Author: Jennifer Brazer

Making money is a very difficult task for many, but some people have mastered the art of making money from anything. These people are not magicians; they are using their skills to their fullest. No matter what job a person does, there is always room to make more money.

In reality, there are no particular skills required to make money. One can literally earn money from whatever he is good at, so anyone can utilize their skills to earn extra income. Hobbies are the best way to make revenue because a person does not typically get bored with it.

Consistency and belief are two important ingredients that are required to earn some extra cash. Many people fail to make extra income only because they were not persistent and gave up too soon.

Sales skills are highly necessary to make money irrespective of the person’s field. To make money, an individual is selling either a product or service. For the former, skills and knowledge are required to convince the customers, and for the latter, a person should know how to sell himself.

 Other skills that would be needed are honesty, hard work, enthusiasm, and courage to take risks.

Here are some money-making skills that can double the monthly income of a person in a lesser time.

Freelancing:

Any work that is done for the client without committing to it for the long run is called freelancing. Freelancers are self-employed because they can flexibly select their working hours. Many websites allow the freelancer to work with ease from their home. One can start freelancing in their free time or on the weekends.

A freelancer usually provides his mind and skills. There are freelance writers, designers, web developers, photographers, and the list goes on.

Tutoring:

A graduate person could use the time to educate others. Working as a private tutor or joining an institute as a special subject teacher can help a person utilize their skills and subject matter knowledge to earn money.

Painting:

One does not need to be a full-time artist to earn money from painting. An individual could paint everything from portraits to houses or face paint at events.

Take Online Surveys:

An individual can also sit and fill out marketing surveys. Often, these surveys give rewards either through monetary compensation or gift cards.

Peer to Peer Lending:

Some people are in urgent need of money and want it instantly, so a person could join a lending club and earn interest on the loaned money. The earning could be as high as 25%, but usually turnover is between 3-8%.

Affiliate Marketing:

Affiliates are the owner of the website, and their web-content is usually about the company they are advertising.  Affiliate marketing pays you money when you refer others to the company for a particular service or product.

Repair Electronics:

A person who is a repair tech could also earn money from their skills, and a typical repair shop is not always necessary. The customer could contact a repairer by just hearing about the services. From computers to juicer blenders, one could be able to repair anything.

Online Selling:

Buy some small things at wholesale rates and sell them on the websites that allow the users to open their shop online. The products are sent to the customers using different courier services within 2-5 business days. That means one could have enough time to pack and send the product. These websites take a small percent of whatever is sold, and creating an account is low cost.

Sell Photographs:

Buy a good camera and sell what is captured. There are websites that allow photographers to upload their photos and earn from them whenever a person downloads them. These websites provide percentage-share to the uploader.

YouTube Video Making:

YouTube lets their account holder earn from their videos. When people watch the video, the person who has uploaded it gets the profit from the company.

E-Book Writing:

Any person could become a book writer – thanks to the internet. Now, there is no need to have funds to publish the written work. From a cookbook to the first aid booklet, one could write and publish just about anything. Many e-book sites allow users to earn from their e-books.

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

Freelancers, or contractors, often work on different projects at a single time, which can make it difficult for them to keep track of time. Therefore, they are always in search of a way to manage their time and deadlines effectively. Handling and tracking time effectively enhances the productivity of the freelancer and increases their efficiency. Back in 1500 BC, Egyptians used a device similar to the sundial which used to help them in tracking time. We still need to time track; however, the methods have evolved with time.

On several occasions, businesses need a time tracking system to reduce the effort of maintaining records on their own. You will find several methods on the internet that can help you manage and track your time. If you are a contractor, it is recommended that you utilize software to keep track of time to increase your work productivity. Below are some methods which you can use.

1. The Paper Method: This method requires you to have access to a pen, paper, and a stopwatch, which can be found on most smartphones. You can use a stopwatch on your phone to keep track of time by writing down the time it takes to finish a particular activity. This method is easy to use. However, you can easily lose the paper which you used to keep track of everything.
2. The Honor System: This system requires you to estimate the time it would require you to complete a task and report it to your project manager. They estimate the amount you should get paid considering the hourly rate you state, so while this method is easy, inaccuracy is always an issue. You may under or overstate the time you require to finish a task, negatively affecting your compensation later if you cannot provide proof.
3. The Spreadsheet Method: In the spreadsheet method, you use a template and add the commencement time and the project’s finishing time. You can use the template provided in Excel and add the columns as you require. This helps you send the report to the manager easily, and it is easier to document than the honor system. However, it is time-consuming as a person needs to manually type the data whenever the work is completed.
4. Mobile Phone: Mobile time tracking was considered a luxury a few years ago. In this decade, it has become necessary for people and businesses to keep track of time and bills through mobile timesheets. You can download an app or make use of time-related, built-in applications to record time.
5. Google Chrome: It is usually helpful and preferred to record time without signing into an application. Google Chrome (or any other browser) offers a user to record time of any activity or the time spent on a website without the need to sign in.
6. Biometric System: Retina and fingerprint scanning may sound futuristic, but many organizations are now using them to record time. Biometric time tracking allows an organization to keep track of the check-ins and check-outs of the employees. This is more convenient than manual time tracking.
7. Cloud Software or app: With the help of advancement in technology, people can now use Cloud software to track and record time and all the necessary information related to it. They can even share it with as many people as they want. Cloud software helps an individual to save time by keeping all the data updated, and the data entered is automated.

In short, there are many methods that both businesses and individuals can use to manage and record time according to the nature of their work. Technology has greatly impacted businesses, freelancers, and contractors, by reducing the efforts it requires to manage and record all the time and data manually.

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

When starting a business, there are many things to consider. The first thing you must figure out is how you are going to finance your business. In some cases, a new business owner will fund the business independently; in other cases, a new entrepreneur will need either partial or full funding. You can finance your business multiple ways, but to determine financing possibilities, you will need to assess the business and financing potential. The first suggestion is that you create a business plan that will include the business’s financial needs. Here are seven ways you can fund your business outside of using your savings.

Friends or Family

While often, when we are starting our own business, it can be met with mixed reactions. Most of your friends and family will be supportive, but you may also encounter some naysayers among them. Just because a friend or family may support your business venture doesn’t mean that they will also finance it, but if you give a compelling presentation and have the funds, some friends or family may be willing to invest in your business.

Outside Investors

Soliciting outside investors can be a great way to fund your business. Outside investors can be easier to solicit than friends or family because they will be looking at the business plan, earning potential, and impression of you. They won’t have preconceived notions of you that your friends and family may have. Outside investors are looking for investments that will earn them income, and if your company has great potential, you can attract great investors.

Bank Loans

Bank loans are the traditional option that many businesses use to finance. It is less preferred as an option because of the interest and requirements you may not meet, especially as a startup. If you have great personal credit, you can generally get some funding for your business when coupled with a great business plan. However, banks are often hesitant to back a new business regardless of personal credit due to the risks missed by your business.

SBA Loans or Business Grants

The Small Business Administration is a great way to get financing for your business, but it is also one of the most difficult ways. There is a lot of paperwork and strict requirements to get a loan or grant through the SBA. But if you can do it, the rates are great, and grants do not require payback. Even though it is a long shot to get an SBA loan or grant, it is worth the time and effort because the payoff is great.

Credit Cards

Credit cards are an option to finance your business or purchase the business’s needs, but it is the least preferred. Credit cards generally have higher interest rates, and if you max them out, you can have difficulty getting out from under the debt it will create. A credit card should only be used for business purchases if you have no other option. They can also make smaller purchases for business needs as long as you make every effort to quickly pay the balance. It is also suggested that you obtain the credit card you will use for business under its name.

Purchase Order Funding

Purchase order funding is fairly new to business financing but is gaining popularity. This type of financing works by the investor paying your suppliers directly for the goods and materials you need to start selling. You will pay the investor much like you do if they fund your business directly, through the profits you make as a business.

Crowdfunding

Crowdfunding has become an extremely popular way to finance a business or project. If successful in getting crowdfunding to start your business, the crowd invested in you will be paid back when your business becomes profitable. Crowdfunding is largely dependent on you selling your business idea and yourself. Often investors on crowdfunding sites invest from their hearts.

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

One common source of income comes from a professional or registered job or business. Earning a lifetime profit on a one-time investment is called earning a passive income. It also refers to the income generated from passionate efforts. Most people earn this by utilizing their natural skills. Suppose you have an interest in app development or cooking. In this case, you will first visit multiple websites and channels on the internet. You will start learning tips and tricks and learn how to exercise your talents practically to further develop your interest. It is human nature to be curious and explore subjects that interest you.  

Our hobbies and interests encourage us to learn something new. Multiple platforms exist on the internet where we can become a solo entrepreneur and generate passive income. The journey from initially learning to creating a self-made business is the path to earning a passive income.

This income is the best source to balance your financial circumstances. According to CNN Money, around 44 million US adults desire to make more money than their regular jobs, and nearly 36% of Americans become successful in making 500 extra dollars monthly.

The public’s interest in making passive money is increasing, and its scope is rapidly broadening every year. However, many Americans remain ignorant of this potential. They even believe “having a side hustle” is a useless practice and a wastage of time. That is why you must be smart when spreading awareness about passive income and earning money.

Your passive income depends on your capacity to work. There is the guarantee of a refund at the initial level but, with time, your talent will develop. For example, you are a newbie in the blog or article writing field and do not handle clients. You write your first blog and send it to the customer. Your article may be initially sent back because you could not meet the client’s requirements. You will then learn and find solutions. In the end, you will use this lesson to progress and take on more clients and earn more income, or you will abandon the field and eliminate your chances of succeeding.

There are multiple strategies and ways by which you can make passive income that is relative to your income standards.

One option is to use your spare bedroom or floor as a space to rent out to travelers or housemates. This will allow you to earn long-term passive income. This is done by leaving one portion of the house for yourself and renting the other portion out. You must have your tenant sign a legal agreement and decide a specific amount for rent. Here, this one-time investment also means you do not need to purchase a separate property but can use the home you already live in.

Another option is the peer-to-peer lending process. Various companies, such as Lending Club and Prosper, provide investors with different productive offers to realize the best passive income earning source. According to Financial Samurai, investors get 10% of the returns on investment within a year, generating passive income from companies. Additionally, the competitive rates offered are what attract consumers.

Do you have an interest in photography? Consider selling stock photos as a way to earn passive income. Photography is a hobby that allows us to preserve infinite memories. Additionally, it is a way to tell a story without using words. People love to have photos of their choice displayed in their house. This interest can help you earn a profit if you have a talent for it. The high scope of demand makes this domain of stock photography a big market.

Passive income is not an illegitimate way of earning money; it is done through passionate efforts. Consider using your skills, talents, and interest to earn supplementary income for you and your family.

 

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

There are many fields of work that can carry over into freelancing. Freelance means to do work on a job to job basis for a multitude of clients rather than to work in a career field for one employer. Freelancing can be profitable but a little more unstable as you may or may not get work regularly. The income is sporadic rather than the steady paycheck that working for a single employer would provide. But the inclusion of the word “free” is a good indication of the underlying advantage to being a freelancer, you are free to take as much or as little work as you would like, and you have freedom in every aspect of the business you do.

Becoming a freelance bookkeeper can be easy if you have the skills. In many cases, your education level won’t matter to your clients because you are a freelancer. If you have the skills, the client will not care about your education. However, having a degree in accounting or bookkeeping would always be a plus for a freelancer looking to get the maximum pay for the work.

If you decide to throw your hat in the ring of freelance bookkeeping, you will need to generate clients. In many cases, once the business gets started, if you are good, you will get endless work by word of mouth. However, sometimes in the freelance world, the competition can be steep. Therefore you need to be proactive in drumming up business. Here are three things you need to do to build your freelance bookkeeping business.

Use Social Media Platforms

Everyone knows that social media is a huge asset when it comes to building relationships and your business. Most people concentrate on Facebook and LinkedIn when it comes to business-related marketing, but all social media platforms can be used to build your business.

• Facebook: It is perhaps the more used for business purposes as you can start a business page for free and invite all your friends to like the page, share it, and get the latest news of your business through updates on the page. You can also use your Facebook timeline to let people know what you do and your availability. Don’t be afraid to ask your friends to get the word out about you.
• LinkedIn: This platform was specifically created to help employees find employers, employers to find potential employees, and business owners to build their businesses. LinkedIn connects people for business purposes and creates leads for jobs based on your business profile input.
• Instagram: While it is not generally thought of as a business platform, it is definitely where people can build their brand. Through hashtags, you can build an audience from people you don’t know personally fairly easily. Brand-building is important when it comes to having a freelance bookkeeping business or any business for that matter

Look for New Businesses

Looking for new business may seem like a no-brainer, but many people don’t seek business out. Most freelancers put themselves out there and wait for the clients to come to them, which is exactly what you should do. However, you are only tapping into half of your client grabbing potential. Because every business has to implement a bookkeeping strategy, you can get business by contacting new or start-up businesses and offering your services. Most new, small businesses have difficulty with the financial aspect of the business. Though some feel uncomfortable cold-calling on businesses, the truth is, if the worst thing they can do is say no, you have nothing to lose. There are thousands of new small businesses or even established ones. Move on from the no until you find yeses.

Run Ads EVERYwhere

You should always run ads everywhere you can afford. Many places are free or very low in cost.  The most important thing to remember is that if you are creative or know someone else, you can keep advertising costs so low that they are almost imperceptible.

Craigslist is a great platform. There is a small fee to run ads there, however, the payoff can be great, and will pay for the fee easily. You can also use freelance work sites such as Fiverr, keep in mind that they allow you to post your job for free but take 20% of your payment and don’t pay you for the work until 14 days after completion of the work. It is a great site to gain your customers and build your reputation and is still recommended despite the financial drawbacks.

Conclusion

Starting and maintaining a successful freelance bookkeeping business is fairly easy as long as you have the skills. If you use these three ideas, you can do so within a short time and have your business overflowing quickly.

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

When it comes to budgeting and investing, finding a good plan to manage the money can become a very difficult task. It can become a challenging mission for many men and women when they sit back and try to manage their financial errands. However, it is observed that women often confront more difficulties in comparison to men. The reason behind this difficulty is that women around the world face different types of concerns, and they affect the handling of accounts.

For different women to address their concerns head-on, some online financial planning tools can offer immense help.  

Here are some best and easy-to-use financial planning tools, also known as financial calculators, that can enable any woman to comprehend and take control of her funds:

Retirement Calculator

Created by the American Association of Retired Persons (AARP), the Retirement Calculator is an excellent tool that helps people start reassessing their retirement. By entering some fundamental data, for example, age, current reserve funds, expected retirement age, pay, and conjugal status, this calculator can help a woman determine if her current investment funds are satisfactory or not for her eventual retirement plans.

401k Savings Calculator

Particularly when your financial obligations are restricted to a small budget, it is sensible to use the 401k savings calculator. This amazing tool can enable a woman to make sense of how much savings she must collect and update her budget accordingly.

Lifetime Income Calculator

Like the aforementioned calculators, the U.S. made Lifetime Income Calculator is available to help a young lady determine her basic savings. This Lifetime Income Calculator comes with a couple of its own highlights that make it one of a kind financial planning tool.

This unique tool enables you to calculate the month-to-month lifetime wage streams. It is used to consider both the member’s present record balance and the anticipated estimation of the record balance at retirement. This calculator helps you create two-level lifetime installments and plans. The two levels mean one for the life of the member and the second for the joint existence of the member. It also helps to adjust the life partner investment with a half survivor’s advantage for the companion’s lifetime.

Social Security Quick Calculator

For the women out there, who are worried about their social security plan, Social Security Quick Calculator is your answer! You can utilize this calculator to evaluate and determine what to expect regarding social safety salary depending upon when you retire.

Cost of Senior Care Calculator

Obviously, the trouble in long-term saving and avoiding and obstacles is unpredictable. However, if you perceive and calculate where you are and plan for later, you can build up a nice nest egg and enjoy a better future. As such, utilizing the Cost of Senior Care Calculator can be your perfect option. This calculator helps you compare the cost of senior care with the expenses of your incurring.

Cost of Raising a Child Calculator

If a woman is expecting to have a child in the near future or is currently raising children, then the Cost of Raising a Child Calculator is the best financial planning tool for her. It is a tool developed by the U.S. Bureau of Agriculture department for nourishment strategy promotion. This amazing tool enables many mothers across the country to evaluate the expenses related to child-raising obligations.

Commute Cost Calculator

Last but not least, the Commute Cost Calculator can help a busy working woman determine her current transportation cost.  The cost of a commute can be a major factor of any financial plan, particularly for women working one or more jobs. The Commute Cost Calculator can enable these working ladies to manage their traveling budget and help them spend their hard-earned money 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Every working American citizen is bound to pay some percentage of the income in the name of taxes, while some taxes are payable with every purchase. Benjamin Franklin said only tax and death are permanent. It is impossible to avoid taxes when buying something, be it a property or a small beverage. The government at both the federal and state-level benefits from our tax dollars. Taxes are supposed to be used to fund the government and their projects. Here are types of taxes and deductions every taxpayer should know about.

Tax Types

Property Tax

According to what every other country imposes a tax on property, property tax is the specific tax that is charged annually for homes and real estate. In the USA specifically, the property tax rates are lower than in most other countries.  Taxes in the USA also differ from state to state. There are two kinds of taxes, one at the state level and the other at the federal level.

Sales Tax

Sales tax is the tax charges at the point of sale of goods and services. Sales taxes are by each state and vary depending on the items purchased. General sales tax may be different than what is charged for alcohol and tobacco products.

Income Tax

Every working American citizen has to pay income tax. Income tax is calculated based on an individual’s annual or sometimes quarterly income, depending on the profession.

Capital Gain Tax

The capital gain tax is the tax charges after the sale of non-inventory goods. It is almost 15% in the US, but this tax can vary to some degree from person-to-person. If someone pays income tax up to 40%, then the payable capital gain tax will be 20%.

Value Added Tax (VAT)

The value-added tax varies from country to country. It is the tax that is added at different stages of the production of goods. It is only done if the value is added to the product at the stage.

State Tax

The state tax varies from state to state. Some states, such as Texas, don’t have state taxes. In many states that do not have a state tax, the state uses other means to fund the government. For example, Texas, again, the money people pay to purchase lottery and other legal gambling sources.

When paying taxes, it is important to keep it to a minimum to least impact your income. Here are some ways you can save on your taxes.

Tax Deductions

Income Tax deduction 

A tax deduction refers to the deduction of expenses or purchases that are tax exempt. There are certain commodities on which taxes are not applicable and therefore exempted. Some of the purchases and expenditures that are tax-deductible are listed below.

Charitable Contributions

Charity is in the category of tax-deductible spending. It can be a small amount or a substantial sum and is used by many as a tax shield. Mostly all the welfare states declare charity as a non-tax applicable expenditure. For example, if you are finding clothes for an orphanage or are sending some toys as a charity, you can mention it in your tax file. It will be declared tax-deductible; make sure to save the receipts and other such evidence of your expenditure.

Volunteering

If you are volunteering for a government event or a state-recognized charity, then the amount you pay for any such purpose is tax-deductible. For example, if you hire a babysitter while working as a volunteer and it comes under a charity event, the amount you pay to the babysitter is tax-deductible.

Teaching Materials

Teachers spend a lot of effort and time imparting their knowledge and skills for their students’ bright future. Teachers also spend some amount of the money on teaching materials, such as color recognition tools, crayons, and other stationery. All K-12 teachers are allowed a $250 tax deduction for such expenses.

Military Moving Expenses

Whatever you spend on getting a new job is not tax-deductible. However, if military personnel is moving due to military orders, the expenses are tax-deductible and must be mentioned during tax filing.

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

Did you know that the average household debt in America totals $38,000? When trying to get out of debt, there are many factors and strategies to consider. Each strategy can significantly impact your finances if you are serious and dedicated to following the plan. Your first question may be, “Where do I start?”

Create a strategic spending plan

First, put down on paper all monthly incomes once taxes and expenses have been removed. Indicate the minimum payments you made each time. Next, rank your expenses by their importance and analyze the ones at the bottom of the list to see if they are necessary. You can complete this plan by allocating a budget for each type of expenditure (rent, groceries, outings, clothing).

The goal of this budget is to evaluate whether you are living within your means.

Make a list of all your credits

Make an inventory of all of your necessary expenses and credits and indicate each entry’s interest rate (credit cards, mortgage, car loan, etc.). A person can classify these by sorting the credit with the highest or the lowest interest rate in order to prioritize their repayment.

Choose a repayment strategy

When paying off credit cards, you have the choice to pay the minimum amount on all cards except the one with the lowest or the highest interest rate.

Choosing to pay the lowest amount is known as the Snowball method, while the highest is known as the Avalanche method. It is up to you to choose the option that best fits your needs.

If you go with the Snowball method, focus on the debt with the lowest interest rate. By choosing to start this way, it will take longer to repay your debts, and the overall interest rate will be higher. However, the effects are seen more quickly, encouraging you to continue this way.

If you choose the Avalanche method, focus on the amount with the highest interest rate. You choose to abolish the largest debt as soon as possible by adopting higher payments. Once this debt is paid, you can move on to the next debt and continue so on until you have paid off all your debts.

These are just two of many strategies. Feel free to do your own research to find a plan that suits you best.

Use a debt payment calculator

By entering all debts into a debt calculator, the program will provide you with different strategies to implement concerning payment plans. The calculator will show you what you must pay each month to your creditors. Examples of these calculators include CalcXML, or the calculator set up by the government. 

Choose bi-weekly payments

By making a payment every two weeks instead of once a month, you can segment your expenses and add an extra month to your repayments each year (you will make 26 payments or 13 months of repayment).

Automate your payments

If you are not yet comfortable with your ability to pay your bills on time, consider setting up automatic payments between your creditor and your bank account. You can choose the amount and date of the deduction to make sure there is enough money in your account.

Learn about interest rates

It is possible to take advantage of lower interest rates; you just merely have to ask. If you have an adequate payment history (and are threatening to take your business elsewhere), some creditors may offer you a discount. If this fails, choose a credit card with a lower interest rate and transfer your balance. Read the conditions of your new bank carefully so as not to be surprised by hidden fees.

You can also opt for debt consolidation.  This allows you to consolidate all your debts with a lower interest rate. However, having a fair credit score is often a requirement for these programs.

Reward yourself!

It is a great idea to reward yourself for achieving milestones. This does not have to cost money, but it will surely keep a person motivated. Maintaining fiscal determination to get out from under your debt must always be a top priority.

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

There may come a time in life for the financially responsible adult to increase your income. You may need more income to make a large purchase, save for emergencies or retirement, or due to unforeseen financial hardships, making it challenging to make ends meet. Whatever the reason, you may be contemplating asking for a raise to increase your income. For some, asking for a raise is easy, and it is difficult for others to do it for others. Here are five tips to get you a raise and increase your income.

Protocol Awareness

The first thing you need to be aware of is the company protocol on asking for a raise. Some companies may not have a specific protocol, while others may have salary increase procedures to follow if you are looking for a raise. In the past, employees would set a meeting with the boss, ask for a raise, and lay out the reasons for a simple verbal presentation. In today’s corporate world, some offices have channels that are gone through to gain approval and increase income. Make sure you are aware of the protocol before you approach anyone about a raise.

Timing is Everything

Figuring out the right time to ask is similar to protocol awareness. In some companies, they only consider increases in salary during yearly evaluations. They consider it for all employees and will award increases according to job performance and employee evaluation. You may not have to wait for a specific time of year at other companies and can set the time to when it makes the most sense to you. If you can choose when to ask for a raise, make sure you set the appointment with the decision-maker when it is right for them and with plenty of notice. This attention to the timing can make a difference between getting the raise or having it rejected.

Be Realistic

While you should be aware of your worth and how that translates into being paid what you are worth, you also have to consider that asking for a raise is a business transaction. Suppose you ask for too much of an increase in your income that either the company can’t afford or is out of proportion to your progression, instead of negotiating. In that case, they may reject it altogether. At the same time, it is not unrealistic to ask for a little more than you want to give some negotiation space.

Be Prepared

Asking for a raise in some smaller businesses may be as simple as walking up to your boss and asking, requiring no preparation. However, in most companies, when asking for a salary increase, you have to be prepared to make a presentation as to why you deserve the raise. You should be able to show your value, what you bring to the table, and why this value deserves an increase in your income. If you are a hard worker, often the decision-maker knows your value. However, in some cases, your hard work is taken for granted, so if you are prepared with well thought out arguments of why you should get what you are asking for, your chances of securing a raise are increased.

Amount

Some may argue that you should ask for the exact amount you would like to make when asking for a salary increase. In some cases, this direct and specific approach will be successful. However, it is suggested that you give the decision maker a range of amounts. Some may believe this means the company would probably offer the lowest amount of salary in your provided range. First, if you make the lower end, what you are willing to take, or if it is an amount you were hoping for, you will increase your chances of getting the raise you want. Second, you could get more than you wanted if you give them this range of choices. Another strategy is to ask for a percentage or range of percentages of your current income increase.

Conclusion

Asking for a raise can be challenging unless it is built into your company’s performance reviews done yearly. Even though asking for a raise might make you nervous, the truth is, 100% of employees that don’t ask for a raise don’t get one. However, studies show that 70% of those employees ask for a raise get one if a person uses these tips.

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

While you may have heard the phrase “content is king,” you may not understand why. The internet is exploding with blog posts, social media content, and information trying to grab your attention. Even if your product itself is high quality and unique, sales will suffer if your marketing content is not appealing. Similarly, we have all seen low-quality products fly off the shelves simply because that company has properly utilized a great marketing campaign with attention-grabbing content on social media. If a company can convince a customer to purchase a product with strategic marketing content, they can boost sales and grab new customers. Here are some helpful tips to consider when creating your brand and marketing strategy.  

Have a distinct voice  

Try to make your brand voice unique and distinctive so that it will stand out amongst your competitors. Don’t be too formal; rather, treat the customer as a friend. You don’t want to sound robotic and bland.  In social media content and blogs, use humor and interesting facts that are personalized and specific to your brand. Above all, be welcoming and engaging. This will make your customers and possible customers feel more connected to your brand and more interested in what you have.

Think beyond just written words

You don’t need to limit your content just to written words. You can also add appealing pictures, videos, and graphics. You can also include things like quotes, statistics, bullet points, and special offers. Make sure they are all easy to digest and visually attractive because not all people like to read. It is ok to have limited offers here and there as well.

Have an engaging title

Online shoppers are in a hurry and tend to read the title and swipe next. If they do not find it interesting enough, the chances of them making a purchase are slim as they move farther and farther away from your page. The title must stand out and be visually attractive and provoking.

Use emotion words and words that inspire action!

Personalize

Making your content personal helps it become more real and inviting. This can include real-life stories from your past and anything that will create a strong connection between you and the reader. Again, triggering an emotion is effective in engaging the audience.

Audience involvement

Search ways to involve your audience that include more than just asking them to repost your content.  Act like you are a participant in the whole scenario, not just an observer. For instance, you can initiate a contest so that your followers will regularly visit your site. You can ask them to submit a short paragraph on how they will utilize your product or service. Then you can post the names of the people who participated. Audiences are also responsive when they are asked to be a part of the creative process. For example, “Do Us A Flavor” would challenge the customers to create a new flavor for an ice cream brand.

Stay on top of the latest trends

Keep the current industry trends in mind while introducing something modified and new into it as well.  While your solution or product is unique, it needs to solve a common problem and intrigue a large number of people. Your goal is to become the trendsetter, not the trend-follower.

Have a diverse and talented marketing team

To successfully manage the challenges involved in creating attractive content, you must have an experienced and talented team. It takes a creative mind to produce new and innovative ideas. There should be a balanced group of both writers, researchers, artists, and tech experts.

 

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