Kenneth Boyd's Blog, page 21

Learn How To Dodge Downtime In Your Business

If you are running a company, then you always need to think about the risk of downtime. Downtime that lasts longer than a few hours could obliterate your company and cause you to struggle to keep the lights on. While your business is suffering from downtime, you could lose thousands each day that it is off the market and that’s just the beginning of your problems.

 

Your company could also quickly be forgotten. So, how can you ensure that a problem with downtime doesn’t take your company? Here are some of the possibilities that we recommend.

 

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Get The Right Supplier

 

First, you do need to find the right supplier in your business model. This is going to be particularly important if you are running an industrial company. You need to make sure that you have a fuel supplier for all your equipment. If you are interested in this option, click here to find out more information. A supplier like this must be able to guarantee a fast turnaround on the market.

 

Put Backups in Place

 

Next, you should make sure that you have backups in place. For instance, you might want to consider getting a backup power supply. The right backup power supply will instantly kick in when there is a power cut or if the power is disturbed. Do note that experts believe outages may become more common for businesses over the next few years. This means that backup generators will be a crucial piece of equipment necessary for keeping the lights on.

 

As well as thinking about a physical backup, you should also have a data backup for your business as well. This means that you will be able to immediately replace a data file that has been lost or damaged.

 

These days, data files are arguably just as important as physical equipment for the day to day operations of your business. As such, you do need to make sure that they are protected the right way.

 

 

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Complete Checks

 

Finally, you do need to make sure that you are completing the right checks in your business. For instance, one element to think about here would be checking that your systems are working to the right health and safety standards. If this is not the case, then it’s likely that your business will face a shut down until the situation is corrected.

 

You should also make sure that your networks are checked on a regular basis for security flaws. If there are any issues with security, then these should be corrected immediately before they cause damage to your business. You might not have the time or knowledge to handle this. As such, you should consider hiring an IT support service to complete this process for you regularly.

 

We hope this helps you understand some of the key steps that you can take to avoid downtime in your business model. If you explore the right possibilities here then you’ll be able to keep your business functioning as it should and guarantee that profits remain high in the long term.

 

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

 

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How I Lost 15 Pounds Over Thanksgiving (A Personal Journey)

Author’s note:

 

This is the story of an event that happened to me over Thanksgiving 2021. I hope you recognize and enjoy the hope, humor, and joy that I experienced, as I moved through this medical issue. At the end of the story, I detail what I learned about life, and how I intend to use those lessons moving forward.

 

“What workout gear are you bringing to Kansas City?”

 

This was the last thing my wife Layla said to me before I collapsed on the floor the Wednesday afternoon before Thanksgiving. To provide some context, I need to explain what happened in the days leading up to Wednesday.

 

Sunday, Monday, and Tuesday

 

Late Sunday afternoon, I lifted the corner of a bed, and I felt a slight pain along my lower back and in my stomach, which became more of an issue into the evening. Muscle pull, I figured.

 

I prefer to avoid over the counter pain meds, but I had difficulty sleeping. I know we have ZZZQuil, why not try that? I glanced at the instructions on the bottle, but it didn’t register that the dose is for 12 hours- and it’s now 2am. I finally went to sleep.

 

Morning was a little rough.

 

I got up at 8:30am, fully expecting to start my day- possibly taking a nap later. I stood in the kitchen and attempted to have a conversation with Layla.

 

“What’s wrong with you?”

 

Busted- I had to explain taking ZZZQuil at 2am, and the fact that I didn’t read the instructions carefully. I was in a slight mental fog until- you guessed it- 2pm.

 

I workout at a Lifetime Fitness near my house each day, and I didn’t feel quite right. The back and stomach pain subsided, but I stated to lose my appetite. I did my normal workout classes Monday, Tuesday, and Wednesday morning.

 

Wednesday afternoon

 

Layla’s family is in Kansas City, and we’ve spent Thanksgiving there for nearly 30 years. Our luggage was packed by the backdoor, so we could head to KC after work. That’s when Layla asked me about workout clothes.

I felt a huge pain in my stomach, and went down on the bedroom floor. We quickly decided to call an ambulance. As Layla went out to the driveway to meet the EMTs, I managed to move from the bedroom to the kitchen, and laid my head on the doggie bed, as the puppy stood over me.

 

Layla was startled to find me just inside the door.

 

The EMTs asked a number of questions, and speculated that I was passing a kidney stone. Sounded bad, but I knew people who had gone through the process. The EMTs helped me onto a stretcher and we headed for the Big Hospital. My primary care doctor was at Big Hospital, which is the only reason I chose it.

 

The ambulance trip

 

Before this event, I had a phobia about IVs, which I quickly forget about. As the EMT hooked me up, I said: “it’s my first time in a ambulance”.

 

Big Hospital is about 20 minutes from my house. Traffic was fairly heavy, as people were running errands or leaving town for the holiday. I realized that cars behind us could see me, but set aside the embarrassment.

 

Into the emergency room

 

I thanked the EMTs and they wheeled me in, setting in a hallway. The pain was becoming harder to manage, and I moaned every few minutes.

 

You’ll notice a number of lucky breaks throughout this story. One is that I was in the hospital in late November, before the Omicron COVID spike. The hospital rooms were mostly full, but the situation was manageable.

 

Some time went by- maybe 20 minutes- and I met my ER Doctor. He started me on morphine and told me that he was scheduling a CAT scan as soon as possible. OK, we’re making progress, I thought.

 

The paperwork

 

A well-dressed African-American man in his 40s came by. Black slacks, plaid jacket, expensive glasses frames- how can a guy in an ER look this good?

 

I struggled to get my driver’s license and insurance card out of my wallet (try it laying on a stretcher hooked up to an IV). “OK Mr. Boyd, all I need you to do is acknowledge what we’ve talked about my signing this pad with your finger.”

 

I tried twice, moaning in between. No luck.

 

“Oh, wait- the pad is upside down. Sorry!”

 

He smiled after I signed, and headed down the hall.

 

Getting the CAT scan

 

I owe a big debt of thanks to the man and woman who handled the CAT scan. The pain entering the room was becoming more intense.

 

“OK, we need to lay you flat on the machine.”

 

I can’t do it, I said.

 

“It will only take three minutes. We’ll make it quick- promise.”

 

Sparing some of the details, and pain was almost too much to bear. I moaning became more of a yell as a lay flat and held my arms over my head. As the staffers got me back on the stretcher- I apologized (I think).

 

When they wheeled me back into the hall I thought: I bet this amount of noise will get me into a room….

 

Some time passed- I don’t know how long – and I was taken into a room where Layla was waiting.

 

Wednesday evening

 

The ER Doctor came in. “The morphine doesn’t seem to be enough for your pain, so we’re going to put you on something stronger.”

 

There are drugs stronger than morphine?,

 

Turns out that fentanyl and other drugs are used in these circumstances. Finally, the pain began to decrease.

 

Layla never fails to look cute and put together in situations, including the hospital. She had already been putting out the Bat Signal to friends and family, including those we were supposed to meet in KC.

 

Another break: I could not have had a better Surgeon.

 

The Surgeon came in and explained what he needed to do, based on the CAT scan. My mind was hazy, but I did catch that I was “pretty ill” and that several things needed to be done (more on that later). Surgery was being planned for the next few hours.

 

The family

 

Layla and I have three kids. Kaitlin (30) in Denver, Connor (27) in NYC, and Meaghan (22) a Senior at Kansas- where Layla and I went to college. (We love her most, since she is the only child that picked our college).

 

We talked to the kids, and with two of Patty’s sisters in KC. We laughed that we were introverts, and that we were using surgery as an excuse to be by ourselves. JOMO: Joy Of Missing Out.

 

Surgery prep

 

Next, the Anesthesiologist came by- turns out he went to Kansas for undergrad. He told Layla that I could have a “range of outcomes”, depending on what the surgeon needed to do.

 

I changed out of the clothes for surgery- and found my Airpods in my pocket. Somehow, they had survived the ambulance ride, stretcher, and the CAT scan.

 

My Nurse Anesthetist was a woman in her 50s, who I immediately liked. Relaxed with a sense of humor, she had a Thanksgiving- themed hat. “I changed them up for every holiday”, she said.

 

Finally, I was wheeled into an elevator and taken up to surgery. Layla was shown into a waiting room, while I waited and met several surgery nurses. With Layla gone, I was surprised to notice that I didn’t feel anxiety about surgery. Every person I met was great, and there wasn’t anything I could do to stop the process, anyway.

 

In surgery

 

I’m wheeled into surgery- wow, the lights are bright. I count three pleasant-looking faces, along with the Nurse Anesthetist. They move me on to a narrow operating table. “Am I going to fall off the side- it’s so narrow?” They laughed.

 

My next memory- after surgery- is vague. I briefly see five people standing over me- why five? Just how serious is this? It felt like a NASCAR pit crew.

 

The procedure

 

Simply put, the Surgeon needed to fix three problems. My appendix was so infected that it was gangrene, which Mayo Clinic defines as “death of body tissue due to a lack of blood flow or serious bacterial infection.” The appendix perforated, and put holes in my colon and small intestine. Gross, I know.

 

The Surgeon removed my appendix, repair the holes, and got the waste out of my body cavity that built up from the damage. Lots of toxins, lots of problems. Fortunately, surgery did not cut through muscle- just 4-5 holes above and below my belly button.

 

Hospital room

 

When I woke up, I had a tube in my nose draining fluid, a tube in my side also draining fluid, a catheter, and an IV. The hospital stay was one big effort to get any remaining toxins out of my body, and to prevent infection.

 

Now, it’s important to point out that I was certainly uncomfortable, but not in a great deal of pain post-surgery. Moving those first few days was painful, but manageable. I had a six-inch long incision on my stomach that was packed with gauze.

 

By this time, it was 9:30 or 10pm. Layla offered to spend the night, and I asked her to go home and get some rest, where she could be comfortable. A night nurse was on duty. She said: “happy thanksgiving”, turned off the lights, and shut the door.

 

The only light was from the computer screen in the corner, and the small lights on the IV pole.

 

The hallucination

 

One more definition: a hallucination is defined as: “an experience involving the apparent perception of something not present.” As soon as the nurse shut the door I experienced something strange.

 

Imagine that you’re sitting in someone’s living room on a four-sided couch. You’re facing a section of the couch across from you, and on each side.

Above my bed I saw a group of people sitting on couches, life-size people. They were each leaning toward me with a wrapped gift. I had the sense that the gifts were for me. Each person had a mask on with a colorful drawing of an animal: one was a tiger, one a lion, etc.

 

It felt strange but not scary- and it disappeared in a few minutes.

 

Prayer and conversations

 

I have a list of people that I pray for, and I started through my list as I lay there that first night. It took my mind off my discomfort, and prayer was a great tool during my hospital stay.

 

I’m also a person who likes to engage with people, and I always said hello to each person who entered my room. Nurses came in periodically to check my vitals, ask about my pain level, and to draw blood (so much for that phobia).

 

The hospital vibe was very different at night: quiet, less noise and drama. Many on the night staff were young and had to work nights, but a good number said that they preferred it. I’d ask how things were going, or how many patients they had.

 

Thanksgiving Day

 

Well, I guess I should watch the Macy’s Thanksgiving Day parade.

 

I decided on a few rules while at the hospital. Once I got up for the day, I sat in a reclining chair next to the bed- and didn’t get back in bed until bedtime. Getting out of bed was really challenging those first few days. The wound was still new, and I was hooked up to four different tubes.

 

Other than bits of football and basketball games, I kept the TV off and either read or listened to podcasts.

 

Walking the halls

 

The other rule was to walk the halls, based on the nurse’s instructions- 3 times a day to start. I would hold the IV stand and one tube connection, while Layla would hold the two others. A very slow shuffle to start with, but getting out of the room made me feel less isolated.

 

I was on the 6th floor of Big Hospital. Layla and I would pause and look at the view as I walk my laps. The first time I saw myself in the reflection was startling: my weight loss, and all the tubes made me look frail- am I getting old? I try to never ask that question.

 

During my weeklong stay, I did not see another patient out walking the halls. Every room was filled, but I noticed most people lying in bed when I walked by. The nurses told me that getting patients to move was a struggle- and set back their recovery. Obesity was also an issue- many patients were heavy.

 

FaceTime to the family

 

Around 11am, Layla and I decided to FaceTime the relatives in KC. I noticed a lot of concerned looks as I explained what happened, and that we missed being there. Maybe video was a bad idea…

 

The rest of my hospital stay

 

In addition to prayer, I also used breathing and meditation tools that my yoga instructors teach. I had blood drawn daily, and my wound repacked with gauze several times a day. Both tasks were uncomfortable, so I would quietly breath deeply and focus on positive images. Maybe not so quiet- one nurse asked me: “why are you breathing so hard?”

 

The veteran nurses

 

I had two veteran day nurses who cared for me during the first 4-5 days. Hard-working, funny, passionate about their jobs. They also had student nurses who shadowed them most days.

 

Veterans have to teach new people in any profession, and my condition provided a good opportunity to learn. Generally, things went fine. There was one time when a trainee could not get an IV in place- took a few tries. I was cringing, but kept my mount shut.

 

My phone rang while the nurse was in the room- and before Layla arrived one day. My iPhone announced “Layla” and I had a short conversation. Later that day, the nurse told Patty (my wife’s real name) that I had talked to Layla. We had to explain that it was not my secret lover, just my wife.

 

 

Setting aside modesty

 

Nurses and Doctors have a job to do, and I had to set aside modesty to let them do it. I wound was above and below my belly button, so I was naked from the waist down when anyone looked at the wound or changed the dressing.

 

Often, I’d be naked and a nurse would say: “Oh- I forgot something. Be right back.” Layla and I started to count the number of times I was left naked as someone got supplies. We laughed about it.

 

When I was able to shower, it started with sitting on a bench with tubes covered, and Layla washing me, then drying me off. Nothing was left to the imagination.

 

Nurses would note the risks that the surgeon was able to minimize. I heard “he’s great- I would have him operate on a family member” more than once. The Surgeon and his Nurse Practitioner visited each morning, and I was impressed about how much he relied on the opinion of the nurse.

More clues about the illness

 

I got a number of comments about the seriousness of my surgery those first few days. As new people came into see me, they would sometimes mention reading my chart, and how fortunate I was. Younger people were more direct: “I read your chart- I’m surprised you’re still alive!”

 

I took it as a compliment.

 

Visitors

 

COVID limited visitors to Layla and one other person each day. Visitors lifted my spirits and helped me feel less isolated. I got texts and phone calls from a number of people, and my kids called periodically.

 

Layla was the constant- spending nearly 12 hours with me everyday. She never complained, and held down the fort at home. We enjoyed and valued the time together- a lot of laughter.

 

We’re practicing Catholics, but I passed on asking one of our parish Priests to visit. Priests are overwhelmed with requests, and I had plenty of people supporting me.

 

During one walk, we ran into a young Priest leaving another patient’s room, and he volunteered to come by and give me Anointing of the Sick. I regretted not getting this blessing before surgery, but asking for a Priest wasn’t top of mind, given how quickly I moved from ER to surgery.

 

The Priest began: “A reading from James: Is anyone among you sick?”

 

I started to cry as he read. After reading the passage, he blessed me with oil on my hands and forehead. I thought about how lucky I was- in so many ways- and how prayer had been such a great tool during tough times.

 

Moving toward release

 

The surgery and medication slowed down a lot of normal functions that gradually came back. Over time, I was able to urinate on my own, have a normal bowel movement, and I started eating again.

 

With the loss of appetite starting on Monday before the holiday, I didn’t eat solid food for over a week. Hospital food was not appealing- I felt bad turning down the food staff each day- but Layla brought in Panera.

 

Over time, all the tubes were removed, the most uncomfortable was the tube in my side. As the Nurse Practitioner reminded me after it was out: “Some people pass out when I remove these.” Do I get a gold star for the day?

 

Back home

 

I was released one week after surgery. Putting on clothes felt strange, and I was still weak when I got home. My dog was happy to see me- but isn’t that always the case? Layla had the unpleasant job of cleaning and repacking my wound for about 3 weeks, and I wore a binder around my waist to help with healing.

 

I had a number of “what if things hadn’t gone well” moments, but tried to ignore them. Shortly after getting home, George Harrison’s “My Sweet Lord” came up on my Spotify playlist. Cried alittle. It’s no coincidence that the album title is “All Things Must Pass”.

 

I had weekly office visits with my Surgeon. Six weeks after surgery, he shook my hand and told me that no further visits were necessary. I thanked him for saving my life.

 

What I learned

 

I was leaving church and walked by a light switch with a label above the switch. I thought the label read “after life”, but it said “alter light”.

 

So, since I’m not in the after life yet, what have I learned?

 

You can find joy and humor in any situation (at least I tried)Prayer and yoga breathing can make a difference with you’re under stressBe kind to the people you encounter in a hospital- it makes their difficult jobs easierLife is precious, hug your loved ones, be present

 

As my favorite prayer says: “I ask for all things that I might enjoy life. I was given life that I might enjoy all things.”

 

Good luck

The post How I Lost 15 Pounds Over Thanksgiving (A Personal Journey) appeared first on Accounting Accidentally.

Managing The Challenging Aspects Of A Construction Business

 

Deadlines, demands, and danger are all common forces on a construction site. The client will have strict preferences, and you will have to meet their expectations in a range of different areas. This can make the life of someone working in this industry a very stressful one, especially if you own or manage your own company.

 

To help you out, this post will be exploring some of the aspects of this field that can cause anxiety, along with some solutions which will make it easier to move in the right direction.

 

Following The Law

 

When you’ve spent your life working with bricks, wood, and metal, the idea of sitting down with a pile of law books can be a depressing prospect. It’s unlikely that you’ll have had the chance to learn about this field before, and this makes it incredibly difficult to understand the rules which you have to follow.

 

Thankfully, you can put someone else to this task, saving yourself a huge amount of time and effort in the process. To find a legal professional, you’ll need to do some research online. This can be as simple as looking for the best people in your area, and most people will be able to do this over a couple of days.

 

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Keeping Your Team Happy

 

Having people work for you is an exciting prospect, but it can also come with a lot of dread. You will be responsible for these people, providing them with work and a safe environment to do it in. If you fail to meet the requirements which are in place, you could find yourself struggling to keep your business moving forwards, with your team getting frustrated if they are treated badly.

 

Unions and government entities can be used as tools to make sure that your employees are always happy. Sometimes, the way people feel will be more important than your company.

 

Managing Your Money

 

Building work is never cheap, and it usually takes a long time to complete. This makes working in this industry risky for some, especially when they don’t charge for a job until it is done, as you may not get paid for the time, effort, and investment you’ve made.

 

Overcoming this is possible, with a contract being the very best way to keep your clients in order. Of course, you also need to make sure that you are dealing with taxes and other financial commitments. Property tax services can be great for construction companies, giving you the chance to enjoy confidence and assurance in your finances. Consult with a qualified tax expert on these issues.

 

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With all of this in mind, you should be feeling ready to take on the challenge of taking the stress out of the field of construction. A lot of people struggle when they enter fields like this, finding it hard to know what they need to do to escape the pressure. Of course, though, it doesn’t have to be this way, as long as you’re willing to put some effort into it.

 

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

 

 

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Was Your Loan Denied? Here Are Options of The Things You Can Do

In cases where you’ve applied for a loan recently, and your application did not go through, you may start feeling insulted. It would help if you did not consider this as something personal because there may be reasons why it got denied.

 

To improve your chances of getting the loan next time, you can start by understanding the reasons as to why you were denied and then look for the right changes that will help you increase your odds of being approved.

 

Build Your Credit

 

You may have been denied a loan because of your financial issues, which you may not be able to fix overnight. If this is your case, you can opt for some deeper changes for your financial profile over some time, which will give you an easier time to borrow. The moment you build credit, you will find an easier time borrowing in the future, especially when you have a strong credit history.

 

 

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That will mean you will have to borrow your loans and pay them on time. In that case, your credit will start improving gradually, and there is a likelihood you will get better interest rates and fewer rejections.

 

Find a Crowd

 

You need to be aware that you may not finance all projects yourself. For instance, some of your emergency expenses and the medical bills can find their way to some of the crowded platforms that may fund you, as most people tend to ask for support that helps them cover some of their kid’s bills.

 

Besides, you can opt for crowdfunding campaigns that may touch some medical bills and emergencies and register a record for this of the money raised on some large fundraising platforms. In this case, you can learn how the generosity of people can come in handy to save you.

Fix Your Credit Report

 

After you’ve been able to identify the reason why you were denied a loan, you can start reviewing your credit report. Because of the pandemic, you can request a free copy of your report as this can get done from all of the credit bureaus, for instance, the TransUnion, as you can only consider receiving a free report yearly.

 

Also, in case you have some negative remarks, for example, late delinquent accounts, there are possibilities that it can have harmed your loan eligibility. As you take your time to look over the crest report, you need to confirm that each account listing that belongs to you is appropriate and accurate.

 

In this case, you have the right to dispute some inaccurate information that may be shown on your credit report with the other credit bureaus. You can also consider doing it yourself despite paying for a credit repair company to help you dispute some negative items. There is no charge for disputing some incomplete and inaccurate information in this case. You can look at the Federal Trade Commission since it can help provide the distribution error sample letter for your credit.

 

 

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Consider Other Alternatives

 

Most banks tend to have various guidelines and criteria regarding lending. If one bank refuses to lend you, you can opt for a different bank. You can try your bank and branch before you start looking elsewhere, but if one bank cannot work out, you can consider a different one.

 

Consider Pay Downing Your Debt

 

It doesn’t matter if you have a strong credit score because the lender also looks to see the amount you owe for the credit card bills, student loans, and even the car payments and starts comparing them to the amount you make. It can be considered your debt-to-income ratio as it may play a big role since the lender can start determining if you have eligibility to be given a new loan.

 

For instance, in cases where your wages get spent on the existing high monthly bills, there is a possibility that the lenders may not be confident that you will make your monthly mortgage payment in a good way.

 

Avoid Loan Purpose Mismatch

 

Some personal loans can give you some flexibility regarding the use of funds. Some lenders, however, may not allow you to use them for things like secondary education or for making some investments like stocks. In that case, ensure that the loan applications can match your purpose. For instance, if you need some professional certification or training funds, you can start by looking at the federal student loan, which can be appropriate.

Look For a Person That Can Co Sign Your Loan

Not every option you may be having can be a smart option. If you are a young adult with a good job and not many credits history, you can ask some of your parents to cosign a loan, which cannot be a bad idea. There is a time when you decide to cosign a loan; it may not be considered a bad plan.

Keep Accounts Open

When you start paying your debt down, you can avoid the accounts. It can start hurting your score because you may need different open accounts, particularly those that opened long ago and to show your credit history. In this case, you can consider a mix of credit cards, student loans, and auto loans as they can show you’re able to handle credit.

 

While paying down debt can hurt your credit score, it can start closing your account completely by eliminating the available credit. Also, if you consider crossing an account despite spending the same amount on different credit cards, you will be using a bigger percentage of your remaining available credit. That’s where credit utilization comes in, and in case you start using too much of your credit, then the future creditors can start getting hesitant in extending the loans and the other credits.

 

In sum, if your loan application gets denied, you should not give up. Consider taking some of the above actions since they can help improve your finances before applying again. Some of them may not need much effort, like clearing up the negative items on your credit reports. The others include building a thin credit file which may require some patience. The above approaches can make you a better candidate as they can help you increase the odds of getting approved in the future.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

 

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10 Ways To Effectively Run Your Business in 2022

How can you make your business successful in 2022? With the world changing rapidly, it isn’t easy to know what to expect. This is the future! To help you get started, here is a list of ten ways to successfully run your business in 2022:

 

Hire An Expert Data Scientist

The value of big data has skyrocketed over the past few years, and will continue to grow exponentially in the coming years. Data scientists are essential for mining this gold mine for insights that can be used to create new products or solve problems within your company.

Get Digital With It

Digital marketing is an integral part of running a successful business today. Social media like Facebook and Instagram provide affordable advertising opportunities that allow you to reach millions of potential customers at a low cost.

 

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Implement New Systems In Your Business

Recurring payments are becoming more and more popular with consumers. You can make the most of recurring payments by implementing this system in your company. By doing so, you will increase efficiency and cut down on costly and time consuming follow-up administrative tasks.

Optimize Your Supply Chain

The global economy is becoming increasingly complex, and companies are searching for ways to optimize their supply chains. This can be done by utilizing technology and building relationships with suppliers who share the same values as your company.

Utilize New Technologies

Many new technological advancements can help your business stay competitive. Utilizing technology allows you to do more with less, which is crucial for small businesses on a tight budget. Additionally, technology can help you automate tasks, saving you time and money.

 

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Automate Your Marketing Efforts

Automated marketing is a great way to save time and money while still achieving desired results. Automated email marketing, for example, allows you to send out high-quality content regularly without having to spend hours creating the content yourself.

Work With A Constructive Plan

Having a plan is essential for any business. You can stay focused and make better decisions when you have a plan. A good business plan should be tailored to your specific company and include achievable goals to help you reach your targets.

Innovate

Innovation is vital for any business. It’s what helps you stay ahead of the competition and keeps your business fresh. To be an innovative company, you don’t need to have the latest and greatest technology; all you need is a creative team to brainstorm new ideas constantly.

Keep Your Customers Happy 

An essential part of business growth is to keep your customers happy. This means providing excellent customer service and offering products and services that meet their needs. Satisfied customers are more likely to return, which means more profits for your company!

Experiment With Different Business Models 

Lastly, have multiple streams of income. Diversifying your revenue stream will help protect against market fluctuations and give you more freedom on what products or services to offer.

In conclusion, these are just a few of the ways that you can successfully run your business in 2022. If you want to succeed, it’s crucial to stay ahead of the curve and utilize new technologies and strategies. The world is changing rapidly, so don’t be afraid to adjust your goals and plans to keep up!

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

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Learn The Best Ways To Escape From Crippling Debt

Are you struggling with crippling levels of debt? You might think that there’s no escape from this, but that’s not the case. Here are some of the best options that will be available to you.

 

Speak To Your Creditors

 

The first thing you need to be aware of is that your creditors aren’t big scary monsters, well not all of them! If you have fallen on hard times, give them a call or send them an email letting them know. They are also human beings so will understand and can help you overcome your financial difficulty and get things back on track.

 

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They have the power to freeze your payment plan so you can catch up without this negatively impacting your credit score. They can also wipe away some of your debt to ensure that things are far easier to manage overall.

 

Your options will differ depending on which creditor you owe money to. However, this is always going to be an option worth exploring. Particularly if you have reached a tricky situation where you are struggling to cover all your bills. If your creditors don’t play ball here, then there are also more options that could be worth exploring. You just need to understand which paths out of debt are available for you.

Explore All The Options

 

You should explore all the different options that are available to you when you try to escape crippling levels of debt. For instance, you might want to think about exploring a debt consolidation loan.

 

A debt consolidation loan will bundle all your debts together and this in turn can make them far easier to manage. It also has an impact on your mindset. You will feel as though the debts are far easier to handle.

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Use Your Assets

 

Next, you should think about using your assets the right way. For instance, you might have things like property and items that are worth a lot of money. If so, then you should consider liquidating these to gain access to the money that you need. You might think that you can complete this process yourself. However, doing so could significantly limit the profits that might be available to you.

 

Instead, you should think about using an estate liquidator. An expert service like this will ensure that you do get the greatest impact from the liquidation process and don’t miss out on tremendous opportunities here.

Grow Your Income

 

Finally, if you are finding it tricky to pay your bills on time then you might want to look into adding additional income to help with this. You could explore the option of another job or a side hustle.

 

Experts agree that everyone, regardless of their primary income, should consider setting up a second job or another way to make money. There are lots of options available to you here. For instance, you might want to think about setting up a blog. With the right steps you can monetize a blog in just a few short months and then continue to grow it from that point.

 

Consult with a CPA and a financial advisor regarding personal finance issues.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

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5 Unmissable Credit Card Tips

Managing your credit card use effectively is imperative! Here are five tips to give you a helping hand:

 

Set up mobile alerts

 

Have you missed payments in the past? This is one of the worst things you can do, as missed payments stay on your credit report for as long as six years, meaning they have an extremely detrimental impact on your rating.

 

To stop yourself from missing payments, it is a good idea to set up mobile alerts. This is something that many large card issuers do, enabling you to benefit from an alert for a variety of activity. For example, you can receive an alert whenever your card has been used, if unusual activity has been detected, and when you are approaching your credit limit.

 

Of course, you can also set an alert for when your statement is ready and your bill is due. If your card provider does not do this for you, you can always set up manual alerts on your smartphone using the calendar or alarm app.

 

Check your credit report regularly

 

In order to manage your credit report, you are going to need to check it on a regular basis. After all, your score can impact everything from your ability to get a mortgage or be accepted for one of the available apartments for rent. This is important so that you can monitor whether your score goes up or down, and what you can do to improve it.

 

It is also a good idea to check your credit card statement on a regular basis too. This will ensure that you pick up on any signs of fraud quickly.

 

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Avoid overseas’ fees

If you are planning on taking a vacation in 2022, you need to be mindful about using your credit card abroad. For most credit cards, and debit cards for that matter, you will be subject to a foreign loading fee. Charges vary considerably, so make sure you are fully aware of the terms and conditions of your credit agreement before you use your card overseas.

 

Set up a direct debit

 

Another way to make a payment on time, aside from setting up mobile alerts, is to set up a direct debit. This is a lot easier than most people imagine – you can usually set it up over the phone or online. You can also usually pick the date of the month you wish the direct debit to be deducted, ensuring you pick the most convenient date for you. You can also determine whether to pay the minimum amount or the full amount on your card.

 

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Don’t apply for a card if there is not chance for approval

 

Last but not least, make sure you don’t apply for cards simply for the sake of it. A lot of people apply for cards on the off chance that they will be accepted because of the amazing promotional offer or low-interest rate associated with the card. However, if you are rejected, this will show on your credit report, which will have a negative impact on your score.

 

This is why it is a good idea to use one of the eligibility checkers to see if you have a good chance of being accepted. Soft searches like this will not show on your report.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

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Money Mistakes You Need To Stop Making In 2022

Whether we like it or not, money matters! Our finances can dictate a large part of our lives. It’s important to get to grips with your finances and have a good understanding of money management. Money mistakes are very, very easy to make. Below, we take a look at some of the worst monetary mistakes anyone can make, so that you can take the steps to avoid making them.

 

Overspending – There is only one place to begin, and this with overspending! This is one of the biggest mistakes that most people make when it comes to money. It is very easy to live beyond your means. After all, you spend the money you have available to you at that moment, and you neglect to consider the future. This is a very easy trap to fall into. So, how can you determine whether you are overspending? It’s very easy! You simply need to discover whether your outflow exceeds your income. The first step to accumulating wealth is spending less than you make. If you overspend, you are doing the worst possible damage to your monetary situation.

 

Buying a home without calculating the true cost – When buying your first home, it is so important to budget correctly. You need to consider all of the costs you are going to be subject to, rather than simply considering the cost of the loan and the deposit. You are also going to have stamp duty to pay, as well as legal fees and maintenance costs. One of the worst things you can do is leave yourself short. There is no harm in buying a property a year later to ensure you have all of the costs covered.

 

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Taking out a loan that you cannot afford to repay – There is no harm in taking out a loan via the likes of Cash Train, so long as you pay it back on time. If you are in desperate need for some extra cash, it can be very tempting to take out a loan without any consideration for the repayment terms. You simply tell yourself you will get the money needed to pay it back, especially if the lender has offered you a holiday period, i.e. a few months before you need to start paying the loan back. However, when the repayment period comes about, they can’t afford to make the payments. This will put you in an even worse position than you were to begin with. Every missed payment features on your credit report for six months. Lenders will not want to lend you any money if they see that you have not paid back another lender. This bad reputation is something you will carry with you for many years, so make sure you never take out a loan unless you can guarantee that you can make the repayments.

 

Waiting too long to start saving for your retirement – A lot of people do not save for their retirement until it is too late. This is understandable. After all, it can be very difficult to comprehend saving for 40 years or so into the future when you have more pressing financial concerns right now. Nonetheless, the sooner you start saving, the easier it will be. Putting away small amounts every year from your 20’s can set you up perfectly for your retirement.

 

Living paycheck to paycheck – Of course, living paycheck to paycheck is not a choice for some people. But, research shows that a lot of households do not save as much as they should. It is important to have an emergency fund in place should an unexpected expense come about. And, let’s face it, there are going to be some unexpected costs that will come about throughout your lifetime. Plus, you never know what is going to happen to the economy! A lot of people lost their job during the worldwide recession, and so it is important to be prepared. Save some money whenever you can.

 

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Living on borrowed money – It has become somewhat of the norm to live on borrowed money. A lot of people buy essentials with their credit cards. Avoid doing this. You are going to end up paying way more for everyday items because of interest.

 

Waiting to invest – There are three factors that will determine how well your savings and investments perform. This includes the return rate on your investments, the amount you have invested, and the length of time they are invested. Quite simply, the sooner you invest, the more you can expect to make.

 

Not having a will – Having a will is critical, especially if you have minor children. Do you really want the government to decide what to do with your kids?

 

Not understanding the importance of your credit report – If you do not know much about your credit score now is a good time to start learning. The last thing you want to do is cause long-term damage to your credit score because you were doing something bad without realizing it. For example, did you know that the amount of credit applications you make could have an impact on your score? Get to grips with what does and does not impact your overall rating so that you can make the effort to boost your score.

 

Not having a budget – Last but not least, no matter how much money you make, it is so important to have a budget. If you want to gain control of your money, you need to know exactly where it is, and how you are going to spend it. Your budget needs to work for you. There are many different budget plans online that you can follow. One of the easiest budgets to follow is the 50/20/30 rule. This means that you attribute 30 percent to lifestyle choices, 20 percent to financial priorities, and 50 percent to essential expenses.

 

So there you have it: some of the money mistakes you need to avoid making in 2022. Consult with a CPA and a financial advisor regarding personal finance issues.

 

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

 

 

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Three Tips for Financially Planning Your Move Abroad

If you’re planning to move abroad, or even across the country, then you already know that it’s going to get expensive. One of the most important aspects that must be constantly evaluated is personal finances.

You have to have a financial plan if you’re wanting to move anywhere or else you’re going to risk a lot of financial hardships and have stress overall. Moving is expensive, whether you’re buying a house, moving into some apartments, or whatever.

People who move can count on spending more than anticipated. It’s always important to formulate a plan when moving, but this should especially be formulated when moving out of the country (regardless of the country you’re moving out of). So these are some helpful tips for coming up with a solid financial plan before you begin your ex-pat journey.

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Begin by getting enough savings

This may be obvious, but it’s still better to have it repeated. If you’re truly serious about moving abroad, then you’re going to have to have a good amount of savings. This should cover things such as transportation, moving, insurance, emergency costs, security deposits, needed items when arriving at your new home, and housing costs as well.

Some other things that may be included could be registration fees, documentation or application fees for visas, and possibly even immigration lawyer service fees. Plus, you’re going to have to think about other things such as food, bills, and possible things you’re going to need in your host country such as new clothes.

There is a lot that needs to be kept in mind, and none of it should be neglected whatsoever. So it’s best to try to begin saving up as soon as possible. Even if you have the idea or hope of moving to another country, then you’re better off just going ahead and saving up now. Moving abroad isn’t the same as moving across the country. It’s far more expensive, bureaucratic, and the process itself takes much longer too.

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Look into the cost of living in your host country

You’ll want to try to do as much research as you can far in advance. This is going to include getting a general idea of what the housing cost is such as buying a house or even renting a space. You’ll also want to get an idea of what the weekly price of food is, especially to fit your lifestyle.

You also shouldn’t neglect the average amount of utilities, and how much those can cost per month as well. Other costs can include looking into transportation costs such as how much public transport is, how much a car costs, cost of oil, parking cost, and even car insurance.

Overall, you’ll need to try and get a general idea of how much it’s going to cost before moving there. You can look around such as ex-pat blogs, using a cost of living calculator, asking around, or even watching YouTube videos to get an idea of the general cost.

Create a budget

Once you have an idea of how much it will cost to make the move and how much the cost of living will be, you should then begin formulating a plan and start by budgeting.  Think about how you’re going to make the money, and maybe even give yourself a time limit as well.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

 

 

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4 Tips to Financial Recovery After Paying Unexpected Expenses

Personal finances are something that many people struggle with. It’s not always easy to know how much money you can spend when you should save and if your budget is set upright. One of the most difficult challenges for any family or individual is when they unexpectedly have to pay an expense that puts them in a tight financial situation.

 

The good news is that there are ways to get back on track. This post will talk about four tips for recovering financially after paying unexpected expenses, so you don’t find yourself stressing over your next paycheck.

 

1 Budget Effectively

The best way to recover financially after an unexpected expense is to start budgeting effectively. This means creating a budget that realistically reflects your spending habits and income and then sticking to it. It may take some time to get used to living within your budget, but it will be worth it in the long run.

When you can stick to a budget, it makes managing your money much easier and leaves less room for surprises down the road. If you need help getting started with budgeting, plenty of resources are available online or through your local bank or credit union. And don’t forget: if something comes up and you need to adjust your budget, that’s okay.

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2 Learn to Save Money

Another great way to recover financially after an unexpected expense is to start saving money in your emergency fund. An emergency fund is a savings account specifically for rainy day situations, so it’s perfect for those times when you need some extra cash fast.

The best way to build up your emergency fund is to set aside a certain amount of money each month and ensure that you don’t touch this money unless there is an emergency. If you can do this, you will be well on your way to recovering from any surprise expenses that come your way.

 

3 Get a personal line of credit

If you are struggling to recover financially after an unexpected expense, one option is to get a personal line of credit. A personal line of credit is a loan that you can access when you need it, and it can be a great way to cover emergency expenses without having to dip into your savings account.

Personal lines of credit typically have lower interest rates than other types of loans, so it’s a good option if you need some extra money fast. Just make sure that you carefully read the terms and conditions before signing up for a personal line of credit, so you know what you’re getting yourself into.

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4 Reduce unnecessary expenses

Finally, another good way to recover financially after an unexpected expense is to reduce unnecessary costs. This means cutting back on certain things you are spending money on in your daily life. For example, if you have a monthly gym membership but can’t afford it anymore due to the new expense, cancel your membership and find some free or low-cost ways of exercising at home instead.

Likewise, if any other types of costs aren’t necessary for survival (like cable TV), take this opportunity to cut them out too until you get yourself back into a healthy financial situation.

There are many different ways to recover financially after an unexpected expense. Just remember to be patient and take things one step at a time. With some hard work and dedication, you will be able to get your finances back on track in no time.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

 

 

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