What is Travel Insurance?

Travel insurance is the only way to travel safely and comfortably; it is a tool that protects the traveler from unforeseen catastrophes and, if they occur, assists in addressing them as effectively as possible, preventing or limiting damages.

Health insurance provides peace of mind from the moment of boarding until the traveler’s return to the Nation of origin, regardless of the length of stay, the passenger’s profile, the reason for the journey, or the duration. It’s clear to see that insurance is always necessary and essential.

What are Travel Insurance Coverages?

Travel insurance coverage might vary according to the product purchased or the traveler’s profile or requests, such as travel cases for countries, senior passengers, or previous ailments.

In general, travel insurance covers various charges, such as medical, hospital, and dental expenses, both urgent and emergency, consultations with experts, transfer of accompanied family members, hygienic repatriation, or dead remains.

In addition, travel insurance covers services such as discovering or replacing lost luggage, rescheduling a round-trip ticket in the case of unanticipated medical or climatic occurrences, legal help, and advance bail payment.

 In Which Countries is Travel Insurance Mandatory?

Although having health insurance is vital for feeling safe and comfortable wherever you travel, travel insurance must visit several European countries.

The nations that are part of the Schengen Treaty must get travel insurance. Germany, Austria, Belgium, Denmark, Slovakia, Slovenia, Spain, Estonia, Finland, France, Greece, Netherlands, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Czech Republic, Sweden, and Switzerland are the countries involved. Travel insurance is also mandatory for Ecuador and Venezuela.

The Schengen Treaty, an administrative agreement between states that imposes rules for the permanence and movement of people within the territory of signatory countries, requires foreigners visiting the Old World to have travel insurance with minimum coverage of $30,000, or it is equivalent to dollars.

How do You Choose the Right Traveler Assistance Plan to Travel Smoothly?

The best travel insurance is always the one that considers everyone’s specific needs. Pregnant women, elders, and people with pre-existing ailments require extra care. Other aspects you must consider while purchasing coverage are the duration and location of the trip.

The vacation type also determines the best travel support plan selection. Exceptional coverage for teams, for example, will protect their safety when carrying technical or sporting equipment.

Advantages of Having Travel Insurance

Even while you’re on vacation, unexpected situations occur! No one is immune to becoming sick or having an accident when traveling, so having travel insurance is essential for protection.

Travel insurance can help you avoid unanticipated expenses such as medical or pharmaceutical costs, which can be extremely pricey in some locations, such as the United States. It will also be necessary to ensure access to nations with contracted coverage.

Another advantage of obtaining travel insurance is protecting you in various scenarios, including trip cancellation or rescheduling due to medical or climatic reasons, loss of luggage or papers, and legal and funeral help.

What do You do if You are Away from Home and Need to Use Your Travel Insurance?

We hope you stay healthy and safe, but if the unexpected happens, don’t worry! Your insurance company’s Call Center abroad is here to help. They have a team of trained professionals who are ready to assist you promptly and efficiently. Make sure to keep your insurance provider’s phone number handy, so you can reach out to them whenever you need help. With their support, you can rest assured that you’ll be taken care of with kindness, expertise, and care.

They will want personal information, the policy number, the trip date, and the city and Nation where you are situated to demonstrate how to respond in each case.

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.

Paying off your debt is possible when you know how much you owe and what you need to do to pay it off. If you feel ready to pay off your debt, you can start by following these easy steps.

Step One: Learn Strategies to Reduce Your Debt

Two basic methods can help you reduce your debt: The Highest Interest Rate Method and the Snowball Method.

The highest interest rate method

This method focuses on making debts with the highest interest rates, such as credit cards, medical bills, and student loans. The goal is to pay these debts with the highest interest rates as quickly as possible because they cost you the most money. Even if it doesn’t seem like you’re changing anything initially, this approach will help you eliminate your most expensive debts, saving you money in the long run.

The snowball method

This method focuses on paying down your smaller debts. The goal is to get rid of them as quickly as possible. You’ll keep making the minimum necessary payments on all your debts while putting in as many extra funds as possible to pay off your smaller debts. It will help you cancel them more quickly.

Once you’ve paid off one of these small debts, you’ll spend all those funds paying off the next one. That way, you’ll create a “payment snowball” as you pay off each debt. Unlike the highest interest method, you’ll see changes quickly. However, you may award more in the long run since you don’t focus on more significant, expensive debts.

Step Two: Make Your Debt Reduction Plan

Please choose the best strategy for your current situation and put it into practice. Download our debt reduction worksheet and use it to find the plan that works best for you. You’ll need all the bills you owe and information about the interest you owe to use the form. The higher-interest method might suit you if you’re motivated to save more money while paying off your debts. But if you’re motivated by rapid progress, you should consider the snowball method.

Step Three: Organize Your Monthly bills

Understanding how much you owe and when you must pay will help you handle your debt. You can use a bill calendar to keep all this information in one place as you work through your debt. Also, use it to determine which bills you must pay and when they are due. Keeping your monthly expenses can bring you closer to reaching your goals.

Step Four: Eliminate Your Debts, One by One

Once you remove the first debt, move on to the debt with the next highest APR. Pay in portions, then continue until you zero out the balance you owe. With each obligation you eliminate, you’ll free up more cash to use to pay off the next debt.

You can also bring non-priority expenses back into your budget that you’ve cut occasionally. It will guide you to avoid running out of funding, leading to overspending. Experts also recommend that some of the funds used in those accounts be redirected into savings once you deposit your credit cards. So, if you save $500 a month on credit card accounts, set up a $250 recurring monthly transfer to savings. This way, you can build a solid emergency fund, which prevents you from relying too heavily on credit cards.

The Following is the Best Way to Reduce Debt

The abovementioned procedure is considered the best because it is generally the most profitable. However, that does not denote that it is the best method in every financial condition. If you have a large quantity of debt to remove, the above steps may not work with limited cash flow. It is especially true if your most significant balances are on your credit cards with the highest APRs. It’s easy to burn out from lack of progress and can stop completely.

So, in this case, it’s better to begin with your lowest credit card balances than your debts with the highest APRs. You will knock out the “lower fruit,” freeing up more cash to deal with your most considerable obligations. The methods are the same as the five steps listed above. However, in Step 2, you organize your debts, starting with the lowest balance and ending with the highest.

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

By: Jennifer Brazer

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

Fact Checked By: Brittany McMillen

The Future of Bulk Purchasing: Unlock Savings and Efficiency

The future of bulk purchasing combines intelligent automation, data-driven personalization, and seamless omnichannel experiences to drive unprecedented cost savings of 27% or more while revolutionizing operational efficiency for businesses of all sizes.

As the founder of Complete Controller, I’ve witnessed a remarkable transformation in bulk purchasing strategies over my 20 years serving businesses across every sector. What started as simple volume discounts has evolved into sophisticated AI-powered procurement systems that slash costs by 15-30% while cutting order processing time by up to 70%. This article distills the most powerful bulk purchasing innovations I’ve seen transform struggling companies into market leaders—from automation breakthroughs to sustainability imperatives that actually boost your bottom line.

What is the future of bulk purchasing and how can it transform your operations?

• The future of bulk purchasing: AI-optimized automation, personalized supplier ecosystems, and sustainability-driven models that eliminate manual processes while maximizing value
• Cost savings: Per-unit reductions of 10-40% through dynamic pricing algorithms, bulk discounts, and consolidated shipping
• Operational efficiency: AI systems reduce order processing time by 50-70% and inventory errors by 80%
• Strategic simplification: Unified platforms enable one-click replenishment, integrated supplier management, and real-time analytics
• Competitive advantage: Modern bulk purchasing strategies become core differentiators across B2B and B2C sectors

The Automation Revolution in Bulk Procurement

The shift toward automated bulk purchasing represents the most significant operational upgrade available to businesses today. According to Gartner, 83% of B2B buyers now prefer digital commerce for ordering and paying, abandoning traditional sales rep interactions in favor of self-service efficiency.

AI-powered forecasting and dynamic pricing

Machine learning algorithms analyze historical purchasing patterns with 90% accuracy, predicting demand fluctuations before they impact your bottom line. Amazon Business exemplifies this transformation—their AI recommendations help businesses identify optimal bulk-buying windows, yielding 15-22% cost reductions for repeat buyers. Dynamic pricing tools adjust bulk rates in real-time based on market volatility, protecting margins during supply chain disruptions.

Robotics and autonomous fulfillment

Modern warehouses deploy AI-guided robotics for high-speed bulk order processing, reducing picking and packing labor by 60%. Shipfusion reports that automated fulfillment centers now process 500+ pallets per hour—quadrupling legacy throughput. IoT sensors maintain inventory accuracy above 99%, self-correcting discrepancies before they impact operations.

Sustainability: The Green Bulk Buying Imperative

Environmental responsibility and profitability now align perfectly in bulk purchasing strategies. Businesses implementing sustainable bulk buying practices report cost savings of 20-35% while meeting increasingly strict regulatory requirements.

Zero-waste packaging innovations

Biodegradable materials and reusable containers dominate modern wholesale logistics, cutting plastic usage by 70% in leading supply chains. Major retailers prioritize package-light bulk items, while refill stations for cleaning supplies expand across markets—reducing packaging waste by 8.2 million tons annually. These innovations lower shipping costs by 15% through weight reduction alone.

Carbon-neutral supply chains

Consolidated bulk shipments slash transport emissions by 30% when combined with route-optimization AI. Latin American bulk retailers partner with local suppliers to minimize food miles, while blockchain technology verifies ethical sourcing throughout the supply chain. Companies achieving carbon neutrality in their bulk operations report 18% higher customer retention rates.

Omnichannel Bulk Buying: Blending Physical and Digital

The convergence of physical and digital bulk purchasing channels creates unprecedented flexibility for modern businesses. E-commerce now accounts for 31.4% of wholesale trade sales, up from just 14.9% in 2006.

B2B self-service marketplaces

Three-quarters of B2B buyers prefer rep-free digital platforms for bulk orders, fueling explosive growth in AI-curated marketplaces. These platforms offer personalized catalogs, tiered bulk pricing, and automated approval workflows—accelerating procurement cycles by 600%. Integration with existing ERP systems eliminates data silos while maintaining compliance standards.

Membership models driving loyalty

Costco’s 90% membership renewal rate demonstrates the power of exclusive bulk buying privileges. Their $60+ billion revenue stems from creating a psychological “club effect” that boosts retention through rewards and member-only deals. B2B equivalents replicate this model via tiered memberships offering progressive bulk discounts and early inventory access.

The Psychology of Bulk: Beyond Cost Savings

Understanding the emotional drivers behind bulk purchasing reveals opportunities most businesses miss. Post-inflation consumer behavior shows 68% of buyers stockpiling essentials as “economic security blankets”—a trend amplified by younger demographics.

Security and scarcity mentality

Bulk buying saves households 27% on average, up from 25% in 2021, creating tangible financial security. Warehouse clubs leverage this psychology by framing bulk purchases as preparedness investments, driving 25% higher basket sizes during economic uncertainty. Smart businesses position bulk options as stability solutions rather than mere discounts.

Generational shifts in bulk behavior

Gen Z constitutes 41% of bulk buyers, prioritizing sustainable packaging (79%) and local sourcing (63%) over price alone. Millennials use bulk buying for “time arbitrage,” reducing shopping frequency by 60% to focus on higher-value activities. These shifts demand bulk strategies that emphasize values alignment alongside savings.

Data-Driven Personalization in Bulk Purchasing

Advanced analytics transform generic bulk offers into precision-targeted solutions that boost conversion rates by 35%. The wholesale trade market’s growth to $17.5 trillion in 2025 reflects this personalization revolution.

Predictive analytics for customized recommendations

AI engines analyze procurement histories to suggest industry-specific bulk bundles—HVAC parts for contractors, organic grains for restaurants, medical supplies for clinics. This hyper-personalization reduces excess inventory by 27% while increasing order values. Machine learning continuously refines recommendations based on seasonal patterns and market trends.

Account-based B2B storefronts

Leading suppliers deploy SaaS platforms enabling clients to build private digital storefronts with pre-negotiated bulk pricing. These custom portals feature compliance-ready invoicing, spend analytics, and AI-guided upselling. Pharmaceutical distributor McKesson credits this model for 20% procurement cost reduction across their 4,000+ hospital network.

Implementing Bulk Purchasing: A Step-by-Step Framework

Success in modern bulk purchasing requires systematic implementation rather than ad-hoc adoption. Companies following structured approaches report 40% better outcomes than those attempting piecemeal changes.

Stage 1 businesses operate reactively with manual spreadsheets and infrequent bulk orders. Stage 2 companies implement basic automation and quarterly bulk buying schedules. Stage 3 organizations integrate AI for dynamic bulk scheduling and predictive analytics. Most businesses can progress from Stage 1 to Stage 3 within 18 months.

Volume-tiered contracts secure 12-30% discounts through quarterly commitments. Sustainability incentives unlock 5-15% additional savings for eco-friendly packaging choices. Extended payment terms of 60-90 days for bulk orders improve cash flow by 25%. Strategic supplier partnerships yield compound benefits beyond simple transaction savings.

Case Study: How Amazon Business Transformed B2B Procurement

A midwestern manufacturing firm exemplifies bulk purchasing transformation through Amazon Business integration. The company reduced procurement costs by 34% within one year while streamlining operations across 12 facilities.

AI tools identified $2.3 million in underutilized volume discounts previously hidden in fragmented purchasing data. Automated PO matching compressed invoice processing from 14 days to 4 hours, freeing staff for strategic initiatives. Real-time analytics revealed 28% overspend on MRO supplies, enabling immediate corrective action through strategic bulk bundling. The platform consolidated 200+ vendors into 40 preferred suppliers, simplifying management while maintaining quality standards.

Final Thoughts: Your Path to Bulk Buying Mastery

At Complete Controller, I’ve guided over 200 businesses toward procurement excellence through strategic bulk purchasing. The journey begins with honest assessment of your current spend patterns—inefficiencies often hide in fragmented data across departments. Phase in AI integration gradually while building stronger supplier relationships for compound benefits.

Bulk buying transcends simple volume—it demands smarter volume decisions aligned with your growth trajectory. Modern tools make sophisticated strategies accessible to businesses of any size. The companies thriving today treat bulk purchasing as a strategic capability rather than a tactical discount. For expert guidance on transforming your procurement strategy, connect with our team at Complete Controller to discuss your specific needs.

Frequently Asked Questions About the Future of Bulk Purchasing

What exactly is the future of bulk purchasing for small businesses?

The future centers on AI-powered procurement platforms that automate ordering, predict optimal purchase timing, and negotiate better rates—making enterprise-level strategies accessible to businesses with under 50 employees.

How much can bulk purchasing actually save my company?

Businesses typically save 10-40% on per-unit costs through bulk discounts, plus additional savings from reduced shipping frequency and automated ordering processes that cut administrative costs by 50%.

What are the biggest risks of bulk buying, and how do I avoid them?

Primary risks include overstocking and cash flow strain—both preventable through AI demand forecasting and negotiated payment terms that extend 60-90 days for bulk orders.

Which technology tools are essential for modern bulk purchasing?

Critical tools include AI-powered demand forecasting, automated inventory management systems, supplier relationship platforms, and real-time spend analytics dashboards.

How quickly can a business implement automated bulk purchasing?

Most businesses achieve basic automation within 90 days and full AI integration within 12-18 months, with measurable ROI typically appearing by month six.

Sources

• Amazon Business Blog. (2024, September 27). “Streamline Manufacturing Indirect Spend.” https://business.amazon.com/en/discover-more/blog/balancing-procurement-spend-cost-equation
• Amazon Business Blog. (2025, July 8). “5 Must-Have Features of Procurement Solutions in 2025.” https://business.amazon.com/en/blog/procurement-solutions
• DCKAP Blog. (2024). “The Future of Bulk Ordering.” DCKAP.
• Deloitte. (2024). “Digital Transformation in Supply Chain.” https://www2.deloitte.com/us/en/pages/operations/articles/digital-transformation-supply-chain.html
• Email Marketers Newsletter. (2024, August 27). “Costco’s Retention Secrets.” https://emailmarketersnewsletter.com/p/costcos-retention-secrets
• Environmental Protection Agency. (2024). “Zero Waste Initiatives.” https://www.epa.gov/sustainable-management-materials/zero-waste
• Gartner Newsroom. (2022, June 22). “Gartner Sales Survey Finds 83% of B2B Buyers Prefer Ordering or Paying Through Digital Commerce.” https://www.gartner.com/en/newsroom/press-releases/2022-06-22-gartner-sales-survey-finbds-b2b-buyers-prefer-ordering-paying-through–digital-commerce
• IBISWorld. (2025). “Wholesale Trade in the US Market Size Statistics.” https://www.ibisworld.com/industry-statistics/market-size/wholesale-trade-united-states/
• LendingTree. (2023, September 18). “Buying in Bulk Could Save Shoppers 27%, on Average.” https://www.lendingtree.com/credit-cards/study/bulk-buying/
• Newswire Jet. (2025). “Costco Business Model Analysis.”
• Shipfusion. (2024). “10 Wholesale Fulfillment Trends 2025.”
• Statista. (2024, March 5). “E-commerce as Percentage of Total Merchant Wholesale Trade Sales Excluding MSBOs in the United States from 2006 to 2022.” https://www.statista.com/statistics/185338/e-commerce-as-percentage-of-us-merchant-wholesale-trade-sales-excl-msbos/
• Wikipedia. (2024). “Automation.” https://en.wikipedia.org/wiki/Automation
• Ychange. (2025). “Bulk Shopping Worldwide.”

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.

Discover Proven Ways to Make Extra Money Today

How to make extra money starts with understanding your available time, existing skills, and income goals—then choosing proven methods that align with your situation, from quick cash opportunities like selling unused items to building sustainable income streams through freelancing or small business ventures.

As someone who’s built Complete Controller from the ground up and helped hundreds of small business owners optimize their finances over the past 20 years, I’ve witnessed firsthand what works when people need to boost their income quickly. The key lies in matching the right strategy to your specific circumstances and executing with intention. Whether you need $100 this week or want to build a $1,000+ monthly side income, the methods I’m sharing have been tested by real people achieving real results. You’ll learn practical approaches ranging from immediate cash generation to long-term wealth building, each backed by data showing average earnings of $885 per month for side hustlers in 2025.

What are the best ways to make extra money today?

• How to make extra money involves leveraging existing assets, skills, or time through proven income-generating activities
• Quick cash methods include selling unused items, freelancing current skills, or participating in the gig economy
• Medium-term strategies focus on building recurring income through small businesses, digital products, or service-based offerings
• Long-term wealth building combines multiple income streams with smart financial management and reinvestment
• Success requires matching opportunities to your available time, skill level, and income goals while maintaining consistency

Quick Cash Strategies You Can Start This Week

The fastest path to extra money often involves monetizing what you already have. Based on my experience working with cash-strapped entrepreneurs, these methods can generate income within days rather than weeks. The beauty of quick cash strategies lies in their immediate impact on your financial situation while you build longer-term income streams.

Ways to earn extra income from your possessions

Your home likely contains hundreds of dollars worth of items you no longer need. From unused gift cards that can be sold for up to 92% of their value to electronics gathering dust in drawers, these assets represent immediate cash opportunities. The key is conducting a thorough inventory and using the right platforms to maximize your returns.

Start by categorizing items into high-value electronics, designer clothing, collectibles, and general household goods. Each category has optimal selling platforms—eBay for collectibles, Poshmark for designer items, Facebook Marketplace for furniture, and specialized buyback sites for electronics. Price competitively by researching similar sold listings, and take quality photos to increase sale speed.

Side hustles for extra cash in the gig economy

The gig economy has revolutionized how quickly people can start earning. Whether driving for rideshare services, delivering food, or completing tasks through platforms like TaskRabbit, these opportunities offer flexible scheduling and immediate payment. The most successful gig workers I’ve advised treat these opportunities strategically, calculating hourly rates including expenses and choosing the most profitable options for their schedule.

Data shows that 36% of Americans currently participate in side hustles, with the gig economy accounting for 29.2% of all new jobs added during economic recovery periods. This growth indicates strong, sustained demand for flexible workers across various services.

Digital Income Opportunities That Scale

Online income streams represent some of the most scalable opportunities for extra money. Unlike trading time for dollars, many digital strategies can generate recurring income with upfront effort. These methods align perfectly with how I’ve seen successful entrepreneurs think about building wealth—creating assets that work for them.

Freelance work options using your existing skills

Professional skills you use in your day job can become immediate income sources. From virtual assistant services to specialized consulting, the freelance market rewards expertise across virtually every industry. I’ve watched countless professionals discover they can earn $25-100+ per hour doing what they already know how to do.

The most successful freelancers start by identifying their top three marketable skills, then create service packages around specific outcomes clients want. For example, instead of offering generic “social media management,” package it as “30-day Instagram growth strategy for local restaurants” with clear deliverables and pricing.

Millennial side hustlers earn the highest average at $1,029 monthly, demonstrating that established professionals can command premium rates by leveraging their career experience. Platform selection matters too—Upwork for general freelancing, Toptal for tech professionals, and LinkedIn for B2B consulting opportunities.

Online money-making opportunities through content creation

Content creation has evolved far beyond blogging. Today’s creators monetize through multiple channels, including sponsored content, affiliate marketing, digital products, and online courses. The most successful creators I know started by sharing knowledge they already possessed, then gradually built audiences and revenue streams around their expertise.

Success in content creation requires consistency over perfection. Choose one primary platform—YouTube for video content, Medium for written articles, or TikTok for short-form content—and commit to regular posting schedules. Monetization typically begins after 3-6 months of consistent content creation, with multiple revenue streams developing over time.

How to make money from home with technology

Remote work technologies have opened unprecedented opportunities for home-based income. From participating in user experience testing that pays $5-120 per session to managing social media accounts for small businesses, technology-enabled work offers flexible scheduling with competitive pay. These opportunities particularly appeal to parents and caregivers who need income without traditional workplace constraints.

Popular platforms like UserTesting, Respondent, and Dscout connect testers with companies needing feedback. Similarly, transcription services through Rev or TranscribeMe pay $15-22 per audio hour, while online tutoring through VIPKid or Chegg can generate $14-22 per hour.

Traditional Side Business Models That Work

While digital opportunities capture attention, traditional business models remain highly profitable for generating extra income. These approaches often provide more stable, predictable earnings compared to gig work, making them ideal for people seeking consistent monthly income rather than sporadic payments.

Part-time job Ideas with flexible scheduling

Strategic part-time employment can provide steady income while maintaining your primary career. The key is finding employers who offer true flexibility and roles that complement rather than conflict with your main job. Many of my clients have successfully used part-time positions as bridges while building their own businesses.

Retail positions during evening or weekend hours, substitute teaching with daily flexibility, and seasonal tax preparation work all offer predictable schedules with decent hourly rates. The healthcare sector particularly values part-time workers, with positions like medical coding or patient registration offering $15-25 per hour with benefits.

Best side gigs for extra money in your local market

Location-based opportunities often pay premium rates because they can’t be outsourced globally. Pet sitting and dog walking services command $15-40 per visit, while specialized services like pool cleaning or holiday decorating can generate $50-100+ per hour during peak seasons.

Success in local markets comes from identifying underserved niches. Research your area’s demographics and pain points—busy professionals need pet care, elderly residents require home maintenance help, and parents seek reliable childcare options. Building a reputation through initial discounted services leads to word-of-mouth referrals and premium pricing.

Creative ways to earn additional income

Creativity opens income channels overlooked by many. Teaching specialized skills through workshops, creating and selling handmade items, or offering unique services that solve specific problems often command higher prices due to distinctive value.

Consider packaging your hobbies into teachable workshops—photography basics for new parents, cooking classes for college students, or craft sessions for corporate team building. Local community centers, libraries, and businesses often seek instructors, paying $50-200 per session.

Building Sustainable Income Streams

Sustainable income streams represent the difference between working for money and having money work for you. These strategies require more upfront investment in time or resources but create ongoing revenue that can grow over time. This approach aligns with how I’ve always advised business owners to think about building wealth.

Start a small business for extra cash

Small businesses remain one of the most reliable paths to significant extra income. The key is starting lean, testing demand before making major investments, and focusing on cash flow from day one. I’ve seen people successfully launch everything from consulting practices to e-commerce stores using this approach, often growing them into primary income sources.

Service businesses typically require minimal startup capital while offering immediate revenue potential. House cleaning, lawn care, mobile car detailing, and personal organizing services can start with basic equipment and grow through customer referrals. Focus on one service initially, perfect your systems, then expand offerings based on client needs.

One inspiring example comes from Jason Scott Montoya, who built a freelance business generating $1.5 million since 2014. His transition from agency owner to independent consultant resulted in higher earnings with fewer hours worked, demonstrating how focused expertise can create substantial income.

Tips for earning passive income

Passive income requires active setup but generates ongoing returns with minimal maintenance. From renting space in your home through platforms like Airbnb to creating digital products that sell repeatedly, these strategies compound your time investment. The most successful passive income generators I know started with one stream, perfected it, then added others systematically.

Digital products offer particularly attractive passive income potential. Create templates, guides, or courses solving specific problems in your industry. A well-designed Excel budget template or industry-specific contract template can generate hundreds of monthly sales with no additional work after initial creation.

Implementation Strategies and Getting Started

Success with any extra income strategy depends more on execution than perfection. The biggest mistake I see people make is spending weeks researching options instead of taking action. The best approach involves choosing one or two methods aligning with your situation, starting immediately, and optimizing as you learn.

Data reveals that 75% of people earning less than $100 monthly spend only 0-5 hours weekly on their side hustle, while 85% of those making $500+ monthly invest at least 5 hours weekly. This correlation between time investment and earnings underscores the importance of consistent effort over sporadic attempts.

Track these key metrics from day one:

• Hours invested weekly
• Revenue generated per activity
• Expenses incurred
• Net hourly rate after expenses
• Customer acquisition costs
• Repeat business percentage

The most successful people I’ve worked with treat extra income generation like a business—tracking time invested, money earned, and optimizing for the highest return on their efforts. They understand that consistency beats perfection, and building multiple smaller income streams often proves more reliable than betting everything on one large opportunity.

Final Thoughts

Making extra money today requires matching proven strategies to your specific situation and taking consistent action. Whether you need quick cash through selling unused items and gig work or want to build a sustainable income through freelancing and small business ownership, the opportunities exist for anyone willing to execute systematically.

As I’ve learned through building Complete Controller and advising hundreds of entrepreneurs, the key is starting with what you have, choosing strategies that align with your goals and constraints, and treating extra income generation as seriously as you would any business venture. The methods outlined here have generated real results for real people—the question isn’t whether they work, but which ones you’ll commit to implementing.

For personalized guidance on optimizing your business finances and building multiple income streams, visit Complete Controller to learn how our expert team can support your financial goals with professional bookkeeping, accounting, and financial strategy services.

Frequently Asked Questions About How to Make Extra Money

How much extra money can I realistically make per month?

Your earning potential depends on time invested and chosen methods, but most people can generate $200-1,000+ monthly through consistent effort using proven strategies like freelancing, gig work, or small business activities. Current data shows side hustlers average $885 monthly in 2025.

What’s the fastest way to make extra money this week?

Sell unused items through Facebook Marketplace or specialized platforms, complete freelance gigs in your existing skill area on Upwork or Fiverr, or start gig economy work like DoorDash or Uber—these can generate income within 24-48 hours with same-day payment options available.

Do I need special skills to make extra money?

No—many opportunities like selling possessions, basic gig work, or simple online tasks require no specialized skills, while others let you monetize knowledge you already have from work or hobbies. Even basic computer skills can earn $10-20 hourly through data entry or virtual assistance.

How do I avoid extra income scams?

Stick to established platforms with user reviews, never pay upfront fees for income opportunities, research companies through Better Business Bureau, and be skeptical of promises exceeding $50+ hourly for unskilled work or “guaranteed” high returns with minimal effort.

Should I quit my job to focus on making extra money?

Generally, no—build extra income streams while maintaining your primary job until alternative income consistently exceeds your salary for at least 6-12 months and provides adequate security, emergency savings, and benefits replacement, including health insurance and retirement contributions.

Sources

• American Action Forum. (2017, January 10). “The Gig Economy: Research and Policy Implications.” www.americanactionforum.org/research/gig-economy-research-policy-implications-regional-economic-demographic-trends/
• Bankrate. (2025, July 9). “Survey: One In Four American Adults Have A Side Hustle.” www.bankrate.com/loans/small-business/side-hustles-survey/
• Entrepreneur. (2025, June 11). Williams, David. “50 Side Hustle Ideas to Make Extra Money in 2025.” www.entrepreneur.com/starting-a-business/not-sure-how-to-make-money-on-the-side-here-are-44-ideas/293954
• Fidelity Investments. (2024, September 12). Thompson, Lisa. “13 ways to make money fast.” www.fidelity.com/learning-center/smart-money/how-to-make-money-fast
• Investopedia. “Passive Income.” www.investopedia.com/terms/p/passiveincome.asp
• Jason Scott Montoya. (2025, July 22). Montoya, Jason Scott. “The ULTIMATE Blueprint for FREELANCE Success.” www.jasonscottmontoya.com/business/freelancing/847-success-blueprint
• LendingTree. (2025, February 21). Martinez, Carlos. “20 Ways To Make Extra Cash Online and Offline.” www.lendingtree.com/debt-consolidation/ways-to-make-extra-cash-to-pay-down-your-debt-sooner/
• NerdWallet. (2024, December 21). Johnson, Sarah. “26 Ways to Make Money Online, Offline and at Home in 2025.” www.nerdwallet.com/article/finance/how-to-make-money
• Side Hustle Nation. (2025, March 26). “21 Surprising Side Hustle Statistics (2025): Income, Gigs.” www.sidehustlenation.com/side-hustle-statistics/
• SmartAsset. (2025, June 4). Rodriguez, Maria. “25 Ways to Make Extra Income From Home in 2025.” smartasset.com/personal-finance/ways-to-make-extra-income-from-home
• Wikipedia. “Freelancing.” en.wikipedia.org/wiki/Freelancing
• Wikipedia. “Part-time job.” en.wikipedia.org/wiki/Part-time_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 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.

See Full Bio

Today, there are many methods to get rid of credit debt. Let’s talk about the simplest and most popular.

1. Credit holidays (postponement)

The parties agree to postpone payments several months in advance in this option. Your monthly payments will increase due to unpaid fees.

The legislation of the Russian Federation establishes that access to credit holidays is possible for borrowers whose official income has decreased by 30% or more compared to last year. The grace period can be up to 6 months. The payer must present to the bank all the necessary documents.

2. Debt restructuring and changing conditions

The concept of debt restructuring refers to revising an agreement with a credit institution. If necessary, you can lower the interest rate, increase the repayment period, and change the currency for payment. Also, the bank can change the monthly fee schedule, determine when the debtor will pay only interest on the loan, and other conditions.

The borrower must have good reasons to apply for restructuring. Otherwise, it will not be considered. You will need to attach documents confirming the complex financial condition. For example, dismissal or going on sick leave will need to be proved by an entry in the workbook, a medical certificate, checks for goods purchased at a pharmacy, and so on.

3. Loan refinancing program

It makes it possible to combine several loans into one and make a smaller payment due to a convenient interest rate and an increase in the repayment period. As a result, the borrower has only one debt, which is much easier and more profitable to pay.

You can implement the refinancing program for bank loans and loans received from a microfinance organization. Moreover, this option can provide an additional amount for current expenses and take the property or car out of collateral for their sale.

To implement the program, you need documents such as:

• Citizen’s passport
• References for all loans
• Certificate 2-NDFL or in the form of a bank (in some instances)

You can apply via the Internet. It is usually considered for several minutes.

If, on your part, there have already been delays with a credit institution, then difficulties may arise when trying to agree on refinancing with it. It may require new guarantees from you, for example, the deposit of property on bail, a surety from a solvent citizen, or others. In addition, strict conditions for the loan may be offered: a high interest rate, the emergence of new clauses on late fees, the signing of an insurance contract, and so on.

4. Bankruptcy

Bankruptcy of an individual is a legal and working method to get rid of debt quickly. You need to consider it last if you know you will not pay off the loan for three years. If such a decision happens, you need to consult with an experienced lawyer in advance. Bankruptcy is a paid procedure, but anyone who desires to resolve the issue of debts can afford to pay its cost.

This method suits people who do not have property to leverage. It does not include fines, alimony debts, and everything else that is not related to credit organizations. When the client cannot pay the loan, it can be written off. If he has something of value, the bailiff service will have the right to take it away and sell it to pay off the debt. After the property sale, the debtor releases further payment on loans. The process can take up to 8 months.

The downside of this approach is that a citizen will not get a new loan for five years and engage in entrepreneurial activities after bankruptcy.

The borrower will be considered bankrupt six months after the start of the process, and his debts will be recognized as uncollectible and written off. Such an innovation in the legislation made it possible for poor citizens to free themselves from impossible obligations.

5. Writing off debt due to the expiration of the statute of limitations

The opportunity to get rid of debts for free from the borrower may appear when he has not made payments for more than three years and the bank did not go to court for collection during this period.

The disadvantage of this method is obvious – you need to stop paying in full and wait for three years from the payment deadline. The write-off is possible only if the bank does not sue during this time but applies later.

The debt will grow faster over the entire default period due to interest and penalties. And the borrower will be disturbed by bank employees and a collection agency.

But if such a rare write-off opportunity nevertheless appeared, then you should take advantage of it and fight for it in court with the help of all the evidence confirming your right. Please note that the credit institution may use tools such as suspending and interrupting the statute of limitations. Therefore, find out by what rules it is calculated.

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.

Everything You Need to Know About Interest Rates

Interest rates represent the cost of borrowing money or the return earned on savings, expressed as a percentage of the principal amount, and they fundamentally influence every aspect of your financial life, from mortgage payments to investment returns. As someone who has guided thousands of small and mid-sized businesses through various economic cycles over the past two decades at Complete Controller, I’ve witnessed firsthand how understanding interest rates can mean the difference between financial success and struggle. Whether you’re managing business cash flow, planning personal investments, or simply trying to optimize your savings strategy, this article will equip you with practical strategies to navigate rate environments, reduce borrowing costs, and maximize returns on your hard-earned money.

What are interest rates, and how do they actually work?

• Interest rates are the percentage charged by lenders for borrowing money or paid by financial institutions on deposits, serving as the fundamental price mechanism in financial markets
• They work by compensating lenders for risk and opportunity cost while providing borrowers access to immediate capital
• Central banks like the Federal Reserve set benchmark rates that influence all other interest rates throughout the economy
• The actual rate you receive depends on factors including credit score, loan type, economic conditions, and market demand for money
• Understanding this mechanism helps you make better decisions about when to borrow, save, or invest based on the rate environment

Types of Interest Rates That Affect Your Financial Decisions

Interest rates function as the fundamental pricing mechanism for money itself, representing far more than just a simple percentage on your loan or savings account. When you borrow money, you’re essentially renting someone else’s capital, and the interest rate reflects the price of that rental based on multiple risk factors and market conditions.

The mechanics of how interest rates work involve a complex interplay between supply and demand for money in the financial system. When many people want to borrow money but few are willing to lend, rates tend to rise due to increased competition among borrowers. Conversely, when there’s abundant money available for lending but few borrowers, rates typically fall as lenders compete for customers.

Federal interest rate policy and your daily life

The Federal Reserve, America’s central bank, plays a crucial role in determining the baseline interest rate environment through its federal funds rate—the rate at which banks lend to each other overnight. When the Fed raises this benchmark rate, it becomes more expensive for banks to borrow money, and they pass these higher costs on to consumers through increased loan rates and improved savings rates.

However, the relationship between Fed policy and the rates you actually pay isn’t always direct or immediate. Banks consider their own costs, risk assessments, and profit margins when setting rates for different products. A mortgage might take weeks to reflect Fed changes, while credit card rates often adjust more quickly. Understanding this lag effect helps you time major financial decisions more strategically.

Interest rate calculator fundamentals

Every interest rate scenario involves four key variables: principal (the amount borrowed or invested), rate (the percentage charged or earned), time (the duration of the loan or investment), and compounding frequency (how often interest is calculated and added to the balance). The mathematical relationship between these factors determines your total cost or return, making it essential to understand how even small rate differences compound over time.

Mortgage Interest Rates Strategy

Understanding the different types of interest rates helps you choose the right financial products and avoid costly mistakes that can impact your wealth-building for decades. Fixed interest rates remain constant throughout the loan or investment term, providing predictable monthly payments that make budgeting easier but potentially costing more if market rates decline.

Variable interest rates, also called adjustable rates, fluctuate based on benchmark indices like the prime rate or LIBOR, starting lower than fixed rates but carrying the risk of future increases. These products can save money initially but require careful monitoring and financial flexibility to handle payment changes.

Mortgage rates represent one of the most significant interest rate decisions most people make, with even small rate differences creating massive long-term financial impacts. A conventional 30-year mortgage at 6% versus 7% on a $300,000 loan results in over $60,000 difference in total interest paid. Between 1971 and 2025, 30-year fixed-rate mortgages averaged 7.71%, reaching an all-time high of 18.63% in October 1981 during the inflation crisis and hitting a record low of 2.65% in January 2021 during the pandemic.

Savings account interest rates optimization

While borrowing rates capture most attention, the interest you earn on savings and investments equally impacts your financial success over time. High-yield savings accounts, money market accounts, and certificates of deposit offer different rate structures and liquidity features that should align with your specific cash flow needs and risk tolerance.

However, focusing only on the highest advertised rate without considering fees, minimum balances, and access restrictions can backfire. The best savings strategy balances competitive rates with practical functionality, ensuring you can access funds when needed without penalty while maximizing returns on money you won’t need immediately.

How to Lower Interest Rates on Your Existing Debt

Reducing the interest rates on your current debt represents one of the fastest ways to improve your financial position without increasing your income or drastically cutting expenses. Credit score improvement stands as the most powerful tool for lowering rates, as lenders price risk primarily based on your payment history, credit utilization, and overall creditworthiness.

Debt consolidation through personal loans or balance transfers can dramatically reduce your average interest cost when done strategically. If you’re carrying credit card balances at 18-24% interest, consolidating into a personal loan at 8-12% immediately cuts your interest expense in half while simplifying your payment structure.

Negotiation and refinancing strategies

Many borrowers don’t realize that interest rates on existing loans are often negotiable, especially when your financial profile has improved since the original loan. Calling your current lenders to request rate reductions based on improved credit scores, increased income, or competitive offers from other institutions frequently succeeds, particularly for credit cards and personal loans.

During 2020’s record-low rate environment, homeowners who refinanced their 30-year fixed-rate mortgages saved an average of over $2,800 annually in mortgage payments. The typical refinance involved a loan of approximately $300,000, with borrowers reducing their rate from 4.3% to 3.1%.

Impact of Interest Rates on Loans Across Different Products

The relationship between interest rates and loan affordability varies significantly across different types of borrowing, making it crucial to understand how rate changes affect each category of debt in your financial plan. Credit card debt, typically carrying the highest interest rates at 15-25%, creates the most immediate impact from rate changes since most cards use variable rates tied to the Federal Reserve’s benchmark. Commercial bank interest rates on credit card plans reached 21.16% in May 2025, representing some of the highest consumer borrowing costs in the financial system.

Student loans present a more complex picture. Federal loans offer fixed rates set annually, but private loans often carry variable rates that fluctuate with market conditions. The long repayment terms on student loans mean that even small rate differences compound into significant total cost variations over 10-20 year repayment periods.

Auto loans and personal lending

Auto loan rates typically fall between mortgage and credit card rates, with new car financing often subsidized by manufacturers to stimulate sales, while used car loans carry higher rates due to increased depreciation risk. The relatively short terms (3-7 years) on auto loans mean that rate differences create smaller total cost impacts than mortgages, but monthly payment changes can still significantly affect your budget.

Personal loans occupy a unique space in the lending market, offering fixed rates and predictable payments for debt consolidation, home improvements, or major purchases without collateral requirements. These loans typically carry higher rates than secured debt but lower rates than credit cards, making them valuable tools for strategic debt management.

Best Savings Interest Rates and Investment Strategies

Maximizing the interest earned on your savings and conservative investments requires understanding the current rate environment and matching different savings vehicles to your specific liquidity and return objectives. While the national average savings account interest rate sits at just 0.57% APY, high-yield savings accounts are currently offering rates up to 4.66% APY. This represents more than an 8x difference in earning potential, meaning someone with $10,000 in savings could earn $466 annually instead of just $57 by choosing the right account.

Certificates of deposit (CDs) traditionally offer higher rates than savings accounts in exchange for locking up your money for specific terms ranging from three months to five years. The current rate environment affects CD strategy significantly—when rates are rising, shorter-term CDs allow you to reinvest at higher rates more quickly, while falling rate environments favor longer terms to lock in current rates.

Money market and high-yield account strategies

Money market accounts often provide the best balance of competitive rates and practical functionality. They offer check-writing privileges and debit card access while earning significantly more than traditional savings accounts. These accounts work particularly well for emergency funds and short-term savings goals where you need occasional access but want to maximize returns on idle cash.

The key to savings rate optimization lies in regularly reviewing and moving money as rate environments change. Banks frequently offer promotional rates to attract new customers while gradually reducing rates on existing accounts over time. Setting calendar reminders to review rates quarterly ensures you’re capturing the best available returns without excessive account churning.

Current Interest Rates for Mortgages and Market Timing

The current mortgage rate environment presents both challenges and opportunities for homebuyers and existing homeowners considering refinancing decisions. As of July 31, 2025, the average 30-year fixed mortgage rate stands at 6.72%, representing a slight two basis point decrease from the previous week but remaining significantly elevated from recent years. This rate has been trading in a narrow range between 6.67% and 6.81% for four consecutive weeks, showing relative stability despite broader economic uncertainty.

The relationship between mortgage rates and home prices creates complex dynamics for timing real estate decisions. Higher rates reduce affordability for many buyers, often leading to slower home price appreciation or even price declines in some markets. However, this doesn’t automatically make buying more affordable if your monthly payment capability hasn’t increased correspondingly.

Final Thoughts

Successfully navigating today’s interest rate environment requires both understanding the fundamental mechanics of how rates work and implementing practical strategies to optimize your financial position. From negotiating lower rates on existing debt to maximizing returns on savings through strategic account selection, the knowledge you’ve gained here can translate into thousands of dollars saved or earned over time.

As I’ve learned through decades of guiding businesses through various economic cycles, the most successful financial strategies adapt to current conditions while maintaining long-term perspective. Take action today by reviewing your current debt rates, exploring high-yield savings options, and creating a plan to optimize your interest rate exposure. The team at Complete Controller stands ready to help you implement these strategies and develop comprehensive financial solutions tailored to your unique situation.

Frequently Asked Questions About Interest Rates

How often do interest rates change, and what triggers these changes?

Interest rates change based on multiple factors, with the Federal Reserve typically adjusting benchmark rates 4-8 times per year during active policy periods. Individual loan and savings rates can change daily based on market conditions, bank policies, and competitive pressures. Major triggers include inflation data, employment reports, and economic growth indicators.

What credit score do I need to get the best interest rates?

Generally, credit scores above 740 qualify for the best available rates on most loan products, though specific requirements vary by lender and loan type. Mortgage lenders often offer their best rates to borrowers with scores above 760, while personal loans may require 720+ for top-tier pricing. Even improving your score from 650 to 700 can reduce rates by 1-2% on many products.

Should I choose a fixed or variable interest rate for my mortgage?

Fixed rates provide payment stability and protection against rising rates, making them ideal when rates are historically low or if you plan to stay in your home long-term. Variable rates typically start 0.5-1% lower than fixed rates and work well if you plan to sell within 5-7 years or believe rates will decline. Your risk tolerance and financial flexibility should guide this decision.

How much can I realistically save by refinancing my loans?

Refinancing typically makes sense when you can reduce your rate by at least 0.75-1% after accounting for closing costs. On a $300,000 mortgage, dropping from 7% to 6% saves approximately $200 monthly and $72,000 over the loan term. For smaller loans like auto or personal loans, even 0.5% reductions can justify refinancing due to lower transaction costs.

Why are my savings account rates so much lower than loan rates?

Banks profit from the spread between what they pay depositors and charge borrowers, typically maintaining a 3-4% margin. Additionally, savings accounts offer instant liquidity and FDIC insurance, reducing the return compared to longer-term or riskier investments. Shopping among online banks and credit unions can help you capture higher savings rates while maintaining security and access.

Sources

• Federal Reserve Bank of St. Louis. (2025, May). “Commercial Bank Interest Rate Survey.” www.federalreserve.gov/data/statistics
• Freddie Mac. (2025, July 31). “Primary Mortgage Market Survey.” www.freddiemac.com/pmms
• NerdWallet. (2025, August). “Banking Survey: High-Yield Savings Account Rates.” www.nerdwallet.com/banking/rates
• TheMortgageReports.com. (2025). “Historical Mortgage Rate Data 1971-2025.” www.themortgagereports.com/historical-rates
• Bankrate. (2025, August). “National Average Survey: Deposit Rates.” www.bankrate.com/rates
• Federal Reserve. (2025). “Monetary Policy Overview.” www.federalreserve.gov/monetarypolicy.htm
• Consumer Financial Protection Bureau. (2025). “What is a Mortgage Rate?” www.consumerfinance.gov/ask-cfpb/what-is-a-mortgage-rate-en-2047
• Trading Economics. (2025, July). “United States Mortgage Rate.” www.tradingeconomics.com/mortgage-rates
• Freddie Mac Research & Insights. (2021, March 5). “Refinance Trends in 2020.” www.freddiemac.com/research/insights
• Federal Reserve Bank of St. Louis. (2025). “Credit Card Interest Rate Data.” www.fred.stlouisfed.org/series/TERMCBCCALLNS
• Complete Controller. “Accounting Outsourcing Economics.” www.completecontroller.com/accounting-outsourcing-economics
• Complete Controller. “5 Reasons Why Borrowing Money is Better Than Giving Up the Equity.” www.completecontroller.com/5-reasons-why-borrowing-money-is-better-than-giving-up-the-equity
• Complete Controller. “How to Manage Your Credit Responsibly.” www.completecontroller.com/how-to-manage-your-credit-responsibly
• Wikipedia. “Savings Account.” en.wikipedia.org/wiki/Savings_account
• Federal Reserve Economic Data (FRED). (2025). “Interest Rate Statistics.” www.fred.stlouisfed.org/categories/22

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.

See Full Bio

Inheritance might include items like:

• Cash
• Stocks and bonds are illustrated as investment assets.
• Property and real estate are examples of real property.
• Jewelry, furniture, antiques, and family heirlooms are examples of such objects.

Consider the case of a grandma who dies and leaves her whole estate to her granddaughter. The granddaughter’s inheritance includes the money accumulated in her late grandmother’s bank, savings accounts, house, clothing, jewelry, and automobile.

How much money will I inherit net after-tax in 2018, 2019, or 2020 if, for example, my uncle, aunt, brother, or sister dies? How is an inheritance from an uncle or aunt legally regulated in inheritance law, and how much tax do I pay on the inheritance? You will probably have to pay inheritance tax, so pay attention to the combination of rates and exemptions for an inheritance. You pay a relatively high tax on an inheritance from an uncle or aunt.

Inheritance in Legal Succession Law

The legal right of inheritance indicates what someone can inherit from another, and the mainline is that the bloodline is followed. Whoever is the closest relative of a deceased person is the first to be offered as an heir. The main exception is the married partner or registered partner of the dead. The law states that the survivor receives the entire inheritance but that a claim is not immediately due and payable from the children against the survivor. It means that the partner has an essential advantage over other heirs. That indent applies to the amount of the inheritance and the tax you must pay. The surviving partner has an exemption of less than $640.000 and will only pay an inheritance tax above this amount. That is very different from inheriting from an uncle, aunt, farmer, or sister.

How Much do I Inherit From an Uncle, Aunt, Brother, or Sister?

What do I inherit as a child according to inheritance law? You can inherit from an uncle, aunt, brother, or sister if a will has been drawn up, but without a choice, if there is no partner, children, or grandchildren. On the other hand, a child will always inherit from his parents without a will and always has a minimum right to a legitimate portion. Therefore, the uncle or sister can go to the notary if they want to leave you part of the inheritance. When no children and parents are left alive, they can leave everything to you. If there are children, they are, in any case, entitled to the legitimate portion, but even then, there may be a lot to divide. The same goes for an inheritance from a brother or sister.

Payless Inheritance Tax through Tax-Free Gifts

They are not that high with an inheritance from an uncle, aunt, brother, or sister, but in 2019 they will still be $2,173 annually ($2,208 in 2020). The way to pay less inheritance tax is also to use tax-free donations. It is less effective for significant legacies but is always a bonus. It saves tax, and a gift is always nice to do. A visit to the notary is recommended if there is a positive inheritance. If the debts predominate, you can reject the inheritance.

Inheritance Dispute

The term inheritance dispute, which is not found in the legislation, the Inheritance Code, refers to all types of conflicts connected to inheritance law. Many inheritance disputes begin with siblings having difficulty agreeing on how the inheritance should be distributed, for example, if the inheritance relates to a property. For example, when a will violates a breast heir’s right to a legal lot, the breast heir goes to court to claim his share.

Common Inheritance Disputes are Between Siblings

Inheritance disputes between siblings can be due to the siblings being allowed to inherit different amounts or not agreeing on who should get what. Maybe the siblings do not have a close and good relationship, making it harder to stay together and have a pleasant tone. One piece of advice is to apply for a probate officer in court directly or if the disagreement arises only when the inheritance is distributed.

Another piece of advice is that before the conflict arises, the testator appoints a will executor responsible for fulfilling the will. The executor or the executor can decide on a forced action if the siblings do not reach a standard solution. You can blame the forced change by bringing an action in the district court. 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.

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

Turn Your Back on the Pros!

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

Let us take the bank fund as an example. In five years, the fund has risen an impressive 300%! What is behind this fantastic development? Look at the list of the ten most extensive holdings (which almost all funds present) and look for your inspiration for the next stock purchase there!

Do Not Get Blown Away by the Hotel Price!

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

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

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

Cancel the Online Order

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

Points on a Credit Card

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

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

Make Use of Loyalty Programs

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

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

Interest rates are so low that it is impossible to get rich by keeping money in a savings account. Would it be worth investing in gold? Read what kind of return the $10,000 invested five years ago would bring.

If you leave it in a bank account, there is little return on money. You must choose the form of investment according to the risk you are willing to take.

Invest in Shares

The money invested in the equity index fund is invested entirely in shares. The price development follows the fund’s return.

When you buy shares, you become a partner in the company in which you buy shares. As a partner, you get to participate in the company’s profits. You can also take part in any increases in the share price.

Stocks are the best way to invest money. Historically, equities are the asset class that has delivered the best returns over time. Over the past 100 years, equities have produced an average of about 8-10% return per year. It may sound small, but it gives fantastic results with the interest-on-interest effect over time.

Mutual Funds

Mutual fund returns are divided proportionately between risk-free interest rates and market returns on shares. If the market is doing well, mutual funds that invest more in stocks will perform better than those that take less risk.

Investing in mutual funds is safe and sound. When you put your money in a fund, the fund’s team of experts will invest your money in various securities and assets. The type of securities in which the fund invests your money is determined by the type of fund you choose.

You can choose between, for example, equity funds, fixed-income funds, or index funds. An equity fund invests your money in stocks; a fixed-income fund invests your money in interest-bearing investments; an index fund invests your money so that your return follows a particular index, and so on. We recommend investing in equity or index funds under 50 because they provide the best return over time.

Housing Investment

Buying your own home in the long run is always a good investment. It will probably be your most significant investment, so be careful. Do not buy an overpriced home, but make sure you can afford to stay even in tough times. A long-term perspective is a winning strategy in the housing market.

When investing in a home, try not to consider it an investment. Choose a convenient home you can imagine living in for a long time. The longer you live in your home, the better the investment will usually be.

Rental income is expected to exceed costs, but it isn’t easy to estimate how brightly. Regarding investment, the price change does not tell nearly all about the return on an apartment. In addition to the increase in value, the rental income must be considered, above all, the wear and tear of the apartment and repairs, as well as company compensation.

Saving Account

Having the money in a regular savings account is a boring investment that only gives a few percent or two in today’s situation. However, high-interest accounts offer up to 10% in interest. Still, the deposit guarantee does not cover them, meaning you take a significantly higher risk if you deposit money there. 

Money increases interest (switch to another service) in a savings account, usually less than 1% per year. If $10,000 had been put into a savings account offering an annual interest rate of 0.1% five years ago, the balance would now be $10,050.

Investing in Gold

Five years ago, $10,000.00 could buy 7.5 ounces or about 233 grams of gold. Now, selling this amount of gold would yield $8,170.00, so the investment would be a loss.

Investing in gold is not very common. It is considered a security investment. It is thought that gold will hold its own if something surprising happens in the world. But the precious metal itself produces nothing. It just lies in the vault and incurs costs. It hardly makes sense for anyone to inject all their investment gold.

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.

Working with innovation can seem chaotic, confusing, and unmanageable. In addition, as a leader in innovation projects, you must have professional and management credentials. At the same time, you must work systematically with innovation and anchoring in the organization.

As a leader of innovation tasks, you must possess specific professional and managerial qualifications. At the same time, you must work systematically with innovation and anchoring in the organization. It is our experience that many focus solely on the innovation process itself and thereby overlook organizational factors that are crucial to the quality and sustainability of your innovation work.

Get Rid of the Idea of the “Perfect Idea”

When was the last time you encountered the perfect idea coming dumping from the sky and giving you the answers to all your challenges? It occurs and is preserved, but something is amiss when 80% of all ideas fail or disappoint after being put to the market. Your vision may be ingenious, but if you do not work hard to make it relevant and valuable, it will not help. Therefore, test your idea early in the process, build prototypes, involve your target audience, and get feedback. And be prepared to let go of your heart child if your target audience isn’t as enamored with it as you are.

Refine the Challenge and Set Your Creativity Free

Yes, it sounds contradictory, but creativity thrives well with limitations. There is logic because no one has yet found the golden solution to global hunger, water scarcity, and climate change. Instead of losing your breath and getting stuck, break the problem down and start providing clean water to a small village in Ghana instead of trying to save the world in one fell swoop. That way, you give your creativity the best terms.

Find Out if You are Solving the Right Problem

A challenge has happened, and now you must develop ideas for the big gold medal. You must find the golden solution, right? We are often a little too eager to start with the idea development phase of an innovation project. But before you go too far, take a step back, delve into the problem you’re trying to solve, and make sure you’re tackling the relevant issue. It is asking the right questions for the challenge and challenging the assumptions. Both you and your colleagues have built around the challenge; do not be surprised if it turns out this is the utterly wrong problem you have started solving.

Decide How You Work with Innovation in Your Organization

When innovation is often “degraded” to be chaotic and unmanageable, it is because you, as a company or organization, have not made active and explicit choices about how you want to work with innovation. If innovation is to be something more than just random and difficult-to-manage development projects in your organization, you and your colleagues must make many strategic choices, for example:

• Why do we want to work with innovation, and what should come from it?
• How much do we want to work on innovation?
• How will we work with innovation?
• Should we train people for it?
• Should we bring in knowledge from outside?
• How do we handle IPR?

Remove Chaos and Put Innovation in the Formula

It takes a lot of achievement to manage and lead innovative initiatives. However, there are several ways to standardize your work to build momentum and achieve concrete outcomes. You can control and direct your work with innovation with the same success as other initiatives in your business if you have the necessary information, tools, and mentality.

Get Tools, Knowledge, and Systematics – Become a Certified Innovation Leader

With an education in innovation management, you get access to a toolbox that equips you to make significant, strategic choices about working with innovation and create the proper framework and direction for your innovation projects – something that ultimately has a positive effect on the bottom line. 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.