Between your monthly debt repayments, grocery bills, and amusement expenses, it can be hard to find even a few dollars to set aside toward a savings goal. While cash advances from debit/credit cards make it easier to access money immediately, this option often results in heavy fees. Taking out loans also results in interest rates that can bury you.

Based on all these factors, it can often be challenging to navigate and adjust your spending habits. Here are ten objectives that may motivate you to save money:

To Become Rich

Most people dream of becoming wealthy one day. They dream of living a life free from the burden of tight budgets and debt. However, the path to wealth involves hard work, attainable goals, and diligent financial management.

Many rich people started at the bottom of the ladder, and through sustained effort and saving every penny they could, they can now live the comfortable life most of us dream about. Remember that you must spend money to make money, so start by saving a small amount every month. Make sure a portion of your check goes toward your savings account. This way, you will be prepared to take the plunge when an investment opportunity arises.  

Pay Less Interest

In times of financial distress, some people are forced to put every purchase on their credit card. Even if they diligently meet their minimum monthly payments, they could end up paying 50%  more than the retail price of each purchase. With a healthy savings account, a person may not have to resort to spending so much of their credit, burying themselves in interest rates.

To Buy a House

Buying a house is a costly investment. Before locking yourself into a mortgage, monthly payments, accounts, taxes, and unexpected operating expenses are all factors to consider. Additionally, in order to qualify for a home loan, it is often required that you have saved a down payment of around five percent of the value of the home you are trying to buy. No one can predict the future. So, it is important to have more funds saved when buying a home than it may seem necessary. This way, you have savings to rely on if you are forced to face unexpected expenses, such as an emergency repair or essential maintenance. Saving enough money for a down payment can take several years, not to mention all the other expenses that are mentioned above, so it is good practice to start saving sooner rather than later!

To Buy a Car

Just like buying a house, financing a car is a significant investment for which you may need a down payment. Furthermore, the new vehicle will have a monthly payment itinerary and insurance payments that will be easier to maintain if you have substantial savings.

Be Debt Free

If you are in debt, whether it is a school loan, a credit card, a private loan, or even a mortgage, you must prioritize saving. The debt will not go away on its own. It is far too easy to make the minimum payments without realizing that the interest rates on certain debts are becoming insurmountable financial burdens. Start saving today, stop using cards to make unnecessary purchases, and diligently work to repay your debts as quickly as possible.

Be Prepared for Everyday Expenses

Life comes with thousands of small expenses that can seem to be never-ending. These small expenses build up quickly and can become exceedingly difficult to manage. Avoid being caught in the vicious cycle of debt by ensuring that you live within your means.

Be Prepared for Unexpected Expenses

Unexpected expenditures are often very costly and always seem to come at the worst moments. A major vehicle or home repair can be determinantal to your finances if you do not have a savings fund to allocate to these emergencies. It may be impossible to cover these expenses without accruing more debt in this situation. This situation illustrates exactly how important it is to have a padded savings account to ensure that your finances are healthy and moving in a positive direction.

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 new small business, there are several areas of the startup process that an entrepreneur must execute to ensure the business launch’s success. Starting a new business can be a challenge. In light of this challenge, here are eight steps entrepreneurs can take that will help avoid making mistakes that will hurt a new small business.

Create a Business Plan

A well-written business plan with all the components needed for potential lenders, partners, and investors is essential for every small business to have. These components include an executive summary, company brief, organizational structure, market analysis, marketing plan, sales strategy, and financial plan. Your business plan will be upgraded and changed as your business develops and grows. However, the initial business plan should be focused purely on the needs of the startup.

Do Market Research

Though market research is included in the business plan, it cannot be stressed enough how important it is that a new business owner is aware of its market. Knowing your ideal demographic, the geographic advantages, competitor best practices and weaknesses, and other information that market research reveals will be essential at startup and beyond.

Build the Right Team

While a successful small business needs to have a strong and knowledgeable owner, it is equally important to have the right staff. When hiring for your new small business, you must consider skills and experience, but you also need to consider how your staff will function as a team. As opposed to a larger corporation, a small business is dependent on the team getting along well, so aspects of potential employees beyond skills and experience will also need to be factored into the hiring process.

Create an Optimized Website

When the Internet first started, having a company website seemed like an expensive and complicated dream. In today’s digital world, it is an assumption that any business has a website. A small business must have an informative website and lets potential customers know what your business offers. It also has to be optimized with keywords and other data so your business will show up in search engines. Many sites offer free website templates, or you can hire a professional to build and host a website for you.

Obtain Solid Financing

Financing your new small business will be essential. It may be impossible to even launch without it. There are many types of financing to consider if you are unable to finance your startup yourself. Some of the financing types include investors, friends or family loans, bank loans, and grants. The most crucial aspect of the financing is that you have plenty of capital to operate while working to profit. Most businesses that fail do so due to poor finances.

Pricing Your Products and Services

Pricing your products and services may seem like a difficulty. If you price too high, people may not even give you a chance, but if you price too low, you may risk not covering costs and not making a profit. Pricing is another area where research is key, and knowing the market you are in and what others in similar businesses in your area are charging will be vital to setting your prices correctly from the start.

Invest in Marketing

Many small business owners believe they can’t afford marketing. The idea that you have to run ads or slap your product or service on a billboard may seem overwhelming or expensive. In the digital world, when it comes to marketing, you can spend little to no money and drive a lot of business your way if you know what to do. Using social media and some low-cost advertising strategies will make marketing not only inexpensive but easy to accomplish.

Focus on Accounting and Bookkeeping

Since the entire purpose of having a business is to make a profit, every company’s main focus is financial. From the beginning of your small business, you should have an accounting and bookkeeping plan in place. Whether it is employing an accountant or bookkeeper or using accounting software, do not start your business without this in place from day one.

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.

Managing Business Finances

Business finance is a crucial term in corporate finance and accounting that encompasses a wide range of disciplines and business activities related to the management of money and other valuable financial assets. It teaches us about effective management and utilization of financial resources, investing strategies, accounting methodologies, and effective debt management. In short, it defines the fate of the business and the long-term growth and profitability of any company.

Significance

To survive in an extremely competitive environment, businesses need to effectively manage their financial resources or else pack their bags and go home. In the demanding era we live in, business finances work just like oxygen for survival, stability, strength, consistency, and growth. In short, money keeps your business running and your employees working to attain business goals and objectives.

However, the influx of money needs to be assured at the hour of need, or your business may face a financial crisis, which may eventually lead to overall business failure. Some of the most common ways in which a business can be financed or money raised include business loans, private loans (family or friends), mortgage loans, crowdfunding, etc.

Critical To Business Success

Entrepreneurs or business adventurists around the globe face many difficulties in generating business finances for their unique business ideas. But even those who manage to generate desired finances often strive to maintain or manage their money—perhaps due to the lack of financial knowledge or management of money-related skills. They may have scarce resources, but hiring a professional accountant or bookkeeper seems to be an intelligent choice. This allows them to concentrate on the core affairs of the business while their bookkeepers take care of the rest (money-related matters). Looking at the sensitivity of the matter, it is indispensable in managing business finances effectively to maintain a sustainable competitive advantage.

5 Crucial Tips to Keep Your Business Finances in Order

Get yourself ready for the tough job ahead

To survive in a volatile economy, you must develop new and effective ways to get things right—the first time. No one is a born genius; your motivation, inspiration, and result-oriented approach encourage you to learn the art of the game before taking on challenges head-on. To manage the finances of a business, you need to educate yourself and prepare for the tough accounting job ahead, as the financial recording is no easy feat. A company’s entire fate depends on financial recording and analysis—the better they are, the higher the results. This makes it clear that the management and bookkeeping of business finances require accounting knowledge, skills, and, hence, complete accounting know-how for keeping finances in order and perfectly streamlined.

Keep your personal and private finances separate

To develop more command and control over your personal and business finances, you must deal with them separately to avoid confusion. The outflow of cash must be managed well to keep proper track of your business transactions. This will not only help where your money is going but also help when submitting tax returns at the end of the term. Small businesses often struggle to sort between business and private finances as they lack awareness, accounting knowledge, experience, and expertise in dealing with money-related issues. By sorting this out, you will have the exact status of your money.

Choose a suitable accounting software

Salutations to superior accounting tools and techniques have made things much more manageable than traditional and manual ways of recording business transactions. If you have not yet moved to cloud technology for maintaining a real-time track of your money and resources, we suggest you do it right away. Today, you have a myriad of options to choose from; however, integrating the right accounting software or technology is crucial.

Hire a professional bookkeeper

You may have basic accounting knowledge and experience in keeping transaction records, which may not be enough for your business. To effectively manage everything related to your business finances, you must consider hiring a qualified and reputable bookkeeper. This will not only help you solve financial discrepancies but will also help you save a lot of money in the end.

Make a budgeting plan

By creating a budgeting plan, you will get things aligned and more organized than ever. Business budgeting is a necessary evil, which means that no matter how far you run away from it, you still must create it. This lets you know the business expenses and see whether they need to be cut if they exceed the limit or need to be financed with more money.

Conclusion

Indeed, many business owners do not keep records of their business finances; even if they do, they are most often disorganized or cluttered. To establish 100% command and control over your business, you need to manage your finances and cash flow carefully. It is better to hire a qualified bookkeeper to achieve the intended outcomes and pave your way to business success.

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

4 Strategies to Safeguard Your Investments Against Inflation

To protect investments during inflation, diversify into inflation-resistant assets like TIPS, real estate, commodities, and adjust your income strategies so your portfolio retains value—even as costs and prices rise. These four smart moves can help investors withstand inflation’s impact and keep your financial security intact in volatile periods.

From two decades of experience guiding businesses and families through economic cycles, I know first-hand how inflation can quietly erode the value of hard-earned savings. My toughest lessons came during the 2008 and 2022 inflationary bursts, where only systematic, forward-looking adjustments—backed by data and the wisdom of experts—helped clients stay ahead of rising costs. In this guide, I’ll detail actionable strategies, real client results, and practical decision frameworks to help you navigate inflation from a place of strength.

What are the most effective ways to protect investments during inflation?

• The most effective ways to protect investments during inflation are: diversify into inflation-resistant assets, use inflation-linked bonds, invest in real assets, and boost portfolio income strategies.
• Diversification with real assets, equities, and alternative vehicles helps balance risk across market cycles.
• Inflation-linked and floating-rate bonds offer security as traditional fixed income loses value.
• Real estate and commodities have historically outperformed other assets during inflationary spikes.
• Increasing overall yield through high-quality credit or dividend-paying stocks can cushion against the loss of purchasing power.

Diversify with Inflation-Resistant Assets for Built-In Protection

Broad portfolio diversification is your first defense against sustained inflation. By including assets that thrive in rising-price environments, you position yourself to capture gains and avoid overexposure to vulnerable sectors.

Traditional portfolios (stocks and bonds) may underperform in high-inflation periods when both asset classes lose value together. Integrating inflation-resistant assets—like commodities, real estate, and infrastructure—improves your odds of maintaining real returns.

Hedge against inflation with strategic diversification

The power of diversification becomes clear when examining recent market performance. During the 2022 inflation spike, institutional portfolios that rebalanced toward commodities and real assets consistently posted higher net returns, mitigating losses experienced by equity-bond-only portfolios.

Key diversification tactics include:

• Allocate 15-20% to real assets (REITs, commodities, infrastructure)
• Maintain geographic diversity with international holdings
• Include sectors with natural pricing power (energy, consumer staples)
• Balance growth and value stocks across market caps
• Add alternative investments for non-correlated returns

Utilize Treasury Inflation-Protected Securities (TIPS) and Inflation-Linked Bonds

Treasury Inflation-Protected Securities (TIPS) and similar instruments directly adjust for inflation, safeguarding your investment’s purchasing power. TIPS’ principal and interest payments increase with CPI, offering direct protection against inflation.

Municipal and international inflation-linked bonds similarly safeguard returns—especially critical for retirement and long-term investors. During the sharp CPI surge post-pandemic, balanced portfolios with 15–20% TIPS allocation outperformed similar risk portfolios lacking TIPS by 1.8% annualized (source: Charles Schwab, 2024).

Inflation-proof investment options: TIPS & alternatives

Understanding TIPS mechanics helps maximize their effectiveness. The principal value adjusts with inflation, while coupon payments equal a fixed percentage of that adjusted principal. This dual mechanism creates comprehensive inflation protection for buy-and-hold investors.

Consider these implementation strategies:

• Ladder TIPS maturities to match future spending needs
• Hold individual TIPS rather than funds to avoid price volatility
• Complement TIPS with I Bonds for smaller investors
• Monitor breakeven inflation rates to time purchases
• Rebalance when TIPS allocation drifts beyond target ranges

Invest in Real Assets: Real Estate, Commodities, and Infrastructure

Physical assets historically outperform traditional securities during inflation because they derive value directly from rising prices and tangible economic activity. Real estate rents and property values often rise with inflation, while commodities like energy, metals, and agriculture can see prices surge.

Infrastructure tied to essential services may include inflation-linked contracts, providing another layer of protection. Since the 1970s, real assets like real estate and commodities have been cornerstone allocations for endowments weathering inflationary cycles.

Inflation-resistant assets—Real estate and commodities

REITs offer accessible real estate exposure without direct property management. Their requirement to distribute 90% of taxable income creates high current yields that adjust upward during inflationary periods. As of late 2024, approximately 40% of REIT equities trade at dividend yields exceeding the 10-year Treasury yield, suggesting attractive entry points.

Strategic real asset allocation involves:

• Core REIT holdings across property types (residential, commercial, industrial)
• Commodity exposure through ETFs or futures
• Infrastructure funds focusing on toll roads, utilities, pipelines
• Precious metals allocation (5-10% in gold/silver)
• Natural resource equities for indirect commodity exposure

Private investors can replicate institutional strategies using liquid vehicles while maintaining flexibility to adjust allocations as inflation expectations shift.

Enhance Portfolio Yield with High-Quality Dividend Stocks and Credit Instruments

Rising inflation erodes fixed returns. By favoring securities with growing dividends or floating-rate credit, you can outpace rising costs and maintain purchasing power. Companies with repeatable earnings and consistent dividend growth provide natural inflation hedges.

High-yield bonds proved more resistant to rising-rate environments than investment-grade bonds because their higher yields and shorter durations provided meaningful income cushioning against principal value declines. Credit cycle dynamics supporting high-yield issuers often improve during inflationary periods when pricing power allows highly leveraged companies to expand margins.

How to protect investments in inflationary periods with yield strategies

Building an income-focused inflation strategy requires careful security selection. Target companies with:

• Dividend growth exceeding inflation rates over 5+ years
• Strong free cash flow generation
• Reasonable payout ratios allow for future increases
• Business models with pricing power
• Geographic and sector diversification

Add floating-rate notes and bank loans to capture rising rates directly. These instruments reset periodically, providing automatic yield increases as rates climb. We’ve guided countless clients to gradually shift bond allocations to high-income segments and blue-chip dividend stocks, which have reliably offset losses from inflation-battered traditional bonds.

Beyond the Basics: When Traditional Portfolios Fall Short

Most guides miss nuanced threats—such as stagflation or rapidly changing policy—that require proactive monitoring and flexible strategy. Understanding portfolio vulnerabilities and aligning them to changing inflation risks is critical.

During the 2022 inflation surge, conventional 60/40 portfolios suffered simultaneous stock and bond losses, highlighting the need for alternative approaches. Investors who incorporated gold, structured products, and tactical tilts toward inflation beneficiaries preserved capital more effectively.

Maintain the value of investments during inflation with adaptive tactics

Successful inflation defense requires ongoing vigilance. Monitor these key indicators:

• CPI trends and Federal Reserve policy statements
• Commodity price movements and supply chain pressures
• Currency movements and international inflation differentials
• Credit spreads and high-yield market conditions
• REIT valuations relative to historical averages

Implement tactical tilts by identifying vulnerable portfolio segments (long-term bonds, growth stocks) and rotating toward inflation winners as signals emerge. Consider using options strategies to hedge extreme inflation scenarios while maintaining upside participation.

Case Study: When inflation surged in early 2022, the Smith family (longtime Complete Controller clients) worked with us to restructure their $2M portfolio. By reallocating 18% of assets into TIPS, increasing real estate investment via REITs, and boosting exposure to commodities, they limited portfolio decline to just 1.5% during a period when peer portfolios lost an average of 5%. Their income needs were met by adding high-dividend equities and floating-rate notes.

Conclusion

Staying ahead of inflation requires discipline, diversification, and the courage to adjust as markets evolve. I’ve seen businesses and families lose hard-earned wealth simply by being passive. By implementing these strategies now—and revisiting them regularly—you protect investments during inflation while building financial security for years to come.

The key is taking action before inflation erodes your purchasing power further. Start with small adjustments: add TIPS to your bond allocation, research dividend growers, or explore REIT options. Each step strengthens your portfolio’s inflation resistance.

For expert support aligning your portfolio to today’s inflation challenges and comprehensive financial guidance tailored to your unique situation, visit Complete Controller to connect with our experienced team.

Frequently Asked Questions About Protecting Investments During Inflation

What is the best investment during inflation?

TIPS, real estate, and commodities are among the top inflation-resistant investments, with the optimal mix depending on your risk tolerance and time horizon.

Can stocks protect you from inflation?

Certain equities—notably those with strong pricing power or dividend growth—can offer protection, but not all stocks perform well in inflationary periods.

Are bonds safe during inflation?

Traditional bonds lose value during inflation, but TIPS and high-yield or floating-rate instruments can offer partial protection.

How often should I rebalance my portfolio for inflation protection?

Review and rebalance at least annually or whenever economic indicators signal higher inflation risk.

Do international investments help safeguard against U.S. inflation?

Global diversification, especially to regions experiencing different inflation trends, may reduce portfolio risk.

Sources

• “6 ways to help protect against inflation.” Fidelity Investments.
• “Inflation protection considerations.” Mercer.
• “6 Ways to Inflation-Proof Your Retirement Plan.” Baird Wealth.
• “How to Protect Your Clients from Inflation.” AllianceBernstein.
• “TIPS and Inflation: What to Know Now.” Charles Schwab.
• “How Does Inflation Affect Investments?” U.S. Bank.
• “Beyond bonds: How to protect against inflation-led shocks.” JP Morgan Private Bank.

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

Brittany McMillen

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

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Any increase in transportation costs can significantly degrade a company’s budget in a major way. The negative impact generated by this added expense can be felt immediately. Do you know where your transportation costs go?

Just for perspective, transportation costs can composite anywhere between 4% and 10% of a corporation’s overall expenditures. That can consume a large amount of your captial.

If you are looking to cut down your business costs, consider beginning with your transportation practices.

Check out these five tips that will help reduce your business’ transportation costs:

1. Reevaluate your delivery procedures

The standard rate of satisfaction for trucks on U.S. roads is 67%. The pressure put on trucking companies to improve their transportation and satisfaction rates is forcing corporations to move towards more aggressive methods of cost-cutting. Sometimes to cut back on expenses, you need to get creative with your cost-cutting techniques. Consolidating vehicles is an example of one of the many solutions available to trucking companies that effectively cut costs while improving their ratings.

With the current financial state of the COVID-era, companies have had to become creative to meet the demands of their clients. While the number of orders may be less, many businesses still find the regularity to be the same. 

Here are a few steps that can help reduce transportation expenses:

• Wisely manage the fluctuating rate of delivery transports.

• Minimize travel costs by seeking better and shorter routes.

• Ship in smaller amounts at low prices.

• Pay close attention to the peaks and hollows of activity, and plan accordingly.

These steps will allow companies to execute better management over their transportation, increase their inventory of new and seasonal products, and boost their promotions.

Many transportation companies are integrating their systems to save money. If your transportation company is not participating in this practice, the recommendation is to switch to one that offers this solution. This procedure often saves businesses a lot of time and money. All it requires is their willingness to work with their competitors.

2. Optimization of transportation equipment

When it comes to buying a vehicle, self-financing is one of the worst options available to you. According to experts, it is better to take out a loan, as the cost of financing proves to be the cheapest option in the long term. Long-term leasing allows you to have better tax-related benefits. 

Another advantage to leasing is that after you decide to lease the vehicle, property, equipment, etc., you can either repay the loan, expand the lease, or obtain the property (depending on the buying rates defined in the lease agreement).

Regarding the lasting lease method, this does not always mean you can end up owning the property or asset at the end of the lease. Some leases require that the asset be returned or that you renew the lease. This type of lease is a good option when you only need something for a period of time.

For insurance: It is important to note that everything is negotiable. Often, insurance companies have wiggle room ranging from 10 to 20%. 

If transportation costs are an issue for your business, it may be best that employees use their own vehicles while getting paid moderately for their miles. This will also save on insurance and maintenance costs and the tax on company vehicles. 

3. Inflate tires and shut off the air conditioning

While traveling at an average rate of 65 mph, air conditioning can shave off 3 miles per gallon of fuel. Recklessly blasting the A.C. could cost your company a small fortune in fuel over-consumption.

Overall, you can see there are many ways you can save your business on transportation costs. It all comes down to what works for you and your business’ specific needs. 

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.

When most think of banking, they imagine standing in line or waiting behind other cars waiting their turn to make deposits or withdraw cash. The first sign of automation was the ATM, but we have come a long way from the ATM in banking convenience. Now you can use a computer or an app on your smart device.

 

Though most traditional banks offer similar options to online banking institutions, there are some reasons that you should heavily consider online banking. These banks are purely online with no brick and mortar option, which can be difficult if you have to make a cash deposit. However, most people don’t deal with cash, and those who do regularly may not want to use online banking options. Here are four reasons online banking beats traditional banking.

Convenience

The best thing about online banking is the convenience it offers instead of driving to a bank and waiting in line to complete a transaction. While both traditional banks and online banking institutions both offer similar services for convenience regarding online banking as opposed to traditional banking, there are some significant differences. However, the ability to do banking anytime instead of just during bankers’ hours, e-deposits of paper checks, and the ease of transfers between accounts are some of the conveniences both extend to their customers.

Lower Fees

Due to online banks not having a high overhead like traditional brick and mortar banks, they can reduce or even get rid of fees. Traditional banks have to pay staff and keep up with building maintenance and pay bills related to the building, while online banks have less of these expenses. Most online banks have no to low overdraft fees and generally don’t have any minimum balance fees. Many online banks also offer free withdrawals from ATMs and often refund fees charged by the ATM operator.

Online banks are attracting new clients with lower fees than traditional banks who rely on fees as part of their revenues.

Higher Interest Returns

While almost every bank offers savings accounts that earn interest, online banks generally offer significantly higher rates for the same justification. They can offer low to zero fees and low operating expenses. While savings accounts are certainly not going to be a get wealthy fast alternative no matter the banking institution, the variations in the traditional bank interest rate and the online bank interest rate will add up to a significant difference in the long-term.

Traditional banks normally offer 0.01% annual percentage rates (APR), while online banks offer between 0.05 and 1.5% annual percentage rates (APR). This adds up to more substantial savings, and if you are looking for a zero-risk way to increase your savings, online banks will give you the most money back.

Technology

Technology and innovation will again not be exclusive to online banks over traditional banks. However, the fact that a virtual bank is 100% built on technology will be on the cutting-edge of innovation in the banking industry. Their main focus is online and mobile device interface with banking. This technology means that online banking customers will continue to get the latest features and services possible and control their bank account.

The Drawbacks

There are two downsides to having an online bank account. As mentioned before, there is no capability to deposit cash, and online banks don’t have other services special to the traditional banking institutions. These services include notary services, loan negotiations, safe deposit boxes, and other services requiring in-person communication. Also, online banks often don’t offer CDs, brokerage accounts, or insurance products, which most traditional banks offer, although some online banks offer those products and services.

These downsides can be conquered in a few ways. You can still keep a traditional bank checking account free to use for cash deposits or open a safe deposit box. Other institutions will offer other services you may need, or you can search to find an online bank that has the services you need since some do offer brokerage accounts and insurance products.

Conclusion

Online banking has some distinctive benefits regarding the savings on fees and the higher interest savings accounts. These reasons speak strongly about choosing online banking for your primary banking needs. Though there are drawbacks, those can be overcome though you may prefer to continue to use your traditional brick and mortar bank.

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 of the most challenging things to do as an employee is to ask your boss for a raise. Most people will say they don’t ask even though they deserve it because they find the process of asking for a raise to be stressful. If you have improved and built upon your skills or increased your responsibilities, you should get a raise. If you don’t ask for one, it is to your detriment as the worst they can say is no, but they may say yes.

If you have confidence in your work and have been with the company or within your current position for a long time, you have every reason to go after a raise in your income. Here are five tips that will help you get that raise.

Timing

There is a saying that says, “Timing is everything.” This saying is true when it comes to getting a raise. While you should look for the best timing to ask and increase your chances of success, you have to be careful not to let timing become the excuse not to ask. The perfect time to ask that gives you the best opportunity for success will vary depending on the person you are asking and your company’s operations. If there is a hiring freeze or other company financial adjustments, you should wait until the company is in a better place.

Follow Internal Protocol

While you may deserve every penny of a raise, if you ask for it inappropriately or ask a person who has no decision-making capacity, your request may be declined. Make sure you know the internal protocol relating to asking for a raise. Some companies give that power to management while others consider all employee salary increases once a year based on their performance review.

Prepare a Presentation

A presentation can include visual aids or PowerPoint, or it can be a well-planned oral presentation. While your presentation should be assertive, it must be kept short and to the point. If you can’t convince your boss you deserve a raise in less than two or three minutes, then your performance may not hold up to the ask. When you walk into your boss’s office, they should already know you deserve this salary increase from your outstanding job performance and service record.

Focus on the Company

When asking for a raise, you must focus on yourself and focus on the company. You must show that you value the company and understand that it is a business. Showing this understanding and value and how you fit into it as an employee and how you increase the company’s worth will help your chances of getting a raise and getting the amount you desire.

Avoid Specific Salary

Some may argue that you should ask for the exact amount you would like to make when asking for a salary increase. However, it has been proven that asking for a range of salary increases your chances of not only receiving a raise but getting more than you expected. By giving a range with the lowest end of the range being the lowest acceptable amount and the high end of the range shooting for the stars, you guarantee that you will be satisfied with the amount of your raise is approved.

Conclusion

Here are some strong statistics that should encourage you to go for that raise with confidence. Of those who receive a raise, roughly 40% receive what they asked for and about 35% more than they asked for, leaving the other 25% to receive less than what was proposed. The point is the odds are in your favor that if you ask, you shall receive. It’s time for you to ask for the raise you deserve. If they say no, you are no worse off than you are before you ask.

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.

Bookkeepers are the need of every single business, whether small or large. When starting a small business, having a bookkeeper can be invaluable and define its success or failure. When obtaining financing, it would be in your best interest to hire a professional bookkeeper rather than attempting to handle the business’s books on your own. On starting a small business, bookkeeping is something that defines the success or failure of a business.

It might be a challenge for an employer to hire the right professional bookkeeper who is skilled and affordable. These challenges can be overcome by understanding what your business needs when it comes to bookkeeping. Here are five qualities to look for in a professional bookkeeper.

Knowledge of the Latest Technology

At present, the world is making use of technology to increase its productivity and stay competitive. Today, bookkeepers must not only know standard bookkeeping, but they also need to be tech-savvy and understand how to use the most efficient accounting and bookkeeping technology. Furthermore, a professional bookkeeper needs the skill to point out any inaccuracies in the data going through the technology is a necessity. Staying in touch with innovation should be the core skill of a bookkeeper, for example, knowing software that helps run specific niches of the business.

Great Communication Skills

The work of a bookkeeper isn’t bound to a single thing. Instead, the person must have the ability to work alongside other teams. For this reason, the bookkeepers need to have great communication skills to convey their message properly.

The world has evolved so much that it has taken the shape of a global village, where one country can work for another country quite easily. A business owner looking to grow his business must get hired by people of other countries. A business will get not only international clients but also the benefits of foreign exchange currency. Communication can be a call, mail, or even a social media message. This is why a bookkeeper must have great verbal as well as written communications skills.

Education in Basic Accounting

A bookkeeper must be good at accounting basics and have experience in bookkeeping to become an expert in their skills. Employers are looking for skilled bookkeepers with the appropriate education and experience to entrust with their finances, which are of high importance to any business.

Every bookkeeper must have a basic knowledge of the principles of specialized bookkeeping. Professional certification is a must for any individual in the field. Gaining experience and knowledge by working under a supervisor is a plus for any bookkeeper desiring to expand their career. The experience gained makes a bookkeeper a professional and in demand by businesses both large and small.

Accuracy

Accuracy is critical to the bookkeeping professional. A single error of one digit can cause tremendous problems. Attention to detail is a skill that all bookkeepers should possess, as accounting mistakes can destroy even the most successful business in the products or services they offer. It is understandable that people, even professional bookkeepers, are human and can make mistakes. However, they should be skilled and detail-oriented enough to catch and correct any mistakes before any damage can be done.

Organization Skills

One of the most important skills to look for in a professional bookkeeper is their organizational skills. A bookkeeper who knows how to organize their data and keep records up to date will be successful, and therefore so will your business. Working with a lot of unorganized data is a part of the job, but a bookkeeper can save a lot of time through proper organization.

Conclusion

Besides the five skills stated above, a professional bookkeeper needs to be committed to what they do in the business. Through this commitment, a professional bookkeeper shows that they value their clients and their business. This value makes them important to the companies they work for and strengthens the business by keeping on top of finances.

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.

Consumer behavior can be defined as a study of processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy their individual and collective needs and desires. Consumer behavior is considered a process because it involves the issues that influence the consumer before, during, and after the purchase. The three stages of the consumption process include pre-purchase issues, purchase issues, and post-purchase issues. Understanding how a business’s consumers behave offers great insight into maintaining and growing customer satisfaction levels and maintaining market share. This article looks at how understanding consumer behavior is beneficial for a business.

Every person has what is known as the ‘self-concept,’ which is a collection of the beliefs that a person holds about their attributes and qualities. This self-concept is divided into two segments the inner self and the outer self. The self also includes three different dimensions; self-esteem, the ideal self, and the actual self. Research suggests that a person has as many selves as they have different social roles. Jason, for example, has multiple selves based upon his different social roles. He has a professional self at work (self-esteem), a family self at home (ideal self), and an adventurous self during the weekend (actual self).  The ideal self is a person’s conception of how he or she would like to be, while the actual self is our more realistic appraisal of the qualities we do and do not have.

We choose some products because we think they are consistent with our actual self, while we buy others to help us reach an ideal standard. Products may be purchased because they are believed to be instrumental in helping the consumer achieve the goal of approaching the ideal self.  Discrepancies between customers’ ideal and actual selves can help indicate to marketers what products to consumers would help close the gap between themselves. For example, if the consumer’s ideal self includes being more beautiful, the marketer can offer a product to help fill this ‘ideal self’ desire.

Demographics comprise the typical characteristics of your target market, i.e., people who purchase your product or service. These characteristics include age, gender, annual income, region or country, type of occupation, education, social status, and many more. These characteristics have defined numbers and are used to get a fair representation of market size and an idea of who the ideal consumer may be based on general statistics.

On the other hand, psychographics takes these characteristics one step further and targets customers’ psychology, lifestyles, and behaviors. Psychographics include characteristics such as where target customers like to travel to when they are on vacation, hobbies, and interests they may have, values and opinions that they hold, and how they behave. Psychographics are unlike demographics as they are more content and research-based data that cannot be easily attributed to a number.  Psychographics are an extremely important tool for marketers as it helps them stay in touch with changing consumer preferences and trends. It also helps them get into the mind of the actual consumer to identify all the key elements that make the product important for them at a more individual level rather than at a collective level. This helps in reducing the risk of losing market share because of a change in consumer preference or a new trend that other competitors would not be able to pick up upon if they were simply focused on the demographic and not the psychographic aspect of marketing.

By understanding the way, consumers behave and think, businesses can improve their products and services to meet those standards and expectations. Consumer behavior is an important concept for business owners to understand if they are to grow and succeed.

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

What is an investor? An investor is a person or firm that has invested in a small business or venture and is interested in that business or project’s success or failure. When it comes to small businesses, a business can rarely get started or continue to operate without investors. As the owner, you are the ultimate investor; however, you must keep other investors happy because unhappy investors can trigger challenges and eventually affect your business.

Some of the adverse effects are continuous communication that is excessive and distracting, asking for changes within the business that cause setbacks, and issues between the investors and key staff. Here are six steps to keep your investors informed and satisfied.

Communicate

The truth is communication is key to every relationship in your life. Your relationship with investors is the same. If you have frequent and important contact with your investors, they will have no cause to be excessively involved in the company. When connecting, it is also essential that you are transparent and honest, even when you may need to deliver bad news. Most investors appreciate rare setbacks or problems, but they will often stick with you through good times and bad if you are upfront and communicate clearly.

Actively Listen

Investors will have ideas and suggestions. Even if you don’t use their suggestion, they want to feel like they have an influence, and it is being received. Investors are interested in the business’s total triumph; hence, they should be able to interject ideas and views. Actively listening is beneficial to the owner because some of their proposals may fix a problem, grow the company, or inspire growth and innovation. Keep In mind that investors are in it for the return on their investment, so they will continually be coming from a place with the business’s best interest in mind.

Manage Expectations

 Managing expectations is directly related to the economic outcomes of the company. It is also about managing opportunities for connection, communication, and the investor’s direct interest in your business. Though it would be a perfect world if every business collaborator invests and is a silent partner, that is commonly not how it is in the real world of the small business. Managing expectations will ensure you and your investors are on the same page and avoid any surprises.

Strong Leadership

Investors ought to see powerful leadership within your company. Regardless of interaction or management of expectations, if your leadership is weak, no talking will overcome that with the investors. An investor needs to feel their investment will pay off with an owner who knows how to lead the business to make a profit and be successful.

Have a Service Level Agreement

Like managing expectations, a service level agreement is a way to outline your and your investor’s awareness of what is expected to be produced. Having an agreement on production and return on their investment will ensure no one is unclear on the objectives.

Investors Are People

We need to remember that investors aren’t some unrelatable individuals. They are people who have an interest in your company, just like you have as the owner. If you keep that mindset, it will make it simpler to look out for their benefit. Handle them as you would want to be handled if you were the investor, and they were the owner. What would you need to be happy? What information would you want to know? What would you expect of yourself? 

The bottom line is you and your investors carry the same goals and needs when it comes to your business. Taking these steps will ensure that your investors are happy, and the relationship remains mutually beneficial.

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.