Author: Complete Controller

One of the most basic ways to understand the economy is to understand what affects it or stops its growth while seeing it from a local, regional, and global scale as well. There are many, many types of economy; it depends on the country and who its ruler is. It also depends on your curiosity and in which part of the group or any part you are interested. Some people are interested in the regional economy, and some people are interested global economy. There are many differences between regional and international economies, but some parts where regional and global economies will be affected by each other. Some nations or countries can affect the global economy when their economy is concerned, some nations such as America, China, India, Saudi Arabia, etc. There are many reasons to understand the economy.

An economy hack is when you can devise a fun shortcut or a clever trick to make life a little better, easier, or more fun. Save and Place today gives you six live financial hacks that work – six super-smart financial hacks!

Turn your back on the pros!

Do you want to save in stocks but do not have the time and knowledge to do the fundamental analysis that needs to be done? The “boring” way is, of course, to buy funds. But if you want to save directly in shares… one way is to seek inspiration from the fund managers, the professionals!

Let us take the bank https://forvaltarbrevet.com/swedbank-robur-ny-teknik-mitt-omdome-2020/ fund as an example. In five years, the fund has risen an impressive 300%! What is behind this fantastic development? Look at the list of the ten most extensive holdings (which almost all funds present) and look for your inspiration for the next stock purchase there!

Do not get blown away by the hotel price!

We take a hotel booking as an example, but you can apply this tip to many other things, such as rental cars and cruises. Imagine that you are going to travel somewhere, you are out in good time with your booking. How do you get the hotel at the right price?

The hotel’s price is a little daily – far left until the arrival date, and the price can be both high and low. A couple of days before arrival, the price can be very high – or very cheap. Later, as the journey approaches, the price can go up and down depending on the booking mode. How do you book at the right price?

The solution is to book a cancelable room well in advance at a price you would be happy to pay. Then check once a week if the price has gone up or down – if the room has become cheaper, you can cancel the room and rebook! If not, you keep the reservation. Finally, check the price one to three days before arrival if it has become much cheaper. Then you also know if you will be on your way and can book a non-cancellable room.

Cancel the online order

Are you going to buy something online? Do you have plenty of time? A trick can be to complete the entire ordering process, where you fill in your name, address, and most importantly: your email address – but you do not press pay! A lot of online stores, mainly foreign, can then capture your data and send you a discount code by email to get you to complete the purchase. It can be a 5% discount, 10% discount, or an offer of free shipping. Over the years, we have saved decent sums in this way. However, remember that it does not work every time, but once in 10, maybe.

Points on a credit card

Credit card points might be the most effective strategy to earn more and save money when finding inexpensive flights and other travel offers. Depending on the card you use, there may be a variety of methods to earn and redeem your points – which may add up to significant discounts if you travel frequently.

Credit card points might be the most effective strategy to earn more and save money when finding inexpensive flights and other travel offers.

Make use of loyalty programs

Meanwhile, check whether the station you frequent has a rewards or loyalty card. If you must charge it, obtain a card that gives you points for buying petrol. Some local grocery loyalty programs also provide gas rewards, which you can redeem for gas when you’ve earned enough points. Check out resale sites for gift cards. You might be able to get a $100 gas card for $90, giving you $10 in free gas. 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.

Many small business owners may decide to use debt to finance their businesses rather than attract additional investors after making personal capital commitments. Long-term debt financing, when used effectively, offers several benefits to both the firm and the owner.

Debt financing occurs when a corporation takes on debt to raise funds necessary to continue operating. Debt is acquired when a business owner accepts a loan and agrees to repay the money over time with interest. Every business requires financing; without it, the company would be unable to continue operating.

Short-term debt financing

Short-term and long-term debt financing are the two types of debt financing available. Short-term debt financing is an agreement between the lender and the borrower to repay the total amount borrowed, plus interest, within a year. Short-term debt financing is typically utilized to pay for equipment and purchase any inventory or supplies essential to the company’s daily operations.

Long-term debt financing

Long-term debt financing is typically used to buy a building, property, or other expensive equipment or machinery required to run or expand a firm. Long-term debt is repaid over a more extended period than short-term debt. Long-term debt financing is still a loan with the guarantee of repayment plus interest from a bank or financial institution rather than being used in the company’s day-to-day operations.

Advantage

There are a few advantages to debt financing. First and foremost, it is one of the few alternatives to obtain rapid cash for your business without sacrificing assets. When you choose debt financing, you keep ownership of your company, and the lender has no legal authority over how it is run. The fact that debt finance loans are tax-deductible is another significant benefit. You can deduct your payments and interest from your company’s income tax by treating the loan as an expense.

Preserve operational cash flow

Most banks offer three to seven-year long-term loans, a common source of long-term debt for small firms. The Small Business Administration (SBA) can guarantee loans for up to ten years. When a company utilizes these funds for capital renovations, equipment purchases, or supply purchases, it is not using operating cash flow. When a company employs long-term debt to fund off-balance-sheet assets like employees, it effectively leverages its profits to expand the company.

Provides leverage for owner’s equity

For its owners, a firm generates money and wealth. The owner leverages their investment by leveraging long-term debt to improve their returns. The business has $300,000 to invest if an owner puts up $100,000 in cash and takes up a $200,000 term loan. The owners’ monetary return would be $50,000, and their return on equity would be 50% if the business makes a net income of $150,000 for the year. On the other hand, if the owner had invested US$300,000, the return on equity would be only 16.7%.

No or minimal interference from inverters

A company’s long-term debt reduces the need for additional financing from possible business partners or investors. Lenders have no business dealing with you if your loans are in good standing. Investors have decision-making rights and opinions, and they can have a lot of influence on how a company is run. You can prevent this potential interference if you have no outside investors.

Build business credit

You can lessen your dependency on personal credit by building your business credit. You boost your chances of benefiting from the loan’s additional contribution if you acquire long-term debt financing. Even SBA-backed or privately guaranteed loans can assist your company in establishing credit on its own. It benefits you personally while also increasing your company’s value as a distinct entity that can be sold.

Additional benefits

Fixed interest rates are standard in long-term debt, resulting in regular and predictable monthly payments. Because of this dependability, budgeting the operating income required to make the payments is simple. Furthermore, the business can deduct all interest paid on the debt.

There are some disadvantages of Debt Financing as well, such as:

Disadvantages

While taking out a loan to run your business isn’t regarded as irresponsible, having a lot of debt can turn off potential investors. Furthermore, if your business fails, you may still be personally liable for repaying the loan, which may result in the loss of any collateral if you cannot do so. Every loan you take out affects your credit score, and continuing to take out could harm your credit score, raising interest rates and making future loans more difficult to obtain.

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.

As mentioned regularly, a reform of inheritance tax should ultimately not take place as this subject is flammable. However, with the evolution of family structures, the aging of the population, and the valuation of heritage due to the soaring price of stone, the estate becomes more complex to manage.

In the absence of a will or special provisions, the law specifies who will be the heirs in succession. There are many rules for determining who the heirs are. Whether the inheritance is for a single person, a brother, a surviving spouse, with or without a will, etc. Here are some questions to ask yourself when you are in the process of inheriting.

There are many complications regarding the part of the inheritance, which can be a very tricky matter sometimes. One of the best pieces of advice anyone can give you is to follow the laws. Each step by step, so if some false claimer comes and speaks to be the owner, then you would have completed the laws step by step with every document through which you can prove that you are the valid and proper owner of the property. A few points are written below, and these steps should be considered the facts that can help you understand the facts of inheritance. We cannot be sure whether these facts will work for you or they would not because we all live in different states, and every state has other laws, so it is also better to know them.

Has the succession been organized upstream?

On the death of a person, it is essential to know whether the latter took special measures during his lifetime to organize the transmission of his assets to protect his spouse or favor a loved one. These specific measures will have taken the form of donations of all kinds, a change in the marriage contract, and a will.

In general, the notary in charge of the succession takes these steps. If in the past, this professional has not taken care of performing these acts on behalf of his client himself, he queries the central file of last wills provisions, commonly called the wills file. “These legal choices thus result in a precise organization of the succession with civil and fiscal consequences.”

What does inheritance tax cover?

It is a tax paid to the state on the part of the inheritor—the amount of these rights changes from 5% to 45%. Depending on the quality of the heir, deductions reduce the amount of these withdrawals.

How long do we have to pay these fees?

In practice, many inheritances do not give rise to the payment of duties. However, you must file a declaration of inheritance six months from the date of death. Because it takes several weeks to collect all the papers and documents of the deceased, identify the heirs, and have time to go back and forth with the bank and insurance companies if life insurance contracts exist.

Because of the net inheritance assets, it will be necessary to know whether the heirs agree to initiate the transfer of real estate that could help with the settlement of rights “. Note that “there is solidarity between the heirs when paying for these rights,” she adds.

Can we give up an inheritance?

Several reasons can lead to the waiver. First, there is the existence of large debts left by the deceased. “There is one case when your assets are less than your wealth. However, the heir can accept up to the net assets, which means that he does not pay debts that exceed the value of the deceased’s property, ” explained one of the notaries.

Does the deceased write a will?

Whether the deceased write a will or not, there is some law that defines the order of heirs as mentioned below:

• If the deceased had no children and was not married, he could pass all his property on to people of his choice.
• If the deceased had children (whether married or not), his freedom is somewhat limited as he cannot disinherit them.
• If the deceased was married without children, it is the spouse who you cannot disinherit.

Conclusion

Inheritance involves a complex equation, where everyone’s legitimate aspiration to protect their loved ones collides with the collective hope for a more just society. It is an intimate subject, touching on death and the family, the special bond between parents and children, on transmission between generations. But it is also a significant economic, social, and political issue. 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.

Make a vacation plan in time

Easy to use and effective! People who wait till the last minute to plan risk being compelled to vacation during the most expensive time of the year. Especially if you’re traveling with a group, consider what kind of vacation you want, where you want to travel, and how much money you have.

Go ‘out of the box

Have you considered the Czech Republic or Turkey as winter sports destinations? The Costa del Sol in Spain, a Greek island, or the French Côte d’Azur are all lovely vacation spots, but they may be pretty touristy and pricey. This can significantly affect your wallet once you venture off the main path. Prices are lower, especially in Eastern Europe, and there are still many ‘undiscovered’ diamonds. The coast of Montenegro and the mystical Transylvania are the first two steps.

Have a holiday in your own country

A vacation in your nation saves you a lot of money on travel expenses. In addition, the Netherlands has a lot of lovely areas. There are lots to see and do, from the undulating hills in the south to the mudflats in the north. On anwb.nl, you’ll find province-specific suggestions, frequently with attractive packages or savings on day trips. Alternatively, look into the holidays of your own ANWB country. The following holds: the longer you’ve been a member, the more benefits you’ll receive.

Opt for a journey by train

Rail connectivity to large cities in Belgium, France, and Germany is particularly convenient. Despite being somewhat more expensive than taking the bus, it is frequently less costly than flying. Furthermore, you may reach numerous European cities in record time.

Rent a car for a week

Would you wish to rent a car for a few days and go exploring? Don’t hesitate to contact us for a quote every week. Surprisingly, this can sometimes be less expensive than a three-day auto hire. As a budget traveler, choose the smallest and most basic model. The temporary four-sole wheeler’s purpose is to get you from point A to point B as quickly as possible, not bolster your ego. A further benefit is that if that model is unavailable, the replacement vehicle is an upgrade in any case.

Book your plane ticket smartly: on Sunday!

Are you still traveling by plane? Even so, you can keep a lot of money. Book on Sundays, for example. Expedia and Airlines Reporting Corporation examined a billion flights. According to this study, flights purchased on Sundays are the cheapest.

Departure outside the weekend

Maybe you are accustomed to scheduling a vacation on a Saturday or Sunday. On the other hand, more and more hotels and campgrounds are accepting weekday reservations. It can save tens of dollars and is an excellent strategy to avoid Black Saturdays, especially during peak times. 

Go all inclusive

This is the perfect way to keep your holiday budget under control. You know what the trip will cost and what you will lose on the spot. 

Rent a house

Will you prefer not to have visitors in your home? Then you have the option of renting an apartment or a vacation property. This is usually less expensive than staying in a hotel or a guest house. Especially if you’re touring in a group of more than two, you can also hold money by cooking your feasts.

Go camping

Once you’ve invested in a tent or caravan, you’ll be able to enjoy your own ‘home’ on vacation for years to come. It may not be as luxurious as a hotel or vacation house, but it will save you money. Furthermore, sanitary facilities can often be rented so that you do not have to walk to the toilet building with the toilet paper under your arm in full view of the entire campsite.

Book your hotel last minute

Do you like to stay in a hotel? Then wait for as long as you can. According to REIZEN Magazine’s research, booking last-minute is generally less expensive than booking two months in advance. The proposal is substantially more qualified right before departure. As a result, if you want a choice, you’ll have to pay extra. Even if your hotel’s website isn’t always the cheapest, it’s still a good idea to check prices there. It’s also worth noting that even if general hotel booking platforms are out of stock, hotels frequently still have rooms available.

Book a package

Booking a package for excursions in the Netherlands and the surrounding area is frequently attractive from a financial standpoint. Consider a weekend stay with dinners and outings, museum entry, a rented bicycle, etc. 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.

It is feasible to find decent accommodation without destroying one’s finances. If you’re in the market for a property, you may be able to negotiate a lower price. If you want to buy a house, you should go to the bank and see your mortgage options. If your request is granted, you can look at what is available in your pricing range. When you’ve discovered something that works for you, hit, enter the bidding, and pray for the best.

Some who aspire to own a home understand how tough it is to obtain credit approval for a mortgage. The funding may not be released even if all the paperwork is in order. It is insufficient to have a comparable wage to the value of the home you wish to purchase. Banks and lenders use other criteria to determine whether or not to grant funding in addition to income verification.

We’ve compiled a list of helpful hints for anyone looking to increase their chances of getting a mortgage. The credit score could be one of such criteria. Many individuals also ask if a minimum score is required to receive assistance. Because the score is simply one of the items examined, this number does not exist.

Conventional Mortgage

A conventional mortgage is the most common sort of home financing. Most money lenders, such as banks and credit unions, usually require a solid credit score. A credit score of at least 650 and a debt-to-income ratio of less than 40% are needed. Down payments vary but putting less than 20% down on a home necessitates private mortgage insurance.

Conventional loans, on average, have higher upfront charges but lower borrowing costs over the life of the loan. They’re ideal for buyers with a strong credit score, job history, and a sizable savings account.

Check your credit score

If you don’t know where your credit score is, it’s pretty easy to check it for free these days. You can also check your credit score online with only a few clicks, even though you will receive the complete report and need to update your finances to make progress. Buying a home is, for most people, the most substantial purchase they will ever make. If you pay off your loan on time and manage your other debt responsibly, you’ll most likely have a good credit score, which will help you get a low to refinance cost.

Changes in your financial history can also be helpful

If you borrowed nearly 90% for your home, your loan-to-value ratio – or LTV – may be significantly lower today, depending on how long you had it and how much equity you had built up. For example, if your home costs $100,000 and you owe $70,000, your loan to value ratio will be 70%. You will be at risk if your LTV ratio goes below a specific level. It would help if you examined your savings while financing your home so that you can borrow less from lenders and pay less interest.

Ready to refinance? Here’s what to do

It would help if you looked into mortgage lending whenever you wish to refinance your home. It is critical to shop around for the best rate by comparing lending rates from several lenders. It has been reported that comparing at least five loan offers saves thousands of dollars over time compared to a loan that jumps on the first offer without being seen by anyone else.

Unless you were starving during the epidemics, you probably didn’t spend much money on huge items or exotic vacations. In other words, if you haven’t maxed out your credit card, your credit score will be higher, making obtaining a mortgage for your home more accessible. Another way to save money on your home bills is to shop for the best homeowner’s insurance rates. Compare shop to obtain the best deal, just like you did for borrowing costs.

Search for information to choose the best financing

For house financing, there are provisions and basic norms. However, there are specific concerns with the buyer that you can negotiate. As a result, customers seeking favorable terms must learn about the most advantageous financing options.

After all, this is a long-term investment, and any advantage might make a significant difference.

Conclusion

Financing your home is a significant decision in your life because it is one of the steps that require a considerable investment, even if you will be getting a loan from a bank or lender. You will still need to make an initial deposit. The most crucial thing is that you will be residing here. As a result, always take your time and make informed decisions.

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.

Invest in stocks

Once you buy stock, you become a partner in a limited company, and all shareholders own the company together. The shares are regularly used as a source of capital for companies looking to sell their stock and attract new investors.

The corporation makes money only when the shares are sold for the first time on the stock exchange. In general, stock market trading with used shares has little impact on businesses, except that the share price may affect corporate value in the long run, affecting the ability to borrow money, sell shares at a higher or lower price, etc. 

Always do your analysis before buying shares

Always choose firms you believe will earn a profit and perform well in the future when investing in stocks. You can use historical results and projected analyses for the firm and the industry in which it works to form a picture of the company. You then conduct your research, which is the foundation for your equity investment.

Invest in Mutual Funds

Any fund is a collection of many securities, most commonly shares. When you put money into a mutual fund, you get fund units, a portion of the company’s total assets, but you don’t get individual shares or become partners in the firms the fund invests in.

When a fund invests in a company’s stock, you become an indirect owner, but instead of buying the store directly, you delegate that responsibility to the fund manager. Of course, the ultimate goal is for the money to grow over time. You can find more information on funds here.

Invest in gold and commodities

Historically, investing in commodities has been an excellent method to protect against economic downturns. When the stock market is volatile, many things tend to sustain or even increase in value.

As a result, investors frequently include precious metals in their portfolios as a guarantee that the portfolio will never become utterly useless. A decent rule of thumb is that precious metals should account for roughly 10% of the total value. You can learn more here if you wish to buy and invest in gold.

Gold and silver are the metals of choice most of the time, but gold holds a particular place for various reasons:

• Because gold is found in fewer quantities in the ground than silver, it has traditionally been resistant to inflation. That is, gold does not lose value in the same way that money does, and it does not lose weight when the rest of the economy is struggling. 
• Gold, on the other hand, tends to appreciate balancing out a portfolio when other investments are dropping during times of crisis.

Invest in exchange-traded funds (ETFs)

Any exchange-traded fund (or ETF in English) varies from traditional funds in that it is listed on a stock exchange and can be exchanged many times on the same day.

ETFs are exchanged and priced in real-time, whereas traditional funds are only priced once daily. ETFs typically track the performance of an underlying asset, which could be a commodity, a stock index, or a currency.

Compared to actively managed equity funds, the management charge is frequently lower. On the other hand, investing often entails a brokerage fee, similar to shares, which is rarely the case when purchasing classic funds.

Invest in Bonds

Bonds are a type of loan that states or businesses sell to investors rather than taking out a bank loan. When you acquire a bond, you effectively become a lender to the bond’s issuer. The state or firm pays you interest as a lender during the bond term.

Bonds have the distinct advantage that when the loan matures, the investor often receives 100% of the original investment, making them safe and dependable investments.

Diversification throughout time, such as in monthly savings, is an often-overlooked dimension to consider. Regular purchases have various advantages because you can buy in both ups and downs, resulting in equal portfolio development.

In other words, regular purchases at the bottom counteract the harmful effect of purchasing at the top. You escape the headache of trying to time the market, which is extremely difficult to achieve. A more uniform development and purchase price imply you’re less likely to lose a significant portion of your capital on the day you want to remove it.

It is essential to know these basics before allocating your investments.

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 gross and net margin are accounting concepts that describe entirely different realities despite their similar names. We’ll learn how to distinguish between the two.

What is the definition of gross margin?

The gross margin is a percentage generated from an equation that displays the amount of money available after subtracting the cost of goods sold, or the amount of money it costs your organization to create the items or services you sell, from total revenue.

The cost of purchase, transformation, and delivery of an item or service are all inextricably tied to the concept of gross margin. When dealing with suppliers or customers, it’s a great signal.

What is the definition of net margin?

Your net margin is a percentage determined from an equation that displays the amount of money left over after removing all your operating expenditures and other expenses, such as taxes and interest payments, from your gross profit (revenue minus cost of products). Relating debts

Net margin, often known as net income, is a vital accounting indicator that helps a company calculate how much money it will make after all of its expenses have been paid.

The net margin is a great way to get a big picture of how much money you make on each sale.

Let’s look at the characteristics and differences between gross and net margins in greater detail.

The significance of gross margin

Knowing your gross margin allows you to track profitability measures and assess and understand how effectively your firm uses its raw materials and labor to generate the items and services it offers.

Because many businesses have struggled financially due to increased gross profit but dropping gross profit margins, keeping an eye on profitability trends is critical.

For example, a corporation makes $500,000 in revenue and $375,000 in gross profit. Let’s say you double your income to $1 million in a year and improve your gross profit to $600,000. “Wow!” might be the initial reaction. We’ve virtually doubled our revenue and nearly doubled our gross profit!” However, if you don’t keep an eye on the margins, you may miss some of the stories.

In this case, the company had a gross profit margin of 75% (375,000 / 500,000 =.75) after generating $500,000 in revenue and $375,000 in gross profit.

Their gross profit margin fell to 60% (600,000 / 1 million) when they quadrupled revenue to $1 million and boosted gross profit to $600,000.

This is a 15% loss in gross profit, which means you’ll have less money to meet all your other expenses, which will also rise when your income increases.

If this pattern continues, the company will be in difficulty, which is one of the advantages of having a financial dashboard that allows you to see this data more clearly.

The significance of net margin

To keep track of your company’s profitability and improve it, you’ll need to know how to calculate net margin.

You’ll need to grow revenue, cut costs, or mix the two to boost your profitability. Knowing your net margin gives you a clearer picture of your company’s overhead in sales, which can help you achieve either aim.

Cutting costs may be the most straightforward way to boost profits if you’re in a competitive market.

Another reason to keep an eye on your net margin is that an increase in revenue does not always imply a profit increase.

Net margin allows you to concentrate on the financial outcome of your company’s efforts to manufacture and sell items or services at the bottom line. Remember that having a cost dashboard will allow you to examine the big picture of the company’s finances.

Profit margins, on the other hand, may differ by industry. Retailers make up for their lower profit margins with more significant sales volumes. Therefore growing firms have a higher profit margin than retail businesses.

Particular Points to Consider

Investors and analysts often use a gross and net profit margin to assess a company’s management’s ability to make a profit relative to the costs of providing its goods and services. Examining companies’ margins within the same industry and throughout different periods helps identify patterns.

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.

It happened to me too. When I had just quit my job as a bank manager and started as a self-employed in the lettering business, everything went quickly and smoothly with my company. And suddenly, I could not understand why everything got stuck.

Luckily, I did not stop there. On the contrary, I continued to work – but in a unique way. I changed my business. And now—having worked with hundreds of entrepreneurs—I have pinpointed the top four reasons a business stall.

Your way of working hinders your growth

When I started in the world of lettering, my environment did not understand. My friends and acquaintances said I would have to work a lot and not earn much. My family thought so too.

And indeed: I could not make millions, no matter how hard I worked. After all, there are twenty-four hours in a day. That fact does not change, even by working harder. He is mainly concerned with working differently.

When I tell other entrepreneurs this, they question it.

“Yeah, but that does not work in my business.”

“That might work in the lettering in which you were active, but ‘working differently,’ that does not work for me!”

Of course, in some companies, this is less obvious than in others.

But ‘less obvious’ does not mean ‘impossible’!

Boredom strikes

It is amazing how many entrepreneurs get bored over time. Maybe you are in such a period?

Boredom makes you stop thinking about your business; you contain marketing. You no longer focus on the main thing. The growth of your company is on the back burner.

It seems you would be better off starting a new business at such a moment. Or you become interested in setting up a new project instead of finishing or optimizing your existing project.

I understand that. I have had those feelings too.

But you are starting something new because you are bored? That is pure madness!

Imagine:

You have an ATM that is constantly spitting out $100 bills. Then why would you try to rewire it?

Because no matter how you turn it, that is what entrepreneurs do when they take the focus away from their main money machine.

Your growth is stagnant due to a lack of people

If you read the theories of some marketers, you would almost think every entrepreneur makes easy money. They claim you should only do internet marketing (Facebook, LinkedIn). Then the money. To be honest: I know entrepreneurs who fit into this picture. But they are the peculiarity to the rule.

Almost all companies need employees to grow. Or at least outsourced employees, people who work part-time for you, freelancers.

If your growth has stalled, then the time may be suitable to invest in an employee (or two) to accelerate growth.

An employee is risky. For many sole traders, a first employee is a deterrent. That makes sense because when you invest in employees, your wage costs go up, and your short-term returns go down.

But you know? You are an entrepreneur. This is simply part of the job. Successful entrepreneurs take on a (reasoned) risk. And no less than 99.99% of companies need employees to earn money.

An explains how you too will find that A-player who will stay with your team.

You focus too much on externalities to grow

While writing this Business Tip, An and I are busy planning our marketing strategy for next year. There are some innovative marketing tools on the list.

But we do not just focus on external ways to grow our business.

There is still a lot on the agenda. We are looking into how we can improve the performance of our employees and how the number of referrals can increase.

We generate millions in new revenue and lower costs by improving performance by focusing on internal improvements.

You are missing tons of dollars if you do not think about how to manage your internal issues better.

Growing your business is not always easy. But at the exact time, it can be pretty straightforward. You have to want to invest.

Invest in yourself, in the education of your company.

Invest in your business by hiring the right people.

Do all this while focusing on improving your systems and procedures.

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.

Ratios provide more information about, for example, a company’s profitability, efficiency, and liquidity than absolute amounts.

Profitability

A company’s profitability is a good indicator of whether a company is financially healthy or not. Companies strive to realize the highest possible profit. In theory and practice, we come across the following ratios and critical figures for determining the profitability of a company:

• Added value; the added weight of a company is equal to the turnover minus the direct purchase costs of the turnover. The added value must be positive (> 0). If the added value is negative, it is better to stop your company immediately. Because then the purchase price of the turnover is higher than the selling price.
• Gross profit margin; gross profit margin is gross profit divided by sales. The gross profit margin is an excellent indicator to compare your performance over time. The added value is compared to the turnover in the gross profit margin. The gross profit margin varies significantly by sector. In sectors where the purchase value of sales is high, such as trading companies, the gross profit margin will be substantially lower than in manufacturing or service companies.
• Net profit; the net profit is also an important indicator. Net profit is equal to gross margin minus operating costs. It should be clear that net profit is an important indicator. The net profit must be positive over the years.
• Net profit margin; the net profit margin shows how well a company can turn sales into a profit. The profit percentage is calculated by dividing the net profit by the turnover.
• Profitability of Total Assets (RTV); equals earnings before interest and taxes divided by total capital employed. It shows the percentage of profit over the entire invested capital. This way, you can easily compare the performance of companies within a particular sector.
• Return on Equity (REV); equals net profit divided by shareholders’ equity. It is difficult to say how high the profitability (expressed in %) should be. The return on equity must, in any case, be higher than the market interest rate. Otherwise, it is better just to put the money in the bank because this will yield more.

Liquidity

An organization’s liquidity indicates the extent to which it can meet its obligations in the short term. The organization goes bankrupt when the liquid assets and expected income are insufficient to pay the bills in a short time. The most important indicators to determine the liquidity of a company are: 

The current ratio shows the extent to which you have liquid assets to pay your creditors in the short term. This becomes clear by dividing the existing investments by the current liabilities. The desired value for this prefix is ​​between 1 and 1.5.

A quick ratio indicates the extent to which you immediately have liquid assets to pay your creditors. In contrast to the current balance, the quick ratio excludes inventories.

Working capital; is the balance between current assets and current liabilities. This balance, the working capital, indicates the liquidity buffer of a company. It shows the organization’s amount available to absorb financial setbacks without problems.

Solvency

With solvency, it becomes clear whether the organization can repay its debts in the long term. The solvency ratios determine how much an organization finances with equity or loan capital. The higher the proportions, the greater the chance debt providers will get their money back. And the sooner they are willing to make (another) loan available.

Golden Balance Rule means that you must finance the permanently fixed assets and the constant core of the current assets with equity and long-term debt and the fluctuating part of the existing assets with short-term debt.

The debt ratio (solvency ratio); is the total capital expressed as a percentage of the loan capital. This ratio indicates the extent to which assets are covered against the debts. Again a variation on the solvency ratio.

Other Ratios & Key Figures

The ratios and critical figures focusing on profitability provide an important signal about an organization’s performance and financial health. The following percentages and key figures are often used to determine how profitability is achieved.

 The turnover rate of assets; if you have the items inventories, debtors, and liquid assets on your balance sheet, you would like to know how efficiently the organization handles this. After all, holding liquid assets and stocks costs money. The ratio ‘speed of turnover’, also called turnover rate, shows whether the invested capital is being used efficiently.

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.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Master Financial Management: 101 Basics You Should Know

Financial management 101 encompasses the fundamental skills of budgeting, tracking cash flow, reducing debt, and building wealth through strategic planning and disciplined execution. These core principles form the foundation for both personal financial success and business profitability, whether you’re managing household expenses or running a growing enterprise.

After two decades as CEO of Complete Controller, I’ve witnessed thousands of businesses transform their financial futures by mastering these basics. The difference between thriving companies and those that struggle often comes down to understanding simple yet powerful financial concepts. This guide breaks down the essential components of sound financial management, from creating your first budget to optimizing cash flow and building long-term wealth. You’ll discover practical strategies that have helped our clients double their revenue, eliminate crippling debt, and achieve the financial freedom they once thought impossible.

What is financial management 101?

• Core answer: Budgeting, cash flow tracking, debt management, investment basics, and financial planning
• Budgeting: Creating and maintaining spending plans that allocate income toward needs, wants, and savings
• Cash Flow: Monitoring money coming in versus going out to maintain liquidity and avoid shortages
• Debt Management: Strategic reduction of high-interest obligations while building emergency reserves
• Investment Planning: Balancing risk and reward across diversified assets for long-term growth

Separate Personal and Business Finances

The single most critical step in financial management involves creating clear boundaries between personal and business money. This separation protects both your personal assets and your business entity while providing crystal-clear visibility into actual profitability.

Commingling funds creates a dangerous web of complications. When personal and business expenses mix, you lose the ability to accurately track business performance. Tax preparation becomes a nightmare, and you risk invalidating the legal protections your business structure provides. A single audit could unravel years of financial records if transactions aren’t properly categorized.

Legal and tax implications

Business structures like LLCs and corporations exist to shield personal assets from business liabilities. However, this protection evaporates when you treat business accounts like personal piggy banks. Courts can “pierce the corporate veil” when owners fail to maintain proper separation, leaving personal assets vulnerable to business creditors.

Tax implications multiply when finances merge. The IRS requires clear documentation for business deductions. Mixed accounts force you to justify every transaction, increasing audit risk and potentially disqualifying legitimate business expenses. Clean separation simplifies tax filing and maximizes allowable deductions.

Implementation steps

Start by opening dedicated business checking and savings accounts. Choose a bank that offers business-specific features like merchant services and cash management tools. Use these accounts exclusively for business transactions – no exceptions.

Establish a formal payroll system for owner compensation. Even sole proprietors benefit from consistent, documented owner draws or salary payments. This creates a paper trail showing legitimate transfers from business to personal accounts. Many of our Complete Controller clients use automated payroll services to maintain this discipline.

Document every transaction meticulously. Modern accounting software makes this simple, automatically categorizing expenses and generating reports. Link business credit cards and bank accounts to your bookkeeping system for real-time tracking. Regular monthly reconciliation catches errors before they compound.

Master the Art of Budgeting

Budgeting forms the cornerstone of financial control, yet 83% of Americans who create budgets still overspend according to recent NerdWallet research. The gap between planning and execution reveals why traditional budgeting often fails – it focuses on restriction rather than empowerment.

Effective budgets act as spending plans, not spending limits. They allocate resources toward your priorities while maintaining flexibility for life’s surprises. The most successful budgeters view their plans as living documents that evolve with changing circumstances.

Creating your first budget

Begin with accurate income calculation. Include all revenue sources: salary, freelance work, investment returns, and side hustles. Many people underestimate by forgetting irregular income like bonuses or tax refunds. Use your lowest typical month as a baseline for conservative planning.

Next, categorize expenses into three buckets:

• Needs (50%): Housing, utilities, groceries, insurance, minimum debt payments
• Wants (30%): Entertainment, dining out, hobbies, subscriptions
• Savings/Debt (20%): Emergency fund, retirement, extra debt payments

Track actual spending for one month before setting targets. Apps like Mint or YNAB automatically categorize transactions, revealing spending patterns you might not recognize. Most people discover they spend 20-30% more on dining and entertainment than they estimated.

Common budgeting pitfalls

Relying on memory or manual tracking dooms most budgets. Automated tools eliminate guesswork and provide real-time visibility. Link all accounts to your chosen platform for comprehensive tracking. Set up alerts for overspending in problem categories.

Static budgets ignore life’s natural rhythms. Quarterly reviews allow adjustments for changing income, new expenses, or shifted priorities. Build buffer categories for unexpected costs – car repairs, medical bills, or home maintenance. These inevitable expenses won’t derail your plan when properly anticipated.

Perfectionism kills more budgets than overspending. Missing your target one month doesn’t mean abandoning the system. Successful budgeters treat mistakes as data points for improvement. Our budgeting basics tips help clients maintain momentum through inevitable setbacks.

Decode Cash Flow Management

Cash flow confusion destroys more businesses than any other financial mistake. The myth that profit equals cash leads companies to celebrate paper gains while struggling to pay bills. Understanding this distinction transforms financial decision-making.

Profit measures the difference between revenue and expenses over time. Cash flow tracks actual money movement in and out of accounts. Due to timing differences, a company can show substantial profits while facing severe cash crunches.

The profit paradox

Consider a consulting firm that lands a $100,000 contract. They book the revenue immediately, showing healthy profits. But payment terms stretch 90 days while expenses like payroll and rent demand immediate payment. Despite profitability, they face a three-month cash shortage.

This scenario plays out across industries. Retail businesses buy inventory months before selling. Manufacturers purchase materials before receiving payment for finished goods. Service providers complete work before collecting fees. Each situation creates profitable companies with empty bank accounts.

Cash flow optimization tools

Cash flow statements reveal timing patterns invisible on profit/loss reports. Track three categories:

• Operating Activities: Daily business transactions
• Investing Activities: Asset purchases and sales
• Financing Activities: Loans, investments, and distributions

Accounts receivable management accelerates incoming cash. Invoice immediately upon delivery. Offer early payment discounts – 2% for payment within 10 days often motivates faster payment. Consider factoring for immediate cash access. One Complete Controller client used invoice factoring to access $90,000 upfront, funding expansion that doubled revenue within 12 months.

Accounts payable strategies preserve cash without damaging vendor relationships. They negotiate extended terms with suppliers, take advantage of grace periods without incurring penalties, and time major purchases to coincide with strong cash positions. These cash flow management strategies help maintain optimal liquidity.

Build Your Investment Foundation

Many beginners find investment basics intimidating, but starting simple beats not starting at all. The gap between knowing and doing costs Americans thousands in lost compound growth annually. Today’s accessible investment options eliminate traditional barriers.

Modern investing requires neither substantial capital nor extensive expertise. Robo-advisors and micro-investing apps democratize wealth building. Starting with $5 weekly investments builds habits that compound into significant wealth over decades.

Risk tolerance and asset allocation

Risk tolerance depends on two factors: time horizon and emotional capacity. Longer timelines allow recovery from market downturns, supporting aggressive strategies. Shorter goals demand conservative approaches, protecting the principal.

Age-based allocation provides a starting framework:

• 20s-30s: 80% stocks, 20% bonds
• 40s-50s: 60% stocks, 40% bonds
• 60s+: 40% stocks, 60% bonds

Adjust these guidelines based on personal circumstances. High job security supports more aggressive investing. Uncertain income demands larger cash reserves and conservative portfolios.

Low-risk investment options

Certificates of Deposit (CDs) guarantee returns with FDIC protection. Current rates exceed 5% for one-year terms. Ladder multiple CDs with staggered maturity dates for liquidity while maximizing returns.

Bond funds provide steady income with moderate risk. Government bonds offer maximum security with lower returns. Corporate bonds increase yield with slightly higher risk. Bond index funds diversify across hundreds of issues, minimizing individual bond default risk.

Index funds track market segments without active management. The S&P 500 index historically returns 10% annually over long periods. Total market funds provide even broader diversification. Low expense ratios maximize returns compared to actively managed funds.

Growth-oriented strategies

Individual stocks offer unlimited upside with commensurate risk. Focus on companies you understand with strong competitive advantages. Diversify across industries to minimize sector-specific risks. Start with established companies before exploring growth stocks.

Real estate investment trusts (REITs) provide property exposure without direct ownership. These traded securities pay high dividends from rental income. Some REITs specialize in commercial property, others in residential. Research management quality and property locations before investing.

Cryptocurrency represents the frontier of speculative investing. Extreme volatility creates fortunes and destroys wealth rapidly. Limit crypto exposure to 5% of the total portfolio maximum. Only invest amounts you can afford to lose completely. These investment strategies explore creative portfolio additions.

Conquer Debt Strategically

Debt reduction strategies determine financial freedom timelines. The average American carries $6,000 in credit card debt at 20% interest, creating a $1,200 annual wealth drain. Strategic elimination redirects these funds toward wealth building.

Multiple valid approaches exist for debt elimination. The key lies in choosing a method that matches your psychology and sticking with it consistently. Progress compounds as freed-up payments accelerate remaining debt payoff.

Avalanche vs. snowball methods

The avalanche method attacks the highest-interest debt first, minimizing total interest paid. List all debts by interest rate. Pay minimums on everything while directing extra funds to the highest rate. This mathematically optimal approach saves the most money.

The snowball method prioritizes the smallest balances for psychological wins. Quick victories maintain motivation through the long journey. List debts by balance size. Eliminate the smallest first, regardless of interest rate. Each paid-off account fuels momentum for larger challenges.

Research supports both approaches. The avalanche method saves an average of $1,000+ in interest. But snowball followers show higher completion rates due to regular victories. Choose based on your need for either maximum savings or motivational milestones. These proven debt reduction techniques provide detailed guidance.

Credit optimization strategies

Credit utilization dramatically impacts credit scores. Keep individual cards below 30% of limits. Total utilization across all cards should stay under 10% for optimal scores. Request limit increases on existing cards rather than opening new accounts.

Payment history weighs heaviest in credit scoring. Set up automatic minimum payments preventing missed due dates. Pay additional amounts manually to maintain control. Even one late payment can drop scores 100+ points and linger for years.

Monitor credit reports quarterly through free services. Dispute errors immediately – 20% of reports contain mistakes. Track score improvements as motivation during debt reduction. Rising scores qualify you for lower rates, accelerating payoff timelines.

Design Your Financial Future

Long-term financial planning transforms vague hopes into achievable realities. The gap between retirement dreams and savings reality grows wider each year – Americans average just $8,863 in emergency savings against recommended amounts of $35,000 for six months’ expenses.

Starting early maximizes compound growth’s magical effects. Each decade of delay roughly doubles required monthly savings for identical retirement outcomes. A 25-year-old needs $200 monthly for comfortable retirement. The same goal requires $800 monthly starting at 45.

Retirement planning essentials

Employer 401(k) matches provide instant 50-100% returns. Contribute at least enough to capture full matching – it’s free money. Many plans offer automatic escalation, increasing contributions with each raise. Start with affordable amounts and grow systematically.

Traditional vs. Roth accounts offer different tax advantages:

• Traditional: Tax deduction now, taxed in retirement
• Roth: No current deduction, tax-free retirement withdrawals

Young workers in low tax brackets benefit most from Roth contributions. Higher earners approaching retirement often prefer traditional accounts’ immediate deductions. Split contributions between both for tax diversification.

Emergency fund building

Emergency funds prevent debt accumulation during crises. Job loss, medical emergencies, and major repairs strike without warning. Adequate reserves mean handling challenges without derailing financial progress.

Start with $1,000 as “starter” emergency fund while paying off debt. This covers most minor emergencies without credit card reliance. Build systematically through automatic transfers. Treat emergency savings like any other bill.

After debt elimination, expand to full emergency reserves. Calculate six months of bare-bones expenses:

• Housing (rent/mortgage, utilities, insurance)
• Transportation (car payment, gas, insurance)
• Food (groceries only)
• Minimum debt payments

Keep emergency funds in high-yield savings accounts. Online banks offer rates 10x traditional banks. Money market accounts provide similar returns with check-writing privileges. Avoid investment risk with funds needed within five years. These financial planning for beginners resources expand on these concepts.

Leverage Technology and Automation

Financial technology revolutionizes money management efficiency. Tasks requiring hours of manual work now happen automatically. The 3.9% personal savings rate in 2025 – down from 32% during 2020’s peak – highlights the need for forced automation.

Successful financial management relies on systems, not willpower. Automation removes decision fatigue and ensures consistency. Set up systems once, then focus energy on optimization rather than execution.

Essential financial apps

YNAB (You Need A Budget) enforces proactive spending decisions. Every dollar receives a job before spending. This zero-based approach prevents overspending by design. The learning curve pays dividends through lifetime habit changes.

Mint aggregates all accounts for comprehensive tracking. Automatic categorization reveals spending patterns. Custom budgets and alerts maintain accountability. Free access makes it ideal for beginners exploring budgeting.

Personal Capital combines budgeting with investment tracking. Net worth calculations update daily. Retirement planning tools project future outcomes. Fee analyzer reveals hidden investment costs draining returns.

Bookkeeping automation

QuickBooks streamlines business financial management. Automatic bank feeds eliminate manual entry. Invoice generation and payment tracking accelerate cash flow. Tax preparation is simplified with organized records throughout the year.

Receipt scanning apps digitize paper trails. Point phone cameras at receipts for instant capture. Automatic expense reports save hours during tax season. Cloud storage ensures records survive disasters.

Complete Controller provides full-service bookkeeping for growing businesses. Professional bookkeepers handle daily financial tasks, and real-time reporting instantly reveals business health. Scaling businesses focus on growth while experts manage finances. Our comprehensive approach includes all these investment strategies within integrated financial management.

Final Thoughts

Financial management mastery begins with a single step repeated consistently. The fundamentals covered here – budgeting, cash flow, debt reduction, and strategic planning – build upon each other, creating unstoppable momentum. Small actions compound into life-changing results when supported by proper systems and automation.

Your financial future depends on decisions made today. Whether you’re drowning in debt or building on solid foundations, these principles accelerate progress toward your goals. The gap between financial stress and financial freedom often spans just a few key habits practiced consistently.

Take action now. Choose one area for immediate improvement. Set up that first automated transfer. Create that initial budget. Separate those mixed accounts. Progress builds confidence, and confidence fuels larger changes. For personalized guidance on implementing these strategies in your unique situation, connect with our team at Complete Controller. We’ve helped thousands of entrepreneurs master their finances – let us help you write your success story.

FAQ

How do I separate personal and business finances if I’ve been mixing them for years?

Start fresh with new dedicated business accounts, then systematically review past transactions. Work backwards categorizing expenses as business or personal. Consider hiring a bookkeeper to clean up historical records properly. Moving forward, use business accounts exclusively for business transactions and pay yourself through formal payroll or owner draws.

What’s the real difference between cash flow and profit that business owners need to understand?

Profit shows whether your business model works on paper – revenue minus expenses over time. Cash flow reveals whether you can pay bills today. You might show $50,000 profit while having no cash because customers owe you money or inventory sits unsold. Managing both ensures long-term success and short-term survival.

Should I pay off all debt before starting to invest for retirement?

Balance both goals simultaneously for optimal results. Always contribute enough to 401(k) plans to capture employer matches – that’s 50-100% instant return. Pay minimums on low-interest debt (under 5%) while investing. Aggressively eliminate high-interest debt (above 10%) before non-matched investing. This balanced approach builds wealth while reducing obligations.

How can I start investing with less than $100 to begin?

Micro-investing apps like Acorns or Stash allow $5 minimum investments. Robo-advisors like Betterment and Wealthfront manage diversified portfolios starting at $10. Many brokers eliminated minimum deposits and trade commissions. Start with index fund shares through apps like Robinhood or Fidelity. Consistency matters more than initial amounts.

What financial management tools are absolutely essential for small business success?

Three tools form the foundation: budgeting software (like YNAB) for planning, accounting platforms (QuickBooks) for tracking, and payroll systems for compliance. Add payment processing for customer convenience and receipt scanning for expense documentation. These systems work together creating financial clarity and control while saving hours weekly on administrative tasks.

Sources

• Bankrate. (2024). “Financial Success Survey.” www.cpapracticeadvisor.com/2024/12/18/at-a-glance-the-average-american-household-budget/153194/
• Consumer Financial Protection Bureau. “What is the Debt Snowball Method?” www.consumerfinance.gov/ask-cfpb/what-is-debt-snowball-method/
• Financial Samurai. (2023). “The Average Emergency Fund Size By Age.” www.financialsamurai.com/the-average-emergency-fund-size-by-age/
• Invoice Interchange. (2023). “Case Study: How Invoice Factoring Helped Double a Small Business’s Revenue.” www.invoiceinterchange.com.au/case-study-how-invoice-factoring-helped-double-a-small-businesss-revenue/
• Investopedia. “Investment Strategies: Different Types of Investment Strategies.” www.investopedia.com/articles/investing/08/investment-strategies.asp
• NerdWallet. (May 30, 2023). “Most Americans Have a Monthly Budget, but Many Still Overspend.” www.nerdwallet.com/article/finance/data-2023-budgeting-report
• Nolo. (2023). “How to Manage Your Money 101.” www.nolo.com
• Quicken. (2023). “12 Basic Principles of Financial Management.” www.quicken.com
• RCAP. (2014). “The Basics of Financial Management.” www.rcap.org
• Small Business Administration. “Plan Your Business.” www.sba.gov/business-guide/plan-your-business
• Trading Economics. (May 2025). “United States – Personal Saving Rate.” tradingeconomics.com/united-states/personal-saving-rate-percent-m-saar-fed-data.html
• Your Startup Sidekick. (June 17, 2024). “Financial Management 101: A Comprehensive Guide for Small Business.” www.yourstartup.com

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.