Kenneth Boyd's Blog, page 32

Why Cryptocurrency Is Once Again Making Headlines

Cryptocurrency always seems to rear its head now and then. In 2017, we saw the meteoric rise of Bitcoin’s value, breaking five digits for the very first time and setting new records for cryptocurrencies. Today, Bitcoin is still the top dog and is set to continue growing as more and more attention is brought to it.

 

But what causes Bitcoin and other cryptocurrencies to keep rising and falling like this? Is there a pattern? Is it being manipulated? Or is it just a representation of how the public views cryptocurrencies?

 

This form of investing is risky, and you should consult with a financial advisor.

 

Cryptocurrencies presents unique opportunities

 

One of the big draws to cryptocurrency is that it offers a lot of unique opportunities to people, even if they don’t actively trade crypto. For example, there are services like Coin Trade Ledger that help people with tax-related issues related to cryptocurrencies. In addition, you’ll find that there are also financial advisors that specialize in cryptocurrencies.

 

This is one of the big reasons why cryptocurrencies are once again seeing a lot of attention in the media. As more and more people learn about cryptocurrencies, there’s going to be a huge demand for tutorials on using different exchanges, there will be videos commenting on the state of cryptocurrencies such as Bitcoin, and there consultants that have knowledge specific to cryptocurrencies.

 

As you can see, there are lots of unique opportunities to start a business or create new technologies that revolve around the use or management of cryptocurrencies. It’s a growing industry that will see more and more growth as time goes on.

 

Cryptocurrencies are getting easier to “use”

 

One of the big problems with cryptocurrency in the past was that it was difficult to “use”. For example, if you owned Bitcoin, there would only be a few places that actually took it as a payment option. This means that you’re very unlikely to actually use Bitcoin and the only use for it was to trade and then eventually sell it. This was fine for many people, but others didn’t see the practical use in cryptocurrency and ignored it.

 

These days, cryptocurrencies are much easier to “use”. For example, you can find Bitcoin ATM devices across the world that let you withdraw money in exchange for Bitcoins. You can also use Bitcoin with many different payment processors. There are many online retailers that now accept Bitcoin, and you get a lot of advantages when choosing to pay using cryptocurrencies as well. This includes being able to anonymize your purchases and avoiding lots of international payment fees.

 

Since cryptocurrencies are seeing a lot more practical use these days, it’s understandable that we’re seeing them become more and more popular as time goes by. While most people are still going to think of them as a commodity to buy and sell, it’s important that we at least have the option to use Bitcoin directly instead of just trading it for money to be spent. This enables us to take advantage of many of the benefits of Bitcoin that were touted back when it was introduced to the world, instead of just seeing it as something to trade.

 

Trading Cryptocurrency is easier

 

In the past, you had to learn about cryptocurrency and understand concepts such as wallets and trading platforms to really understand how to buy and sell them. These days, you can simply download and app on your phone and start trading cryptocurrencies immediately. It’s so much easier than before, you don’t need complicated technologies to get started, and you can start with a very low investment.

 

There are also lots of unique cryptocurrencies available to trade. While most people think about Bitcoin as the major digital currency, there are also options such as Ethereum, Ripple XRP, Litecoin, and even Dogecoin. These are all unique cryptocurrencies that have technical differences, but they all have the potential to grow as Bitcoin has. As such, it’s created lots of exciting investment opportunities for everyone, and it’s all accessible on something as simple as a smartphone application.

 

Recent technological innovations have made it easy for anyone to invest in cryptocurrency. This has definitely equalized the playing field and made it much more accessible for average people to start learning about cryptocurrency investments. This renewed interest has helped a lot of people realize that anyone can learn about cryptocurrencies.

 

As you can see, cryptocurrencies are gaining in popularity and making headlines once again for a good reason. It’s definitely worth checking out once again, so consult with a financial advisor.

 

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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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Fun Investments That Address Your Hobbies and Passions

We all know that investing your money is a sensible way to grow your savings and provide for your future. But doesn’t it sound boring? Most people think of investing as investing in the stock market, but there are actually a lot of ways you can invest your money, including some unusual investments ideas!

 

Always consult with a financial advisor on these issues.

 

After what has been a terrible 2020 for many people, you deserve a bit of fun. Take a look at some of these fun investments that could bring you a lot of joy, while still helping you fund for your future.

 

Considering art

Investing in art is nothing new, many people spend their lives building up their fine art collections, investing in pieces which will continue to grow in value over time. Make no mistake, investing in art is a long-term investment, but it can be very rewarding to admire beautiful artwork in your home. Do your research and speak to experts to help you learn more about art investments.

A place in the sun

One of the most popular types of investments is in property. Property is generally a long-term investment, and whether you invest in your own home or multiple properties, it can be a good way to invest.

 

But if you want to get some fun out of property investments, why not invest in a place in the sun? A property in Nassau Bahamas could help you grow your portfolio, while also giving you a place to enjoy some wonderful vacations with your family and friends. With your own private oasis to escape to, your investment will bring you a lot of happiness.

A sports team

Some people are dedicated to their favorite sports team for their entire lives. As a never-ending love affair, you could celebrate that love by investing in your team!

 

Investing in a sports team might seem like something that only happens in movies, but the truth is, it’s easier than you think. There are different ways of investing in sports teams depending on the team, so do some research to find the best entry route and get to own a part of your favorite team.

Your passion for wine

Investing in wine is another fun investment that will bring you a lot of joy. You could invest your money in a producer or a vineyard, or you can collect fine, vintage wines that will grow in value as the wine continues to age. Even if you don’t intend to sell your collection later on, you could get a lot of enjoyment from sampling some truly amazing wines.

 

Finding the right investments can bring you a number of benefits to your finances. From helping you become financially independent to funding your retirement, if you invest smartly, you’ll have assets you can make the most of in the future. But if you want to get some enjoyment out of your investments now, take a look at some of the more unusual investments that are out there and have a little fun.

Go to Accounting Accidentally for 300+ blog posts and 450+ You Tube videos on accounting and personal finance:

 

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 to Become an Ethical Business

Apart from the quality of your products and services and your marketing strategy, one of your business aspects that will help it stand out is the ethics it operates itself on. A business can be providing consumers with quality products, but a news outlet releasing articles on their unethical practices can damage its reputation-most of the time permanently.

 

As you and your business swim through a sea full of competitors willing to subject their businesses to anything that will help them reach the top, it’s difficult not to succumb to the quick ways to success. But as a proper entrepreneur, you want your business to succeed but not in ways that can easily destroy everything you’ve worked all your life for.

 

In the competitive world of businesses, how can you make sure yours remain operating- while following ethical standards? Here’s how you can maintain your business ethics:

Be a business worth trusting

 

To consumers and investors alike, a trustworthy business is a business that is reliable when it comes to producing quality service and care for their consumers.

 

From the investor’s point of view, being a trustworthy business is at the company’s core. If you encounter experienced investors, you should be aware that they can sense a business’ trustworthiness through its management.

Most of the time, you’ll be in management. So, you’d want to be at your best self while you meet potential and current investors.

 

On the other hand, a trustworthy business is a business they rely on to be there for them to meet their needs to consumers. Meeting consumer needs go beyond selling the right products. You should also be able to address issues that arise in a professional and timely manner.

Open your mind to improvement

 

Even if you’re at the top of your game and doing better than all of your competitors based on analysis, you should still be open to ideas of improving your business operations further. It will help you accommodate your changing consumer base, and it will let your business age well.

 

Be open to ideas from your employees, investors, and consumers. They’re the ones who see your business from a different angle, and their opinions are worth listening to.

 

Opening a platform for your consumers to send feedback can also greatly aid your company’s growth. You would be receiving feedback directly from consumers and their experience with your service. This gives you the chance to directly tackle your business issues that are making your consumers happy or unhappy.

Meet your business obligations

 

Along with the money that you rake in as your business grows, you should also be aware that the responsibility you have towards yourself, your employees, the government, and your consumers remain. They may even grow bigger as your business grows.

 

The last thing you want is to get your business dragged into a lawsuit because you failed to meet your obligations as a business entity and an owner. A key to staying on top of your obligations as a business is to keep the right team of people to manage taxes, customer service, employee contracts, and many others.

Be clear about what you produce and promote

Granted, marketing campaigns are made to entice customers. That shouldn’t be a reason for you to pursue unethical ways of releasing marketing content. While you work on marketing strategies with your team, keep in mind that there are sensitivities you should be careful of.

 

An example of this is when you’re a company providing cadaver bags. Chances are, you’re doing well because of the pandemic, but you shouldn’t operate wishing ill on people in hopes that your business continues with its growth.

As much as the pandemic’s morbidity has benefited your business, you should still be operating with your morals and ethics intact.

 

Be respectful

 

In the world of business and outside of it, being respectful goes a long way. They say it’s something that people earn, but the truth is, you should be giving it to everyone around you. That includes your competitors.

 

If you’re doing better than them or vice versa, you shouldn’t resort to throwing jabs at them to make them look bad. Doing this makes your business’ brand appear disrespectful to consumers and other businesses.

 

The way you interact with your competitors will say a lot about your business. That’s why it’s essential to be as cautious as you can or limit interactions to prevent inflicting damage on both sides.

 

Find subscriber-only accounting and personal finance video and blog content on my Patreon page. Get your questions answered to pass the CPA exam, and to learn accounting concepts.

 

Go to Accounting Accidentally for 300+ blog posts and 450+ You Tube videos on accounting and finance:

 

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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Tips To Be More Organized

Organization is one of the most key skills you can have in both your work and personal life. If you are not organized you can find that you miss out on appointments, lose valuable documents or waste time searching for things that you have misplaced.

 

Being disorganized can waste a lot of your valuable time and end up being a nightmare for you and anyone else that it affects both at home or at your business. This is why it is so important to develop healthy habits that can make your life much more organized. If you want to turn your life around but aren’t quite sure where to start, have no fear. We have put together some top tips here that are sure to help.

 

Ensure that everything has its place

 

One main reason that your work or personal life can get disorganized is if you don’t have a place for everything. If you are working off of the same desk that you eat your lunch off and you just push your papers to the side or on a random shelf before the end of the day, things will easily get misplaced. Instead, get folders and files and make sure that everything you have out also has a dedicated spot to be put away.

 

You will be able to quickly find your items and are much less likely to lose or misplace anything. You also won’t find you accidentally drop something when trying to move everything or trip over items that are in the way. If you do get injured through something like objects being placed in the way in the office and it’s not your fault, consider getting in touch with personal injury lawyers. 

 

Make schedules and deadlines

 

Work can get really busy and if you have a number of projects on the go at once, it is easy to get overwhelmed if you aren’t organized. Instead, list out all the different projects that you have and assign deadlines to all of them. Ensure you let the clients know when these deadlines are and ensure that they are realistic.

 

Remember it is always better to underpromise and overdeliver, rather than promising a really quick deadline and not getting it to them when they are expecting it. Ensure that you time how long each project will take, giving yourself time for any amendments or delays.

 

It is a good idea to use a service such as Asana or Monday which are online calendar and task assigning tools that can help you to keep track of what you need to be doing and when. You can mark off your tasks when they are completed and see exactly where you are at in an easy way, at all times.

 

Don’t be afraid to de-clutter

 

It can be easy to let clutter build up and soon you can almost turn blind to it. Instead, set some time to have a total de-clutter, getting rid of anything that you don’t need. While you might feel sentimental to certain things, think about if it actually adds value to your life and if you ever actually use it.

 

If the answer is no and it really just makes your space much more messy, then it is a good idea to tidy it up or put it into storage. If you find after six months you haven’t thought about, missed or wanted the item, it is probably time for you to get rid of it. You will find that once your physical space is less cluttered, your mind will be too and it will be a lot easier to be organized and focus on your tasks at hand.

 

Try not to impulse buy

 

Impulse buying is easy, but try not to do it if you can avoid it. Instead, think about if you actually need the item and what it will bring to your life. Ordering lots of new items can soon fill your home with unnecessary clutter and you could bring it home only to find it doesn’t fit anywhere or go with your decor. It is better to go out with a purpose to buy something and stick to just that, than buying something on a whim.

 

These are just a few tips that should help you to become more organized both in your work and personal life. No matter if you feel you are the most disorganized person to ever walk the planet or you want some tips on how to get better, these are sure to assist you in your journey of improvement. Which is your favorite in the list? Let us know in the comments below!

 

Find subscriber-only accounting and personal finance video and blog content on my Patreon page. Get your questions answered to pass the CPA exam, and to learn accounting concepts.

 

Go to Accounting Accidentally for 300+ blog posts and 450+ You Tube videos on accounting and finance:

 

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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Time For A Car Upgrade?

Buying a new car requires alot of focus and diligence. Any new car needs a good inspection before purchase; just as you would most things, such as an item of clothing or even a bottle of milk. Nobody wants to buy something that is damaged or compromised.

 

Once you have completed this inspection you can look at other elements. If the inspection of the vehicle revealed defects, it is important to require the leasing company or the seller to correct all the problems. Remember that it’s better to close this issue in advance as part of the negotiations when buying the vehicle. But what vehicle do you want to choose? Perhaps you have been looking at an SUV?

 

Firstly look for a reputable car selling company such as https://carsrelo.com/blog/, where you can find plenty of information. Although most people will recommend you to buy a used SUV to save on expenses, this will not always be the right decision.

 

Used vehicles are likely to require more time in the garage for repairs and replacements. If until today you did not buy new vehicles mainly because of the economic reason, you will be happy to find that there are several ways that will allow you to buy a new SUV without going too crazy, financially speaking. We’re here to tell you that it’s not quite as complicated as you might think.

 

One option: find an SUV within your budget

There are different types of SUVs, countless models and lots of manufacturing companies. Each model has a different price, so in fact your price range is very wide and you can play with your budget until you find the model that both meets your requirements and also comes at an affordable price.

 

If your goal is to find a cheap and well-equipped SUV, first set the overall budget and only then look for models that are within your capabilities. There are lots of vehicles that can provide you with the right answer.

Examine the car company’s financing options

 

Some people prefer to buy a used SUV because of the cheap price, however usually when buying a used car one has to pay the full amount on the spot. On the other hand, when buying an SUV from a car company, there are various financing options available to you.

 

This way you do not have to get the full amount, but you can retire the payment for monthly repayments that you can afford. A new car will serve you faithfully over the years, so all you have to do is think about how many monthly repayments you can make to make the deal worthwhile for you.

 

An SUV can be a great investment and a really sturdy family car that can last a lifetime. So no matter what your decision is, an SUV offers a really incredible solution and one that doesn’t have to break the bank.

 

 

Find subscriber-only accounting and personal finance video and blog content on my Patreon page. Get your questions answered to pass the CPA exam, and to learn accounting concepts.

 

Go to Accounting Accidentally for 300+ blog posts and 450+ You Tube videos on accounting and finance:

 

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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The Smart Way To Deal With Fraud in Your Business

Every employer faces risks in their organization. Fraud is one of the most serious of all. When fraud occurs in small companies, it can be a massive dent in your pride, as well as your ability to do business.

 

In addition, it could do your reputation a disservice. So, when it comes to dealing with an employee that has committed fraud, how do you go about it?

 

Keep in mind that these are serious legal issues that should be discuss with an experienced attorney.

 

Detecting Employee Fraud

 

Before you go and set the alarms and consult a white collar crime lawyer, you’ve got to keep an eye out for red flags. The big problem, when we suspect an employee of fraud, is that the guilty party may have already won over your confidence. This is why it’s important to remain professional throughout the process, and you can start by looking at the cold, hard facts.

 

Some of the red flags include an employee spending more money than their means, guarding their work duties, or even resisting vacations. An employee who seems incredibly enthusiastic, and turns up to the office before you do, and leaves after you, is another red flag.

 

What Do You Do When You Suspect Employee Fraud?

 

It is vital that if you suspect an employee of misappropriation or another type of employee fraud, you’ve got to move quickly. But you have to be careful.

 

The longer you wait, the more an individual can take from you, but also, you have to be careful as there are strict HR procedures to follow. If you do not catch the employee red-handed, you need to take your time in gathering evidence.

 

If you accuse them without any evidence, you may find yourself at the receiving end of a lawsuit. When you have sufficient evidence, meet with the employee alone and lay out your case. Once all the facts are in place, and the employees willing to give up some of them, if you have enough evidence, you can let them go.

 

It is up to you if you want to take legal action at this point. This will depend on the losses. If they are not significant or are covered by insurance, it may not be worth your while.

 

Learning and Moving On

 

There will be lessons everybody has to learn. You may think harder about how best to look after your employees, or if you were too trusting. The important thing in a professional sense is that you’ve got to make sure that the lesson reaches the other employees.

 

It’s crucial to remember that some employees may very well have learned the cracks in your armor. This could motivate them to imitate the individual that was let go, which is why you have to make sure that every employee is aware of the repercussions.

 

From your perspective, you may have regretted being too trusting, but this is not fair. Individuals can abuse trust, and this is why the procedures need to be in place. It shouldn’t be something that you regret or stops you from hiring someone in the future, but it’s about making sure that your business is able to deal with it.

 

 

Find great subscriber-only accounting video and blog content on my Patreon page. Get your questions answered to pass the CPA exam, and to learn accounting concepts.

 

Go to Accounting Accidentally for 300+ blog posts and 450+ You Tube videos on accounting and finance:

 

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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What You Need To Know About Cryptocurrency

 

If you’re looking for something to invest in, you might be thinking of cryptocurrencies. And why not? After all, they’re very popular at the moment, and the stories of how people became millionaires literally overnight by buying bitcoin, for example, at exactly the right time, are legendary (and true, which is what makes them all the more exciting).

Cryptocurrencies and bitcoin investing may expose investors to a large amount of risk. Consult with a financial professional before you invest.

Yet even though digital currencies are popular and they’ve become part of pop culture, that doesn’t mean you can just leap in and buy some and hope for the best. As you would with any kind of investment, it’s crucial to find out as much about the investment as you can before you commit. Read on for some useful information to get you started.

 

There Are Risks

No investment is without its risks, so no matter how exciting the idea of cryptocurrency might be, it’s wise to seek out as much information as you can about the risks involved before investing. Investments can, of course, go down as well as up, and you’ll need to know what the chances of that happening actually are, so you can decide if it’s a risk worth taking.

 

The truth is that it is considered a high risk to invest in cryptocurrency. This is not a bad thing; it just means that the system is a volatile one, and the literal ups and downs are big when they come – that’s how the millionaires made their money. Unlike some other forms of investment such as forex, for example, which moves pretty slowly, cryptocurrencies move very fast, and you could be on top one moment, and at the bottom the next. As long as you are prepared for this, the gains are potentially huge and many are happy to risk it.

 

There are Different Types Of Cryptocurrency

Despite the fact that it’s easy to assume there is only one type of cryptocurrency, and to use the term interchangeably with bitcoin, the fact is that bitcoin is just one version of a similar idea, and there are many more.

 

One in particular that is gaining more traction is Diem, which is Facebook’s answer to the digital currency revolution. This cryptocurrency is linked to a physical currency (currently the US dollar), which makes it rather unique, and you can find out more by checking out www.diemanswers.com.

 

How is the Investment Stored?

Cash is kept in a wallet or a vault at the bank. Your own finances are stored in a bank account. But where is cryptocurrency stored and how can you access it?

 

Cryptocurrency is a digital-only currency, meaning there is no physical version of it, so you can’t withdraw it and keep it under the mattress. Because of this, cryptocurrency needs to be kept in a digital wallet, and this is used not just to store the currency, but to send it and receive it as well.

Although you might worry that these digital mallets are somewhat unsecure as they could be hacked into, they use very complicated encryptions and may be safer than many standard bank accounts, which is one of the reasons people like cryptocurrencies in the first place.

 

 

Find great subscriber-only accounting video and blog content on my Patreon page. Get your questions answered to pass the CPA exam, and to learn accounting concepts.

 

Go to Accounting Accidentally for 300+ blog posts and 450+ You Tube videos on accounting and finance:

 

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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Finding The Best Way To Dig Yourself Out Of A Financial Rut

 

Managing your finances can often be one of the hardest parts of life. Money feels like a massive puzzle to many people, creating challenges that can feel impossible to overcome without the right help and support.

 

Of course, there are plenty of methods out there that can help you to improve your financial situation. Whether you’re drowning in debt, or looking to make savings, the approach you take to this can make or break your chances of success, but this post is here to help you out. Let’s take a look at some of the best ways to dig yourself out of a financial rut.

 

Debt Consolidation

 

One of the hardest things to deal with when you have a lot of debt is the number of payments you have to make. Each loan you take will require a different payment, and this can quickly make it impossible to manage your money and keep yourself in a good position.

 

Debt consolidation is the process of moving your loans from a group into one that will be much easier to manage, and there are lenders out there that specialize in this sort of service. Going down this route can be a good way to make your debt more manageable.

 

Debt Management

 

As an alternative to debt consolidation, you could also think about approaching a debt management company. Organizations like this work with clients to make sure that they are paying off debt as quickly as possible, while also helping them to take the right steps to improve their finances in the future.

 

This option is great for those who have struggled with money for a long time, but it may not appeal to people who like to keep this side of their lives private.

 

It’s worth spending plenty of time researching this option before you decide to use it. While there are a lot of companies out there that can provide this service, they won’t all have the same track record.

 

Reviews and testimonials will give you a good idea of their past success, and you should always work to choose the option that will have the best chance of improving your money. Of course, in some places, you can get government support with this, and this will make the whole thing free.

 

Considering Bankruptcy

 

Bankruptcy is a very old legal status that is used when someone has too much debt to pay. There are several different types of bankruptcy, and bankruptcy law can be very different depending on where you are.

 

This process will grant you a stay of proceedings when you first file, making it possible to escape the harassment from your lenders until you’ve had a chance to work through and plan your next move.

You will need to consult with a professional lawyer when you file for bankruptcy.

 

When you first start this process, you will be given a trustee that will work with you to make sure that you are paying back as much money as possible. They will have regular meetings with you to track your progress, and may even take control of some of your finances to make sure that money is going to the right place.

 

Your trustee will have the power to free you from bankruptcy once you’re in a good position, but this will still leave a mark on your record that you won’t be able to hide for as long as a decade.

 

Making More Money

 

Some people’s financial problems don’t stem from too much debt. If you are living paycheck to paycheck, you will understand the stress that can come when you can’t quite make bills or rent. Making more money is the best way to overcome this, as it doesn’t force you to change your lifestyle or compromise on the things you love.

 

There are loads of ways to make money online, with companies popping up all the time that can give you the chance to start improving your income. This route will involve some hard work, but this will be worth it to make more money.

Track Your Spending

 

For other people, the root of financial chaos could be spending. Spending too much each month is an easy way to land you in trouble, especially if you’re doing this at the expense of paying bills.

 

Tracking your spending is a great way to overcome this problem, making it possible to keep a record of everything you spend so that you don’t overdo it when you are out and about. It can be easy to think that a purchase won’t have an impact, but this is too often the wrong call, and a lot of people suffer when they spend impulsively.

 

Ask for Help

 

Money can be a hard thing to talk about, especially when you don’t feel like you’re in control of it. Having some accountability can be a great way to keep you focused on improving your money, though, and talking to someone you love about this can be a great way to achieve this goal.

 

Your partner will always be willing to chat about your money worries, giving you the chance to rely on them to moderate your spending and help to keep you on the right track. Of course, though, you can’t make this into their problem.

 

Your money is very personal, and a lot of people find it hard to know how to manage this side of life correctly. While you may find this hard, there are plenty of tools around the web that can make it easier for you, and you can use the methods in this post to get started.

 

Sometimes, even the biggest financial problems can be solved with a little bit of time and dedication, making it worth giving this everything you can.

 

Find great subscriber-only accounting video and blog content on my Patreon page. Get your questions answered to pass the CPA exam, and to learn accounting concepts.

 

Go to Accounting Accidentally for 300+ blog posts and 450+ You Tube videos on accounting and finance:

 

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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Start Your Own Insurance Company In 4 Steps

If you are looking to start a new business in insurance, you are going to have to find a focus first of all. As long as you have some kind of focus, knowing what you are actually going to do and what kind of service you will provide, you can be sure that you are going to have a much better chance of success in general. In this post, we are going to give you a hand with starting your own insurance company by taking a look at four early steps you need to take in doing so.

 

Before you start, consult with an attorney, tax advisor, and insurance expert regarding industry regulations.

 

Research The Industry

 

If you have never before worked in this line of work, the first thing you need to do is thoroughly research the insurance industry. You need to have a full understanding before you can work out what your niche will be, what kind of service you will offer, how you will market it, and so on.

 

It can be a very challenging industry, but it is also one of the most lucrative, so you can be sure that there is plenty to gain here. But you do need to know as much as possible in the first instance, or else you won’t be able to make the most of it.

 

Write Your Business Plan

As with all businesses, you are going to need to draw up a solid business plan at this stage. A business without a plan rarely succeeds, so you should consider this an absolutely essential part of the process.

 

It is particularly important if you are going to be looking for individuals to fund your venture with you, as those potential stakeholders are going to need to know what you are planning to do, and in particular how you plan to respond to possible problems that might crop up along the way.

 

Know The Risks

 

There are always going to be certain challenges in running any business. The clearer you are on what these are and what you are going to do about them, the more likely it is that your business will survive.

 

One of the major threats is in the form of competition from other insurance companies. If you don’t have a winning strategy for offering the better products and the lower price, you are going to be in trouble. The earlier you know your threats, the sooner and more effectively you can overcome them.

 

Insure Your Insurance Company

 

One thing that a lot of people overlook, and which is worth knowing from the outset, is that you actually need to insure your insurance company. This helps to protect yourself and customers if anything should go seriously wrong, and it is a legal requirement so you can’t simply overlook it or fail to do it. The insurance should cover general liability as well as property insurance and other important forms of insurance, so it’s definitely a useful thing to have early on.

 

If you can bear these things in mind, you are going to have much more success with starting up your own insurance company.

Find great subscriber-only accounting video and blog content on my Patreon page. Get your questions answered to pass the CPA exam, and to learn accounting concepts.

 

Go to Accounting Accidentally for 300+ blog posts and 450+ You Tube videos on accounting and finance:

 

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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Why You’re Never Too Old To Start Working Towards Financial Freedom

Working towards financial freedom is something anyone can decide to do at any time. Your approach may need to change slightly, depending on how much time you have, but it’s a good goal to have for most people.

Financial freedom allows you to spend your limited time on this earth however you like, without worrying about money. You won’t even need to be a millionaire, like many people believe. You simply need enough money to cover your bills and essentials, and then you’ll need money for whatever it is you want to do – travel? Eat out? Spend a ton of time at the cinema? The world is your oyster! As long as you have a dream, you can come up with a way to achieve it.

 

Let’s talk about what you’ll need to do if you want to start working towards financial freedom:

 

Know Why You Want Financial Freedom

 

The first thing you need to know is why you want financial freedom. The stronger your why is, the better and more likely you will be to stick to it. Your why needs to resonate with you on a deep level, or you won’t stick to your plan.

 

Come Up With A Budget

 

Next, come up with a budget so you can begin working towards your financial goals. Make sure you’re smart about what you allocate to the essentials, and find ways to cut back on your outgoings if you can. You don’t have to live without spending any money on fun stuff at all, but you should be smart and make sure you’re not sacrificing a comfortable future for material items now.

 

Make Your Savings Automatic

 

When you make your savings automatic, you don’t have to think about them at all. You can treat them just like any other bill, safe in the knowledge that the money is building up steadily.

 

Make Your Investments Automatic

 

As well as making your savings automatic, make your investments automatic. Investments are one of the most important parts of reaching financial freedom, as it allows you to build wealth in the future and make the most of compound interest. You can look into stocks and shares, as well as cryptocurrencies and similar investment options.

Staking is the act of locking cryptocurrencies to receive rewards and could also help you to get closer to where you want to be. In some cases, you can even download apps that will invest automatically for you when you spend money – they will take your spare change and invest it, so you don’t have to think about a thing.

 

Work On Yourself

 

The more you know, the better. Work on yourself and make yourself more employable. Better yet, learn about creating content to make money online, and other effective income streams. Keep on learning no matter what!

 

Improve Your Relationship With Money

 

A healthy relationship with money is key. It’ll help you to get into a financial growth mindset, smash your limiting beliefs, and get to where you want to be much faster.

 

 

Find great subscriber-only accounting video and blog content on my Patreon page. Get your questions answered to pass the CPA exam, and to learn accounting concepts.

 

Go to Accounting Accidentally for 300+ blog posts and 450+ You Tube videos on accounting and finance:

 

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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