Posts

Savings - Complete Controller

Every financial advisor or guru will say the word savings more than any other English language. The reason is that savings are important for financial freedom. Still, it is crucial to your future, and in case disaster strikes such as job loss, a broken-down vehicle, or an unforeseen medical expense. If you are not saving now, you need to start immediately. You don’t have to start with large and unreasonable amounts of money. It would be best if you eased into savings until you get used to being without the income in your personal operating costs and increase as you can. Check out America's Best Bookkeepers

You can do some things to increase savings may seem like they are obvious, and they are, but regardless of this, many don’t do them. An astounding amount of adults with great incomes fail to save any of it even though to do so would be simple. So for those that are not saving or saving enough, here are five ways you can start working towards financial freedom through some savvy savings ideas.

Retirement Fund

An amazing number of those saving nothing at all work for a company with at least one retirement fund, if not multiple retirement funds or other types of savings plans. The best thing about all of them is that they take it out of your paycheck before receiving it, so you don’t even miss it and are forced to adjust your budget around your adjusted income without it. If you are not contributing to your company offered a retirement fund, you should immediately make an appointment with the appropriate department to rectify this mistake.

If you are unsure how much to contribute, there are a few ways to decide. If your company will match up to a certain percentage, contribute at least that percentage; that match is free money. If they don’t offer a savings match, figure out the minimum you can live on from your income with some padding and contribute whatever percentage or fixed amount you have remaining. The truth is, you are not saving now, so any amount will be a vast improvement over zero. Check out America's Best Bookkeepers

Cut Expenses

Many people shy away from cutting expenses because, in this instant gratification, the high-consumption world we live in today, we often fulfill every desire of our heart when it comes to spending. In some cases, people spend outside their means for this fact. Now is the time for you to take yourself out of the race against the Joneses and create a budget so you can identify all your expenses, specifically the ones you can cut out.

It is not suggested you have no fun and don’t enjoy your life or hard-earned money. Rather, what is being suggested is that you don’t do so over having healthy savings. To do this, you need to create the dreaded budget, cut as many expenses as you can live without, and reallocate that money to debts first, then savings. If you have set up automatic savings account payments from your paycheck or other income with your banking institution, much like your savings at work, you won’t miss it and will adjust your budget around the new income without it.

Investments

Outside of the investments that would be made on your behalf through your retirement fund, you should participate in some level of personal investing. If you are a novice or don’t have a lot to invest, you should hire and consult a professional financial advisor or investment manager. This professional can help evaluate your risk tolerance and limits and make investments on your behalf accordingly. It is not to say you cannot or should not strike out on your own. However, unless you are knowledgeable in the intricacies of good investing, leave it to a pro. Check out America's Best Bookkeepers

Eradicate Debt

The easiest way to have income that can be put into your savings is to become debt-free. This freedom is not just beneficial to your savings account, but it is an accomplishment that can help you make big purchases such as a home or vehicle. Working towards eliminating debt and achieving it should be followed up with putting your new surplus into savings and then never allowing yourself to go into bad debt again. Getting into a mortgage or using credit to purchase a new vehicle is a good debt to carry as long as you pay it down as quickly as possible.

Savings Account(s)

There are many savings account types, some of which are lower in interest gains and lower risk. Others are investment savings accounts, which carry some risks but have higher interest payoffs. To decide what kind of savings account(s) to have, you should research the options, evaluate the risks or hire a professional financial advisor to help you decide best for you and your financial freedom.

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
Increase Your Savings - Complete Controller

A surprising amount of working Americans have little to no savings, nor do they have a working budget. There are multiple reasons savings and budgeting take a backseat when it comes to household finances. These reasons include living paycheck to paycheck, spending more than your means, the time it takes to make and keep a budget, and worry that they will have to give up their lifestyle to save, to name a few. The truth is making a budget and saving is easier than people think, and there are some things that people can do to decrease expenses and increase savings. Here are five easy ways to increase your savings that you won’t even feel. Check out America's Best Bookkeepers

Make a Budget

Making a household budget is not as challenging as most people think it is. Gather all your expenses and sources of income and use a spreadsheet or even a calendar or planner and input the amounts in categories that make sense to you. Some free online budget templates will help make this process simple. The vital part of the budget is that you add savings to your expenses and make it your most crucial expense. Financial planners and advisors agree that if you pay yourself first by making savings a priority, all other financial responsibilities will benefit because you will be more thoughtful about spending. Check out America's Best Bookkeepers

Make it a Habit

Saving money is just as much a psychological endeavor as a physical one. Most don’t save because they think it is too difficult or that they don’t make enough money to spare some of it to save. The truth is no matter the amount you save, just doing it regularly, even if a few dollars, will build a savings habit. As you find more places in your budget where you can spend less, you will already have a savings habit and grow the amount you have saved more quickly.

Make it Automatic

Most banking institutions not only have savings accounts, some that even gain interest. They also can directly deposit a portion of your paycheck directly into the account. Setting up a direct deposit and allocating a certain amount to be deposited into your savings account each payday does a few things to boost your savings. It helps with the psychology of saving because the amount is not in your main account of disposable income, and often people don’t miss it and budget accordingly. It also sets a certain amount of savings that is consistent and can add up quickly. Check out America's Best Bookkeepers

Seek Extra Income

When you are working on your budget, you must find places you can cut spending and put 100% of that money into your savings. If you cut out some unnecessary expenses, you might be surprised how fast your savings grows when you transfer those funds into your savings account. When considering your budget and savings, you may also want to consider earning more income through side gigs or other income streams such as investments. It is easier to find side work in our gig economy that doesn’t take too much of your time and can generate enough income to build your savings fast.

Use Company Benefits

Most people who work for corporations are aware of company savings plans like a 401(k). Generally, it is talked about in your orientation. Still, employees often don’t understand exactly how it works or what contributing to company savings and retirement plans can achieve their savings goals. A significant amount of the companies that have a 401(k) also have a matching program. When deciding on what percentage of your income to contribute, consider contributing the percentage your company will match. If your company matches up to say 10%, you should be contributing at least 10% of your income. You can, of course, contribute as much as you can afford. Remember, however, you won’t have easy access to the savings with this type of account, and when you do pull money out since it is not taxed going into the 401(k), it will be taxed upon withdrawal.

Conclusion

Budgeting and having savings are the most crucial part of your financial health and future. Using these five easy ways to increase your savings will have your savings account fat 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
Financial Independence - Complete Controller

Financial independence, two words that every responsible adult wants to hear, but what is financial independence? It is the financial goal you achieve when you have zero debt, savings for emergencies and retirement, and aren’t living paycheck to paycheck. It can also include some great major purchases like a house, car, or boat. To be financially independent should be everyone’s goal, with no exceptions.

Most people give up on the dream of financial independence, thinking it is difficult to achieve. Still, the truth is there are steps you take that are immediately actionable and can greatly impact your financial status. Here are three easy steps that will get you to financial freedom that you can apply today! Check out America's Best Bookkeepers

Get Control of Your Money

Often, a person cannot get out of debt or have financial independence due to the loss of control over their money. This loss of control can happen when debt is taken on that is hard to overcome. These debts include high interest or payday loans, maxed out credit cards, or other loans or credit lines that have you in a hole you can’t climb out of even with making payments.

Suppose you can’t afford a financial planner or credit fixer, which is often the case when deep in debt. You can take control without professional help. First, work at consolidating your debt if you can. Find the lowest interest loan or obtain a low-interest loan if possible to cover all your debt and use it to pay off all your cards and higher-interest loans. This action will consolidate all your debt into one payment with a lower interest rate. If you cannot obtain a loan or don’t have room on a lower interest credit card to charge off higher interest debts, start by paying off two things right away. First, any high-interest loans or credit cards, and second the smallest debt you have. Doing these two things will help you gain control of your finances quickly.

Once you gain control, it is vital that you get rid of credit cards and don’t take on any new loans. Once you get control and get out of debt, don’t allow yourself to get there again. Check out America's Best Bookkeepers

Cut Spending

Besides getting out of debt, trimming the fat in your spending is an immediately actionable way to get to financial independence. First, you have to look at your finances and truly analyze it. You don’t have to do away with every luxury you spend on. Luxuries are anything outside of necessities. Luxuries can include everything from big-ticket items like a new TV to something small like impulse buys when you go grocery shopping. Cutting spending or trimming fat can be much like a diet. If you are not keeping track of what you are eating, how much you’re eating, or the quality of the food you’re eating, you will not be successful with your diet. In a budget, you need to write down everything you spend your money on and prioritize it.

 

If you are single and have no other people on your budget, it can be fairly easy to determine spending. However, if you are working on a family budget, you will need to ensure all the family members account for their spending and participate in the decision on what to cut. This participation and buy-in is essential to help everyone participate in cutting spending. Check out America's Best Bookkeepers

Increase Your Income

In today’s gig economy, it is much easier to get a side hustle going. In the past, the only side gigs were selling make-up or housewares in a pyramid marketing venture. Today, there are hundreds of ways to earn extra income on the side with little to no upfront costs to you. You can make food, grocery, or package deliveries as a contractor, which gives you a great deal of flexibility in schedule and income. You can also do various freelance jobs on the side using your skills and talents to gain you more income.

Another way to increase your income is to obtain a second job. Often you can get jobs that are seasonal if you only need the second income for a limited time to pay down debt or build savings. Unlike the gig or freelance type job, this would be a regular job schedule and income. You can also ask for a raise or go for a promotion. These extra boosts in your income can help you work through debt more quickly or build a great savings that can be used for emergencies, large purchases or down payments, or retirement.

Conclusion

Financial independence should be a goal for every financially responsible adult. Many think it is hard to achieve, and either don’t try or give up if they do try. There are many ways to gain financial independence, but these three easy steps are quick ways you can get on the road to financial independence today!

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
Boost Savings - Complete Controller

Every responsible adult should have savings in their budget, but the truth is most people don’t have anything saved, nor do they budget. There is a psychology to budgeting and finances that has people worried they would have to give up a lot or make significant changes in their lifestyle to stay out of debt and go further in the budget to save. Most hard-working adults live paycheck to paycheck with no safety net and don’t think there is anything they can do to change that without giving up what they are working hard to do.  Check out America's Best Bookkeepers

Making a budget is just the beginning. There are many areas where you can make changes or try new ideas that will boost savings without having to live a boring life with no fun or luxury. Here are three quick and easy ways you can boost savings without giving up much if anything at all.

Rework Your Bills

Many people don’t realize they can renegotiate some of their bills. Even utilities. What? Yes, you can negotiate almost everything. Call your utility companies and see about paying a fixed amount usually taken from an average of past bills for that address. If you overpay the actual bills by the end of the year, you get money back, or if you used more than expected, you might have to pay the overage at the end of the year. If you are diligent about keeping it within this fixed amount, this can save you big! If you are a good driver, you can get insurance companies into a bidding war to get your business. They want customers paying in premiums that are low risk ever to make a claim. They will make excellent offers to get you. You can also call your cable company and ask for the deals they are offering new customers. If they say they won’t give that to you, their loyal customer, let them know you will go to another company. You can do the same thing with your phone carrier, find out what offers they have and negotiate them yourself. Check out America's Best Bookkeepers

The bottom line is, you should try reworking all of your bills, getting better interest rates after you have been paying on time for a period, or getting fixed payments. The most that any company you are trying to negotiate with can say is no, but maybe they will help you save money.

Better Banking

Your banking institution will generally offer you bank accounts that will cost them nothing. Do your research and make sure you look into every type of bank account provided. Some bank accounts offer cash back for debit card usage or higher interest savings or checking accounts. Don’t settle for the plain bank account with no frills you are offered. Research and save!

The recent trend is banking institutions offering what is called a hybrid checking account. This checking account is a checking and savings account in one, and it provides a higher interest rate. This will add up, especially if you steadily deposit into this account.

Good Investments

You are thinking you barely make enough to cover bills. How can I even think about investing? There are a few ways. First, if your company offers a 401(k), contribute as much as you can. If your company matches a certain percentage, contribute that amount, so you get the most bang for your investing buck. Micro-investing is a trend that is also an easy way to invest when you don’t have a lot of wiggle room in your budget to invest. These spare change investment apps won’t make you rich or able to retire early. What they will do is give you the money you can use to pay down debt or put into more significant investments. Check out America's Best Bookkeepers

When you go for more significant investments, make sure you have paid down your debts and have an emergency fund first. Your priority should be getting out of debt and having the ability to cover emergencies and loss of income, then investments.

Conclusion

The truth is any changes, large or small, can help boost savings. These three ideas are simple and don’t cost you in major changes to your lifestyle or spending. Try them out, and when you see how easy it is, you can get bolder, and before you know it, you will have a great retirement nest egg.

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
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
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.

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
Love Saving - Complete Controller

Some people are born rich, while others have to save. People save for several reasons; this could range from getting your favorite car to investing in your passion.

From short to long term financial goals, savings can help you decide the milestones and benchmarks. But here is the thing, some people are born “savers,” while others are spendthrift by nature. They love spending money and cannot stop. Whether it’s to uplift their mood or indulge in impulsive shopping- they can’t stop wasting. It’s because of a generous nature that they end up getting stuck in a financial mess. If you are one of them, don’t worry, we have you covered. Check out America's Best Bookkeepers

 

Being financially responsible is not that hard. Saving money is something that can easily be taught; all one needs is motivation and determination. One might face a difficult time becoming a saver because he or she doesn’t know the joy that comes along. Here are some reasons why you should love savings. Read on to become a motivated saver.

 

Saving Money Reduces Stress

Savings reduce stress in many ways. Having money to save usually means that you are on top of your financial game. People who are unorganized with personal finances are reported to have poor mental health. A research conducted by Northwestern and Michigan Universities indicates that those who experience “negative wealth shock” have a 50% higher mortality rate. Negative wealth shock means a 75% loss in net household finance.  The mortality rate is related to increased stress, depression, and substance abuse. Savings can help you reduce this stress by acting as a buffer in a negative wealth shock.

 

The money you save can help you get back on your feet, just in case rainy days arrive. This could include anything from losing a job to getting an unexpected health condition. If you don’t have money tucked away safely somewhere for bad times, you’ll keep stressing about it. Check out America's Best Bookkeepers

 

Saving Money Gives You Freedom

 

This might sound ironic, but as much as savings restrict you from being extravagant, it also offers you the freedom to spend. Most people look at savings as a demon who prevents them from spending on things that make them happy, like going out shopping or treating yourself with an extravagant dinner.

 

Let’s break this notion down into a more understandable phenomenon. Savings can only happen when you have a budget. You pack your finances in a budget and stockpile a chunk of it in savings. Having a predetermined ratio in place that is securely saved gives you the freedom to spend the rest of it.

 

Moreover, saving personal finances gives you the freedom to plan your life and do things that you cannot imagine doing otherwise. You can save for the trip that you always wanted or retire early to pursue something you want. Perhaps, you want to give your life a fresh start and start your own business. Savings can help you do all that because, with money in your pocket, you can do whatever you want. Check out America's Best Bookkeepers

 

Saving Money Can Make You Rich

As fetched as it sounds, we have some real-life examples of people who got rich by saving money. The past generation became rich only by consistently saving their money. But for people like us, this might be the hardest way out.

 

Saving money can lead to investment, and wise investment can make you rich. This is the most straightforward equation that many of us still don’t understand. If you are not sure about your investment, don’t get your money in trouble.

 

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