Author: Complete Controller

We have had some exposure to the area of augmented reality. The layering of computer-made content over real-world environments is nothing brand new. Yet the augmented reality for business made technology from an innovative entertainment concept a critical enterprise tool. Overall, 23 million jobs globally can be directly impacted by VR and AR by the end of 2030. Eight hundred twenty-four thousand jobs recently utilized these methodologies in their offices.

What Exactly is Augmented Reality?

You may already know that augmented reality lets you aim your smartphone camera at an object in a building or landscape, and other components appear in your real-time scenario.

It is made possible through AR’s power to layer digital information in some form on the real-world view we observe. It efficiently enhances and augments our experiences of the world all over the globe.

Augmented reality content can appear in graphics, audio, text, and other virtual advancements integrated with real-world objects. But how could we condense such advancement of reality? Microsoft’s Holo lens headphones have been a noticeable tool in the AR landscape. Observing this, consider that AR is an adaptable technology that is just merely carried by headphone devices.

Indeed, smart devices such as tablets and phones are much more common carriers of augmented reality technology. AR can be experienced at the scale on hand-held devices such as magic mirrors, intelligent displays, phones, and projection mapping experiences.

The ubiquity of mobile devices, shared with the speed at which habiliment AR devices are introduced into the market, suggests that the AR market is dignified to take off. But in what way? The evolving use of AR in business has variated companies’ approaches to operating and the AR developers’ tools, applications, and platforms.

How is Augmented Reality Used in Business?

Augment reality efficiently hazes the lines between the digital and physical worlds. It proposes a different approach to connecting with colleagues, prospects, customers, and suppliers. So far, AR has established significant market potential, and it is just at the beginning stage of unlocking its true abilities.

Suppose for a second that you are shopping for a jumper, a holiday destination, or a new coffee table; you probably find yourself online flipping by physical stores or magazines. Now, rethink your shopping experience in the comfort of your home in an immersive manner. Smartphone applications contain the volume to show you exactly how that new coffee table will appear, look in real-time, and scale.

Businesses always try to enhance user experience, and clients welcome new, exciting, efficient trends. Hence, there is room for augmented reality technology in our immensely consumption-led lives. From a business position, AR offers much more than improving customer experience.

For those businesses using AR, how has it done so, and below what applications have AR business enhanced efficiencies, enhanced marketing, business performance, and boosted sales? AR has sustained its value as a crucial business tool from training, recruitment, and communication to product marketing, development, and maintenance.

Recruitment and Training

In 2017, people management conducted research and reported that the growth of immersive technologies in development and learning determined that AR and AR will be the future. After three years, we can guarantee that the use of AR has spread beyond training staff remotely.

Those days are gone from sifting by reumes and creating company-changing choices based on what an applicant thinks you want to hear. Modern companies are choosing new AR and VR technologies to improve efficiencies.

For instance, an organization known as Mesmerise provides an AR and VR platform for workers to start training programs. For example, mesmerize made a simulation for some commercial training engineers working at height.

Product Development

Augmented reality enhances user experience and assists in training a more skilled workforce and product development. By PwP, all markets could greatly help by using AR to streamline services and products.

Digital visualization makes it possible to identify workflows and processes more effectively and significantly infer human association. Augmented reality can allow location-independent interactions with products by the internationally spread team and, more currently, prolonged crises like the global pandemic.

Bottom Line

With augmented reality’s worth in the market rising to $25+ billion in 2050, the future of AR is bright. This development will increase if the determined investment continues in this business domain. 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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Inspire Your Team: Effective Ways to Motivate Employees Without Money

Motivating employees without money involves leveraging intrinsic motivators such as recognition, growth opportunities, and a positive work culture to inspire and engage your team. These no-cost strategies boost morale, enhance productivity, and foster loyalty by tapping into employees’ innate desires for appreciation and personal development. Research shows that high performers are 400% more productive than average employees, yet they often receive less attention than underperformers—making recognition critical for retention[7].

As the founder of Complete Controller, I’ve witnessed the transformative power of non-monetary incentives across two decades of leading financial teams. When we implemented peer recognition programs and flexible project ownership, our employee retention surged by 30%—proving that thoughtful, cost-free approaches often outperform financial incentives. In fact, Microsoft Japan’s 4-day workweek trial boosted productivity by 40% while cutting electricity costs by 23%, demonstrating how flexibility directly enhances performance without spending a dime[8][14].

What are effective ways to motivate employees without money?

• Effective non-monetary motivation taps into intrinsic drivers like recognition, growth, autonomy, and purpose
• Core strategies include verbal praise, flexible schedules, professional development, and team-building activities
• Creating a positive work environment and offering development opportunities foster deeper engagement
• These methods boost morale, productivity, and retention by addressing psychological needs for belonging and achievement
• Implementing these tactics requires consistent leadership support and authentic communication

The Power of Recognition and Appreciation

Regular, specific praise validates contributions and reinforces desired behaviors without costing anything. High performers deliver 400% more productivity than average employees, yet managers frequently overlook them in favor of addressing underperformers—a costly mistake that leads to disengagement[7]. At Complete Controller, our monthly peer recognition program reduced this recognition gap and increased cross-department collaboration by 40%.

Building a culture of gratitude

• Peer-to-peer recognition programs: Digital kudos boards or monthly nominations democratize appreciation
• Public acknowledgment: Team meeting shoutouts amplify impact and model appreciation behaviors
• Handwritten notes: Personal touches create lasting emotional connections
• Celebration rituals: Monthly achievement roundups or “wins walls” sustain momentum

Companies implementing structured recognition see 31% higher productivity and 34% lower turnover rates[2]. The key lies in specificity—praising exact behaviors and outcomes rather than generic compliments.

Flexibility as a Cornerstone of Motivation

Offering schedule autonomy demonstrates trust and respects personal commitments, directly impacting performance. Microsoft Japan’s revolutionary 4-day workweek experiment yielded a 40% productivity increase while reducing operational costs and improving work-life balance[8][14]. This echoes Henry Ford’s 1926 shift from 6-day to 5-day workweeks, which reduced fatigue and increased output—proving that flexibility has driven productivity for nearly a century[2].

Implementing flexible work arrangements

Start with pilot programs for specific teams, measuring productivity and satisfaction metrics before expanding. Options include:

• Compressed workweeks (four 10-hour days)
• Core hours with flexible start/end times
• Remote work options for focused projects
• “Wellness afternoons” for personal appointments

Gallup research confirms that employees with schedule control report 41% lower burnout and 17% higher productivity[6]. One tech startup offering “wellness afternoons” saw project completion rates rise by 22% without additional resources.

Growth Opportunities That Cost Nothing

Professional development addresses employees’ desire for mastery and advancement without budget strain. Google’s famous “20% time” policy—allowing engineers to dedicate one-fifth of work hours to passion projects—birthed innovations like Gmail and AdSense while boosting retention by 28%[10][11].

Creating development pathways

• Cross-department shadowing: Employees learn new skills while building internal networks
• Mentorship programs: Pairing experienced staff with emerging talent accelerates growth
• Skill-sharing sessions: Team members teach their expertise in lunch-and-learns
• Stretch assignments: Challenging projects outside comfort zones build confidence

A B2B marketing firm documented a 50% increase in internal promotions after launching cross-department mentorship, reducing external hiring costs by 35%. The investment? Simply coordinating schedules and providing guidance frameworks.

Building Team Connection on a Budget

Strong relationships fuel collaboration and belonging without financial investment. Low-cost activities that strengthen bonds include:

• Book clubs: Monthly discussions around leadership or industry topics
• Step challenges: Friendly competition promoting wellness
• Potluck celebrations: Team members share cultural dishes
• Volunteer days: Companies with structured volunteer programs see 20% higher retention[4]

A healthcare provider’s monthly “treat day” (employees sharing homemade snacks) improved team cohesion scores by 65% in six months. The secret ingredient isn’t the food—it’s the intentional connection time.

Purpose-driven team building

Aligning team activities with company values amplifies impact. When employees participate in community service during work hours, 85% report feeling more inspired by their employer[4]. This approach satisfies the psychological need for purpose while strengthening team bonds through shared experiences.

The Science Behind Intrinsic Motivation

Self-Determination Theory confirms that three core needs drive human motivation: autonomy (control over work), competence (mastery of skills), and relatedness (connection to others)[3]. Non-monetary strategies directly address these needs:

• Autonomy: Flexible schedules, project ownership, decision-making input
• Competence: Skill development, challenging assignments, learning opportunities
• Relatedness: Team building, peer recognition, collaborative projects

When a sales team redesigned their workflows (autonomy), attended skill workshops (competence), and instituted peer feedback sessions (relatedness), quota attainment increased by 45%. The alignment of strategies with psychological needs creates sustainable motivation beyond any bonus structure.

Measuring Impact Without Guesswork

Track these metrics to quantify your non-monetary motivation efforts:

1. Employee Net Promoter Score (eNPS): Measures likelihood to recommend your workplace
2. Retention rates: Compare turnover before and after implementing strategies
3. Productivity metrics: Project completion, quality scores, innovation measures
4. Engagement surveys: Anonymous pulse checks revealing morale trends

A logistics firm tied its recognition program to quarterly engagement surveys, identifying gaps and refining tactics. Result: 25% reduction in turnover within one year. Regular feedback loops through focus groups or suggestion boxes keep strategies relevant—one SMB revised its flexibility policy based on team input, increasing schedule satisfaction by 70%.

Conclusion

Throughout my journey with Complete Controller, I’ve discovered that the most powerful motivators—trust, recognition, purpose, and growth—require zero budget but yield extraordinary returns. Our non-monetary strategies have not only reduced turnover but also fueled organic growth through employee-driven innovations. Start small: implement one strategy this week, whether it’s a heartfelt recognition or a flexible Friday afternoon. The compound effect of these actions creates unstoppable momentum. Ready to transform your workplace culture? Connect with our team at Complete Controller for tailored strategies that inspire without breaking the bank.

Frequently Asked Questions About Motivating Employees Without Money

What are the most effective non-monetary rewards for employees?

Verbal recognition, flexible schedules, and professional development opportunities consistently deliver the highest impact. Research shows these strategies can boost productivity by up to 40% while reducing turnover significantly.

How do you motivate employees without bonuses?

Focus on intrinsic motivators by providing autonomy in decision-making, connecting work to larger purpose, and creating growth opportunities. Regular recognition and meaningful feedback often matter more than financial rewards.

Can non-monetary incentives improve employee retention?

Yes, companies implementing comprehensive non-monetary strategies see up to 50% reduction in turnover costs. Purpose-driven activities and flexibility create emotional connections that monetary incentives alone cannot match.

What role does leadership play in non-monetary motivation?

Leaders set the tone through consistent modeling of appreciation, trust, and empowerment. Managers who connect daily tasks to organizational mission and provide autonomy see 45% higher team performance.

How can small businesses implement these strategies without dedicated HR?

Start with simple, scalable tactics like weekly team shoutouts, flexible Friday afternoons, or monthly peer recognition. These require minimal coordination but create immediate positive impact on morale.

Sources

• AIHR. (2024). “Top Non-Monetary Incentives for Employees.” https://www.aihr.com/non-monetary-incentives-employees/
• Automotive History. (2025). “September 25, 1926 – Henry Ford announces 8 hour workday and 5-day workweek.” https://automotivehistory.org/ford-workday-8-hours-5-days/
• BetterUp. (2023). “What is Intrinsic Motivation and How Does It Work? (Examples).” https://www.betterup.com/intrinsic-motivation
• Deloitte. (2024). “Corporate Volunteer Programs Impact on Employee Retention.” Referenced in Vorecol. https://vorecol.com/blogs/blog-how-do-corporate-volunteer-programs-impact-employee-retention-and-job-satisfaction-152833
• Entrepreneur. (2017). “10 Tips to Motivate Employees Without Resorting to Money.” https://www.entrepreneur.com/article/motivate-employees-without-money
• Gallup. (2024). “Employee Engagement Research.” https://www.gallup.com/workplace/236441/employee-engagement.aspx
• Gotian, Ruth. Harvard Business Review. (2024). “Stop Ignoring Your High Performers.” https://hbr.org/2024/10/stop-ignoring-your-high-performers
• Gatlin-Keener, Courtney. AABRI Journal. (2020). “Four-Day Workweek: The Microsoft Japan Experience.” https://www.aabri.com/VC2020Manuscripts/VC20032.pdf
• HR Cloud. (2024). “How to Reward Employees Without Spending Money.” https://www.hrcloud.com/reward-employees-without-money
• HRVista. (2024). “20% Time: Innovation Through Playfulness.” https://hrvista.in/20-time-innovation-through-playfulness/
• Inc. (2024). “Google’s 20 Percent Time: How It Works.” https://www.inc.com/adam-robinson/google-employees-dedicate-20-percent-of-their-time-to-side-projects-heres-how-it-works.html
• SHRM. (2024). “How to Measure Employee Satisfaction.” https://www.shrm.org/resourcesandtools/hr-topics/employee-relations/pages/how-to-measure-employee-satisfaction.aspx
• Together Platform. (2024). “Non Monetary Incentives: 2025 Guide + Examples.” https://www.togetherplatform.com/non-monetary-incentives
• World Economic Forum. (2022). “New study shows 4-day working week to be a success.” https://www.weforum.org/stories/2022/01/four-day-week-work-life-balance-trial/

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

Everyone wants to save money. But a lot of individuals do not know how to manage their finances. Individuals should follow The following critical steps to ensure minimal financial difficulties.

1. Begin with clear aims

The main thing that individuals ought to do is write aims and objectives about what they need to do with the money they earn and their plans. Most of an individual’s life revolves around money and finances. An individual’s aims significantly influence how much money they want to save for their studies, retirement, wedding, etc. When an individual has written down their goals, they should organize them according to their priorities. It guarantees that an individual is mindful of the ones that are essential to an individual.

2. Financial Strategizes

In making sure that individual achieves their aims, financial strategies are vital. An individual would control the budget, create a spending design, and then pay off the debts. Once these aims successfully happen, individuals will have saved a lot of money and financial freedom to fulfill their dreams.

3. Follow the budget

Making and following a budget is usually a tough act for individuals at first. However, planning a budget can assist an individual in looking at their financial circumstances clearly, which is one of the most significant aspects of managing finances. Budgeting is the initial step one takes to pay off their mortgage and debt, which helps save money for the future. Without this strategy, an individual will waste money by spending it on unimportant things. It results in the individual’s lack of success in managing the finances.

4. Differentiate needs and wants

One of the first steps an individual should take when managing their finances is to know the distinction between a want and a need. The plan is to figure out how to deal with an individual’s funds better by considering everything and considering all. An individual should regularly observe the finances and make any changes that they deem necessary that do not influence the individual’s life to a vast extent.

5. Pay off debt

Nowadays, no one is debt-free, and individuals should know how to deal with debt. It is common sense to discontinue spending money very leisurely while an individual is in debt. Debt is a significant barrier to an individual’s financial goals, so eradicating this should become necessary. An individual should ensure that he has a strategy that will enable him to pay off the debt rapidly. When individuals are out of debt, they must make sure that they promise themselves that they will remain out of debt.

6. Set up an emergency account

Accidents happen. No one knows when one can encounter a problem that will require a considerable sum of money. An individual can lose their job and cover unexpected medical costs, or the car breaking down suddenly. Another account should be for retirement funds. A company can manage it, or an individual can handle it on their own. The emergency funds in a statement should be, at last, equivalent to at least half a year’s worth of salary. The emergency account is a critical fragment in a solid personal finance strategy. In all cases, one should not withdraw money from that account but let it be in the bank account to gain profit and interest. 

Managing your finances can seem daunting, but it’s a crucial step towards achieving your monetary goals and securing your future. With these six simple steps, you can take control of your finances and successfully save money, pay bills, manage debts, and prepare for any unexpected expenses. It’s important to remain determined and focused on your financial objectives, while also keeping an eye on your budget. By doing so, you can make steady progress towards financial stability and enjoy the peace of mind that comes with it. So, let’s start this journey toward a financially secure future today with optimism and enthusiasm!

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

Paying off your debt is possible when you know how much you owe and what you need to do to pay it off. If you feel ready to pay off your debt, you can start by following these steps.

Step 1: First, Call Your Creditors to Arrange Lower Interest Rates

It is a crucial first step that most people skip. People often never call their creditors to ask for lower rates. As a result, it becomes more complex for them to eliminate debt, leading to higher costs.

 A lower rate means accrued interest charges consume less of every monthly payment you make. Therefore, you can pay off the principal (original debt) much faster.

To do this step effectively:

• Check the current interest rate (APR) on each credit card you use
• Write down relevant facts about your credit, such as:
  • The duration of time you have been a customer of each account
  • How long has it been since you’ve missed a payment?
• Check the current interest rates of credit cards to know the average rates at the country level for each type of credit card you have.
• Call the Customer Service Department on each credit card and request a rate reduction. They can pass the call on to a supervisor who can authorize a new rate—search tips on our website for information to help you trade effectively, or give us a call.

Step 2: Prioritize Your Debts

Now that your rates are as minimal as possible arrange all the debts you need to pay down from the highest APR to the lowest. You should pay off your higher APR debts because they cost more money. So, if you pay them first, you’ll save money on total interest.

Step 3: Streamline Your Budget to Exploit Cash Flow

Next, you must achieve more cash flow for your debt depletion plan. See how much cash flow you have in your accounts – that’s all the cash you have leftover after paying bills and necessary expenses. Then, see if you have non-priority expenses that you can temporarily reduce while working down your debt. Remember, you wcanresume those expenses once you have finished eliminating the deficit. Think of it like a diet you must stick to while losing additional financial weight.

The more cash flow you have to pay down debt, the faster you’ll do it. Faster also means fewer interest charges to your debt, so you’ll save money too. It pays to avoid some discretionary spending for a short time to pay off these high-interest debts quickly.

Step 4: Pay Off as Much of a Debt as Possible, Then Pay Off the Least of the Rest

Now, you can begin to eliminate your debts. You may think you should simultaneously put a little extra money on all your debts. However, this is not profitable. You’ll end up with $25.00 minimum charges to pay all at once.

It is more effective to focus on one debt at a time. Make the lowest required payment on all your credit card debt, except for the card with the highest annual percentage rate (APR). Use the extra cash you induced to make the most significant payment on that debt. Then, keep doing that every month until the balance on that card hits $0.

Step 5: Eliminate Your Debts, One by One

Once you remove the first debt, move on to the debt with the next highest APR. Pay in portions, then continue until you zero out the balance you owe. With each obligation you eliminate, you’ll free up more cash to use to pay off the next debt.

You can also bring non-priority expenses back into your budget that you’ve cut from time to time. It will guide you to avoid running out of budget, leading to overspending. Experts also recommend that some of the funds you used in those accounts be redirected into savings once you deposit your credit cards. So, if you save $500 monthly on credit card accounts, set up a $250 recurring monthly transfer to savings. This way, you can build a solid emergency fund, which prevents you from relying too heavily on credit cards.

The Best Way to Reduce Debt

The abovementioned procedure is the best because it is generally the most profitable. However, that does not mean it is the best method for every financial condition. If you have a large debt to remove, the above steps may not work with limited cash flow. It is especially true if your most significant balances are on your credit cards with the highest APRs. It’s easy to burn out from lack of progress and can stop completely.

So, in this case, it’s better to begin with your lowest credit card balances than your debts with the highest APRs. You will knock out the “lower fruit,” freeing up more cash to deal with your most significant obligations. The methods are the same as the five steps listed above. However, in Step 2, you organize your debts, starting with the lowest balance and ending with the highest.

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

What habits are necessary to obtain sustained profits and consolidate a career as an investor? What are the techniques for picking profitable stocks that Buffett uses? How are they different from those of other investors? Drawing on timeless principles and groundbreaking ideas, Buffett and Seah uncover the fundamentals of successful investing and share the financial metrics they use to make decisions.

Here are a few secrets related to the investment of money.

1. Invest for the long-term

Be calm. It is a Warren Buffett code of thumb. For this guru, “If anyone is sitting in the shadow today, it is because someone else planted a tree a long time ago.” Because of this, the billionaire involved in investing is inclined to “a horizon of several decades and fleeing from rapid profits.” “Some things take time. You can’t produce a newborn a month by getting nine women pregnant.”

2. Never endue in a business you don’t recognize

A classic often connected to FOMO (Fear of Missing Out). That fear of missing the training purpose the investor to enter the markets at the wrong time because he sees the price go up and up and then starts to chase it. In this sense, Buffet proclaims that each investor must learn to manage money and know the chosen asset. That is why much of his work focuses on limiting exposure and minimizing risks. Buffett advised them that money is gone by paying a price that doesn’t match the value you get from something, so he told them, “Price is what you pay, and value is what you pay.” what do you get.” “Whether it socks or stocks, I like to buy quality merchandise when it’s on sale,” he revealed.

3. Avoid going into debt

For Buffett, loans can be considered an addictive tool that generates problems in the future. “I’ve seen many people fail because of alcohol and borrowing money… You don’t need to borrow that much. If you’re smart, you’ll make enough money without borrowing.” “Don’t leave the house without cash,” confesses a Buffett, who uses this method 98% of the time. Relying less on your credit card can assist you in spending money you don’t have.

4. Take care of your lifestyle

It is quite usual that the more money you have, the more your lifestyle increases rapidly. It is something that Buffett has rarely done since, despite amassing great affluence, he has always been characterized by including an austere life. To illustrate, if you live in the same house you bought in 1958, don’t spend more than $3.17 on your first meal or purchase discount cars. “Anything you do to enhance your talent and become more valuable, you get back tenfold, “arguing that” knowledge can’t be taxed or stolen. It’s locked away in every brain.”

5. Surround yourself with people who contribute to you

For Buffett, one gateway he often reiterates is to surround yourself well. This list of contacts includes friends and fellow workers who stand out. The billionaire highlights the significance of marrying someone who inspires and spreads good energy. “You must correspond with people who are the type of person you would like to be because you will move in that direction.”

6. Know how to invest in times of inflation

Buffett was asked during a shareholder meeting which holdings in his company were best poised to thrive during high inflation. His reaction was that the best business to own is one that “doesn’t require continual reinvestment because it gets more and more costly as the value of a dollar falls.” The best deals during inflation are the ones you buy once and don’t have to keep making capital investments later,” he confessed. The eagerness to obtain results quickly can affect investors’ financial stability. The supreme volatility of most markets aggravated all. In that sense, Buffett’s suggestion is always to remain patient. “Although markets are normally rational, they occasionally do crazy things.”

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

As experts in the real estate world, we know that financing your home purchase can be a subject that brings you more than one headache. For that reason, we wanted to simplify the options for you.

Going through the bank is undoubtedly the most popular method to finance the purchase of a new home. You can always resort to the most classic option: request a mortgage. Depending on the bank, your mortgage will last for typically 25 years, give or take.

The fact is this: do you trust the banks after the failed one? And even if you still trust them, would you mess with these kinds of entities in bed for 25 years? If this idea neither appeals to nor convinces you, welcome to our creative list of new (and not-so-old) ways to finance the purchase of a new home:

1. Share your home with a co-owner

It is not as common as the handy mortgage and is much more original. Some people buy houses, sharing the expenses of this with another party. In this way, the house has two owners who do not have to be friends or relatives. Depending on how much each party has contributed, they share the deed to a home and its use over time. The truth is that this is an excellent way to finance a second home. Consider the following situation: you buy a house with someone only interested in spending two months a year there. You would live in it for ten months, and your co-owner two, in which you could go on vacation!

2. Buy an entire building with a group of co-owners

Everyone gets a piece of the cake in this cooperative of owners: each one their apartment. So, everyone shares ownership of the building itself, but you don’t have to share your home with someone else. Considering that you choose your property colleagues, they should all be to your liking and sympathy. It would be the ideal solution to end fights with neighbors.

3. Have you heard of the two-stage mortgage?

With this type of mortgage, you can have a fixed interest rate for 40 years. In this way, you will pay less than usual, but longer. In any case, after ten years (or the period that you have agreed with your bank), you can review your mortgage and modify or adjust it if you wish. This option gives you more flexibility when organizing your payments.

4. The three of always: family, friends, and crazy

Pay special attention to your network of contacts. You never know who the potential sponsor of your dream home could be! Your friends might be interested in investing in a property that you will enjoy, and they could trust that you could pay them back at some point in the course of history. Similarly, your relatives can act as your patron. Of course, beware of spoiling family vacations for the next few years. Return what you owe at the right time; thus, Christmas dinners will not become a verbal or physical battle!

5. Crowdfunding: use the power of the masses

Crowdfunding is a form of financing that has become quite popular recently, especially in start-ups. Crowdfunding is a way of raising money and support for a specific project: starting a business, helping launch a new music album, or even helping someone buy a house or a car. There are countless websites where you can publish your projects and where people can participate so that they become a reality. For your pretty face! In addition, you can give gifts to your economic collaborators when you reach your goal [or not…]

Although we cannot finance your house, we can help you find it. We will be your guides in the search. We will give you all the advice we can from Trovit. We are sure you will find what you need on our website and blog.

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

First, you must record the current month’s planned income and expenses. A detailed spending plan cannot be kept in your head, even if you have a good memory. It will help create an overall financial picture.

How to do it? To begin with, we draw up a table with all receipts and expenses on paper (or in Excel, as it suits you). It is essential to think over the aspects of life well and not miss anything. Although the first time, of course, there will be shortcomings. It is impossible to carry out precise and correct planning right away. If you find any defects, you should record them in notes. This approach will help improve the budgeting scheme for the next month. Then, each subsequent account will be better than the previous one.

Steps to Help You Manage Your Budget

You should plan any trip to the store. A shopping list and following it as closely as possible will help save money. It is helpful to make a menu for several days, based on which it will be clear how many products you need to purchase and in what quantity. To a large extent, the ability to plan your expenses well is influenced by the skill of time management. We have already discussed it in our article “Personal time management or how to manage your time.”

• Spending accounting. It helps to detect unnecessary purchases and avoid them in the future. You can write in a notebook notepad or use specialized applications on your smartphone.
• Putting aside money. There is always a risk of deprivation of a permanent income. There must be a reserve that will help stretch out for several months in an unforeseen situation. It should be at least three salaries.

Family Budget: Planning and Controlling Home Finances

The well-being of a family depends to a large extent on budgeting skills. Written planning rules are also needed here. The ability to save is no less critical than accounting for income and expenses.

There is an exciting way to organize a household budget. It is called “10-20”. Its essence lies in the monthly saving of at least 10% of the total income. Financial experts advise you to set the goal of accumulation immediately—for example, a vacation, a significant purchase, or a reserve for a rainy day.

“Seven Envelopes” is another way to manage a family budget. On the day of receiving wages, you need to distribute the money in seven envelopes. Their purposes can be as follows (there may be fewer or more points; everything is individual here):

• Monthly Payments
• Nutrition
• Money for children
• Expenses for essential purchases (furniture, appliances, clothing)
• Cash for vacation, entertainment
• Savings
• “Joy” – funds left from the previous month after making mandatory purchases and payments

By the names, it is straightforward how the family budget is distributed.

Method “Four Envelopes.” This alternative is like the last one. But here, each envelope corresponds to a week of the month. The disadvantage of this technique lies in the difficulty of allocating funds for specific expenses.

You must follow seven essential rules to maintain a household budget successfully:

• Avoid debt. Avoid debt, unplanned loans, and bad credit cards whenever possible
• Moderate accumulation and distribution of funds
• Choosing a specific goal (for example, buying a car) is advisable. Such motivation will improve productivity
• Each family member must clearly understand how and why the budget is in place
• Distribute income and expenses according to financial realities today
• Set aside at least 10% of your income in the reserve fund
• At the end of a certain period (for example, a year), please the family with a trip, purchase, or entertainment

Regularly, preferably every month, plan and record. Only stability will help to achieve results.

Tools for Efficient Financial Management

The way you manage your budget depends on your personal preferences and skills. It is more convenient for someone to keep a notebook or use a computer or smartphone.

If there is no possibility or desire to use technological equipment, you need a “granary book” in paper form. The central part should consist of a table divided into three columns (expense, income, total). Keep a record of the money that has come and gone in the first two. The last column is needed to compare the remaining funds with those in the pockets.

It will be much more efficient to manage finances in specialized programs. Many have a version for both PCs and smartphones, allowing you to synchronize and enter data at any time of the day. The functionality of such software includes essential functions. For example, it automatically creates reports, allows you to track debts and loans conveniently, plans finances for the future, and stores savings data. Plus, many applications can add user profiles. That is, they help to maintain a joint budget with all family members.

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

Distinctive Features of the American Market

A distinctive feature of the American market is the variety of financial instruments: more than 5,000 shares, about 1,000 depositary receipts, more than 2,000 ETFs, and bonds. For comparison, the Russian market is approximately 2,000 debt instruments and, in terms of shares – about 280 securities. American sites are multinational; securities of both national and international companies are traded here. Among the market participants, among other things, there are our domestic public companies, most of which are also on the Moscow Exchange site. For example, depositary receipts of the Russian MTS, Chinese Alibaba, Indian Tata Motors, and 1,000 other foreign companies are in circulation in the US market.

The American market provides investors with great opportunities for industry diversification of investments. Compared with the same Russian market, represented by 17 sectors, the US market circulates securities of issuers from 20 industries. Let’s compare the structure of the Russian and American markets. The Russian market, as a direct reflection of the resource-based economy of the Russian Federation, has a significant bias towards the oil, gas, and mining departments; in the US market, the technology and financial sectors stand out in terms of capitalization. Each sector of the US market, in turn, is divided into several industries. Companies from 129 sectors are on the US stock market.

The variety of trading platforms is an absolute plus for investors.

Exchanges and competing can Offer More Favorable Conditions for Their Customers

Greater liquidity of investments is available: a fascinating fact is that securities of the same issuer can be traded on several sites at once under the same ticker. At the same time, the orders placed by the investor for the purchase/sale are broadcast by the broker to all sites at once, which allows you to make transactions with minimal losses and transaction costs.

The main distinguishing feature is that there are many exchanges in the US stock market, unlike Russia: from small to global giants, different in scale and range of instruments provided.

Structure of the American Market

The list of participants in the US stock market, their tasks, and functions are like the structure of the Russian market (see the article “How the stock market works “): the exchanges themselves, investors, issuers, clearing organizations, and brokers. By analogy with the Central Bank of the Russian Federation in Russia, located in America, the regulators of the trading process are two leading financial institutions – the Federal Reserve System (FRS) and the SEC Securities Commission. Many independent departments create rules for the interaction of stock market participants and monitor their implementation (FOMC, FINRA, etc.).

As for the US exchanges themselves, there are currently more than 10. Some are part of international exchange holdings of the existing modern list of businesses. Some are universal, and some are specialized. And if you look at the market history, you formed many trading platforms here, some of which, over time, could not withstand competition and went out of business; others consolidated into groups.

The figure shows, as an example, a list of exchanges where shares are trading from the foreign trading terminal Trader Workstation:

American Stock Exchange (NYSE MKT LLC, Formerly AMEX)

The American Stock Exchange (NYSE MKT LLC, formerly AMEX) is one of the US stock exchanges, founded in 1911 in New York. Currently renamed NYSE MKT LLC and owned by the NYSE. Capitalization – about $1 trillion.

The company’s heyday came in the second half of the 20th century when the number of companies listed on the AMEX sites almost equaled the NASDAQ. However, after the launch of the electronic trading platform on the NASDAQ exchange, there was a significant outflow of bidders. In response to the current crisis conditions, the company began to look for alternative ways of development – expanding the list of available instruments and launching a listing of foreign companies. These measures had a temporary effect. During these difficult times for the exchange, AMEX “passed into the hands” of NASDAQ, and then there was a buyback. But in the end, in 2008, in the context of the global economic crisis, AMEX finally lost its viability – it lost its sovereignty, passing into the possession of the NYSE and renamed NYSE MKT LLC.

Today, NYSE MKT LLC is a platform for listing and circulation companies with small and medium capitalization. In the exchange environment, it is considered a “bridgehead” for dispersing small companies, which subsequently go to the NYSE exchange upon reaching a certain level.

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

Often, businesses require investments at the initial stages of project development – when they attempt to develop a prototype or launch the first sales. Then, the businessman faces raising capital from private investors and investment funds. Due to increased uncertainty and risks, banks refuse to lend to such startups or do it on personal property security.

My experience in corporate finance is over 15 years. I help startups, and growing businesses raise investments and get their finances in order.

This article will tell you where to look for investors and how not to miscalculate financing terms.

Ways You Can Increase Capital for Your Business Idea

Investment in external funding keeps a business going until it gets back on its feet and starts generating sustainable profits. Or until the investor runs out of patience – after all, many projects never realize their potential.

It is one of the critical types of investments – it is also called venture capital. This is true when it comes to innovative startups. According to statistics, 75% of such projects do not survive, and the investor completely loses the invested funds in 30-40% of cases.

External financing is often necessary for business development. According to surveys, 49% of startup entrepreneurs consider investments an essential resource for the company’s growth.

The seed and startup stage is when the product is being developed and brought to the market. This period is also known as the Valley of Death because, according to statistics, 8-9 projects out of 10 fail here. They never reach the break-even point, and investors partially or entirely lose their investment.

The expansion stage occurs when the company strives for a successful business model and effective promotion strategy, and sales growth and cash flow become positive.

Growth and mature growth occur when a company steadily strengthens its position in the market and becomes consistently profitable.

Each stage implies a different level of risk: the younger the project, the higher the uncertainty and chance of failure. Accordingly, the amount of capital raised and the purpose of its attraction also differ.

If, in the early stages, the main task is to bring the product to the market to test demand, then in the later stages, it is to increase market share and profits.

Typical Mistakes of Novice Entrepreneurs

Entrepreneurs must remember that investing is free capital to make a profit for any investor.

About half the time in my practice, I encounter startups that are not serious about money: often, they treat a potential investor like an ATM from which you can make money with the promise of dim prospects. The entrepreneur does not have a transparent business model but expects that the attracted investments will somehow start sales.

Another option: the owner of a dying company is looking for investments. We often talk about a small enterprise that fed the owner for some time, but something went wrong – the market changed, or a key customer left.

Often, the matter is complicated by an enormous debt to banks and suppliers. There is usually nothing to support here:

• The equipment is outdated.
• The customer base is small.
• There are illiquid goods in the warehouse.
• The owner does not even have a well-thought-out anti-crisis plan, but at the same time, he hopes that the investor’s money will help save the situation.

I recommend that all entrepreneurs put themselves in the place of an investor and think like him. Professional investors are primarily interested in the following:

Projects with Launched Sales, Demand Confirmation, and a Clear Promotion Strategy

Companies with attractive assets: patents, equipment, or customer base that can generate synergies with other investments

In other cases, I usually advise looking for an investor in your immediate environment – among friends, acquaintances, or relatives.

Investment Types

So, you are an entrepreneur and are planning to attract investments. When trying to be effective in fundraising, it is essential to remember that each investor specializes in specific industries and stages of their development. Therefore, it is necessary to focus on those investors whose sphere of interest your project falls.

The advantages of debt financing are that you do not need to share profits and control over the company. However, suppose a business is starting up. In that case, a novice entrepreneur is unlikely to receive a loan from a private investor – except perhaps on the security of expensive property, a car, or an apartment. Therefore, sharing a share in a business with an investor is a good option. It is ideal if, in addition to money, the investor also brings his experience and connections to the project.

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.

Debts are Part of Life

Do not worry. Being debt-free is a great thing, but for most of us, the reality is different. Few people can give cash for a home, a car, or a college education. Still, it’s sensible to understand your debt and manage it properly.

Not all Debt is Bad

You require some credit history to qualify for a loan when you need one.

“Most of us are programmed to feel guilty when we owe money. It doesn’t matter if you owe a person, a bank, or a credit card company. The key is determining the level of debt that’s right for you,” explains Heather Winston, Associate Director of Financial Planning and Counseling at Principal.

Winston offers some rules of thumb:

• 28% of income before taxes
  • It is the maximum amount of debt for your home (principal, interest, taxes, and insurance)
• 36% of income before taxes
  • It is the maximum amount of all debts, including your home

You are Not the Only One

In a present survey, we asked consumers if they were making any economic changes due to COVID-19. 21% said they were going to pay off their debt*.

Three ways to strike a balance:

1. Know what you owe

It’s like keeping track of everything you eat when trying to get healthier. You write it down so you know where you are in the process.

In the case of debts, write down the balance, the interest rate, and the minimum payment. Please enter the data in our debt management worksheet (PDF).

2. Reduce the balance

Rank your debts according to size or interest rate. Then, analyze how you are going to deal with them.

Snowball Method: First, focus on paying off the account with the lowest balance. Continue to make the minimum payment on other debts. Once you eliminate that first debt, move on to the next debt with the most insufficient balance. It could be the correct method if you are motivated to make more minor credits disappear.

Highest Interest Rate Method: Focus on debts with the highest interest rates first. Try to pay off the next one with the highest interest rate when you pay off one. Of course, you continue to make the minimum payment for the other debts. If you want to pay the minimum over the life of your loans, this could be the proper method for you.

“When you pay off high-interest debt, you generally gain more long-term purchasing power,” says Winston. “But at the end of the day, do what works well for you. The key is that no matter which technique you choose, choose one and stay focused on it.”

When you pay off high-interest debt, you generally gain more long-term purchasing power.”

-Heather Winston, Associate Director of Financial Planning and Counseling

3. Manage your debts

Continue managing your debt as part of your overall financial plan.

Set up regular automatic payments. Late payments can hurt your credit, and you could be penalized. Automatic payment can be your friend in this regard.

To pay off debt faster, cut expenses from your budget or increase your income.

Suppose you hope to finance future expenses (buying a house next year or paying a deductible because you’re having a baby) and factor those expenses into your overall financial plan. Apply for loans intelligently and think very well before acquiring a debt. Read “Five questions to ask yourself before taking on debt.”

For credit card debt, try negotiating for lower interest rates. Ask for a lower interest rate, and you might get it. Or consider transferring your credit card balance to one that offers zero interest for a set period. Make sure you read the fine print. It is necessary to be aware of when the promotional period ends.

Refinance. You could save money, especially now that interest rates are so low. Or you can consolidate your debts and thus make a single monthly payment. Check the terms and conditions; there may be costs in the process.

Know Your Credit Score

Don’t forget about your credit score. Please get to know it and recheck it every year. The FTC has the information you can trust, including links to accessing your free annual credit report.

Having a lot of debt, especially high credit card debt, could affect your credit score. High credit scores typically allow loans to be approved more quickly. Of course, paying off your loan balance helps.

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 platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO 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.