Accountant by Day
25Oct/119

How much money is enough?

Win $50 - this is the final prize in AccountantByDay's series of October giveaways. Click here to enter.

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dog with toy

It doesn't take much to make a dog happy

How much would your annual income need to be before you feel "comfortable"? How much would it need to be for you to feel rich?

Ironically, some days I feel more rich than comfortable. I live with roommates that make a lot less money than I do, and I don't have the money shortages they do. But I think I would need to spend five times more on rent to really feel "comfortable" about where I live.

I could go out tomorrow and pay two times as much for a nice, quiet one-bedroom apartment, still close to work. But I have a dog, and in order to both live without roommates AND have someone to let the dog out, I'd want to rent a house with a yard, plus have enough money to pay for someone to take the dog on an afternoon walk (since busy season requires being away from home for over 12 hours a day quite often.) Being able to afford that would make me feel comfortable.

24Oct/1116

October First Anniversary Giveaway – Week 4

This is the FINAL GIVEAWAY celebrating the first anniversary of AccountantByDay. This week features a $50 Amazon Gift Card prize. Please use the RaffleCopter widget below! Good luck!

If you're a new reader, start here:



22Oct/112

October Giveaway Winner Week 3

After looking through 134 entries, the winner is Deborah. Congratulations! Look for your $75 prize arriving in your inbox any minute now!

Other giveaways to enter now:

Review of 3rd Giveaway

I listed the giveaway on Online-Sweepstakes again, with many more entrants than last week's, although not as many entrants as the first give away.

Giveaway visitor stats:

(Visits) [Page views]

0. Week before any giveaways (736)  [2,194]
1. Week of first giveaway (996)  [3,295]
2. Week of second giveaway (776)  [2,416]
3.
Week of third giveaway (926) [2,964]

The total number of visits this week still do not rival the visits in the first week of the giveaway, but the increase from week 2 to week 3 is 150 visitors, but the number of visits driven through Online-Sweepstakes.com is only 108 in week 3, so at least 42 of the new visits seem to have been generated through other means.

My alexa ranking has been hovering around 250k since the contest began. I've seen it at 248,000 - today it is at 253,000. So the giveaway gave it a poke, but I'm not sure if it has sticking power.

Thanks for participating, and look for the next contest announcement on Monday!

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21Oct/113

Life of an Auditor: Scheduling Audits

Pile of colorful leavesThis post is part of a series where I write about the daily life of an auditor, based on my own experiences, of course. I am getting ready to start my second busy season. There is always so many new things to learn!

Things have been pretty quiet around here after some recent deadlines. However, audit season begins in January, and before then we have all kinds of planning work to get to.

In my first year, I was not very involved with audit planning, even though us first years began on October 1st. This year I have 3 clients that I will head to during November and December for preliminary audit work. I should also have some extra inventory counts this year, since I have been asking around if anyone needs someone to count inventory. (Yay, more billable hours!)

18Oct/118

Setting professional goals: planning your career

Enter this week's giveaway for a chance to win $75!

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We recently had our annual reviews at work, and as part of the process, we were asked to set some goals for the upcoming year. By all accounts, these goals are not really followed up on by management, but I put some thought into my goals anyway, because they're MY goals and it's MY responsibility to follow up on them.

After setting my goals, I thought I'd share some tips on setting your own goals, whether it is for your annual performance review, or just for your own benefit.

Setting professional goals forces you to think about your career, and to broaden your view from the here-and-now, to the future. You may be scrambling to do all your work well in the moment, but take a minute to think about 5 years from now, or 10 years from now, and what you need to do to get where you want to go.

Maybe just doing your work each day isn't enough. Maybe you need to become involved in the community, find new clients for your company, seek out training events that you can attend, and then teach your coworkers about.

Figure out what your overall objective is first

Is your goal to make partner in the next 10 years? Is your goal to move into more of a business development role? Do you want to specialize in one industry?

Before you can set your goals for the upcoming year, you need to put some thought into your ultimate goal over the next 10 years. (Or 20. Longterm. However far ahead you think you can handle.)

If, deep down, you don't plan to make partner, then your annual goals now may be completely different. You don't need to point out to your boss that you are not attempting to make partner, of course!

Some of our former employees were interested in part-time work when they became parents. They handle monthly bookkeeping for some of our clients now, rather than working for us full time doing audits. It would also be possible to transition to working as an individual tax accountant - but our firm does more corporate taxes, while an individual practitioner would likely handle more individual and partnership returns.

Even if you don't work in accounting, you can still apply this to the job you are currently in. What direction do you want to go in from where you are now?

Figure out what your short term objectives are

Okay, now that I have set my long-term objective, I can figure out some short term objectives are.

Let's say I picked the  "partner" route. I'm going to want to make sure I'm assigned to some of our biggest clients, I'm going to want to network with other people at the levels in between me and partners. It depends on your firm what other objectives you might have.

Set goals that will help you achieve those objectives

You can't just set your goal to being assigned to the biggest client - you need to set goals that will help you get there. Maybe you'll attend an industry conference, to gain more knowledge about that client's industry in the upcoming year. Maybe you'll check with managers on that project first every time you're out of work to do during the year, and then make sure you do that work promptly and well.

At this point in the process, you are figuring out the actual steps you can wake up and do every day that will help you achieve your objectives.

How I applied this to my annual review

I set a goal to learn how to do a particularly tricky type tax return well - and then I laid out steps I can take to get there. I will read the regulations referenced in the form instructions. I will find a good example of how to do the return properly, and study the example. I will actively ask for more of this type of return to practice on.

I also set a personal goal to work more efficiently; I want to get my chargeable hours in and go home earlier this year. This is not a goal I shared with my boss, because I don't want to suggest that I haven't been using my time efficiently already... but that doesn't mean that I can't set it as a goal for the year anyway!

Your annual review

Does your employer have you set annual goals? Do they follow up on these, or leave them up to you to keep track of? What were your career goals this year?

17Oct/11126

First anniversary giveaway – Week 3

This week I will be giving away $75 again. If you are the winner of this week's giveaway, you will win:

  • $25 Amazon Gift Card
  • $25 Amazon Gift Card from Maximizing Money, "Stretching Your Money to its Maximum Potential." MaximizingMoney.com provides a wide variety of bonus offers, promotional deals, and special savings.
  • $25 Amazon Gift Card from Write and Get Paid, a blog that teaches you how to get paid for freelance writing work.

If you are a new reader this week, please start here!

How to enter the contest:

IMPORTANT: If you entered last week’s give away by liking on Facebook, following on Twitter, or subscribing to the RSS feed, these will count as entries again this week, but you MUST post a comment here saying that you have done these things in order to get counted for this week’s give away.

You can enter the contest by doing any or all of the following tasks, and leaving a comment saying which tasks you have completed:

1. Like the Accountant by Day page on facebook (1 entry)

Facebook

2. Follow KellenABD on twitter (1 entry)


3. Subscribe to the Accountant by Day RSS feed (1 entry)

Enter your email address:

Delivered by FeedBurner

4. Support a sponsor – leave a good, thoughtful comment on a post at Maximizing Money, and link to the post in the comments here. (3 entries) – I get to decide whether your comment counts – the key will be to show that you took the time to read the post and respond with something meaningful and relevant that adds to the conversation.

5. Support a sponsor – leave a good, thoughtful comment on a post at Write and Get Paid, and link to the post in the comments here. (3 entries) – I get to decide whether your comment counts – the key will be to show that you took the time to read the post and respond with something meaningful and relevant that adds to the conversation.

Contest entries close at Midnight EST on Friday, October 21th. Good luck!

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16Oct/110

October Giveaway Winner Week 2

Thank you to everyone for promoting and participating in last week's giveaway. The winner of the $75 prize is Anne Marie. Congratulations!

 

Review of 2nd giveaway:

This week I did a little experiment and did not list the giveaway on online-sweepstakes.com. The results were significantly fewer visits and page views.

(Visits) [Page views]

0. Week before any giveaways (736)  [2,194]
1. Week of first giveaway (996)  [3,295]
2. Week of second giveaway (776)  [2,416]

So there was still some growth from week 0 to week 2, but there was a definite spike in week 1 when the giveaway was listed on online-sweepstakes. In week 1's giveaway, I only gave away $25. Week 2 we gave away $75.

I think that more people helped promote the giveaway in week 2 (thanks Yakezie folk!), but it seemed like fellow Yakezie folk weren't too interested in entering. It would have been an easy prize too, since we only have 28 entries this week, versus 174 entries the first week. I think that I also did more work commenting on a wide variety of blogs the first week. The second week was very busy at work, with some late nights, so not much opportunity to attract traffic through commenting.

The third giveaway will be announced tomorrow, on Monday. We'll be giving away $75 again, thanks to some more awesome sponsors. I will be listing the giveaway on some more giveaway sites this time, since I think the added traffic affects my ratings, even if they don't stick around to become readers.

I would also like to use rafflecopter this week, since I have seen some other folks using it on their giveaways, and it looks pretty spiffy.

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14Oct/117

Where will your next vacation be?

I was planning to give you guys a post today on how we can create new jobs and fix the economy, however, I haven't *quite* reached my conclusion yet... maybe next week!

In the meantime, let's talk about vacations. I think my next vacation will be to Spain - my one uncle turned 60 last year, and the other one will turn 60 this year, so we are getting together for a big family celebration. We all live in different countries, and Spain is roughly in the middle, so we're going there!

You'll notice that I have a little "progress meter" in the sidebar, and that one of my goals is saving up $2,000 to go to Spain. My uncle will pay for accommodations, so I figured I'd just need enough to buy my plane ticket, and then some spending money. Now, it's looking like I'll need all of my savings just to get there.

I always thought that when I had a full-time job, I'd be able to travel each year, but building it into a budget is tricky. I feel like I see a lot of other people traveling a ton. I think the key may be to just accept that if I want to travel, a significant percent of my monthly budget will need to go to saving up for various trips.

So where will I go? I speak some Spanish, so I would love to go to South America - especially Argentina. In Europe, I have already been to Italy once, but I would return every year if I could.

Sometimes countries advertise to get you to want to visit their countries. Like these ads for India:

Of course, a lot of countries have tourism as a major industry, so it's no surprise when their tourist attractions, or sometimes even the government, run ads to attract tourists from places like Atlanta. We have an "Incredible India" billboard that I drive by on my way to work each day.

What may surprise you is that a lot of countries put a lot of work into attracting immigrants to their countries (while we are building a wall to keep them out??). For example, many wealthy, educated, white South Africans were emigrating in the early 1990's. The government was changing in South Africa, and it was becoming a more expensive and dangerous place for those people. (That's one of many reasons people moved.)

Countries like New Zealand, which is not very populous, made it very clear to these people that they (and their skills) would be welcomed in New Zealand. (It's very small and rainy. But looks beautiful in Lord of the Rings. I want to go there too!!)

When I was living in Mexico, I met a Korean family, recently moved to the city from Korea. They spoke English, but told me that they were honestly surprised that they needed Spanish in Mexico. Apparently in Korea, they received a lot of advertising from the German government or perhaps private language schools, that made them think that German was quite widely spoken outside of Korea. Since no one was marketing Spanish classes to them, they figured that most people learned English like they did in Korea, and that Spanish wasn't really used much. It amazes me that they thought German was much more commonly spoken than Spanish, when of course, even in the U.S. where English is the official language, Spanish is very widely spoken.

Lesson 1: Advertising is a huge influence on us, and alters our perception of the world. It's good to be aware that your mental image of a place you have never visited is based on media, TV shows, etc, and could be very different from reality.

Lesson 2: Traveling also alters your perception of the world, hopefully towards a more realistic perception. You probably still won't perceive truly what a foreign country is like, since I've noticed a lot of people living in a new country tend to take their own experiences and generalize it to the whole country. (A language teacher I had kept insisting "You Americans have such huge houses!" - which is somewhat true, but seemed to blind her to the fact that just because SHE lives in a 5 bedroom house now that she lives here, everyone in the class she was teaching were students living in smaller, shared spaces.)

Where are you planning to travel in the next 5 years? Do you take annual trips? Small trips? Or do you save up to take a whole month to visit somewhere every few years? What is your favorite place you have visited on a holiday so far?

12Oct/1113

September cash flow update

September was a disappointing month for tracking cash flow - I ended down $40! To be fair, I have an outstanding reimbursable expense of $300, which will be paid this Friday, but cash flow is cash flow, and even if I'd received that $300 by the end of the month, I would have missed my target by quite a bit.

I had $400 in blog income in September, which means that extra savings should have been at least $400.

Some negative factors in September spending

  • Spent $200 getting some dents patched up on my car.
  • Spent extra money on gas going back and forth to my parents' property this weekend. My sister was visiting my parents, so I went up twice in one weekend. I spent $155 on gas in September - if I only visit the parents twice a month, that's usually more like $80.
  • Went to an un-budgeted-for concert. Manu Chao came to Atlanta! I think this was worth it.
  • Utilities were almost $200 in September vs $130 in August. Of course, they were $220 in July, so maybe that's no excuse.

Extra costs ahead in October

  • I realize we're already 1/3 of the way through October at this point, but there are still some extra expenses coming up!
  • Car repairs - need to take my car to a body shop to get the side view mirror replaced. Also, my car is making a weird noise when it comes to a stop, so that needs to be checked out.
  • Vet visit - my dog is due for her annual check up and shots. Need to make this appointment!
  • Work clothes - busy season is coming up in January, and I need new shoes! I think I will spread it out and buy one pair of shoes each in October, November, and December.

There are a lot of purchases I have been putting off, thanks to my new budget, such as new shoes for work. I'm glad that I did put these off, because it made me realize that I don't need to own 10 pairs of work shoes, for example. I managed to get by with only 2 pairs all summer, without anyone noticing. The main problem is that the shoes get more wear, and need to be replaced sooner, but I think it's still better to buy one pair I really like at a time, rather than going out and getting 5 pairs, and then not wearing some because I like all of the others better.

Lesson: Putting off something you'll have to pay for eventually anyway can still be beneficial, because it forces you to understand what you really need, and how badly you need it (or don't need it.)

I will continue to stick to a tight budget, and tracking my cash flow, until I start to feel like I really understand where the money is going. It still surprises me that I had $400 of extra income in September, yet ended up $40 in the red, even though the reasons I laid out above are enough to explain it. I think the more I do this exercise, the more aware I will be of which purchases are going to push my monthly cash flow into the negatives.

 

 

10Oct/1117

October Give Away Week 2

Welcome to the second Accountant by Day October give away! I am giving away prizes all month to celebrate the first anniversary of Accountant by Day. Last week we gave away $25. Thanks to generous sponsors, this week’s prize is $75.

If you're new to Accountant by Day, start here!

The winner will receive:

$25 Amazon Gift Card from Accountant by Day

$25 Amazon Gift Card from Retire by 40 – follow Joe’s plan to quit his day job before he turns 40 by investing in real estate, making income online, and building a portfolio of dividend stocks. Pay Joe a visit - click here.

$25 Amazon Gift Card from Prairie Eco Thrifter – Miss T has put together an incredible resource for people interest in going green on a budget. Prairie Eco Thrifter is chock full of great ideas, tips, and resources for the frugal, yet environmentally conscious reader. Head on over to Prairie Eco Thrifter - click here.

How to enter the contest:

IMPORTANT: If you entered last week’s give away by liking on Facebook, following on Twitter, or subscribing to the RSS feed, these will count as entries again this week, but you MUST post a comment here saying that you have done these things in order to get counted for this week’s give away.

You can enter the contest by doing any or all of the following tasks, and leaving a comment saying which tasks you have completed:

1. Like the Accountant by Day page on facebook (1 entry)

Facebook

2. Follow KellenABD on twitter (1 entry)


3. Subscribe to the Accountant by Day RSS feed (1 entry)

Enter your email address:
Delivered by FeedBurner

4. Support a sponsor – leave a good, thoughtful comment on a post at Retire by 40, and link to the post in the comments here. (3 entries) – I get to decide whether your comment counts – the key will be to show that you took the time to read the post and respond with something meaningful and relevant that adds to the conversation.

5. Support a sponsor – leave a good, thoughtful comment on a post at Prairie Eco Thrifter, and link to the post in the comments here. (3 entries) – I get to decide whether your comment counts – the key will be to show that you took the time to read the post and respond with something meaningful and relevant that adds to the conversation.

Contest entries close at Midnight EST on Friday, October 14th. Good luck!

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