Starting an online business used to be a thing of the future and difficult to do. Now, starting an online business is not only simple, but the cost for a startup in most cases is so low that almost anyone can bear it. Many wantrepreneurs stay in the dream stage and never pursue starting their own business into a reality because they think they can’t afford it or lack the skills.

While there is truth in the fact that starting any business carries some risks and takes some guts to do in the case of online businesses, many of them can be started and run while you don’t quit your “day job” for security. This fact has now eliminated your last excuse, and it’s time to go from wantrepreneur to entrepreneur. Now let’s make it even easier for you to get going and start your online business today! Here are six easy to start online businesses you can start NOW!

Start a Listicle Blog

A fun, easy, and cheap business idea that anyone with some creativity can start is a listicle blog. A listicle blog is a short-form blog that uses lists as the key structure of the blog. These blogs are quick to create, and the costs to start the site will be obtaining the domain name and website hosting, which is minimal and can vary depending on which hosting site you use. The other option is to set up your listicle blog on an already established blog site, which can be completely free in many cases.

Start Affiliate Marketing

Affiliate marketing is selling or promoting products for websites or sellers. When you market a product as an affiliate, you make a commission for every item that sells due to your efforts. The best part of affiliate marketing is that you don’t have to deal with the product shipping or other aspects of the sale. You are presenting the product for sale to audiences to which you have access. Most major online retailers have affiliate programs. You merely need to sign up, set up payment arrangements, and start posting and linking to products. How you do that is up to your creative mind.

Selling Your Products and Services

If you are creative, you can make your products or services to sell or offer online and start your own online shop. There are site builders that help you build a website for little to no money, and you can attach shopping tools that will give your customers the ability to order your products or services through the site. You can also join websites that charge you a fee or a percentage of sales to have a shop on their site. Social media is another way you can sell or offer your products and services, and it is free unless you pay to take out ads on the sites.

App Building

If you are creative and have great app ideas, you can make money by creating an app. For the cost of app creating software, you can take your app idea and make it a reality, then offer it through app stores on various devices. Depending on how in-depth the app is, you can charge upfront for the app or have in-app add ons or ads as ways to monetize your creation.

Stock Trading

While stock trading may seem more like investing than a business, with the options available online when it comes to playing the stock market, it can be a profitable full-time job. Since most of us didn’t go to school to become stockbrokers, this online business will require some research. This list is also a bit more expensive at startup, depending on how much the minimum investments are. If you have a bit of startup capital, you can start this business right away.

Professional Freelancer 

Freelancing covers a multitude of industries. If you have a skill that you can hire out for contract work, becoming a freelancer is a great business to start. The best thing about freelancing is you aren’t limited to one type of skill if you have more than one that people may seek.  If you have a skill and want to start your own business, freelancing is the way to go. Not to mention, you get to do what you love and not what you don’t!

Conclusion

There are so many online businesses you can start quickly. These six are businesses you can start today with little to no capital. A few things to keep in mind when starting an online business. Choose something you will love to do, make sure you can afford the startup, keep your main job until your online business equals at least 70% of your current income, and don’t be afraid to start more than one type of business.

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.

Interest rates affect our financial life in two ways, either when it comes to savings, in which case we want higher interest rates, and with loans and other lines of credit related to repayment, in which case we want lower interest rates. When we start our savings account or obtain a loan or credit card, we should negotiate the best rates possible.

We often get these accounts, cards, and loans and don’t know we can do better because we feel as though these rates are set in stone. There is nothing further from the truth. Here are three ways to get the best interest rates and bang for your buck with your banking institution.

Choosing a Bank

Banks are about getting your business. The banking industry is competitive; therefore, you can afford to be choosy. Here are some things to look for in a bank that will get you higher returns on your savings and lower rates on lines of credit:

• Low bank fees
• Higher interest savings account
• Interest gaining checking account
• ATM fee forgiveness
• Cashback checking account
• Low-interest membership loans
• Low-interest credit card

The bottom line is when choosing a banking institution. You want to make sure it is well-rounded and gives you a lot of value for your money. In some cases, credit unions, online-only banks, and banks created to serve specific customers tend to have more to offer members than chain banks. However, don’t count those chain banks out. Many of them are making changes to match their more specialized competitors.

Renegotiation

If you already have a banking institution and are not getting a high return on your savings or are paying high-interest rates on loans or other lines of credit such as credit cards, it is time to renegotiate. Remember, banks are competing for your business, so you might be surprised at how willing they are to negotiate. It is a business, so they may not advertise that they are excited to negotiate lower revenue for themselves, but they also don’t want to lose the gains they get from having you as a customer.

Keep in mind that they are more willing to negotiate with someone who is a loyal customer who has been making deposits and regular and on-time payments, so before you go in for the renegotiation, be armed with data that supports your status as a loyal customer that should reap the rewards for that loyalty. Another bargaining chip that every bank member has is that they can take their business elsewhere, so use that fact as leverage if your current bank is unwilling to renegotiate terms.

You can go to another bank that offers better terms upfront, and if you carry a credit card, loan, or other lines of credit with the bank you are leaving, there are options to relieve you of those debts so that you can break all ties. Remember, banks need you more than you need them, so you do have some power.

Credit Repair

In many cases, the reason you have the interest rates you do is because of poor credit. You can do many things to raise your credit score and repair it, which will give you more financial strength to get better rates or qualify for banking institutions that factor in credit reports when setting up accounts or considering lines of credit. Here are some things you can do to repair your credit and give you more power:

• Get a secured credit card and charge items you can immediately pay off
• Get a secured loan and make double payments or pay in full quickly
• Pay off any legitimate issues on your credit report
• Dispute any non-legitimate issues on your credit report
• Make double monthly payments on any bills that report to credit bureaus
• Obtain a low-interest loan to pay off all debts to consolidate them

There are many other things you can do to improve and repair your credit. All that is required to fix and raise your credit is effort. Many of those who have poor credit give up hope and don’t realize they can fix it and that it is never too late.

Conclusion

These three focus areas will ensure that you get the best interest rates and returns on accounts or rates that have gains attached. They will also ensure that you will get the lowest interest rates possible when you obtain credit cards and other credit lines through your banking institution. One thing is guaranteed. If you do nothing, you gain nothing, so there is no downside to trying.

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.

Financial debt is something that many have to deal with at some time or another in their life. Due to poor spending habits or taking out loans for larger purchases, you need to work to overcome debt. Overcoming debt is possible, but there are some mistakes that many people make when it comes to debt. Here are six common mistakes people make and how to overcome them to wipe out the debt.

No Negotiation

It is surprisingly easy to negotiate your credit card debts. Most people don’t even think about negotiating the terms of their debts and payments, but it is one of the easiest things to do. In most cases, you merely need to pick up the phone and call your bank and ask if a lower interest rate is possible. Though this is an easy task, many people don’t do it. One call could save you thousands of dollars in some circumstances, so make that call.

Failing to Plan

Most people don’t think it is necessary to have a planned budget to pay off their debts. This could not be further from the truth. You need to have a planned budget that shows you exactly where you’re spending, so you know where to make changes and cuts.  The most important thing to remember is that you need to create a strategy and stick to it. While you may have to do without some luxuries for a little while, it will be worth it when you are debt-free because of your efforts.

Failure to Prioritize

Many people don’t prioritize debt. If there is difficulty with making payments in some cases, they ignore the debt and allow it to grow or default. Once you make your debt a priority, you must put the debt that carries interest first, such as credit cards or loans. Paying off the highest interest debt first will save you money as the interest rates can make the debt grow and possibly become unmanageable.

Paying Bills Late

When people fail to pay their bills on time, the amount increases after the due date because of late fees. It means that you are just giving away your money in late fees to credit card companies, banks, and landlords. Paying late on some bills also affects your credit score, so you not only get hit with the fees but also decrease your purchasing power. To fix this problem, you need to budget and live within your means and pay your bills on time. If you are consistently late, you need to find where the problem is and fix it.

Not Asking for Help

Pride is a tough thing to deal with, but many people have it when It comes to finances. While it is not suggested that you ask for financial assistance to pay your bills or make ends meet regularly, there are times when it could be the difference between peace of mind or dire issues. You need a roof, electricity, water, and food. If any of those are threatened and don’t have the means to cover them, you can ask for help. In some cases, you may have a friend or family member that can give you a no-interest loan you can use to consolidate and pay down debts so you can start on an even field. Put aside that pride and ask, the worst they can say is no.

No Emergency Fund

Having an emergency fund saved is so vital that a whole article could be dedicated to it. If you have no other savings, account you should at least have an emergency fund. Start small and save $1,000 in as large increments as you can afford without hardship. Once you have reached this goal, start saving towards equal to six months of your income. Once you have this saved, you can decide if this is enough padding for you or save to twelve months of income.

Some important things to remember while building an emergency fund. Don’t focus on any other savings until your emergency fund is complete. Use the highest interest savings account you can find for these savings, so it grows. Money market accounts are notoriously great for this type of savings because of interest and ease of access without being too easy to access that you are tempted to spend for non-emergency expenditures. Have a trusted friend or family member named on the account or give power of attorney to someone if you are incapacitated so it can be accessed to take care of everything during those times.  

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.

Are you ready to take control of your financial destiny? Do you dream of a life free from the shackles of debt and financial stress? The path to financial freedom may seem daunting, but anyone can achieve their financial goals with the right tools and knowledge.

At the heart of this journey lies the art of budgeting. But not just any budgeting – effective budgeting that empowers you to make informed decisions, track your expenses with precision, and allocate your resources in a way that aligns with your values and aspirations.

In this comprehensive guide, we’ll dive deep into the world of budget categories, exploring the essential expense categories that form the foundation of any successful financial plan. From personal expenses to business operating costs, we’ll leave no stone unturned in our quest to help you master your money.

Whether you’re just starting on your financial journey or a seasoned pro looking to fine-tune your approach, this article will provide you with the insights and strategies you need to take your financial management to the next level.

The Importance of Accurate Expense Tracking

Navigating personal expense tracking is crucial for effective financial management. Tools like QuickBooks help individuals understand their financial status, manage budgets, and make informed decisions. Implementing a comprehensive expense categories list maintains control over budget items and cash flow, preventing overspending and insufficient savings.

Precise expense tracking is essential for effective expense management. With clear insight into spending, funds can be distributed wisely across categories, ensuring a balanced financial plan. Meticulous tracking fosters discipline, curtails impulsive purchases, and enhances expense control.

Common Expense Categories

Before delving into the intricacies of personal and business finances, familiarize yourself with these common expense categories:

• Housing: mortgage or rent payments, property taxes, homeowners or renters insurance, and maintenance costs
• Transportation: car payments, gas, insurance, and repairs
• Utilities: electricity, water, and internet
• Food: groceries and dining out
• Personal Care: toiletries, cosmetics, health care essentials, and clothing
• Entertainment and Discretionary Spending: non-essential but common parts of most budgets

Personal Expense Categories

While the general categories are relevant to both personal and business finances, specific household budget categories are particularly pertinent to personal finance:

• Education: tuition, textbooks, and other related costs
• Childcare and School-related Expenses
• Personal Savings: setting aside money for emergencies, retirement, or specific objectives
• Insurance Payments: life, health, and auto insurance
• Debt Repayment: student loans, credit cards, or personal loan

Small Business Expense Categories

For small business owners, distinct business expense categories must be considered:

Operating Costs

• Office Rent: cost for the physical space where the business operates
• Utilities: electricity, water, gas, internet, and other essential services
• Office Supplies: paper, pens, printer ink, and other materials necessary for day-to-day operations
• Salaries: payments made to employees for their services
• Employee Benefits: non-wage compensation such as health insurance, retirement benefits, and paid time off

Other Business Expenses

• Advertising and Marketing Costs
• Professional Fees: lawyers, accountants, and consultants
• Business Insurance
• Taxes
• Interest and Bank Fees

Tracking Fixed and Variable Expenses

Fixed expenses are consistent monthly, including mortgage or rent payments, car payments, insurance premiums, and subscription services. While they are consistent, regular reviews can lead to expense reduction opportunities.

Variable expenses vary each month, including groceries, gas, dining out, and entertainment. The flexibility of variable expenses allows you to adjust your spending in alignment with your financial situation and objectives.

Budgeting for Savings and Investments

Savings and investments should never be an afterthought; they ensure financial stability and foster growth. Allocate funds for an emergency reserve, retirement savings, or investments such as stocks or real estate.

Setting clear financial goals is a powerful incentive for consistent savings and smart investing. Accumulating wealth and striving for financial freedom demands more than mere savings; investing plays a critical role in wealth expansion. Nonetheless, comprehend the associated risks and engage in investing with a strategic, informed approach.

Embarking on Your Journey to Financial Mastery

Throughout this guide, we’ve explored the critical budget categories that form the bedrock of effective financial management. From personal expenses to business operating costs, we’ve provided the tools and insights needed to take control of your finances and pave the way for a brighter financial future.

But knowledge alone is not enough. To truly transform your financial life, you must take action. Start by implementing the strategies and tips outlined in this article. Create a budget that reflects your unique goals and values. Track your expenses with unwavering dedication. And most importantly, remain committed to your journey, even in the face of challenges or setbacks.

Remember, mastering your finances is not a destination but a lifelong journey of growth, learning, and self-discovery. With each step you take, you’ll gain greater clarity, confidence, and control over your financial destiny.

So, embrace the power of effective budgeting. Let the insights from this guide serve as your compass, guiding you toward a life of financial freedom and abundance. The road ahead may be filled with twists and turns, but armed with the knowledge and tools you’ve gained, you have everything you need to succeed.

Your journey to financial mastery starts now. Take that first step, and watch as your dreams of financial independence become a reality. The future you’ve always envisioned is within your reach – all it takes is the courage to pursue it.

FAQs

Q: What are the essential budget categories for effective personal finance management?

A1: The crucial budget categories for the management of finances encompass housing, transportation, utilities, groceries, self-care, leisure activities, education, childcare, savings, insurance premiums, and debt settlement. Individuals can enhance their control by diligently monitoring and distributing funds among these categories. Strive towards achieving their financial objectives.

Q: How can accurate expense tracking help me improve my financial situation?

A: Precise expense tracking plays a role in adept financial management. By gaining insights into your spending patterns, you can make informed decisions regarding the allocation of your funds across various budget categories. This practice fosters discipline, curtails purchases, and empowers you to devise a rounded financial strategy that aligns with your immediate and long-term goals.

Q: As a small business owner, what key expense categories should I consider?

A: Small business proprietors should focus on expenditure categories such as expenses (rental charges, office space utilities expenses, office supplies costs) and other business outlays (expenses related to advertising and marketing initiatives, professional service fees, business insurance premiums, tax obligations, and banking charges). By monitoring and managing these expenses, business owners can uphold the well-being of their company and make informed decisions to foster expansion.

Q: What’s the difference between fixed and variable expenses, and why is it essential to track them separately?

A: Fixed expenses remain month after month, covering costs like mortgage payments, car installments, and insurance premiums. On the side, variable expenses fluctuate on a basis and encompass items such as groceries, fuel, dining out, and entertainment. Segregating these expenditures enables you to pinpoint areas where adjustments can be made based on your status and objectives. While fixed expenses can be periodically scrutinized for cuts, variable expenses provide room for immediate alterations.

Q: What are some final tips for mastering my budget and achieving financial freedom?

A: When it comes to mastering your budget and reaching freedom, it’s essential to prioritize consistency, self-control, and flexibility. Make it a habit to regularly assess and tweak your budget categories based on any changes in your circumstances and aspirations. Don’t forget to celebrate your accomplishments along the road, as this can help you stay motivated. Remember that effective budgeting is about optimizing your resources to achieve your goals rather than depriving yourself. Embrace the process of learning and development. Stay dedicated to your journey toward financial expertise.

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.

Every person who owns or leases a car should have car insurance. It is the law in most states, and not having it could cost you tickets and penalties. Since it is necessary, you need to make sure you get the right car insurance coverage that won’t break the bank. To help you find the right car insurance, here are eight money-saving tips.

Shop Around

Car insurance can widely vary depending on several factors. Your driving record, age, and car type are the main factors that affect the costs. Most people don’t realize that most insurance coverage is the same, no matter the insurance company, in what they offer for coverage options, especially if you are only carrying minimum liability. The differences are more dependent on how they structure factors about the person being insured.

If you have a great driving record, good credit, and are older, you will save hundreds of dollars. But don’t count yourself out if you have bad credit, an accident, or are under 25. Some companies still offer less costly insurance for your needs. The key is to shop around until you find insurance that meets the needs that you can afford.

Take Advantage of Discounts

Almost every major car insurance company has discounts they give drivers. Even smaller unknown insurance companies will have discounts. Do your research to see what discounts the companies you are considering have to offer.

Some insurance companies will offer savings upfront, and others will offer discounts as you go. These discounts can come from money back, lower premiums, or discounts for safe drivers, or for every year you are insured with their company.

Drive Safely

Driving safely may be the best way to save on car insurance. Everyone knows that getting a ticket or having an accident drives your insurances costs up. However, some don’t know that going without an accident or a ticket year over year. Suppose you are a driver over the age of 25; the savings increase. In many states, you can also take a defensive driving class to save. All of these show that you make safety concerns, and insurance companies will reward you for it.

Drop What You Don’t Need

When you purchase a car through a lender or lease a car, you will carry the maximum insurance. The lender wants you covered for everything since they technically own the car until you pay it off. Full coverage insurance can be costly. Once you have paid off your car, you should assess what you need and drop anything you don’t need.

If your car is older and not worth much, you will be wasting money having full coverage on the car. For example, if your car is worth less than your deductible, it doesn’t make sense to spend a lot on insurance. Minimum liability or whatever the minimum the law allows is more than enough for a less expensive car.

Purchase a Car that is Cheaper to Insure

The safer the car is considered in the market, the cheaper the car insurance. Certain types of vehicles will have lower insurance, such as minivans and certain SUVs. Some car models will always be expensive because they are at higher risk for tickets and accidents such as sports cars. Even some companies will raise rates if you get a sports car that is a bright color that attracts the attention of law enforcement and is generally ticketed more.

Increase the deductible

You can instantly save money when you raise the deductible if you carry full coverage insurance. It is similar to a down payment on a car lowering the overall car payments. If you are in a damaging accident and willing to pay more out of your pocket to repair the car, you will pay less per month on your premiums. You may never get in an accident; therefore, these savings make sense.

Improve Your Credit Score

Many car insurance companies run a credit check as part of the process of determining the premium of your car insurance. Raising your credit score can, in many cases, greatly reduce the overall cost of your insurance or lower the down payment the insurance company requires.

Usage-Based Insurance

If you don’t drive your car often, you might want to look into getting usage-based insurance. Some insurance companies factor in usage on all drivers’ levels, so if you can give an accurate accounting of your mileage, you can save a lot of money on your insurance. Those drivers that are mostly at home and drive for errands will see great savings over drivers who use their car to drive all over the country for work.

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.

Spot Scams: How to Recognize and Avoid Lending Fraud

Avoid lending scams by recognizing critical warning signs like guaranteed approval offers, upfront fee demands, and unsolicited loan contacts that signal fraudsters attempting to steal your money and personal information. Legitimate lenders never promise loans without credit checks, require advance payments before funding, or pressure immediate decisions—understanding these red flags combined with proper verification steps protects you from the $12.5 billion Americans lost to fraud in 2024 alone.

As founder and CEO of Complete Controller, I’ve spent over 20 years guiding businesses through complex financial decisions, witnessing firsthand how lending fraud devastates both personal and business finances. Just last quarter, I helped a manufacturing client recover from a sophisticated business loan scheme that cost them $47,000 and nearly destroyed their credit rating—yet every warning sign was visible from day one. Through this article, you’ll gain the knowledge to spot these red flags, verify legitimate lenders, and protect your financial future using proven strategies I’ve developed while helping hundreds of businesses navigate the lending landscape safely.

What is lending fraud, and how do you avoid it?

• Avoid lending scams by verifying lender credentials, recognizing red flag behaviors, and never paying upfront fees
• Legitimate lenders maintain state licensing, provide transparent terms, and deduct fees from loan proceeds
• Warning signs include unsolicited offers, pressure tactics, wire transfer requests, and too-good-to-be-true rates
• Protect yourself by researching through NMLS database, reading all contracts, and trusting your instincts
• Report suspected fraud immediately to FTC and state authorities to prevent further losses

Understanding the Lending Fraud Landscape: What Scammers Don’t Want You to Know

The lending fraud industry has transformed into a sophisticated operation targeting desperate borrowers through multiple channels and increasingly convincing tactics. Consumer fraud losses jumped 25% in 2024, reaching $12.5 billion total, with the percentage of fraud victims who lost money increasing from 27% to 38% year-over-year according to the Federal Trade Commission.

Modern scammers leverage artificial intelligence to create believable phishing emails and generate deepfake celebrity endorsements for fraudulent investment schemes, making detection more challenging than ever before. Investment scams alone caused $5.7 billion in losses, with 79% of victims losing money at median losses exceeding $9,000 per person.

The psychology behind lending scams

Fraudsters specifically target individuals facing financial stress, knowing that desperation can override normal caution and critical thinking processes. They craft messages that promise immediate relief from mounting bills, poor credit scores, or business cash flow problems.

How AI is changing the scam game

Advanced technology now allows scammers to create convincing fake documents and impersonate legitimate financial institutions with unprecedented accuracy. These tools help fraudsters bypass traditional detection methods that consumers once relied upon for protection.

Red Flags That Scream “Lending Fraud”: Warning Signs Every Borrower Must Know

Recognizing the warning signs of lending scams can save you thousands of dollars and protect your credit rating from devastating damage that takes years to repair. Mortgage scam reports have exploded 407% since 2022, growing from 14 monthly reports to 71 per month by 2025, with victims averaging $16,829 in losses when fraud succeeds.

Guaranteed approval and no credit check claims

Legitimate lenders always review creditworthiness before approving loans, making guaranteed approval promises an immediate red flag for potential lending fraud. Real financial institutions have regulatory obligations to assess borrower ability to repay, which requires examining credit history, income verification, and debt-to-income ratios.

Upfront fee requests and wire transfer demands

Real lenders deduct fees from loan proceeds rather than demanding advance payments through untraceable methods like wire transfers or gift cards. Any request for payment before receiving loan funds violates federal law and indicates fraudulent intent.

Watch for these specific payment red flags:

• Demands for wire transfers to personal accounts
• Requests for gift cards or cryptocurrency payments
• Instructions to send money through apps like Zelle or Venmo
• Requirements to pay “processing fees” before approval
• Claims that upfront payments will improve your approval odds

Pressure tactics and limited-time offers

Scammers create artificial urgency to prevent victims from researching their legitimacy, using phrases like “act now” or “offer expires today” to force quick decisions. Legitimate lenders understand that borrowing decisions require careful consideration and never rush applicants through the process.

The Complete Controller’s Guide to Verifying Legitimate Lenders

Drawing from decades of financial consulting experience, I’ve developed a systematic approach to verifying lender credibility that has protected countless clients from sophisticated fraud schemes. Small business lending fraud increased 13.6% year-over-year in 2023, with only 27% of fraudsters caught during loan origination—down from 32% in 2022.

Using the NMLS consumer access database

The Nationwide Multistate Licensing System provides the most reliable method for confirming lender licensing and regulatory compliance across all states. Every legitimate mortgage lender, loan originator, and many consumer lenders must register with NMLS and display their unique identifier.

Checking physical business locations and contact information

Legitimate lenders maintain verifiable business addresses and professional contact methods that can be independently confirmed through state records. Verify physical locations through Google Street View, check state business registrations, and confirm phone numbers match official listings rather than temporary VOIP services.

Researching better business bureau ratings and customer reviews

Multiple review sources provide insight into lender reputation, but be wary of fake reviews designed to boost scammer credibility. Cross-reference BBB ratings with state attorney general complaints, CFPB databases, and industry-specific review platforms for comprehensive reputation assessment.

Protecting Yourself from Fake Loan Schemes: A Step-by-Step Defense Strategy

Developing a systematic approach to loan shopping provides multiple layers of protection against increasingly sophisticated lending fraud attempts targeting both individuals and businesses. With 64% of lenders expecting fraud to continue growing, proactive defense strategies become essential for financial safety.

The three-lender comparison rule

Always obtain quotes from at least three legitimate lenders to establish baseline terms and identify offers that seem suspiciously favorable or unfavorable. Document each lender’s terms, fees, and requirements in writing to create clear comparison points that reveal outlier offers, potentially indicating fraud.

Documentation verification and contract review

Thoroughly examine all loan documents for inconsistencies, unclear terms, or missing information that could indicate fraudulent lending practices. Pay special attention to:

• Company names matching across all documents
• Physical addresses aligning with verified locations
• Phone numbers connecting to actual business lines
• Email addresses using professional domains
• Clear identification of all fees and charges
• Specific repayment terms and schedules

Safe communication and information sharing protocols

Never share sensitive financial information through unsecured channels or with lenders who contacted you first, rather than responding to your inquiry. Establish communication through official channels only, using encrypted portals for document submission and avoiding text message or social media interactions about loan details.

Case Study Analysis: Real Victims, Real Lessons from Recent Lending Fraud Cases

The Federal Trade Commission’s 2025 action against Accelerated Debt Settlement reveals how sophisticated lending fraud operations target vulnerable populations, including seniors and veterans. This $100 million scheme used multiple deceptive tactics, including impersonating banks, credit bureaus, and government agencies, to collect illegal advance fees while promising impossible debt reductions.

Key tactics used by the accelerated debt scammers

The operation combined telemarketing with direct mail and online advertising to reach potential victims, then used high-pressure sales tactics and false impersonation to extract advance fees. Scammers posed as representatives from major banks, the Social Security Administration, and credit bureaus to build false credibility.

Financial impact on victims

One Army veteran lost $13,000 and watched his credit score plummet from the high 700s to the 500s, nearly losing his security clearance and employment. Another disabled veteran was forced to drain his savings and retirement funds after paying nearly $10,000 in advance fees for debt relief services that never materialized.

Regulatory response and consumer protections

The FTC’s swift action resulted in asset recovery for over 7,000 victims, demonstrating the importance of reporting suspected fraud to federal authorities. This case highlights how regulatory agencies can intervene when consumers report suspicious activity promptly.

Building Long-Term Safe Lending Practices for Individuals and Businesses

Establishing systematic lending practices provides ongoing protection against evolving fraud tactics while ensuring access to legitimate financing when needed. Throughout my career helping businesses secure proper financing, I’ve seen how preparation and knowledge serve as the best defense against sophisticated scams.

Creating a personal lending safety checklist should include:

• Pre-approved lender lists from trusted sources
• Standardized verification procedures for new lenders
• Red flag identification protocols
• Documentation requirements before sharing information
• Cooling-off periods for major financial decisions

Professional financial guidance can provide an objective evaluation of lending opportunities and help identify potentially fraudulent offers that emotional decision-making might miss. At Complete Controller, we’ve developed comprehensive verification frameworks that have saved clients millions in potential fraud losses over the years.

Final Thoughts

Avoiding lending scams requires vigilance, systematic verification, and understanding that legitimate lending follows predictable patterns that scammers cannot replicate. Throughout my two decades as CEO of Complete Controller, I’ve learned that the best defense against lending fraud combines education with healthy skepticism and professional support.

The data speaks volumes—with fraud losses reaching $12.5 billion in 2024 and mortgage scam reports growing 407% since 2022, protecting yourself has never been more critical. Real lenders are licensed, transparent about terms, and never demand upfront payments or guarantee approval without a proper credit review.

When doubt creeps in, take time to research and verify rather than rushing into decisions you might regret. Your financial future depends on making informed choices backed by proper due diligence. For expert guidance on business financial management and comprehensive fraud protection strategies, contact the experienced team at Complete Controller today.

Frequently Asked Questions About Avoiding Lending Scams

How can I verify if a loan company is legitimate before applying?

Check the lender’s license through the NMLS Consumer Access database, verify their physical business address, research Better Business Bureau ratings, and confirm they have proper state licensing through your state’s banking regulator website.

What should I do if I have already sent money to a suspected scam lender?

Contact your bank immediately to report the fraudulent transaction and request a reversal, file a complaint with the Federal Trade Commission at ReportFraud.ftc.gov, notify your state attorney general’s office, and freeze your credit reports to prevent identity theft.

Are all online lenders potential scams I should avoid?

Many legitimate lenders operate primarily online, but digital platforms require extra verification, including checking NMLS registration, reading multiple customer reviews across different platforms, and confirming the lender has been in business for several years with consistent contact information.

Do legitimate lenders ever ask for upfront fees before giving me a loan?

Some legitimate lenders charge origination or application fees, but these are always deducted from your loan proceeds at closing, never required as advance cash payments, wire transfers, or gift cards before loan approval or funding.

What’s the difference between predatory lending and outright lending fraud?

Predatory lending involves legal but unfair loan terms like excessive interest rates or hidden fees that trap borrowers in debt cycles, while lending fraud involves criminal deception where scammers steal money with no intention of providing any actual loan services.

Sources

• RBC Royal Bank. (March 4, 2025). “Top Scams of 2025: What to Watch For.” My Money Matters.
• Inscribe AI. (June 19, 2025). “12 Common Red Flags for Loan Application Fraud.” Inscribe Blog.
• Los Angeles County Department of Consumer and Business Affairs. (July 6, 2019). “Avoiding Predatory Lending and Getting a Good Loan.”
• Mississippi Department of Banking and Consumer Finance. (March 12, 2009). “Consumers Beware of Fraudulent Advance-Fee Loans.”
• Federal Trade Commission. (July 21, 2025). “FTC Halts Illegal Debt-Relief Operation that Falsely Impersonated Businesses and Government.” FTC News.
• Union Square. (2025). “How to Spot and Avoid Loan Scams Online.” Fraud Prevention Center.
• Nav. (April 15, 2025). “Check To See if Your Loan Company Is Legit.” Nav Blog.
• Credit Ninja. (May 21, 2025). “How to Check if a Loan Company is Legitimate.”
• Federal Trade Commission. (March 10, 2025). “New FTC Data Show a Big Jump in Reported Losses to Fraud – $12.5 Billion in 2024.” FTC News Release.
• BackOffice Pro. (May 9, 2025). “Mortgage Scam Statistics 2025.” BackOffice Pro Blog.
• LexisNexis Risk Solutions. (August 6, 2025). “2024 Small Business Lending Fraud Study.”
• Center for Responsible Lending. (February 6, 2025). “Down the Drain: Payday Lenders Take $2.4 Billion in Fees from Borrowers in One Year.”
• Federal Trade Commission. (July 21, 2025). “FTC Halts Illegal Debt-Relief Operation that Falsely Impersonated Businesses and Government, Harming Consumers.” FTC Press Release.
• NMLS Consumer Access. www.nmlsconsumeraccess.org
• Federal Trade Commission. www.ftc.gov
• Wikipedia. “Mortgage Fraud.” en.wikipedia.org/wiki/Mortgage_fraud

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

A mortgage is an interest for land made by an agreement, not an advance. Albeit practically all home loan arrangements contain a guarantee to reimburse an obligation, a home loan isn’t an obligation by and in itself. Here is everything you need to know about mortgage loans.

Reverse Mortgage

The reverse mortgage, although unknown to many, has been popularizing in recent years. It is a formula for the elderly to supplement their pension through a mortgage on their house.

The owner of a home free of charge will ask an entity for a loan with a property as collateral. In exchange, the bank will pay month after month an agreed amount during a period. Once the time comes to finalize the mortgage payment, the client will have two options: return what has been paid or give the property to the lending entity.

Bridge Mortgage

Through the bridge mortgage, the client can obtain financing to acquire a second property. This type of loan is usually requested among families looking for a better home and still paying the previous mortgage. Through this product, the client will have the possibility of having both mortgages (that of the old house and that of the new one) until the first house is sold.

With this, the mortgaged will only have to pay a single fee and not face two different loans. Of course, we will have to assume the commitment to sell the old home in a specific period that will be agreed with the entity.

Subrogated Mortgage

When the mortgagee wishes to improve their loan and reduce their amount owed, they can go to another financial institution and get more favorable loan conditions. It is known as subrogation for bank change.

For this, the client must visit another lender that delivers a binding offer. If the mortgage payor considers it better, the loan’s subrogation will be signed before a notary, paying the new bank the outstanding debt and becoming the mortgaged one’s new debtor.

With this change, the client can benefit from a change in the operation’s conditions and the repayment period without incurring taxes. However, it must assume the expenses that this operation implies, such as notary, agency, or registry, among others.

Multi-Currency Mortgage

The multi-currency mortgage is a type of loan with the same characteristics as a normal mortgage loan. The only difference is that it allows the currency to change the outstanding debt at certain agreed time moments.

In general, stable currencies with low-interest rates such as the yen, Swiss franc, American, Australian, or New Zealand dollar, sterling, and the euro are usually used. Although paying the mortgage with interest from other countries may be cheaper on certain occasions, the fact is that fluctuations can seriously affect the mortgaged if you do not know the foreign exchange market. If the currency to which the mortgage is referenced is revalued, the outstanding capital could increase.

Debt Reunification

The reunification of debt does not imply the sale of a property by the mortgaged party. With this product, what is sought is to pay the installments of several debts and loans in a unified manner by guaranteeing a home free of charges.

The client will pay a single mortgage payment through two options: increasing the amortization period of the mortgage loan that he already has subscribed to or asking his entity for a mortgage on a home he already has to pay off his debts.

In the first case, you must renegotiate with your bank to extend the maturity term and assume that the monthly fee will be somewhat lower to deal with it more easily. In the second, the client will choose to mortgage his house to cancel the debts he already owns. In return, you must pay a monthly fee to the bank during the period you agree with the entity.

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.

Many people have gifts and talents they are either not using or are underutilizing. When we get a job, we will use skills and talents, but we are often not using all the skills and talents we have. This can lead to complete dissatisfaction in your work because you aren’t getting to use all the skills, gifts, or talents you have. While work is about earning an income and generating revenue, there is more to it than that. It’s about earning a living doing what you love, and if you aren’t using all you have to offer, you may never enjoy what you do.

It is not suggested that you quit your bill-paying job. However, you can use your gifts, talents, and skills to earn extra income. Here are six ways to use your gifts, talents, and skills to earn extra income.

Create a YouTube Channel

Create a YouTube channel to share your knowledge on a specific topic and earn money. Having a channel is not synonymous with becoming a famous YouTuber that will have mass influence. If you don’t know how to start, it’s easy since, on the YouTube page, you have a whole tutorial on how to start your channel. Before opening your channel, you must be clear about the subject you’ll present based on your content creation. You must find your niche and stick to that to get a following that will help you earn a living.

Start Your Blog

You might not like the idea of making a video about your skills because you don’t like being in front of the camera. If this is the case and writing is your thing, you always have the option to write. The way to get money through a blog is through advertising on your blog. As with a YouTube channel, you should look at the steps to starting a blog through a tutorial (or two), so you can hit the ground running.

If you are good with being on camera, you can do both a YouTube channel and a complimenting blog. This will increase your chances of becoming an influencer and gaining more income if you monetize them both.

Create an Online Course

If you have a gift, talent, or skill that you can teach to others, there are platforms where you can create an online course. This course is different than doing YouTube tutorials, this will be an online curriculum you create that can include videos, but it is more in-depth with modules and calls to action to check for understanding.

When choosing the subject, make sure it is a subject that others are seeking. Do your research and make sure you know everything there is to know about the subject you are teaching.

Create an E-Book

If you are a good writer, you can take that skill further than a blog and create an e-book. E-books can be how-tos, or they can be entertaining. The ideas and lengths for your e-books are endless. If you can produce content quickly and research subjects that are the most sought after and fun.

Tutor Online

Online learning is growing more and more popular. If you have a skill or a lot of knowledge on a subject or many subjects, you can offer to tutor online. You can also offer it in person at a community center, library, or in your own home.

Become a Guide

People love to go on guided tours of interesting areas with someone that knows what they are talking about because it enhances the experience. If you are a photographer, you can add to the experience by taking photographs to provide them with a guided tour and amazing photographic memories.

Conclusion

Earning extra money with your gifts, talents, and skills requires effort and time invested, but it will strengthen your income while giving you a sense of satisfaction. Once you start earning the extra income, all you need to decide is where to use the money.

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.

The restaurant business is perhaps one of the riskiest businesses to invest in all the business markets. Business owners who decide to open a restaurant choose to do so because they have a passion, if not because they are a glutton for punishment. While owning and operating a restaurant is a high risk for those who have a passion for it, if successful, can have a fulfilling business for years to come. Here are seven ways to make your restaurant a success.

Increase Customers

The most obvious thing to do is to increase customers to generate more sales. To do this, you have to use every marketing strategy available. Most important is the use of social media and technology. Promote offers and let people have a look inside the restaurant through social media. Create brand awareness and increase the use of engaging and quality content. Provide people with discount coupons and offer take-out and delivery options. If your restaurant has a unique dish or something that makes you stand out from other restaurants, make sure to feature these highlights on your website and social media prominently.

Upsell

Encourage people to spend more by asking them about the options available. You can recommend appetizers or specialty drinks during the initial ordering stage while they wait for the main course. You can also offer dessert as you drop off the ticket for payment, advising you can easily add to the ticket. Recommend a hot seller while you’re at it and always let customers know your favorites when pushing additions. The point is to try to get people to order more by asking. If the restaurant is full, each table ordering something more expensive or something extra can take the sales to a whole new level. Train the staff to persuade through the tone and knowledge while keeping it soft to alienate the customer.

Provide an Appealing Atmosphere

Restaurants must provide an aesthetically beautiful environment and maintain hygienic standards. The tables should be cleaned as soon as the customers leave. Bills should be collected promptly to encourage table turnover. It is also important that the staff is well dressed and clean, keep extra uniforms and aprons on hand for unexpected wardrobe issues such as spills or damage.

Properly Train Your Employees

Restaurant employees reflect everything about the restaurant itself. Restaurant staff should be well dressed as well as well-mannered and professional. Make sure whatever the customer says, the staff behaves properly. Your staff is dealing with customers in real-time and face to face, so if one bad thing happens, word of mouth can spread like wildfire. This could be a potentially devastating problem with smartphone innovations having the ability to film or give the users the instant capability to go online and spread the word.

Create Repeat Business

The biggest key to success for every business is retaining the customers it has.  Restaurants need to make a good impression on customers to keep them coming back. Make sure the order delivered is accurate and make the customers feel at home. To attract customers who are dining in, provide them with exclusive discount coupons or free delivery on the first order. Always greet every customer with a warm, friendly smile and provide timely delivery.  Retaining customers can increase sales by 25-125%, according to a Harvard study.

Utilize Social Media

Advertising on social media can take your sales to higher places with little to no cost. Utilize social media to highlight the restaurants’ menu and atmosphere. Have a review button and encourage customers to leave a review to let people know what others say. These reviews can help influence others to try your restaurant when they are looking for dining options in your area.

Stay on Top of Technology

Technology is important to every business; restaurants are included.  Studies suggest that people feel more satisfied and comfortable if they order through the app or online because apps and online purchasing increase the order’s convenience and accuracy. 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.

People who want to become rich faster need to find new ways to earn while holding on to the money they already have. However, that’s not enough. To grow money, a person needs to make smart investments.

Being a smart investor, it is important to invest in things that will offer a reasonable return. A great investment can offer interest and dividends from savings, real estate, etc. To become a successful investor, a person must be fully devoted and focused. Thanks to advance investment options, now a person can start investing with a little as ten dollars. Here are some essential tips for investing everyone should know.

Why Should You Invest?

The main reason to invest is related to the growth of money. Investing allows a person to earn potential compound returns. Thanks to the compounding, a person can earn a million-dollar by just investing one. People who make smart investments are often richer as compare to those who don’t.

Investing sounds a lot more intimidating than it is. Even though every kind of worthy investment has some risk, there is always a larger portion to gain. Investing can be scary, especially if the person is new. Below are a few smart ways to make money grow through investing.

Risk Vs. Reward

It’s no secret, investing comes with a risk. Everyone knows somebody who lost all of their money investing in the wrong places. Some people lost money due to bad decisions, other losses due to scams. However, if invest wisely, a person can reduce risk. The best part about investing young is that a young person will likely invest long-term, for example, a retirement account. Such investments aren’t only less risky but also give bigger benefits. Investing can be risky and scary at times, but a person who never took a risk never did anything.

Where Should You Invest?

Choosing what to invest in can be tricky, especially if the investor is new. There are many investment options available in the market today. Below are a few worthy investing options that one can consider:

Mutual Funds: In this type of investment, an investor will pool a person’s money with other investors. The fund manager will utilize that amount to buy a security for the whole group. According to experts, new investors should invest in mutual funds rather than individual stocks due to the low-risk factor.

Mutual funds allow a person to invest in a huge portfolio regarding stocks rather than just relying on one stock. They aren’t only safer but also require fewer investments. Buying mutual funds through a fund company such as Fidelity will save a lot of money on trade commission; however, mutual funds can also be purchased through any brokerage account.

Retirement Accounts: To save for retirement, IRA gives a certain amount of tax-related advantages. The downside comes depending on how much a person can fund that account yearly and when they can withdraw the money.

Traditional IRA: With such types of accounts, a person’s contributions can qualify for deductions on their tax returns. With, that there is a potential that those earning will also become tax-deferred until a person’s retirement age.

Real Estate: No doubt investing in real estate can change a person’s life in days. Investing in real estate is a long-term process, and a person can also choose to rent their property for monthly rent. The best part about real estate is that with time, the property’s value will only go up with the rent. However, just like any other investment option, real estate also has a few risks that a person should consider before investing.

Conclusion

There is no question that you should be investing your money. Investments are a way to secure your future and ensure that you can retire with ease. It is a matter of learning how and where to invest. If you aren’t comfortable making investment decisions on your own, you can always hire a professional to help you make the best investment choices for you.

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.