Month: July 2021

The decision to start saving is one of the most significant steps an individual can take during their life. However, planning to save money and actually doing it are two completely different things, and many people do not pass the planning phase. Starting a savings plan is more difficult than simply thinking about or planning it.

People think many expenses are necessary, and it becomes challenging to deduct the right amount to save regularly.  Consistency is critical when it comes to savings, so automated savings have become a perfect solution to saving consistently.

Typically, people take a portion of their paychecks and transfer it to their savings accounts themselves. But in the case of automated savings, all of this is done automatically. As soon as an individual receives a paycheck, a fixed amount is transferred to their savings account hassle-free.

For people considering automated savings, it is one of the most prudent ways to save. When compared to conventional methods, this technique is superior with amazing benefits. Here is a list of reasons why automated savings is the right step towards a secure financial future:

1. Savings Without Effort: Savings takes a lot of effort to minimize expenses and avoid spending on luxuries. With this automatic technique, individuals can set a fixed amount they want to transfer to their savings account regularly. Also, they must determine the frequency of those transfers to their savings accounts. Both these fixed amounts should be based on how much an individual earns and the pay cycle, whether weekly or monthly. Once these have been set, the saver does not have to make any efforts to become acclimated.
2. Spending Less than Earned: It is difficult for people to keep their spending within their earned amount. No matter how much they earn, it is just not enough, and this has become a common practice. With automatic savings, a portion of the total earnings is immediately moved to savings reducing the available balance an individual can spend. This helps build a habit of spending less than the amount earned, and a person can cut down spending on unnecessary things.
3. Emergency Funds: No one knows what life has in store, and many emergencies catch people off-guard and unprepared. Being prepared for every possible situation is the best way to approach life events. With automated savings, people have a backup if things go wrong if or an emergency comes up. This saving technique helps gather funds for an emergency without any stress and with minimal effort.
4. Avoiding Procrastination: Procrastination is a pervasive attitude, and people should recognize that it is never too late to start saving. With an automatic saving strategy, procrastination can be avoided, and individuals can start automated savings at any time.
5. Separate Accounts: Automated savings requires an individual to have a separate account from their primary banking account. This savings account, where the automated savings are deposited, eliminates the chance of savings funds being spent unnecessarily. With automated savings, people can forget about the amount being saved because it is in a separate account inaccessible by a debit card.  

It is time to say goodbye to excuses used to avoid saving because an automated saving enables people to reserve a portion of their income in a separate account. Automated saving is a practical and feasible way to prepare for a convenient and secure life in the future. These are the top reasons why one should choose automated savings; without investing much effort and time, people are empowered and confident in facing their future or an emergency.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Your vehicle is a long-term purchase, and buying a vehicle is perhaps one of the highest expenses you will incur. Vehicle owners are often inexperienced when it comes to basic automotive repairs and maintenance.

A proactive approach is best to ensure you get the most out of your purchase. This approach includes carrying out preventative, scheduled, and regular maintenance recommended by your mechanic and the vehicle manufacturer.

Whereas vehicle repairs are sometimes inevitable, often regular maintenance and checks help prevent expensive repairs in the future, saving you money. At the same time, ensuring your vehicle is in good working condition can have other long-term advantages.

A poorly maintained vehicle won’t just damage your wallet. It could cause an accident with devastating consequences. Therefore, the importance of vehicle maintenance is high. Here are eight preventative maintenance for your vehicle that is important.

Improving Gas Mileage

Visiting your local mechanic for regular upkeep will help improve your vehicle’s mileage. Neglecting to replace your vehicle’s oil or air filter will adversely influence your vehicle’s gas mileage.

It’s suggested you have a regular timetable oil change changes every 3,000 miles. It’s likewise significant that you get complete suspension maintenance every 15,000 miles to help keep your vehicle’s ideal gas mileage.

Saving Money

It is far less expensive replacing your crankshaft belt every 50,000 miles contrasted with revamping your motor because of a snapped belt. Consistently reviewing and cleaning your battery each time you have an oil change will likewise go far, saving you from the threat of getting abandoned because of a dead battery. An inadequately kept-up vehicle is inclined to cause exorbitant mishaps and represent a danger to you and other street clients.

Prevent Damage

Numerous actual vehicle issues influencing your motor and transmission are preventable with routinely booked maintenance. Check your producer’s proprietor’s manual or visit an expert auto mechanics shop to discover what preventive maintenance your vehicle requires and how regularly they should be performed. Essential maintenance, for example, oil change and fluid levels, will expand the life of your vehicle.

Regular Oil Change

The top maintenance service any vehicle gets directly from the producer is an oil change. This assistance is done the second your new vehicle tickers around 500 miles. It is throughout this break-in period that few parts of the motor start to meet up.

Over the long haul, tiny bits of metal sever and blend in with the motor oil. Getting an oil change will help flush out the trash, keep your motor solid, and work at ideal execution. Customary oil maintenance is required every 3,000 miles.

Transmission Checkup

Your transmission is maybe the costliest segment of your vehicle with regards to fixes. Without your transmission, your motor wouldn’t have the option to change the force it produces to the wheels to get the vehicle going. Hence, it’s essential to plan standard checks to keep away from transmission-related issues, including having a liquid flush as required.

Belt Change

Your vehicle utilizes a few belts to run appropriately, including the fan belt, crankshaft belt, drive belt, and force guiding belt. After general use, these belts start to wear off, and if disregarded, they could snap and cause catastrophic harm to your motor. Check your manufacturer’s manual or visit your neighborhood mechanic to check your belts.

Tire and Brake Inspection

Most highway mishaps are because of broken brakes. It shows how powerful great working brakes are to your vehicle and security. A general guideline is to check your brakes and suspension framework each time you play out an oil change.

Your brakes will not work if you have destroyed tires, it will likewise be challenging to control your vehicle when conditions get wet, and the streets get elusive. To ensure that your tires last more, plan a tire turn every 3,000 miles to help even mileage impacts.

Battery Maintenance

Without a battery, your vehicle thing has not been able to start and crank. Generally, battery life is from two years to many years. Many batteries carry a lifetime warranty, so they should be checked with every oil change.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Investing in agriculture can be lucrative for every investor looking to invest in long-term payoff outside the stock market or real estate business. The demand for food and other farmed commodities will always be present and increasing.

Investing in agriculture is a good move for savvy investors who want steady returns. It is also an excellent investment for those who want to diversify their portfolios. It has been estimated by the year 2050, economic and population growth will result in the highest demand for food and commodities in history.

Also, in the last 20 years, there has been more interest in organic foods without modifications which has added extra demand for free of pesticides and is not genetically modified. This type of demand is expected to continue to grow in the next thirty years, as well.

How can you invest in agriculture?

There are numerous ways through which you can invest in agriculture. You can invest directly into an agriculturally based business or mutual funds related to agricultural companies. You can invest in farmland yet to be developed with future development possibilities. Also, you can invest in commodities traded on the stock market.

You can buy or sell futures for crops such as rice, wheat, sugar, and soybeans using Exchange Trade Funds (ETFs), which are traded like stocks. ETFs follow a product’s value making this type of investment easy and profitable.

Commodity investments are risky and affected by innumerable variables such as severe flooding, droughts, or other random acts of nature. These disasters could result in seasonal losses. However, in most cases, these setbacks are overcome and result in high and steady returns.

Purchasing stocks in farming supply or food production companies, or agricultural mutual funds offer a more traditional agriculture route. Although the potential profits and values will correlate with the overall industry trends, this type of investing will generally have great returns.

Investing in Agriculture is Good for All Generations

Millenials

Investing in real estate or the stock markets is the most common investment option for newer investors. However, both markets have endured significant volatility and are considered over-hyped by numerous investment experts.

Hence, Millennials need to consider other investment options. Investing in agriculture, especially in harvest-yielding farmland, allows them to hold a complex resource or asset, which will give them great returns well into the future.

Generation X

Generation X is moving toward retirement, and many have likely been investing for years. Because of this experience, the Generation X investor is moving towards less risky and safer investments. While the agriculture business does carry some risks, it is considered a safer investment because food and commodities will never be obsolete. Because of the years of foreseeable demand, agricultural investments are perfect for Generation X investors.

Baby Boomers

Baby boomers are currently retiring at the rate of around 10,000 per day in the United States. Many don’t have enough saved for their retirement because of a lack of preparations and the stock market fail of 2008 and 2009. They are searching for safe investments that could produce consistent annual returns to top up current pensions.

While different agriculture investments take approx. 5 to 20 years before producing returns, there are agricultural investments with returns within two years of investment. This quicker turnaround on investment makes some agricultural investments perfect for the Baby Boomer.

Conclusion

Based on several variables and analysis, it is clear that investing in agriculture is far less risky than real estate or the stock market. The reason for lower risk is that food and commodities will never be obsolete, and as the population and economy grow, so does the demand for both.

You can wholly invest in agriculture or use it to diversify your portfolio. However, investing in agriculture is a good idea for every severe investor, no matter their experience or age. Whether you are looking to invest in your future retirement or fund your current lifestyle, agricultural investments will provide a reasonably safe and steady return on investment.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Auto Maintenance and repair can be an expensive endeavor. Most people find it challenging to find a good and honest mechanic. Many mechanics will make up repairs that don’t need to be done to make more money from the transaction. Those mechanics that do this count on the fact that most people don’t know much about cars. Here is everything you need to know about auto repairs.

Find a Licensed Shop

All automotive shops should hold an automotive repair license. Most people will do an internet search to find a shop. However, before taking your car to the location, you should do some research. Once you arrive at the shop, you should ensure that the state-issued license is clearly displayed.

Having an automotive repair license does not guarantee the work. However, an unlicensed repair shop will be more likely to be shady in the transaction.  

How to Find a Good Auto Repair Shop:

• Take recommendations from family and friends and others whom you trust.
• Search for a repair shop before your car needs repairs, so you are not rushed.
• Shop around online for the ideal auto repair shop using their website and reviews.
• Check with the Better Business Bureau to ensure the shop is in good standing.
• Ensure the shop will honor your car’s warranty if you still have one.
• Ensure all technicians employed at the shop are licensed and have a good reputation.

Understand Repairs and Charges

Before agreeing to any repairs, you should know upfront what the auto repair shop charges for labor per hour. Once the technician identifies the issue(s), they will give you an estimate of the repairs. Do not agree to the repairs and costs until you research the repair yourself.

The number of hours a repair takes is not literal hours. There is a standardized manual put out by manufacturers that lists the flag hours each type of repair will take. If the mechanic takes longer or finishes sooner, the number of hours charged will be the number of flag hours determined for that repair.

To ensure you are not charged more than you should be, ask the technician to tell you the repair name, look up the flag hours with the manufacturer, or ask the tech to show you the flag hours. You can also look up the general costs of parts so you can ensure the estimates are accurate.

Always ensure you get the estimate in writing once you accept the repairs and estimate. Also, ensure that no other work will be done before you approve it, so there are no surprise repairs or costs when you pay and pick up the vehicle.

Get a Second Opinion

If you are getting reasonably standard repairs, you may not need to get a second opinion. However, if an unfamiliar shop or technician recommends costly repairs or brings up unexpected repairs, you should get another shop and technician to look at your vehicle before you agree to any repairs.

It is in your best interest not to advise the second mechanic of the repairs suggested by the first to ensure there is honest concurrence. Once you have two independent technicians agree about the repairs, you can proceed to have the work done with a signed and written estimate for the work.

After the Work is Complete

Obtain a finalized repair order explaining the work done. It must list every repair done and partly provided, the final cost of every repair and part, the vehicle’s odometer reading, and labor charges.

Protecting Your Auto Repair Investment

Warranties

There is no standard warranty for repairs. However, you should enquire about part warranties and labor guarantees before agreeing to the repairs. Ensure that all guarantees and warranties are in writing. Understand the warranty restrictions, including mileage, time, deductibles, or any other restrictions the auto repair shop has if their work or the part fails.

Heading Off Problems

The more knowledge you have about your vehicle, the more likely you will head off the repair issues. Take your car in for regular preventative maintenance and drive your car carefully. Be aware of any changes in the vehicle’s drivability and take your car for diagnostics if you hear, smell, or sense an issue. Many issues will be less costly if caught early.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When someone asks how a bank makes money, the response is: by granting loans and investing in securities.  While that is true, many people do not know that the biggest source of profit for banking entities is commissions. It can be said that banks and savings banks charge commissions for absolutely everything.

Commissions are established by each entity, so consulting the Bank of Spain will ensure that a series of requirements are met and comply with the law.  These requirements must be necessary and respond to a service provided.  They cannot be satisfied by another product contracted by the client, must be communicated to the clients, published, and given to associates within the bank.  The requirements cannot be abusive, and clients cannot be charged for transactions made due to failures or negligence of the entity.  Fees cannot be charged if they do not appear in the contracts and cannot exceed certain limits, for example, 1% in the cancellation of a variable mortgage.

Applicable bank commissions

The fees normally applied regarding a money transfer, keeping accounts, withdrawing money from Automated Teller Machines (ATMs), having cards, studying and/or create a loan, canceling a loan, and having an overdraft account.

It is difficult to avoid fees, so the only thing we can do is compare different entities and look for the lowest commissions.  Although, in theory, the fees must have a degree of flexibility, consumers often do not find themselves in a strong position to negotiate them with the bank.  For example, if you need a loan and Bank X grants it to you, then you may not feel able to demand that one fee be reduced or entirely removed. In Spain, it seems that clients tend to be tolerant and not combative when accepting the fees imposed.

Average annual expense

According to a study by Consumer magazine, the annual commissions can cost a person between $40 and $210.  This can quickly add up when considering most individuals have a checking account, a credit card, and a debit card and make an average of six transfers.

Additionally, when you complete the credit card application process, you must often pay the relevant opening fees without considering mounting debt in addition to paying any partial or total early cancellation fee. Similarly, if there is a bank that lends money at a lower rate or with less initial fees, it seems inevitable that adding a mortgage later will cost even more in relevant fees.

Entities that do not charge bank fees

Lately, the media has made many announcements regarding banking entities that claim not to charge commissions. While this seems like a dream come true, it only seems to reason that any fees or annual commission will be incurred if the fine print of Terms & Conditions is thoroughly read. For example, several commissions, including Account Maintenance, are not charged to creditworthy clients or shareholders but are charged to individuals with lower credit scores.  Similarly, an Account Maintenance fee might be waived, but other fees regarding mortgages may still be charged.

Other banks may not charge a wide range of fees, so you open more accounts with them.  When you trust them with your payroll, insurance, mortgages, accounts, cards, and pension plan, they earn more from your accounts than charging small fees.

In addition to lending and investing in securities, banks and other financial institutions rely on commissions and fees as a main source of profit.  These institutions are not going to eliminate fees but can reduce or waive non-financial commissions, including account maintenance, account transfers, and card issuance and renewal. Take time to research fees between institutions and select accounts and credit cards that meet your needs but are not costly.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

What is Reverse Mortgage?

The elderly population may find it difficult to obtain a loan from the bank. The bank thoroughly examines the financing and loan repayment objectives before placing requirements on the borrower to obtain collateral for repayment of the loan. These conditions do not make it easy for the elderly to receive a loan or mortgage from the bank.  Fortunately, there is a solution to this problem in the form of a reverse mortgage.

A reverse mortgage allows someone to obtain a loan from the bank at a value that is no more than half the value of the property. This loan is typically for the individual who lives in the property in his possession and when this property does not have a mortgage.

In a regular mortgage each month, the shareholders’ equity decreases, and the value of the asset rises. However, a reverse mortgage, as one can understand from its name, works backward. In a reverse mortgage, you can make the property cash value, and there is no need for monthly loan repayments. The loan can be obtained in three ways:

• As a credit line account, as required
• As a fixed monthly amount
• As a single lump-sum payment

As noted, unlike a regular mortgage, a reverse mortgage borrower is not required to pay the bank monthly payments for the repayment of the loan. This is because the bank guarantees the return of the loan by the property itself and makes sure to record a warning note in favor of the bank in the property records. The loan and interest are ultimately paid when the property is sold, either because the borrower sold the house or he passed away.

When a property owner dies, his successors are the ones who need to repay the loan and interest within a period of one year from the date of death.

Heirs can repay the loan from their own money or from the money they will receive from the sale of the inherited property. If the heirs do not want or cannot repay the loan money, the bank can sell the property to repay the loan, and the balance of the money will transfer to the heirs.

Reverse mortgage advantages

A reverse mortgage allows people over 61 to make their home cash, especially those who live in a property that is valuable but have difficulty financing the current expenses of the house.

Older people who are no longer paid monthly, or adults who do not have life insurance that can guarantee repayment of a loan, will find it difficult to take out a traditional mortgage loan. For these individuals, the reverse mortgage money can be used to finance medical costs and treatments.

Lines of reverse mortgage image

A reverse mortgage is a special loan intended for people aged 60 and over. Its main purpose is to pledge the residential property for a percentage of it in cash, with the repayment being made by the heirs of the asset upon the death of the borrower. The loan is in considerable amounts relative to the value of the property, usually from 15% at the age of 60 to 50% at the age of 90. The financial conditions of the mortgage are convenient and suitable for the needs of the elderly and those who want a high quality of life in later years.

The loan amount is taken in cash while providing the home as collateral, with the maximum loan amount determined by the age of the recipients of the mortgage and the value of the asset. The principle here is that loan recipients are not required to make monthly repayments, with repayment possible up to a year from the time of death. It is important to emphasize that the residential property remains owned by the lessee at all times, although in coordination with the company that gives the loan, they can sell it. The loan bears fixed interest linked to the consumer price index.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

An important benefit of saving money regularly is that it allows you to achieve a goal, whether it is short, medium, or long term. Additionally, another benefit of saving is the creation of an emergency fund. In the United States, only 39% of adults that save use their savings to face emergencies or unforeseen events.

Better-safe-than-sorry saving

No one is immune from accidents or incidents; however, we can all be prepared to face these events with the help of our savings.  Otherwise, the event and its consequences can be very costly.

For example, a person without savings has an accident, an illness, loss of employment, or material damage to their property. To cope with this situation, he would have to get money from a friend or family member or take out a personal loan.  Ironically, not having savings for emergencies reduces his chances of borrowing money since a family member or an entity would charge interest.  He would then be forced to use his credit card irresponsibly and become over-indebted.

Consider saving within your budget

It is important to consider including an amount to save each month when you create your budget. This amount may vary, but it is recommended that it correspond to your savings goals. If you are saving to purchase an item, consider saving an amount large enough to include that purchase and increase your emergency fund.

Saving for unforeseen events

Just as the emergency fund is important, it is also important to supplement and obtain insurance, including life insurance, major medical expenses, car insurance, and liability insurance. For example, if you get into a car accident and have car insurance, you can pay the deductible and avoid incurring unnecessary debt.

Use the Savings Simulator

With a Savings Simulator, you can understand saving and investment options in the market, tips to apply before opening an account, and the main rights you have as a saver.  Similarly, the Savings Simulator allows you to make a personal savings program considering an initial investment and periodic additional contributions within the pre-established time.

Keep your money safe

Saving seems easy but takes time and effort.  Avoid informal savings plans like pyramid schemes or keeping your savings under your mattress, as both options put your financial health and family at risk.

Informal savings include:

• Savings at home and the use of batches are the two mechanisms most used by informal savers (28% and 14%, respectively).
• 44% (31 million) of the adult population saves in the informal market.
• 29% of women use the savings at home and 16% the batches in greater proportion than men, while 10% of them use the loan to a large extent among individuals.
• Informal savings are used for the same uses as formal savings; however, for the informal, personal expenses occupy the first place (38%), followed by emergencies or incidentals (27%) and education or health (23%).
• Household savings is the only mechanism of informal savings that is greater in the smaller localities (31%) than in those with 15 thousand inhabitants and more (27%).
• The use of informal savings to increase family assets, such as investing in a house or business, is relatively small (14% and 4%, respectively).
• Regarding formal savings, 36% (25 million) adults claim to have at least one product.

The problem of informal savings is that it includes risks.  For example, in a round, the who organizes it can keep the money and not distribute it.  Similarly, if you keep your money at home, someone can enter and steal it, or you could lose it in a fire or flood.

Is it possible to save?

If you save a dollar a day, your savings becomes $30 in a month and $365 in a year. Similarly, if you save $10 a day, you will have $300 per month and $3,650 per year. Take advantage of the different options banks offer, so you can choose the one that best suits your needs and saving goals.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The best time to buy a car is one of the biggest questions you can ask yourself if you need to renew a lease or purchase a new vehicle. This purchase is not a financial decision that you can make lightly because it usually requires financing. Determining the best time to purchase a car will also provide a timeframe to save money and lower down payment.

The price of a car can vary throughout the month depending on the time of year and the salesperson who attends you at the dealership. That is why it is important to consider what is the best month to buy a car or what specific day to approach, asking for prices before pursuing the car of your dreams.

If you can plan and be flexible, keep in mind that dealers work based on sales targets imposed by the car brands. Each month they have a goal to achieve and do not always fulfill it.  Therefore, the last three or four days of the month are usually the most stressful time for the dealership and the best time to buy a car.

The best month to buy a car

Choosing the best month in which to buy a car is essential. Each year there are usually three windows of opportunity that you can take advantage of listed below:

1. December is the best time. At the end of the year, dealers accelerate their processes to meet their car sales targets. Likewise, if goals have been missed throughout the year, December is the final opportunity for salespeople to meet their individual goals. A dealership that has not achieved its company goal will be more likely to offer a price that allows you to save the most with the purchase.
2. The second-best month to buy a car is August because the average consumer usually saves money during previous months to go on vacation in his brand-new car. Car sales fall after August. The dealer sells fewer models and moves away from his goal. Nobody wants to spend a month without selling a single vehicle. Consequently, the dealership will be friendly and favorable to offer you better conditions for the car of your dreams.
3. The best time to buy a car is after a poor month of sales when there is overstock. Commonly, there is a bad month of sales, and the dealer is forced to buy models directly from the manufacturer to meet their objectives.  New cars without use or that have zero mileage are registered by the dealer. They have not been used, are only a few weeks old, and usually have favorable discounts. The best months for this situation are January and February; many dealers have been forced to buy cars from brands to meet targets they could not sell in December.

The best time to buy a car

Finally, you can always take advantage of the nature of the automobile industry. The renewal of products occurs quickly, so the average life of a model is usually 4 years at most. If you are attentive to advertising, you will know when the new models are coming.

This is important to note so you can take advantage of the inventory for the previous model. Discounts are usually generous, and the dealer will sell a model with no future in the dealership.

In summation, go to a dealership to purchase a car the last few days of the month when salespeople are anxious to make a sale and meet their monthly individual goals.  Also, plan to purchase a car at the end of the year, when dealers want to ensure they can meet their yearly goals, or at the beginning of the new year when the unsold inventory is likely to be discounted.  Now that you know when to buy a car, you can start looking for the model you want and plan your savings accordingly. 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Technology and innovation are crucial to the growth and success of any business. Operating a business takes drive, intelligence, and the use of every tool available to you. Therefore, innovation has to be part of your business from the beginning.

Innovation has been a part of the world since the beginning of time. Every modern convenience we have came from someone innovating. When owning and operating a business, whether you or someone in a similar industry, taking on innovation will ensure that your business will thrive. Here are three innovations that will help your business become successful.

Product Innovation

Product innovation can be the invention of a new product or advancements in an existing product. For a business based on a product or multiple products, innovation must be central.

Innovation can be driven by consumer demand, industry advances, or the fulfillment of a need. Necessity is considered the mother of invention. However, it is the mother of advancements, improvements, and new products when it comes to product innovation.

Business owners can’t shy away from updating their product or products when it comes to growth. However, in some cases, the original product may not need advancement or change, so you also have to understand when to keep a product as is. In those cases, the innovation will need to come through the invention of new products that maintain the brand’s integrity.

Process Innovation

Process innovation is the advancement of processes used in the operation of the business. Operations could include production, administration, sales, or marketing. Changes in the equipment and technologies used in production (including applications used in product design and development) and improvements in the tools can improve productivity and increase revenue.

Also, updates to software systems used to assist in the supply chain and logistics system, changes in the tools used to market and manage your product, and approaches used for accounting and customer care are more examples of process advancement.

While innovation and changes to the process will benefit the customer, the difference is internal and will make overall business operations easier for the entire business staff.

Business Model Innovation

Business model innovation is the most difficult because it provides a company with significant improvement criteria. Sometimes, the skills or systems that have been optimized to make a business competitive and sustainable become the priorities for restructuring.

These shifts will threaten aspects of the company’s branding and clash with market values or commitments in certain circumstances. Product and process progress may both be gradual and mild, while business model innovation is disruptive, risky, and revolutionary.

Businesses such as Uber, Airbnb, and Spotify used business model innovation to break the mold of how business models were expected to work. They are excellent examples of fast-moving businesses that were able to challenge age-old markets (taxi service, hotel stays, and music) by tweaking or upending their industry’s traditional business model.

Both existing businesses and startups can modify their business model when developing an initial concept. These innovations in the business model can result in more significant revenue and overall success in well-established industries.

Historic Innovation Examples

Coca-Cola implemented innovation in their product in 1985 during the throes of an epic taste battle with Pepsi. This change to their creation was an epic failure resulting in them putting out the original formula called Coca Cola Classic. Eventually, this lapse in judgment was wholly erased when “New Coke” was phased out and the original Coke product was back in its rightful place.

Henry Ford’s invention of the world’s first successful assembly line is one of the most prominent and pioneering examples of process innovation. This process streamlined vehicle assembly and reduced the time required to manufacture a single vehicle from 12 hours to 90 minutes.

Differential recently created a smartphone distribution dashboard for Grupo Bimbo. The baking corporation has 65 assembly facilities and 2.5 million distribution outlets spread over 22 countries and three continents. 

Because of this worldwide spread of facilities, the mobile sales dashboard provides the team with easy access to sales statistics and other key performance indicators (KPIs) for each region, channel, and brand, eliminating guesswork in sales decisions and minimizing meeting times.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Instead of technological progress, many construction businesses still use manual data entry such as balance sheets, spreadsheets, and other paperwork for accounting and operations records. They also do not take advantage of the latest job site and construction project innovations to enhance their business.

There are practical applications and advantages to modernizing your current processes. In construction, time is money, and using technology to help run the business will save a lot of time that can be used to serve clients and bring in more revenue.

There is also technology that is innovative for the construction side of the business. These technologies include drones, virtual reality, wearables, Building Information Modeling (BIM), and mobile technology. Here are six technologies used for construction and how they can change your construction business.

Mobile Technology

Mobile technology is not only for personal use and games anymore. Applications are emerging that can be used for construction work with positive results. The enhanced portability of smartphones and tablets permits greater communication and the ability to work remotely.

Applying this sort of technology into your current processes is low cost and will increase productivity in daily operations. Mobile technologies will save time and keep your project moving forward faster by giving real-time updates and making data and information available between the office and the job site. You can immediately access the updated revisions to reports or plans and get them to the project handler or manager off-site.

Drones

Drones have only been around for a short period and have proven their usefulness in so many ways. They are also proving their usefulness in the construction industry as there are many areas on a construction site that are difficult to get to and assess.

Drones are being used to conduct site research more accurately and quickly than a crew on the ground and are less expensive than aerial imaging. The data collected with high-resolution cameras can create engaging 3D or topographical models and maps and take volume measurements.

Another advantage to utilizing drones is that they can securely examine difficult-to-reach places like tall buildings, bridges, and other difficult-to-get places.

Drones can also be used to check work and see the progress made by crews all over a job site. The time and difficulty saved by using drones will offset any equipment costs.

Building Information Modeling (BIM)

Building Information Modeling is software used to create 3D models digitally of what will be constructed. However, its capabilities do not stop there. BIM also creates different layers of metadata and integrates them into a construction workflow.

Almost 33% of builders have used this type of software since its inception. The utilization of BIM promotes collaboration because every person can add their input to the model. Adding to the 3D model will replace the need to consolidate different versions of 2D paper drawings.

Streamlining this process allows collaborators on a project to add to the model in real-time. It makes the process of bringing together all aspects of the planning process more efficient. BIM also helps to streamline problem-solving in the planning and design stages of the project by automating the process and giving a complete rendition of the finished project before construction begins.

Virtual Reality

Virtual reality technology is frequently used in conjunction with BIM to assist in better understanding complicated projects. Once you create a building design through BIM, virtual reality can be used to bring it to life.

VR will provide your client or the team an even more accurate idea of what the project will look like when it is finished. Having a complete picture of the project before starting can identify potential issues that can be costly to discover later.

Wearables

Wearables are a construction innovation that will affect job site risk and safety management. One example of innovative construction wearables is smart glasses. These glasses have an Augmented Reality (AR) display, broad-angle camera, depth sensor, and other characteristics that permit the workers to gather and see information in the glasses while on the construction site.

The glasses provide workers with data and instructions required to finish a task, leaving less room for error and saving time. They can also help with safety concerns by delivering the wearer vital information on the area and other essential work information.

Conclusion

These are a few of the many technologies that can propel a construction business forward. There is another technology out there that could be useful to the construction industry. However, these six innovations would be the most beneficial, outside of accounting and bookkeeping software.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.