Monday, January 29

A Worthy Goal: Finding Lost Money

The past year has been very busy for me business wise and I have billed very handsomely, but every time I start to do my invoicing I curse my poor record-keeping. I am positive that I lose literally thousands of dollars every year due to not invoicing all my work. If I frame that lost money in the context of my net worth and early retirement goals it looks as if I am working against myself.

Shocking? Absolutely.

So my goal starting immediately is to become a fabulous recorder of time spent working. I am going to hold myself accountable on my blog by noting every day the number of billable hours.

Today's billable hours: 5.0
Today's contracted hours: 1.0
(Contracted hours are paid by a monthly retainer, but I will make an effort to track them anyway.)

I am not going to set my sights too high by planning to track administrative time or anything else. But spending 15-30 minutes each day on time tracking should pay off for me with hundreds of dollars more each and every month. A worthy goal? Absolutely!