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Passive Income - Complete Controller

Many financially mature adults earn money through active income, which is the income for selling goods or services. Active income includes revenue from wages, commissions, sales, salaries, and tips. It also includes gains from a business that you develop, own, and manage.

Passive income is making money through resources in which the recipient is not actively engaged. Passive income includes interest, royalties, dividends, rental income, and silent partnerships. Passive income is a satisfying way to earn money as your capital is doing all the work while you are passively reaping the benefits. Here are six passive income money earners. Check out America's Best Bookkeepers

Real Estate Investment

There are a few ways to make money via real estate investments. You can acquire a home or office building then rent it out. Once expenditures are paid, such as taxes, maintenance, and your mortgage, the remaining money earned is passive income profits.

Another way to earn real estate investment money is through crowdfunded real estate investing. This type of real estate investment allows investors to purchase real estate with a smaller amount of capital. The general crowdfunding buy-in amount ranges from $500 to $5,000. The majority of crowdfunded real estate sites don’t allow you to decide where to invest, nor is it liquidated. But it is still a good option to earn money via passive income. Check out America's Best Bookkeepers

Dividend-Paying Stocks

Purchasing stocks is not a new investment idea to earn a passive income. Dividend-paying stocks normally pay out dividends a few times a year. Most intelligent investors take dividends and reinvest them in more stocks to keep growing their portfolios. However, if you are looking at it as a passive income source, you can use the gains to pay bills or to save towards longer-term goals.

Peer-to-Peer Lending

Another excellent way to earn a passive income is via peer-to-peer lending. Peer-to-peer lending is the concept of becoming a part of a lending club. You earn income by receiving returns on interest in addition to the money you lent. There is some risk, although it is minimal. This risk is due to the idea that the lendee could default on the loan. The risk is much less in lending clubs than if you directly loaned money to a loved one.

High-Yield Savings

There are many savings accounts but starting a high-yield savings account immediately begins earning you money on dividends, thus earning you passive income. Like dividend-paying stocks, some high-yield savings accounts will earn you an accessible income every quarter. Check with a financial professional to find the best high-yield savings possibilities that will earn you the highest amount of passive income. Check out America's Best Bookkeepers

Royalty Earning Creations

There are several imaginative ways to earn a passive income after you finish the initial work. Writing an ebook is one way to earn money on a passive income. You can also earn royalties by offering your photos on stock photo sites. Yet another way to creatively earn a passive income is to produce an online class. Once you do the initial work, the income from that original production will be passive.

Use What You Have

There are numerous ways you can earn a passive income using what you already have. You can use your car to earn income by offering rideshares or advertising on your car when you drive. With the rideshare, you earn both payments from the platform and tips. When you use your car for advertising, you get a percentage of the income that comes in from your endeavors. You can also earn money by leasing out an extra room in your house. Another way to gain is by shopping as some apps offer cash for shopping for certain products or in specific stores.

Conclusion

A passive income is an excellent way to boost your income streams or replace your main income source. There is a multitude of 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
Money-Making Apps - Complete Controller

Your mobile or other smart devices can become a money maker. This income is possible because you can install it on your smart device or phone for free. Using these money-making apps can be a fun and easy way to earn extra money and even replace your income. Here are seven of the top apps to earn money and how to use them. Check out America's Best Bookkeepers

Foap

The Foap app allows users to make money by uploading and selling their original photos and videos. When a business, individual, or brand purchases one of your photos or videos, you split the profits 50/50 with Foap. You can use photos or videos you’ve previously captured or earn higher pay by taking new ones through different missions set up by the app. It is an enjoyable way to use your photography and videography skills while earning money. This app asks for the user to have a PayPal account to receive payment.

SweatCoin

This app is perfect for the individual trying to get a lot of steps in every day for the health benefits. On Sweatcoin, you make $0.95 for every 1000 steps you take, encouraging you to take a lot more steps a day as this can add up. The money you earn is not in cash, but it earns you credits you can use for shopping at 300 plus retailers. The truth is, if you’re walking anyway, why not get some free stuff while you’re at it? Check out America's Best Bookkeepers

eBay

eBay is an excellent resale app that has been around for years. Depending on the items you offer on the site, the potential for earning a great income. Some vendors that sell on eBay have developed a business around discovering things at thrift stores and yard or estate sales and restoring them or selling for a profit. On eBay, it is an auction sale that includes selling items at a “Buy It Now” flat price. For some scarcer or heavily sought after items, it is best to set up an auction sale as the competition can occasionally drive the price much higher than anticipated. All dealings are done through PayPal, making it secure. There are a few fees; however, most are negligible in comparison to the returns.

OfferUp

OfferUp is as if eBay and Craigslist were combined to make one app. OfferUp used to be an app for local sales of unwanted or second-hand items within your region. But it now has the added aspect of shipping open it up to the world like eBay. The great thing in contrast to eBay or Craigslist is that it is free to post or sell your items. You predetermine shipment costs at the time of publishing so you can contemplate it when establishing a sale price. If bought locally, you can save money on the shipment and schedule a meeting with the buyer.

Mobee

Mobee is a secret shopper app that presents tasks in your region. If you choose the objective, it gives you directions on what to do. The tasks could be taking a survey or taking a picture inside the store. When you complete tasks, Mobee pays you with points that can be exchanged for gift cards to various shopping sites and businesses, including Amazon. Check out America's Best Bookkeepers

Acorns

Acorns is an investment app that uses your spare change. Acorns rounds each purchase to the nearest dollar through a connected bank account and use that “spare change” to invest. This investment app is excellent for first-time investors that don’t have a lot of money to invest. However, it does have a maximum amount of money you can make to help you determine how to use it. It also has a small monthly fee dependent on the level selected.

TaskRabbit

TaskRabbit is an app that facilitates you to get paid to accomplish physical labor services in your vicinity. You set up a user profile with the skills and services you offer, and individuals hire you to help them out. Some of the more common 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
Personal Finances - Complete Controller

Personal finances are one of the primary concerns when considering financial management and decisions. There are many related challenges that people may face when attempting to improve their finances. Sometimes, all you may need are a few tips to make significant improvements to your personal finances.

Read on as we share some useful tips to manage and improve personal finances. We will look at certain practices that may help in reaching your personal goals quickly. Check out America's Best Bookkeepers

Estimate your daily expenses

Many people do not know how much they spent last month or even how much they saved and gained. Maintaining a system of checks and balances on eating, fuel, smartphone expenses, and all other secondary expenses is necessary. In fact, if you want to improve your personal finances, you must track every single expenditure. This will encourage you to manage your extra spending by gaining awareness of where your money is going. For daily expense estimations and monitoring, you can use different mobile apps and websites such as the TrackMySPEND smartphone application. This will allow you to monitor the amount of income and expenditures coming in and out of your account. Consequently, smarter spending will become painless. Check out America's Best Bookkeepers

Pay your bills on time

On-time bill payment is the best way to track investors, obtain loans, and manage personal finances without much stress. If you have an outstanding loan amount, it is necessary to pay your bills on time without any gaps. When you are debt-free, more people will invest in your business or finance your projects. If you do not pay all your bills on time, you may not be eligible for a massive loan, and you will have a restriction for seven to ten years on your credit history.

Save your money for future

A healthy savings account is the most powerful asset for financial security. Saving takes a remarkable amount of patience, as you must allocate a specific chunk of your monthly income through sacrificing many unnecessary purchases. You should save at least 20% of the money from your monthly income for a better personal financial future. Make sure you set aside this amount for savings before spending on any additional expenses.

Discard all your credit cards

Credit cards can be great financial companions, especially when you are short on money and need to buy something urgent and essential. However, there are many scenarios where we spend frivolously when we do not need to. In fact, credit cards can cause a nightmare of debt and interest. This is particularly relevant when there is a lack of self-discipline surrounding spending. That is why experts advise that you discard your credit cards in times of financial hardship. Check out America's Best Bookkeepers

Make a proper budget

Create a proper budget to improve your personal finances. Then, adhere to it religiously while remaining motivated to improve your financial health. Doing this will ensure better and faster results.

Maintaining a budget or record of your personal activities is necessary for the improvement of your finances. Many people lack awareness of exactly where they are spending their money each month.

Consider your overall expenses, including both necessary and extra spending. Then, notate these expenditures on a separate sheet. After having all the details, start subtracting your leisure expenditures and add them to a savings account. In the end, you will be off to a great start towards managing your personal finances.

Paying off your debts should be a top priority. Once this is done, you can then begin allocating money towards your savings goals. By doing this, you will see productive results regarding the improvement of your personal finance management.

Invest to maximize your wealth

Some people believe that investing money is a total waste of time. This may be true if you are investing a large amount of money into only one place or asset. The best way to efficiently invest is by diversifying. For example, consider consulting with a bank to diversify your portfolio and give you a monthly return.

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 You Money - Complete Controller

There are so many rules in life we have to follow, but there should especially be rules for personal finances. When it comes to financial health, every fiscally accountable individual should follow dos and don’ts. Here are six excellent financial rules that, if followed, can save you money.

 

No Credit Cards

Saying no to credit cards is a financial rule that every individual should follow. I know some would say that they are great for difficulties, but a safer idea would be to use the money you save on credit card high-interest costs to start an emergency savings account, one that increases your interest. Credit card debts are a billion-dollar business and primarily from the interest people pay, not the principle. Even if you have a great credit score, say no to a credit card and keep it that way.

 

Buy an Inexpensive Car

While many cars are a status indicator, paying a lot for prestige is not a good financial rule. A good financial rule when it comes to buying a car is the final cost should be less than half of your annual salary. If you can’t pay for a vehicle in cash, buy from a car dealership where you get a reasonable interest rate and inexpensive car payment not to exceed a quarter of your monthly income. When negotiating, make the sales individual gives you the final cost of the car in total with and without interest, don’t allow them only to give you the monthly payment total. This way of offering the cost of the vehicle hides high-interest rates or vehicle prices. Always buy used if you can. You can generally get a great car for a fraction of the cost when buying a used one.

 

Shop Around for Insurance

The financial rule on insurance is only to buy what you require. Insurance is something you pay into in case you need it, so you need to buy intelligently. Some insurance is required by law in certain states. Therefore, get the greatest coverage but look around for the least expensive prices. It could make hundreds of dollars of difference in your overall costs. Health insurance, homeowners, renters, and life insurance are other expenses.

 

The 10/10/80 Rule

Savings must be the priority of every financially sensible individual. There is a rule that says you should save 10%, give 10%, and spend 80% as a straightforward means of allotting your income. While this is an excellent financial rule, this should be a beginning point towards savings and donating. The most crucial thing is that you save, give, and carefully spend. You can alter the allotment calculations to fit your goals and lifestyle. But one financial rule that occurs from the 10/10/80 process is that savings are first, not last. Warren Buffet clarified that you should save first before you spend, not the other way around.

 

The 50/30/20 Rule

50/30/20 is another money allocation financial rule. This financial rule also has savings built-in but happens after the debt is paid off. This rule is 50% of your income for necessities and bills, 30% towards financial objectives such as paying debt and savings, and 20% to wants, which is anything you desire to buy that isn’t in the other two categories. This financial rule can be adjusted according to your lifestyle, but it does not prioritize savings like the 10/10/80 financial rule.

 

Make a 20% Down Payment

The 20% down payment rule applies to anything you will buy on credit. It is the idea that you should have 20% of the total cost saved before the purchase. This rule is generally for those purchasing a home, getting a loan for various reasons, or buying a vehicle. The idea is that paying 20% of the total upfront will lower interest and payments, adding considerable savings when the final payment is made. This rule can be applied to anything you buy on credit, even if the place of purchase doesn’t accept a down payment. If you can pay down 20% of your first payment’s total cost, this will bring you to your payoff date sooner and save you money on interest.

 

Conclusion

Financial health and freedom should be every financially responsible individual’s goal. While there are many things you can do to contribute to your financial health and freedom, using one or more of these rules of thumb will ensure you reach this goal.

Mutual Funds - Complete Controller

Mutual funds are investment tools that invest money by gathering multiple investors’ monetary contributions, natural or legal, and pooling them to invest in different investment securities. With the union of multiple investors’ capital, different investments can be accessed under advantageous conditions to obtain the participants’ profitability. Check out America's Best Bookkeepers

What are mutual funds?

When investing in a mutual fund, the money is managed by a management company specializing in managing different investment portfolios. These can be formed by different values ​​such as shares, corporate and public bonds, real estate assets, international securities, other funds of investment, mortgage bills, etc. The composition of the portfolio is defined in the mutual fund contract so that the investor can decide whether or not to participate according to their preferences.

Advantages of Mutual Funds 

Here are the advantages of mutual funds:

  • You can invest from very low amounts.
  • Simplicity: it’s easy to invest in them.
  • The Mutual Funds are issued by Banks and entities audited by the Superintendency of Securities and Insurance, which offers security in the investor’s management.
  • With the daily calculation of the quota, the investor can redeem his capital at any time, differentiating it from a term deposit.
  • Globalization, access to any market.
  • Multiple investment alternatives, which adapt to the risk profile of each person. Accessibility. With a small investment, the investor can access different instruments, to which, due to their value or high transaction costs, he could not opt ​​for as an individual investor. Check out America's Best Bookkeepers
  • Professional management through managers with investment professionals that will maximize the target profitability.
  • The investor does not need to be involved in buying and selling the assets as he would be if he directly managed his investments.
  • They allow access to diversified investments, developing a portfolio according to the level of risk that suits you, integrating fixed income instruments and capitalization instruments that are difficult for individuals to access.
  • You can perform partial or total rescues as many times as you wish; there are no fixed deadlines or expiration dates.
  • They do not have expiration dates or require renewals.
  • If your needs or investment objectives change, you can transfer part or all of your investment to other funds that best suit your new requirements.
  • Tribute only for the real utility that it perceives when redeeming its shares from a mutual fund while the client does not rescue their investments.

 What types of Mutual Funds are there?

In general, mutual funds have varied investment portfolios, so we can find funds that only invest in shares, others that will invest in debt securities, and mutual funds that invest in both types. Check out America's Best Bookkeepers

In general, mutual funds will be invested in these types of investments:

  • Short-term debt investments: public offer values ​​representative of debt, the term of which until their total extinction does not exceed 365 days as of the valuation date of the fund.
  • Medium and long-term debt investments: public offer values ​​representative of debt whose term until their total extinction exceeds 365 days as of the valuation date of the fund.
  • Capitalization investments: public offering values ​​representative of capital, such as shares of public limited companies, mutual funds quotas, mutual fund quotas, among others.
  • Mutual funds that invest in equities or shares.
  • National or international funds.
  • Funds in national currency or other currencies.

Conclusion

Mutual funds are highly recommended for all investors, whether savvy or a beginner. It would be best to consult a financial planner or an investment broker to be sure you are investing in the right mutual fund. However, mutual funds are a lower-risk investment, and as long as you do your research, you can make good choices in mutual funds on your own. Knowing the advantages and the types of mutual funds available is a great start to making good investments.

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
Manage Your Budget - Complete Controller

Managing money is not easy! While financing a project, your company can lose money if it is not managed correctly. From production to marketing to paying your workforce, every end of business requires some financial investment. It can happen quite quickly that your business runs out of money. Unpaid customers, increased inventory, investments, late payments are all reasons that can push your business towards a cash deficit. Here four tips that can help you manage your budget when you have little money. Check out America's Best Bookkeepers

Prepare a Cash Plan

Record all your cash receipts and disbursements for at least six months before spending them. With this document, you will be able to identify the difference between your receipts and your disbursements. Furthermore, it will help you identify the least useful disbursements. Consider reducing the gap between receipts and disbursements to have a better balance, i.e., a positive cash balance.

And in case your cash balance is already positive, always try to minimize or cutting down the cost on expenditures that does your business no good. For it will be beneficial to you as long as you use recently released money wisely.

Identify Financing Needs

A financial plan helps your business run in the right direction. It will keep you aligned with your goals and end products. When you plan your expenses, you spend accordingly. Furthermore, plans give you an idea of your needs and requirements; and where you spend most of your money. Check out America's Best Bookkeepers

After you have created your cash flow plan, you should be able to identify the financing required to continue running your business properly; this can be the stock’s financing, just like the re-negotiation of a loan to alleviate its debt. Knowing this, you can more easily refocus your efforts, and you can quantify your need in monetary terms.

Talk with Your Banker

It is important to negotiate directly with your banker.  Bankers will offer you a professional overdraft authorization or a short-term loan and guide you on situations that can disturb you otherwise.

It should also be noted that it is better not to wait until the last moment to inform the banker of the situation, but rather to inform him as soon as you feel the wind turn to your disadvantage and that you are starting to run out of money. Also, some banks now have their factoring subsidiaries. You can, therefore, use factoring to recover money on hold due to unpaid invoices quickly. Check out America's Best Bookkeepers

Consulting a banker means you are seeking expert advice on matters you can’t handle. These people are better at giving you ideas and keeping you aligned with your goals. They will give you a solution to your problems better than anyone and keep your best interest at the forefront of their suggestions.

Negotiate

Another viable option is to negotiate directly with customers to pay in advance. You can then offer them a discount in exchange for their advance. Conversely, do not hesitate to relaunch customers who have late invoices. You can also negotiate directly with your suppliers to obtain an additional payment period. Of course, you can negotiate anything and everything with your customers and suppliers as long as both parties agree and you do not break any laws. The most important issue is that you are aware that you have the option to negotiate. Most people don’t realize they can take the original terms at face value and see them as unchangeable or nonnegotiable.

Conclusion

These four tips should give you the theoretical foundation to better manage your business budget. Remember that prevention is better than cure, so act as long as you still have some money and do not wait to be in the red; everything would be much more difficult in that case otherwise.

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
tour guide -Complete Controller

With the economy constantly changing, more and more people are looking into starting their own business either to use as a primary income or a side hustle. In many cases, people looking to start a business like this don’t have the capital to start it with and need to launch right away. Here are nine businesses you can start with little to no money.

House Cleaner

Being a house cleaner isn’t as easy as it is a very physical job. However, if you can handle the physical activity required, it is a job you can start doing almost immediately. You may need a little money to run ads on online classifieds such as Craigslist or other sites like it. House cleaning can pay pretty well, and you have control over how many jobs you take on, whether a regular gig or a one and done cleaning. Check out America's Best Bookkeepers

Pet Sitter

Many working people have difficulty having a pet due to the care they require. If this is the case, a person may want to hire a person to care for their pets while they are at work or out of town. A pet sitter will be responsible for feeding, walking, and giving them attention. They may also be responsible for taking them to the vet or administering medications as needed. Starting a pet sitting business will require running ads, which in some cases may cost a nominal fee.

Running Errands

Disabled and elderly people often need help with errands. A person who runs errands may go grocery shopping, get prescriptions, or pick up other items the client may need. In some cases, they will also be asked to take the person to appointments or on errands with you. This is another job that requires running ads to start, which can be done for little to no cost.

Become an Affiliate

Affiliates will help websites and products with promotion and make money when those promotions lead to sales. You can promote products on your blog or social media platforms. You can also add links to the videos you produce. There are several ways you can promote the products, services, or sites for little to no cost. Check out America's Best Bookkeepers

English or Language Teacher

If you speak another language, you can tutor or teach online courses. You can also teach English as a second language to those from other countries wanting to learn English. You can use websites to promote the business for little to no cost or set up your own site to offer services that can be done for free.

Business Page and Social Media Management

Some many businesses or individuals don’t have time to run their social media or business pages. You can offer your services to post for them, write blogs, create interesting content throughout the day, and keep all platforms and pages current. While customers or potential clients would like to interact with the owner of the account directly, you are acting on their behalf. You can run ads or post on business sites offering your services for little to no cost.

Consultant

There are different types of consultants. Most people have an area they know a lot about and can consult others to help them improve. Business consultants can help a business become more successful. A beauty consultant can help someone with makeup or clothing. The possibilities are endless, depending on what you find passion in and believe you can help people improve. Check out America's Best Bookkeepers

Tour Guide

If you live in an area that receives many tourists, you can become a tour guide. You can advertise on tour and travel sites. You can offer tours that are planned and set in schedule or offer a concierge tour that will be tailored to your clients’ desires. You can also do specialty tours such as ghost tours or other interesting hidden gems. The possibilities are as far as your imagination can take you.

Tutor

If you have an area of academics in which you are strong, you can offer to tutor. Tutoring can be done in person or online. With today’s technology, this will open up your client base. If you are strong in multiple areas, you can offer different options for students in need of help. You can also create an online course that people can take at their own pace.

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
Saving Money at Christmas - Complete Controller

The holidays have arrived. It’s time to spend time with family and friends, as well as getting everything ready for Christmas dinner. As part of these celebrations, you have likely entered into an exchange of gifts with the family, another with the office colleagues, and perhaps another with the friends. These types of commitments are sometimes unavoidable and have a significant impact on your income.

In December, many people lose control of their expenses using credit cards or lines of credit. This lack of control and overconfidence can make it very difficult to recover economic stability in January and possibly even during the first quarter of the year. Here are four tips to make saving money at Christmas possible. Check out America's Best Bookkeepers

Pay Yourself First

Many people designate a portion of their bonuses or bonds to pay debts, either from credit cards or lines of credit. However, it is recommended that you pay yourself first and reserve a portion of your bonuses to your savings. Keep in mind that setting a clear goal for the money you save will help you meet your overall financial goals, regardless of whether they are short, medium, or long-term.

Additionally, it is advisable to designate a part of your retirement savings, either as a voluntary contribution to your personal savings account or as an investment into a company retirement fund. The National Commission for the Protection and Defense of Users of Financial Services recommends allocating at least 10% of your income to savings.

Remember There is Life Beyond Christmas

Many people use credit cards and lines of credit to purchase presents at Christmas. Many reports take the entire first quarter of the year to recover from Christmas spending. Some go beyond due to unforeseen financial issues that prevent payments and expand the debt. If you plan on spending a lot at Christmas, you should plan to save with a Christmas savings account instead of using your credit card or obtaining a credit line with fees and interest. Check out America's Best Bookkeepers

You have to keep in mind that after Christmas, you will still have bills and responsibilities. If you can’t afford to purchase gifts without putting yourself in debt, you and your family may need to reassess how you do Christmas. You must think beyond the holiday and know the best gift you can give yourself and your family is financial stability and a look forward to financial independence. By staying within your means at Christmas, you will not only stay out of debt, but you will also be able to put money into your savings account.

Be a Thrifty Shopper

While it is understandable that many believe in and promote Santa Claus in their households, you can still control spending and get your kids what they want for Christmas. One thing is that if you want to provide the magic of Christmas but not over commit to what Santa brings, you can let your kids ask Santa for one gift and then ask them for a list of things they want that they may or may not get.

Once you have limited the Santa gift to one gift and receive the desires of your little one’s hearts, you need to shop intelligently. There are several ways you can do this while still giving your family a great Christmas. You can do comparison shopping, find coupons, or look for second-hand items on any of the many apps that both buyers and sellers use to share items for sale second hand. You can also hit up estate and yard sales. Shopping can be fun and rewarding if you look for the deals and ways to give without doing it until it hurts you financially. Check out America's Best Bookkeepers

You Can Buy on Credit

Almost everyone who has a credit card will use them for Christmas shopping. You should be encouraged to use them, but do so as sparingly as possible, and don’t max them out if you can’t pay them back within a billing cycle or two. Remember, you are making purchases on credit without knowing what the next few months hold for you financially. Purchasing anything on credit that expands your spending outside your means is a risk.

The bottom line is, you can buy on credit but keep it within reach even if you should hit financially difficult times. Understand that your credit card or line of credit may be needed for an emergency expense if you don’t have a savings account, so you should leave room on it for those unforeseen possibilities.

Conclusion

We all want to spoil our kids and loved ones at Christmas, but the most loving thing you can do for them is to provide a financially stable and debt-free future. If you are smart and use these tips to find money-saving ways to celebrate Christmas, you and your loved ones can relax and enjoy the season without unsurmountable debt hanging over your heads.

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 More Money - Complete Controller

Prioritizing saving money has been engrained into our minds since we were young. We may even recall the saying, “A penny saved is a penny earned!” However, earning and saving that penny has proven to be a much harder task than we once thought. Life is expensive! Speaking honestly, there are several places where the money we earn gets wasted, but that doesn’t mean you can’t develop money saving practices that really add up.  The following are some creative ways to save money; you won’t even realize you’re doing it! Check out America's Best Bookkeepers

  1. Dump all loose coins every night

All that loose change weighing your pocket or purse down at the end of the day? Get into the habit of routinely emptying them out into a container or drawer by your bed. The key is to try to save this accumulation of change for as long as possible, then cash it in. Pro tip: if you go to the bank, you can get rolling paper and roll the coins yourself for an even bigger payout. It can even serve as a fun activity for the whole family and instill the principle of saving every penny in your young ones.

  1. Pay your debts, but when you finish, keep paying the bill

Paying that car bill every month can be both daunting and satisfying at the same time. On the one hand, you may struggle to come up with the money and may wonder how you’ll ever pay the bill. But, once it is paid, you feel a sense of accomplishment and pride. Don’t stop there! Once your bill is paid, immediately start working on the next payment. Planning your bills out in advance should help relieve the check-to-check lifestyle that many of us are familiar with. Check out America's Best Bookkeepers

  1. Save at least 70% of the unexpected money you receive

An extra pay, bonus, a return on the income statement, or any amount of money that you did not expect and that you received can be an extremely exciting reward. However, don’t immediately switch into “treat yourself mode.” Try getting into the habit of saving at least 70% of that money.  Make an emergency fund if you do not already have it or pass it to your savings or investment account directly.

  1. Automate savings

It is not a creative way to save, but it has been proven to be useful in eliminating the need for willpower. Allocate a certain amount or percentage of your income to be passed over to a savings account and automate it. This takes away the temptation to spend your entire paycheck and encourages healthy spending/saving habits. You may even want to consider investing that money in a low-cost index fund.

  1. Make saving a game

While this game can be fun and educational to teach you how to save a child, the truth is that for an adult, it can also be fun, tempting, and profitable. Check out America's Best Bookkeepers

Put today 1 cent in a jar (yes, that little coin that looks like a button on the shirt). Tomorrow put 5 cents. On the third day, put 10 cents, 20 cents the next day, and so on. If you continue doing this throughout the year,  you should be saving more than $20 in a single day. That comes out to more than $3,000 by the end of the year!  

  1. If you like to play, save playing

Although we do not recommend wasting time playing video games, you might as well profit financially if you’re going to play. Long Game and other applications offer real rewards for playing short online games. Use it as an additional way to save for your expenses. You are doing something you fun while also earning!

Now that you have a list of fun ways to save money, make sure you make it a habit. Not only will you be living a more disciplined and healthy lifestyle, but you will also be surprised at how much you actually earn!

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
Why Save Money - Complete Controller

When you talk about enhancing your financial health and building wealth, saving money for a better future can be your best option. However, to save money, you have to set a budget and identify your financial goals. You also have to recognize where you can cut spending as needed to help you reach your savings objectives.

Though saving money is important many financially responsible people either don’t have one, or if they do have money saved, it is underfunded. While it is understandable that the financial needs and goals are different from person to person, it is universal that all need a healthy savings account. If you still aren’t convinced, here are six reasons you should save money. Check out America's Best Bookkeepers

Saving Money Creates Financial Independence

Financial independence is something that every person wants. Being dependent on assistance, whether it be from other people, loans, or government assistance, can make a person feel like they can’t get ahead. This dependence can stifle personal financial growth because true growth only comes when you are financially stable and have a plan.

Saving money is the most direct way to gain financial freedom and independence from others, including employers. If you have money saved, you won’t have to be worried if something happens to your job or your income isn’t quite what you need to make ends meet for one reason or another. Check out America's Best Bookkeepers

Saving Money Means Less Stress

Saving money leading to less stress may sound like an oxymoron because building a savings account takes focus and hard work, but in reality, it less stressful for many reasons. It can reduce stress by giving you padding for unexpected emergencies. Emergencies that cost money aren’t generally built into your budget; therefore, if you have money saved, you won’t have any stress because you will have the funds to cover what you need.

It can also mean less stress if you lose your job or need to take an extended amount of time off. Though there is coverage through unemployment or the Federal Medical Leave Act if you need to take time off for medical reasons, those are case by case situations and not a guarantee. If you have money saved to cover your income for a few months, you will not feel stress if you lose your job or need to take unpaid time off.

Saving Money for Big Purchases

Many people want to buy a home or car or both. While you can get a loan and make payments when purchasing a car, if you can pay cash for the car, it will be ideal and save you hundreds in interest payments. When purchasing a home, even if you can’t save to buy it outright, the more you can put as a down payment, the lower the mortgage payments will be. It can also help you get a lower interest rate, which is where the most cost comes from when it comes to making major purchases through loans. You can also save for a family vacation and other major purchases that come up if you have a healthy savings account. Check out America's Best Bookkeepers

Saving Money for Retirement

When you are young or even middle-aged, it isn’t easy to think about reaching retirement age as it seems so far away. The truth is, when it comes to the amount of money you need to save to live out your golden years, the more you can add to that, the better. It has been estimated that social security support will be unable to cover seniors within the not too distant future. If you have healthy savings for your retirement, you won’t be dependent on any government income. In some cases, you can even retire earlier if you can build a large enough retirement savings account.

Saving Money for a Good Opportunity

Good opportunities often come once in a lifetime. By accumulating a savings account, you will have the capacity to invest in opportunities. For example, if someone comes to you with a business proposal and offers you a chance to invest, you will have the money readily available if you find it to be something you want to invest in. You can also create your opportunities where others who have no savings cannot.

Save Money for Higher Education

While you may have already gotten a higher education, your children may have high hopes to go to college. Though they can get scholarships, student loans, or work their way through college, ideally, you would help them financially by having money saved. This way, if they don’t get a scholarship, you can pay for their education and allow them to have a stress-free college experience.

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