What comes to mind when I say ...
Is it images of wealth and old money that you only see in movies? Well, that's not what we're discussing here in today's contributed post.
Nope. Today, we're talking about how you can take your family money (the money you're earning right now) and build on it.
You work hard for the well-being of your family and earn a decent wage.
But, it doesn't have to stop there.
In fact, you may be able to increase your wealth substantially.
By putting your family's money to work in the following ways. Read more
How much money are you saving for retirement?
Yes, that's the age old personal finance and money question if there ever was one. We all want to be given "the number" to shoot for and desire to know how close (or how far) we are to that target.
If you're like my wife and I, you wonder whether you are doing it right or not. You are constantly discussing money matters over dinner or during a long car ride.
Maybe you worry about how you will be able to afford your own home. If you do own a home, you may worry about having enough money for the mortgage each month.
Then, there's saving for children. You need clothes, food, diapers, toys, and who knows what else. One day, you will want to send them to college. So, there is saving for that.
Finally, you probably don't want to work for the rest of your life. I know I don't. So, you need to plan for retirement somehow. However, that seems so far off and you just put off doing anything about it.
So, depending on your situation, you are likely asking yourself one of two questions. If you aren't saving, you will want to know how you can get started. On the other hand, if you are saving, you will want to know if you're saving enough.
In order to answer those questions, you have to know your goals and understand the process to achieve them. You also have to make sure you are budgeting properly by using an app like Personal Capital and know your numbers.
Saving money is not a one-size fits all concept. Sure, there are guidelines and we will discuss some of those. But, you need to customize these guidelines to fit your lifestyle and your family's end game.Read more
Your business may be breaking the law without realizing it.
It's true. Businesses break the law unknowingly and the results can be devastating.
So, if you're a business owner, you must check out this business law guide we put together with one of our contributors.
After all, having a business comes with a lot of legal issues that you never had to deal with before. The whole thing can get a bit confusing but it’s part of the job so you’ve just got to get on with it.
Hopefully, you aren’t going to be breaking any laws on purpose but when you’re trying to learn all of these new rules and regulations, it’s easy to make mistakes.
In fact, it’s far easier than you think to accidentally break the law when you’re a business owner and the authorities won’t have any sympathy for you if you do.
Also, you'll learn crucial business law topics along with the most common ways that businesses break the law accidentally.
First of all, I also want to stress what I mention in the disclaimer above every post: I am not a lawyer!
Please, please, please get legal advice before acting on the information below on business law. It's a tricky and confusing subject and it's best to get professional assistance in dealing with these complex matters. We're just doing an overview here.Read more
Think about this:
Where would you be now financially if you never made a mistake with your money?
Would you be financially free?
Could you leave your job?
Would you have a better life without debt?
In today's contributed post, we're going to explore common money mistakes to avoid this year and beyond. Think about the impact avoiding money mistakes earlier in life can do for you in the long-term.
Then, we're going to show you a few ways you can prevent further money mistakes in the future.
If you're the type of person who likes to plan ahead, this post is for you.
Let's get to it.Read more
People that pay off debt do two things very well:
First, they create a budget to understand where their money is going.
Second, they find ways to make money or increase their income to pay off debt faster.
If you need to learn how to make money and pay off debt this year, you've come to the right place.
Let's face it:
Things are hard once you reach adulthood.
You're trying to build a life for yourself and family. It's not as easy as we think.
Lay offs happen. Incomes don't always rise. Expenses just keep piling up.
And, for many, those darn student loan bills never go away.
If you keep wondering how you're going to pay off debt with no money or with a low income, you're in luck. Today, we're going to show you not only how to get rid of the debt, but budget your money for the long-term.
Then, we're going to also help you realize your ability to make more money to pay off debt, save, and live the life you want for your family. Sound like a plan?
Let's start paying off debt and making some more money then. Shall we?Read more
We all want a way to bring in more money. These days, many people turn to side businesses to make money and the same goes for yours truly. In today's contributed post, you'll learn the 3 best side businesses to make money this year and beyond.
Many people in the US are struggling on a low income from their jobs and have to find other ways of making more money to financially survive. Although the unemployment figures are better than they have been for a long time, many of the jobs are in the lower paid sectors, and those already working have not had the pay increases they would normally expect. On average, pay increased by just 5 cents an hour, which is only noticeable once the IRS has had their share.
This has resulted in more than 7.5 million Americans holding down more than one job. Even high numbers of the population have side-hustles to help them financially. In fact, it is said that more than 44 million people in the US earn extra money this way.Read more
Do you want to learn how to make money? I'm not just talking about from your job. I'm talking about a side business or side hustle.
You can make money doing these things online, from home, and even with an injury or disability. After all, it's tough out there. We all need ways to bring in more income and we want to know how to make money fast.
Consider Steve Chou from My Wife Quit Her Job. He and his wife, Jennifer, started a few online businesses generating six figures. There first was an online store.
This was all centered around Steve's desire to learn how to make money (and more of it) to support their lifestyle so his wife could stay at home with their children. She was making six figures from her and losing that would be quite the blow.
In all honesty, that is part of the reason I started this blog. I wanted to allow my wife to stay at home with our son (and now daughter as well). It wasn't a decision we took lightly, but learning ways to make more money online has helped ease the financial pressure significantly.
We explore how to make money online (and offline) today based on research of my own and contributions from others. I hope you enjoy it and let us know if you have any questions.
If you run your own small business, you probably understand that the customers are not the only thing that keeps you going. You may have plenty of money coming into your business, but until you know how to manage your funds, you’ll never have a truly secure operation.
Money management is especially important when your operation is small, because the margin for profit is probably not as favorable as a big business. Here are a few helpful tips to get your business on the right track when it comes to managing money.
Get a qualified bookkeeper
Hiring a bookkeeper for your business is an excellent investment. With a trained and certified public accountant, you won’t have to worry about managing your payroll, tax preparations, accounts payable, accounts receivable, and much more.
It’s worth the investment to get a few extra winks at night, not worrying about your organization’s finances. CPAs are also qualified to help your business in legal matters regarding your money as well.
Create a cash flow budget
Creating a cash flow budget for your business will help to ensure that you know where your organization’s money is going, and where it is coming from. Managing your finances proactively will make it easier to keep your business running.
A few of the most common components included in a well-rounded cash flow budget are accounts receivable, cost of goods, debt repayments, and operating expenses. Research more ways to create a functional budget for your business, and get to work today.
Don’t mix personal and business finances
Never mix the business finances with your personal finances. Mixing the two blurs boundaries for yourself and those with whom you work. Don’t put your personal life at risk for the organization.
Design separate business and personal budget outlines, so business loans don’t get used for personal payments and vice versa. Your CPA will thank you when it comes time to sort finances for tax purposes.
Always negotiate with vendors before signing a contract
Never take a vendors offer at face value. Vendors are accustomed to bargaining with clients, so don’t just settle for the first offer thrown on the table.
Examine terms like late payment penalties and grace periods for making key decisions. Try to dig for a better bargain. The worst they can do is say no.
Make frugality the standard for your business
Frugality should be the standard for all you do with your business. There is a distinct difference between cheap and frugal. Cheap suggests low quality.
Frugal suggests being careful with your spending. Make wise and conservative decisions with your products and operating services on a daily basis in the interest of saving as much money as possible.
There are countless frivolous lawsuits filed against big businesses every year, and most of them are thrown out of court. There are, however, those insane cases that make the news and make our minds go loopy.
Lawsuits against big businesses began gaining popularity in the 1990s. It all began when an elderly woman was awarded nearly $3 million for being burned after she spilled a hot cup of McDonald’s coffee in her lap.
Since then, there have been numerous silly stories to tell concerning lawsuits against some of the world’s most dominating big businesses. Here are a few of those crazy big business lawsuits that are worth noting.
Excuse me, there’s a finger in my chili
Wendy’s suffered a lawsuit from a woman named Anna Ayala. She sued the fast food chain, saying that she found a 1.5-inch tip of a finger in her chili. She even took the story to the press.
When the local authorities began investigating where the random finger originated, the woman quickly dropped her lawsuit.
It was clear that she was up to no good and had most likely planted the finger herself. Talk about a personal injury lawsuit at its finest. This 2005 case set the tone for even more frivolous attempts to strike it rich.
Hey that’s my water bottle idea
A few years later, two Wisconsin men sued Pepsi for allegedly ripping off their idea for a water bottle design. The men claimed that in 1981 they had told someone about the idea, and fifteen years later, the Aquafina water bottle was released.
They sued PepsiCo, asking for a mere $75,000. The judge ended up granting them a $1.26 billion default judgment, but later allowed Pepsi to have the decision vacated. Due to “misplaced” paperwork, the case will have to be tried again.
Stress from work made me rob that store
A man robbed a gas station with a sawed off shotgun one night, and went to prison on a ten-year sentence. While in prison, he sued his former employer, the Department of Public Aid in Illinois.
The man contended to the court that the stress he suffered under the rule of his tyrannical boss caused him to rob the gas station. In the end, he was awarded nearly $6 million total in damages, back pay, and front pay.
Your beer does not make the ladies love me
Anheuser-Busch was sued by a man for emotional distress and financial disparity, because their beer did not bring him the success advertised in their beer commercials. In 1991, Richard Overton was asking for $10,000 to cushion his burdens.
Sadly, his case was dismissed in court.
What is your "why"?
If you've encountered any self-help book, guru, or Instagram page in the last decade, you've likely come across this question. We're obsessed with the concept of "why" we do things particularly as they relate to our so-called "passion."
The "why" is the reason -- the essence -- behind our motivation for doing the right things on a daily basis. Yet, have we ever really thought about what our "why" says about us.
Think about -- why do you really get up in the morning? Is it because you can't wait to jump out of bed, have your feet hit the floor, and start another fantastic day?
Or is it more because it's your routine, you have to fight traffic, you have a family to support, and you need to make money? Oh yeah, and the only way to make said money is to pump out another 50,000 TPS reports today?
Your "why" needs to be so much more than a cliche if you ever hope to get out that day-to-day drudgery. The last thing you want to do is become numb to it and descend into the pit of "whatever." That's a life sentence chained to a desk from 9-to-5 you will never escape from!
What are we to do? Well, take a look at how I've reworked my life to more closely align with my "why." It will take effort on your part, but it's definitely something you can work towards every day.Read more