With the arrival and rise of social media marketing, a huge cutthroat competition has broken loose. Everyone, regardless of the type of business, is trying to one-up each other. It is getting harder for a business to promote their brand and stay relevant due to all of this competition. Encouraging people to interact with a business takes a lot of effort through relevant images, videos, and attractive posts. There are also a few other tools a person can use that will help them get an edge over their competitors. Here are eight amazing tools you can use for social media marketing.
Facebook
Due to its massive popularity, Facebook is considered one of the best social media marketing platform for businesses. The best thing about Facebook is that, even though it is a social platform, it still promotes business and provides analytical tools that a person can use to see how many clicks they got on their post and post reach. Facebook also offers paid ads marketing options that a person can use to attract a more targeted audience. This option also allows a person to target the market of a specific country if they choose. Facebook is the top social media marketing tool because of its affordable marketing options that almost anyone can use.
YouTube
If a person has a business or even a hobby related to making interesting, helpful, or funny videos, then YouTube is their perfect promotional tool of choice. YouTube also allows live streaming, and a person can also put paid ads on their video content and are paid per click. A person can also build a following on YouTube with content related to their business and other interesting stuff. It is so easy to post videos and maintain a channel on YouTube that almost anyone can do it. YouTube is one of the most effective and feasible free marketing tools there is out there today.
Pinterest
Pinterest is a platform that can market services and items through a visual plea. Pinterest can be the best add-on to promote products related to food, drinks, hand, and other craft, décor, men and women fashion, wedding accessories, etc.
Twitter
If a business needs public exposure, Twitter is the way to go. Content posted on Twitter with proper hashtags makes it more viral and easier to connect with people. Also, Twitter offers paid marketing strategy options.
Google Analytics
This amazingly handy tool is mostly used by bloggers to analyze their blog or site through Google. It was launched back in November 2005 and is free of cost. Google Analytics does not tell a person how many hits they got on their blog or site; it only tells about actual visitors that a site or blog has had, where they came from, and how long they stayed.
Instagram
Instagram is the best way to promote a business through images. Instagram is a social media marketing tool that mostly charms people who enjoy sharing images. If used properly, it can be used as a promotional tool that almost everyone uses at this point.
Agora Pulse
Most minor business setup does just fine even with these social media marketing tools. However, using a marketing tool will surely aid their cause. Even though the Agora Pulse is the cheapest tool out there, it is one of the most effective and will surely be worth its price.
Bitly
Most people probably have never heard of the tool known as Bitly. The reason for adding Bitly to this list is because it simply works. Bitly is a URL shortening tool that can make a long URL short without damaging. This tool is mostly used to reduce the URL size for a platform, such as Twitter, that only allows the maximum 140-character post.
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.
Nowadays, many people have a passive income, which, added to their salaries, allows them to have a better lifestyle and a decent retirement. These possibilities are why it is increasingly popular to look for ways to earn a passive income. Passive income can be generated automatically without additional investment in time, money, or physical and mental total effort.
Among passive income, there are two types. The first is related to those in which money it generates money, regardless of redundancy. The second does not depend on the capital you own; this is obtained from creating a product or service that lasts over time. It becomes an automatic source of income, such as when you have a restaurant and do not depend solely on what you produce.
Here are a few ways you can earn passive income online:
Photographs and graphic pieces: If you are a good photographer, there are image banks that you can put your photos or graphic pieces on that will gain you royalties if the image is sold for use. If a company or individual wants to purchase a photo for exclusive use, the royalties can be massive in some cases.
An online course: This will require your effort only once. You can structure your class and upload it to a web platform that works best for you and the course you are offering. These platforms will charge a fee for people to take the course, and you will receive a percentage of the proceeds.
Publish an audiobook: If you know a lot about a subject, take advantage of this knowledge, and record an audiobook. You can upload your audiobook to platforms such as Audible or iTunes, or Amazon.
Publish ebooks: The most popular option is to publish a book as an ebook on Amazon. Almost half of the best-selling books there are self-published. If you can produce a lot of useful books, this can be profitable.
Social trading: It is an investment system that allows the user to replicate the largest experts’ movements in the stock market. It theoretically increases the chances of making money, although as in everything, nothing is certain.
Create audio tracks or jingles: If music is your thing, you can spend time creating a good jingle. You can also create an audio track and uploading it to Sound Cloud and Audio Socked or Song Freedom.
Invest in Crowdfunding organizations: There are platforms where people with business ideas seek resources to finance their ventures. If you invest in a good business, you can receive profits, or instead, you can serve as a lender to one of the entrepreneurs. Briq, Financial Borrower, Kickstarter, or Inedogogo are some of Crowdfunding’s platforms.
Each example has something in common: they require a special effort because once you have the service or product to offer, it can be monetized without the need to continue working on it. Experts recommend not to be blinded by promises of easy money. The best way to create a business that provides passive income is to do it without haste.
Outside of these online options, you can also invest in rental properties by purchasing a home and renting it out. You can charge a monthly fee that will be your passive income. If you don’t want to rent out the home for long-term home rentals, you can offer it as a vacation rental by fully furnishing it and using it for short-term rentals to travelers or others who only need a short-term and furnished rental.
You can generate passive income through the website as well. For example, you can make passive money through an affiliate marketing business. With this type of marketing, your customers will buy recommended products that you promoted through affiliated marketing. This type of passive income will take more work at the start but can eventually make you a healthy income once you build it.
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.
Home mortgage financing is not always that easy to handle, especially when it comes to lenders who have strict policies and lengthy approval processes, making it even more challenging to request a loan. The founder and CEO of LoanDepot.com, Anthony Hsieh, says, “Homeowners today need to be triathletes to qualify for a loan, with great income, great credit, and great value in their home.” Before choosing to refinance your home mortgage for a loan, you must ask yourself six critical questions.
Do I Have Equity in My Home?
Ideally, homeowners should have 20% equity in their homes to sign up for a loan request without paying private mortgage insurance. This lack of equity may adversely affect the benefit of refinancing and make homeowners owe more than their house’s actual cost. Home Savings’ vice president says that going for mortgage refinancing without sufficient equity only depreciates a house’s value. Another thing that impacts qualifying for the loan is the borrower’s credit score. To qualify for refinancing your mortgage to get a loan, you need to have a good credit score, much like when you obtained the original loan that created your mortgage.
What are My Financial Goals?
Most of the homeowners opt for refinancing to reduce their monthly installments. A good mortgage calculator may guide you in deciding your installment plans and reduce the interest amounts. The vice president of Home Savings says, “Some people are restructuring their loans to a 20-, 15- or 10-year mortgage, which works well for people with plenty of disposable income. But I worry that people are too focused on paying off their mortgage and not integrating this decision with their overall financial plan.”
What are the Terms of the Current Loan?
When refinancing your home, another important question you need to ask is about your current loan terms and conditions. When it comes to terms and conditions, interest rates and fluctuations are the biggest financial concerns for borrowing homeowners. Borrowers should stick to fixed-rate loans rather than variable rates.
While asking for a refinance for your home, you should be certain about the time you plan to spend in your home. In general, Mortgage professionals inform the borrowers that a refinance may cost them three to six percent more than the home’s actual cost. If the break-even tends to happen at fifteen months while you still plan to stay in that house for the next five or more years, then it is good to go for refinancing. However, if you have to leave in two years, then refinancing is not a good option.
Is My Credit Score High Enough?
A borrower’s credit score is an important factor that plays a vital role in getting a good mortgage rate. Any mortgage borrower needs to have a good credit score because it becomes nearly impossible for you to qualify for refinancing without a high credit score. Ideally, a borrower will have a score of 720 or more. Any credit score less than 620 may cause hassles in getting approved to refinance your mortgage.
Do I Have a Second Mortgage or Line of Credit?
Getting a second loan may cause the borrower extra stress. It comes with additional complexity, and borrowers might lose track of payment schedules. Borrowers have the option of paying off the first loan before entering into the second loan, or they can combine both loans by making them into one large loan. Having only one loan will make it easier to keep your payments in order as having more than one loan at a time can cause confusion.
Conclusion
The bottom line is that you need to know if you not only qualify to refinance your mortgage but if you should. Consider all six of these questions before making this important decision that will affect your financial future.
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 professional financial advisor plays a very important role in many business management decisions and consultation on day-to-day operations. We call a lawyer to clarify legal questions and hire a tax advisor to prepare our tax returns. However, there was no focus on the importance of hiring a professional financial advisor to advise us on business financial issues.
According to many magazines, the leading company in financial advising, hiring an independent finance professional ─ without linking to financial entities─ is an upward trend that can have multiple benefits for the personal economy. Here are some of the main advantages and five reasons you should hire a professional financial advisor.
Objectivity Towards the Information Observed
The financial advisor consultant’s only interest is to look for the best product or plan since it has no other interest than to benefit its client. Being free of a financial institution’s conditions, the advisor can focus solely on the client’s circumstances to offer a plan that suits them best.
We independently analyze multiple investment options existing in the national or international market to make the client a unique investment proposal according to their objectives.
Global Analysis of Economics
The independent professional financial advisor focuses not only on the investment but also on the client’s general financial situation. “We are a kind of ‘financial doctor.’ In the analysis of the financial health of the client, there are multiple analyzes. We study the life of the patient globally, the investor. We are not a buyer of products, nor a broker, nor an investor to use, but an adviser of the life of our client in the economic field that acts with previous knowledge of his family situation, the children, his expectation of future expenses, studies, etc. “, they indicate from the company.
Multi-Year Tax Planning
When the end of the year approaches, we are in a hurry to optimize the income statement that we will have to present in June of next year. Invite the client to be abstract from this slavery of the urgent and plan what is important, providing ideas, strategies, and advice so you can make a tax planning of your savings income, not only for this exercise but in a natural way and consistent, extended to several years.
Acquisition of Low-Cost Financial Products
For an efficient negotiation, each client’s personalized analysis is essential and, above all, establishing a “global negotiation” with the financial entities involved. This negotiation entails studying each item, mediation commissions, expenses for transfers, and custodies. “With this we seek to have more negotiation strength if we join more clients, resulting in a reduction of” bank costs “with an average of more than 50% and thanks to this intermediation, the portfolios obtained an increase in yield of 0.50. % annual. “, explain from the company.
Control of the Expenses of Financial Management
Many times, investment decisions are conditioned by what we read in the news or by friends and acquaintances’ comments. As mentioned in many famous magazines, the reality is that most people do not have a plan about what they want to do with their savings.
“From the EAFI Independent Financial Counseling Company, we guide the client to set their objectives, and we help them to fulfill them. It is about drawing up a long-term plan that is remembered quite frequently.” This plan includes a situation about the current value of our investment assets, the expenses and the possible financial costs of today and tomorrow, their future evolution, and how our heritage will respond to the current and expected level of life, “the experts declare.
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.
It is common in today’s busy workplaces for employees to skip lunches and breaks to keep working. Working without breaks and focusing on a single task non-stop has been shown to affect the employee negatively. Some of the negative results have been exhaustion, loss of focus, lower productivity, and physical issues. Scientific studies have backed up these facts.
It has been found in a study by the University of Illinois that focusing on a single task for a long time decreases the productivity level of a person, hence, decreasing the performance too. If you want to enhance your productivity and efficiency, taking no breaks is not the correct answer. American scientist Ferris Jabr believes, “Maintaining unbroken focus or navigating demanding intellectual territory for several hours does burn enough energy to leave one feeling denied.” Here are eight ways that you can use to optimize your breaks and increase productivity and efficiency.
Take a Social Break
The workplaces where employees have good social bonds are more likely to retain their employees. Employees at such a workplace are motivated to work efficiently and like to work productively. Therefore, it is usually advised to create a workplace where employees can enjoy social bonding in an office environment. This area could be a breakroom or a sitting area away from where production is taking place not to disrupt other employees who are working.
The 90-Minute Rule
A study on sleep patterns observed that taking a break after working for 90 minutes improves a person’s focus and concentration level. It decreases the frustration built up inside a person and enhances the productivity level.
Take Frequent Vacations
Work and tension can eventually lead to mental burnout, which prevents the employee from being motivated at work. It can cause frustration and irritability. To avoid falling into the same monotonous routine, it is best to take a vacation after every ten months. It enhances the productivity of an individual and reduces the risk of depression.
Have a Nap Time
Sufficient sleep has been linked to better learning and memory. It also helps enhance mental alertness and increases creativity and productivity, creating a good impact on a person’s health, similar to physical and mental exercise.
Keep the Blood Flowing
It is not healthy to spend long hours on a chair. Suppose you have a job where you have to spend all your time on a chair and a desk, keep on taking short breaks, to stretch your muscles. Exercise releases serotonin and dopamine in the brain, which helps in improving mood and memory.
Nutrition
A person should pay attention to the kind of food they eat. After all, We are what we eat. When eating out, choose healthier options. Grabbing junk food from the vending machine would feel good to your taste buds, but it will end up making you feel lazy. Instead of unhealthy foods, go for vegetables, fruits, healthy fats, and complex carbs as these are high in nutrients. Make the most out of your food breaks.
Outside Socializing
It is helpful for a person’s mental health to socialize with people around them. It motivates an individual and reduces feelings of stress and anxiety. If you can’t find a person to talk to at your workplace, then try calling your loved ones. You will feel the change yourself. It assists your mental health by improving your mood and reducing stress.
Enjoy Your Own Company
The most important thing is enjoying the work you are doing. If you are doing something which puts stress on you, change it. Don’t pick something that has a bad impact on your mental health.
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.
Effective Ways to Teach Kids About Money Management
Teaching kids about money works best when you combine hands-on practice with real piggy banks, regular allowances, and age-appropriate savings goals that grow with your child from preschool through high school. Research from the University of Cambridge shows that children form their core money habits by age seven, making early financial education critical for building lifelong wealth-building behaviors.
As a mother and CEO of Complete Controller for over 20 years, I’ve watched countless business owners struggle with financial management because they never learned these skills as children. The good news? Parents who start financial lessons early give their kids a measurable advantage—University of Kansas research found that children with savings accounts accumulate $2,000 by young adulthood compared to just $100 for those without early accounts. This article shares the exact strategies I’ve used with my own children and recommended to thousands of client families, including practical allowance systems, mistake-friendly learning environments, and the three-jar method that transforms abstract money concepts into tangible life skills.
What are the most effective ways to teach kids about money management?
Combine experiential learning (allowance, chores, earning) with regular discussions and real-life family involvement
Start as young as preschool, using cash, piggy banks, and the difference between needs and wants
Progress to savings goals, spending plans, and banking basics in elementary years
Introduce credit, investments, and budgeting limits during adolescence
Model the behaviors you want to see—kids learn best when parents share their own financial decisions openly
Teach Kids About Money: Strategies by Age and Stage
Every developmental phase offers unique opportunities to build strong financial habits. The University of Michigan found that children as young as five already show distinct emotional patterns around spending and saving money, proving that tailored approaches work better than one-size-fits-all solutions.
Early childhood (Ages 3–5)
Physical money makes abstract concepts concrete for young minds. Use coins and small bills to teach basic saving and spending principles. Set up three clear jars labeled “spend,” “save,” and “give” to introduce budgeting visually.
Play pretend store together using real money and prices. During shopping trips, explain why you’re choosing the store brand over name brand, or why waiting for a sale makes sense. These conversations plant seeds that grow into smart consumer habits.
Elementary years (Ages 6–12)
This age marks the perfect time to introduce regular allowances. Whether you tie payments to chores or provide a fixed amount, consistency matters more than the system. Guide children to divide their money using the three-jar approach—many families use a 60-30-10 split for spending, saving, and giving.
Set specific savings goals together (new bike, video game, special outing)
Visit a bank branch to open a youth savings account
Track progress with visual charts or goal thermometers
Celebrate milestones along the way, not just end results
Research from BYU involving over 4,000 young adults confirmed that hands-on money management during these years creates significantly more financial confidence than lectures alone.
Adolescence (Ages 13–18)
Teenagers need real responsibility with digital money tools. Transition from cash allowances to budgeting apps, prepaid debit cards, or youth checking accounts. This mirrors adult financial life while maintaining parental oversight.
Introduce investment basics through custodial accounts where teens can buy fractional shares in companies they know and love. Explain compound interest using their own savings account statements. Most importantly, discuss credit scores, interest rates, and how debt works before they face these realities independently.
The 50/30/20 budgeting rule works perfectly for teens with part-time jobs:
50% for needs (gas, school supplies)
30% for wants (entertainment, clothes)
20% for savings and investments
Real-World Progress: A Case Study from Home and Practice
The Bryant family’s three-jar system transformed their children’s relationship with money. Their 7-year-old and 10-year-old split every dollar received—allowance, birthday money, even tooth fairy payments—between spend, save, and give jars using a 60-30-10 formula.
After 12 months, both children met ambitious savings goals: a skateboard and funding for a school camping trip. More importantly, they learned from mistakes. The younger child spent his “spend” jar too quickly one month and couldn’t buy snacks at a movie. Instead of rescuing him, his parents discussed planning ahead. The next month, he budgeted better.
During the holidays, both kids researched charities and chose where to donate their “give” jar contents. This process taught them that money serves purposes beyond personal wants—it can create positive change in their community.
Why First-Hand Experience Matters More Than Lectures
A comprehensive BYU study revealed that while parental modeling and money conversations help, experiential learning drives real financial competence. Young adults who managed their own money as children showed dramatically better long-term outcomes than those who only received instruction.
Allowance: Fixed or chore-based?
Both systems work when implemented consistently. Consider this hybrid approach:
Base allowance covers being a family member (making bed, clearing dishes)
Extra payment available for additional work (washing cars, yard projects)
Clear expectations prevent money from becoming an entitlement
Let kids make (safe) mistakes
Children need low-stakes practice with financial consequences. When your 8-year-old spends their entire allowance on candy and can’t afford the toy they wanted, resist the urge to bail them out. Review the decision together without judgment. These small failures teach budgeting better than any lecture could.
Frame mistakes as investments in future wisdom. Share your own financial missteps from childhood—that time you saved for months then impulsively spent it all. These stories normalize learning through experience while reinforcing that everyone makes money mistakes.
Building Financial Life Skills—From Budgeting to Investing
Financial competence requires progressive skill development across multiple areas. Start with concrete goals and basic budgeting, then layer in more complex concepts as children demonstrate readiness.
Set concrete savings goals and track progress
Visual tracking keeps kids motivated through long savings journeys. Create colorful charts showing progress toward goals. Some families use apps that gamify saving, while others prefer old-school poster boards. The method matters less than consistent tracking and celebration of progress.
Break large goals into smaller milestones. Saving $200 for a gaming console feels overwhelming to a 10-year-old. But saving $20 ten times, with small rewards at $50 and $100, maintains momentum. This approach builds persistence alongside financial skills.
Teach simple budgeting and the 50/30/20 rule
Start budgeting lessons with three basic categories before introducing percentages. Young children grasp “some for now, some for later, some for others” better than abstract ratios. As math skills develop, introduce the 50/30/20 framework that many adults use successfully.
Digital tools help older kids track spending patterns. Many youth banking apps categorize purchases automatically, revealing where money actually goes versus where kids think it goes. These reality checks prompt valuable conversations about priorities and trade-offs.
Introduce investment basics early
Open custodial investment accounts when children show interest in how companies work. Start with businesses they know—Disney, Nintendo, or their favorite clothing brand. Watching share prices fluctuate teaches market dynamics better than textbooks.
Explain compound interest using their actual savings account. Show how $100 grows differently at 0.5% versus 5% over decades. Use online calculators together to demonstrate how starting young creates dramatic advantages through time and compounding.
The Parents’ Role: Model, Guide, and Empower Independence
Children absorb financial attitudes through observation more than instruction. Your daily money decisions teach constantly, whether you realize it or not.
Share age-appropriate financial choices. Explain why you’re comparing prices at the grocery store. Discuss saving for vacation versus buying something today. Let older kids see bills and understand household cash flow without creating anxiety.
Set firm boundaries while fostering independence. Give children real control within limits. A teen managing their clothing budget learns differently than one who simply asks for money each shopping trip. Structure creates safety for experimentation and growth.
Teaching digital money and avoiding debt traps
Modern kids need digital financial literacy alongside traditional money skills. Transfer allowances electronically to teach online banking. Use prepaid cards that can’t overdraft while kids learn electronic spending habits.
Explain how credit cards actually work—they’re loans, not free money. Show a real credit card statement highlighting interest charges. Calculate together how a $100 purchase costs $150 when making minimum payments. These concrete examples stick better than warnings about “debt traps.”
Share how marketing targets young people through social media and peer pressure. Discuss wants versus needs in the context of influencer culture. Building critical thinking about consumption protects against future financial manipulation.
Conclusion: Setting Your Kids Up For Lifelong Financial Confidence
Twenty years of working with business owners at Complete Controller has shown me one constant truth: adults who learned money management as children build more successful enterprises and happier lives. By combining hands-on experience with age-appropriate guidance, you’re giving your children tools that compound into lifelong advantages.
The data backs this up—35 states now require financial education in high schools because policymakers recognize these skills as essential. Your home-based financial education fills gaps and reinforces formal learning. Most importantly, it happens in a safe environment where mistakes become lessons, not disasters.
Start where your child is today. Whether they’re sorting coins in preschool or managing a part-time job in high school, every step builds toward financial independence. Want expert guidance tailored to your family’s unique situation? Connect with the Complete Controller team for strategies that grow with your children.
Frequently Asked Questions About Teaching Kids About Money
At what age should I start teaching my child about money?
Start as early as preschool with simple concepts like identifying coins and understanding wants versus needs. Research shows children form money habits by age seven, making early exposure valuable for building positive financial behaviors.
Should allowance be tied to chores?
Both approaches work—what matters most is consistency. Many families use a hybrid system where base allowance covers family responsibilities while extra money rewards additional work. This teaches both contribution and earning.
How can I teach my kids to save when everything is digital?
Use physical jars or piggy banks for young children, then transition to digital tools as they grow. Many banks offer youth accounts with savings goal features. The key is making progress visible through charts, apps, or regular account reviews.
What’s the best way to teach budgeting to a teenager?
Give them real responsibility for a specific budget category like clothing or entertainment. The 50/30/20 rule (needs/wants/savings) provides a simple framework. Let them manage money monthly rather than asking for funds as needed.
Are there good apps to help kids manage money?
Yes, numerous family-oriented banking and budgeting apps exist for different age groups. Look for features like chore tracking, savings goals, spending controls, and parent oversight. The best app depends on your child’s age and your family’s needs.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Jennifer BrazerFounder/CEO
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.
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.
Most people have heard of life insurance, and many of those have heard the terms whole life and term life insurance. When choosing life insurance, you must know what you need before you speak with an insurance agent. Most agents, while keeping your best interest in mind, will are at their core salespeople. For this reason, you need to understand life insurance and know what you need, so you don’t buy needless insurance that doesn’t work for you.
Here is an overview of both term life and whole life insurance and the comparison of what each of them offers so you can make an educated decision on what you need before you meet with an agent.
Differences Between Whole Life and Term Life
When deciding which type of insurance to purchase, you should base your decision on your financial goals and your needs along with those of your beneficiaries. Life insurance isn’t just something that will cover your loved ones after your death. It also has some financial advantages you can utilize while you are alive. Here are the features of both insurance types.
Features of Term Life Insurance
Only provides death benefits
Only pays if you die while the term of the policy is in effect
Most affordable life insurance to buy
Purchased for a specific period or terms such as 5, 10, 15, or 30 years
Is more expensive as you age
Once your term ends, you must renew a new term
Used as additional coverage with a whole life insurance policy
Can be converted to whole life insurance
Features of Whole Life Insurance
Covers you for life
Provides death benefits
Cash value that builds an accumulation for the lifetime of the policy
Sometimes requires a health examination
Can sometimes be purchased without a health examination
Takes several years to build value
Cash value is based on the rate of the return value
During the life of the policy, it can be borrowed against
Is initially more expensive, but premiums reduce over the years
Reasons to Convert Your Term Life Policy
You are over fifty, and your term life insurance is about to expire
You still need life insurance, but due to age or other circumstances, term life is too expensive
Estate taxes are a concern, or you are hoping to set up your estate and need whole life
You are establishing or changing your will to include a trust
You need a non-taxable investment option
Should Carry Both Whole Life and Term Life Insurance?
In most cases, you will want to choose one insurance over the other, but there is an argument for having both at the same time. This is especially beneficial since term life policies have an endpoint, while whole life insurance covers your lifespan.
The Benefits of Having Both Whole and Term Life Insurance
You need more coverage but can’t afford to add to your whole life policy
You need more coverage only for a period and not whole life
You have term life and can’t afford to convert to whole life completely
Conclusion
You should know about term life and whole life insurance that no matter which one you choose, it is essential that you have life insurance. This insurance, while beneficial to you while you are alive such as with financial benefits you can take before death, but the main reason you take out life insurance is to benefit your loved ones after your death.
Many times life insurance covers funeral and debt expenses and gives your beneficiaries income to cover after death expenses and also takes care of them for life. To choose the right kind of life insurance, you must consider the benefits of both and choose the best one you can afford that will cover what you need.
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.
To start a business with little money is possible, but it is important to consider how to utilize the money in the best possible way. A better understanding and effective utilization of business money are discussed in this article for a normal person.
Starting a business with little cash could be a challenging task, but it is not impossible. Entrepreneurs have great business ideas, but they fail because they do not have enough capital to support their idea. To start a business with little cash works best only if you get paid on an immediate basis.
Having low overhead expenditure, not enough labor expenses, and poor inventory management systems can create terrible situations for the person to handle.
Customer default, fraud, or unexpected expenses can sink the whole business if one does not have any credit account associated with any financial institutions. In some cases, the entrepreneurs use their credit cards to keep things on track. If the same situation happens every time, this will eventually end up in a debt trap.
If individuals plan to start a business with little cash, they need to make a cautious budgeting plan. Here are some things that the business owner needs to consider before starting a business.
As a business owner, think before spending a single dollar and how it will help or facilitate the business’s operations. Whatever the expenses may be, if it is not getting enough customers, do not attempt to avoid it. Moving with a lean state-of-mind will help the person to maintain focus towards the business.
Prepare to face complex situations for at least one year of your business where the owner will be getting either little or no salary. In the business’s initial years, maybe the person will have a workforce with the lowest pay and compensation. So it is important to cut down the personal expenses to almost zero because in starting years of business, the person has to invest more to keep all the things on track. After some time, the business owner will be getting high returns on
Do not think that to run the business; one needs to buy everything. The person can choose the lease option for inventory management. Utilize this saved amount where it is required the most.
Try to become the best friend of the business banker. In this way, many of the banking transactions can be sorted out easily, as this approach will help to save time and effort.
A business owner needs to understand that full-time employees are a huge overhead, particularly when your business is at the initial For starting scenarios, one can use freelancers’ services to save your money.
Make sure to work with only those customers who pay on time and are easy to work with. Whereas, working with the customers who never pay on time becomes difficult to work with them. It is important to keep track of your loyal customers.
Make this point clear in the mind that “cash is the king,” and net profit owns more importance as compared to patronizing revenue goals. If the person does not have a safe and secure line of credit and the company is running out of cash, it would be very difficult to survive. To become a successful entrepreneur, one has to maintain a focus on investments and high-value activities. This will help in expanding your business more.
Another important aspect to consider is the business behavior will serve in its best way in the upcoming life. If one wants to start a business with little cash, the person must consider the points mentioned earlier to utilize the amount effectively. To run a successful business, all that matters is the potential of the idea.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
An elevator pitch or speech is considered a brief but effective overview of the business, service, or product offered. An elevator pitch is mostly utilized in face to face networking. Elevator pitch is supposed to be the simplest, but it should be impactful and compel the listener to take a desirable action.
As the name implies, the elevator pitch should be as concise as possible. It should last as long as a person spends in an elevator.
Characteristics of an effective elevator pitch:
It should be simple and easy to comprehend
It should be short but should serve the accurate purpose of marketing
Target the purpose
There is always an aim or objective for pitching an idea. An elevator pitch can be utilized for marketing a product for selling an idea or branding a product. It should be strategized according to the purpose. If it is being utilized to sell a product, it should solely enhance the positive aspects of the product.
Focus on the Length
The perfect elevator speech does not last more than 30 seconds and must incorporate all the product or service characteristics that are the subject of an elevator pitch. If something makes the person or the product stand out, include it in the speech.
Keep it Casual
During an elevator speech, try not to sound like reciting one of the speeches that give the impression of being crammed and are just read without being understood. It is suggested first to say it and then write it down. Most elevator speeches are too formal and are read as the top of a CV. Avoid memorizing all the speech. Instead, memorize the key points and understand each point completely, leaving space for improvisation and personalization depending on the type of audience. Try practicing to pitch it in front of the mirror or record it and then listen to it.
Apply the Tweet Test
This is the era of communicating within 140 characters. An elevator speech should reflect that. Try to describe the company or product in approximately two sentences. If this is not working, then try to polish the speech. This happens because of the lack of clarity in the speech. The ‘tweet test’ is good for finding the approach – Try writing an elevator pitch on Twitter.
Make it Relevant
In a networkingevent, do not limit on just shaking hands and start with an elevator speech. For making it relevant, it is advised to know a little about the audience. Ask them what they do or what they expect to get from attending that particular event. With a little information about the other person, it can be customized according to the speech’s tone, making it more relevant.
Close with a Question
End the elevator speech with a question. Ask for advice, a contact, something about the other person, or what the situation requires. Finishing the introduction with a question drives the conversation. It is never appropriate to end the elevator speech by asking for a job. As a minimum, ask to exchange contact cards with the person – or contact them through LinkedIn. The point is to make sure that an elevator speech does not feel like an advertisement, but it should build a human relationship with the other person.
What the Experts Say
Network expert Patti DeNucci suggests losing the concept of “speech” altogether.” Speeches do not attract the majority of people,” she says. “Think of this as your self-presentation -. A concise way for people to realize who you are, what you do, where you can serve them, how they can benefit, and any interesting thing that shows how your product or service is unique.”
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.
Risk can be defined differently depending on the investor and what is most important to them. For some investors, the potential loss does not outweigh the possibility of gain by not investing. If the risk of loss is high for other investors, the possible gains will not entice them to invest in a high-risk venture. An investor must use risk tolerance and risk capacity to determine where they fall.
Risk tolerance and risk capacity are two concepts that sound the same but are not. These concepts need to be understood before making investments. Used together, risk tolerance and risk capacity can help an investor determine the amount of risk that can be taken in their investments. Once the risk is identified and the investor sets a target of how much money they want the investment to earn, an investment plan can be constructed. Here are the differences between risk tolerance and risk capacity and their importance for an investor.
Risk Tolerance
Risk tolerance is the amount of risk that an investor is comfortable taking. It is also the degree of uncertainty that an investor can tolerate (thus the name.) Risk tolerance varies depending on many factors, such as age, income, and the financial goals of the business owner. Risk tolerance should be taken seriously when making financial investment decisions. If you don’t have millions to spare, your tolerance may be lower than someone who won’t feel the loss. Many methods can be used to determine an investor’s risk tolerance that will help them make riskier investments with the lowest amount of stress possible. Here are some of those methods.
Self-administered risk tolerance questionnaire
An online risk tolerance calculator
Hiring a professional financial advisor
Videos and other learning tools
Risk Capacity
In contrast to risk tolerance, risk capacity is the amount of risk that the investor needs to take to reach their financial goals. Examining goal time frames and the income required to achieve the financial goals is necessary to determine return estimates. Then, the rate of return estimate is used to help the investor decide the investments in which to invest and the level of risk they will hold. The primary key to determining risk capacity is the income goal.
Balancing the Two
Risk tolerance and risk capacity work together to determine the amount of risk and what type of investments to make. Risk tolerance depends on the investor’s financial plans, job, income, and age. In comparison, risk capacity has more to do with income and financial resources.
The two concepts have to be balanced for the investor to benefit financially from the level of investment they choose. If the amount of income necessary to reach the goals exceeds the investor’s risk tolerance, there will be a shortfall in achieving financial goals. Those with a higher risk tolerance are generally investors who aren’t concerned with losses. Conservative investors have a lower tolerance. Though they are low risk, low reward, they do fairly well with steady returns. Patience is the key for these investments.
Conclusion
Risk is a part of life in many aspects. When it comes to investing, risks range from imperceptible to losing it all. Using risk tolerance and risk capacity will help investors use their income and tolerance to reach their financial goals while managing the risks (and stress) that investing holds. To get the best assessment of both risk tolerance and risk capacity, do your research but also hire a professional financial advisor to assist in your investment decisions. A professional financial advisor will be able to better inform you of your best investment options.
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.
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.
