When you come to the financial point in your adult life where you have decided it’s time to look into investing some of your hard-earned money, there are many types of investments you could consider. There is the stock market, mutual funds, 401(k) or other retirement savings accounts, and countless other investments you could (and should) look into to diversify your investment portfolio.

However, real estate investing is often an area people don’t think they can invest in for many reasons. It could be credit issues, lack of start-up investment capital, or fear of the risks involved in investing. Whatever the reasons you have hesitated to invest in real estate, here are five good reasons you should consider real estate investments.

Property Appreciation

Property appreciation isn’t that you appreciate that you own the property. This use of the word means the increase in the value of a property. Many purchases of property depreciate as soon as you purchase them, such as a car. A car depreciates in value the second you drive it off the lot because it immediately has factors attached to it that decrease the value, such as mileage and previous ownership.

Real estate is not like that. Real estate property values increase (or decrease) according to the real estate market. While it is true that there have been severe downturns in the real estate market over the years, for the most part, if you can ride these downturns out with the property you own while possibly obtaining more properties for spare change on the dollar, you can make out well during those few and far between times.

If you are investing in a property you intend to flip and sell, then a slower or bottom market would not be ideal since you might get the property for a steal but may not be able to resell it. However, buying a property to use for passive rental income, buying low, and investing enough to fix any issues, then renting it out will be ideal. You can then wait for the market to heat back up and resell it (once the lease is up) for a nice profit. Or you may choose to keep it as a rental property collecting that sweet passive income.

Cash Flow Income

Speaking of passive income and rental properties. Cash flow income is, as mentioned before, using your purchased property or even buying already established rental properties for the sole purpose of renting out space(s) for continuous passive income.

The cash flow income can be more resilient if the real estate market takes a hit or crashes. These passive income properties can even sustain you through overall economic downturns or personal financial difficulties.

Real Estate Related Income

You may be thinking we have been talking about real estate related income this whole time, and we have,  but this particular use of the phrase is referring to income generated from a real estate job-related source.

Real estate-related jobs could be a real estate agent or real estate broker, both of which gain their income from real estate sales commissions. Another real estate related job is property management. This job entails running a property such as a building with offices, an apartment complex, or a hotel for an owner who wants to remain hands-off and have someone else manage their investments.

While this may not seem like an investment in real estate, if you do not own the properties yourself, these real estate related jobs are an investment in your career and future financial stability.

Ancillary Real Estate Investment Income

When most people hear real estate investing, they likely conjure up the idea of owning real estate property and either reselling for a profit or using it as a rental property as a passive income. Ancillary real estate investing is ownership of investments that generate income, such as vending machines, paid laundry facilities, ATMs, and other smaller businesses operated within larger real estate investments.

Because these types of machines are in places that make them convenient, they can create a decent income due to the customers’ semi-captive nature. These types of real estate investments could be a great starting point for someone without a lot of capital to invest or without a lot of experience in real estate investing.

Your First Property Investments

If you have the capital for a down payment and the credit score to do it, you may want to consider purchasing your first real estate property through a mortgage loan. You can then use this property a few ways to get returns on your investment. You can make sure the mortgage loan includes money for upgrades and fix it and flip it for a profit, which will pay off the mortgage and give you a profit. Or you can use it as a rental property setting the rent to cover the monthly mortgage and yearly dues and property taxes along with padding for profit.

If you don’t have a lot of starting capital to invest in a property on your own, there are crowdfunded investment groups. Each person in the group will invest a minimum amount, and the group will invest in a property and split the profits made through rentals or resale.

You can also look into the option of ancillary real estate options as they are often fairly inexpensive to invest in and can gain you immediate profits from day one of placement.

Conclusion

Keep in mind that different liabilities depend on what type of real estate investing you get into and weigh these liability risks against the rewards. Overall, real estate investing is a great investment path to take and is, for the most part, far less risky than the stock market. Look into the options mentioned and see if any of them is right 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.

There are several kinds of accounting software available to small businesses. Whether it is overall accounting and bookkeeping software, inventory software, payroll software, or other business-related software that helps with the financial aspects of operations, most small businesses employ the use of one or more of these. Now there is software specifically related to electronic invoicing.

Some accounting software includes an electronic invoicing in the overall business accounting software package, but many do not. This would be the reason you may want to consider getting electronic invoicing software. Here are eight reasons you should be electronically invoicing now!

Save time

Because of the automation, electronic invoicing saves a large amount of time previously spent manually invoicing. Many of the steps are eliminated once the process is automated because they are unnecessary in the electronic invoicing process.

Reducing Costs

When using the manual, paper invoicing, there are several costs involved. Printer ink, paper, envelopes, and postage are all costs involved in manual and paper invoicing. Besides the initial cost of the software, there is no cost involved in electronically invoicing your customers. It also saves money if you have to follow-up with reminders and late notices. Some companies give the customer the option to go paperless, but you will save money by electronically invoicing.

Reducing Errors

Because manual invoicing requires so many steps done manually, it increases the chances of errors in the process. There are many opportunities for errors, whether typos or incorrect data in the invoice or incorrectly addressing the envelope. Electronic invoicing still requires input. However, it will generally prompt error checks, and the rest of the process is automated and via email, so the chance of errors is minimized.

Customer Service

Because of the reduction in time, cost, and errors, there is a direct benefit to your customer. Also, because they will receive their invoices immediately, they can add the cost to their budget. Electronic invoicing is also more professional and can increase the overall positive impression of your business. The ease, accuracy, and speed will also increase customer confidence in your business’s abilities creating long-term customers.

Get Paid Quickly

Because the customer is invoiced immediately instead of the time it takes to mail an invoice, it is far more likely the invoice will be paid quickly. Most customers who fail to pay forget about the payment. With electronic invoicing, they will receive the initial invoice, but reminders are more easily sent because of the simplification of the process.

Reducing Paper Use

With awareness of the environment and recycling being the focus of many, reducing paper use will benefit the environment. The reduction of paper for the invoice and the envelope will positively impact and give your customers who are concerned with the environment another reason to choose your company.

Accurate Record-Keeping

Because the process is generated and recorded through the software, this will ensure accurate records. This accuracy is especially important for taxes and operations. It also allows an overview of outstanding invoices that may require more intense measures to recover. Overall you will have easy to understand records that will help keep accounting and bookkeeping accurate and efficient.

More Control

Manual invoicing also means manual record-keeping and other processes. Having the electronic invoicing process from beginning to recording in the software gives you more control over your invoices and the invoicing process. Most of the invoicing issues are that the manual process can allow the invoices to get away from you. This control and accuracy, ease of access to what has been received, and what is out will give you strong invoicing control.

Conclusion

There are no downsides to electronic invoicing, and no reason it should not be utilized in your business immediately. Electronic invoicing saves time, money, and errors and will give you and your accountant accuracy and more control.

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.

5 Creative Investment Ideas for a Stronger Portfolio

Creative investment ideas for a stronger portfolio blend traditional assets with smarter, less-traveled opportunities—diversified alternatives, impact and ESG themes, arts and entertainment ventures, digital and IP-based income streams, and tax-smart philanthropic structures. Used together, these five ideas help you add resilience, fresh income streams, and long-term growth potential without abandoning the discipline that keeps real wealth intact.

Here’s something that gets me fired up: Bank of America’s 2024 Study of Wealthy Americans found that the average high-net-worth allocation to alternatives jumped to 13%, up from 10% in 2022—and 54% plan to increase it again. That’s not a fad; that’s a quiet revolution in how serious investors build portfolios. Over the past 20+ years running Complete Controller, I’ve had a front-row seat to thousands of business owners and investors figuring out what actually works versus what just sounds clever at cocktail parties. In this article, I’ll share five creative ideas I’ve watched succeed in the real world, plus a 90-day roadmap to put them into action with confidence.

What are the 5 best creative investment ideas for a stronger portfolio and how do you use them?

• Diversified alternatives, impact/ESG themes, arts and entertainment ventures, digital and IP assets, and tax-smart philanthropy are the five creative investment ideas that build a stronger portfolio.
• Alternatives like real assets, private credit, and commodities reduce correlation to public markets and hedge inflation.
• Impact and ESG investing aligns your dollars with macro trends like the energy transition and longevity.
• Arts, entertainment, and creator economy plays offer growth tied to a $250B–$480B market expansion.
• Digital and IP assets—courses, royalties, content libraries—create scalable passive income when treated like real businesses.
• Donor-advised funds and philanthropic structures function as a strategic “fourth pillar” that boosts after-tax wealth and legacy impact.

Understanding Creative Investment Ideas Without Losing Your Financial Footing

Let me be clear about what “creative” means here. Creative does not mean speculative roulette. It means thoughtful diversification into opportunities outside the basic stock-bond-cash trio, guided by data, time horizon, and good bookkeeping. The investors I’ve seen build lasting wealth treat creativity as a discipline, not a dare.

What are creative investment ideas in 2026?

Creative investment ideas in 2026 are strategies that expand beyond traditional holdings to capture macro themes—AI infrastructure, energy transition, the creator economy—while respecting correlation, liquidity, and risk-adjusted return. Think of it as a core-satellite model: your stable core stays boring and diversified, while your creative satellite (often 10–25% of the portfolio) chases smarter upside.

Building a creative investment strategy around your real life

A solid creative investment strategy starts with three honest questions: What are my goals? What’s my time horizon? What can I actually afford to lose? Once you know that, decide what percentage of your portfolio belongs in the creative sleeve and tag every position in your bookkeeping so you can review it quarterly. I had a client who turned a scattered pile of “fun money” bets into a tracked, disciplined satellite portfolio. Same dollars, dramatically better outcomes—because she could finally see what was working.

Creative Investment Idea #1 – Diversified Alternatives That Support Your Core

Alternatives have moved from “exotic” to “essential.” According to Bank of America’s 2024 Study of Wealthy Americans, wealthy investors now allocate 13% on average to alternatives, with more than half planning to increase that further. If the most sophisticated investors are leaning in, that’s a credibility anchor worth paying attention to.

Creative assets investment strategies in real assets and commodities

Real assets—infrastructure, real estate, renewable energy projects—and commodities like gold or broad commodity funds can buffer inflation and smooth volatility. The trick is position sizing. A 5–15% sleeve, sized to your risk tolerance, usually does the job without making your portfolio lopsided.

Best creative investment opportunities in 2026

The biggest themes I’m watching with clients:

1. AI infrastructure and power generation for data centers
2. Grid modernization and energy transition projects
3. Sustainable infrastructure funds and listed REITs

These show up cleanly through thematic ETFs or professionally managed funds—no need to chase private deals to participate. For a primer on portfolio structure, see Investor.gov’s guide on asset allocation and diversification.

Creative Investment Idea #2 – Impact, ESG, and Societal-Shifts Investing

Impact investing has matured. It’s no longer a values-only choice—it’s a way to ride durable macro trends like clean energy, longevity health, and climate adaptation while keeping diversification intact.

Innovation funding through impact and ESG themes

You can fund innovation through green bonds, themed ETFs, and community development funds. The key is screening for genuine ESG versus greenwashing—look at fund holdings, methodology, and reporting. The CFA Institute’s ESG framework is a strong reference point for what good looks like.

How to build a creative investment portfolio with impact at the center

Here’s a simple sequence I walk clients through:

• Define the causes you care about (climate, housing, education)
• Map the vehicles available—ETFs, social-impact bonds, community funds
• Set an allocation rule (e.g., “10% of my creative sleeve targets impact themes”)
• Track returns and impact metrics in your bookkeeping system

One family client paired ESG funds with a donor-advised fund and got something rare: alignment between their values, their tax bill, and their long-term wealth plan.

Creative Investment Idea #3 – Arts, Entertainment, and the Creator Economy

Goldman Sachs estimates the creator economy was about $250 billion in 2023 and could reach $480 billion by 2027. That’s a structural trend, not a TikTok blip.

Arts and entertainment investment as an asset class

You can invest in this space through:

• Direct equity in creative startups and production companies
• Royalties from music, film, or licensing deals
• Pooled funds that spread risk across many creative projects

The risks are real—illiquidity, high failure rates, the need for serious due diligence. Diversify across many bets, not one.

Venture capital for creative industries and creator economy businesses

The creator economy includes paid newsletters, niche learning apps, and AI-enhanced content tools. I’ve watched investors back creator-platform startups that scaled with subscription and transaction revenue, delivering strong multi-year growth. The investors who won shared one habit: they demanded clean, transparent books from the startups they funded—which is exactly where our business bookkeeping essentials come in.

The best investment strategy starts with clear financial visibility. See how Complete Controller helps you organize your finances with confidence.

Creative Investment Idea #4 – Digital Assets, IP, and Scalable Passive Income

This isn’t about crypto speculation. It’s about treating digital and intellectual property like the real businesses they are. A famous example: David Bowie’s “Bowie Bonds,” inducted into the Rock & Roll Hall of Fame in 2015, turned music royalties into a tradeable, income-producing asset—a blueprint that still inspires today’s IP investors.

Creative investment ideas for beginners in digital and online assets

Beginner-friendly entry points include revenue-share deals in online course businesses, small equity in membership sites, or buying a profitable newsletter to improve and grow. Start small, track every dollar, and learn the mechanics. See our guide on earning with online courses for a deeper look.

Investing in startups in the creative sector and online ventures

When evaluating a creative-sector startup, look at:

• Recurring revenue percentage
• Creator or platform dependency risk
• Quality of financial reporting

I had a client running a profitable digital course business who only attracted serious investors after we standardized her bookkeeping. The business hadn’t changed—the visibility had.

Creative Investment Idea #5 – Philanthropy and Tax-Smart Structures

Strategic giving is one of the most underrated wealth tools I know. Donor-advised funds (DAFs) unlock immediate tax deductions, let you donate appreciated securities to avoid capital gains, and give you decades to direct grants. The IRS guide to donor-advised funds is a great starting point.

Bunching donations in high-income years, donating appreciated assets, and coordinating with your tax advisor can turn philanthropy into a serious creative lever that quietly improves your after-tax net worth.

Turning Ideas into Action – Your 90-Day Roadmap

Most idea lists stop at “what.” Here’s the “how”:

1. Days 1–30 – Assessment: Inventory holdings, decide your creative allocation (10–20%), and pick 2–3 themes that fit your goals.
2. Days 31–60 – Due Diligence: Research funds, fees, liquidity, and governance. Set up bookkeeping categories. For help organizing, see our piece on how to streamline your investment portfolio.
3. Days 61–90 – Execution: Invest in small, diversified positions. Set quarterly reviews. Adjust by metrics, not headlines.

Conclusion – How I Approach Creative Investing With My Clients

After two decades helping business owners keep their books honest and their portfolios growing, I’ve learned that creative investment ideas work best when paired with old-fashioned discipline. The five ideas here—alternatives, impact themes, arts and entertainment, digital and IP assets, and philanthropic structures—can each strengthen your portfolio when sized correctly, tracked clearly, and aligned with your goals.

Pick a percentage, pick two or three ideas that fit your real life, and build a system that lets you see everything in one place. When you’re ready for a partner to help structure and track it all, visit Complete Controller and let our team support your next move with confidence.

Frequently Asked Questions About Creative Investment Ideas

What are some unique investment ideas?

Unique investment ideas include alternative assets like infrastructure and commodities, ESG-themed funds, creative industry startups, digital content and royalty streams, and donor-advised funds that improve tax efficiency while supporting causes you care about.

What is the most creative investment?

The most creative investment depends on your goals, but many investors find creator-economy ventures, arts and entertainment, and digital IP (courses, memberships, royalties) the most innovative—especially when they combine scalable income with long-term asset value.

What are some unconventional investment options?

Unconventional options include private credit, renewable energy projects, niche real assets, revenue-sharing deals in online businesses, music or film royalties, and donor-advised funds that integrate tax planning with impact.

How can beginners start with creative investments?

Beginners should start with small allocations to thematic ETFs (AI, energy transition, ESG), simple income streams like online courses, and low-complexity impact funds, while keeping the majority of their portfolio in diversified core investments.

Are creative investment ideas high risk?

Creative investments often carry higher or different risks—illiquidity, business failure, regulatory shifts—but those risks can be managed through position sizing, diversification, professional due diligence, and disciplined bookkeeping and reporting.

Sources

• Bank of America Private Bank. (2024). 2024 Study of Wealthy Americans. https://business.bofa.com/content/dam/flagship/bank-of-america-private-bank/en-us/documents/2024-bofa-study-of-wealthy-americans-report.pdf
• CFA Institute. ESG Investing. https://www.cfainstitute.org/en/advocacy/issues/esg-investing
• Complete Controller. Business Bookkeeping Essentials. https://www.completecontroller.com/business-bookkeeping-essentials/
• Complete Controller. Earning With Online Courses. https://www.completecontroller.com/earning-with-online-courses/
• Complete Controller. How to Streamline Your Investment Portfolio. https://www.completecontroller.com/how-to-streamline-your-investment-portfolio/
• Goldman Sachs Research. (2023). Creator Economy: In the Spotlight. https://www.goldmansachs.com/insights/pages/creator-economy-in-the-spotlight.html
• Investor.gov. Asset Allocation and Diversification. https://www.investor.gov/introduction-investing/investing-basics/asset-allocation-diversification
• IRS. Donor-Advised Funds. https://www.irs.gov/charities-non-profits/charitable-organizations/donor-advised-funds
• Rock & Roll Hall of Fame. Bowie Bonds. https://www.rockhall.com/inductees/bowie-bonds
• PIMCO. (2026). Five Investment Ideas for Staying Ahead in 2026. https://www.pimco.com
• Morgan Stanley. (2026). Four Key Investment Themes for 2026. https://www.morganstanley.com
• Mercer. (2026). Investment Themes and Opportunities 2026. https://www.mercer.com
• Forbes. (2025). Top 10 Investment Themes for 2026. https://www.forbes.com
• Investopedia. (2026). 25 Best Passive Income Ideas to Make Money in 2026. https://www.investopedia.com
• U.S. Chamber of Commerce. (2026). 50 Business Ideas for 2026 and Beyond. https://www.uschamber.com

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

Brittany McMillen

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

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Every financially responsible adult should have multiple savings accounts, the most important of which should be an emergency fund. This fund is used to cover emergencies that are unforeseen and not built into your budget. It should cover catastrophes such as a costly car or home repair not covered by warranties or an unexpected healthcare expense.

The emergency fund savings is not to be confused with saving for your future or a family vacation, down payment on a new car or home, or a wedding. It is an account protected to cover you and prevent those unforeseen disasters from causing you financial hardship or devastation. Here are three important things to consider when saving for an emergency fund.

Use a Financial Advisor

While hiring a professional financial advisor is expensive, it is a financially smart thing to do, especially if you are not good with your finances. Many smart and savvy adults who are good at their jobs and have talents in other areas are not good with money. Commonly, most working adults carry a little to a far greater amount of debt brought about by the mishandling of their money.

The cost of hiring a financial advisor will easily be defrayed by the amount of savings having a professional help you straighten out your finances will gain you. These financial experts know how to help you identify where you can make changes and create savings accounts for your future and for emergencies.

Most people hesitate to use a financial advisor because of the cost, but because they are embarrassed by their financial situation and laying it open in front of a virtual stranger can be challenging. If you can put these concerns aside and understand these professionals have seen it all and know how to get you on the right financial path, you will not regret your decision. Not only will they help you get a much-needed emergency fund in place quickly, but they can help you with every aspect of your finances, leading you to financial freedom.

The Amount of Your Emergency Fund

Most people ask when contemplating an emergency fund is how much should the fund contain? If you are a novice at saving, the answer is that you should start small and save an amount of $1,000 as quickly as possible. These savings will easily cover small issues such as a car or home repairs or other similar issues.

Once you have the $1,000 emergency nest egg, it is time to build that savings to cover bigger issues such as job loss or medical issues that could cause longer-term income loss. Most experts will recommend this amount be equal to at least six months of your income. Doing this will ensure you are covered if there are hindrances to employment for a prolonged period.

Once you have six months of your income saved, it is suggested that you continue to build towards a year. Keep in mind these savings is never to be touched for anything other than an emergency or financial hardships. You should still have other savings to include those for specific large purchases or vacations and those specifically towards your retirement funds. But before you contribute to any of those other savings accounts, you should use all your savings efforts to build your emergency fund.

Where to Keep Your Emergency Fund

There are several places you could keep your emergency fund, but some definite rules you want to follow to make sure your emergency funds are kept in the right place(s).

Before deciding where to keep the funds that work best for you, there is one rule to follow, no matter where you choose to keep this fund. Ensure it is accessible without penalties or days of red tape to obtain. After all, it has emergency right in the name, implying you will need it right away. However, don’t make it so accessible that you will be tempted to use it for non-emergency purchases. Restrain yourself from “borrowing” from this fund for non-emergency desires of your heart.

One of the safest places to keep your emergency funds while also fitting the previously describe rule of thumb is in an online bank. Banks that are completely housed and operated online make electronic transactions easy while also being an account not attached to your traditional bank account, making accessing it more tempting.

Another great account that will not be attached to your traditional bank account is a money market account. This type of account is not only a standalone account, but it can gain your interest while your money is sitting in reserve, waiting for an emergency. Savings accounts that gain interest are never bad, especially when you are trying to build this emergency account to equal a year’s income.

Conclusion

Keeping these three important aspects of an emergency fund in mind when considering building this savings account will ensure you have coverage in your times of financial need. Having this fund will not only provide you with peace of mind when an emergency arises, but it will provide you with it knowing it’s there if you should ever need 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.

Time management is probably one of the things every employee who works from home would agree they have issues with when it comes to accomplishing daily workloads. Even in an office environment, time management is a difficulty for many employees. While in some cases, the issue is that people bite off more than they can chew and commit to more than can be done in the time allotted. In many cases, the issue is poor time management. Here are seven things you can do to improve time management and meet your goals and the goals of your superiors.

Plan Ahead

Planning is the best way to lay out what you need to do and what you need to accomplish the task or tasks at hand. If you have everything you need in place and do some planning and preparations, it will save time when you get into the work. You can use a calendar, planner, or make lists somewhere you will often see to help you keep on schedule and task. If you’re smart, you can even build in padding to accommodate the inevitable wrenches that get thrown in. If you plan for unforeseen issues, you will still accomplish what you need to for the day.

Group Related Tasks

Grouping together related tasks will make your workflow make sense. For example, if you need to read over documents and print other documents, you should group these tasks because you will already be in your documents folder. The grouping of related tasks should take place in the planning of your day. If you have new tasks assigned during the day, unless you are told it has to be done right away, you can add the task to another task or group where it makes sense.

Prioritize

Prioritizing should be in the planning stage also. However, once you start working or begin your day, the priorities may shift. So though you can pre-plan your priorities, you have to be flexible to change the plan if something needs your attention sooner. You need to make your priorities clear to your co-workers and superior, so they know not even to approach you if what they need from you is not as important as you already prioritized behind what you have planned.

Unless you have something pressing, you should always prioritize the tasks you dislike or that are difficult or the most time consuming first. Getting those out of the way will lessen the chances that you will procrastinate them or have to work past the end of the day to finish them.

Make a Mental Narrative

This might sound a little crazy since it is about to be suggested that you talk to yourself, but if you layout your day and priorities out loud in the form of a story, you can make adjustments when something is not working. This type of mental preparation is like brainstorming with yourself and works well. It is similar to the difference between reading something in your head and reading it out loud. You will notice that you comprehend information quicker when you read it out loud.

Keep the Drive Going

Even if you lose your juice in the middle of a task, unless it is one that will take several hours or days, keep pushing yourself through because when you stop, it is often hard to restart. This can be especially true for tasks you don’ like or that are far more challenging. That being said, if you need a break and not having one is hindering your progress mentally or physically, take a break, but make it quick.

Use a Timer

If one of your issues is accomplishing tasks promptly, use a timer. If you know how long it takes or should take to finish a task, set your timer for that time. The ticking clock will push you to keep going, and also, if you are consistently blowing past the buzzer to finish tasks, you may need to reassess the tasks or time it takes. Using a timer is meant to be a tool to help you stay on task, so don’t let it add stress. It is just a guideline.

Single-Tasking

While you may think that time management gurus will suggest multi-task, nothing could be further from the truth. Most experts believe that multi-tasking, in reality, is not a possibility in many cases. It is possible to multi-task things like brushing your teeth and blowdrying your hair, but you can’t take a shower and blowdry your hair. You also can’t do something like read the newspaper and talk on the phone, one of those two tasks or both will suffer. Now time management experts suggest you give everything you have and focus on a single task until it is completed. It has been discovered the quality and speed of the work were far superior to that of the employee that was multi-tasking.

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

A small business start-up will rarely have all the capital needed to establish, operate, and sustain the business through the difficult first year of business. Most small business entrepreneurs will be seeking capital.

While recent years have seen some other sources for raising capital such as crowdfunding, peer-to-peer financing, and instant online loans, commercial bank lending is still the most sought after option for small business start-ups or those small businesses who need capital to grow. And lending by the government-backed Small Business Administration is at record levels.

While it is suggested that a small business owner uses every available resource to raise the capital needed to start or grow their business, they should also know what top commercial bank lenders expect to see when considering a loan to a new or growing business. Here are the five essential steps every small business owner should follow to secure a small business loan.

You Must Become Credit Worthy

Before you even step foot into a commercial banking institution seeking a loan to start a small business, you need to take care of any negative or inaccurate credit score issues on your credit report. You also need to resolve any tax issues or previous business issues that could harm you as a lending risk. Anything such as tax or loan liens, garnishments, negative bank balances, or owing back taxes can all be risk red flags for a potential lender, so you must have all of these issues resolved, or seeking a loan will be a waste of everyone’s time.

There are many ways to repair negative financial issues you have gotten yourself into, and you need to use them before you look to secure a loan for your small business.

You Must Create a Strong Business Plan

The top commercial banking lenders say that a well-written and realistic business plan is essential to a positive answer to your loan request. Your business plan is an insight into your realistic understanding of how your business will be operated. Still, it shows you have thought out what you are getting yourself into and how to handle all the aspects required to run a successful business.

Your business plan should include financial projections, marketing strategies, business management, and operations. The business plan allows the lender to see you have a plan for repayment through these researched and well thought out aspects of the plan. The business plan gives the lender confidence that you can repay the loan. Without this confidence, no lender will give you a business loan.

You Must Plan for Every Case Scenario

In the financial projections, lenders expect to see a breakdown of at least twelve months broken down by month, including the best, mid, and worst-case scenarios. The potential lender needs to see that you will financially survive and make loan payments even if your business has a month that sees a drop of 10, 20, or even 30%.  Showing this amount of monthly detail will let a lender know that you have a plan to survive the inevitable downturns businesses experience.

You should do this as a monthly breakdown because knowing the good and bad time of year for your business shows you understand your business and its finances. Some businesses will boom in the summer and die in the winter, and others are strong during the holidays and potentially make their year in a two or three-month period. Having this deep knowledge of your business and its financial projections month to month will give a lender great confidence and get you a positive result.

You Must Have Business History or the Equivalent Cash Equity 

If you are obtaining a loan to help your business grow, you will have some business history. Many lenders will require two-years of business history in these cases. However, if you are a new business, a lender may require the owner to have cash equity to inject into the business. The lender may require other capital supplements to reduce the loan amount, reducing the risk of repayment.

You Must be a Hands-on Owner

A lender is more likely to grant a loan to an owner who has proactive plans to collect accounts receivables and ensure that revenue is not tied up in bad debt expenses. You should also show that all your cash liquidity isn’t going to be tied up in inventory but readily available to use for unforeseen business needs or to cover payments.

You should also show that you have a strong and direct marketing plan that will be carried through even when business is slow. Lenders understand that marketing is key to the success of a business. It has its own prominent section in every good business plan showing that it is an essential part of any business to generate customers and revenue.

Conclusion

Lenders are not ready to say no to every business that walks in the door seeking a small business loan. Because the banking institution will gain revenue from the interest paid on your loan, they want to say yes. It is up to you as a small business entrepreneur to ensure you follow all these steps to ensure you are the business that gets that yes, they want to give a worthy 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.

When starting or growing your small business, even if you have some capital saved to put into the business, chances are you won’t have enough to cover all of the costs. If you have no means to provide the money to operate or grow, you will have to look at other financing means.

Before you pursue financing, you must make sure you have a comprehensive and well-written business plan. Most think you only need a business plan for a startup business; however, you should be updating your business plan every year to project growth and use data from the previous year to make those projections. Here are what should be included in your business plan:

• Executive Summary: The executive summary introduces your company to the reader and includes your mission statement and what your business is about.
• Company Description: The company description is a deeper dive into what the company will do, its goals, and the expected customer type.
• Market Analysis: The market analysis is a detailed analysis of the market to which your business belongs.
• Competitive Analysis: The competitive analysis is the comparison to your indirect and direct competitors.
• Management and Organization: Management and organization is the structure of your management team and the entire organization.
• Products and Services: This will be a thorough description and breakdown of the products or services your company will offer.
• Marketing Plan: Your marketing plan will be how you intend to market the business and the costs.
• Sales Strategy: The sales strategy will include how you plan to offer your product and how the sales team will go forward. It will also include projected sales targets.
• Financial Projections: The financial projections should cover at least six months, if not a year or month by month, financial breakdowns, and analysis.

Now that you have a solid business plan, here are four types of financing you can obtain for your small business.

Take it to the Bank

The most obvious means of financing your small business is to go to a banking institution and obtain a loan. The bank will expect to see a business plan, business credit scores, personal credit scores, financial statements, or any other documents that will help them decide to give you a loan. The bank is looking for the amount of risk there will be if they grant you a loan.

Friends or Family

If you have friends or family that believe in your business, they will often help you finance your business with no strings attached. While they will still expect to be paid back, they often want no stake in the business and help you succeed. Be careful when borrowing from friends and family because if you have difficulty paying them back, it can cause a rift, but often this is a great way to borrow for your business because it will most likely be interest-free.

Outside Investors

You can look for outside investors who have expressed a desire to invest in small business startups or growing. These investors will become stakeholders and expect a return on their investment and often limit when they expect to see some return on their investment. In some cases, investors will expect a seat at the table when it comes to business decisions.

This involvement can be a blessing or a curse depending on the investor. Some have a vast amount of business experience, and their involvement and ideas could help your business grow and thrive. Others can be a challenge to deal with, so choose your investors carefully. Base your choice of investors on reputation and research them thoroughly if they have an investment track record.

Crowdsourcing

Crowdsourcing is a fairly new financing source for businesses or projects. While you will still have to give the investors a return on their investment, you can, in many cases, gain quick and total financing for your business if it is a great idea with a solid business plan. If you are great at selling your ideas and getting others excited, crowdsourcing would be the perfect financing pursuit for you and your business.

Conclusion

Financing is a part of any small business, whether it is a startup or a business operating for some time that is growing. If you have a great business plan and have made sure you are personally financially strong, you should have no problem obtaining financing via one of these four sources.

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.

Do you know that over 60% of Americans find it challenging to manage money effectively due to the high cost of living and the temptation to spend impulsively? However, with the right money management tips and advice, you can take control of your finances. Learning how to manage your money better and applying practical money management skills can set you on the path to a stable financial future, embodying the essence of what is money management.

Key Takeaways

• Creating a budget and diligently tracking your income and expenses is crucial for effective money management. Embracing these money management tips and incorporating personal financial management strategies into your routine can significantly enhance your financial planning.

• Understanding the psychology of spending can help you make better financial decisions.

• Identifying and eliminating financial leakages in your daily life can significantly impact your financial stability.

• Adopting a realistic budgeting strategy ensures that you can meet your financial goals without feeling restricted.

• Streamlining your finances through direct deposit, account alerts, and automated bill payments can help you stay organized and consistent.

Understanding Your Cash Flow: The Foundation of Personal Money Management

Understanding your cash flow is vital for your finances. It’s all about the money coming in and going out of your account regularly. Grasping this concept is a cornerstone of money management tips, showing why maintaining a positive cash flow is key to managing your money wisely.

Mapping Your Income and Expenses

Tracking your earnings and expenditures is crucial for grasping the fundamentals of your finances. This insight allows you to assess the available funds for your needs or savings. By scrutinizing your spending patterns, you can identify areas for improvement and enhance your money management practices.

Setting a budget is a strategic way to organize your earnings and expenditures, allocating funds for essentials like housing, travel, food, and leisure. Effective budgeting is a fundamental aspect of money management, ensuring you use your resources wisely and adjust your budget to reflect changes in your financial situation.

Psychological Aspects of Spending

Understanding the motives behind our spending is crucial for managing your cash flow wisely. Recognizing how emotions and impulsive decisions influence our spending can significantly contribute to maintaining healthy finances, highlighting the importance of being mindful of our spending habits.

Sometimes, shopping serves as a coping mechanism for stress. Identifying less costly coping strategies, such as exercising, engaging in hobbies, or spending time with friends, can positively impact your financial well-being.

Identifying Financial Leakages in Your Daily Life

Small, unnoticeable expenses can slowly drain your finances over time. These spendings, called financial leakages, can be from daily purchases you don’t keep track of. By monitoring your expenses closely, you can prevent these financial leaks and make more effective use of your money.

Financial leakages, such as unused subscriptions, impulsive purchases, frequent dining out, or luxury expenses, can drain your resources. Cutting down on these expenses can lead to significant savings. Redirecting this saved money towards your savings or emergency funds is a smart financial move.

Next, we’ll look at how a realistic budget can be a game-changer in managing your finances.

Adopting a Realistic Budgeting Strategy

Learning to manage your money well starts with a realistic budget. A budget is a plan for your money. It shows what you earn and spend to help you make smart choices and meet your financial goals. We’ll explore various money management tips and how to set a money management plan that aligns with your goals.

First, figure out how much you make and spend. Track your income, like your job pay, freelance gigs, or money from investments. Then, list your costs as fixed (like rent or car payment) or variable (like food or fun). This shows your money flow and spots where you could spend less or be smarter with your money, a fundamental money management tip.

Next comes setting up your budget plan. One good way is the envelope system. You put cash in envelopes marked with spending categories. This makes it clear how much you have for each and stops overspending.

Another good plan is the 50/30/20 rule. It says to use half your money on needs (like housing or bills), 30% on wants (like eating out or hobbies), and save 20%, all to keep a good balance.

Make a budget that fits your real life and goals. Don’t make it too hard to follow. Think about what you really need and desire to make your budget work for you, incorporating money management tips to ensure it’s effective.

Keep in mind that budgeting is a journey, not a one-time thing. You’ll need to check and adjust your budget as life changes. Do this to see how you’re doing, find ways to do better, and make any needed changes, a crucial money management tip.

With a good budget, you steer your own financial ship. It guides your decisions, steering towards your goals and a safe financial future, embodying the essence of money management.

Money Management Tips for Streamlining Your Finances

“A budget is telling your money where to go instead of wondering where it went.” – Dave Ramsey

In today’s world, simplifying how we handle money is key. It lets us save time, cut stress, and make our money work better. I’ll share some easy-to-follow money management tips that could revolutionize your finances.

Setting up direct deposit and account alerts

• Direct deposit: Direct deposit puts your paycheck right into your bank. It eliminates the need to handle physical checks and ensures your money is there when you need it. This step is great for smooth cash flow.
• Account alerts: Mobile banking alerts are handy, too. You can receive notices about your balance, withdrawals, or any strange activity. They help you keep an eye on things and catch any problems early.

Automating bill payments for consistency

Setting up automatic bill payments is a big help. It ensures your bills are paid on time every month, so you won’t have to worry about late fees or forgetting.

This also frees up your mind and time. You won’t need to remember when bills are due or log in to pay them. Plus, it keeps your finances running smoothly without the worry of missed payments.

Trying these tips can really improve your finances. Direct deposit and alerts help keep your cash flow steady and watch for any issues. Automating bills adds convenience and peace of mind by making sure they’re paid on time. Taking control of your money this way, through effective money management, leads to a less stressful and more effective financial journey.

Importance of having an emergency fund

In today’s world, it’s smart to have an emergency fund. Building an emergency fund is like creating a cash cushion. It guards you against the unexpected and keeps life stable. It brings peace of mind and secures your financial future, making it a crucial part of saving for an emergency fund.

An emergency fund is money set aside for unexpected expenses, such as sudden illness, car problems, or job loss. It acts as a financial safety net, standing between you and financial stress.

Starting an emergency fund early is key. It does more than cover bills:

• Financial security: Having an emergency fund shields you from sudden costs without resorting to debt. This means less worry and more calm, ensuring financial stability during unexpected events.
• Protection from debt: An emergency fund keeps you away from expensive loans and credit card debt. Breaking the debt cycle is key to financial health, highlighting the importance of an emergency savings fund.
• Flexibility and independence: It offers freedom to take up new jobs or start a business without fear. An emergency fund is your ticket to independence.

Ready to start your fund? Here’s how:

• Evaluate your current financial situation: Check your money in and out. See what you can save each month.

• Set a savings goal: Aim for three to six months of living costs. This is a solid emergency nest egg.

• Create a budget: Find ways to spend less and save more toward your fund. A budget guides your saving discipline.

• Automate your savings: Making savings automatic helps a lot. Set up transfers from your checking into your fund.

Don’t forget about your emergency fund after setting it up. Check it regularly. Refresh what you use. This fund ensures your financial peace in the long run.

Debt management strategies

We’ll discuss ways to manage debt and achieve financial freedom. These strategies can help you lower your debt and aim to be debt-free.

Consolidating debt payments is a key method. This means combining all your debts into one payment with a lower interest rate. It makes paying off loans simpler.

Next, it’s crucial to prioritize. Prioritize your debts. Focus on debts with the highest interest rates or penalties first. This helps you save money and improve your finances.

Then, strong negotiation. Negotiation skills become important. If you’re having trouble with payments, talk to your lenders. They might change your payment plan or lower your interest. They care about getting their money back, so they might be flexible.

With these methods, you can take charge of your financial life. Work on combining debts, focusing on high-priority debts, and talking to your creditors. Persistence and good money habits are key to being debt-free.

Credit score management

Keeping track of your credit score is vital for a healthy financial life. It’s key in setting the interest rates you get on loans and credit cards. Plus, it affects your chances of getting a home, job, and other financial opportunities.

Understanding how your credit score is calculated is the first step to improving it. Begin by getting a copy of your credit report from Experian, Equifax, and TransUnion. Then, check the report for errors that might hurt your score.

Regular financial reviews

Checking your finances regularly is crucial for effective money management and for managing your credit score. You should look at your income, what you spend, and your debts. This can help you see where you can do better and then act on it.

Make a budget to keep track of what you earn and what you spend. This keeps your financial duties in line and helps you find ways to save and lower your debts. Also, looking over your bank and card statements often helps catch any mistakes or surprise charges, a key aspect of money management.

It’s also smart to keep an eye on your credit report for any warning signs of fraud. Dealing with any issues fast helps keep your credit score and money life safe.

Working on your finances regularly shows you care about your financial health. It also prepares you to take chances and deal with problems to reach financial success, embodying the essence of money management.

Conclusion

Being wise with money is key to lasting financial comfort. By using the advice in this guide, you can shape a secure financial future. It’s about taking charge and laying down the right financial principles, following essential money management tips.

Saving is crucial for good money handling. Start with a clear budget and automate your bills. This way, your financial health stays steady, and you cut out unnecessary costs. An emergency fund is a must for those surprise moments. It offers financial peace of mind when the unexpected hits, aligning with smart money management tips.

Remember wealth growth and smart investments. Get advice from pros and keep up with wise investing tips. This knowledge will help you build your wealth. Remember, it’s a journey that needs both time and effort. Stay on top of your finances through regular checks and an adaptive investment strategy. Adjust where needed to keep moving forward.

FAQ

What are some money management tips for beginners?

Beginners should start by setting up a budget. You should also keep track of what you earn and spend. And don’t forget to list your money goals in order of importance, a fundamental money management tip.

How can I effectively manage my cash flow?

Start by recording your money in and out. Incorporate money management tips to make a plan for how you will spend your money. Then, always look at and adjust your budget regularly to stay on track.

What are some strategies for identifying and eliminating financial leakages?

Easily find where your money goes by looking at your expenses closely. Think about what you buy often and apply money management tips to find cheaper alternatives or cut out things you don’t really need, effectively helping you cut expenses.

How do I create a realistic budget?

To make a budget that really works, first, see what you spend every month. Then, figure out how much you make. After that, decide on your most important money wishes. Use your budget and money management tips to make sure these wishes are met.

What are the benefits of setting up direct deposit and account alerts?

Direct deposit means money is always coming in. Account alerts keep you updated on your money moves and help you avoid surprise bills or fees, ensuring a smoother financial journey.

How can automating bill payments help streamline my finances?

Automating your bill payments stops you from forgetting, which prevents late fees. It also helps you keep your spending smooth and steady, contributing to better financial health.

Why is having an emergency fund important?

An emergency fund acts as a cushion. It’s there for those times when extra costs pop up, supporting your financial health over the long haul and serving as a critical component of a solid emergency fund strategy.

What are some debt management strategies I can use?

If you’re dealing with debts, try focusing on the most important ones first. You can also talk to your creditors about making it easier to pay off debt. Putting together a solid plan to tackle your loans and debts is key to financial freedom.

How can I manage my credit score effectively?

Keep your credit score high by paying your bills when they’re due and managing your loans wisely. Try not to owe too much on credit cards and avoid checking your credit score too often without a good reason.

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.

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.