Despite what people may say when it comes to money and its ability to make you happy, the reality is that with more money, you’re going to be able to do more of the things that make you happy than someone who has a bank account with a whole twenty dollars in it. However, we don’t, as a society, really do all that much to instill good habits when it comes to the management and saving of money; we’re a society that puts a lot of emphasis on buying things right now, even if you have to buy the things on some form of credit or payment plan that is really a bad deal for us in the long run, but we don’t care, because we’re getting what we want, when we want. This isn’t a great way to live your life, although it is enjoyable in the short run.
Because we are, as a society, so terrible at saving and managing our own money, it has led to the rise of groups that are dedicated to helping save you from yourself, so to speak, and to help you figure out how to put away some of the money you’re hopefully earning, as well as how to navigate the various financial transactions that our modern life requires. I’m speaking of accounting firms, and they’re really quite the miracle for anyone who needs assistance in putting away some money or investing it wisely, whether you’re talking about a few thousand dollars or multiple millions of dollars. Here’s just three ways they earn their keep, so to speak.
1. Tax filing
Filing taxes for anyone can be a real hassle. It’s no coincidence that, as we get further from the first of the new year and closer and closer to April fifteenth, people get more and more stressed out.
Then there’s all the work that goes into figuring out your taxes. Even if you’re lucky enough that you work for an employer who deducts your payroll taxes for you, and you don’t have any dependents, any debts, any liens, anything similar, it’s still going to be difficult to figure out your taxes. To put this difficulty into perspective, there are seventy-two thousand pages of tax code in the United States today, give or take a few dozen. The code changes in some way each year, although not every year’s changes will affect you. What are you to do?
Hire a CPA firm offering tax accounting services, and the whole thing becomes their problem to figure out, not yours.
2. Debt assistance
So, if you, like I did, have gone, or are going, to college, be it undergraduate or post-graduate work, you’re likely to know someone who is up to their eyeballs in debt. They have taken out loans for each year, along with (hopefully) putting a little bit of their own money into it, or getting a scholarship or two.
When you graduate, you have about six months to find a job and begin making payments, in general. These payments, for those who find jobs making around fifteen dollars an hour, can be well out of reach, especially when you consider how many dollars in loans you’ve taken out. However, with the help of accounting advisors, you can better negotiate a more reasonable rate of payment, even though you won’t be able to renegotiate your interest rate (most likely).
3. Money management
As I said in the opening here, managing money is a lost skill in the United States. We’re very much a society of ‘I want it, and I want it now, and damn the expense!’, as has been often remarked in various ways. We don’t like to have to wait for the things we want, whether it’s a new car or a new house. Because of this, we fritter away our money on payments instead of buying things outright.
This is where an accounting firm can help you save money. They can help set financial goals; maybe you want a new guitar (three thousand bucks plus for a high-end guitar), maybe you need a new car in two years because yours has been soldiering on long enough that it deserves a retirement and pension, maybe you just want to put a certain amount of money in your retirement fund. Your accountant will be able to help you set and meet these goals.
So, if you need help with the money aspects of your life, give a local accounting firm a call and see what they can do for you. It’s better than losing money, that’s for sure.