Your 2023 Financial Checklist

As the new year fast approaches, it’s an excellent time to re-evaluate what you have achieved this year and what you want to accomplish in the coming year. It is important to acknowledge all that you have achieved, whether that has been finally making the jump to contracting or taking on more clients than previous years. Whatever it is, it’s time to pat yourself on the back and start planning for an even more successful year to come.

At Icon Accounting, we want whatever it is you're hoping to accomplish to be achieved. Here is our 2023 checklist to make 2023 your best year of contracting yet!

1. Set your 2023 goals!

A great place to start is to set your goals for the incoming year. Having a goal in sight can drive you to achieve them and push yourself that bit further. It’s easier to work harder and achieve more if you know what you’re aiming for. No matter how big or small your goal is, we are here to help you achieve it. If your goal is connected to your contract, you should discuss your strategy with your assigned account manager so they are aware of your objectives and will offer support and suggestions.

2. Master your skill

As an Independent Professional Contractor, you rely heavily on your own skills as an income generation tool. It is a major part of what differentiates your work from others.

Although you may have learned many competencies since you started your career, markets constantly evolve, so obtaining new skills or refreshing current ones will ensure your capabilities remain relevant. To maximise your potential, and indeed your rate of pay, as an Independent Professional, you need to aim to achieve expert status within your field. So why not try to master your skill this coming year? Whatever you decide to work on, stick with it and it is sure to pay off. 

3. Take the time for a financial review

The end of the year can be a great time to take a look at your financial situation. 

Take the time to discuss your current financial position with an expert. As part of the Icon Accounting service, you gain access to a wealth management partner. They will offer you a financial review free of charge. 

4. Self-assessment

Sometimes you need to take a step back and assess how contracting is working with your life. For example, how is your contracting role fitting in with your personal goals – this could include your work-life balance, income, job satisfaction, time management etc. 

What has this year of contracting taught you? Does this fit with your values & personal goals? Is there anything that needs to change in 2023 or that you would like to build into your goals for the year based on the wider ecosystem of your contracting role and your life?

5. Try to prepare a budget

It can be a good idea to take the time at the end of the year to look back at your year’s spending. Using your knowledge from this exercise you can attempt to make a rough budget for the coming year. We know it can be difficult to accurately budget at this point (no one knows what is around the corner), but it is important to enter a new year with a rough idea of your budget and how you will allocate your finances. 

6. Get in touch!

Even though you are an independent professional, you don't have to go it alone. An accountant can significantly impact your life by assisting you with some of your everyday financial responsibilities and giving you important financial guidance.

Accountants can help you create a system for your financial record keeping that you can comprehend and can guide you through your financial (tax) processes. 

If you are a professional that is interested in hearing more about the benefits of working with a specialised accountant, please reach out to our team by emailing info@iconaccounting.ie or by calling 01-8077106.