When we lack money it creates a lot of stress and anxiety, and can be a source of tension in relationships. But how can we make our money work for us? Here are several ways we can take more control of our money to reduce our stresses: Change your thoughts: Reframe the way you think […]
Expenses
Bad Credit Card Policy?
Some business owners are penny wise and pound foolish with their credit and debit card policies. Even worse some do not even accept credit cards. Here is why you should review your credit card policies: Higher Purchase Amounts: Statistics show that when consumers use a credit or debit card it increases the amount of their […]
Are Children Really That Expensive?
Virtually every financial article regarding children makes you think that you will go broke if you have children. Between childcare, housing, food, diapers, vacations, clothing, activities, and especially college, they make it seem that you can’t afford to even think about children. The truth is that raising children is as expensive as you make it. […]
(Don’t) Fake it ‘Til You Make It’
Fake it until you make it! I heard this expression recently and many times in the past, but this time it made me cringe. Some might feel that there’s nothing wrong with showing people how successful and smart you are when you’re not really there yet. Here’s the problem and what to do instead: It’s […]
Struggling Business Fail to Spend Money on These 3 Things
There are characteristics of successful business and also for struggling businesses. It is almost as if they do the exact opposite of each other. Three areas that struggling business owners tend to ignore because they see them as costs instead of improvements to support and grow their business are technology, people, and infrastructure/equipment. Let’s take […]
You’re Not Too Sophisticated for Cash
It seems as though nobody uses cash anymore, but why should you? Smart people use credit cards and pay the bill at the end of the month so they can earn points, build credit, and have additional time to pay for their purchases, also known as “float.” But is it really that smart to use […]
How a 10% Productivity Increase Can Increase Profits by 35%
A simple way to increase the profits of a business is to increase employee productivity. Each business and industry is unique, and here are several simplified illustrations to show the impact. The assumption is that if productivity increases by 10%, then sales will also increase by 10% due to extra capacity as long as there […]
6 Ways to Cut One of Your Largest Expenses – The Grocery Bill
I’ve had a conversation about the grocery bill with several clients recently and thought it would be helpful to share some ideas to both save time and money while shopping for groceries. As most of you know, we have quite a few mouths to feed! Unless you eat out every single meal, then this article […]
Don’t Be a Co-Signer Unless You Want to Pay Someone Else’s Debts
Your friend, child, brother, or parent can’t get a mortgage or a car loan so they ask you to be a co-signer. Of course you will be a hero and co-sign for your loved one! But beware of the dangers before doing so. In reality, the lender is assuming that the odds are fairly high […]
Getting More from QuickBooks
The most popular small business accounting software by far is QuickBooks. It can be easy to use, is very affordable, and can help you to run your business better. Unfortunately, QuickBooks is quite often not used to its potential. Here are some things you should be doing with QuickBooks: Running Financial Reports: To know how […]