Kenneth Boyd's Blog, page 37

Software Solutions For Small Businesses

Small businesses and start-ups have a million things to think about. Depending on the business, you might need a physical office, staff, or other infrastructure – not to mention all of the accounting, paperwork, and legal stuff to get you up and running. You may have questions like Will my insurance cover radon mitigation? to consider.

 

When you start out, your advertising, marketing, and company efficiency can suffer at the outset, meaning that you could be losing out on some vital early revenue. It might seem counterintuitive to invest in software initially, but it can seriously pay off in the long run.

 

Website Design Software

 

If you want to get your small business off the ground quickly, you’ll need a website. And not just any website, you will need one that is reliable, user-friendly, and competitive. There is so much to think about when launching a business, and it can be overwhelming to have to think about all the components of a good website. That’s where website design tools such as WordPress and Bluehost come into play. These two platforms offer the best in functionality and value for money.

 

Email Marketing

 

Digital marketing of all kinds is extremely important for launching your small business, but email marketing requires a quality software application. An email marketing software solution will help you plan your content, maintain an efficient database of clients, and analyze your campaigns’ performance. Autoresponders is one of the best on the market, it is easy to use, even if you haven’t used this kind of software before, and contains all the vital features to make your business a growing success.

 

Social Media Software

 

Social Media is an ever-growing and expanding market place, and it is becoming more relevant for targeted advertising. To reach the right people with the best products as efficiently as possible, you will need to be on top of your social media analytics and ready to invest in ad campaigns.

 

To facilitate a campaign, consider social media software such as Qwaya. It has a full range of features that can effectively segment your audience and target those most likely to convert. Don’t get left behind when it comes to social media.

 

Software for accounting

 

Many small businesses fail in their first year, because of ineffective money management and bookkeeping. To avoid falling into this trap, consider accounting software to make the core of your business as secure as possible. The best overall accounting software is Quickbooks. It is the market leader with all the bells and whistles features; however, it does come at a price. For smaller businesses with fewer employees, Zoho Books is an excellent option.

 

Collaboration Software

 

The need for collaboration software is growing as the world becomes more integrated, and more people start working from home. Businesses need a way for employees in disparate locations to access project files, attend meetings, train new employees, and communicate with colleagues and management. ProjectManager.com is the leading cloud-based collaboration software tool. It has a full suite of features and is entirely cloud-based with excellent security. Asana and Trello are other options with different specialties.

 

For live CPA exam prep and accounting classes, join Conference Room for free. Members will be notified of course dates, times, costs, and how to attend these courses.

 

Get your questions answered to pass the CPA exam, and to learn accounting concepts.

 

Go to Accounting Accidentally for 400+ 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/

 

The post Software Solutions For Small Businesses appeared first on Accounting Accidentally.

Finding a Balance for a Happy Family and a Successful Business

 

People who chase success are often asked what they’d choose between career and family. It’s as if having both can’t be an option. But the question isn’t nonsense, either. Most times, parents who manage a successful business sacrifice time with their family in return, bringing sense to the notion that balancing a career and a family is almost impossible.

 

If you’re a business owner, does that mean that your children are bound to rebel and that your family will be dysfunctional? While either can be at risk of happening because of your demanding work schedule, you can prevent them.

 

Make the Effort to Communicate

 

Some busy parents claim that spending “time” with their family is enough. But can you say the same about managing your business and expect high sales? If giving time for your business isn’t enough to make it prosper, then likewise won’t work in sustaining your relationship with your family. Time needs to be valuable, not just a mundane series of activities that every family does typically.

 

Communication is the key to improve your business operations and family relations. If you want your employees to convey issues to you right away, your family should be able to do the same and feel safe. Therefore, be open to communication, and listen without judging when your family members complain about your frequent absence.

 

Quality time and communication are highly crucial now that classes have resumed for some kids. If you have a teen currently having middle school classes online, they’d need your time more often, even if their school is known for its quality education. Many people are only starting to get used to online classes because of the pandemic, so your child would need your support as they adjust to the new normal.

 

Establish a Routine

 

Running a business is hectic, but if you manage your time, you won’t find yourself struggling to juggle parenting, house chores, and being an entrepreneur.

 

Establish a routine to make your commitments more manageable. For instance, make 7 AM to 4 PM work time while your kids are in school. Then, make it a point to have dinner with your family. Before going to sleep, talk to each of your children for at least fifteen minutes. These simple acts can make a world of difference in your household.

If you can no longer perform chores, assign your kids to do them. Be sure that it’s age-appropriate, so that they can achieve their tasks well. Think about it as delegating; if you employ staff members to carry some burden for you, apply the same principle at home.

 

Acknowledge Your Shortcomings

 

You can’t be a full-time entrepreneur and a full-time, hands-on parent at the same time. But that’s okay. All you need to do, again, is to manage your time well and find balance.

 

If your kids are still young, talk to your spouse about organizing childcare. Set schedules where one of you at a time looks after the kids. Or hire outside childcare services if you and your spouse are both working. It’s okay to do this if your business is your only source of income and needs a chunk of your time. After all, it’s what will build a life for your family.

 

Set Rules and Expectations

 

Your children have to know that you’re managing a business. If your company is home-based, set rules about adopting a specific behavior when clients are around, how to answer business phone calls, etc. Make it clear as well that you’re not to be interrupted while working unless it’s an emergency. These rules will help make expectations clear, and will also make your kids feel involved while you’re at work.

 

You Can Make it Work

 

Managing a business is demanding, but so is running a household. It shouldn’t be a competition on what’s harder. You can have the best of both without feeling like you’re stuck to choose only one of the two.

 

For live CPA exam prep and accounting classes, join Conference Room for free. Members will be notified of course dates, times, costs, and how to attend these courses.

 

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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5 Ways To Make Money When You’re Out Of Work

 

If you’re looking for ways to make money when you’re out of work- but you don’t know where to begin- then don’t worry, you have definitely come to the right place. Whether you’re out of work as a result of COVID-19 or you’re struggling to find the right job for you, you need to be sure you’re doing all that you can to keep things ticking over when it comes to money.

Luckily, there are lots of amazing ways in which you can do exactly that. From selling your unwanted belongings to starting your own blog, you may be surprised at what you can do. With that in mind, here are 5 ways to make money when you’re out of work: 

 

Sell Your Unwanted Belongings

 

One of the best ways to earn money when you’re out of work is to sell your unwanted belongings. Although you may think that the things you own are not worth a lot, you may be surprised at how much you can earn buy selling them either online or in-person. From old antique jewelry to clothes that no longer fit you, they can go for a lot if you choose to sell them. For more information when it comes to antique sales and an estate sale company, you can visit this site here.

 

Start Your Own Business

 

Although this isn’t for the faint hearted, starting your own business is a great way to ensure you have money coming in. From selling baking goods locally to making cards and prints and selling them online, starting your own business is a great step to take. For tips and tricks when it comes to starting your own business, you can visit this site here.

 

Consider Starting A Blog Or Social Media Channels

 

Similarly, starting your own blog or creating influential social media channels is another great place to start. Although you won’t earn money right away, the chances of being able to make money from it are high.

 

Think About Investing Money

 

Although you may need to have a little bit of experience, investing money is a great way to start earning money on the side. For a guide to getting started in investing, you can visit this site here.

 

Buy And Sell Items On eBay

 

Finally, you can buy cheap items and start reselling them on eBay. Whether you pick items up in a local charity store or you buy them online and start selling them for a profit, some people make their entire living off of selling belongings they have bought at a cheap price online. In some cases, people choose to buy wholesale and sell them on for a profit.

 

For live CPA exam prep and accounting classes, join Conference Room for free. Members will be notified of course dates, times, costs, and how to attend these courses.

 

Get your questions answered to pass the CPA exam, and to learn accounting concepts.

 

Go to Accounting Accidentally for 400+ 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/

The post 5 Ways To Make Money When You’re Out Of Work appeared first on Accounting Accidentally.

The Secrets To Saving Money Without Going Absolutely Crazy

You don’t need anyone to tell you that saving money isn’t that difficult. The concept is straightforward; you spend less cash every month, putting some away for safekeeping. You are saving money for when you need it – pretty obvious, right?

 

And yet, people still seem to have trouble saving money. Granted, financial problems can limit how much you save, but everyone still has the potential to save money. The only way you wouldn’t is if you live paycheck to paycheck and have no money after all of your expenses. Everyone can make lifestyle adjustments to put more cash away.

 

The biggest conundrum is working out how to save money without going absolutely crazy. What I mean is that people see saving money as this massive mission. It’s not always seen as a positive thing, but rather a negative. T

 

hat sounds strange, but this is the way a lot of people see it. They look at it as limiting the money you have available to spend. I guess that’s true, but you’re doing it for a good reason! Also, there’s a common argument that saving money means you have to deprive yourself of fun things. You have to literally just pay your bills, buy food, then save money. This isn’t the case, which is what you will see in this guide.

 

If you’re someone that struggles to save money or feels restricted when you save, this article is for you. Below, you’ll discover how to save money without going insane!

 

Work out your income and outgoings

 

Everyone should begin with the same step; work out how much money you make and how much you need to spend every month. This is budgeting 101 and is very easy for you to do. Simply look at your monthly paycheck, then look at your bank statements. If you have direct debits, add them all up, then add on any other key expenses.

 

For reference, you’re mostly looking at these things:

 

Rent/mortgage payments
Phone bill
Energy bill
Internet bill
Water bill
Subscriptions

 

Naturally, some of you will have more expenses than others. Also, you can definitely argue that subscription services aren’t key payments. However, they’re included in this section because they are monthly payments that you always make.

Additionally, if you’re self-employed, it’s harder to know a precise income every month. My advice is to look at your previous year’s earnings and take an average from that. If you can, get a min and max value, just to be on the safe side of things.

 

At this point, you will have two figures to look at:

 

The amount of money that always leaves your account each month
The amount of money you bring in each month

 

However, you’re not quite finished- there are still some other expenses to consider!

 

Work out your variable essential expenses

 

Things like food and gas fall into the category of essential expenses that can vary from month to month. You won’t spend the exact same amount on these things, so it’s difficult to understand how they contribute to your expenses. Try to find an average value that you can add on to your other expenses – think about things you buy all the time but not always at a fixed price.

 

One great way to figure this out is by using a budgeting app. These apps link to your bank accounts and categorize your purchases by category. Some will be able to go back and use your statements to categorize things, which does a fantastic job of showing an average monthly spend on things like gas, food, etc.

 

Now, add this to your expenses and you’re ready to see where you stand.

 

Subtract your expenses from your income

 

The next step is a simple one: subtract your expenses from your income.

 

For example, you have a monthly income of $3,000 and expenses of around $1,500. This leaves $1,500 after all expenses are accounted for.

 

In essence, the leftover figure is all the money you have available to spend or save each month.

 

Decide how much you want to save

 

Take your figure and decide how much money you want to save every month. There’s no set value for how much you need to save, so it’s entirely up to you. Some people say that 20% of your monthly income is a good place to start. If we use our example, this means you save $600 a month. In turn, you’re left with $900 to spend on non-essentials.

 

Once again, the 20% rule isn’t a proper rule at all, just a suggestion. You can save less or more depending on your financial situation. If you have a particular savings goal – say, a mortgage down payment – you may have to take a different approach. Look at your goal, consider how quickly you want to get there, and then judge how much you can save. This is a great approach to saving as you can pretty much work out how long it will take to save up for something.

 

Set up a standing order

 

A standing order is like a personal direct debit to yourself. You can set them up using online banking and it basically means you pay a set amount into an account every month. Obviously, we’ve missed out one vital step in this process – opening a savings account. We won’t cover that in this post as it’s too long to go over.

 

There are loads of accounts out there, so spend your time finding the best one. As a tip, opt for savings accounts that offer high-interest rates, since they will give you the most return on your savings!

 

Your standing order can be the figure you’ve decided to save or a fraction of that figure. It might be a good idea to save money in more than one way. For example, half of your savings can go into that account, then another half into an investment portfolio. Some investments are reliable and earn better interest rates. Still, there’s always a risk that you can lose money, so keep that in mind.

 

Here, you’re in a position where you’re saving money every month without needing to think about it. It all happens naturally, just make sure you have the cash in your account to pay the standing order!

 

Stay within your spending budget

 

The money that you don’t save can be your monthly spending budget. This includes everything that isn’t in your essential expenses. Effectively, it’s spending money to spend on whatever you like.

 

If you feel like spending some money on new shoes, go ahead. If you want to spend a few dollars on some mobile slots, be my guest. However, you need to stay within your spending budget!

 

In our ongoing example, you have $900 spending money each month. You can use all of it if you want, but you cannot go over it. If you go over it, you may ruin the rest of your budget and messing up your savings.

 

There’s one way you can gain control over your spending to avoid going overboard. Open another bank account, then split your spending money across each week in a month. For example, $900 divided by four gives you $225 of spending money a week. Put this into your new account and only use this for spending money. This way, if you run out of cash, you know that you have gone over budget.

 

For me, this method works, because it stops you from constantly checking your balance and worrying that you’re spending too much. You really shouldn’t go over budget, but you can use your new card with less fear.

 

Also, if you don’t spend anywhere near as much as you allocate yourself, you can save some extra money that month. Let’s say you only spend $700 out of your $900 – you could put that extra $200 in your savings, or put $100 and carry an extra $100 to the next month.

 

Work on lowering your expenses

 

The running example is a generous one. Not everyone will be gifted with so much money to spend and save per month. In some instances, you might be left with hardly anything when your key expenses are subtracted from your income. It’s still possible to save money, but you may need to heavily restrict yourself. You don’t buy anything other than the essentials, which tends to lead to a bad relationship with money.

 

Instead, go back to your essential expenses and look at ways of saving money. Here are some ideas:

 

Switch energy bill providers for a cheaper contract
Cancel your subscriptions
Buy non-branded food products to save on your monthly food bills
Use your car less to cut down on petrol
Be more energy efficient at home

 

The list goes on, but this decreases your expenses, which will increase how much spending and saving money you have every month.

 

Hopefully, this guide makes sense and has taught you how to save money without going crazy. It’s not that hard, and you can break it down into two main parts. First, work out your budget, and then work on lowering your expenses to allow for more savings.

 

For live CPA exam prep and accounting classes, join Conference Room for free. Members will be notified of course dates, times, costs, and how to attend these courses.

 

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/

 

The post The Secrets To Saving Money Without Going Absolutely Crazy appeared first on Accounting Accidentally.

4 Vital Ways To Keep The Cost Of Building Your Own House Low

Many people avoid building their dream home because they think that the cost will be too high. However, this doesn’t necessarily have to be the case. In fact, there are many strategies you can use to keep the costs of building a property low. Keep reading to find out what they are.

 

Keep it simple

 

While it is tempting to create a detailed and unique masterpiece when buying your own home, it is worth realizing that this will impact the cost. The good news is that there are some straightforward ways to keep building a property down. The first of which is to opt for simple geometric shapes.

 

Yes, that does mean dropping the curved wall and windows. However, with the right design, you can make an impressive impact with your building without such extra bells and whistles. In fact, with the right use of windows, interior and exterior design, you can create a home that is both relatively simple and stunning.

 

Materials and methods

 

You may think the way to keep the building costs down is to opt for the cheapest materials and construction methods. Indeed this will make sure your initial building budget is the lowest it can possibly be. However, there are some drawbacks to this option that may make you want to think twice.

 

In particular, the cheapest options now, often do not serve you the best in the long term. They don’t tend to weather or wear well, and so can end up being a false economy, and require replacing much sooner than more quality items later on. To that end, it is imperative that you carefully weigh up which option is more relevant to you and your needs.

 

Choose the right professionals to help you

 

The same also goes for choosing the cheapest construction professionals as well. After all, there are plenty of people out there that can offer you assistance when building a home. Whether you find them through apps, adverts or recommendations.

 

However, only expert custom home builders will provide you with the quality and experience to ensure your property is built to last. Sometimes that means you could end up paying to renovate or even rebuild much sooner than you would have liked if you don’t choose the expert option.

 

Think carefully about square footage

 

Finally, if you want to keep the building and the running cost of your dream home low, you must consider how much space you will need.

 

Of course, it’s easy to think that the bigger your property is, the better. Although this isn’t always the case. In fact, sometimes properties with less square footage can be a better investment because they cost less to build, and less to maintain and heat once completed.

 

It’s all about striking the right balance between having enough space for your family and lifestyle, and making sure you keep building costs as low as possible. A process that will look slightly different for each person that goes through it.

 

For live CPA exam prep and accounting classes, join Conference Room for free. Members will be notified of course dates, times, costs, and how to attend these courses.

 

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/

 

The post 4 Vital Ways To Keep The Cost Of Building Your Own House Low appeared first on Accounting Accidentally.

Purchasing An Executive Car To Match Your Lifestyle

When it comes to a car, many of us can feel that it can give us some sort of status. It isn’t just a tool in getting us from one place to another, and often we need it as part of our job as well as seeing it as a reward and some luxury in our lives. However, if you are in the market for an executive car there is often a lot more to think about when it comes to making the purchase. With that in mind, here are some of the things to think about.

 

The make and model

 

One of the first things to think about would be the make and model of the car that you want to purchase. Whether that means you know what you want, or whether you need to create a list to help you come up with some ideas on potential manufacturers to explore. You could visit a Bentley garage for the ultimate in luxury cars, or other manufacturers like Land Rover, BMW or Mercedes-Benz. The model of vehicle may be determined simply by what you want from the car, such as a big boot space, the drive, the engine size or the added extras.

 

Where you purchase it

 

Where you purchase it is important as you want the best possible deal. This is when looking online at potential dealerships, looking or even visiting them if you can. You could also talk to dealerships further afield and see if they are prepared to deal with you over the phone and deliver the car. Sometimes the best deal is not always online, and your local dealerships can offer not just a good price but also the best service.

 

The budget you have

 

Think about your budget carefully. Many people make the mistake of looking at the total price, but if you are not using a lump sum of your savings to pay for it this can be counter productive. Many people choose to buy cars on hire purchase or through lease schemes because they are a depreciating asset. So your budget is more based on what you can afford monthly, rather than a total vehicle price. You may be surprised by what your monthly figure can afford you.

 

What you need the car for

 

Sometimes the executive and luxury car is not just for social and domestic pleasure. You may need it for work. Some people like to have an executive car to match with their job title, or simply to help present them in the best possible light. You might also need a vehicle that is comfortable to drive and excellent on fuel if you will be using it to travel around a lot.

 

The future plans

 

Finally, take a moment to think about your future plans. It is all well and good wanting that two seater convertible but if you have plans for a family imminently is that going to be practical? You want to ensure that you think about what you might need the vehicle for in the future or any potential time frame in which you might need to change. This can help with your budget as well as the decision making process.

 

Let’s hope these tips help your when it comes to purchasing an executive car.

 

 

For live CPA exam prep and accounting classes, join Conference Room for free. Members will be notified of course dates, times, costs, and how to attend these courses.

 

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/

 

The post Purchasing An Executive Car To Match Your Lifestyle appeared first on Accounting Accidentally.

5 Things You’re Probably Spending Too Much On

There are certain costs you can’t avoid, and it can be difficult to budget sometimes. It’s necessary to spend money on your home, your family and general living costs often add up. There are areas you can save money on, however.

Many people could actually reduce their expenses easily, but don’t realize it. There are a few simple tricks to help save on things like utilities, gas, and even taxes. Here are five things you’re probably spending too much on.

 

Your utilities

 

There are several ways you can save on your utilities. You could change your energy provider and look for a better deal. It might also be that you’re behind on maintenance, and a new boiler could reduce costs significantly. Any leaks or damages will cost you more over time.

 

You can also put more effort in to reduce your energy consumption. Consider upgrading to a smart home and taking better control of your thermostat, electrics, and all appliances. This will you’ll be able to keep your bills to a minimum. It’s also a lot better for the environment.

 

Your taxes

 

It’s a good idea to check there’s nothing you’re entitled to, whether it’s welfare or even compensation. If you have a feeling something may not be right and you could be entitled to compensation, contact a Zantac Lawsuit Lawyer for more information.

 

There are also ways you can minimize your tax liability by finding some tax reductions you’re not claiming. It’s a good idea to do your research or speak to a financial advisor.

 

New cars

 

Buying a new car is certainly a status symbol. There’s nothing quite like taking your shiny new wheels for a test drive. The problem with new cars, however, is that they all inevitably suffer from immediate depreciation. Your car will significantly drop in value as soon as you drive it out of the dealership.

 

Instead, it’s better to opt for used cars. This doesn’t necessarily mean a beaten old thing. You can buy almost new cars, which will save you a lot of money and will have already gone through this depreciation. You might save on insurance too. Here is a guide to new vs used cars to help you decide which is better for you and your budget.

 

Groceries

 

There are several ways to save on groceries. The shocking thing is that food waste is a serious problem. It’s important to start buying less. Don’t stock on items you won’t eat. There’s no need to fill your fridge with items that will expire soon. By taking more care planning your meals, you can avoid spending so much on groceries.

 

Gasoline 

 

Many people spend too much money on gasoline. You can see from the average state gas prices averages that this should be an area you try to save on. Instead of taking the car, consider walking on using public transport. You’ll spend less and it’s better for your health as well.

 

 

 

For live CPA exam prep and accounting classes, join Conference Room for free. Members will be notified of course dates, times, costs, and how to attend these courses.

 

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/

 

The post 5 Things You’re Probably Spending Too Much On appeared first on Accounting Accidentally.

Protecting Your Financial Future In 5 Easy Steps

If the coronavirus pandemic has taught us anything, it’s that you never know what’s around the corner. Unforeseen circumstances could quickly put you under financial stress. And those situations do not have to be linked to global health threats. Therefore, taking the necessary steps to protect your finances should be top of the agenda.

 

Here are five simple steps that will support your financial health while also providing the peace of mind you deserve.

 

Get Into The Habit Of Spending Less

 

Before worrying about major financial decisions, it’s imperative that you put the right foundations in place. Whether it’s saving money on kitchen upgrades or removing unnecessary monthly service subscriptions, the decision is up to you. Either way, spending less money on a regular basis will allow you to grow your retirement fund at a far faster rate.

 

Crucially, this will also make the transition to a lower income in later life far easier to embrace. Regardless of how much you earn, this step is an essential feature.

 

Diversify Your Investments

 

A pension and an ISA will give you a good starting point for building a better financial future. However, smart investments are the best way to boost your retirement funds by far. There are plenty of options at your disposal, from Forex trading to funding businesses. In relation to the former, Compare Brokers can help you find the right support.

 

Ultimately, you only need to see profits that outweigh the interest rate you’d gain from the ISA or savings account. Do this, and your future will look healthier.

 

Gain The Right Insurance Coverage

 

As mentioned, the pandemic has shown that unforeseen circumstances can throw everything up in the air. You must, therefore, learn to expect the unexpected and be ready for every scenario.

 

The right insurance coverage will remove one source of panic whenever those situations surface. The types of coverage you may want include home, vehicle, pet, income, and life insurance. While it will cost you a few extra dollars per month, it will deliver peace of mind.

 

Avoid Legal Pitfalls

 

The harsh reality is that many people fall victim to legal battles every year. When dealing with big financial assets and major expenses, it’s not uncommon to find yourself entangled in a dispute.

 

The support of an experienced lawyer is essential. Tony Raunic is an attorney that focuses on cases related to property. Professional support from someone that works solely on the relevant sector will put you in a far stronger position. Better still, the insight can make the journey ahead feel far less daunting.

 

Prioritize Debts

 

Most people need to use lines of credit throughout their lives. Even if it’s simply getting a mortgage or buying a car on finance, you’ll likely use debt to make large purchases.

 

Late payment charges and interest rates can blow a massive hole into your finances. Credit cards, store cards, and other short-term borrowing can deal an even greater financial blow. Where possible, you should try to buy items outright or use 0% interest purchases. When this isn’t possible, keeping up with your payments is key. Over your life, it’ll save thousands.

 

 

For live CPA exam prep and accounting classes, join Conference Room for free. Members will be notified of course dates, times, costs, and how to attend these courses.

 

Get your questions answered to pass the CPA exam, and to learn accounting concepts.

 

Go to Accounting Accidentally for 400+ 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/

 

The post Protecting Your Financial Future In 5 Easy Steps appeared first on Accounting Accidentally.

Simple Ways To Downsize Your Life And Save Money

Downsizing is often the answer to someone looking for ways to save money. There are plenty of other reasons to downsize, however.

Maybe you are a new empty nester, and you realize you don’t need a lot of space. Or, you’re going through a transition phase and you need all the extra money you can to save and get back on your feet. Either way, downsizing your life can be stressful. You have to determine where in your life you can cut things down a bit. If you are looking to save money and downsize, here are some things you should keep in mind.

Keep Things Automated

When you set up automated payments on your monthly bills, not only will it save you time but it will also save you stress. You do not have to keep a watchful eye over your calendar, and you won’t pay your bills late. The money will always be taken out on time, as long as you have money in the account.

Along with setting up your bills for autopay, you should also consider downsizing your monthly expenses. It is recommended that you cancel any subscriptions or memberships you are not using.

Another good thing to automate is your savings. Instead of manually setting money aside, having it come straight out of your bank account is the best way to ensure you are saving money every month. It is also recommended that you automate contributions to your retirement fund.

By doing these two things, you won’t even notice that money, because it will go to your savings accounts before you have a chance to miss it.

Rethinking Entertainment

Nowadays there is an entertainment subscription for whatever you watch and consume. While this may have been all right before, if you are looking to downsize this may be an area for saving money.

If you have cable, re-evaluate what you really need. Is it a must that you keep HBO and Showtime as part of your subscription package? Instead of having 200 channels, consider switching to a plan that provides you with basic channels.

It may be best to kick cable to the curb all together and only go for streaming, since it is typically cheaper. Just make sure that you’re not signing up for every single streaming subscription available. Instead, pick one or two that you will use on frequently.

Cut Back On Space

Downsizing your living space is another way to save money. If you are renting, trade your rented home for apartments for rent. The amount you save in overhead costs will significantly decrease by doing so.

 

There is no need to pay for extra space you are not using. Consider moving to a place that gives you only the space that you need. That way you are living a downsized lifestyle without having to sacrifice the things that bring you comfort.

 

 

For live CPA exam prep and accounting classes, join Conference Room for free. Members will be notified of course dates, times, costs, and how to attend these courses.

 

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/

 

The post Simple Ways To Downsize Your Life And Save Money appeared first on Accounting Accidentally.

Why You’re Struggling To Make The Most Of Your Money

People spend most of their lives putting earning money to cover their bills, hobbies, and growing families. They treat their jobs with respect. They set their alarm to get up on time. Bring their focus and energy to work. After work, they recuperate in preparation for the next working day.

 

However, once payday comes, and the byproduct of their hard work is finally here. Many people don’t take care of their money or respect its value. Whether failing to compare motorbike insurance for the best deal or, frivolously spending money on things they can’t reasonably afford. Even though they’ve spent all week or month putting in the hours to earn it. Other examples include

Improper Budget- Or No Budget At All

 

A paycheck often brings a sigh of relief for couples and families struggling to stretch their income over the month. Sometimes, the struggle isn’t because an individual isn’t earning enough- it’s a mark of how a person is managing their money.

 

A solid financial budget incorporates the weekly and monthly fluctuations in bills. If you operate with no budget at all, you’ll struggle to make ends meet.

 

It’s essential to respect the fruits of your labor, as much as you respect the work itself. Meaning, treat your income like a job, and as if you’re the boss. You need to delegate your money to fulfill specific roles, such as paying the bills and savings for financial freedom. The leftovers are for splurging (within reason).

 

Strategic budgeting shall improve a persons’ financial outlook and ensure they are taking better care of their money.

Placement Of Money

 

Crumpled up in your back pocket, stashed in your car’s glove compartment, or down the back of the sofa. Money in these locations shows a distinct lack of respect for its value. Your cash needs somewhere to live, that’s safe. If it’s not safe, it becomes prone to theft, damage, or you lose it.

 

A wallet or purse isn’t the only place to store your money. This point also regards accounts. Saving a lump sum of money each paycheck is excellent. But leaving it to do absolutely nothing in an account with low interest rates, shall do it no good.

 

As mentioned above, treat owning your money like a job, and put it in places where it will reap the most benefits. Think about the amount of walking around money people lose, because it’s not in a secure bag. Here’s another one: the interest people miss out on, because they can’t be bothered to spend time moving it to an account that works for them is phenomenal.

 

The crux of this article is;

 

If you expect your money to take care of you, you must take care of your money. — Suze Orman

 

Strict monthly budgeting is essential. Placing your money where it is safe and where your money can work for you in a high interest or investment account is vital.

 

 

For live CPA exam prep and accounting classes, join Conference Room for free. Members will be notified of course dates, times, costs, and how to attend these courses.

 

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/

 

The post Why You’re Struggling To Make The Most Of Your Money appeared first on Accounting Accidentally.