Author: Complete Controller

In today’s fast-paced world, juggling the demanding roles of a mother and an entrepreneur requires a superhero’s cape. Many daring women tread this path, combining the nurturing role of motherhood with the fierce determination of entrepreneurship. This article celebrates these incredible women, exploring the challenges they face, their unwavering spirit, and the impact they make on their families and the business world.

The Dual Role: Mother and Entrepreneur

Mothers are inherently multitaskers, but those who step into the entrepreneurial realm take multitasking to a whole new level. They balance business meetings with parent-teacher conferences, strategic planning with family dinners, and financial management with bedtime stories. It’s a 24/7 job with no days off, yet these women embrace it with grace and resilience.

Challenges on Every Front

Being a mother and an entrepreneur comes with a unique set of challenges. Time management is a significant hurdle. There’s always a delicate balance between attending to the business’s needs and being present for the family. Financial pressures also loom large, as starting and maintaining a business requires substantial investment, not to mention the financial responsibilities of raising a family.

Moreover, societal expectations and stereotypes often add another layer of difficulty. Women in business face gender biases and are frequently underrepresented in leadership roles. Combining this with the societal expectations of being the primary caregiver at home, mothers and entrepreneurs constantly fight to prove their worth in both arenas.

The Triumphs of Mother-Entrepreneurs

Despite these challenges, mother-entrepreneurs achieve remarkable successes. They bring unique perspectives to the business world, often prioritizing sustainability, community, and work-life balance more than their counterparts. Their ability to multitask, prioritize, and exhibit empathy translates into effective leadership and innovative business strategies.

Furthermore, these women serve as incredible role models for their children. They exemplify hard work, perseverance, and the courage to pursue one’s dreams. They teach by example that it’s possible to follow one’s passion while fulfilling family responsibilities.

The Impact of Mother-Entrepreneurs

The impact of mother-entrepreneurs extends beyond their families and businesses. They contribute significantly to the economy, creating jobs and driving innovation. According to the National Association of Women Business Owners, 11.6 million women-owned businesses in the United States generate $1.7 trillion in sales. While not all these business owners are mothers, a significant number juggle entrepreneurship with raising a family.

Moreover, these women challenge and gradually change societal norms and expectations about gender roles in both the professional and domestic spheres. They pave the way for future generations to live more equitably.

Supporting Mother-Entrepreneurs

Recognizing the critical role of mother-entrepreneurs and supporting them through policies and resources that facilitate their dual responsibilities is essential.  Flexible work arrangements, access to affordable childcare, and mentorship programs can help. Additionally, encouraging a culture that values work-life balance is crucial for their success and well-being.

In Conclusion

Being a mother and an entrepreneur simultaneously is no easy feat. It is a journey filled with obstacles but one that also brings immense rewards. These remarkable women possess incredible strength, flexibility, and determination that allow them to navigate the challenges of their dual roles with grace and resilience. 

Their contributions to both their families and the business world are invaluable. As they juggle their responsibilities, they bring fresh perspectives and innovative ideas that enrich the world around them.

Let us take a moment to celebrate and support the mother-entrepreneurs in our lives, for they are the unsung heroes of our time. They push boundaries, break barriers, and set new benchmarks for success and fulfillment. Their journey is a testament to the power of resilience, love, and ambition.

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.

Raising costs is likely the easiest method to expand your income. As a rule, you can develop your cost point and watch your income increase. This is because evaluating is what financial specialists call flexible. That implies that multiplying your costs will not result in losing many of your clients. You will most likely lose not precisely half, expanding your income in this way. Moreover, if you cut your costs down the middle, you may not need your absolute clients.

A sale can be one of the best methods to get clients to make a move now; lastly, get around to attempting your item. Clients who are going back and forth occasionally need a delicate push, and a rebate can be a simple method to give that poke.

Do you have a company that sells services? If so, this post may interest you because you may be interested in converting services into products. Selling a service is, in many cases, more complex than selling a product. The customer cannot see something tangible, touch it, or know what quality it is, what decorations or special packaging it has, or what guarantees it has.

To overcome all of this, the first step I recommend you take within your sales funnel is to gain your audience’s and potential client’s trust. It is not the subject of the article, but, for example, to build that trust, you can:

• Offer one hour of free counseling or consulting (whether you are a physiotherapist or have a law firm).
• Make a free initial report.
• Provide valuable content for the client through the blog, social networks, or newsletter subscription.
• Have recommendations for your services or testimonials that guarantee your offer’s quality and commitment.

But let’s continue with the subject. Your company can obtain many advantages, one of them increasing your income by converting services into products. I must mention that this process requires changing, innovating, or modifying, in a way, your business model.

Indeed, service conditions are usually determined by the specific specifications and characteristics of the client in question. However, you can increase your profitability and growth by marketing “standardized products” derived from your services.

If you sell a product, you may also be interested in performing the process in reverse. That is, convert your products into services, but I will talk about it in future publications.

When you offer services, what you sell is your time or your workers’ time. And time, hours, is something finite. Every time you want to increase your income or have more customers, you will have to make more hours, time, and employees available to them. So, your business has a limitation: the open hours.

Next, I want to show you how you can improve the scalability and profitability of this model through passive income.

Convert Services into Products or How to Generate Passive Income

What does passive income mean? Obtain a series of residual income without necessarily selling your time or hours. Passive income allows you to enter money without being on top of what you offer and selling directly. The case of rents, a property you make available to another person and generating a monthly income without requiring active participation, is an example of such an occurrence.

Converting services into products is necessary to generate passive income. The latter does not require your presence or direct involvement, and you can automate it to create benefits without needing 100% of your attention.

So, not only do I want to talk to you about converting services into products, but they require minimal vigilance on your part. 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.

The process of adding value to a product is a complex chain of operations, each step building on the previous to create a final output that is worth more than the sum of its parts. Every component in the chain plays a vital role in maximizing the value of the product, ultimately determining its selling price.

This sequence of activities is known as the value chain, and it encompasses everything an organization does to create its products or services, from sourcing raw materials to delivering the finished product to customers. The value chain is a critical concept in business, as it enables companies to optimize their operations and stay competitive in a crowded marketplace.

Organizations looking for the upper hand regularly use value chain models to distinguish open doors for cost investment funds and separations in the creation cycle. In ideal circumstances, the worth chain shows that the cost to construct is far lower than the cost the market can hold up under. However, this is getting more troublesome as client requests develop multifacetedly and market rivalry increases. Furthermore, innovation and specialized techniques have changed enormously since Michael Porter presented the worth chain model in 1985.

Primary Value Chain

Porter believes that the main Value chain consists of five components. Those are:

1. Inbound Logistics: the primary responsibility of inbound logistics is to receive the material from the supplier, keep it safe in the warehouse, manage the inventory, and manage the raw material. 
2. Operations: The primary responsibility of operations is converting the material into a product that customers would be interested in purchasing. This section is responsible for the equipment used in assembling and packing the products.
3. Outbound Logistics: outbound logistics oversee the responsibility of storing the finished goods and managing their delivery and transportation to the customer’s destination. 
4. Marketing and Sales: As the name suggests, this component concerns the marketing department. This component is responsible for marketing the product, spreading awareness, and enhancing the company’s visibility. 
5. Services: The products incorporate this feature when the services provided at the point of sales are linked. It includes installation, repair, and maintenance services.

The idea of the exercises in the value chain fluctuates, starting with one industry and then onto the next, and there are different contrasts between the value chain of producers, retailers, and other service industries. Notwithstanding, the idea of the primary value chain is legitimate for a wide range of business elements. 

Value includes every one of the exercises, the primary value chain. Clients may pay more for an item or a service if it is conveyed to them in a progressively helpful manner. For instance, clients may pay more for family shopping if things are related to their homes, so they do not need to go to a general store or a store to get them.

Along with the primary components, the chain also entertains secondary elements. Those are: 

1. Purchasing: This involves purchasing the company’s resources. The company’s assets are included in this portion, where it buys plants, equipment, and raw materials. 
2. Technological Development: This department is concerned with innovation strategy and all research and development processes. It analyzes the factors that would add more value to the product than it already is.
3. Human Resource Management: This department hires individuals for the primary chain to add excellent value to its product.
4. Corporate Infrastructure: This department deals with enforcing the proper form of infrastructure, which would help the organization achieve the goal of adding the best value to the product. 

Therefore, value is added to a product following a chain of operations. The value becomes the selling price of the product. Each component in the chain adds value to give the product an optimal output. Simply put, the value chain is the activity around the organization that assists the organization in creating the product or services. 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.

The essential strategy of a business ought to be a long-haul benefit, not simply income development. “Gainfulness is an estimation of productivity.” It eventually is the main factor in the achievement or disappointment of a business. “It is communicated as a family member, not a flat-out sum. The benefit is “the capacity of a business to create an arrival on speculation dependent on its assets in examination with an elective venture. Albeit an organization can understand a benefit, this doesn’t mean the organization is productive.”

More income from deals doesn’t generally mean more benefits. Income is just a piece of the story. Fewer costs rise to benefit. A business must keep its expenses as low as possible to ensure it is expanding its benefits. How would you augment benefits?

Not always. More sales mean more profits and don’t ensure more wealth. True wealth occurs when earnings can become cash flow. Some businesses are profitable but do not generate profits.

In this article, we discuss how to create a company structure that allows you to have profitable businesses that produce real wealth.

For many entrepreneurs, the growth of their companies is a function of sales. Sales could grow by 25%, but their earnings could have increased only 10%.

If you don’t have tight control of your figures, you can, without much of a stretch, locate that a business is selling a more significant amount of something for less by and large than it did already. It might sound straightforward. However, it’s astonishing that several organizations fall into this snare. You must survey your marketing projections continually and glance at the patterns to determine where your most beneficial zones are.

The actual growth of companies is measured in terms of profits, But if we want to measure the change in the wealth created by the company, we must estimate it based on the company’s cash flow.

Companies sell cash and credit. Sales to credit are converted into cash flow until they are required. In addition, you should consider “net sales,” that is, sales invoiced fewer returns, replacements, discounts, and bonuses. If you want to make it more accurate, you must discount those sales commissions by credit card, the commissions of the sellers, and the shipping costs, if any.

Regarding the profits shown in the Income Statement, one of the three financial statements every entrepreneur must receive monthly considers that “profit” is not cash flow. The profit shown in the Income Statement is the strict calculation of the profit based on the following criteria:

• Billed sales (not charged)
• Purchases were made to suppliers that entered inventories, but not all have been spent yet.
• The sales costs of sales invoiced, even if the products were manufactured or purchased months ago.
• Not all these purchases have been paid to suppliers yet.
• The wages of the month with all their social charges and legal benefits, although it will pay some of those expenses later. Social charges the following month, holidays, and bonuses (thirteenth month) several months later, etc.
• Other expenses correspond to that month, although they were paid months ago or in the future.
• The expenses are expenses, but they are not cash flow like the “depreciation expense.”

Understanding all this is of great importance for the employer because it allows you to measure, every month, the following:

• Growth in sales
• Profit growth
• Growth in cash flow

Of those three, the third metric is the one that measures proper business growth.

Learn to Control the Results of Your Company

Entrepreneurs urgently need to know and learn how to use the necessary, functional, and practical management control tools to understand, analyze, and manage their company’s finances.

The entrepreneur does not need to be a financial expert. Still, knowing and using all the available tools to control your company’s financial results and make accurate and timely decisions is crucial. 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.

Investing in the stock market can double your money every ten years, and Buy and Hold is one of your options when choosing a strategy to start investing.

I started investing with Buy and Hold, also known as investing in dividends and Buy and Hold. Right now, I have three different investment strategies, and one of them remains this. I have already told you it is not my preferred strategy.

When stocks are held for over a year, they usually allude to a drawn-out holding or long-haul venture. Yet, one year is an amazingly significant timeframe for unpredictable and value-delicate business sectors as stock costs can shoot up or down radically inside this period in such cases. You must pick Stocks cautiously. There are numerous systems in the market that you can use to select the correct stock for a long-haul venture.

I don’t like one thing about dividends, and I didn’t know it at first. But don’t hurry; I’ll tell you later.

What are the Buy and Hold?

Buy and Hold (B&H) is a long-term investment strategy based on buying shares of stable companies that distribute dividends and hold them indefinitely. Of course, on occasion, claims will be sold, such as in the event of irreparable deterioration of the company. These types of companies are known as Blue Chips.

It is not enough to make a purchase—that’s it—you must invest continuously (that’s why it’s a long-term strategy).

It is essential to try to buy at the best possible prices, but choosing the right companies is necessary (if we never want to sell, you must choose very well). The objective of the Buy and Hold is to obtain dividend income that allows you to have an extra salary, just as if you bought a property and rented it.

Before, I told you that I have three strategies, and the 3 share these characteristics, so they are not unique to Buy and Hold.

It is investing in the long-term

You are not looking for a punch. The intention is not to buy and sell continuously but to buy and hold indefinitely.

It is investing in the equity/stock market

Therefore, what characterizes Buy and Hold is that you buy shares of large and stable companies that distribute dividends.

Desired Characteristics in Companies – Blue Chips

Companies with continued benefits

If we buy a company to maintain it indefinitely, we must ensure that it always benefits, either in times of prosperity or crisis. We do not want a company that has a bad year every three years or things like that. We are looking for companies with stable and growing benefits.

Large companies

If you want to ensure that the company has a long-term future, you must consider the company’s size. Small companies are easily manipulated and may have problems due to their size, so acquiring large companies with high market capitalization is essential.

Companies that distribute dividends continuously

The key to Buy and Hold is to look for a periodic income, so we want companies to share a portion of their profits as dividends.

We are looking for companies with a good dividend distribution history, not cyclical companies that pay dividends only in the good years.

Companies that have been in the stock market for years

We are looking for companies with a history of benefits and dividends, so companies must take 5-10 years or more in the stock market to have that history.

Many new companies continuously go public, and they get a lot of publicity, so many people invest in them. However, not having a history behind them makes it very difficult to predict whether the bet will go well or not.

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.

The lack of liquidity of the business or the belief that there is no obligation to register as self-employed is just one reason why the self-employed worker stops being up to date with the Administration. If the creditor is Social Security, you should know that what awaits you is not exactly a dish of good taste, so we recommend you always check the box. In the following lines, we deal with the costly consequences of having debts with Social Security due to non-payment of fees.

Certain obligations prompt your Social Security installments to be decorated. These incorporate government obligations like administrative charges, bureaucratic understudy advances, kid backing and divorce settlement, and casualty compensation. There is one warning that you should know about this theme.

Suppose your Social Security benefits are saved legitimately into your financial balance. In that case, the bank is legally necessary to shield them from garnishment at whatever point the leaser endeavors to take cash from your record. Assuming, in any case, you get a Social Security check and store it yourself. The bank can freeze your record when the lender attempts to take cash from it. You would need to go to court to demonstrate that the money in your record is from your Social Security benefits.

The Cost of Not Paying the Self-Employed Quota

If you are one of those people who has crossed your mind not to register in the Special Regime of Self-Employed Workers (RETA), let us tell you that it is a terrible idea. By Labor Inspection or ex officio, the Administration can force you to register as self-employed and retroactively pay the corresponding fees; this, added to the surcharge of 20% to pay late, is a blow to your pocket.

Loss of Bonuses

But that is not all. Having debts with Social Security, either because you have not registered as self-employed or are not paying monthly fees, reduces the possibility of benefiting from bonuses. According to the previously mentioned case, the Administration forces you to register as a newly self-employed person. In that case, you will not benefit from the flat rate or other bonuses to the fee directed to those who start their activity. Suppose you are already enjoying any of them and stop paying just one of the monthly installments. In that case, you will lose the right to continue benefiting from the reduction at least until you make up the payment of the debt, a moment in which you take the bonus in the period that corresponded.

Dismissal of Subsidies

Add and follow. Another consequence of not being aware of your obligations with Social Security (also a tax) is the refusal or non-payment by the Administration of subsidies called by any public body. It is indicated in Article 13 of the General Subsidies Law:

The persons or entities in which any of the following circumstances may arise shall not obtain the condition of the beneficiary or collaborating entity of the subsidies regulated in this Act. However, due to the nature of the subsidy, its regulatory provisions are accepted:

• Not being up to date in complying with the tax or social security obligations imposed by the current provisions in the manner determined by regulation.

Non-Payment of Benefits

If all the above did not seem to be enough punishment for getting into debt with Social Security, there is another penance: the non-payment of benefits. Suppose you have outstanding Social Security accounts when you request your retirement. In that case, you will not be able to collect the pension without first paying them or, failing that, postponing them. However, we remind you that Social Security does not allow the postponement of debts of less than double the current monthly SMI.

There may be cases in which the debtor is declared uncollectible by the Administration, and the debt is not due. Still, in the fine print for calculating the pension, the outstanding payment period will be deducted from the total time, which could lead you to not comply with the minimum time required in case the debt is large and the period is too long.

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.

Undoubtedly, there is always the possibility of improving your finances. Please do not wait until the new year or when things get bad.

 

How to Improve Personal Finances

You can earn a little to a lot of money by investing time in controlling your finances. Here are ten suggestions that will make the task easier.

 

Get rid of debts on cards

In addition to being a good financing tool, they can become your worst nightmare if you fail to make timely payments. The interest charged by credit cards is the highest in the market. If you are unsure you can pay, you should not commit to a card. There is also the option of making cuts and getting more income if you use this tool. If you love to use it, you can use it frequently if you can pay for everything at the end of the month.

 

Invest in yourself

Investing in yourself, courses, or a new career is the best way to earn more money and ensure that your knowledge does not lose value over time. New knowledge can also be helpful when applying for a new job. While specialization can bring great benefits, focusing on a single area can eventually make your knowledge obsolete.

 

Save for equity

For your dreams and purposes to come true, you need to direct all the present actions you want to achieve in the future. It can be a house, an apartment, or a car, no matter what. What matters is that you start with savings and can get much of the deposit. It ensures that the offers you receive from credits are better and your debt is lower.

 

Make a budget

The budget is the best tool for knowing where your money is going and how much you spend monthly and annually. To use money intelligently, you must write down your basic needs and the money that goes into them. You can be as detailed as you want and write it down on paper, apps, or your computer.

 

Save for retirement

Future finances and quality of life are essential. Retirement savings can ensure that you will have enough money in addition to what you receive. Don’t fall asleep on your laurels; start by opening at least one savings account.

 

Invest in insurance

Insurance gives you peace of mind in case of accidents. They are often available for events that involve a large amount of money, such as crashes, loss of real estate, or health emergencies. But they are also available for minor things like securing your bike or mobile devices. Choose the ones that best suit your lifestyle, and you won’t have to worry more in the future.

 

Request an increase in your work

The worst thing that can happen is that they say yes, and you should modify your budget and goals because, until now, you have managed to get ahead with the same amount of income. Also, do not forget to justify the request for an increase. Show how you have added value to the company and make it impossible to give it a go. If you still receive a negative response, do not hesitate to ask for improvement.

 

Pay past debts

There are many other debts in addition to credit cards. Debt means sacrificing part of your monthly income, which you could use for better purchases. Try to find ways to make cuts and avoid getting new ones.

 

Prepare your will

Whether you have many or few resources, you can choose who gets what assets of yours. Many people avoid thinking about this, but it is worth avoiding the inevitable. If you don’t have the money to consult with experts, you can search for more information online.

 

Open an emergency fund

No one is exempt from accidents and unforeseen events, but you can help prevent it by setting up an emergency fund.

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.

If you convey the standard Mastercard equalization of $15,609, pay a run-of-the-mill 15% APR, and make the base regularly scheduled installment of $625, it will take you 13.5 years to pay it off. Also, that is just if you don’t add to the equalization, which can be a test all alone.

Drowning in debt can be very stressful. In the United States of America, almost every citizen struggles to pay off the debt. Student loans, house loans, car loans, business loans, or credit card debt are significant hurdles to achieving financial stability. According to studies carried out in 2017, every American accumulates more than $6,000 in credit card debt on average. At the same time, they owed more than $24,000 in additional loans such as car or house loans.

The faster one gets debt-free, the greater their chances of achieving financial stability. Repaying loans can be a very long process without a proper plan or strategy. Therefore, a strategized approach to getting out of debt is smart!

Here is a guide that can help people get out of debt on their own faster and pave the way for their financial stability!

Make Payments Higher than Minimum

If the loan does not include any prepayment penalties, the best practice is to pay the higher than the minimum amounts. This way, individuals can repay the debt before the estimated period and save themselves from the increasing interest rates. It can only be done if no other amounts are added to the existing balance.

More than One Income Streamlines

Nobody likes to work more than 8 or 9 hours to earn income, but looking for more than one income stream for a stable future is best. Working as a freelancer is a perfect way to make money out of the skills that one possesses. Also, it can convert one’s hobbies into an income source. Part-time jobs such as driving with Uber or babysitting can help people make good money!

Adopt Bare-Bones Budget for a Short Period

Cutting down expenses is necessary if one wishes to pay off their debt faster. A person can do that in many ways, but the bare-bones budget is the most effective. With this tool, individuals can cut their expenses to reach the bare minimum and live on a minimal budget. Everyone can customize this plan according to their requirements, but it must be free of extra spending! With a strict budget lifestyle, the number of debt payments can increase, helping people get out of debt quicker. It is a temporary plan. When the debt reaches its lowest point, people can return to their normal lifestyle!

Cook at Home

A considerable portion of one’s expenses includes eating out. After a tiring day, not many people like to cook for themselves. Cooking at home can help people save money to pay off their debts. Everybody loves this kind of freedom, but it might do more harm than one can think.

Sell off Things that are Not Required

Many homes store things that are useless but still cover up space in the house. These things have the potential to bring a fancy amount of cash. For example, many people have old cars in their garages that they do not use but keep lying there, being eaten up by rust. People can earn extra cash and add to their debt payments by selling off such things!

People can get out of debt faster than usual by adopting these five tips in their lifestyle. When debts can be paid quickly, people can strive to achieve other financial goals and embark on a journey to achieve financial stability. Therefore, the best way to repay the debts is to think wisely and strategize smartly! By living paycheck-to-paycheck lives, people can build the grounds to become wealthy and secure a financial future for themselves and their 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.

Is it even a good idea to do land financing? Well, know now: Buying a lot to build the house or even resell is an exciting investment! But have you ever stopped to wonder if the interest of a banking operation does not end up nullifying these advantages? Be careful not to get carried away by anxiety. Maintaining prudence at all stages of the procurement process would be best. As we talk about a high-value investment, you must be careful and put the bills at the tip of the pencil. So, you can compare with the alternatives, such as the consortium, to see which is more attractive.

Follow the post today to evaluate whether the consortium is viable and learn the cost of financing land.

How does the real estate consortium work? Those who want to finance the Housing Finance System (SFH) find it difficult to acquire land without construction. This is because the idea behind the program is to favor the acquisition of their housing. Some banks offer alternative financing lines for the purchase of lots. However, the interest rate is even higher than that charged by SFH and the Financial Real Estate System (SFI). Thus, the purchase comes out much heavier for the pocket. Some people still do not know that you can also use the real estate consortium for land acquisition! That’s right; there are no impediments to this. Therefore, it is allowed to buy simple or under-construction lots in urban or rural areas.

Enjoy knowing some of the characteristics of this modality: security: the Central Bank supervises it; Accessibility: does not require payment of entry; Practically: can cover up to notary fees; Economy: no interest collection; Flexibility: it has longer-term options; Facility: has more affordable plots; Bargaining power: the letter of credit is worth as cash payment. A pause to better explain the cost of the notary’s office: who buys land through the real estate consortium can also use part of the value of the letter of credit to pay the fees charged in releasing the documentation of the property. Did you buy the land and still have a balance of the letter of credit? Then, you can use it to pay for the notary fees, documentation, and taxes! Why is it an alternative to financing? Many people who want to buy land soon face financing constraints. Also, due to the abusive interest in the modality, the financial value is much higher than the initial one. Yes, the loss is significant. Want to get an idea? Do the math! Imagine you want to finance land that costs $100 thousand in 180 months.

Find a bank that practices a rate of 8% a year (equivalent to 0.6434% per month) and finances a maximum of 0% of the land value. You will, therefore, give 20 thousand inputs. When making the account using a financial calculator, you will see that the amount will be $751.68 under these conditions. when you get under these conditions, the bank will come up with a figure well above that! They will be included in the value: Bank fees, tax collection, insurance, and other added products. All this is embedded in the amount to be financed, composing the final installment! Key areas to consider.

Consortium Governance

Bidders in any competitive auction procedure need to progress decisively and quickly, so clumsy decision-making needs to be avoided to facilitate an agile and coherent approach toward the customer. In private equity-led consortiums, often, 1 or 2 lead sponsors are handed authority to make almost every decision for the benefit of the consortium and give a single focal point for commercial and legal diligence. Without any lead, investors can risk leading themselves to a deadlock or profuse sellers with a jammed negotiating table and overlapping conscientiousness processes.

Once the deal is acknowledged, governance is commonly allocated correlatively to each consortium member’s economic commitment concerning the exercise of rights under the accession documents and typically the organization of the investment. Somg or strategic partners may be assigned outsized rights to remember their valuable non-fiscal contribution to the consortium. With few consortiums of 2 or 3 parties, it is ordinary for many affairs to require agreement. 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.

With Business, the ‘risk’ is something that naturally tags along. You cannot expect to face little or no risks at all. But there is always a way out.

Why do so many organizations embark on high-risk plans without demanding a robust project guarantee?

Projects fail for various reasons. Recent universal studies specify that poor risk management is a common cause. Active project managers intend to resolve high levels of contact before they happen via methodical risk management procedures.

Most projects are characteristically exposed to many risks and are frequently noteworthy in scale, complexity, and determination. Favoritism toward being overoptimistic can typically negatively impact large-scale projects.

Incomplete or inadequate info increases exposure that habitually results in over-estimating aids and underestimating charges. Managing macro and micro-level events linked to accomplishing project deliverables while balancing the needs of numerous stakeholders has become progressively vital.

Measuring risks at both portfolios and workstream levels helps upsurge confidence that hazards are understood.

Project Risk Management

This risk management emphasizes recognizing, responding to, and analyzing project events.

It should be intended to recognize and handle levels of doubt analytically and probable threats to achieve project aims effectively.

Risk management procedures should be reiterative throughout a plan’s life cycle and fixed in project management preparation and events. Smaller projects frequently require little work and interrupted monitoring.

Complex projects require formalized processes to analyze, handle, and report risks.

Good reporting depends on explicit descriptions of all contacts, their influence on the projects, and possible costs for extenuation and inaction. Difficulties happen when there is poor visibility of jeopardies at a portfolio, and project levels or risk management tactics are ad hoc and unpredictable.

Project and Portfolio Risk Assessments

Project and portfolio risk valuations should be assumed to comprehend their risk profiles and related threats and to attain business aims.

Assessments should classify the action plans to address the recognized risks and assign executive accountability for achieving them. It would be best if you approved added risk assessments on designated projects.

Risk management processes are ongoing and monitored through a project’s life cycle. Regular risk reports offer Project Sponsors, Steering Groups, and Senior Responsible Officers better discern projects’ risk profiles.

Whether you are accountable for overseeing or managing a project, a robust project guarantee will help you address the hazards that threaten its victory.

With a few risk management steps, you can deliver an efficient and straightforward risk management process.

Identify the risk

Start your process by recognizing risks affecting your project and outcomes.

Analyze the risk

Once the risk is identified, you can determine every chance’s possibility or consequence. This way, you can understand the nature of the risk and its potential to affect your objectives and project goals. Secure the information in the Project Risk Register.

Evaluate the risk

You may now evaluate or rank the risks by determining their magnitude, a combination of possibilities and consequences. You decide if the risk is acceptable or severe enough to seek treatment. Add these risks to your Project Risk Management.

Treat the risk

 Treat the risk, better known as Risk Response Planning, helps you access the highest-ranked risks and create a plan to treat or modify them to accomplish acceptable risk levels. In this step, create risk mitigation approaches, contingencies, and preventive strategies. Then, add the risk treatment measures to the highest-ranking or most severe risks again to the Project Risk Register.

Monitor & review the risk

In this step, take your register of Project Risk and use it to monitor, review, and track risks.

Risks are all about uncertainty. Putting a framework around it can effectively de-risk the project. Meaning you can move confidently to achieve your goals. When you manage and identify a comprehensive list of project risks, you can reduce unwelcome surprises and discover opportunities. Risk management is a way to help resolve problems when they show up, as well as help in making plans to treat them. The whole process allows you to avoid impulsive reactions to rectify issues that you can anticipate. The result is that you will minimize the influences of the project threats and capture opportunities that arise. 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.