Category: Content

Why take out a life insurance policy?

A life insurance policy can meet different objectives, which explains why it is the preferred investment of savers.

1. Make your savings grow

Life insurance contracts offer a range of vehicles to invest your savings according to your risk profile. Those who refuse any capital loss will be able to move to the dollar fund, while those who favor yield will add units of account.

Two types of contracts coexist: single life insurance, also known as dollar life insurance and multi-asset life insurance with unit-linked funds.

• Monosupport life insurance makes it possible to invest your savings without risk. The contract works like a savings account. The capital is guaranteed and produces interest.
• Multisupport life insurance includes, in addition to a risk-free dollar fund, funds to invest in various asset classes (stocks, bonds, real estate, etc.) more or less risky.

It is all the more interesting to place your savings on a life insurance contract that can be withdrawn at any time if necessary, with a limited tax impact even before 8 years. If you do not wish to draw in your life insurance policy (for tax reasons, for example), you can benefit from an advance. The insurer of the contract grants you a loan at a rate slightly higher than that of the fund in dollars, which avoids any withdrawal.

2. Prepare for retirement

The availability at any time of the funds invested in a life insurance contract may lead to prefer this support to prepare for retirement. The PERP or PERCO type of dedicated products require the funds invested to be locked in until retirement.

Upon retirement, the insured may also choose to receive a retirement supplement in the form of a life annuity. In this case, the earnings will be exempt from income tax (they will bear the only social security contributions). The pension paid will be taxable on a fraction of its amount depending on the age of the beneficiary.

3. Pass on a heritage

Life insurance makes it possible to grow capital and / or prepare for retirement. It is also a formidable transmission tool, since it escapes the applicable civil and tax rules in matters of succession. Life insurance does not fall within the estate of the insured, who can thus pass on wealth to a distant relative or a third party by evading inheritance tax.

4. Favorable taxation

While life insurance has long benefited from a lighter taxation compared to the securities account, even the PEA, the introduction of Flat Tax has significantly reduced this advantage.

However, life insurance has the advantage of being able to arbitrate (sell funds to buy others) by being exempted from tax and social security. These withdrawals will be paid only in case of withdrawal or closure of the contract. In the case of a securities account, however, each capital gain is accompanied by the payment of the corresponding taxes.

If all life insurance contracts make it possible to grow your savings, prepare for retirement, or pass on wealth, why favor one over the other? What are the criteria for choosing a life insurance policy?

 

 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services 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 US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.

We often receive messages from restaurant owners who are desperate. If they do not find a solution soon, they will have to close. They tell us how every month, the red numbers do not stop showing up.

And it is that for more hours that they dedicate to the business, for more money that they invest and for more promotions that they try to put in March, the thing does not improve.

 

Different problems, the same solution

Cost control is nothing more than a series of techniques that help you avoid leakage and loss of money in your restaurant.

And the raw materials and products that you use to create your letter, is an area that must be watched carefully. Mainly for three reasons:

• To know what is the cost of making each of your dishes
• To be able to calculate the sale price and evaluate what is the profitability of the dishes that you will offer

And so you can make smart decisions when buying or creating your menu.

In the following case study you can see how a restaurant should apply cost control correctly so as not to lose money. Let’s analyze in what the approach has failed.

 

1. They have not calculated the cost of making the dishes.

Imagine that the cost of the sirloin dish for the restaurant is $5 and that the El Mirador menu will cost $16.

If we take into account that at most, the cost of the dishes in relation to the price of the menu, should be between 30 and 35% to be profitable, only with this dish and we would be exceeding it. And we would still need, at least, to add the first course and the dessert.

In these cases it is essential to have the scandal, a tool that helps determine the total cost of the plate, including the raw material we use in the preparation of it.

 

2. More options, higher costs.

Although it is necessary that you have some alternatives in your menu, the excess of dishes will be a headache for your client and your team.

To need many products translates into more purchases, more control of stock and more labor to create the elaborations. What supposes extra work in kitchen and greater lack of control.

In addition, so much variety of dishes and products will cause more waste and without proper planning, you run the risk that prepared dishes are left unsold. All the above will mean the same thing to you: money that goes to waste.

 

3. Lack of control in the portions.

The amount of food your dishes have is directly related to the cost. If you control the first, you control the second.

As the menu consists of several dishes, it is unthinkable that the same portions are maintained as when these dishes are sold separately on the menu.

No customer wants to waste food and receive impossible amounts to eat. And of course, it is not logical or profitable for you to offer for $3, what you are offering on the menu for $9.

 

4. Profitability

When setting the menu price, profitability should never be set aside. Design a menu cheaper than your competition, can attract customers, but without profit the strategy will not work.

It is important to establish the price we want to offer for a menu, but first analyze the cost of each dish and assess its viability. And if we exceed the profit margin, it is best to look for another alternative.

Do not forget that the price is important, but so is the quality. If being too cheap makes your menu does not follow the quality standards of the restaurant, your customers will notice.

As you have seen in this case study, something that might seem as simple for a restaurant as creating a menu, if not done following proper cost control, can lead to loss of money.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services 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 US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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 aid after the unemployment subsidy can be requested in the event that a worker is left without employment. We will explain what these help and subsidies for the unemployed consist of, as well as other options that exist if work is not found and these benefits have already been enjoyed. Reality leads us to have to look for useful information about the possibility of obtaining financial aid in order to have some income until we rejoin the labor market.

 

Unemployment benefit

When a person is unemployed due to dismissal or termination of the employment contract, they should know that they have the right to request unemployment. You must go to the Employment Office to find out the months you have quoted so far and thus process the application for the tax benefit or unemployment benefit.

It is necessary to know that there is both the tax benefit and the unemployment benefit that depend on the effective contribution for days worked. That is, the unemployed person must go to the Employment Office in order to request work life because currently there are two types of aid:

 

Tax benefit or “unemployment”

You can make the request for unemployment if you have a minimum of 360 days quoted from the cessation of work activity.

 

Unemployment benefit

It is an unemployment aid for situations in which the tax benefit has been exhausted or when the person has failed to contribute the necessary 360 days. Several types of subsidy differ according to personal and family situation:

• Familiar help
• Subsidy for over 45 years
• Benefit for insufficient contribution
• Help for people over 55

 

Aid when the unemployment benefit is exhausted

In most cases, unemployed people take a long time to find a new job so they become long-term unemployed. As it is quite common for unemployment benefits to end, the SEPE has planned to extend a series of aid for those who do not receive any type of income.

The so-called extraordinary aids are aimed at people who have exhausted the unemployment benefit and have a family burden. Recently, a state agreement was approved to extend this aid for long-term unemployed.

 

Types of extraordinary aid in force

There are currently 3 types of aid after the unemployment benefit:

• The Plan Prepare
• Active Insertion Income (RAI)
• The Extraordinary Employment Activation Program (PAE)

 

In case of exhausting the unemployment benefit, better known as “unemployment”, there are still options to not be suddenly in a situation of economic uncertainty. And well, given how important these types of resources are being for many citizens, I have considered it appropriate to see the matter in some more depth. Let’s take a look at the unemployment benefit, one of the subsistence keys for many families.

You have several options for unemployment benefits depending on your case, I’ll show you what the options that you can access are:

 

Family allowance

This unemployment benefit specifically covers those people who, having finished the unemployment benefit, are unemployed and have family charges . In addition to the general requirements shown in the next chapter, those interested in accessing this route must have children under 26 and / or economically dependent partners.

 

Unemployment benefit for people over 45

Are you over 45 and under 55 and you find that you have lost your job and are not entitled to unemployment benefits? It is not a very comfortable situation, but stay calm, because there are options; and one of them is the unemployment benefit for people over 45 years old. The requirements do not differ from the general ones with the exception of age.

 

 

Subsidy for over 55 years

If you have reached the age of 55 and you are unemployed and with an income below 75% of the SMI this is your option, because in addition to guaranteeing you a monthly help, the SEPE will contribute for you to the Social Security so that you can retire when the time comes Of course, you will have to be at least six years old. Is it your case?

 

Grant for Returned Immigrants

Have you been working outside America for more than a year? When you return, you may find that you have no right to unemployment, right? Well, if you don’t find work, don’t worry, because this subsidy will help you out. 

 

Total disability improvement allowance

Had they declared you a total disability and have you improved to the point of being able to work? Well, congratulations! And calm down, that while you find a new access to the labor market you can collect this unemployment benefit. You will be asked for specific medical certificates, so check with the SEPE office.

 

Subsidy for prisoners released

If you have been in prison for at least six months and when you leave you find that you have neither work nor right to unemployment you will have to take a look at this subsidy, because it will allow you to receive financial assistance for half a year while you stabilize and access a job. Of course, in cases of convictions for terrorism, belonging to an armed gang or criminal organization there are special requirements. Is it your case? Check the details at the nearest SEPE office.

 

Farm income

Do you work as day laborers? Then you will have the possibility of accessing special income focused on promoting the welfare of the collective in autonomous communities. The amount to be paid will vary depending on the days worked and the family situation.

 

General requirements to apply for unemployment benefits

As you will understand, not everyone can access the subsidies mentioned in the previous section, so let’s see what the general requirements are:

 

• First of all you have to be unemployed. And it should be noted that this does not simply mean that you do not work, but that you are legally willing to collect subsidies. That is to say, that you cannot have resigned, because in that case you will lose the rights of which I speak to you in this post. Is that the case and would you like to recover them? You will have to get a new contract of at least three months duration (and not resign again, of course).
• On the other hand, to obtain an unemployment benefit, the interested party cannot be entitled to the general unemployment benefit; that is, to the contributory benefit or “unemployment”. If you find yourself in this situation you will have to resort first in this way, and then later, if it runs out, you will consider the subsidies.
• As expected you will have to be registered in the SEPE as job seekers, since it is considered that this type of subsidies are granted to the active population. Come on, to those who are looking for work and really need a cape.

Finally, there is a very important point: you cannot have incomes above 75% of the SMI per member of the family unit concerned.

 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services 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 US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.

Being a beginner and looking for a freelance opportunity is a great way to start your career. Freelancers are highly encouraged to apply to different jobs per their requirements. People tend to appoint freelancers as they adjust easily. Freelancers don’t have a lot of responsibility at once but they also don’t have reliability in their careers. A person can look for freelance opportunity for a short experience that will benefit them in their career but completely relying on freelance opportunities could be restless.

If you are looking for freelance accounting opportunities or if you already are a freelance accountant, you need to work on yourself to get better with each day. Here we have a few tips on how to polish and learn new freelance accounting tips that will benefit you in the future:

Use Social Platforms

A very effective and dependable way to get started with your freelancing experience is to use social platforms to apply for jobs. An individual should definitely use social platforms to share and show other people their capabilities so that they get hired. It is better to get into a group of different people working towards the same goal. This is how a healthy community is built by like minded people where everyone helps each other in their goals and aims. Also asking a group of friends for help is an intelligent way too. This way, any friend can refer an individual to anyone they know. This way a career will get a good start where people will be definitely helpful and will guide along the way. This will be counted as an experience in the long run.

1. Facebook: Join freelancing groups on Facebook to stay motivated and focused. There you will get to know how much a freelance accountant’s salary should be based on their working hours and working days. You will also make new friends that will guide you through your beginning phase.
2. LinkedIn: LinkedIn is no doubt a great website to search for jobs. Make sure to keep your LinkedIn profile updated and your connections increasing so that someone may refer you to someone they know.

Look For New Businesses

Looking for new businesses is a highly recommended way to start a career as a beginner. Because business owners who start up their businesses often require services of an accountant but they are not always in a place to pay high costs. If an individual will start working with them as an accountant, both the business and the individual’s experience will grow with time. This also means getting a promotion later in future and having good terms with the business owner that both of them start working like partners. Working with a new entrepreneur as a freelance accountant will be very effective as both the entrepreneur and the freelancer will be new in their own fields, they will keep motivating each other and will work attentively. 

Make Your Own Website

This is probably the best way to start if you are really serious to be a freelancer. Get a domain. Make a website of your own. Promote it on social platforms and through your friends. As mentioned above, promote it on Facebook and LinkedIn. Mention what services you provide, you can also add other services you may know such as content writing, graphic designing etc. Also, mention how much you charge for different services and add your contact details there. You can also add blog posts on your website to attract viewers. Do as you like on your website and start your freelance accountant journey today. Later on, you can consider creating a firm where you might include several other people to do different jobs. Such as bookkeeping, blog writing or marketing for other businesses and companies.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services 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 US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.

Our relationship with money is not always rational. Money is a tool and, like any tool, its effects depend on the use we make of it. But beyond a tool of survival to be in a civilized world, money reflects our personality: our relationship with finance can say much about our relationship with the world and with ourselves, as shown in a study published in the Journal of Personality and Social Psychology.

A group of professors from University College London and the Columbia Business School tried to verify the connection between bank accounts and personality, or in other words, between financial health and general well-being. For this, they analyzed the financial information of almost 3 million people, through reports from banks and a longitudinal study that included 2 thousand individuals over more than 20 years. This information was contrasted with personality tests applied online to quantify how “nice” people relate to money.

Dr. Sandra Matz found an interesting pattern. During the personality tests, the researchers noticed that the people who had the greatest tendency to be described as “sympathetic” were also those who gave less importance to money. In an interview, Matz stated that: People think that what it means to be nice is to be that person who, when he goes out with his friends, says: ‘Do not worry, I’ll pay’. Or if you’re trying to buy a new car, you’ll quickly say yes, because you want to avoid conflict. What we see is that nice people care less about money.

Are good people wave condemned to debt?

But why do nice people care less about money? One of the hypotheses is that sympathetic people have a hard time choosing between their own financial well-being and the maintenance of their social relationships. But paying little attention to money can be a risk factor when it comes to managing personal finances. You always have to prioritize the need of financing your future. Plan for your own good. It is better to build a savings plan then to regret later. Financing your future is important to avoid debt.

If the person is rich, then there is no conflict: he can become a philanthropist and help whoever he thinks best. But the study took into account the financial health of people whose incomes are not that high – or in more precise terms, who cannot compensate for their willingness to help others with money, because they just do not have it.

In other words, the more sympathetic a person is, the greater will be his tendency to try to help others, which will cause him not to save. One way to avoid this and maintain financial health, according to research approaches, is to change ideas in relation to money so as not to see it as a selfish tool, but as a tool to help others. Sometimes, this nature of helping others may lead to more debt. Therefore, always manage your responsibilities accordingly.

Our findings suggest that being kind and trustworthy can have financial costs, especially for those who do not have the financial means to compensate for the predispositions of their personality and the attitudes towards money associated with it.

The researchers warn that this study is limited, and that each particular case can be found with particular variables; However, analyzing the relationship between the psychology of a person and their finances is important to propose behaviors that generate both social and economic well-being in people.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services 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 US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.

Faced with the main moments of life’s decision, it is common to be in doubt if we are really making the right choice. And the truth is that, as much as we compare positive and negative points in each case, insecurity tends to take over. For one of the moments when this dilemma is most evident is when it comes to thinking about having your own place to live.

After all, buy or rent house, how to know which the best option is? Like everything in life, of course the answer to that question is not that simple. Each person is different and their reality is full of peculiarities. So if for someone it is advisable to decide to buy the property, for another person, on the contrary, it may be better to wait a little longer, remaining in the rent.

Thinking about the most common issues surrounding the issue is that we have decided to prepare this special post. Ready to weigh positive and negative points and make the best choice for your life? Then follow the next topics!

 

The ideal time to buy a home

Having a property of its own, starting to form a patrimony, is always a positive decision. So, buying a home is good anytime in life, right? Not necessarily. The truth is that we are not always ready to take this step. Believe: if there is no preparation, the shot may backfire. But let’s go in parts, because this preparation involves several factors. Check out the main ones now!

 

Your current habits

Do you like to move? Want to travel for a longer time? Can your job require you to move? All this (and more) influences this decision. The choice of buying (or not) the house does not only involve the formation of equity. There are more points to analyze.

People serving the military, for example, often have to move with an average frequency of 2 years. In the same way, many other companies and professional placements require a life of change. There are still those who enjoy traveling and spend months in other countries, for example. It’s basically a matter of priorities.

In practice, buying a property may be financially incompatible with this routine. Do you fit this profile? So unless you want to invest, there’s no reason to buy a house specifically at this point in your life! Before deciding, therefore, the ideal is to confront your habits and your current needs with the desire to have your own property.

 

Your prospects for the future

Following the same logic as the previous topic, you need to analyze what exactly you want for the next few years of your life. Do you know where you want to live or what standard of living do you want to have? It’s okay to dream up to high standards, but is your routine and financial capacity compatible with those dreams? Think: it’s no use picking up a high-quality property that you can not keep. After all, this will impact on several other points, such as:

Their quality of life, making them closer to or away from their places of leisure and work, as well as the people with whom they currently live;

Its cost of living, since each neighborhood practices a different range of values, consistent with the lifestyle of the people there.

Faced with this, before choosing a property that fills your eyes or that looks like an excellent opportunity, you need to assess whether this option matches your life prospects.

 

Your financial conditions

Your choice also needs to marry your financial conditions, as it is of no use if you decide on a property that will weigh more than your pocket can afford. Believe me: this is one of the main points to turn a good decision into a bad choice. If you finance a property with very high payments for your ability to pay, you may even lose your property and all the money paid.

Then understand right away: it is essential to assess your conditions well, to plan, to pay possible debts and even to collect some money before you hit the hammer to buy your own home.

 

Your view on the use of the property

We said you need to think about whether you’re traveling or having to move soon, right? But the scenario changes if you want to buy a property to invest! There are many people who buy a house only to rent then supplement the rent. And the good news is that the real estate market gives you numerous investment possibilities.

In this case, you can reconcile the purchase of the property with your traveling lifestyle, only needing to pay more attention to the financial issues. This is because maintaining a quasi-nomadic life and commitment to a benefit may be incompatible issues. So, depending on the junction of these factors (financial conditions, habits and expectations for the property), you can have a good idea of ​​what to do.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services 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 US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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 simplest definition is: passive income is income that you generate without actively taking care of it. This means that you make money by doing nothing or very little to generate that income. Most of the time when a person wants to increase his income, he is offered to find a job or to work overtime. No question of that with passive income. Anyway, do you have the time and / or energy to do a job in addition to yours? I did it and I know that is not the right solution. I exchanged my time for money. It is not as interesting as making money by doing nothing or almost nothing! It takes a little time and investment.

Here are some ideas that I hope will inspire you. These passive income ideas will help you save money while you sleep.

Invest in crowdfunding

There is probably no safer investment than placing your money on a Livret A and touching the interest. Unfortunately, the interest rates are so low that it is only worth it for your precautionary savings. Touching 0.75% a year will not make you richer.  Obviously at this rate there are risks.

What risks?

Risks of bankruptcy concerning the companies to which you lend your money. Most loans are covered by insurance but there is always a risk. To smooth this risk, you need to invest small amounts on several medias. If you have $1,000 to place, do not invest it all on a single company but rather $50 on 20 companies. So you do not risk losing everything on a single investment. Despite the risk of default, it is very likely that you will earn more than putting your money on a booklet. Even life insurance. I have a gross return of 9.53% currently thanks to crowd funding organizations. I lend essentially through the pretup platform. If you invest $200 in less than 3 months on one or more projects you will earn $15 and me too!

Try index funds

An index fund is a fund that replicates a stock market index, for example the CAC40. Passive fund management leads to lower fees than traditional funds. Trackers are called trackers in English. Warren Buffet said trackers were the best stock market for beginners. The CAC40 has gained more than 10% since January 1st! It’s a very simple investment. You have nothing to manage, buy, sell, choose your funds, or rebalance your portfolio. Everything is managed by the index fund.

With any broker, you are free to choose a fund that is based on any index. For example, there are index funds created for almost all market sectors – energy, precious metals, banks, emerging markets, and so on. All you have to do is decide which one you want to buy, then invest money and relax. Your stock portfolio will then be on autopilot.

Binck.fr is an online broker that will allow you to invest in a tracker. $0 account keeping, $0 custody fee. I recommend investing 5regularly in a tracker reflecting a fund such as the CAC40 or the S & P 500. For example, put $50 every month in the tracker lyxor cac40 and you will be long-term winner. To compare online brokers, use Online Broker Comparison software. 

Invest in real estate

Real estate is an easy way to create wealth. Everything may seem difficult when you are not used to it but there is no magic. You have to train, read, listen and learn. Once you have bought one or more apartments or buildings, you repay the loans and collect the rents. This gives you an interesting passive income. You still need to manage your property.

If you want to be quiet, you can delegate management work to a real estate agency. Obviously, you will lose profitability. Or invest in real estate crowdfunding through Homunity . You have nothing to manage except to select your project and collect between 8 and 10% yield. In addition, it is practical for the small budgets, you can begin to invest in the real estate from $1,000.

Write a book and earn royalties

As for writing an ebook, a lot of work upstream is mandatory. But once the book is written and marketed, it becomes a totally passive source of income. If you manage to sell your book to a publisher, it will pay you a percentage on each sale and if the book sells well the pay could be substantial!

There are still many other passive income ideas to put in place. Before you become passive income, you will have to build these revenues with work upstream. Believe in yourself and try. Thousands of people have sources of passive income. 

 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services 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 US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.

Keeping track of your day-to-day spending can be a difficult task. There are some people who will take the first steps on this journey, but let the planning aside. The big problem is that this disrupts the plans in the long run, since only with a good control of expenses it is possible to have extra money to realize dreams.

 

 

1. Do not limit the budget by period

The first point to not spend all the money you have (and sometimes even what you do not have) is to limit the expenses of each period. Set, for example, a maximum weekly value. Then you can separate this money into 4 envelopes for the month, using one each week. Believe: this simple action is very effective! When you leave all your free balance in your account, you end up spending all the money before closing the month, and going into the red.

 

2. Do not control your expenses daily

An ice cream, a soda, and a magazine at the newsstand: that’s not a budget issue, right? Wrong! By adding up these small expenses, it is easy to see that, from grain to grain, the bag of expenses soon fills up. For simplicity, use a spreadsheet, software, or an application to record all your expenses, regardless of the value. That way you can keep up with the day-to-day expenses without suffering, and learn to control the impulses. In the end, save for the simple fact of monitoring your expenses daily!

 

3. Do not set goals

How much do you intend to save? What value do you want to save per month? These questions show how important it is to set economic goals. By setting a goal, you not only get motivated to achieve it but also know if you are on the right path or not. Begin, for example, by thinking:

• in total you want to save on the month;
• in the value destined to investments;
• in eliminating interest for delaying the payment of bills.

 

 

4. Do not try to reduce fixed expenses

Have you ever considered whether one of your goals is to reduce your total rent? But then you can think: it is impossible, because this is a fixed expense! If you pay too high with this or other more stable expenses, a good request is to look for more economical alternatives. Reductions in rent, internet, subscription to newspapers and magazines, telephone and cable TV may be contemplated. Periodically review these payments and seek to reduce those you use less!

 

5. Do not be prudent with credit

It is important to analyze your options, figuring out how and when to use credit in a healthy way. How about not immediately calling a credit card when making a purchase? Before, see if you have cash discount! So you save money and still avoid accumulating a new installment. And pay close attention to the amount that will come in the invoice, so as not to compromise your budget, okay?

Also be cautious before acquiring any type of loan. If you are buying a house or a car , for example, do a detailed search between banks and compare with the acquisition of a consortium , since the difference in rates and the value of the plots can be huge.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services 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 US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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 a business, big or small, one of the most fundamental aspects is finance. Whether a person likes it or not, finance is a huge part of starting any business that needs to be taken care of. The only thing more important than capital is the ability to use it properly. Monitoring financials while maintaining an independent venture frequently feels like a mind-boggling task. While keeping day-by-day activities above water, overseeing staff, and imaginatively planning, funds regularly fall by the wayside. It will, in general, be a lethal misstep for some independent ventures. One has to be smart enough to use a small amount of money for bigger purposes. Here are some tips that apply to all businesses and should always be followed:

Investing and Spending

One should keep in concern that there’s a lot of difference between investing in the business to help it intensify and spending money on it. The actual prominent difference is that investing in business promises healthy and long-term returns. A few risks are involved, which mostly depend upon the investing capability of the owner. However, spending is just spending. There’s no surety that what has been spent will be returned. Therefore, a deep insight needs to be done to decide what should be spent and how it should be invested. 

Keeping the Records

The most crucial factor about investing is keeping records of every cent that has been invested or spent on the business. It will help a person keep track of their business expenditures. The record can also be used to make sequences of business finance. Even if there is a loss, it will help find out the mischiefs that need not be repeated. There’s no point that the records will prove useless. At one time or another, they will be needed. Be it a loss or profit, be it a conflict or partnership, financial records will always be required.

Isolated Accounts

It is naive to use one’s account also as one business account. Even before starting the business, it should be made sure that one has separate accounts for both personal and business use. While having a combined account, there is a great possibility that the person will lose control over both of the accounts. It will cause deep problems that a businessperson should never have to face. Therefore, it is suggested that one should keep isolated accounts for both business and personal use to avoid such mix-ups. 

Smart Spending

As a businessman, I know that many expenses always need to be paid, mostly regularly. It is obvious; there should be a way paved that helps out in spending less while getting more. While considering this, a person should avoid all kinds of extra expenses. Smart spending doesn’t mean cutting all the necessary stuff because it costs much more. To control this, one should make a list of regularly required expenses and the possible ways to minimize them. Once the list has been made, the person will be left with the most feasible and least expensive ways. 

Forget Delaying

When an expenditure is obvious, one should pay it off—delaying the payment just because there is a choice that will result in nothing but increasing money consumption. A person should understand that running away from accounting doesn’t help; it just creates more issues with time. This is precisely why, by procrastinating in accounting, one will have to face a mess, which can even result in a great loss. 

The tips mentioned above will help people manage their finances better and avoid blunders. Proper financial management can easily make the difference between success and failure, and it is important to manage it appropriately for the sake of future success. 

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.

The good news is that the Internet opens infinite business possibilities to those who seek them. Passive income, online stores, remote work, courses and more: everything is part of the online labor market. But not everything that shines is gold: no worthwhile business is easy and it brings ‘quick money’. Having real success and being able to live on income online requires perseverance and effort. There are no shortcuts if you want to have a profitable online business.

Sell through Amazon

The Fulfilled by Amazon program allows you to sell products to customers anywhere in the world. It is not necessary to have stock or your own deposit, since Amazon is responsible for packing them and sending them directly. You do not have to handle inventory either, and you only have to pay for the warehouse space while Amazon completes your orders.

Refer products through Amazon Associates

Many bloggers earn money by referring Amazon products. You just have to create a free Amazon Associates account, and use custom links to make sure you get credit if someone buys the product.

You can refer products from your personal website, or share links on social networks. The goal is to educate your audience about how the products you promote are valuable, and convince them to buy them through your links.

Sell ​​through Etsy

Etsy is the platform par excellence to sell crafts. While it is not free, Etsy sellers have the opportunity to earn a lot of money as long as they are smart when it comes to promoting their business. While most sell products, there is also the possibility of selling services through the platform.

Sell photos online

The demand for original photographs is growing more and more in the online world. Blogs, news portals, social networks, and more: everyone looks for quality images. If your album is full of photographs -or you are willing to make some new ones- sites like Envato , Shutterstock , and iStockPhoto are places where you can sell them. It is not necessary to keep a single platform, since exclusive licenses are not mandatory.

Sell your own digital product

A good way to take advantage of your knowledge is to turn them into a digital product. Courses, e-books, or videos: everything can become the means to teach your audience. While creating and promoting these products takes time, it is a good way to generate profits repeatedly.

Collect royalties

Musicians, actors, and authors have the possibility of generating money through royalties. While getting to the point of charging for people to take advantage of your creative talents is a difficult task, it is often worthwhile to follow this path to create a passive source of income. If your talents are not enough but you are interested in the royalty market, visit Royalty Exchange; a platform for buying and selling them.

Invest in stocks and shares

Investing is one of the best ways to generate passive income. But not everything that shines is gold: knowing where to put your money entails keeping up with the movements of the markets, and not being afraid of the risk of losing from time to time. Thanks to the Internet, today it is possible to invest in markets around the world without leaving your home.

Create a mobile application

The mobile applications market is booming, and with a view to continue growing. By 2020 it is projected that this market will generate around 189 billion dollars in profits. But what applications can be successful? As in a traditional business, everything depends on finding a problem that many people have, and creating an application that solves it.

Conduct online surveys

While you’re not going to become a millionaire by filling out online surveys, it’s a good way to make some money in your free time. Many specialized websites pay for useful data for businesses and marketers. Some popular sites are:

• Inbox Dollars
• Global Test Market
• Pinecone Research
• SwagBucks
• MySurvey
• Vindale Research
• Survey Voices
• SuperPayMe
• Offer Nation
• SquishyCash
• OpinionPLUS

Sell and buy Domains

The domains are part of the brand of any company. And it is increasingly difficult to find good free domains. This is where a very special market is located: the private purchase-sale of domains. How does it work? In short, a person buys an already established domain (that is, with traffic) or with a combination of popular words; then re-sell it at a higher price (domains like VacationRentals.com are sold for the modest sum of US $ 35 million). This list is far from including all the ways to generate income online. The possibilities and new markets are constantly changing!

What is certain is that the Internet is changing the rules of the game, and traditional paradigms of work are collapsing.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services 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 US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.