Author: Jennifer Brazer

Every financially responsible adult generally has a budget. If you are not meeting that budget, it may be because you are overpaying for some of the bills or other items you purchase. When considering your monthly or yearly budget, you should look for ways to lower your payments instead of completely cutting out items. Here are three things you should stop overpaying for.

Cable

Entertainment is the number one area most people overpay. Many get cable packages with hundreds of channels, and studies show that people generally regularly watch about seventeen of them. There a few ways you can save money when it comes to cable.

Get a smaller cable package: Knowing that most people only watch a handful of channels, you should assess what channels mean the most to you and get a cable package that includes those channels and as few channels more as possible.

Use cable services you can customize: A few services will let you completely customize the included channels, so you can choose to leave out channels you never watch and keep only the ones you do.

Cut out cable altogether: Many have “cut the cable” and never regretted it. You can have multiple streaming services which generally carry many of the shows you love. If you add up the monthly subscriptions with access to hundreds of movies and shows, you can have them all and still pay far less than cable. Also, you can choose when you watch the shows.

Car Payment

Many people overpay for their car and often because car salespeople are good at what they do. You can, however, beat them at their own game with a few pro tips.

Never purchase payments: Often, when in the negotiation process, a salesperson will at some point ask you what kind of payment you can afford. This is where it gets tricky. Never give the maximum you can afford, and be sure they don’t come back and give you only the car payment and length of the loan. Even if the payments are comfortable, you may have agreed to pay significantly more than you should because of the length of the loan. Be sure to ask for the total cost of the car and the interest rate.

Get a Loan Yourself: Many people don’t realize that they can go to their banking institution and get a preapproved loan for a certain amount if they have decent credit. They can then look to purchase a car for that amount or lower using that preapproved loan. This is a way to get a super low-interest rate and no hidden costs in the car purchase because you strictly negotiate the price.

Boost your Credit: The higher your credit score, the lower the interest. If you have a good or great credit score, it gives you the negotiating power to get the lowest interest rates on your car loan possible. You can sometimes save thousands on your car purchase by having a low-interest rate.

Utilities

Of course, there are so many areas of life we can save or be more frugal, but utilities is an area most of us can stop overpaying. Here are a few ways you can save on your utilities.

Cut your usage: We all have been guilty of leaving lights and electronics on when not in use, but you can also cut your usage other ways besides remembering to turn things off. Many utility companies now offer thermostats built-in money-savers such as automatically adjusting the temperature for a few hours a day while you are at work, or less likely to need cooler or warmer air. You would be amazed at how that adds up.

Payment plans: Many utility companies have payment plans in which you pay the same amount every month at a fixed rate. This payment plan is generally an average calculated by the previous year’s usage. If you don’t use as much as you paid, you get the money back or get it as a credit on our account at the end of the year. If you overuse, you will have a balance due. Most find they will use less with this type of payment arrangement.

Conclusion

While there are many areas we can save in our budget, these areas are usually the three all household budgets include. However, now that you have your mind on not overpaying, you shouldn’t. Look at other areas you can adjust. You may be surprised at how naturally thrifty you are!

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.

A money-laundering specialist is a financial industry professional who focuses on preventing and detecting money laundering activity. Many of these specialists belong to professional organizations and carry credentials to increase their employability. Others can get their job training and rely on experience when applying for a job. Banks regularly use anti-money laundering specialists, as do law enforcement agencies and agencies charged with implementing government policy.

This work requires knowledge of the laws of a specific country related to money laundering. Anti-money laundering specialists are familiar with all the law details, including the responsibilities of individual financial institutions. In banks, these people train other personnel, help establish compliance policies, and cooperate with the police when investigations arise. Their work includes everything from reporting on the client’s activity suspected of helping bank branches to train their staff to know how to submit reports by the law.

The anti-money laundering specialist is also often trained to search for money laundering signs and take appropriate measures. Even if the activities do not need to be reported to the government, they can be tracked internally so the bank can monitor clients of concern. Reports from government agencies can be prepared with a collection of information about clients. The anti-money laundering specialist helps define, establish, and reform the bank’s policy to deal with the financial industry, changes in the law, and the community.

In law enforcement agencies, anti-money laundering specialists review reports submitted by banks, insisting those interested in further evaluation. They can also help banks with legal compliance and provide assistance and training to help banks identify money laundering and take action. This work may also include the education of untrained law enforcement officers who wish to work in a working group on financial crimes. In other government agencies, these professionals create sound, comprehensive policies to combat money laundering.

A problem with financial crimes is that people tend to be highly adaptable when adjusting their behaviors and habits, to reduce the risk of being caught. As the law changes, people change tactics, making it difficult to track their activities. Specialists against money laundering have to think like their goals to accurately and quickly identify interest’s financial activities. The anti-money laundering specialist also needs to be alert to bribery and corruption within a bank or government agency. People are paid to look the other way when financial crimes occur.

• Some professionals focus on the prevention and detection of practices that represent money laundering.
• A money-laundering specialist should be alert to issues such as bribery and corruption.

Anti-money laundering compliance tools

Technology is an integral part of the anti-money laundering compliance framework. Companies can mitigate financial crime risks well by using such tech-savvy tools. There are multiple propriety AML automated tools and tricks available that are so much helpful.

These tools are a combination of financial services, risk, information, technology, and regulatory subject matter experts. They have lots of iterations and advantages due to the cumulative information of anti-money laundering experts. With these gadgets, clients can cope all of their complex AML compliance challenges.

Those anti-money laundering compliance tools are:

• Computer-assisted tool for subject and investigation – There is web integration in it. It facilitates AML compliance, trade surveillance, operational risks, management of the anti-fraud case, and AML transaction tracking.
• Entity matching or name matching tool – They are scoring tools with sophisticated matching and techniques. With it, you can improve the searching system of transaction and account details, including business lines. In this way, there will be a single client view that advances your name or entity screening, such as OFAC, PEP, etc. It also involves matching methods such as ad-hoc searches, NSL, subpoenas, etc.
• Due diligence tool for the customer – Website is its foundation. It works as a risk rating and a single data entry point. It is highly useful for all customers and accounts details supporting Know Your Customer (KYC). The captured account data and additional clients include directors/officers of financial institutions, co-signers, ultimate beneficiaries, power of attorney, and the other associated parties.

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

An administrative cost is a type of business expense that has to do with expenditures related to the company’s operations as a whole and do not identify with a specific department. These administrative expenses have to do with the general maintenance of corporate records; an administrative cost helps to account for the indirect expenses that impact the business’s operations instead of focusing on a single business area. Companies of almost any size will have administrative expenses that provide support and benefit for the business operations as a whole and are not limited to just a small segment of the company.

Generally, an administrative cost is any expense that does not directly correlate with the business operation’s production aspects. Similarly, this type’s expenses also do not include direct costs associated with marketing or financing business efforts. Instead, these costs typically encompass tasks that impact all aspects of the operation, including production, marketing, and financing functions.

One of the most common examples of an administrative cost is the salaries of corporate executives. Although most executives have assigned tasks within the business operations, the tasks are usually broader than those of the employees who are specifically assigned to work in the production line. Similarly, the tasks associated with the supporting departments, but still critical to support production, marketing, and financial aspects, are generally classified under services’ general heading. Some examples of general services include day-to-day management of the company’s accounting records, labor relations, loss prevention, and supply and inventory functions.

Although not connected to a specific department within the corporate structure, monitoring administrative costs is important for its general and financial well-being to maintain control of the most direct costs. When there is a need to reorganize a company’s structure to reduce expenses and allow the company to continue during an economic downturn or the change in consumer demand that restricts production to arrive measured, there is the possibility that some changes in expenses associated with the administration or in general services will also be carried out. It is especially true if assessing the company’s structure reveals that the two executives’ tasks can be managed successfully by one.

Company benefits, administrative worker’s salaries, rent, and managerial compensation all come under administrative expenses. They are all direct accounting costs as they don’t relate to product manufacturing, such as engineering and assembly line workers. There is great involvement in the income statement. It will come under the paid condition. In the context of the tech startup, business becomes advance and expand. As a result, administrative expenditures help proportionality and stability. It occurs when front-line engineers and workers line up in size. The production level increases and the development of the latest revolutionary software or hardware came into existence.

Different administrative expenses have different categories. The main two types are administrative and non-administrative expenses. The first one includes the managerial team, rent of equipment & building, executive compensation, IT team, etc. The second one includes the sales team, developers, manufacturers, and engineers. You will consider the reason for business operational, sales, and administrative expenses during budgeting and forecasting. You can allocate the capital and increase the business by learning expense growth and staying stagnant. In this way, investors will notice your managing capital, the standard of business knowledge, and your style of allocating and scaling business resources.

Learn administrative expenses from the investor’s point of view for the best decision making. Such expenditures help contextualize the cost of the purchased product. It is a better way to increase the savings of investors.  You will also know about the exact proportion of all company expenses, including cash position.

Whether your business activities are sustainable for financial tensions, qualify and learn about the potential investment. If you want a business success and become a savvy investor, you know the company’s way of managing administrative expenses.

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.

Pros and Cons of Freelancing: What You Need to Know

Freelance pros and cons include flexibility and autonomy, balanced against financial instability and the absence of traditional employee benefits. The freedom to set your own schedule, choose clients, and work from anywhere comes with trade-offs like unpredictable income, self-managed health insurance, and the need to handle every aspect of your business operations.

When I launched Complete Controller over 20 years ago, I experienced firsthand the exhilarating freedom and daunting challenges of working independently. Today, with 76.4 million Americans choosing freelance work—a number projected to reach 90.1 million by 2028—understanding both sides of this career path has never been more critical. In this comprehensive guide, I’ll share hard-won insights from working with thousands of businesses and freelancers, covering everything from building financial stability to maintaining mental wellness, plus strategies for creating a sustainable freelance career that aligns with your personal and professional goals.

What are the pros and cons of freelancing?

• Answer: Freelancing offers schedule flexibility, location independence, and project variety, but requires managing irregular income, sourcing your own benefits, and handling all business operations
• Flexibility advantages include setting your own hours, choosing projects that match your skills, and working from any location with internet access
• Financial challenges encompass unpredictable monthly income, quarterly tax payments, and the absence of employer-sponsored retirement plans or health insurance
• Professional development accelerates through diverse client work but demands continuous self-education and skill upgrading to stay competitive
• Work-life balance improves through schedule control yet requires strict boundary-setting to prevent burnout from always-available client expectations

The Flexibility Revolution: Major Advantages of Freelancing

The freedom to design your workday around your life rather than the reverse stands as freelancing’s most compelling benefit. As someone who’s built a business while raising a family, I can attest that this flexibility transforms how you approach both personal and professional commitments.

Control over your schedule and productivity

Freelancers gain the power to work during their peak performance hours, whether that’s 5 AM or midnight. This autonomy allows you to schedule client meetings around school pickups, exercise when gyms are empty, and take vacation days without submitting requests. According to recent data, this scheduling freedom contributes to why freelancers report 36% higher job satisfaction than traditional employees.

The ability to batch similar tasks, take breaks when needed, and eliminate commute time adds up to significant productivity gains. Many freelancers find they accomplish more in 25-30 focused hours than they did in a 40-hour office week filled with meetings and interruptions.

Location independence and lifestyle design

Breaking free from geographic constraints opens doors to lifestyle choices previously impossible. Digital nomads work from Bali one month and Barcelona the next, while others simply enjoy the freedom to relocate without changing jobs. This location flexibility extends beyond exotic destinations—it includes working from your backyard, favorite coffee shop, or home office designed exactly to your specifications.

The elimination of commuting alone saves the average freelancer 54 minutes daily, translating to over 200 hours annually. That’s five extra work weeks you can redirect toward billable hours, personal development, or quality time with loved ones.

Diverse projects and accelerated skill development

Unlike traditional roles that often stagnate, freelancing exposes you to varied industries, technologies, and business models. A freelance marketing consultant might develop campaigns for tech startups, nonprofit organizations, and e-commerce brands within the same month, rapidly expanding their expertise and portfolio.

This project diversity creates a compound learning effect. Each client brings unique challenges that stretch your capabilities, while cross-industry experience generates innovative solutions that set you apart from specialists confined to single sectors.

Financial Opportunities and Income Potential

The earning ceiling for freelancers extends far beyond traditional salary caps, but realizing this potential requires strategic planning and disciplined execution.

Breaking through salary limitations

Top freelancers command premium rates that often exceed executive salaries. Specialized consultants charge $200-500 per hour, while experienced developers and designers routinely bill $150+ hourly. Without layers of management capturing value, freelancers keep 100% of their earnings minus business expenses and taxes.

Building to these rates requires patience and proof of results. Start by researching industry standards on platforms like Upwork, then gradually increase rates as you accumulate testimonials and case studies demonstrating your impact.

Creating multiple revenue streams

Smart freelancers diversify beyond hourly billing. Consider these income expansion strategies:

• Retainer agreements provide predictable monthly income from ongoing client relationships
• Digital products like templates, courses, or ebooks generate passive revenue
• Affiliate partnerships with tools you already recommend add commission income
• Subcontracting allows you to scale beyond personal capacity while maintaining quality

A web designer I know through Complete Controller combined client projects with Etsy template sales, generating 40% passive income within one year. This cushion protected her business during a major client loss, demonstrating the power of income diversification.

Navigating the Financial Tightrope: Key Challenges

While freelancing’s income potential excites, the financial realities demand serious consideration and proactive management.

Managing irregular income and cash flow

The feast-or-famine cycle affects 63% of freelancers, with 40% experiencing payment delays that strain budgets. Unlike steady paychecks, freelance income fluctuates based on project timelines, client payment terms, and seasonal demand.

Creating financial stability requires building systems:

• Maintain separate business and personal accounts
• Invoice immediately upon project completion
• Implement late payment fees and deposit requirements
• Build an emergency fund covering 3-6 months of expenses
• Use cash flow management tools to project income gaps

Self-employment tax obligations

Freelancers face a 15.3% self-employment tax on top of regular income taxes, often catching new independents off-guard. Without employer withholding, you’re responsible for quarterly estimated payments to avoid penalties.

I recommend setting aside 30-35% of every payment for taxes. Open a dedicated high-yield savings account for tax reserves, and consider working with a freelancer-savvy accountant who understands deductions like home office expenses, professional development, and equipment purchases.

How to Build Financial Stability as a Freelancer

Creating predictable income from unpredictable work requires strategic planning and disciplined execution. Through my work with thousands of independent professionals, I’ve identified key strategies that separate thriving freelancers from those constantly stressed about money.

Implementing the 50/30/20 budget framework

Adapting traditional budgeting for variable income starts with percentage-based allocations rather than fixed amounts:

• 50% for necessities: Rent, utilities, insurance, minimum debt payments
• 30% for business growth and discretionary spending: Marketing, tools, personal enjoyment
• 20% for savings and taxes: Emergency fund, retirement, quarterly tax payments

Calculate percentages based on your average monthly income over the past year, adjusting quarterly as your earnings evolve. Digital tools like YNAB or Complete Controller’s budgeting templates help track these allocations automatically.

Building your financial safety net

Freelancers need larger emergency funds than employees due to income volatility and benefit gaps. Target these financial milestones:

1. Months 1-6: Save $1,000 starter emergency fund
2. Months 7-12: Build to 3 months of expenses
3. Year 2+: Expand to 6-9 months of coverage
4. Ongoing: Contribute to retirement accounts (SEP-IRA or Solo 401(k))

Automate transfers to savings immediately upon receiving payments, treating savings like a non-negotiable business expense.

The Hidden Challenges: Benefits and Security

The absence of employer-provided benefits represents freelancing’s most significant financial hurdle, requiring proactive planning to avoid coverage gaps.

Securing health insurance and protection

Without employer-sponsored coverage, freelancers face average health insurance costs of $456 monthly for individual plans. Options include:

• Health Insurance Marketplace plans during open enrollment
• Professional associations like Freelancers Union offering group rates
• Spouse or partner’s employer coverage if available
• Health sharing ministries for qualifying individuals

Beyond health insurance, consider disability insurance to replace income if injury or illness prevents work. Long-term disability coverage costs 1-3% of annual income but provides crucial protection for your primary asset—your ability to earn.

Planning for retirement without employer matching

Freelancers miss out on employer 401(k) matching but gain access to potentially superior retirement vehicles:

• SEP-IRA: Contribute up to 25% of net self-employment income
• Solo 401(k): Higher contribution limits for those without employees
• Roth IRA: Tax-free growth for qualified withdrawals
• Traditional IRA: Immediate tax deductions for contributions

Starting retirement savings early leverages compound interest. Even $200 monthly invested at 7% annual return grows to over $500,000 in 30 years.

Combating Isolation and Maintaining Mental Wellness

Working independently challenges mental health in ways traditional employment doesn’t. Without built-in social structures, freelancers must intentionally create connection and boundaries.

Building community and professional networks

Combat the loneliness affecting 52% of remote workers through deliberate community building:

• Co-working spaces provide office energy without corporate constraints
• Professional meetups connect you with peers facing similar challenges
• Virtual co-working sessions via Focusmate recreate body doubling benefits
• Mastermind groups offer accountability and strategic feedback
• Industry conferences expand networks while sharpening skills

At Complete Controller, we host monthly virtual coffee chats connecting our remote team members. These informal gatherings build relationships that make distributed work sustainable long-term.

Setting boundaries to prevent burnout

The freedom to work anytime easily becomes working all the time. Protect your mental health through structure:

1. Define office hours and communicate them to clients
2. Create physical boundaries with dedicated workspace
3. Use time-blocking to batch similar tasks
4. Schedule regular breaks using Pomodoro Technique
5. Plan quarterly recharge weeks with zero client work

I learned this lesson personally when early Complete Controller growth had me working 70-hour weeks. Now I schedule quarterly retreats where I disconnect completely, returning refreshed and creative.

Freelancing vs. Full-Time: Making the Right Choice

The decision between freelancing and traditional employment isn’t binary—many professionals blend both models throughout their careers.

Evaluating your risk tolerance and life stage

Consider these factors when assessing freelance readiness:

• Financial cushion: 6+ months expenses saved reduces transition stress
• Market demand: Research rates and competition in your specialty
• Personal obligations: Mortgages and dependents increase stability needs
• Growth trajectory: Freelancing accelerates some careers while limiting others
• Lifestyle priorities: Value flexibility over predictability?

From 2017 to 2024, U.S. freelancers grew from 57.3 million to 76.4 million—a 33% increase reflecting changing work preferences and technology enabling remote collaboration.

Hybrid models: The best of both worlds

Many professionals start with hybrid approaches:

• Side freelancing while employed tests market viability
• Part-time employment plus freelancing balances stability with freedom
• Seasonal freelancing capitalizes on industry cycles
• Project-based consulting between full-time roles

One developer client maintained 20 hours weekly at a startup while building his freelance practice. This provided health insurance and steady base income during his 18-month transition to full independence.

Final Thoughts: Your Path to Freelance Success

After two decades of building Complete Controller and supporting thousands of independent professionals, I’ve learned that successful freelancing requires equal parts courage and calculation. The freedom to control your schedule, choose meaningful projects, and uncap your earning potential makes the challenges worthwhile for those prepared to manage them.

The key lies in building robust systems—financial buffers to weather income fluctuations, operational processes to maintain professionalism, and personal boundaries to sustain long-term wellness. As AI tools reshape the freelance landscape, adaptability becomes even more critical. Top performers who previously commanded premium rates now face 1.7% income drops as automation handles basic tasks, making specialized expertise and relationship-building more valuable than ever.

Ready to take control of your professional future? Visit Complete Controller for expert guidance on freelance financial management, tax strategies, and business growth resources designed specifically for independent professionals like you.

FAQ

What percentage of income should freelancers save for taxes?

Save 30-35% of gross income for federal and state taxes, including the 15.3% self-employment tax. High earners may need to reserve up to 40% depending on their tax bracket and state regulations.

How long does it take to build a sustainable freelance income?

Most freelancers need 12-18 months to establish steady client relationships and predictable income. Building to full income replacement typically takes 2-3 years of consistent effort and strategic growth.

What are the best health insurance options for freelancers?

The Health Insurance Marketplace offers subsidized plans based on income, while professional associations like Freelancers Union provide group rates. Many freelancers also explore health sharing ministries or maintain coverage through a spouse’s employer plan.

Can freelancers qualify for business loans or mortgages?

Yes, but you’ll need 2+ years of tax returns showing consistent income. Lenders typically average your net earnings and may require larger down payments. Maintaining detailed financial records through proper bookkeeping strengthens your applications.

How do successful freelancers find high-paying clients?

Top freelancers build referral networks, showcase expertise through content marketing, and leverage platforms like LinkedIn for direct outreach. Specializing in specific industries or services allows premium pricing, while delivering exceptional results generates word-of-mouth growth.

Sources

• Bureau of Labor Statistics. “Self-Employment Statistics.” www.bls.gov
• Complete Controller. (2025). “Freelancer Financial Management Guide.” www.completecontroller.com
• Edelman Intelligence. (2024). “Freelance Forward Report.” www.upwork.com/research/freelance-forward-2024
• Everly Life. (2024). “Survey Reveals Financial Challenges and Perks of Freelancing.” Small Biz Trends. www.smallbiztrends.com/everly-life-financial-challenges-freelancers
• Exploding Topics. (2024). “Number of Freelancers (2024).” www.explodingtopics.com/blog/number-of-freelancers
• FlexJobs. (2024). “20 Pros and Cons of Freelancing.” www.flexjobs.com
• Freelancers Union. (2023). “Freelancer Guide To Health Insurance.” www.freelancersunion.org/the-freelancers-guide-to-health-insurance
• Hui, X. (2025). “Generative AI Is Upending Freelance Work.” INFORMS. www.informs.org
• IRS. “Small Business and Self-Employed Tax Center.” www.irs.gov/businesses/small-businesses-self-employed
• Magic/Microgigs. (2024). “The Freelancer’s Guide to Managing Multiple Income Streams.” www.magic.microgigs.ai
• Remote. (2023). “Global Freelancer Report.” www.remote.com/blog/freelancer-hub/freelancer-report
• Upwork. (2024). “How Is Being a Freelancer Different From Being an Employee?” www.upwork.com
• Wishup. (2025). “10 Pros and Cons of Being a Freelancer.” www.wishup.com
• Xero Blog. (2024). “Predictive Invoicing Case Study.” www.xero.com/blog

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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By: Jennifer Brazer

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

Fact Checked By: Brittany McMillen

Protect Yourself From Credit Card Fraud & Identity Theft

Credit card fraud involves unauthorized use of payment information to steal funds or make fraudulent purchases, affecting millions of Americans annually with the U.S. accounting for 42% of global fraud losses despite handling only 25% of worldwide card transactions[10]. This disproportionate impact stems from slower adoption of security technologies and increasingly sophisticated criminal tactics targeting both individuals and businesses.

Over my 20 years as CEO of Complete Controller, I’ve witnessed firsthand how payment fraud devastates small businesses—from a client who lost $50,000 to a single phishing scheme to another whose entire customer database was compromised through a point-of-sale breach. This guide shares battle-tested strategies that have protected thousands of our clients, including real-world case studies of businesses that reduced fraud by 60% using biometric authentication and AI-powered monitoring systems. You’ll discover actionable steps to safeguard your finances, spot early warning signs of identity theft, and implement enterprise-grade security measures that actually work without breaking your budget.

What is credit card fraud & identity theft?

• Credit card fraud and identity theft involve criminals stealing payment information or personal data to make unauthorized purchases, open fake accounts, or drain bank funds
• Credit card fraud specifically targets payment card details through skimming devices, data breaches, or online phishing to make fraudulent transactions
• Identity theft goes beyond cards to steal Social Security numbers, addresses, and personal information used to impersonate victims for financial gain
• Modern threats include AI-powered deepfakes, emulator attacks that bypass security, and Fraud-as-a-Service platforms selling stolen data
• Financial impacts range from immediate monetary loss to long-term credit damage, with businesses facing average losses of $15,000 per incident

Understanding the Scope of Payment Fraud

The payments fraud epidemic has reached crisis levels, with 80% of organizations experiencing attempted or successful fraud attacks in 2023—a staggering 15% increase from the previous year[2]. What makes this particularly alarming is that 30% of victimized businesses never recover their stolen funds, creating devastating impacts on cash flow and operations.

Small and medium businesses face unique vulnerabilities compared to larger corporations with dedicated fraud departments. Criminals specifically target smaller operations knowing they often lack sophisticated detection systems or dedicated security personnel. The average fraud loss for businesses under $50 million in revenue has climbed to $280,000 per incident, enough to force many into bankruptcy.

Government benefits fraud exemplifies how criminals adapt their tactics, with fake benefit claims using stolen identities surging 68% to reach 102,205 reports in 2023[3]. This shift demonstrates how fraudsters constantly evolve their methods, moving from traditional credit card theft to exploiting public assistance programs and pandemic relief funds.

Modern Payment Security Tools That Actually Work

Tokenization technology stands as your first line of defense against payment fraud, replacing sensitive card numbers with unique encrypted tokens during every transaction. Major providers like Apple Pay and Google Pay utilize this system, which prevented over $2 billion in potential fraud losses last year alone[4]. When you use tokenization, hackers who breach a merchant’s database find only worthless token strings instead of actual card numbers.

3D Secure 2.0 authentication adds biometric verification to online purchases without disrupting the checkout experience. This upgraded protocol analyzes 150+ data points including device fingerprints, purchase history, and location data to authenticate legitimate transactions while flagging suspicious ones[4]. Merchants implementing 3DS 2.0 report 25% fewer chargebacks and 40% reduction in cart abandonment compared to older verification methods.

AI-powered anomaly detection represents the cutting edge of fraud prevention, with machine learning algorithms analyzing millions of transaction patterns to identify threats in real-time[5]. JPMorgan Chase’s implementation of AI fraud detection reduced false positive alerts by 35% while simultaneously improving actual fraud catch rates—proving that advanced technology can enhance both security and customer experience[5].

Dual control authorization policies require two separate employees to approve any transaction exceeding predetermined thresholds, creating an internal checkpoint against both external fraud and employee theft[1]. Complete Controller helped a manufacturing client implement dual controls for all ACH transfers over $5,000, preventing a $75,000 wire fraud attempt when the second approver noticed irregularities in the payment request.

Case study: Biometric success at scale

BMA International’s deployment of fingerprint authentication across 1,100 retail locations virtually eliminated point-of-sale fraud within six months of implementation[6]. Their system replaced traditional PIN entry with biometric scanning, removing the vulnerability of stolen or guessed passwords while speeding up transaction times by 3 seconds on average.

• Initial investment: $2.2 million for hardware and integration
• Fraud reduction: 99.7% decrease in POS-related incidents
• ROI achieved: 14 months through fraud loss prevention
• Customer satisfaction: 87% preferred biometric over PIN entry
• Staff training time: 2 hours per employee

Detecting Identity Theft Before It Destroys Your Credit

Daily account monitoring forms the foundation of early fraud detection, yet studies show only 31% of consumers check their accounts more than once per week[8]. Setting up real-time transaction alerts through your bank’s mobile app takes less than five minutes but provides immediate notification of any suspicious activity.

Credit freezes offer powerful protection against new account fraud by preventing criminals from opening credit lines in your name[6][7]. Unlike credit monitoring services that only alert you after damage occurs, freezes block access entirely until you provide a unique PIN to temporarily lift the restriction. All three major bureaus—Equifax, Experian, and TransUnion—must legally provide free freeze and unfreeze services within one business day of your request.

Physical document security remains critically important despite our digital age, as dumpster diving for discarded financial statements continues to fuel identity theft[6]. Invest in a cross-cut shredder (not strip-cut) for destroying any documents containing account numbers, Social Security information, or medical records. Professional thieves can easily reassemble strip-shredded documents, but cross-cut pieces measuring 5mm x 15mm or smaller meet federal privacy protection standards.

Two-factor authentication (2FA) should be mandatory for every financial account, email service, and business application containing sensitive data[3]. Modern 2FA goes beyond simple SMS codes to include:

• Authenticator apps generating time-based codes
• Biometric verification through fingerprint or facial recognition
• Hardware security keys for maximum protection
• Push notifications requiring in-app approval
• Backup codes stored in secure password managers

Emerging Threats Requiring Immediate Attention

Deepfake technology has weaponized artificial intelligence to create convincing audio and video impersonations used in sophisticated social engineering attacks[1][5]. Criminals now use AI-generated voices to impersonate executives authorizing wire transfers or family members claiming emergency financial needs. One Fortune 500 company lost $43 million when fraudsters used deepfake audio to convince the finance department to transfer funds to a “supplier” account.

Emulator attacks represent the next evolution in payment fraud, with criminals creating virtual copies of legitimate payment devices to bypass security protocols[8]. These sophisticated attacks can defeat traditional fraud detection by perfectly mimicking authentic device behaviors and transaction patterns. Financial institutions report emulator-based fraud attempts increased 312% in 2024 alone.

Fraud-as-a-Service (FaaS) platforms operating on the dark web have democratized cybercrime by offering complete fraud packages to anyone willing to pay[5]. These services include:

• Phishing kit generators with convincing bank templates
• Stolen identity packages with full personal profiles
• Money mule recruitment networks
• Cryptocurrency laundering services
• 24/7 technical support for criminal operations

Protection against these emerging threats requires layering multiple security measures rather than relying on any single solution. Complete Controller’s security framework combines AI monitoring, behavioral analytics, and human verification to create defense-in-depth against evolving attack vectors.

Building Bulletproof Digital Infrastructure

Network security forms the foundation of fraud prevention, yet many businesses still operate with default router passwords and unencrypted connections[6][7]. Start by changing all default credentials on routers, modems, and access points to complex passwords containing at least 16 characters mixing uppercase, lowercase, numbers, and symbols.

Public Wi-Fi networks present extreme risk for any financial activity, as criminals easily intercept unencrypted data transmissions[6][7]. When remote work requires public network access, always use a reputable VPN service that provides:

• Military-grade AES-256 encryption
• No-logs policy verified by third-party audits
• Kill switch functionality if connection drops
• Multiple server locations for redundancy
• Dedicated IP addresses for banking access

Software patching schedules must be aggressive and non-negotiable, as criminals exploit known vulnerabilities within days of public disclosure[1]. Implement automated patching for operating systems, browsers, and security software while maintaining a manual review process for critical business applications. Our analysis shows that 67% of successful breaches exploit vulnerabilities patched more than 90 days prior.

Payment processing systems require special attention with monthly security audits checking for:

• PCI-DSS compliance across all payment touchpoints
• Encrypted storage of any retained card data
• Access logs showing every system interaction
• Tokenization implementation for recurring payments
• Regular penetration testing by qualified assessors

Swift Response Protocols for Fraud Incidents

The first 48 hours after discovering fraud determine your recovery success rate, making immediate action absolutely critical[7][8]. Contact your card issuer within 2 business days to maintain full protection under federal regulations—delays beyond 60 days can leave you liable for unauthorized charges.

Documentation requirements for fraud disputes include specific evidence types that strengthen your case:

• Transaction screenshots showing amounts, dates, and merchant details
• IP address logs proving your location during disputed charges
• Communication records with merchants about unauthorized transactions
• Police reports filed with local law enforcement
• Affidavits detailing the fraud discovery timeline

Credit bureau notifications trigger extended fraud alerts lasting up to 7 years when you provide valid police reports or FTC identity theft documentation[7][6]. These alerts require potential creditors to take extra verification steps before opening new accounts, creating a critical barrier against ongoing identity theft attempts.

Legal consultation becomes necessary when fraud losses exceed $10,000 or involve business accounts with complex liability structures. Specialized financial fraud attorneys can pursue civil recovery actions against negligent payment processors or merchants who failed to implement reasonable security measures. Complete Controller maintains relationships with fraud recovery specialists who have helped clients recover over $3 million in stolen funds through aggressive legal action.

The Human Factor: Training Your Last Line of Defense

Employee education programs must go beyond annual compliance videos to create genuine security awareness throughout your organization[2]. Interactive workshops simulating real phishing attempts and social engineering tactics prove 300% more effective than passive training methods at preventing successful attacks.

Regular security drills should test employee responses to common fraud scenarios:

• Urgent wire transfer requests from “executives”
• Vendor payment detail changes via email
• Password reset requests from IT imposters
• Gift card purchase demands for “clients”
• Pressure tactics claiming system compromises

Vendor vetting procedures protect against supply chain fraud where criminals pose as legitimate service providers[2]. Require all payment processors, IT vendors, and financial service providers to maintain:

• Current PCI-DSS compliance certificates
• Cyber liability insurance minimums of $5 million
• Third-party security audit results
• Data breach notification agreements
• Specific liability allocation for fraud losses

Creating a security-first culture means rewarding employees who identify potential threats rather than punishing those who fall for sophisticated attacks. Our most successful clients implement “catch a phish” programs offering small bonuses for reporting suspicious communications, turning security from a burden into an engaging team activity.

AI and Biometrics: The Future Is Already Here

Real-time risk scoring powered by machine learning analyzes dozens of factors instantaneously to assign fraud probability scores to every transaction[5]. Advanced systems evaluate:

• Geographic location mismatches
• Device fingerprint changes
• Unusual transaction velocities
• Behavioral pattern deviations
• Cross-channel activity anomalies

These AI systems learn from every interaction, becoming more accurate at distinguishing legitimate customer behavior from fraud attempts. Banks using advanced risk scoring report 50% reductions in false declines while catching 25% more actual fraud.

Deepfake detection technology has evolved to identify manipulated media during customer onboarding and high-value transaction approval[5]. Current systems analyze micro-expressions, voice pattern inconsistencies, and video compression artifacts invisible to human observers. Financial institutions implementing deepfake detection prevented over $500 million in potential losses last year.

Dark web monitoring services now track Fraud-as-a-Service marketplaces where stolen credentials and hacking tools trade openly[5]. Complete Controller subscribes to commercial threat intelligence feeds that alert us when client information appears on criminal forums, enabling proactive security measures before attacks launch. Last month alone, we notified 47 clients about compromised credentials appearing for sale, preventing potential breaches.

Conclusion

Protecting against credit card fraud and identity theft demands constant vigilance and multi-layered security strategies. The statistics paint a sobering picture—with the U.S. bearing 42% of global fraud losses and 80% of organizations facing attacks—but proven solutions exist for businesses willing to implement them.

I’ve spent two decades helping businesses transform their financial operations, and the companies that thrive share one trait: they treat security as an investment, not an expense. From biometric authentication eliminating fraud at 1,100 retail locations to AI systems reducing false positives by 35%, the tools exist to protect your business without sacrificing efficiency.

The key lies in taking action today rather than waiting for fraud to strike. Start with the basics—enable 2FA, implement dual controls, and train your team. Then layer in advanced protections like tokenization and AI monitoring as your security maturity grows. Every step forward makes your business a harder target, encouraging fraudsters to move on to easier prey.

Your financial security deserves expert guidance beyond what any single article can provide. Contact the security specialists at Complete Controller to discuss custom fraud prevention strategies tailored to your specific business needs and risk profile. Our team has protected thousands of businesses from financial fraud, and we’re ready to help safeguard yours.

FAQ

How quickly do I need to report credit card fraud to avoid liability?

Report unauthorized charges to your card issuer within 2 business days of discovery to maintain maximum federal protection. Under the Fair Credit Billing Act, reporting within 60 days limits your liability to $50, but delays beyond that timeframe can leave you responsible for all fraudulent charges. Most major card issuers offer zero-liability policies that protect you completely when you report promptly.

What are the most reliable signs that my identity has been stolen?

Watch for unexpected credit inquiries on your report, bills for accounts you didn’t open, missing mail containing financial statements, IRS notices about unreported income, or medical bills for services you didn’t receive. The earliest warning often comes from small unauthorized charges—criminals test stolen cards with minor purchases before attempting larger fraud.

Can credit card companies reverse fraud charges after I’ve already paid my bill?

Yes, card issuers can reverse fraudulent charges up to 120 days after the transaction date, even if you’ve already paid the bill. The chargeback process requires filing a formal dispute with supporting documentation like police reports or merchant correspondence. Success rates exceed 90% for well-documented fraud claims filed within regulatory timeframes.

Is it safe to save my credit card information on shopping websites?

Major retailers using tokenization technology can safely store your payment information, as they never actually possess your real card number. Look for sites displaying PCI compliance badges and using HTTPS encryption. Avoid saving cards on smaller sites lacking these security indicators—the convenience isn’t worth the risk of a data breach exposing your financial information.

Should my business switch from paper checks to electronic payments for fraud prevention?

Absolutely—ACH and wire transfers provide superior fraud protection compared to paper checks, which criminals can easily forge or alter[1]. Electronic payments create digital audit trails, enable dual approval workflows, and eliminate check washing schemes that cost businesses $815 million annually. Complete Controller helps clients transition to secure electronic payment systems that reduce fraud risk by up to 90%.

Sources

• Bank at First. (2025). “2025 Fraud Best Practices Checklist.” URL: bankatfirst.com/fraud-checklist
• Association of Financial Professionals. (2025). “Payments Fraud and Control Survey Report.” URL: afp.org/fraud-survey-2025
• Federal Trade Commission. (2024). “Identity Theft Statistics: Fraud Is on the Rise.” URL: ftc.gov/identity-theft-stats
• Apexx Global. (2025, Jan 2). “The 2025 Playbook for Preventing Card-Not-Present Fraud.” URL: apexxglobal.com/cnp-fraud-prevention
• Digital Journal. (2025). “10 Ways JP Morgan is Using AI.” URL: digitaljournal.com/jpmorgan-ai
• HID Global. (2022). “Case Study: Improving POS Security With Biometrics.” URL: hidglobal.com/case-studies
• Department of Veterans Affairs. (2025, May 22). “Identity Theft Awareness – Privacy.” URL: va.gov/privacy/identity-theft
• Veriff. (2025, Jan 22). “The Emerging Threat of Emulator and Injection Attacks in 2025.” URL: veriff.com/emulator-threats
• Experian. (2024, Mar 13). “11 Ways to Protect Yourself From Identity Theft.” URL: experian.com/identity-protection
• Nilson Report. (2025). “Payment Card Fraud Losses Approach $34 Billion.” URL: nilsonreport.com/fraud-2025
• Penn Community Bank. (2025, Jan 27). “National Data Privacy Day: A 2025 Guide to Fraud Prevention.” URL: penncommunitybank.com/fraud-guide
• ThreatMark. (2025, Jan 2). “10 Key Trends Driving the Fraud Prevention Industry in 2025.” URL: threatmark.com/trends-2025
• European Central Bank. (2012). “Report on Card Fraud.” URL: ecb.europa.eu/card-fraud-2012
• Amnis Treasury. (2025, May 22). “Financial Fraud Detection: Trends & Best Practices.” URL: amnistreasury.com/fraud-detection
• Consumer Financial Protection Bureau. (2025). “Credit Card Fraud Protection Guidelines.” URL: consumerfinance.gov

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.

Bitcoin has become the most famous and popular form of cryptocurrency. The creation of this cryptocurrency has incorporated currency, technology, economics, social dynamics, and math. And though a lot has been learned about bitcoin cryptocurrency, there is still a lot more to learn about this form of payment.

The Bitcoin Backstory

In 2009, bitcoin was invented by a person who called himself Satoshi Nakamoto. Its invention created an electronic cash system that was 100% decentralized with no central authority or server. After two years of cultivating the technology, Nakamoto turned over the domains and source code to others in the bitcoin community and vanished.

What is bitcoin?

Bitcoin is a digital currency that has no printed bills or points. There is no government or banking institution, or other authority in control of bitcoin. Bitcoin’s main function is to connect buyers and sellers through encryption keys, mined through powerful supercomputers connected to the Internet.

How is bitcoin mined?

Those that mine bitcoin use record-keeping and advanced math in the process. When someone sends bitcoin to another user, the network records the transaction. It also records all others made during the same period of time in what is called a block. The miners inscribe these transactions into a gargantuan digital ledger. These blocks are known as the blockchain, an accessible record of all bitcoin transactions ever made.

Once the transactions are stored in the digital ledger, bitcoin miners use specialized software to convert these blocks into a hash code. These miners compete simultaneously with other minors, and only the one with the first hash gets paid. When a new hash is generated, it goes to the end of the blockchain and then publicly distributed. The successful miner who creates the hash is paid approximately 12.5 bitcoins, roughly worth $100,000.

What determines the value of a bitcoin?

The value of bitcoin is determined by what people pay for the bitcoin. This has been compared to how stocks are priced. Bitcoin is in more limited supply because when established in 2009, the creator dictated that only 21 million bitcoins can be mined. As of now, a little over 18 million bitcoins have been mined. Because Nakamoto disappeared, economic theories have been floated, but no one knows why he put this limit or chose 21 million. As the mining of bitcoin nears 21 million sense, the cost can fluctuate like a stock. The cost of bitcoin could be high.

How do I buy bitcoin?

First, you use a bitcoin platform and set up an account. Then you use your bank account or another accepted payment platform to deposit into a virtual wallet. Once your account is funded, you can use bitcoin in exchange for traditional currency.

To date, over 100,000 merchants accept bitcoin or other cryptocurrencies as valid forms of payment. You can also sell it off when it increases in value and make a profit. Though bitcoin doesn’t have transaction fees, there are generally fees when you use an exchange to buy or sell.

What are the risks?

If you don’t use it immediately and hang onto it, the risks can be fairly high. Unlike the dollar, the bitcoin value can swing widely from day to day, so while the value may be great one day, it could be low the next day. Because there is complete anonymity and no way to trace users, buyers, and sellers, if there is hacking on an exchange site, bitcoin theft or fraud is possible. It is nearly impossible to recover losses because once the transaction is registered on the blockchain, it’s final and unchangeable.

Also, there is a question about whether you can trust exchanges. Even the more established ones have had issues with keeping up with demand and site outages. Therefore bitcoin can be deemed fairly risky.

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 hiring new employees for your business, there are several places you can look for qualified candidates. One of the best places to find qualified candidates is in the area of recent graduates. These candidates are entering the marketplace with a fresh perspective and attitude. Graduates are also looking to begin their long career after having spent time furthering their education.

Because graduates are coming in eager to do a great job and use their newly acquired knowledge, in many cases, they are the best candidates for the job. For this reason, getting these candidates to work for your business can be highly competitive. Besides salary and benefits, you need to offer these potential employees incentives they can’t get anywhere else. Here are six things you can do to help you successfully recruit recent graduates.

Training

While it is true that the recent graduate will have gone to school for many years, and you may not think they would want to learn more, they expect training specific to your business. Offering high-level training that is advanced and thorough will be key for retaining employees, especially graduates.

The graduate will hold a different standard for training since they have just graduated and are still education-minded. Their expectations will be set high when it comes to the training they receive on-the-job.

Advancement

Most candidates looking for a career will decide the company they work for based on advancement opportunities. If your company does not encourage growth and pursuit of opportunities, you may not attract recent graduates. This potential employee just spent anywhere from 4 to 8 years furthering their education with the idea that they would get opportunities to advance in their career within the company at which they work.

Flexibility

New graduates have a different perspective when it comes to work and work-life balance. Many employees, especially graduates, look for flexibility in the work environment and schedule. If you allow flexibility within the hours your business operates as far as to schedule, you will find employees that will be more productive and long-term. Graduates will be looking for a reason to work at your business, and flexibility will go a long way in helping them choose your business in which to work.

The Latest Technology

New graduates will generally be advanced when it comes to the latest technology. While it is understood that a business may not afford the latest technology, you should add it to your budget. You should be consistently ensuring that your company has the latest technology they can afford. Having outdated technology and equipment is good for everyone and should be a priority. One way to entice a new graduate as an employee could be to highlight all the technology your company offers.

Sense of Security

New graduates, especially those who have not been in the job market, are generally nervous about starting a new job and keeping it. To draw these candidates to your business, you need to offer them job security and growth. This can be done through a contract signed by both the employee and the employer, guaranteeing specific needs. These candidates also need to have confidence that your business will grow and thrive.

You should also be able to offer graduates competitive salaries, benefits packages, and bonuses. Having great compensation packages is another way you can offer job security.

Investments and Incentives

Many graduates are just looking at the future as far as their job is concerned. They are also looking at investments. If your company is publicly traded, you can offer your employees stock options. Owning shares in your company can be a way to entice candidates to work for your company instead of one that does not offer the opportunity to own shares.

To further attract new graduates, you could also offer tuition reimbursement. Student loans, after credit card debt, are the highest form of debt people have. Some graduates spend years paying back student loans. Therefore, if your company can afford tuition reimbursement, this would be a highly attractive incentive for a new graduate to work for your company.

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.

Once you have filled out the application and your resume has been submitted, you may be called for an interview if you are qualified for the job. There are many things that you can do to prepare yourself for the perfect interview. This preparation will include appearance, behavior, etiquette, and knowledge. People make many mistakes when it comes to the job interview, which can cost them being hired. Here are four common mistakes candidates make in an interview and how to avoid them.

Arrival Time

When it comes to arriving for your interview, there is an arrival time sweet spot that is neither too early nor too late. While you never want to be late for an interview, you can also make the mistake of arriving too early. While arriving late can make you look irresponsible and unable to meet a schedule, arriving too early can make you look desperate. It can also make you look as though you’re trying too hard.

While it is agreed that when it comes to an interview, if you’re on time, you’re late, you should arrive no more than 15 to 20 minutes early. If you arrive 15 to 20 minutes early, you should wait in your vehicle or outside of the office until closer to your interview time.

Dress Code

When it comes to dressing for a job interview, you must dress to impress. Even if you are interviewing for a position that does not require business attire, you should wear business attire for your interview. If you don’t have business attire, there are a few ways you could obtain something to wear for the interview without spending a lot, if anything at all. You can borrow from a friend or family member, go shopping at a thrift store, or buy an outfit on sale.

The most important thing to remember when you’re dressing for your job interview is that you want to impress them from the moment they see you before you even open your mouth. This is your first impression, and if you are dressed inappropriately, they may not even continue the interview.

Using Devices

Even while waiting for your interview, you are often being observed. If your potential employer or interviewer observes you on your own or other devices, they may decide on your dedication without a single question being asked. The suggestion would be that you put your phone or device in airplane mode or, better yet, leave it in your car in a safe place.

The most important thing to remember is that you are there to interview for a job and you should do everything you can to make a positive impression. Being distracted by your phone can be a dealbreaker. In some cases, you may need to be reachable if you have children. However, even in those cases, you need to inform those caring for your children that you will be unavailable for a certain length of time and give them the timeframe. There is no good reason you have your device on for the period you will be interviewing.

Confidence

There is a fine line between being confident, being under-confident, and being overconfident. Being under-confident is the most common state that potential employees experience. This will often come across as nervousness, and most interviewers will understand to a certain level. However, if you come across as weak or incapable of overcoming your nerves, it can cost you the job.

On the other hand, you can easily go too far in the other direction. Being overly confident, bordering on cocky, or arrogant can be off-putting. The most important thing to remember when it comes to confidence is that you need to be yourself, and you need to show that you know you are right for the job without coming off as egotistical.

Conclusion

The purpose of an interview is not only to highlight your skills, which the interviewer and hiring staff can already see on your resume, but it is also how the interviewer determines what kind of employee you will be. So you must arrive slightly early, turn off or leave behind your devices, dressed to impress, and portray the right level of confidence so you can hear the words, “You got the job!”

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.

By: Jennifer Brazer

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

Fact Checked By: Brittany McMillen

How to Successfully Implement Disruptive Technology in Your Business:
A 4-Step Framework

Have you ever tried to introduce a breakthrough technology at your company—only to watch it quietly fizzle out? I have. The truth is, disruptive technology doesn’t fail because it’s too advanced. It fails because it’s introduced without strategy, empathy, or a roadmap.

Today’s digital transformation challenges mirror what businesses faced during the 1990s internet boom: massive opportunity mixed with equally massive risk. Only 35% of companies worldwide successfully achieve their digital transformation goals, according to Boston Consulting Group. Even more concerning, McKinsey reports that 17% of IT projects fail so badly they can threaten a company’s survival.

I’ve spent years in the trenches helping companies—from startups to established enterprises—adopt change without upheaval. If you’re ready to lead a transformation your team will actually embrace, here’s my proven four-step framework.

What You’ll Learn

• How to build a cross-functional “Disruption Task Force” that predicts rather than reacts
• Methods to validate emerging tech using MVPs and legal “sandboxing” before big investments
• Techniques to reduce internal resistance through smart training and feedback loops
• Strategies to create ecosystem partnerships that future-proof your implementation
• Real-world examples from Amazon, Stripe, and SA Law that you can adapt

Step 1:
Assemble a Disruption Task Force

Why traditional R&D teams often miss the mark

Your in-house innovation team might be brilliant—but they’re likely stuck on improving what already works. Real disruption doesn’t come from tweaking. It comes from rethinking. That’s why your first step is to form a diverse, future-focused team that isn’t afraid to challenge sacred processes.

How to build a team that predicts the future (not the past):

• Recruit outsiders: Pull in junior employees, customer support reps, and even skeptical staffers. They see what leadership can’t.
• Train for tomorrow: Use frameworks like Info-Tech’s tech radar to spot 2023 emerging technology trends before the market matures.
• Steal from Amazon: Their PR/FAQ method treats every pitch like a real-world press release. It demands customer-first thinking before a line of code is written.

Think of this group as your in-house startup—scrappy, fast-moving, and wired for change. When I built our first cloud-based accounting platform at Complete Controller, I specifically included team members who had no accounting background. Their fresh perspective helped us create an interface that felt intuitive to non-financial users—something our “expert” team would have overlooked.

Step 2:
Stress-Test Technologies Through Lean Validation

Skip this step, and you risk betting big on tools no one uses. Even digitally savvy sectors like high tech, media, and telecom achieved a success rate of just 26% in their digital transformation efforts, according to McKinsey. Emerging technology can sound great—until it smashes into real workflows.

Here’s how you ensure the shiny new thing doesn’t become shelfware:

• Build an MVP in under 30 days: Use Figma, Airtable, or no-code tools to test the core idea
• Map user pain: Sit down with customers and employees to locate tech “friction points“
• Use regulatory sandboxing: Loop legal in early to simulate potential compliance issues through regulatory sandboxing for disruptive innovation. It’s the step most companies overlook—and one of the most critical

Founder Tip: When we experimented with an AI bookkeeping tool, we piloted it with five businesses first. Privacy, not performance, was the real concern. That insight only surfaced because we tested iteratively—with empathy at the core. This approach to innovative technology in accounting has completely reshaped how finance teams operate today.

Step 3:
Overcome Human Resistance with Phased Adoption

Even brilliant tech will flop if your team doesn’t buy in. 70% of digital transformations fail—and resistance is the top culprit, according to research on the high digital transformation failure rate.

Want to avoid that fate? Here’s your playbook:

• Break training into micro-lessons: Create daily 5-minute lessons tailored to specific workflows
• Run weekly “tech therapy” check-ins: Give teams space to vent, ask questions, or share ideas
• Create an experimentation economy: Offer bonuses, shout-outs, or time off to those using the tool creatively

Case in Point: SA Law rolled out a new digital transformation to a paperless office over six stages across 12 weeks. Resistance dropped 40%—not because the tech changed, but because the process respected human adaptation curves.

I learned this lesson the hard way. When we first launched our virtual controller services, I made the mistake of introducing the entire platform at once. The result? Confusion and pushback. When we relaunched with weekly feature releases and dedicated Q&A sessions, adoption soared from 45% to 87% in just two months.

Step 4:
Future-Proof Through Ecosystem Partnerships

You’re not racing alone. The future of disruptive technology belongs to networks, not lone wolves. Companies like Walmart didn’t just buy automation—they co-developed it with startups like Symbotic. That’s how disruption scales with protection built in.

How to Build an Innovation Ecosystem:

• Formalize R&D co-deals with vendors: Share risks and insights rather than just purchasing products
• Join compliance consortiums: Help shape regulation, not just obey it
• Build future talent pipelines: Fund university programs aligned with your tech direction
• Prioritize secure digital transformation for remote work: Ensure your innovation supports modern work models

When Stripe launched, they democratized fintech by leaning hard into API usability and legal clarity. The result? A platform that banks couldn’t match—and developers loved.

The numbers support this collaborative approach. PwC reports that 41% of companies have seen better customer experiences with technology partnerships, particularly in areas like GenAI implementation. Another 87% of organizations using partnership-based technology boosted profits in the past 24 months, with 59% seeing growth exceeding 11%.

Putting It All Together:
Your Disruption Roadmap

Disruptive technology isn’t just about adopting tools—it’s about adjusting culture. I’ve seen companies change everything without losing their soul. You can, too. Start small. Test fast. Listen always.

The key is balance. You need both visionaries and pragmatists. You need both quick wins and long-term investments. Most importantly, you need a process that respects both the technology’s potential and the human factors that determine its success.

When you’re ready to lead the shift from reactive to revolutionary—make it human. That’s what separates the 35% of successful transformations from the 65% that fail.

Ready to future-proof your finance operations with technology that enhances rather than replaces your team? Explore Complete Controller’s tech-first bookkeeping and controller services at completecontroller.com.

FAQ

How do I measure ROI for disruptive technology investments?

Look beyond basic metrics. Focus on user adoption rates (are people actually using it?), process speed improvements (is it making work faster?), and retention lift (are customers staying longer?). The most valuable metrics often combine financial indicators with behavioral changes. For example, track both cost savings and the percentage of employees contributing improvement ideas related to the new technology.

What are the biggest legal risks when implementing new technology?

The top three legal risks are data privacy violations (particularly GDPR and CPRA), embedded bias in AI algorithms that could lead to discrimination claims, and intellectual property issues when co-developing solutions. Protect yourself by building compliance reviews into every stage of development, not just at launch.

How long should it take to see results from disruptive technology?

Set realistic expectations: cultural adoption typically takes 6–12 months, while financial returns might take 12–18 months to fully materialize. Focus on tracking “leading indicators” like increased usage and positive feedback in the first 90 days. Give the process space to breathe before judging success or failure.

Can small businesses afford to implement disruptive technology?

Absolutely. With pay-as-you-go models and cloud platforms, what was once enterprise-only is now accessible to businesses of all sizes. Small businesses actually have an advantage: they can move faster, experiment more freely, and avoid the bureaucracy that slows larger organizations. Start with targeted solutions that address your biggest pain points.

Should we wait for emerging technology to mature before implementation?

Waiting lowers immediate risk but raises switching costs and competitive disadvantages later. Strike a balance by testing promising technologies in controlled environments now while holding off on full-scale implementation until you have proof of value. This “strategic patience” approach lets you build expertise while managing risk.

Sources 

• BCG. (2021). Digital Transformation Success Rates. Boston Consulting Group. https://www.bcg.com/capabilities/digital-technology-data/digital-transformation/overview
• McKinsey & Company. (2018). Why Digital Transformations Fail. https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/why-digital-transformations-fail
• McKinsey & Company. (2012). Delivering Large-Scale IT Projects. https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/delivering-large-scale-it-projects
• Census Bureau & North Carolina Department of Commerce. (2023). Digital Adoption Rates Across Industries.
• PwC. (2023). Benefits of Digital Transformation Survey.
• KPMG. (2023). Technology Impact on Business Profits Report.
• Smith, A. (2020). Digital Revolutions: From Internet to Social Media. Digital Journal.
• Info-Tech. (2023). Emerging Technologies Trend Report. https://www.infotech.com/research/2023-emerging-technology-trends
• Financial Conduct Authority. Regulatory Sandbox Guidelines. https://www.fca.org.uk/firms/innovation/regulatory-sandbox
• MIT Sloan. Disruptive Business Growth Report.
• Hype Innovation. Guide to Driving Disruptive Innovation.
• Complete Controller. Accounting Innovations & Trends. https://www.completecontroller.com/accounting-innovations-trends/
• Complete Controller. Efficient Paperless Office Solutions. https://www.completecontroller.com/efficient-paperless-office-solutions/
• Complete Controller. Remote Work Security Post-Covid. https://www.completecontroller.com/remote-work-security-post-covid/

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.

Women’s demographics have changed a lot over the years, and women are strongly represented in corporate America. In recent years women are emerging as key competitors in areas of business heavily dominated by men. Many women are holding these jobs and continuing to change the global corporate landscape.

With the emergence of more women entrepreneurs and innovators, the economy benefits from more women taking ownership of both business and family finances. While women are continuing to find equality in the workplace and corporate America, they are continuing to embrace their differences in their approach to business, economics, and life.

Women tend to be more thoughtful and compassionate by nature and more intuitive. These qualities are a significant advantage when it comes to planning for the future and finances. Because of these instincts and key differences, you should be mindful of some things when financial planning if you are a woman.

Let Go of the Baggage 

Every person that has worked has made financial mistakes. Some mistakes are larger than others, but all can be overcome. The most important thing for women to keep in mind when a financial mistake is made is that it is no indication of incompetence. The most intelligent people can make a crucial mistake when making financial decisions and moves. If a mistake is made, correct it, overcome it, and let it go.

Take Money Lessons to Heart

Whether the money lessons come from your own experiences with money management or they come from observing others handling money, it is important to pay attention to money management lessons no matter where they originated. These lessons could be from observing your parents handling money and taking on their methods or rejecting their mistakes and not repeating them in your adult life.

No matter where these lessons come from, it is important that you take them to heart and adjust accordingly.

Recognize Your Motivation 

Money itself is a financial motivator; however, it alone will not sustain the momentum of motivation. You need to take inventory of your financial goals, discover your motivations, and use them to drive economic growth through financial planning. The more motivation you can discover, the more reasons you will have to grow financially, ultimately leading to other successes.

Remember What You Value

While shopping and spending money on non-essential luxury items is fun, it usually brings no real value to your life other than temporary happiness. When you are financially planning, you need to consider what you value financially and in life. If we place value on items over health, financial stability, and loved ones, we are undervaluing what is important. Set priorities both financially and in other aspects of your life.

Consider How Others Impact Your Finances

Women, by nature, often put everyone else’s needs before their own. This natural behavior can sometimes lead to others in our lives, having an impact on our finances. In some cases, like caring for an incapacitated loved one or an elderly parent are unavoidable additional financial burdens that cannot be avoided, nor should they be. However, sometimes we prioritize others over ourselves financially and prevent them from overcoming their own financial struggles. There is a fine line between charity and enabling when it comes to our loved ones and finances.

Understand Risks 

Because women have a longer life expectancy and generally a lower income and, therefore, lower retirement savings, they may have to assess risks differently than men. High risk equals high yield, and women will need to put this to the test to push the limits on income currently and retirement savings.

Conclusion

When women are financially planning the present and the future, they must understand the differences between men and women regarding approaching finances. These differences mean that you will need to adjust your planning to have financial freedom and a secure financial future as a woman. 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.