It’s April, which means the snow is giving way to rain, the grass is peeking through with a little more colour, the garden is waking up—and yes, it’s also tax season.
At our firm, we have regular Lunch and Learn sessions, and this month’s topic is a very grown‑up one: finances and financial planning. We always stay in our lane for client work and refer out on financial matters, but being a successful law firm also means learning enough to have some good conversations around the topic.
One of the most practical bridges between financial planning and day‑to‑day business management is a simple, well‑kept budget. This is especially helpful in the first few years of a new business—you quickly see where costs creep higher than expected, and where you might be under‑spending.
Start with the easy wins: fixed monthly expenses like rent, phone, and internet. Then layer in the tricky, variable items—equipment repairs, software costs, and professional fees (including, yes, lawyers). A quick example: if your software renewals tend to land in September, set a reminder in June to review licences—right‑sizing before renewal can save you from surprise increases.
Build a routine to review your budget regularly—note where you did well, and where a second look might help. Think of it like tending a garden: small, consistent care beats a once‑a‑year overhaul.
While we are not the professionals to engage for budgeting, we are happy to point you in the right direction. And since April puts money matters top‑of‑mind, it’s the perfect month to talk budgeting and planning around a table with great food and even better conversation.
Christine Allan, Sr. Law Clerk and Firm Operations Manager