Kenneth Boyd's Blog, page 5

How Your Small Business Can Unlock Additional Income

Running a business is no small feat. So, just think about it for just a moment: with the ever-changing market dynamics and increasing operational costs (and this inflation is never going back down), finding ways to boost revenue without disrupting daily operations can be a game-changer- plus, it’s just one of those essential ingredients too.

Subscribe to Accounting Accidentally on Substack. Get links to new content on accounting, personal finance, and humor/ short story topics.

There has to be this balance of not overcharging because customers will turn to your competition, and too low means potentially cutting in quality- which still makes customers turn away.

Thankfully, you can still actually make an income, and none of this affects your operations or what you have to charge! That’s right, as long as you own a physical location, you can make additional revenue. So, with that said, what are these potential strategies that you could implement? Well, here’s exactly what you need to know!

Hosting an ATM on the Premise

Honestly, isn’t the idea just really nice to receive free ATM services? Have you ever wondered why some random businesses have an ATM, even when they’re not a grocery store or bank? Well, one of the simplest and most effective ways to earn extra income is by installing an ATM in your business location. But how can you make money with this?

Well, this strategy not only provides a convenient service for your customers but also brings in additional revenue through service charges. Every time a customer uses the ATM, a small fee is charged, which goes directly to you. But on top of that, chances are higher you’ll get foot traffic. On Google Maps it shows local ATMs surrounding you, so more people means more potential sales, too.

Becoming a Parcel-Pickup or Access Point

Another great way to generate extra income is by becoming a parcel pickup or access point for courier services like UPS, FedEx, or Amazon. This involves handling packages for pickup or drop-off, which can attract more visitors to your business and offer a commission for each package processed. But how are you going to get money from this?

Well, people coming in to pick up or drop off packages are potential customers who might purchase something from your business. There’s no guarantee, but there’s at least a chance. But on top of that, courier companies often pay a commission for each package handled, adding to your revenue. Plus, this could even help enhance your reputation since offering these additional services can improve your reputation as a convenient and versatile business.

Selling Advertising Space

So, chances are, this is only going to be successful if you’re located in a good spot. If you’re not, then the likelihood isn’t all that high you’ll be able to get this opportunity. If your business is located in a high-traffic area or has a lot of customers, consider selling advertising space. This can be as simple as placing posters or digital screens within your premises or even offering space on your website or social media channels.

Businesses will pay to advertise in places where there is a guaranteed audience, and this doesn’t interfere in any way, shape, or form with your primary business operations. Plus, it’s up to you what type of businesses you want advertising on your premises anyway.

Vending Machines

These are usually placed at convenience stores, grocery stores, gas stations, and hospitals, right? Well, if you’re in a high traffic area, then this could be beneficial for you too. But as you already know, vending machines are a classic way to provide additional services while earning extra income. Whether it’s snacks, drinks, or even personal care items, vending machines can cater to various customer needs without requiring significant effort on your part.

 

Plus, your team or even you might want to buy from it, too! However, overall, customers appreciate the convenience of quick access to snacks and essentials, which can enhance their overall experience. Plus, once set up, vending machines require minimal maintenance and offer a continuous income stream. You can usually call the company that manages them, and they can come and refill it. Plus, where you have unused space (indoors or outdoors), you’re still making money!

Renting Out Space

Do you have any extra space? Do you own your premise? If you’re renting, then this might not be allowed in your contract (you’ll have to check). This could be for storage, as office space, or even a pop-up shop for other small businesses.

 

But there are other ways to rent out space without it being long-term. For example, there’s PeerSpace, so businesses that have aesthetically pleasing areas can post on there (such as parties or photoshoots), and people can temporarily rent out that space. This is just one example, but there are other services like that, too. But again, you need to have an aesthetically pleasing space in order for this to work out.

Hosting Events or Workshops

If your business has the space, consider hosting events or workshops after hours. Whether it’s a yoga class, a crafting workshop, or a local meetup, these events can draw in crowds and provide a new revenue stream. But generally speaking, events can bring in people who might not have visited your business otherwise.

So, ideally, you’re making use of your space during off-hours to maximize your resources without interfering with daily operations. But overall, the best thing would be the fact that hosting events can create a sense of community around your business, fostering customer loyalty.

Loyalty Programs

So this one really throws owners by surprise, but yes, it still deserves a section on this list. Implementing a loyalty program where customers can earn points for every purchase that can be redeemed for rewards encourages repeat business and increases customer retention. You can partner with other businesses to offer rewards, earning a commission on each redeemed reward.

On top of that, a well-designed loyalty program can enhance customer engagement and satisfaction- so, to a degree, it’s basically expected. But you could even look into partnering with other businesses for rewards, which can create new income opportunities and cross-promotional benefits. Basically, every little thing counts and helps.

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

(amazon author page) amazon.com/author/kenboyd

(email) ken@stltest.net

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

The post How Your Small Business Can Unlock Additional Income appeared first on Accounting Accidentally.

How To Ensure You’re On The Right Track As A Business Owner

Entrepreneurs are often known for their high levels of self-confidence. After all, you have to believe in both yourself and your business model in order to take the plunge and become a small business owner. However, this does not mean that they are immune to doubt or anxieties!

 

In fact, according to a recent study:

 

24% of business owners experience imposter syndrome on a regular basis56% of business owners fear failure51% of business owners continually compare themselves to others38% of business owners second-guess every decision they make

 

Subscribe to Accounting Accidentally on Substack. Get links to new content on accounting, personal finance, and humor/ short story topics.

 

As a result, if you are currently experiencing any of the above as a business owner, you aren’t alone. Fortunately, however, you do not need to sit with these feelings either. There are plenty of steps you can take to ensure that you’re on the right track to building a successful brand – here are just a few examples.

 

Build a strong foundation. One of the easiest ways to ensure that your business is on track for success is by building strong foundations. This way, you’ve got something to rely on should you fall upon hard times.

 

There are many ways in which you can build strong foundations for your business. For example, by ensuring that you take employee safety seriously, you’re able to avoid:

 

Workplace accidentsReputational damageHigh employee turnover rates

 

There are many ways in which you can improve safety on behalf of your employees. For example, you can prevent safety incidents by ensuring that you purchase tools, supplies, and equipment from reputable vendors, as opposed to looking for the cheapest possible option. For example, research companies looking to get their hands on a Basic Racetams – Powder Set should ensure that the set is third-party tested before being put on sale.

 

Learn from false starts. Believe it or not, EVERY business owner makes mistakes, especially when they are first starting out. After all, a passion for what you are doing does not always correlate to experience, and it can be hard to find your footing. However, it’s important that you view false starts as learning opportunities as opposed to failure. Learning from mistakes means that you can avoid repeating them in the future, putting you back on the right track.

 

Don’t let burnout catch up to you. 84% of business owners work over 40 hours a week. While this level of commitment is understandable, it’s not something that you should strive to achieve. After all, it often means that their work-life balance suffers, which could actually prove deadly for your business in the long term. For example, this exposes you to burnout, which not only lowers productivity and efficiency levels but could also cause your passion for your business to die out. This means that you’re no longer likely to put in the work required to put your business on the path to success.

Consult with an attorney, an accountant, and an insurance agent regarding your business.

 

As such, it’s crucial that you recognize the key signs of burnout and give yourself a break when necessary.

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

(amazon author page) amazon.com/author/kenboyd

(email) ken@stltest.net

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

The post How To Ensure You’re On The Right Track As A Business Owner appeared first on Accounting Accidentally.

How To Run A Successful Coffee Company

Although nothing is guaranteed in business and things can literally change overnight, there is one thing you can almost certainly count on – people will pay good money for good coffee. Not only will they pay, but if you plan things properly and do plenty of research, you’ll find there’s a decent profit margin in the coffee business as well, meaning you can be successful pretty quickly.

 

Of course, there’s that planning to consider, and that’s a big part of being successful, so that’s what we’ll take a look at now, giving you some good tips on how to run a successful coffee company. Read on to find out more.

 

Subscribe to Accounting Accidentally on Substack. Get links to new content on accounting, personal finance, and humor/ short story topics.

 

Research Your Target Market

If you’re going to be successful, you’ll need to know that there’s a market for your coffee business, and you’ll need to know who that market is so you can market to them in a way that’s going to capture their attention.

 

That’s why thorough market research is such a crucial part of running a coffee business (or any business, come to that) – in that way, you’ll know who your target market is, and you’ll be able to work with them to give them what they want.

Analyze Your Competitors

Another good way to ensure you’re as successful as possible when you start a coffee business is to analyze your competitors because if there’s one thing we can guarantee, it’s that there’s going to be competition in this area.

 

You’ll need to look at your competitors’ pricing, marketing, the range of drinks and other items they offer, and even take a look at their customer reviews. All this information will give you some excellent insights into how you can be better than the rest and make your coffee company stand out and be unique.

Invest In The Right Equipment

Having the right equipment is absolutely crucial if you want to give your customers high-quality coffee so they’ll love it and want to keep coming back, not to mention telling others about you because your coffee is so good.

 

Make a list of all the things you need from the biggest espresso machines to the smallest coffee brush and get them in place before you open your business – you need to hit the ground running and there’s no room for second chances. Double and triple-check your shopping list to make sure you’ve thought of everything so you can please your customers right from the start.

Find The Right Suppliers

Of course, your coffee machines and other equipment might be good, but they’re not magic, and they won’t be able to make sub-standard coffee taste great – you’ll need to find the right suppliers to give you the best quality coffee possible to ensure that the end result is worth people’s money.

 

The fact is, the quality of the coffee bean could make or break your business, and that’s why you need to partner with a reputable supplier who can get you those beans on a consistent basis. You’ll need to work out what beans make the most sense for you, so think about their origin, the farming practices behind them, and consider sustainability too, and then find a supplier that can give you what you’re looking for.

Emphasize Sustainability

We’ve just briefly mentioned sustainability, and it’s so important we’ll give it its own section here because it really should be something you think long and hard about if you want to run a successful coffee company.

 

The reality is that sustainability is becoming more and more important to consumers, and if you can show that you’re taking it seriously, perhaps by using organic beans or committing to ethical sourcing, and so on, you’ll find your customer base grows and you can be successful – do what you can to reduce your carbon footprint and you’ll soon see positive results.

Create A Brand Story

If you want to find a way to stand out and be different from the rest, it’s got to be down to not just the coffee you sell, but your brand story as well. If you can create a good story about why you wanted to set up your coffee company (ideally a true story, of course), and you’re able to share your passion for what you do, people are going to be interested. If that story is something they can connect with, they’ll be even more keen to try your coffee company rather than someone else’s.

 

Once you’ve got your brand story, you can use it in all your marketing materials, including social media, your blog, print, TV, or radio ads, and your packaging, for example. Come up with a great logo that’s instantly recognizable and connects with your story, and people will know who you are right away.

 

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

(amazon author page) amazon.com/author/kenboyd

(email) ken@stltest.net

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

The post How To Run A Successful Coffee Company appeared first on Accounting Accidentally.

Essentials That Will Help You Launch and Run A Successful Business

When you are trying to improve your chances of successfully launching a business, you need to keep in mind what is involved in this process. There are so many elements that play a role in launching and running a modern company, and this is something that you need to plan and prepare for as much as you can. Developing success as a business owner is something you have to get right, and there are a lot of elements that will help you make this work for you.

 

Subscribe to Accounting Accidentally on Substack. Get links to new content on accounting, personal finance, and humor/ short story topics.

 

It is important to come up with some of the leading ideas that will allow you to launch and run a successful company, and this is something that you have to work on as much as possible. No matter what you might be trying to do as a business, you need to plan and prepare for success with this. Here are some of the things that you need to get right when it comes to launching your company as much as possible. 

 

Starting a Virtual Business – the Basics

 

If you want to start a virtual business, it is important to make sure you have the basics in place, and that means looking at things like securing virtual space, designing a website, and branding the company. It is essential to come up with some of the key ideas that will help you improve this process, and make the right choices for the future. There are so many factors that play a part in allowing you to make your business better and more organised, and this is one of the key components involved in helping you to launch and run a virtual business as much as possible.

 

Look After and Protect the Company

 

There are so many ideas that play a role in helping you to make your business better, and there are so many things that you can use to make this work for you. There are a lot of ideas that can help you to achieve this, and you need to get an intellectual property valuation in order to understand the value of your company and your assets, and this is important for taking steps to ensure and look after it. You also need to protect the business reputation by integrating health and safety elements as well.

 

Boost Your Marketing Strategies 

 

If you want to run a successful company, you need to be able to market and promote your business in the best possible way. This means having a diverse range of different marketing strategies and techniques to work with, and there are so many different factors that you need to keep in mind that are going to help you focus on making this better. You need to try to think about the best ways of being able to market your company, and this is something you can do to boost and promote your business as effectively as possible. 

 

You need to try to focus on some of the best ways of being able to launch and run the best pass level business you can, and there are so many different ways of being able to make this work for you. You have to try to think about some of the most effective ways of being able to achieve this, and make the best possible decisions for the future.

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

(amazon author page) amazon.com/author/kenboyd

(email) ken@stltest.net

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

 

 

The post Essentials That Will Help You Launch and Run A Successful Business appeared first on Accounting Accidentally.

Quick Cash Solutions: Financial Strategies For Urgent Needs

Let’s face it, financial hiccups hit us all at some point. Whether it’s a car that’s suddenly coughing smoke, a fridge that’s more warm than cool, or a last-minute plane ticket you need to buy, these are the moments when you wish money grew on trees. But since it doesn’t, here are five savvy moves to pull when you need cash, like, yesterday.

How to Manage Personal Finances: The Book Read the book on Substack. Watch the videos on YouTube. Email ken@stltest.net to be notified when the book is published in late ’24 or early ’25.

Tap Into The Gig Economy

Welcome to the gig economy, where money-making is at your fingertips, literally. Got a car? Drive people around for a day or two with Uber or Lyft. Fancy yourself a bit of a chef? Whip up some meals and deliver them with DoorDash. Or maybe you’re a pro with graphics or writing? Platforms like Fiverr or Upwork might just be your golden ticket to that cash you need. These sites can connect you with people desperate for your skills, and the best part? You can start earning almost immediately.

Rent Out Assets

You know that old saying, ‘make your assets work for you’? Well, it’s time to take it seriously. If you’ve got a spare room that’s relatively private from the rest of your house, consider getting it listed on Airbnb. Or maybe you have a parking spot you don’t use during the day? There are people out there who’d pay good money for it. And for just about everything else, from your DSLR camera to the fancy suit you wore once, sites like Fat Llama are where you can rent them out. It’s a sweet way to earn cash without having to part with your stuff for good.

Use Pawn Shops

Pawn shops might seem a bit old school, but they’re actually a super quick fix when cash is tight. Got an old guitar or a piece of jewelry gathering dust? Take it down to the local pawn shop and walk out with money in your pocket. The beauty here is the speed—you get cash on the spot. Just be sure you can buy your treasures back before they’re sold to someone else!

Consider Specialty Online Lending Options

Sometimes you just need a quick fix to bridge the gap until payday, and this is where online payday loans can come in handy. You can actually apply online and get money sent straight to your account. They’re super quick but remember, they’re not a long-term solution. High interest rates mean they’re best saved as a last resort, but when your back’s against the wall, they can be a real lifeline.

Community Assistance Programs

Last but definitely not least, don’t forget about community assistance programs. Whether it’s a local charity, a nonprofit, or even a church group, these people are often ready to lend a hand when times are tough. You might find help with groceries, bills, or other essentials, and the best part? It’s usually free help, which means one less thing to worry about paying back.

Closing Thoughts

Navigating a cash crisis isn’t just about finding quick fixes; it’s about smart strategies. Whether you’re leveraging your skills in the gig economy, renting out your unused assets, or even considering a quick loan, each option comes with its own set of perks and pitfalls. So take a deep breath, assess your options, and choose wisely.

Consult with a financial advisor regarding these important decisions.

The post Quick Cash Solutions: Financial Strategies For Urgent Needs appeared first on Accounting Accidentally.

The True Financial Aftermath of Getting into a Car Accident

There’s no one out there that actually wants to get into a car accident; actually, even at a young age, you’re most likely aware of how giant of a hassle it can be if you come out of this safe- if everyone comes out of this safely. While you may be trying to find ways to reduce the costs of driving, you have to keep in mind that no matter what you do, there’s always going to be a chance of an accident- even when you’re not at fault.

 

Consult with a licensed attorney regarding all legal issues.

 

Accidents can happen, and while you have control over your driving and your car, you can’t control the environment, and you can’t control others, either. So that’s why you need to be as cautious as you can and play it safe as you can. Getting into an accident can be detrimental, especially to your finances. But how exactly?

 

Subscribe to Accounting Accidentally on Substack. Get links to new content on accounting, personal finance, and humor/ short story topics.

 

There’s the Chance of Fixing or Replacing Your Car

The first hit to your wallet comes with the damage done to your vehicle. You need to keep in mind that those repair costs can vary wildly, from minor dings that are more annoying than costly to major repairs that can run into thousands of dollars. And if your car is totaled? That’s a whole new level of financial pain, especially if you were still paying it off. If you’re lucky, insurance might cover some or all of it, but there’s often a gap that you’ll need to fill yourself.

Your Insurance Goes Up

Did you know that states with the least number of car accidents usually have slightly lower insurance premiums? In fact, there’s even a new report on the safest places for drivers, and most of these states have lower premiums. While that’s good news, there’s still some bad news: if you get into a car accident, even in one of these states, you’ll still have to deal with higher premiums.

 

Unfortunately, insurance companies generally view drivers who’ve been in an accident as a higher risk (even if you’re not at fault, this can sometimes still happen), which usually means paying more for your insurance moving forward. This can last for several years, adding an ongoing cost to your budget.

Legal Entanglements

Sometimes, things get messy legally after an accident- it’s unfortunate, but it’s the reality. So, whether you’re considering suing someone for damages or you find yourself being sued, legal fees can be astronomically high. If you’re having to hire a lawyer and deal with a prolonged legal battle, it is not just stressful but can also be a significant financial burden.

Potential Medical Bills Piling Up

When you get into an accident, your car insurance company will usually expect you to see a medical professional. But as you might have guessed, that’s going to get really expensive, really fast. Even minor injuries can lead to a stack of medical bills, from the ambulance ride and emergency room visit to follow-up care and physical therapy.

 

If you’re insured, your out-of-pocket costs could include copays and deductibles, and these can quickly become overwhelming. So, for those without health insurance (or even just really bad health insurance), the situation can be even more dire.

There’s a Whole Bunch of Extras

Then there are the additional, often overlooked costs. So, you’ll need to think about things like renting a car while yours is in the shop or extra commuting costs if you have to switch to a different form of transportation temporarily, like needing to rent a car (some car insurances pay for this while some won’t bother). If your injuries require it, you might even need to pay for help around the house.

Work with a licensed insurance agent on insurance-related questions.

 

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

(amazon author page) amazon.com/author/kenboyd

(email) ken@stltest.net

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

The post The True Financial Aftermath of Getting into a Car Accident appeared first on Accounting Accidentally.

4 Ways to Be More Money Conscious When Life Throws a Curveball at You

 

Life is weird, wonderful, and extremely unpredictable. One minute you might be enjoying life with a beautiful family climbing the career ladder of your dreams and the next, you could find yourself homeless and worrying about how to pay for everything your children need to thrive. And, while you should absolutely live life to the fullest, you should also be prepared for the things in life that could turn things upside down.

 

Subscribe to Accounting Accidentally on Substack. Get links to new content on accounting, personal finance, and humor/ short story topics.

 

The best way to do that is by making sure you’re as financially stable as possible. While money isn’t the most important thing in the world, it can certainly help many different situations that you could find yourself in. So, let’s take a look at how you can be more money conscious so that if life does throw a curveball at you, you’re ready for it.

Have an emergency fund

Having an emergency fund is never going to be a bad idea. If you lose your job or get in an accident that means you can’t work for some time, being able to have that peace of mind that you can dip into your savings will really help you stay on top of things. Even if you can only put in a tiny bit each month, it will soon mount up and you’ll be glad you did it if you ever have to use it.

Be level headed

Sometimes being level headed is important when it comes to financial stability. For example, if you’re going through a divorce and you’re the breadwinner, have you thought about what might happen to your children’s home if you have to sell it to split the assets? Instead, you could use a quitclaim deed to sign over the property to your ex and take something else as your share of the assets instead. That way, the assets are divided fairly and your children don’t have to uproot their lives and move out of their family home.

 

The same goes for preparing how your assets are going to be divided when you pass away. Rather than selling your family home, why not make it so that it’s signed over to someone you love, like your children, so they’ve got a roof over their heads even when you’re gone.

Consider investing

Investing is never going to be something that’s guaranteed, but it can be a great way of having money if you ever need it quickly. Investing works by putting your money to back something with the aim for it to make money in the long run. It can be stocks, property, cryptocurrency, or even collector’s items. Either way, it might be worth doing in case you ever need to fall back on it.

Reduce the cost of living

Finally, sometimes saving money simply isn’t possible, and that’s where you need to reduce your cost of living. Look through your statements to see what you’re able to cancel – even if temporary – so that you can start building money again. It might be your gym membership or your Netflix subscription; anything you can do to make sure all of your essential bills are always paid will help in the long run. Then, anything left over can help you start that savings account you’ve been thinking about opening!

 

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

(amazon author page) amazon.com/author/kenboyd

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

The post 4 Ways to Be More Money Conscious When Life Throws a Curveball at You appeared first on Accounting Accidentally.

Avoiding Financial Difficulties When Remote Working – A Mini-Guide

It’s true to say that the job market is as expansive and flexible as ever before. Now, it’s perfectly reasonable for someone to work entirely remotely from home, while still enjoying a full-time job perfectly salaried and including benefits.

 

Subscribe to Accounting Accidentally on Substack. Get links to new content on accounting, personal finance, and humor/ short story topics.

 

Tell this to someone even ten years ago, and it would have been seen as a novelty. However, that doesn’t mean the job market is necessarily seamlessly online in every single aspect. If you’re not careful, an intrepid but well-meaning job hunter could still fall into certain issues, especially if they’re not entirely sure about the specific opportunity and what it includes.

 

In this post, we’ll discuss three warning signs you can use to avoid a scam, a job opening that might not be as competitive as it seems, or an issue that you come to find out about later. This way, you can avoid the grander financial difficulties when job hunting, or wasting your time on opportunities that are less ideal than first presented.

 

Without further ado, let’s begin:

 

Manage Your Taxes Effectively

 

If you’re freelancing on the side, it’s essential to make sure you report your income and include that with any more formal positions you have. It’s easy for remote workers to dip into different disciplines depending on their skill set, and with some opportunities popping up here and there with temporary contracts, it’s easier than ever. That’s why managing your taxes using reporting forms, tracking every expense, integrating a separate account you can view for all sole trading purchases and more will help you manage your taxes as required.

Consult with a licensed accountant for more information.

 

Ask Employers About Remuneration, Benefits & Salary Payments

 

When interviewing for a remote job, it’s essential to ask three questions at the very least – what is the full benefits package and salary, how are the salary or regular payments delivered – sometimes a system such as SDWorx cloud based payroll software is an excellent sign a company is looking to hire correctly – and what remunerations, such as IT devices or desk stipends, are permitted. If they’re in any way vague, uncommitted, or commission-based, make sure to move to another opportunity.

 

Take Withdrawals As & When You Can

 

Some platforms might allow you to earn to a certain amount before you withdraw, and that can be helpful. But if working for a new service or if they’ve introduced a new payment system, make sure to withdraw as often as possible to make sure you bank your work and can accurately track it.

Using services like PayPal can make this process more secure and also give you a handy trackable calendar for when and what you withdrew when. This can make sure that working for disparate providers or vendors isn’t confusing from a financial perspective, and in many cases such withdrawals can easily be tracked by budgeting software for greater insight and trends.

 

With this advice, you’ll be certain to avoid financial difficulties even when remote working, as by knowing your arrangements, you’ll prevent difficulties or bad budget planning over time.

 

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

(amazon author page) amazon.com/author/kenboyd

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

The post Avoiding Financial Difficulties When Remote Working – A Mini-Guide appeared first on Accounting Accidentally.

How to Make Some Extra Cash Without Spending a Dime

You have to speculate to accumulate right? As far as common wisdom goes, this is not a bad bit of advice, but it is also not exactly true; it is totally possible to make yourself some extra money without spending a dime. Here’s how:

 

Subscribe to Accounting Accidentally on Substack. Get links to new content on accounting, personal finance, and humor/ short story topics.

 

Affiliate Programs: Your Slice of the Profit Pie

 

Imagine earning money simply by sharing a link to products or services you already love, like this payday loan affiliate program, for example. It’s like telling your friend about a great movie, but instead of a hearty thank you, you get a cut of the ticket sale. Whether it’s through a blog, social media, or even a well-crafted email, becoming an affiliate is a fantastic way to generate passive income. Just remember, the key is authenticity – stick to recommending products you genuinely believe in, or you’ll end up sounding like a walking infomercial.

Declutter and Profit: The Great Purge

 

Take a look around. See that old guitar gathering dust since your “I’m going to start a band” phase? Or perhaps a pile of books from your “I’m going to read more” resolution? These forgotten treasures could be someone else’s newfound joy. Platforms like eBay, Craigslist, or Facebook Marketplace are perfect for turning your clutter into cash. It’s like a yard sale, but you don’t have to get up at the crack of dawn to set up a table on your lawn.

 

Your Opinion Matters: Surveys for Dollars

 

Believe it or not, there are companies out there willing to pay for your thoughts on everything from new snacks to the latest blockbuster. Signing up for online survey sites can be a simple way to earn a little extra without any investment other than your time and opinions. Just be sure to stick with reputable sites to avoid turning your quest for cash into a lesson in futility.

 

Skill Sharing: Teach What You Know 

Got a knack for knitting? A mastery of Minecraft? Consider teaching your skills to others. With platforms like Skillshare or YouTube, you can create courses or tutorials that help others while helping your wallet. The best part? You’ll be earning money by doing something you already enjoy. It’s like hitting the job jackpot.

 

Get Fit, Get Paid

 

Yes, you read that right. In an age where health is wealth, some apps actually pay you to stay active. From walking to working out, these apps convert your steps into cash or rewards. It’s motivation with a monetary reward – who knew sweating could be so lucrative?

 

The Power of Referrals: Spread the Word

 

Many companies offer referral bonuses for bringing in new customers or employees. It could be your gym, your workplace, or even your bank. It’s as easy as sending a referral link to friends or family, and watching the money roll in, Sure, it might not be a huge amount, but every little helps as any accountant will tell you.

 

In the end, making extra cash without spending a dime is all about creativity, resourcefulness, and a dash of digital savvy. So, what’s stopping you?

 

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

(amazon author page) amazon.com/author/kenboyd

(email) ken@stltest.net

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

The post How to Make Some Extra Cash Without Spending a Dime appeared first on Accounting Accidentally.

3 Great Money Management Tips To Improve Your Finances The Right Way

Finances are often one of the most stressful parts of a person’s life, especially when things are relatively tight. They’re something you’ll want to get control over, and you’ll often want to improve your finances. If it was easy, everyone would be doing it.

While it’s often a complicated area to look after, it doesn’t have to be overly stressful. Instead, there are more than a few ways you can make it easier for yourself. A few money management tips could help quite a bit.

 

Subscribe to Accounting Accidentally on Substack. Get links to new content on accounting, personal finance, and humor/ short story topics.

That’s especially true when it comes to three specific options.

Improve Your Finances: 3 Great Money Tips1. Consider Investing

Despite the fact you want to improve your finances, you could find yourself in the position every month where you have a little extra money. Consider it leftover funds after you’ve paid for all of your necessities. Don’t just blow this on anything you come across, though. Be smart about it.

Investing can be a great approach, especially when you focus on low-risk options. While these take longer to reap financial rewards, you’ll be in a much better position when they do. You could reduce your financial stress a lot more than you’d expect. There’s no reason not to consider it if you have the money.

2. Get Professional Help

There are countless money management tips out there, many of which mightn’t be applicable to you. That’s why it’s always worth speaking to someone who can help you with your specific circumstances. Accountants and other financial professionals can all be some of the more notable of these.

They’re also relatively obvious, but they’re far from the only options you have to choose from. You can even go through various courses to help manage your money, like with The Syndicate. By actively taking control of your finances, you should be in a much better position long-term.

3. Have A Realistic Monthly Budget

You’ll already have figured out you’ll need to have some kind of budget to improve your finances. It’s one of the most obvious money management tips you can hear, and there’s a lot of logic to it. Make sure you’re being realistic when you’re putting this together, though.

Review previous months to get an accurate idea of how much you usually spend. After that, it’s a matter of finding ways to realistically cut your expenses. You wouldn’t be able to completely cut out miscellaneous expenses, for example. Instead, aim to reduce various costs as much as you can.

Improve Your Finances: Wrapping Up

It’s stressful to find yourself in a position where you need to improve your finances to pay for your needs. This could last months and become more and more overwhelming. It’s not something you should settle for, though. You have multiple ways to make it easier.

By putting the effort into them, you shouldn’t have much to worry about. You’ll get there in time, and your finances should get better and better. You should end up having quite a lot less financial stress in your life.

Consult with a financial advisor regarding all financial decisions.

 

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

(amazon author page) amazon.com/author/kenboyd

(email) ken@stltest.net

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

The post 3 Great Money Management Tips To Improve Your Finances The Right Way appeared first on Accounting Accidentally.