Following the money pays off for business

Woodwise Ethics

By Allison L. Wood

Allison L. Wood formerly served as a hearing board chair and as litigation counsel with the Illinois Attorney Registration & Disciplinary Commission. She is principal of Legal Ethics Consulting P.C., where she partners with solos and firms to provide preventative ethics counsel as well as ARDC defense. Reach her at aw@legalethicsconsulting.com and follow her on Twitter at @WoodWiseEthics.

Posted September 23, 2014 2:59 PM

When I was growing up, I received an allowance for doing chores around the house. I was free to do whatever I wanted with the money. I could put it in my plastic bank on my dresser or under my mattress, or I could blow it all on candy or potato chips. I didn’t even have to report what I did with the money — until I ran out and had to explain why I needed an advance. This cycle continued until I realized that I needed to track how much money I was making, keep it safe and track how I was spending it. If …

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