Prosperity Concierge is here to help you decide how to run your payroll by partnering with Gusto, Intuit, and BBSI for payroll and Reno bookkeeping services. Payroll services are not expensive and are highly recommended. Let Prosperity Concierge guide you to the right payroll and bookkeeping services in Reno, NV for your business.

What are some tips you have for budgeting money throughout the month?

“Budget” can be a dirty word - but it doesn’t have to be. To us, budgeting simply means telling your money where to go instead of wondering where it went. A budget doesn’t always have to be restrictive. We can help you find ways to save money and build wealth, all while still enjoying life with our Reno financial coaching services. We can certainly help you with an intense budget with strict guidelines to help you pay off debt fast and make some behavior modifications. Having a written budget with all of your monthly expenses listed and your monthly income accurately accounted for each month is key to financial success. And prioritizing the essentials like housing, utilities, clothing, transportation, and food is critical. Most of these categories have a consistent amount each month and leave you with peace of mind knowing what has to be paid and the money you will have left for other bills.

Consult a Reno Bookkeeper and Financial Coach

Prosperity Concierge can help you assess your finances to determine the best ways to use your hard-earned money. Do you have vacation goals? Want to buy a house? We can help with our financial coaching and bookkeeping services in Reno, NV. Let’s start building wealth and leave a legacy of financial literacy for your children and generations to come!

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What is the Difference Between a Financial Coach and a Financial Advisor

If you’re considering hiring a professional to work with you on your finances it’s important to know the distinctions between these two. This is one of the most commonly asked questions, but very easily misconstrued. Knowing the difference can help save your precious time, and more importantly, help save your hard-earned money.

What Does a Financial Coach Do?

The main goal for financial coaches is usually just to improve your financial literacy, and teach their clients how to handle their finances responsibly. They act much like a coach where they are improving their client's skills and knowledge to enable them to save money, pay off debt, or create a budget. A good financial coach has the following:

Completed their formal training and earned their certifications.
They can help you develop a positive healthy relationship with money, strategically plan for savings, and paying off debt quickly.
They assist with creating an individualized budget that doesn’t have to be restrictive but will keep you on track for your financial goals.
They analyze behaviors and help you develop better habits with money.
They provide accountability and guidance for you to reach and surpass your financial goals.
Financial Coaches and Financial Advisors can actually work together to help you create your legacy and build wealth.

What Does a Financial Advisor Do?

A financial advisor must be licensed and has more of a hands-on approach to your finances. A good rule of thumb is that you hire a financial advisor when you have disposable income and are ready to invest. They usually have a more in-depth understanding of finance and are qualified to give you financial advice in investing, planning for retirement, estate planning, and long term care planning.

What is the Difference Between a Financial Coach and an Advisor?

The main difference between the two is that a financial advisor is qualified to give you advice on what financial moves to make, where a financial coach is there to increase your financial knowledge and skills to make you more fiscally responsible.

Financial coaches are better for those of you who are younger and still gaining wealth and assets. Financial advisors are usually a better fit for those who have accumulated wealth already or those who are inheriting a large estate and need advice on how to handle all of their assets.

Financial coaches are also best fit for those who are tired of living paycheck to paycheck and are drowning in debt. A financial coach can lead you on the path to wealth and then refer you to a financial advisor. Much like a health journey where one is tired of being overweight, you must make changes in your financial health to make it work!

Connect with Christine Matlock: Reno Bookkeeper and Financial Coach

A financial coach at Prosperity Concierge can help you establish a healthy relationship with money by helping you create a practical budget, creating goals to pay off bills and debts, teaching you ways to modify your money practices, and working towards financial wealth and prosperity.

Not only will learning how to properly manage your money help you financially, but it could also help improve your overall confidence and well-being. Stop stressing about your finances and connect with Prosperity Concierge today! We will help you make appropriate decisions with your money so you can reach your financial goals without complication. Head over to our services page to learn more about our financial coaching services.

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