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achieve financial freedom - Complete Controller

Many people work hard specifically to get to financial freedom. It can take many years and lots of discipline, budgeting, and saving to achieve this hard-earned goal. Some have worked for so many years that they don’t know how to spend the extra time they have on their hands once they achieve financial freedom. Here are five things you should do with your time when you have achieved financial freedom. Check out America's Best Bookkeepers

  1. Spend time with the people you love

Time is precious and now that you have more of it, spend it with your loved ones. Success is not only financial; it is the quality of life you have to show. Most who have achieved financial freedom have done so by sacrificing time with their family and friends, making up for lost time. Invest in quality time with your partner, children, parents, and friends because your children will grow up, your parents will grow old, and you never know how long friendships will last.

It’s time to take that money you sacrificed and worked so hard for and take some shared vacations or visited family and friends that aren’t nearby.

  1. Develop a new hobby (or restart an old one)

Hobbies are proven to be morale and mood boosters. Ask anyone who has a hobby they love, and they will tell you it is equal to therapy. Therapists often use hobbies to help patients redirect anxiety and depression because of the benefits. This will be a time of spark and self-discovery if you don’t already have a hobby. You will need to ask yourself, what have you always wanted to do but didn’t have time to do? Some people pick up gardening or fishing, others golf, or do needlepoint, yet others go into extreme bucket list mode and go skydiving or snorkeling. Check out America's Best Bookkeepers

It doesn’t matter what you choose, pursue something that will bring you joy or soothe your soul.

  1. Get Physical

Though some hobbies may include a physical aspect, this is about taking time for your health through physical activity. Chances are if you worked a lot to get to where you are financially free, you didn’t have time to go to the gym or take a scenic hike or run in the park. Now is the time to take your health in your hands and spend the extra time doing physical activity.

Physical activity could even lead to finding other things you are passionate about and trying them, like dance classes or hiking clubs. Any way you slice it, get moving!

  1. Finish the things you started

Time to finish what you started. When you work hard and many hours, you may find it hard to finish anything you started that wasn’t attached to a work deadline. Now is the time to do everything you have on your honey-do list. The accomplishments you make will be satisfying, and your family and friends will benefit from it. Check out America's Best Bookkeepers

  1. Find a new passion

Just because you reached financial freedom doesn’t mean you have to stop working. However, this is your chance to find your passion and possibly open your own business or do something outside your comfort zone. Financial freedom makes it possible for you to assess your life and see where you want it to go without the pressures of “having” to work. Now is your chance to take that leap of faith and follow a new dream or an old one you put on a shelf.

Conclusion

Time is a commodity many of us don’t have when working hard to achieve financial freedom. However, once that freedom is achieved, it’s time to show time who’s boss and take it back. Give it to people, hobbies, activities, and your passion instead of the grind. You will be happier, and so will all those in your life.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
Financial Stability - Complete Controller

While most responsible adults have steady bill-paying jobs, many don’t have savings or a budget, leaving them financially unhealthy. Understandably, working Americans live paycheck to paycheck, but they don’t have to, even if their income is not that of a millionaire. Here are six easy steps to financial stability. Check out America's Best Bookkeepers

No More Excuses!

We all do it; make excuses for every failure we have in life. Financial matters are no exception. Often there are excuses you are making that are hindering you from financial stability like you don’t make enough, or the cost of living is too high, or a budget doesn’t work for you. The solution is to stop making excuses! It would help if you sat down and budget to see where your money is going and where the deficits are in your income. Once you stop making excuses and use that energy to make a budget, you can make the changes to put you on the path to financial stability.

Stop Putting the Entire Paycheck in Your Checking Account!

Having a checking account is necessary to pay bills and have a central location for your money to be held safely until you spend it. But you should take advantage of direct deposit and have a fixed amount or percentage of your paycheck put into savings or investments. Another way you can save without even trying is to use apps that are for spare change investments. Micro investments can add up, and they are an excellent place to start before moving to more significant investments. Check out America's Best Bookkeepers

Cut Unnecessary Expenditures Now!

Cutting unnecessary expenditures is a no-brainer, but amazingly we all fail to do it over and over. There are entertainment apps, delivery apps, coffee shops, and impulse buys at the grocery store that tempts us to spend money on things we don’t need. The truth is, if we had the budget in place that was mentioned earlier, we might curb these expenses or at least have them at the forefront of our mind when we pull out our cash or debit card. When you complete your budget, divide it into necessities and non-necessities and decide those expenditures you can cut.

Set Financial Goals Like It’s Your Job!

Throughout life, we set goals. When we are young, it is to finish school, maybe to go to college. As responsible adults, our goals may change. Our goals could be to get married, get a better job, or have kids. But many people, while having personal goals, lack financial goals to get them on the path to saving for the future or even for a car or a house. If you are having difficulty setting financial goals, you may want to consider hiring a financial advisor. A professional financial expert will help you figure out what you want regarding money and your future. These advisors will further help you layout the plan to reach every goal. Check out America's Best Bookkeepers

Don’t Be Afraid to Invest!

Understandably, many people are afraid of investing. When people think of investing, they imagine the stock market and find it confusing and even a little scary because of the risks. However, with some professional advice and risk tolerance assessment, anyone can find ways to invest that they will be able to withstand. Many investment options are low to almost no risk.

Say NO to Credit Cards!

The best way to avoid credit card debt is never to get a credit card. If you have good credit or are a student, the credit card offers come pouring in with immediate activation. Avoid the temptation! But, if you decide to get a credit card for emergency purposes, make sure you get one with low interest and truly only use it for emergency purposes. When you do charge something to your card, pay it in full immediately. Payments, especially at the minimum amount due, generally only pay towards the interest and not the principal.

Conclusion

You can become financially stable quickly if you take these easy steps. If you stop making excuses, save some of your paycheck, cut unnecessary expenses, set goals, invest, invest, INVEST, and say no to credit cards, you will be financially stable in no time!

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
money making apps - Complete Controller

Did you know that your mobile device can become a source of extra income? It’s true, thanks to apps that you can install on your phone completely free. Using money-making apps can be easy and even a fun way to earn some extra cash. Here seven of the best apps to earn money and how they work. Check out America's Best Bookkeepers

eBay

eBay is an excellent app to earn money on items you no longer want or need. Many have also built a business around finding items at thrift stores and estate and garage sales and fixing them up or selling as is at a profit. On eBay, it is an auction style sale with the option to sell items at a “Buy It Now” fixed price. For some rarer or sought after items, it is best to use the auction items as the competition can sometimes drive the price much higher than expected. All transactions are done through PayPal, making it secure. There are some fees involved; however, most are minimal in comparison to the returns.

Foap

The Foap app is an app that allows users to make money uploading and selling their photos and videos. When a company, person, or brand purchases one of your photos or videos, you split the profits 50/50 with Foap. You can use pictures or videos you’ve already taken or earn higher pay by taking new ones through “missions.” It is a fun way to use your photography and videography skills while making money. This app calls for the user to have an active PayPal account to receive payment. Check out America's Best Bookkeepers

Acorns

Acorns is a spare change investment app. Through a linked bank account, Acorns rounds every purchase to the nearest dollar and uses that “spare change” to make investments. This is an excellent app for first-time investors that don’t have a lot of capital to invest; however, it does have a ceiling of the money you can earn, so that should help you decide how to use it. It also has a small monthly fee depending on the tier chosen.

SweatCoin

This app is perfect for the person that endeavors to step it up every day and get your steps in. On Sweatcoin, you earn $0.95 for every 1,000 steps you take. While this app does not earn you cash, it earns you shopping credits at over 300 retailers. You’re walking anyway, why not earn free stuff?

OfferUp

OfferUp is as if eBay and Craigslist had a baby. OfferUp used to be an app only for local sales of second-hand items within your area. But it now has the added feature of shipping open it up to the world like eBay. The great thing about eBay and Craigslist is that it costs nothing to post or sell your items. It also helps you predetermine shipping costs at the time of posting so you can consider it when setting a sale price. If purchased locally, you can save money on the shipping and schedule a meetup with the buyer. Check out America's Best Bookkeepers

MoBee

Mobee is a secret shopper app that offers missions in your area. If you choose the mission, it gives you instructions on what to do. The missions could be taking a survey or taking a picture inside the store. When you complete missions, Mobee rewards you points that can be redeemed for gift cards to various shopping sites and establishments, including Amazon.

TaskRabbit

TaskRabbit is an app that helps you get paid to do physical labor services in your area. You set up a profile with the services and skills you offer, and people hire you to help them out. Some of the more popular tasks are moving, cleaning, rearranging furniture, mounting a television, etc. If you aren’t afraid of some physical labor, you can make a good side-hustle from TaskRabbit.

Conclusion

There are many other money-making apps, but these seven apps are the best to start making money today. And some of them are even fun!

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
Passive Income - Complete Controller

Most responsible adults earn money through active income, which is income for services that have been performed. Active income includes salaries, wages, commissions, and tips. It also includes earnings from a business that you own and operate.

Passive income is earning money through sources in which the earner is not actively involved. This includes dividends, royalties, interest, and rental income. Passive income is a rewarding way to earn money because your money is doing all the work while reaping the benefits. Here are six ways to earn money through passive income. Check out America's Best Bookkeepers

Real Estate Investment

There is more than one way to earn money through real estate investments. You can purchase a property then rent it out. Once expenses are paid, such as a mortgage, taxes, and maintenance, the rest of the money earned is passive income.

Another way to earn money is through crowdfunded real estate. This type of real estate investment offers investors less money to purchase real estate as the buy-in amount ranges from $500 to $5,000. Most crowdfunded real estate options don’t allow you to choose where to invest, nor is it easily liquidated. But it is still a great option to earn money through passive income.

Dividend-Paying Stocks

Buying stocks is not a new concept when it comes to earning money through passive income. Dividend-paying stocks generally pay out dividends quarterly. Most smart investors take dividends and reinvest them. But if you are looking at it as a passive income source, you can use the money you earn to pay bills or save towards long term goals. Check out America's Best Bookkeepers

Peer-to-Peer Lending

Another great way to earn a passive income is through peer-to-peer lending by becoming a part of a lending club. You earn money receiving returns on interest. There is some risk though minimal, due to the possibility of the lendee defaulting on the loan. The risk is far less in lending clubs than if you directly lent money to a loved one.

High-Yield Savings

There are several types of savings accounts but opening a high-yield savings account immediately starts earning you money on dividends, earning you passive income. Similar to dividend-paying stocks, some high-yield savings account will earn you a usable income, quarterly. Check with a financial advisor to find the best high-yield savings options that will earn you the most passive income.

Royalty Earning Creations

There are multiple creative ways to earn a passive income after you complete the initial work. Writing an ebook is one way to earn money on a passive income. You can also earn royalties by selling your photos on stock photo sites. And yet another way to earn a passive income through creativity is to produce an online course. Once you do the initial work, the income from that point forward will be passive. Check out America's Best Bookkeepers

Use What You Have

There are several ways you can earn a passive income using what you have. You can use your car to earn money while you drive by using it to advertise. You get a percentage of the income that comes in from your efforts. You can also earn money by renting out an extra room in your home. Yet another way to earn is by shopping. Some apps offer cash for shopping in certain stores or for specific products.

Conclusion

A passive income is a great way to increase your income streams or replace your main source of income. There are many other ways to earn a passive income. The main thing to remember is you may have to put in some initial work to earn money, but the payoff will be worth it.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
save money - Complete Controller

Saving money is something every responsible adult wants to do but often fails to do. It’s not that it’s incredibly challenging, but it does take some work to do it. Saving money is not something that comes naturally to most people. It is the opposite; what seems to come naturally is spending and often outside their means. Check out America's Best Bookkeepers

Even micro-savings can add up over time. Some savings are even from sources that essentially are giving you free money. Here are some painless ways to save money that should add up to a more significant savings account.

Painless Ways to Save Money:

  • The Internet is filled with many online rebate sites such as MrRebates and Ebates offering money-back rebates and online coupons.
  • Signing up for customer rewards is another great way to save money. Many stores offer client rewards on many products the customer is already buying.
  • Switching from ordinary bulbs to compact, bright bulbs will go easy on electricity and eventually save money.
  • Buy a programmable thermostat to power cooling and heat when nobody is at home.
  • Buying coffee from a shop is costly. Making coffee at home is easy and saves a lot of money.
  • Use clipped coupons to save that extra money on groceries and household products.
  • Pack and bring homemade lunches to work instead of going to a restaurant.
  • Eat at home more often can help save money and is a healthier option.
  • Avoid buying name brands instead of buying store brands, as most of these generic brands are just as good as name brands and are much cheaper.
  • Start drinking tap water by filtering it instead of buying bottles. Check out America's Best Bookkeepers
  • Avoid buying items from vending machines; they are usually over-priced.
  • Daytime movie showtimes are cheaper than night showtimes.
  • Cancel extra cable/satellite channels that nobody watches.
  • Using online automatic payment systems saves money, as many companies offer discounts for automatic payments.
  • Buy daily use items in bulk as bulk pricing is significantly cheaper.
  • Get a library card instead of buying books; it is free in most cities.
  • Cancel all the newspaper or magazine subscriptions that you do not read, use the Internet to get news or information.
  • Checking the air pressure in your tires while keeping up proper automobile maintenance will result in better fuel mileage.
  • Make a habit of buying used items, whether small like a video game or big such furniture or a car. Buying useful conditioned used items will save a lot of money compared to buying new ones.
  • Avoid going off the grocery list. Make a list of the household items before going shopping and stick to that list at all costs.
  • Never be afraid to ask for a discount. Ask for discounted prices and bargains when shopping.
  • The Internet is filled with instructions on how to fix or refurbish almost anything. Try fixing old stuff instead of buying new ones.
  • Many legit online sources allow a user to swap and trade used books, music, and movies with other online users.
  • Compare prices before buying items such as clothes and accessories.
  • Seek out free items; they can be for your use or to resale for pure profit.
  • Buy items used and refurbish, repurpose, or resale. Check out America's Best Bookkeepers

Budget and Financial Goals

Once you have built some habits and found some ways to save money, you should consider keeping a budget that includes your financial goals. Most people are barely getting by living paycheck to paycheck with no savings or financial goals. This is the time to set goals such as:

  • Purchasing a home
  • Purchasing a car
  • Getting married
  • Taking vacations
  • Emergency funds
  • Retirement
  • And more…

Conclusion

Everyone hears about spending habits, but now you need to focus on savings habits. Until you stop spending beyond your means or ignoring your savings account, you can never expect to be financially free or reaching your financial goals.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
Save in your 40s - Complete Controller

Every responsible adult would agree that savings are essential at any age, but most middle to lower-income earners have little to no savings by the time they reach forty. If you put it off or life had you living paycheck to paycheck and staring forty in the face, it’s not too late to start saving. Below are some tips to help you save money for retirement, emergencies, and other life goals. Check out America's Best Bookkeepers

Investments

When people hear the word savings, they generally think of taking a set percentage of their paycheck and putting it directly into a savings account. While this is a good idea in the respect that you are working to save money, bank savings accounts are not the way to save towards big goals.

 

Savings accounts are often low interest and are closer to putting your savings under your mattress or in the cookie jar. Instead, consult a professional financial planner and find ways to invest money to gain you more interest and grow your money more quickly. These investments could be through mutual funds, investment savings plans, investing in stocks, or buying properties or items that appreciate over the length of ownership. The essential thing to remember about investments is that you should research options and understand the risks and rewards. Check out America's Best Bookkeepers

 

Multiple Streams of Income

Besides investments that increase your existing income, another way to save towards your goal of three times your annual income by age forty is through additional income streams. In today’s world, the side hustle is typical as people make ends meet or work towards savings or other life goals financially. These side hustles could include driving for Uber or Lyft, or Postmates, etc. Like investments, additional streams of income should be well researched. Some options require little of your time and virtually no interference with your main job paying the bills.

 

Retirement Savings Plans

Many companies offer a retirement savings plan. This savings plan is a fund that the employee will contribute to from each paycheck. In most cases, the companies that provide retirement savings plans will also have offers to match a certain percentage of what the employee is investing in. While retirement savings plans are a great way to save money that has you seldom missing the money put into them, there are also some drawbacks to this type of savings. There are often penalties on early withdrawals of the money. Even because most of these savings plans are not taxed at the time of savings, you will owe a tax percentage on the savings when you withdraw the funds. Many retirement savings plans are also attached to mutual funds to increase them and are vulnerable to market fluctuations. When the economy is in a downturn or recession at retirement or the time of withdrawal, your money will not hold as much value. Check out America's Best Bookkeepers

 

Conclusion

Though leaving your thirties behind and facing the fabulous forties seems daunting, when it comes to savings, it’s easier than you think. Investments, multiple streams of income, and retirement savings plans are three reliable ways to save money for emergencies, big purchase items, and retirement. Most people decide that if they didn’t start saving earlier, they are too late to start in their 40’s, which is not factual. Any age can start saving if they have not and decide to put some money aside. Be prepared to be more aggressive to save what you need for the things important to you, but if you follow these ideas, you will be saving in your forties in no time.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
Save and Invest Money - Complete Controller

Saving and investing money intelligently is based on learning good habits and changing the bad ones.  The goal of savings and investments is to achieve financial freedom and have the lifestyle you desire. While everyone’s goals will be different based on their lifestyle and income, these tips on saving and investing intelligently will work for everyone. Check out America's Best Bookkeepers

Understand Your Investments

Some people will blindly invest in interests because others are doing the same. And while it is recommended that you hire a professional financial advisor to help you plan investments, you still need to understand your investments and how they work. If you don’t have an understanding of them, you could be hit with penalties, fees, and unforeseen taxes. You also need to understand the risks before investing and continue to monitor them.

Manage Risk

Risk management is essential to saving and investing; assessing the risks in potential investments before making them could result in thousands of dollars in savings. Because high-risk is a high reward, many investors take unnecessary risks that have devastating results. It is wise to invest in lower-risk investments and build them slowly. Also, spreading your money to multiple low-risk investments increases security and your rate of return. Check out America's Best Bookkeepers

Minimize Taxes

Saving on taxes may seem like a no-brainer, but millions of Americans per year leave money on the table by not taking advantage of deductions and other tax-saving measures. The bottom line is, if you save money on your taxes, you will have more of it to invest and grow. The best way to fully take advantage of tax-saving strategies is to hire a professional tax preparer. These professionals went to school to learn how to save you tons of money on your taxes.

Control Your Expenses

Controlling what you spend is another obvious money saver, but many people have trouble with this measure. Some of the world’s wealthiest people are thrifty with their money even though they have millions in the bank. Curbing spending in the short-term can have a large effect on your long term net worth. The more money you save by controlling expenses, the more you have to invest and grow. Even small changes or savings like avoiding unnecessary fees or getting an account with a cashback benefit can add up to smart savings and money for investments. You can also look at daily, weekly, and monthly expenses and prioritize to find where you can cut without the changes feeling too strict. Check out America's Best Bookkeepers

Use Automation

Most people who have a hard time saving or investing their money find difficulty in letting it go once they have it in their hand or bank account. One of the most effective ways to help let go of that money and put it to better use in savings or investments is to use automation. Automation means you will set up your income to automatically put money in savings, major investments, or micro-investments. Micro-investments are those that take spare change to make investments. The main advantage of automatic deposits or investments is the money isn’t missed, and you will start shifting your thinking to set your budget with the income you receive after the automatic withdrawal is processed.

Conclusion

You don’t have to be a stockbroker or investment banker to save and invest money intelligently; you have to be willing to do what it takes. Small investors still have the title of “the investor”; this means you are on your way to more savings and investments down the road that will lead to total financial freedom. Understanding your investments, managing risks, saving on your taxes, and controlling your spending are four reliable ways to be a smart investor and save money for your future.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
buying a car - Complete Controller

Buying a car can be one of the most exciting purchases we make in our lives. A car is more than transportation. It says something about us without words. When deciding to buy a car, you must consider more than comfort, looks, and style. It would help if you contemplated the most important factor in car buying, the financial impact. Here are 5 steps to purchasing a car that will save you money without sacrificing quality and style. Check out America's Best Bookkeepers

  1. Research

The first stage of buying a car will always be research. A car purchase should never be an impulse buy. It should be well thought out and researched heavily before another step is taken in the process. The two main sources for thorough research are the internet and personal relationships. While the internet can provide the most information on specifics such as safety, features, reviews, and cost, word of mouth can be the most valuable source of information on what car is best for you. During this initial step, you will also begin research on the next step, financing.

  1. Financing

While ideally, a car purchase could be made with cash, often that is not the case. Most often, cars are purchased through financing via loans. Before you shop for your vehicle beyond research, knowing how you will secure money for the car purchase will be important. Financing should not be decided when you are sitting in front of an eager salesman looking to make a commission. It must be established before you even walk in the door of a dealership or meet with a seller. You should know your buying power, credit score, financing options, and what you can afford. In some cases, you can even go to your bank or other financial institution and get pre-approved for a loan you have negotiated before you shop. This option would let you know how much you can spend and inform your choices. Check out America's Best Bookkeepers

  1. Shopping

This step is beyond the research stage. At this point, you should be aware of your preferences and have some options based on desires, financial capabilities, and practicality. It would help if you had all the power in your car-buying decisions, not the salesperson or seller. With the internet, you can often even shop specific cars, dealerships, or private owners without total in-person interaction. This is about retaining the power in your purchase.

  1. Negotiation

Though you should have made all the decisions before meeting with a salesperson or seller, you can leave room for negotiation. Keep the following in mind during the negotiation:

  • Do not buy outside your means or buying power
  • Remain in control of the process
  • Negotiate the total purchase price, not the monthly payment
  • Be aware of the interest rate and negotiate it to the lowest rate possible

Negotiation is often the point where buyers end up paying more for their car than they should. The salesperson or seller has a common goal of getting the highest amount they can. We can’t fault them for this, but we also cannot allow it to cost us money we could have saved. Check out America's Best Bookkeepers

  1. Closing

Once you make your final decision and have negotiated the best deal, its time to close. The following are what you need to close:

  • Funding for the down payment (if there is one) and tax, title, and license
  • Purchasing car insurance
  • Ensuring all negotiated points are in the contract
  • All documents needed to close

Next to buying a house, car purchases are the most expensive purchase we make. This should not be something we do with light consideration. Follow the 5 steps, and you should be driving away in the car you desire with the best deal you available.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers
Save Money In College - Complete Controller

Textbooks

Textbooks are one of the largest expenses when attending school (outside of tuition and housing.) To save money on textbooks and required reading, here are a few options.

  • Check availability at the school or local library
  • Search for websites and apps that offer free ebook books and textbooks
  • Share costs with other students taking the same classes
  • Check with the school; some have textbook and book exchange programs
  • Check used book sites and stores to get the books and textbooks at discounted prices
  • Search for sites or stores that rent books and textbooks Check out America's Best Bookkeepers

Student Discounts

Student discounts are available for everything, from laptops to entertainment. While student discounts are widely available, they aren’t always advertised. Some websites and apps help identify where discounts are offered that you can access before you even leave your dorm. Some stores, restaurants, and theaters will have signs to indicate discounts are offered. But if all those fail, make sure you have your student ID on you wherever you go and do things the old fashioned way and ASK! Please don’t be shy, the worst thing they can do is say no, but the best thing they can do is save you money.

Eating In

It doesn’t take a physics major to know it is cheaper to eat in than to eat out, but it is worth the reminder. Even if you don’t like to cook, there are quick and easily ready to go meals you can heat and eat in minutes. Plus, it can be healthier than most restaurant choices. Or if healthy isn’t your cup o’ ramen, junk food is way cheaper store-bought than from a menu. If you can’t resist going out on occasion, remember to grab your student ID and try for a discount! Check out America's Best Bookkeepers

Save on Housing

Living at home is by far the least expensive housing option, plus home-cooked meals and possibly getting your laundry done by mom are other advantages of living at home while in school. But, if college is not only for the educational value but also the chance to get away from your crazy family, choosing the dorm over an off-campus rental will save you big bucks. If the dorm is not for you, get a roommate you can stand, to save you money by splitting the cost of rent and utilities.

Use Public Transportation

Payments, gas, parking, insurance, and maintenance make having a car expensive. Using a bus pass or other means of transportation that are low cost or free will save you lots of money.  If you can’t live without a car, there are a few ways you can cut costs. You can use your vehicle to side-hustle delivering or being a rideshare driver. You can also share a car and expenses with a friend and work out a usage schedule. Check out America's Best Bookkeepers

Limit Credit Card Usage

Many students get credit card offers as soon as they apply for college. While it would be best to resist the offers and be credit card free, most students can’t resist getting a card. If you have one, limit the use to emergency needs only. Suppose you decide to make a purchase or use if for an emergency, pay off the balance immediately. This quick turnaround will prevent a large amount of interest. Avoid the habit of using a credit card for wants rather than needs.

Conclusion

It is easy to save money while you’re in college if you make simple adjustments and use discounts and shared costs to your financial advantage. Stick to these money-saving tips, and you won’t leave college up to your ears in debt.

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