Few of us are immune to the added pressure of wanting to ensure that our loved ones enjoy the Christmas festivities and to give them gifts that will please them.
Instead of worrying about the future, it can be useful to use the holiday period as an opportunity to plan for next year and in particular to prepare a cash flow forecast.
Businesses in rented premises, for example, may be facing a quarter day rent falling due on 25th December. December is often the end of a VAT quarter and for many it is a short month with offices and factories closing for the holiday period. The pressure on cash flow at this time of year needs careful budgeting to ensure you have sufficient funds to pay bills during the quiet period as well as allocating funds for next year’s plans, whether marketing, stock, staff or more ambitious initiatives.
It is useful to work out a realistic budget, write it down, and stick to it. This applies to both business and home.
The planning process and allocation of cash will prompt you to decide what is really important and introduce discipline of spending it in a planned rather than reactive manner.
If the prospect of next year leaves you struggling to feel positive and optimistic remember there are plenty of people who are much worse off and perhaps lonely at this time of year. You could do wonders for your state of mind and for your business reputation by allowing your staff the time off to volunteer to help out at a Christmas charity or and encouraging them to organise a fund raising event.
We hope that some planning will help you feel in control in such a way that you don’t need to worry about the future and can enjoy the Christmas season.