Budgeting for Results Program

We all have Financial goals. But do you really have a Plan to get there?

Planning for your future requires understanding where you are, financially, today and that isn’t easy.

We can help.

At Red Seal Financial Ltd., our Household Budgeting Service will help you understand where your money is coming from and where it is going, making your financial affairs 100% transparent to you. At the end of one year you will be able to see where every single penny of your hard-earned money has gone, for better and for worse.

Our process will help you track spending patterns and identify cost savings that can, in some cases, save you thousands of dollars in the first year. And the long-term, compounding effect of those savings can make a huge difference to your retirement goals far outweighing the cost of our service.

The result of our process can be life changing. Imagine having the skills to efficiently manage your household budget using modern tools that give you real-time insight into your financial affairs. Imagine having the freedom to spend your money on things that that are a priority to you, with the confidence of knowing you are not undermining your financial future.

At Red Seal Financial Ltd., we believe everyone deserves to live this reality and our goal is to help make this reality yours.

Are you ready to take the first step?

The Process

Kick Off Meeting

The kickoff meeting involves an initial appointment at the Red Seal office. In this appointment, we will setup a QuickBooks Online account for your household. This online accounting software will be configured to download transaction data from your online banking and credit card accounts. Together, we will code one month’s worth of existing transaction data to teach you how the tool works and to create a baseline of your monthly household spending. You’re on your way!

Monthly Bookkeeping Meeting

Every month, by webinar, we will spend an hour with you updating your Quickbooks Online account. This involves basic bookkeeping to identify and code transactions to the appropriate spending categories (i.e. Groceries, Auto Expenses, Entertainment, Childcare, Vacation, Retirement Savings, etc.).

Quarterly Analysis Meeting

Once per quarter we will meet at the Red Seal office for one hour to review your quarterly results. This involves doing a deep dive into your income & expenses to identify patterns, look for cost savings, and set goals for the upcoming quarter.

Annual Review

The annual review consists of a meeting at the Red Seal office where we will review, month over month, the past 12 months’ results. In this meeting, we will discuss the trends in your household spending pattern, quantify the cost savings that have been achieved, review progress made on financial goals, make recommendations for continued success and decide on the level of engagement for the upcoming year to keep you moving forward.

The Tools We Use

We use secure, enterprise level technologies to make the process efficient. These include:

• Quickbooks Online, a secure, cloud-based accounting software;
• Citrix GoToMeeting for one-on-one webinars; and
• The telephone & email for ongoing communication.

The Commitment

Our year-long process requires an investment on your part. In addition to the time we spend together, you will be asked to invest your own time to prepare for meetings and to do your homework.

You won’t be alone. Through this process you will have direct access to a Chartered Professional Accountant (CPA) and a Certified Financial Planner (CFP) each with years of industry experience to guide you through this journey.

The Result

The results of the process will include:

• A personal balance sheet detailing your assets, liabilities and net worth;
• A personal income statement detailing your month-over-month income and expenses, to the penny, for 12 months;
• An accounting software custom-configured for your personal circumstances;
• Cost savings opportunities identified and acted upon saving you real money; and
• The skills & confidence needed to stay on top of your personal household budget for the rest of your life.

Ready to take the next step?

If you think our Budgeting for Results program sounds like something that can help you and your family, reach out to us today to learn more.