Financial management of a law office involves managing the financial aspects of their practice. Management of office focusing on its income and expenditure is most important. Modern law firms have found a major shift in the aspect that they are client-centric law firms rather than attorney-centric firms of the olden days. To meet the exceeding client demands and expectations law firms must ensure utmost financial stability. Technology has made crucial contributions to meet the increasing demand of precision in the day to day financial transactions of law firms. Several financial, accounting and billing software applications to aid the lawyers are available in the market today. The combination of old familiar financial strategies and effective use of modern technological aids shall ensure prudent financial management of a law office. When financial assessments are made possible through technological assistance, any law office is forced to make strategic financial decisions before investing in three important areas involving their practice. They are: location of the firm; equipments purchased, used and maintained in the office; and their insurance coverage.