Financial Resolutions for the New Year

Jeffrey Yourkovich CPA

Weelunk Contributor

Did you make a New Year’s resolution this year?

Go to the gym, lose weight, be a better person, or save money?

Well, how about taking a hard look at finances and recordkeeping?

Here is what I mean. I have been seeing, with far too much frequency, the following types of stories in the national and local news:

  • Identity theft;
  • Fraud;
  • Mishandled funds;
  • Fraudulent credit card transactions;
  • Cashing bogus third-party checks;
  • Cash and property theft;
  • Unauthorized purchases.

These types of crimes have affected individuals, caregivers, small businesses, non-profit organizations, school districts, villages, and local governments. Just about every corner of a community has been affected.

Yourkovich - New Years Resolutions

So how about during one of these cold winter days or evenings you make a point to review your finances, review your personal and business operations, review your beneficiary designations, and evaluate your internal practices and procedures?

Look for signs or areas that are vulnerable to misuse. Monitor your credit with a free credit report. Suspect the unsuspected, even involving those closest to you.  Don’t be accusatory, but be investigatory. Put employees on notice that you will be changing or reviewing your practices and procedures.

Be diligent and be proactive.

Don’t be the next victim of a fraud or scam. Face the coming year with new financial resolve.   The start of the New Year is an opportune time to take steps to get your financial house in order and also to secure your assets.



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