Creator of Six Steps to Financial Comfort, Regina Lian is also a professional speaker, educator, and founder of Financial Comfort Inc. As a Charter member of the Intuit Speakers’ Bureau, she has presented technical demonstrations to accounting professionals and business owners. She is a Certified QuickBooks ProAdvisor since 1999, and is certified in every version of QuickBooks through 2007.
In 1997, she founded Financial Comfort® Inc. (www.financialcomfort.com) The firm provides services including outsourced bookkeeping, accounting, cash management and financial management. In its efforts to promote financial literacy through learning programs, Financial Comfort expanded by creating a state-of-the-art finance and technology learning center in New York City and currently highlights Teen Financial Awareness training.
Regina is an expert in budgeting and cash management. She received her M.B.A. in finance from Fordham University and her B.B.A. in accounting from Pace University. A “selective packrat,” this Quicken geek still has her 1989 3.5 inch floppy version of Quicken.
Where do I input a budget in Quicken? Dec 05, 2007 03:40 am
To get started, go to the drop down menu and select Planning, then select Budget. If this is your first time inputting a Budget in Quicken, you need to create your first budget.
The screen will pop up with tabs beginning with SETUP. From here, follow the prompts. You will need to choose the various categories, both Income and Expenses, for which you will budget.
Allow yourself reasonable time to become familiar with the budget feature. Good luck!
How do I put my holiday funds to work until I'm ready to shop? Dec 05, 2007 03:46 am
What is your strategy for saving for the holiday season? It always seems to come quickly, and I'd like to prepare more, but I don't want my money to just sit around--how would you put it to work in the short term (6 mos.)?
How do I put my holiday funds to work until I'm ready to shop? Dec 05, 2007 03:55 am
I'm glad you have a habit of setting aside money.
Take advantage of high-yield savings and money market funds. Find one with no fees and no minimums. Since we're talking short-term (6 months), and you DO plan to spend this money, there is no need to make a riskier investment that may or may not yield a higher return.
Once you open your new account, add it in your Quicken accounts so you can keep track of your interest as it accumulates.
I have a budget gift list. How do I compare my actual spending? Dec 05, 2007 04:32 am
Set up a category in Quicken called HOLIDAY SPENDING. Create or input your total budgeted gift list amount in that category as a budget.
As you spend, track this in Quicken. If you are charging, show each charge and select your new HOLIDAY SPENDING category. If you use cash, you can also keep track using this category. Use the memo field to note the recipients of your purchases. (This may help with next year's holiday budget.)
To see how you're doing, run a report. Reports > Spending > Budget.
Wednesday Tip from the Expert: Earnings Plan Dec 05, 2007 04:43 am
Didn't set funds aside for holiday shopping?
-Start now to handle this better next year.
-Keep track of this year's spending.
-Set up specific categories so you'll know what you are spending on.
Earnings Plan: You'll need more Income to cover your holiday spending.
-Find a short-term part-time job.
-If you are an hourly employee, ask your boss to approve more hours.
-Have you been adding more value to your employer? Have you taken courses, become certified, or assumed additional responsibilities? Approach your boss about a raise, noting the added value.
-Is it time to find a new, higher income job?
