Check the piggy bank and pay some bills
There is no greater holiday killer than an overdrawn bank account or a call from an irate supplier whose bill didn’t get paid.
Take some time today to ensure that there are enough funds in your account to cover these outgoings during your absence. Those direct debits you set up are still going to happen, even if you are away. If you followed our tip last week regarding chasing debtors then you should be in a good position.
Now is also the time to make sure the small guys are taken care of before Christmas. My old boss was an ex-banker who worked to the rule of always paying the small guys (think other small business operators and freelancers) first as they tended to be the ones who needed and appreciated the payment most. His philosophy was that the big corporates could survive without your money until the bill was due and that if we did right by the small guys, they would do right by us (which they did!).
You can use your internet banking to schedule payments to happen in your absence. For those of you who are having a longer break, be mindful of the ATOs January deadlines.
If cash is tight and there are bills you can not cover, contact the payee today. Explain your situation, tell them when they can expect payment but do not bury your head in the sand! All this will do is put a dampener on your holiday as you will be stressing about the emails and phone calls which you will receive chasing the money.