The gearing ratio measures the proportion of funds borrowed by a company to equity. It is calculated as the total loan (liabilities of the long and short-term included in this loan) divided by the total equity of the shareholder. This is an important term used in bookkeeping. A specific formula is used to calculate the gearing ratio in bookkeeping.

It is the amount of equity needed to pay outstanding debts. Low gearing is the best option for SMEs because a company with a 10% gearing ratio would pay off debts more quickly. Investors also consider it a low-risk company, while companies with a high gearing ratio of around 50% or above are considered a greater risk because they could be defaulters or bankrupts if profits decline for short periods or rates of interest increase.

The gearing ratio is one of the most common tools used to evaluate a company’s financial fitness. 

The formula to calculate the gearing ratio in bookkeeping is as follows:

Gearing ratio formula = Debt / (Debt + Equity)

Types of Gearing

• Financial gearing
• Operational gearing

 

1. Financial gearing

Financial gearing includes using debt to fund a business.

Financial gearing increases risk, though returns are raised. Debt is a risk for the business. It is a relationship between loan and equity, i.e., how a business is funded.

2. Operational gearing

This term is less commonly used. It refers to the relationship between a business’s fixed costs and variable costs.

Disadvantages of Higher Gearing Ratio

A higher gearing ratio suggests a great deal of leverage when an SME consumes debt to pay for its ongoing operations. In a trade recession, such SMEs may face distress while meeting schedules of their debt and are at risk of bankruptcy. The condition is precarious when a firm involves debt engagement interest rates with variables because a sudden rise in rates could lead to severe problems in the payment schedule.

A regulated industry such as utilities is not as affected by this. They have a monopoly in business, and regulatory authorities will increase the rate to cover the gap and ensure their continued survival. Possible requirements by financiers to lessen this problematic situation are restricting agreements that disallow the payment of shares, enforcing extra cash flow into debt repayment, constraining substitute cash usage, and requiring shareholders to place additional equity into the firm’s debt repayment.

Creditors have a similar concern but are commonly incapable of enforcing alterations in the firm’s conduct. SMEs that require large, fixed assets have a higher gearing ratio. A company with a low gearing ratio may be managing its finances with a conservative approach.

However, it may indicate that a company is engaged in extremely cyclical diligence and can’t afford to become overextended in the face of an unavoidable downturn in trades and revenues.

Methods to Reduce Gearing Ratio

In bookkeeping, the value of the gearing ratio of a company can be reduced by the following methods:

• Trade shares. If an SME can obtain permission to sell shares from its board of directors, the revenue received could be used to pay loans.
• Convert debt. These debts could be converted into shares after negotiating with lenders.
• Decrease working capital. Two ways to decrease the working capital are reduced inventory levels and escalating the speed at which receivable accounts are collected. The second is to increase the duration in which accounts payable must pay and lengthen the days required to pay. These methods produce cash, which is used to pay off debts.
• Escalation of profits. Practice all known methods to increase revenues so that more cash is generated, which could be used to pay off loans.

Conclusion

SMEs should maintain a low gearing ratio as it shows that the company is financially stable. This will result in attracting a large number of potential investors or lenders.

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

How Small Businesses Can Strategically Increase Sales: A Detailed Guide

In today’s fast-paced business world, small businesses face the monumental task of competing with larger enterprises. However, their agility and personalized approach give them an edge. Implementing innovative and effective sales strategies can significantly propel their growth. This article delves into practical strategies for boosting sales and highlights successful small business facts that inspire.

Understanding Your Unique Value Proposition

The starting point for any small business looking to increase sales is to clearly define its Unique Value Proposition (UVP). What makes your product or service stand out? Maybe it’s the bespoke customer service, the artisanal quality of your products, or perhaps an innovative solution no one else offers. Your UVP is your banner in the crowded marketplaces, helping to attract and retain customers.

Leveraging Social Media

Social media isn’t just a place for memes and pet videos; it’s a powerful tool for businesses to increase visibility and sales. Platforms like Instagram, Facebook, and Twitter allow businesses to connect with their audience on a personal level. For example, fashion retailer Zara has mastered the art of social media marketing, using its platforms to showcase new arrivals and engage directly with customers. By consistently sharing and interacting with your followers, you’ll create a loyal customer base who are more likely to make purchases.

Fostering Customer Relationships

Word-of-mouth is a powerful tool, especially for small businesses. Building strong, genuine relationships with your customers can lead to repeat business and referrals. Providing exceptional customer service, personalizing interactions, and showing appreciation through small gestures like thank-you notes can make a significant impact. A happy customer isn’t just someone who comes back for more but also someone who cheers for your business.

Diversifying Your Offerings

Diversity in your product or service offerings can open up new revenue streams and attract a broader customer base. Consider the success story of Starbucks. They started by selling high-quality coffee beans and coffee-making equipment. Today, they’ve expanded their offerings to include a wide variety of beverages, food items, and even merchandise. This strategy of diversification helps mitigate risk and capitalize on new market opportunities.

Optimizing Your Online Presence

The internet is the primary platform for potential customers to learn about your business. A top-notch, professionally designed website can significantly influence the perception of your business. It’s essential to guarantee that your site is mobile-friendly, easy to navigate, and search engine optimized (SEO) to maximize visibility and, ultimately, drive sales. Keep in mind your website is your digital storefront, so let’s make it count!

Implementing Targeted Promotions

Comprehending your customer base empowers you to customize promotions and offers for specific segments. For example, a pet supply store can confidently offer a discount on dog food to customers known to have dogs. These targeted promotions not only drive sales but also significantly enhance customer satisfaction by providing relevant and enticing offers.

Educating Your Customers

Especially in industries where products or services are complex, education can be a powerful sales tool. Providing valuable information through blogs, tutorials, or webinars can help demystify your offerings and position your business as an authority in the field. This approach fosters trust and can significantly influence purchasing decisions.

Embracing Analytics

Data is an invaluable asset in understanding what works and what doesn’t in your sales strategy. Utilizing tools to track website traffic, conversion rates, and customer behavior patterns can provide insights necessary to fine-tune your approach. For instance, if you notice a high cart abandonment rate on your e-commerce site, it might be time to streamline the checkout process.

Successful Small Business Facts That Inspire

• The power of small

According to the Small Business Administration (SBA), small businesses make up 99.9% of all U.S. businesses. This statistic underscores the significant impact small businesses have on the economy.

• Survival rates

Contrary to the common belief that most small businesses fail within the first year, about 80% survive their first year, and about half survive for at least five years. This fact highlights the resilience and potential for growth small businesses possess.

• Job creation

Small businesses are a major source of employment, creating 1.5 million jobs annually and accounting for 64% of new jobs created in the U.S.

• Innovation leadership

Small businesses play a crucial role in innovation, producing 16 times more patents per employee compared to large patenting firms. This innovation drives industry change and contributes to economic growth.

Conclusion

Increasing sales in a small business involves a multifaceted approach, from understanding your unique value proposition to leveraging the power of social media and analytics. The success stories and facts shared here serve as a testament to the potential of small businesses to thrive and scale. By implementing these strategies with dedication and agility, small businesses can not only increase their sales but also carve out a significant space for themselves in the market landscape. Remember, every big business started small; your growth journey is just a strategy away.

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

Self-storage units, often overlooked by small business owners as a mere extra space for personal belongings, have emerged as a cornerstone in the quest for agility and efficiency in the business landscape. These awesome spaces offer a range of benefits designed to cater to the ever-changing needs of small businesses, from retail startups to budding online ventures.

In this article, we’ll explore the multifaceted advantages of self-storage units for small businesses, supported by compelling facts and statistics, shedding light on why these unassuming spaces might be the growth catalyst your business needs.

Why Self-Storage for Small Businesses?

In an era where business agility is not just an advantage but a necessity, self-storage units present themselves as an optimal solution for various logistical and operational challenges faced by small businesses. Utilizing self-storage spaces can lead to cost reduction, enhanced efficiency, and, ultimately, significant business growth.

Cost-effectiveness

Renting commercial or retail space comes with a hefty price tag, not to mention the long-term lease agreements that can tie down a growing business. In stark contrast, self-storage units offer flexible lease terms and a variety of sizes to suit your precise needs. According to a report by Mordor Intelligence, the global self-storage market was valued at $48.02 billion in 2020 and is expected to reach $64.71 billion by 2026. This growth underscores the cost-effective nature of self-storage solutions, making them an increasingly popular choice among cost-conscious business owners.

Scalability

One of the most compelling advantages of self-storage for small businesses is scalability. To effectively address the needs of business expansion and seasonal variations, it is essential to possess the capacity to adjust inventory storage without the complexities associated with relocation or lease renegotiation. Self-storage facilities provide a diverse range of unit sizes and flexible terms, thereby empowering businesses to readily modify their storage space according to their immediate requirements.

Enhanced security

The importance of security in business operations cannot be overstated, especially for enterprises that hold valuable inventory or sensitive documents. Modern self-storage facilities are equipped with state-of-the-art security features, including 24-hour surveillance, secure access points, and sometimes even climate-controlled units to protect delicate items. This level of security gives small business owners peace of mind, knowing their assets are well-protected around the clock.

Convenience and accessibility

Small businesses, particularly those operating in e-commerce, require continuous access to their inventory. Many self-storage facilities offer 24/7 access, ensuring that business owners can retrieve or store items according to their schedule, a critical component in maintaining customer satisfaction and operational efficiency. Additionally, these facilities are often strategically located, providing easy access and reducing transportation time and costs.

Decluttering and organization

A cluttered workspace can significantly hinder productivity and, by extension, profitability. Utilizing a self-storage unit allows small businesses to store seasonal equipment, excess inventory, and rarely-used documents offsite, leading to a more organized and efficient work environment. This not only optimizes operational space but also contributes to a more professional business appearance, which is crucial for attracting and retaining customers.

Enhanced focus

Perhaps one of the most overlooked benefits of self-storage for small businesses is the mental clarity it offers. By outsourcing storage needs, business owners can focus more on core activities and growth strategies rather than getting bogged down by logistical concerns. This cognitive unloading can lead to more innovative ideas and growth strategies, propelling the business forward.

Facts and Statistics Supporting the Use of Self-Storage

• Cost savings

According to the Self Storage Association, utilizing self-storage can significantly lower overhead costs compared to leasing additional commercial space. Small businesses can save up to 30-50% by opting for self-storage solutions.

• Increasing demand

The demand for self-storage has seen a steady increase, with occupancy rates across the U.S. averaging 92.5%, according to a study by the Self Storage Association. The increasing demand indicates that self-storage is being more widely recognized as a crucial business resource.

• Diverse users

A survey by the Self Storage Association revealed that approximately 25% of self-storage units are rented by businesses, underscoring their value to the commercial sector.

Conclusion

In conclusion, self-storage units offer a flexible, economical, and secure solution for small businesses seeking to streamline their operations. From retail startups to e-commerce giants, the benefits of self-storage extend far beyond mere storage space, offering businesses the agility, efficiency, and focus needed to thrive in today’s competitive market. With the backing of compelling statistics and undeniable advantages, it’s clear that self-storage units are more than just a place to store your excess stock—they’re a strategic partner in the path to business success. 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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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. Reviewed By: Brittany McMillen

Brittany McMillen

Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.

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In the bustling hub of small businesses and startups, understanding and optimizing conversion rates is paramount. This analytical approach not only gauges the efficacy of marketing strategies but is also an integral marker of business vitality in a digitized marketplace. Let’s unravel this essential metric, explore its significance in small businesses, and delve into what constitutes a good conversion rate supplemented by pertinent statistics to paint the full picture.

What is a Conversion Rate?

The conversion rate is a powerful metric that definitively measures the percentage of website visitors or platform users who take a specific action out of the total number of visitors. This action could be making a purchase, signing up for a newsletter, downloading a guide, or any other behavior that aligns with the business’s objectives. Essentially, it’s an indicator of how effectively a business is convincing its audience to take the next step in the customer journey.

The Importance of Conversion Rates in Small Businesses

For small businesses, every interaction counts, and understanding conversion rates can be the compass that guides their digital marketing efforts. It provides insights into the effectiveness of their online presence – whether it’s their website, social media, or email campaigns.

Resource allocation

Knowing what drives conversions helps businesses allocate their budgets more efficiently. Rather than spreading resources thinly across various channels, conversion data enables targeted investment in high-performing strategies.

Customer insights

Analyzing the actions that lead to conversions uncovers valuable information about customer preferences and behavior. This insight enables the implementation of more personalized and effective marketing strategies.

Performance benchmarking

Conversion rates offer a quantitative measure to benchmark and track performance over time. They help set realistic goals and evaluate the impact of changes or optimizations to marketing tactics.

What Constitutes a Good Conversion Rate?

While conversion rates can vary widely by industry, product type, and target market, a “good” conversion rate is generally one that exceeds industry averages and shows an upward trend over time. Statistically speaking, the average landing page conversion rate across industries hovers around 2.35%, yet the top 25% are converting at 5.31% or higher. Specifically in e-commerce, a sector with considerable overlap with small businesses, average conversion rates range from 1% to 2%.

However, striving for continual improvement rather than settling for average is key. Incremental increases in conversion rates can significantly impact a small business’s bottom line. For instance, increasing a conversion rate from 1% to 2% effectively doubles sales or leads without increasing traffic, which can be a game-changer for small enterprises operating on limited budgets.

Strategies to Improve Conversion Rates

Improving conversion rates is an ongoing process of testing, learning, and optimizing. Here are some strategies proven to enhance conversion rates:

Optimize website design

Ensure your website is user-friendly, with clear calls-to-action (CTAs) and an intuitive layout. In the current digital landscape, mobile optimization is paramount due to the substantial shift in web traffic originating from smartphones. A comprehensive mobile optimization strategy is essential to accommodate the diverse range of devices and screen sizes, ensuring an optimal user experience and maximizing engagement with your website.

Enhance landing page experience

Tailoring landing pages to specific audiences or campaigns significantly improves conversion rates. This includes relevant content, engaging visuals, and a seamless path to conversion.

Personalization

Using data to personalize the user experience can dramatically lift conversion rates. Personalization strategies include targeted messages, product recommendations, and customized emails.

A/B testing

Regularly testing different aspects of your website and marketing materials can provide insights into what resonates best with your audience. Even small changes can lead to meaningful improvements in conversion rates.

Trust signals

Incorporating reviews, testimonials, and security badges can build trust with prospective customers, encouraging them to convert.

Business Statistics

• Businesses that regularly conduct A/B testing see 50% higher conversion rates than those that don’t.
• Personalized CTA buttons can increase conversion rates by up to 202% compared to generic CTAs.
• Email marketing remains a potent tool, with an average ROI of $42 for every $1 spent, highlighting the importance of converting visitors into subscribers.
• Small businesses that leverage customer testimonials on their websites have seen up to a 34% increase in conversion rates.

Summary

In conclusion, understanding and optimizing conversion rates is not just about numbers; it’s about creating meaningful engagement with your audience, refining your marketing strategies, and ultimately growing your business. Small businesses stand to gain significantly from a thorough analysis of conversion rates to make informed decisions that optimize their marketing strategies and ROI. The process of enhancing conversion rates is continuous, but the benefits in terms of customer loyalty, brand power, and financial gains undoubtedly justify the effort. 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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

Ensuring top-notch performance is absolutely essential for every business! It’s not just about measuring how well the business is doing but also about recognizing the outstanding contributions of your amazing employees. By implementing effective methods for checks and balances, you can gain valuable insights into whether your team is meeting and even surpassing expectations. With so many methods available, it’s exciting to discover the perfect one that suits your unique work environment, business type, and other important factors. Let’s unlock your business’s full potential together!

The data obtained from these methods undeniably influences employee compensation packages, employment status, career advancements, and roles within the organization. This underscores the critical need for performance management approaches that facilitate precise and equitable evaluations of employee performance. To gauge business performance effectively, it is imperative to implement a standardized performance measuring system across the organization. Performance standards tangibly quantify the anticipated results for employees to meet the company’s expectations.

While each business may employ its unique methods to measure performance, the procedures outlined below can be universally applied to businesses based on their individual requirements.

Methods to Measure Business Performance

Graphics rating scales

Graphic rating scales are highly effective for manufacturing-oriented businesses and other workplaces dealing with high-volume products, especially in the food and beverage industry. Each trait is meticulously rated on a scale of 1 to 5, allowing for precise evaluation of employee performance. This approach offers a comprehensive and efficient assessment of an employee’s capabilities and productivity with utmost ease. This method requires nothing but planning and a little bit of effort, and the results are satisfactory. This is also time-efficient, which allows you to measure business performance in no time. It can be applied to a wide set of people with consistent results and little ambiguity. No matter what size of business you are in, you can apply this method and acquire first-hand data quickly, which can be further used to make vital business decisions.

Management by objective (MOB)

Management by objectives is a robust method used to evaluate the performance of senior employees, managers, and supervisors. All goals are meticulously identified, listed, and supported with the necessary resources for achievement. These goals are time-bound, requiring completion within specific timelines. Employees are extensively assessed based on their ability to meet these goals within the given time. The flexibility to adjust or update goals based on market conditions and other variables ensures adaptability. When goals are too ambitious and require rescheduling, they are carefully discussed and restructured.

Implementing management by objectives guarantees that managers and supervisors clearly understand their goals, enabling them to perform accordingly. This method also facilitates the efficient identification of individuals who are unable to meet the set objectives. While this approach is a robust measure for evaluating employee performance, it demands patience for yielding results, given its thorough nature.

Forced ranking

General Electric successfully implemented forced ranking, although its popularity has waned over time. Despite this, the method remains effective for certain types of businesses. Forced ranking categorizes employees as top performers, average performers, or low performers, with approximately 20% being top performers, 70% falling into the average category, and 10% being the weakest performers.

This method measures employee achievements relative to their peers rather than their past performances or KPIs, creating a competitive work environment that suits certain organizations. However, it may not be suitable for others. Therefore, the forced ranking should only be used after thoroughly analyzing your business needs and requirements.

Summary

As a small business owner, the utilization of business performance reporting cannot be overstated. It is an invaluable tool that provides a clear picture of your business, allowing for data-driven decisions that can lead to sustainable growth and competitive advantage. By effectively measuring and understanding your team’s performance, you’re not only recognizing your employees’ hard work and contributions but also identifying areas for improvement and optimizing processes accordingly. In essence, business performance reporting is crucial for ensuring that your small business not only meets expectations but also has the potential to exceed them, thereby unlocking new opportunities for success in an ever-evolving marketplace. 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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

There are quite a few ways you can note and record your business performance using available data. Using financial ratios, you can quickly assess all areas where your business performance is excelling or underachieving. By evaluating your weaker areas, you’ll know where to improve and where to celebrate your progress. This process will guide you toward continued success.

The other motive for using financial ratios in your business is to see and decide just how beneficial or disadvantageous it will be in one area. You can easily measure the effects of the changes elsewhere in another room.

Monitoring figures closely in your business will help you minimize waste and maximize efficiency, which will, in turn, grow and flourish your business over time.

Where do you get the information to calculate your financial ratios? Bookkeeping helps you provide all the necessary and relevant information from which all your accounts are formulated. The process of bookkeeping is a well-recognized and clearly defined procedure in the fields of business and accounting.

Every transaction, whatever nature (purchase or sale) may be, must be recorded. The process of bookkeeping helps ensure accurate and timely records.

4 Ways to Assess Your Business Performance Using Financial Ratios

Current ratio

The most regular and familiar ratio used is the current ratio. This ratio calculates the ratio of existing assets to the ratio of current liabilities. It helps specify a company’s potential and capacity to pay off its short-term invoices and bills.

If the business has more liabilities than its assets, the current ratio will be less than one. If the company has more help than its liabilities, the current balance will be more than one.

If a business’s current ratio is high, it indicates they have a safety cushion. If the company has more assets than liabilities, its flexibility will increase. If the business has more disadvantages than its assets, it might have to convert its receivable balances and some inventory items into cash, which you may not quickly do.

The business can pay off its debts, collect its due receivables, purchase inventory only when required, and convert its short-term obligations into long-term debts.

Liquidity ratio

You can find liquidity ratios of three types:

1. Current ratio: Calculated when the sum of all the company’s current assets gets divided by their total current liabilities. This ratio measures if you have sufficient assets to pay for your liabilities. If your current ratio is calculated to be two, it means that you have twice as many current assets as your current liabilities.
2. Quick or acid-test ratio: This ratio is calculated by dividing current assets (not including stock) by total current liabilities. If your quick or acid-test ratio shows a result of one, it means your business’s liquidity levels are sufficiently high, which indicates solid financial health.
3. Defensive interval: This ratio is calculated by dividing the total liquid assets by daily operating expenses. The balance will give an estimated idea of how long you can survive your business without any cash flowing in. Usually, you can find it to be somewhere between 30 to 90 days.
4. Solvency ratio: Solvency ratios measure financial stability by calculating a business’s debt in respect to its equity and assets. Any company found to have too much debt might not have enough flexibility to manage its cash flows if interest rates rise or if business conditions start to deteriorate.

The common solvency ratios calculated are debt-to-asset and debt-to-equity. The debt-to-asset balance is found by dividing total debt by total assets. The debt-to-equity ratio can be figured by dividing total debt by total shareholders’ equity. Shareholders’ equity is found by calculating the difference between all total assets and all total liabilities.

Profitability ratio

Profitability ratios calculate the management’s ability to change the amount of sales dollars earned to cash flow and profits. The net profit ratio is a great way to see how profitable your business is. Divide the total profit before tax by the number of net sales to find out your net profit.

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

In our increasingly digital world, where financial transactions are more often performed with the click of a button rather than the exchange of physical cash, the importance of protecting personal financial information cannot be overstated. With instances of cyber theft and financial fraud on the rise, securing personal finance data has become as crucial as locking one’s doors at night. This piece is dedicated to understanding why safeguarding financial information is pivotal and how secure accounts pave the way toward this safety net, supplemented by compelling facts and statistics that underline the urgency of the matter.

Why Protecting Your Financial Information is Critical

At its core, personal financial information encompasses everything from bank account numbers to credit card details and social security numbers. When such sensitive data falls into the wrong hands, the consequences can range from unauthorized transactions and drained bank accounts to the more severe, long-term repercussions of identity theft. The Federal Trade Commission’s report reveals a significant increase in identity theft, with over 1.4 million reported cases in the United States in 2020, almost double the number from the previous year.

The digital era, for all its conveniences, has also opened new avenues for cybercriminals. Phishing attacks—where fraudsters masquerade as legitimate institutions to deceive individuals into providing sensitive information—saw a significant uptick, with the Anti-Phishing Working Group reporting over 200,000 attacks in a single quarter of 2020, marking the highest level since 2016.

The Role of Secure Accounts in Safeguarding Financial Information

Secure accounts stand as the first line of defense in protecting your financial data. In essence, a secure account is any financial account that employs robust security measures to ensure that only authorized users can access it. This includes your bank accounts, credit card accounts, investment accounts, and more. The security measures can vary but generally encompass several key features:

Two-factor authentication (2FA)

2FA, or Two-Factor Authentication, goes beyond a standard password by requiring a second form of verification, such as a code sent to your phone or an authentication app. This significantly lowers the risk of unauthorized access since the odds of a cybercriminal having both your password and your phone are slim.

Encryption

Secure financial institutions use strong encryption to protect the data transmitted between your computer (or phone) and their servers. This ensures that even if data is intercepted, it remains unreadable to the thieves.

Fraud monitoring

Many banks and credit card companies monitor accounts for unusual activity and alert you if something seems amiss. This can help catch fraud early before it spirals.

Secure socket layer (SSL) certificates

Websites with SSL certificates have URLs that start with “https” rather than “http.” This means the data you input is encrypted, adding an additional layer of security.

How to Ensure Your Accounts Are Secure

Opt for institutions that prioritize security

When choosing a bank or credit card company, research their security measures. Are they using up-to-date encryption? Do they offer two-factor authentication? What is their policy on fraud protection?

Enable two-factor authentication

If your financial institution offers 2FA, enable it. This simple step adds a significant layer of security.

Regularly monitor your accounts

Don’t wait for your monthly statement. Regularly check your accounts online for any unauthorized transactions.

Use strong, unique passwords

Avoid common passwords and use a different password for each of your accounts. Consider using a password manager to keep track of them.

Be wary of phishing attempts

Always be skeptical of emails or messages asking for your personal information. When in doubt, contact the institution directly through official channels.

Facts and Statistics to Keep in Mind

• A disturbing find by a cybersecurity firm revealed that over 60% of email-related cyber threats in 2020 involved phishing attempts, highlighting the need for vigilance.
• In 2019, the global cost of cybercrime exceeded $1 trillion, a figure that underscores the economic impact of these activities.
• A study by Pew Research Center found that approximately 64% of Americans have personally experienced a major data breach, which stresses the widespread nature of the problem.

In conclusion, the adage “forewarned is forearmed” aptly applies to protecting one’s personal financial information. Secure accounts offer a comprehensive way to safeguard against the escalating threats of cybercrime, provided individuals take proactive steps to utilize the security features available. Living in the digital age demands not just enjoying its conveniences but also guarding against its perils. By understanding the critical importance of security and taking the necessary precautions, we can all play a part in ensuring our financial safety in this interconnected world. 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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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 tax season has already started, and like every year, we all look for the most comfortable and most practical way to present our tax returns, and why not? Claim the benefits of well-earned money.

But receiving them is not so simple, so we turned to the top high expert in financial matters, to give us practical advice to survive this season and deliver our declaration.

Open a Traditional IRA, and You Could Pay Fewer Taxes

Contributing to an Individual Retirement Account (Traditional IRA) could help you reduce the taxes you pay for income. What does this mean? Suppose your salary is $40,000 per year, and you would spend about $10,000 in taxes. What would happen if you saved $2,000 on a Traditional IRA? Your taxable income is reduced to $38,000, and you would pay $9,500 in taxes or $500 less. The best thing is that you would save $2,000 for your retirement. Also, opening an IRA will help you form the intelligent habit of saving for your retirement. It is automatic, so you do not have to worry about making deposits manually.

Do Not Stress and Declare Your Taxes as Soon as Possible

The IRS has already started accepting tax returns, and you have until the deadline to present yours. Schedule an appointment with your tax advisor as soon as possible. If you will use an online service, be sure to verify that you have your information from last year at hand or already registered in your account. 

The most important thing is that you are already gathering all the forms that you will need. For example, if you had more than one job last year, you must receive at least one form for each one. If your contributions include more than one dependent, you will need to have their social security numbers and dates of birth.

Check that Your W-4 is Up to Date

This season is perfect for evaluating your finances, including tax withholding, which is done automatically from your salary. Please discuss with your tax advisor whether you should amend the W-4 form so that it is updated and only retain what is necessary. Most of the time, you can request this form from your employer or directly from the human resources department.

Plan Well How to Invest Your Refund

If you receive a tax return, take the opportunity to spend on the Stock Exchange. Remember that you worked hard for that money (it is not a gift!) So, you must use it to reduce your debts, and why not? Buy yourself something that you need or want a lot. The important thing is that you dedicate a good percentage, say half, to invest in your future. This simple decision will help you grow your money over time. It may sound not extremely easy, but today with the help of technology, you can open an investment account in just 10 minutes and safely.

Most Frequent Errors

• Deduct expenses such as the purchase of the pantry, home address, telephone, etc. You can only deduct the necessary expenses to conduct a professional activity of your business or company. 
• Deduct costs, purchases, or investments without an invoice, receipt of fees, or lease. The sales notes are not enough; if you use them, the authorities can charge you surcharge fees. 
• Deduct expenses with vouchers that have the name of another person. If you do not have your complete information, it cannot be considered.
• Deduct the purchase of a car and the expenses related to it when it is used personally or as a family. If you want to deduct, it must be for when you work independently and need it to receive income, for example. 
• Pharmacy notes cannot be removed only if they are included in the hospital bill.

What if You Must Refile a Tax Return?

What if you made a mistake in filing your tax return? But fear not. All you must do is to file a recovery again. These amended tax returns must be filed before three years are passed from the original filing date.

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

If you have been recently avoiding IRS notices regarding tax debt, you may want to think about taking numerous steps to resolve it. If not, your business, as well as your personal life, might become a lot more complicated and stressful. Nevertheless, the IRS has huge powers, for instance, to seize assets. Here are some of the steps that can be taken with your IRS tax debt:

Know Where You Stand

Carefully review all your IRS letters along with your tax returns. It should not come as a surprise that the agency might have made some mistakes. This means that you might ultimately reduce your debt. Even though it is usually a good idea to get support from a tax professional, these potential savings you gain might be more than the fees that you are going to pay.

Negotiate the Penalties

Tax penalties can spiral out of hand very quickly. This is the reason why you should act very swiftly when you deal with IRS debt. However, you might also be able to negotiate with your agency to lower and, sometimes, even eliminate the penalties if you show reasonable cause. Examples of this can include serious illness, difficult financial circumstances, and/or the destruction of your home or the business you are running. The IRS, furthermore, has a program that offers relief to those who have gotten in trouble with the agency for the very first time.

Payment Plan for Business Debt

After you know how much you owe, you can easily put together a working plan. One of the most common approaches is to set up an installment agreement. This arrangement might last for as long as six years (all payments should be made on a monthly basis with interest, or the penalties will continue to accrue). Remember, this kind of an agreement is going to put a stop to actions such as liens and levies. If you are indebted to $50,000 or less, then this process is most likely to be forthright. This can be done online; however, you are going to follow the IRS, for instance, having made the tax filings, deposits, and withholdings.

Reduce Business Expenses

You should always look at your operating costs. Figure out the expenses you might be able to deplete versus the services required for the daily operations of the business. For instance, are you going to pay for a subscription that you can make use of infrequently? Are there some professional memberships which you can suspend temporarily until you get the financial house back in order? Consult a professional accountant or use accounting software to predict the financial impact it would have on cutting costs.  

Other Options

Television advertisements often make bold claims about settling IRS debt at “pennies on the dollar,” but this proposition is usually too good to be true. However, the IRS does offer a legitimate option known as the “Offer in Compromise” (OIC), which allows individuals to settle their business debt at a discounted rate. This process involves completing and submitting forms 656 and 433, which require disclosing detailed financial information. The IRS uses this information to determine an amount that is considered reasonable for the debtor to pay without facing severe financial hardship. 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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

Unlock Your Future: Why Finance and Economics Matter

Studying finance with economics equips you with the analytical tools to understand market forces while mastering practical money management skills that drive both career success and personal wealth building. This powerful educational combination teaches you how global economies function at a macro level while providing the financial expertise to make smart investment decisions, evaluate business opportunities, and manage resources effectively.

As the founder and CEO of Complete Controller, I’ve spent over two decades helping businesses navigate complex financial landscapes, and the most successful entrepreneurs I work with share one key trait: they understand both economic theory and financial application. My journey from corporate cubicle to running a cloud-based financial services company taught me that this dual knowledge base creates opportunities others miss. Whether you’re choosing your educational path or seeking to enhance your financial acumen, this guide reveals exactly why combining finance and economics education transforms your earning potential and decision-making capabilities.

Why Should You Consider Studying Finance with Economics?

• Studying finance with economics creates a comprehensive skill set combining market analysis with practical money management capabilities
• Finance focuses on investments and financial planning, while economics examines broader market forces and resource allocation
• This dual knowledge opens doors to high-paying careers in banking, consulting, and corporate leadership
• Graduates develop a theoretical understanding of economic systems, plus hands-on financial decision-making skills
• The combination provides career versatility and builds personal wealth through informed investment choices

The Foundation: Understanding Finance Education and Economic Theory

Finance education delivers practical tools for managing money, investments, and financial planning, while economic theory provides the broader context of how markets function and respond to various forces. Students who master both disciplines gain a competitive edge by analyzing market trends through an economic lens while applying financial principles to real-world scenarios. This integrated approach develops analytical thinking and practical application skills that top employers actively seek.

The synergy between these fields becomes apparent when you see how interest rate changes impact both macroeconomic conditions and individual investment valuations. Students learn to connect Federal Reserve policy decisions with corporate financing choices, understanding how monetary policy ripples through financial markets to affect everything from mortgage rates to stock prices.

Core finance principles every student should master

Time value of money stands as the cornerstone concept in finance education, teaching that a dollar today holds more value than a dollar tomorrow due to earning potential. This principle extends into risk assessment, where students learn to evaluate potential returns against probable losses using statistical models and market data. Portfolio management builds on these foundations, showing how diversification reduces risk while capital budgeting teaches evaluation of long-term investments.

Understanding compound interest demonstrates why starting to save early dramatically impacts long-term wealth accumulation. A 22-year-old investing $200 monthly at 7% annual return accumulates over $525,000 by age 65, while someone starting at 32 reaches only $244,000 with identical contributions.

How economics influences finance in practice

Economic principles manifest throughout financial decision-making, from recognizing how inflation erodes purchasing power to understanding business cycle impacts on investment timing. Supply and demand dynamics directly influence asset prices, while economic indicators like GDP growth and unemployment rates signal market direction changes. This knowledge proves invaluable when analyzing sectors, timing market entry, or adjusting portfolio allocations based on economic forecasts.

Students who grasp these interconnections make better predictions about interest rate movements, currency fluctuations, and sector rotations. They understand why technology stocks surge during economic expansions while utility stocks provide stability during recessions, allowing strategic positioning ahead of market shifts.

Career Opportunities: Where Finance and Economics Converge

The Bureau of Labor Statistics reports economists earned a median annual salary of $115,440 in May 2024, with earnings ranging from $62,340 at the 10th percentile to $212,710 at the 90th percentile. Financial analysts earned a median of $101,350, with 6% projected job growth through 2034. Many positions combining both skill sets command even higher compensation, particularly in investment banking and private equity.

Recent data shows exceptional outcomes for top program graduates. Cornell’s Dyson School undergraduate class of 2024 reported a median base salary of $100,000, while the National Association of Colleges and Employers projects Class of 2025 business graduates will earn $65,276 on average, demonstrating strong market demand for these skills.

High-demand roles for finance and economics graduates

Investment banking analysts leverage both disciplines when valuing companies for mergers and acquisitions, combining economic sector analysis with detailed financial modeling. Management consultants apply economic frameworks to industry problems while using financial analysis to quantify recommendations. Risk managers need economic understanding to predict market downturns alongside financial expertise to hedge exposures effectively.

Corporate strategy positions particularly value this dual background, as professionals must understand competitive dynamics through economic analysis while evaluating strategic options using financial metrics. Private equity associates analyze industry economics to identify investment opportunities, then structure deals using sophisticated financial engineering. These roles typically offer base salaries from $85,000 to $150,000 plus substantial bonuses.

Emerging opportunities in fintech and digital finance

Financial technology companies actively recruit graduates who understand traditional finance alongside economic market dynamics. These firms need professionals who can design algorithmic trading strategies based on economic indicators or develop robo-advisory platforms that adjust portfolios according to economic conditions. Cryptocurrency and blockchain ventures seek talent that grasps both monetary economics and financial innovation.

Fintech roles often provide equity compensation alongside competitive salaries, creating wealth-building opportunities beyond traditional finance careers. Data scientists at financial firms now earn $120,000+ starting salaries by combining economic modeling with machine learning applications, demonstrating how technology amplifies the value of finance-economics knowledge.

Personal Financial Empowerment Through Combined Knowledge

Research from the National Bureau of Economic Research found that students with double majors experience a 56% reduction in income fluctuations compared to single majors. When majors span unrelated fields, protection against earnings shocks increases to 64%. This risk reduction translates directly into personal financial stability and accelerated wealth accumulation over careers.

Beyond income stability, this educational combination transforms personal financial decision-making. Graduates make smarter choices about mortgages by understanding interest rate cycles, optimize tax strategies through economic analysis of policy changes, and time major purchases based on economic indicators. They evaluate job offers considering both compensation packages and company economic positioning, leading to better long-term career outcomes.

Case study: The student loan decision framework

FINRA Foundation research shows that students scoring at least 4 out of 5 on basic financial literacy tests were 41% less likely to fall behind on student loan payments. This data underscores how financial education directly improves debt management outcomes. Sarah Chen, a recent Georgetown Financial Economics graduate, exemplified this principle by analyzing career earnings projections against loan structures.

She chose a program offering strong placement rates over higher-ranked but costlier alternatives, graduated with $30,000 in loans versus the $47,000 average, and secured a $95,000 Morgan Stanley position. Her economic analysis revealed that starting salary matters less than five-year earning trajectories, informing her decision to choose high-growth potential over immediate compensation.

Building wealth through informed decision-making

Combined finance-economics knowledge creates compound advantages throughout life. Understanding economic cycles helps time home purchases during buyer’s markets, while financial analysis skills evaluate mortgage options effectively. Investment decisions improve through recognizing economic sector rotations and applying portfolio theory. Tax planning benefits from understanding both financial optimization strategies and economic policy impacts.

These advantages accumulate significantly over time. Individuals with strong financial-economic foundations typically begin investing 5-7 years earlier than peers, choose more appropriate risk levels, and avoid costly mistakes like panic selling during downturns. The result often means retirement accounts 40-60% larger than those without this educational background.

Choosing Your Path: Finance vs Economics Degree Considerations

Pure finance programs emphasize practical applications, including financial modeling, valuation techniques, and investment analysis. Economics programs provide broader theoretical foundations covering market structures, policy analysis, and econometric methods. However, integrated programs combining both disciplines offer the most comprehensive preparation for modern careers.

Consider your preferred work environment when choosing. Finance-heavy programs suit those drawn to fast-paced trading floors and deal-making environments. Economics-focused paths appeal to those interested in policy work or economic research. Integrated programs work best for students wanting maximum flexibility and diverse career options.

Program selection and academic planning

Top universities now offer specialized financial economics programs addressing employer demands for dual-skilled professionals. Georgetown’s M.S. in Financial Economics combines rigorous economic theory with advanced finance applications. These programs typically include econometrics for data analysis, behavioral economics for understanding market psychology, and financial engineering for structuring complex instruments.

• Core requirements should include microeconomics, macroeconomics, corporate finance, and investments
• Quantitative skills through statistics, econometrics, and financial modeling prove essential
• Electives in behavioral finance, international economics, and derivatives expand expertise
• Practical experience via internships or research projects applies classroom learning
• Technology skills in Python, R, or MATLAB increasingly differentiate candidates

Skills development and professional preparation

Technical competencies form the foundation, but communication skills determine career trajectories. Successful professionals explain complex analyses to diverse audiences, from board members to clients. Develop these abilities through class presentations, writing assignments, and leadership roles in finance clubs.

Many programs incorporate real-world projects where students analyze actual companies or economic situations. Seek opportunities to work with real data, whether through professor research assistance, case competitions, or independent projects. Employers value candidates who demonstrate practical application of theoretical knowledge before graduation.

Real-World Applications and Success Stories

At Complete Controller, I’ve witnessed how finance and economics knowledge drive entrepreneurial success. Marcus Rodriguez, one of our clients, identified an undervalued opportunity in sustainable packaging by analyzing economic shifts toward environmental consciousness alongside financial metrics showing market gaps. His economic analysis revealed growing demand while financial modeling demonstrated profitable unit economics. Within four years, his company reached $10 million in revenue by staying ahead of both economic trends and financial fundamentals.

Nikolaos Papoulias, a Toulouse School of Economics graduate, leveraged interdisciplinary education during the Ukraine crisis and global energy disruptions. His program’s focus on empirical projects and machine learning prepared him for analyzing complex global risks. He secured a European Central Bank traineeship in General Market Operations, showing how combined economics-finance knowledge opens prestigious policy positions.

Industry impact and market trends

Markets grow increasingly complex and interconnected, amplifying demand for professionals who bridge economic analysis and financial application. Global supply chain disruptions require understanding both macroeconomic forces and corporate financial impacts. Climate change creates new risk factors needing economic modeling and financial innovation. Digital currencies challenge traditional monetary theory while creating new financial opportunities.

Companies now seek employees who analyze these multifaceted challenges holistically. Management consulting firms report that candidates with both skill sets receive 30% more interview invitations and command 15-20% salary premiums. Investment firms prioritize analysts who connect macroeconomic trends with security selection, recognizing that narrow expertise limits effectiveness in dynamic markets.

Your Next Steps: Getting Started with Finance and Economics

Success begins with strategic planning and consistent execution. Research programs offering integrated curricula or strong departments in both areas. Contact current students and recent graduates about their experiences. Many universities allow prospective students to attend classes or speak with professors about curriculum design.

Start building relevant experience immediately through investment clubs, economic research positions, or finance internships. Read publications like The Economist and Wall Street Journal to understand real-world applications. Follow Federal Reserve announcements and analyze market reactions. Open a brokerage account to practice investment analysis using economic principles. Most importantly, begin networking with professionals whose careers interest you.

I built Complete Controller by recognizing how technology could transform financial services delivery, but success required understanding both economic forces reshaping business and financial principles driving profitability. Today’s opportunities exceed anything available when I started 20 years ago. Whether you aim for Wall Street, Silicon Valley, or Main Street entrepreneurship, combining finance and economics knowledge provides your competitive edge. Visit Complete Controller to discover how we help businesses leverage financial intelligence for growth and learn about career opportunities with our team.

Frequently Asked Questions About Studying Finance with Economics

What’s the difference between studying finance versus economics?

Finance focuses on money management, investments, and financial decision-making, while economics examines broader market forces and resource allocation. Studying both provides practical financial skills plus theoretical understanding of market dynamics.

What career opportunities are available with a finance and economics background?

Graduates can pursue roles in investment banking, financial consulting, corporate finance, risk management, economic research, policy analysis, and financial planning, with median salaries typically ranging from $85,000 to over $150,000.

Do I need a graduate degree to succeed in finance and economics?

While many entry-level positions accept bachelor’s degrees, graduate education often accelerates career advancement and increases earning potential, particularly for specialized roles in investment banking or economic consulting.

How can finance and economics knowledge help with personal money management?

This education provides tools for better budgeting, investment decisions, debt management, and long-term financial planning, typically resulting in higher personal wealth accumulation over time.

Is the job market strong for finance and economics graduates?

Yes, employment for financial analysts is projected to grow 6% through 2034, faster than average, while economist positions offer strong compensation despite slower growth, and many hybrid roles are emerging in fintech and consulting.

Sources

• American Economic Association. (2024). “Career Earnings.” Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook. www.bls.gov/ooh/life-physical-and-social-science/economists.html
• Bureau of Labor Statistics. (2024). “Economists: Occupational Outlook Handbook.” U.S. Department of Labor. www.bls.gov/ooh/economists
• Bureau of Labor Statistics. (2024). “Financial Analysts: Occupational Outlook Handbook.” U.S. Department of Labor. www.bls.gov/ooh/financial-analysts
• Cornell Dyson School. (2024). “Undergraduate Applied Economics Career Statistics.” Cornell University. dyson.cornell.edu/careers/statistics
• Economics Department, University of Louisiana. (2024). “What can I do with an economics/finance degree?” Louisiana University Economics Programs. economics.louisiana.edu/careers
• Federal Reserve Education. “Personal Financial Education Resources.” federalreserveeducation.org
• FINRA Foundation. (2024). “National Financial Capability Study.” finra.org/capability
• Georgia Futures. (2024). “Why is Financial Literacy Important for young adults?” Georgia Futures Financial Education. gafutures.org
• Georgetown University. (2024). “Curriculum – M.S. Financial Economics.” Georgetown University Graduate Programs. georgetown.edu/msfe
• Hanks, A.S., et al. (2024). “Do double majors face less risk? An analysis of human capital diversification.” National Bureau of Economic Research, Working Paper 32095.
• IE University. (2024). “How can an economics degree benefit a career in finance?” IE University Career Development. ie.edu/careers
• iGrad Financial Wellness. (2024). “The Impact of Financial Literacy Programs on University Default Rates.” igrad.com/financialliteracy
• Investopedia. (2024). “Economic Theory.” investopedia.com/terms/e/economic-theory.asp
• National Association of Colleges and Employers (NACE). (2024). “Winter 2024 Salary Survey.” naceweb.org/salary-survey
• National University. (2024). “Economics vs. Finance Degree: Which Should You Choose?” National University Career Guidance. nu.edu/careers
• Northeastern University. (2024). “10 Economics Careers To Power Your Future.” Northeastern University Graduate Programs. northeastern.edu/graduate
• Study International. (2024). “Inspiring success stories from Toulouse School of Economics.” studyinternational.com
• University of North Dakota. (2024). “Applied Economics vs Financial Economics: Key Differences.” University of North Dakota Career Development. und.edu/economics

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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. Reviewed By: Brittany McMillen

Brittany McMillen

Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.

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