Author: Complete Controller

Understanding the nuanced distinction between good and bad debts is paramount in personal and corporate finance. While debts are conventionally categorized as either productive or unproductive based on their utility and sustainability, it’s crucial to recognize the role of planning in debt management. Regardless of this classification, effective planning can mitigate risks and enhance sustainability.

In this context, we explore key strategies to avoid falling into the trap of bad debts, including meticulous planning, focus on essential expenditures, proactive expense tracking, and preventing unnecessary debts. By implementing these principles, individuals and businesses can navigate the complex terrain of debts with confidence and foresight, ensuring that financial decisions align with long-term goals and values and fostering financial stability and peace of mind.

Difference Between Bad Debts and Good Debts

According to scholars of personal and corporate finance, debts can be classified into good and bad based on their use and purpose.

In other words, debts are neither good nor bad, but depending on what they are going to do with them and what their purpose is, they are determined to be adequate debts or not. The correct term to refer to them is productive and unproductive.

In this sense, good debts can add value to what is being done, and you can pay that with productive activity. In other words, it is the debts that are “self-sustainable.”

Are All Debts Good, Right, and All Bad, Bad? 

Based on the above, everything seems clear about what bad debts are and are not. However, although these are the definitions provided by books and scholars of finance, I allow myself to differ from them. Since, for me, the debts are good or bad depending on the planning.

Note that what is alluded to in the outstanding debt, referring to it as good, is that you can sustain it, and the bad one has nowhere to sustain itself. So, the issue focuses on the sustainability of the debt. Therefore, to the extent that the debt is sustainable, it is good, and it should not be based on whether it is productive.

Keys to Avoid Bad Debts

In that sense, I want to share some keys that you can implement in your personal or business financial management to avoid taking on bad debts. But they are under what you bring value, not necessarily money, but also the peace and tranquility you need.

Plan Your Debt

The first key you must consider to avoid bad debts is the planning of your mortgage. It is not prudent or logical to make a quick mental calculation of whether you can pay. But you must analyze, coldly and consciously, if you can assume this responsibility, which usually has a minimum of 6 to 12 months.

For this, you must see how your cash flow is. You must understand how much you earn and how much you spend to determine whether that difference covers the monthly fee you will pay. You must, within that same analysis, elaborate on your financial behavior during the month.

Focus on What Matters

Then, plan your debt and see the effect it would have on your cash flow. You must focus on what matters, which means that you should not get into debt.

Identify if You Can Avoid Debt

The final key I want to offer you is the one that can be the most important. It prevents you from taking bad debts and is to see if you can avoid getting into debt.

Create a Report for Tracking Your Expenses

Tracking your expenses gives you many benefits as it prevents excessive debt problems. Also, you can save sound money for the future. You must know how much you spend and save and your unnecessary expenditures. For this, making a proper sheet or report highlighting all your monthly expenses is better. You will get an accurate result when you update it regularly. Pay all your bills on your cards and accounts if you don’t want to be a debtor.

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.

Are you autonomous, and do you have to create invoices often? Does it happen to you that you often make mistakes in the invoices? Sometimes, we are not prepared to do the simplest thing because without going further, creating invoices is a simple task that we do repetitively without thinking, which gives rise to many human errors that can have consequences.

Billing errors can occur out of position in your accounting, generating confusion and doubts in your customers or even making you pay disgraces. In short, making mistakes when making invoices can also be very expensive.

What mistakes happen when creating an invoice? Here are six failures you should avoid. Several shortcomings can sometimes occur in the creation of invoices. These are some of the essential elements.

Jumps in Invoice Numbers

As you know, invoices must have a numbering. This numbering must be logical and consecutive. It is incorrect that there are jumps from one numbering to another or that we make subsequent invoices with a previous numbering.

Before inspecting the treasury, all these errors can indicate that your invoice book does not collect everything you are invoicing. They may be minor mistakes, but it’s worth not taking a risk.

Billing After Unsubscribing

Invoice creation is a serious matter. If you will unsubscribe as a freelancer, you better make the invoices before and with the correct date. Making post-discharge invoices as a self-employed person can lead to difficulties if the treasury asks you for the invoices since if you are discharged, you can no longer generate invoices.

Some freelancers sometimes unsubscribe during the year when they do not invoice enough and then register to create the invoices. You must be careful since it is not as simple as signing up for a month, billing everything, then unsubscribing, and staying like this for the rest of the year.

Make Invoices Without the Correct VAT

There are different types of VAT: 4%, 10%, and 21%. Depending on the type of activity, product, and service, one type of VAT applies. It should also be clear that you will not always have to include VAT in the invoice, for example, if you make invoices to other companies in the Canary Islands or an extra EU country.

Also, consider your situation concerning intra-EU countries. To avoid VAT on an invoice of this type, you must register in the Registry of Intra-Community Operators and that your client is also. If you have a European NIF / CIF and your client is in VIES, you can avoid VAT.

Do Not Clarify the Concept of the Service and Product

The product or service you have sold must be clear on the invoices you make. Your client can be clear about what he has bought, and you are asking to present the invoices to the Tax Agency for the case.

If you want clear invoice concepts, it is best to program them correctly. For instance, if the business sells products, it is straightforward to create an inventory with the names of the products and ensure that these appear clear.

Do Not Include Personal Income Tax Withholding When Applicable

If you are self-employed, you usually work with companies, which is a requirement by the professional activity you are in. You must include invoices with an IRPF withholding. That means you must apply a -15% withholding tax base, which will be borne by the company you collaborate with.

If you are a newly self-employed person, you can put an income tax withholding of 7% during the first three years, which will leave you, in theory, more liquidity if you do not invoice much.

Wrong Date On Your Invoices

The date of your invoices must be consecutive. You cannot create an invoice of number 071 dated May 15 and then a 072 invoice dated January 1. It must make each invoice within the corresponding quarterly period since you will pay VAT and may have to advance personal income tax; that way, the numbers do not add up.

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.

Those who wish to realize dreams in a planned way can rely on the different types of consortiums to help in this journey. And the best, many people do not know, but conquering much more than vehicles and real estate through the consortium is possible. Did you know that there is, for example, an appliance consortium?

You can choose the most suitable consortium according to your needs and thus get what you want without exceeding your monthly budget or paying high-interest loans. Learn more about the consortium and the different modalities you can hire!

What Types of Consortia Exist?

Unlike many people think, the consortium is not just for buying goods. It is more than possible if you plan to hire several services! Through the consortium, you can, for example:

• Perform a renovation in the house to leave her as she always dreamed
• Organize a party, be it an anniversary, wedding, or graduation
• Planning a trip and sightseeing in paradisiacal places
• Buy more modern and economical appliances for your home
• Do aesthetic procedures to raise self-esteem
• Perform expensive health care procedures to pay cash

It is essential to choose the mode you are going to hire carefully. After all, it’s not because “everything is even consortium” that you can get into a group to buy a car and then use the money to make a trip, for example. Each contract provides a specific form of use of the letter of credit.

So, let’s get down to business! From now on, check out the main types of consortium to see which one truly meets your needs.

The Consortium of Motor Vehicles, Boats, and Aircraft

The consortium is the most popular and often more targeted type for buying cars and motorcycles. But know, you can find consortia for new and semi-new vehicles, trucks, tractors, and even aircraft!

But each type of consortium has a specific audience, of course. See if the vehicle suits your personal or professional needs and whether the monthly installments are within your budget.

There are many advantages to buying vehicles through consortiums! You do long-term planning and do not have to submit to interest on financing and leasing, which can significantly burden the product’s price.

In addition, you can do more than one consortium simultaneously or in sequence when it is contemplated, for example. Multiples help entrepreneurs who want to expand their business in a planned way.

The Consortium of Appliances and Other Movable Property

Some hire consortiums to buy computers, more modern devices, and even planned furniture. However, as this is an inexpensive good, the consortium for home appliances is not so popular.

But it is good to know that it exists! After all, it may be cheaper to join a consortium group than to use in-store cards because the price usually changes a lot.

An appliance consortium allows you to purchase the most varied items, including:

• Refrigerators
• Televisions
• Computers
• Tablets

Real Estate Consortium

Many also acquire consortiums to buy houses, apartments, seasonal homes, rural properties, and plants. As this good is usually costly to allow for cash purchase, the real estate consortium is very popular.  

In addition, it is an attractive option because it offers many savings and more flexible conditions than the financing lines of the Housing Financial System (SFH).

Look, anyone who owns a home cannot finance another through SFH. Likewise, this line of credit does not allow the purchase of land without construction or real estate for commercial purposes since it aims to acquire a dwelling. But the consortium has no limitations; you choose the property according to your needs!

Conclusion

In conclusion, consortiums offer diverse avenues for realizing dreams systematically. Beyond vehicles and real estate, many are unaware of the myriad possibilities, from appliances to aesthetic procedures, that can be acquired through these arrangements. Careful selection of the appropriate consortium aligns with personal needs while staying within budgetary constraints.

Whether for vehicles, appliances, or real estate, consortiums offer a strategic pathway to achieving aspirations without the burden of high-interest loans. Understanding each contract’s specific terms is essential to maximize the benefits of the offered credit. With consortiums, individuals can confidently embark on their desired ventures, supported by flexible and cost-effective financing options.

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.

In the U.S., in most states, you are required to carry car insurance. This requirement means that every person who owns a vehicle must obtain it. Therefore, the car insurance business is highly competitive. This competitiveness equals a lot of savings to customers when purchasing car insurance.

Though the recent pandemic saw a significant dip in car sales in 2020, the economy is recovering, and car sales are on the rise. Most people opt for owning or leasing a vehicle rather than using public transportation, so car insurance is a must.

There are several factors to consider when purchasing a car and the insurance that goes with it. Sometimes, your car purchase decisions may hinge on how much it will cost to insure it each month. Therefore, you must consider the cost to insure it before purchasing your car.

Comprehensive Car Insurance

When we think of insurance, the first thing that comes to mind is to protect our car from theft or a collision, assuming that other drivers are the ones who drive badly. You can be the most careful driver with defensive driving skills and still be vulnerable to accidents, theft, or damage done by acts of God.

However, when purchasing car insurance, you must cover for what other drivers may do. If you get into an accident with an uninsured driver, even if they are at fault, your insurance will have to cover you if you expect to replace or repair your car.

Understanding Car Insurance

There are other accident factors to consider that will cause your insurance to be engaged to cover the damage. These factors could include a hit-and-run, where the damage was done while your car was parked, or single-car accidents in which you have hit an object or animal, causing damage.

If you carry basic liability insurance required by most states, it will not cover you if you have an accident. Liability insurance covers you if you are at fault and cause damage to another person’s vehicle. While only carrying what is required by law is cheaper, you must factor in your needs in an accident where another person’s insurance will not cover the damage.

Insurance Considerations for Financed Cars

If you are financing your car, most lending institutions require full coverage if the car is damaged before you fully own it. When getting a quote for your insurance coverage, you must factor in what is required by law and the lending company. However, you may also want to add some benefits to your coverage, such as roadside assistance and car rental coverage.

Most insurance companies have a minimal cost added if you need roadside assistance. Therefore, it could be economical to add to your monthly insurance cost in most cases. Car insurance companies generally have a website on which you can adjust to find the costs of various types of coverage.

Choosing Car Insurance

When determining what coverage you need, you should apply the old saying, “It is better to have it and not need it than to need it and not have it.” In most cases, you should insure your vehicle for the most you can afford, depending on its value.

There are many policies for your car, with more or fewer services, and with more or less coverage. Find the one that suits your needs. Remember that the greater the coverage and services, the higher the price—request options, especially for different coverages. You will be surprised by the existing offer.

Conclusion

Take some time and read your policy, ask for help from your advisor, or approach your insurance company for information on your coverages; it is essential to know your benefits and, above all, your obligations. The policy is a contract, so you must know it. It doesn’t matter if you drive a newer vehicle or an old model; you need to be covered just in case life plans hit you or your car.

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.

Imagine what the world would be like without cars. Now, think about self-driving cars with you sitting in the driving seat. The first thought may be a figment of your imagination, but the second is not. On the contrary, self-driving vehicles are as accurate as humans, just different. Companies such as Google and Waymo are working on a self-drive car and do so with utmost ease.

There were challenges in developing this technology, and some vendors are still testing their variants. Google’s self-driving car was a concept that became a reality thanks to the relentless focus on the company hierarchy on developing a quality product for the masses while keeping it affordable.

The Technology

Many companies are doing their bit to develop self-driving cars. It is just a matter of time before you investigate the history of these vehicles. The overall development continues, but there have been instances when companies tested these cars. When we discuss self-driving cars, Google’s self-driving automobile comes to mind. The car has been around since 2006 and has been going through rigorous testing.

The car is a marvel of cutting-edge technology, combining microchip-based processing units and software to make the vehicle work. Google has been rigorously working on and testing many prototype vehicles for years. The self-driving car has covered several laps of 100-mile runs and continues to do so. The self-driving car is going through a testing phase, during which the technology is tested for reliability, affordability, and the response of systems installed. The car is expected to include limited functionality with other manually controlled functions. The driver can choose to have the drive and park the vehicle manually or automatically. Automatic assisting for brakes is also there for improved survivability.

Once the prototype phase is over, many companies will jump in with their self-driving cars and robots. Self-driving vehicles are anticipated to be a common sight on the road soon enough. Delays in the project are just a matter of time, and these cars will be on roads before 2030. The improving technology proves that these cars are about to hit production.  

Big Players Jumping In

Self-driving cars continue to hold promise as a significant development in transportation, with numerous automobile manufacturers increasingly investing in their development. Companies like Tesla, General Motors, and Ford actively explore and test autonomous vehicle technologies. While progress has been made, the widespread deployment of fully autonomous vehicles has yet to materialize as initially predicted.

Despite optimistic projections, the timeline for the widespread adoption of self-driving cars has yet to be pushed back. Challenges such as regulatory hurdles, safety concerns, and technological limitations persist, contributing to delays in realizing a fully autonomous driving future. However, ongoing research and development efforts suggest that self-driving cars remain a viable and evolving frontier in the automotive industry.

Despite these challenges, Waymo remains at the forefront of self-driving technology development. They have expanded their testing programs, formed partnerships with automotive manufacturers and ride-hailing companies, and continued to innovate in areas such as sensor technology, artificial intelligence, and machine learning. While the timeline for achieving widespread adoption of fully autonomous vehicles may have shifted, Waymo’s dedication to advancing self-driving technology underscores autonomous transportation’s enduring significance and potential.

The Future of Cars

Driving a car can be a hectic experience if you are not used to it. Taking your vehicle for a long drive can make you feel tired and frustrated. Surprisingly, humans tend to feel bored and tired even when driving a luxury car with top-line features. With intelligent vehicles soon to hit the road, you need not worry about getting exhausted and bored.

The revolution is just around the corner, with many vendors trying to include features that will get you to your desired place in no time. Self-driving vehicles are all set to help you make significant savings without compromising your family’s safety.

What About Production?

The company completed prototypes years ago, but improvements to the design drive comfort, automation, and integration. These vehicles will revolutionize the way we drive in many ways. Automated cars will help us make significant savings on fuel economy without compromising on mileage. Two concepts are being worked upon – hybrid and electric propulsion cars. Both will improve fuel economy through a cutting-edge ecosystem that monitors the fuel status and displays the driver’s information. The driver will be there and can take over by pressing a button if he prefers.

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 is the Internal Rate of Return (IRR)?

According to Expansion, “The IRR of a financial debt asset is that one rate of discount or discount that equals the price of a bond with the flow of payments generated by the bond. In the case of debt assets, it is an indicator that reports on the average annual return on the maturity of a bond or obligation. It is useful when comparing bonds with various characteristics, coupons, and maturities. “

What is the Coupon, and How Does it Differ from the IRR (Yield)?

The coupon is the interest the bondholder will receive periodically for lending money to the issuing company/state. It is a fixed percentage established contractually, expressed in the bond’s prospectus.

The bonds become issued with a nominal value of $100 (or any of its multiples). This is when the coupon matches the return. Once they start trading on the market, their prices fluctuate according to supply and demand. In these cases, it is where the IRR can get away from the coupon. Each investor will buy the flow of funds (coupons + capital amortizations) at a specific value given by the current bond price. This price will determine the performance of each investor.

What is the Relationship Between the IRR and the Price of the Bond?

The price of a bond is based on its performance and has an inverse relationship. If the bond price drops, we buy it cheaper, so we have more profitability, and the IRR will increase. In other words, the investor is willing to pay less for the same flow of funds. If, on the contrary, the bond price goes up, we will buy it more expensive so that we will obtain less profitability, and the IRR will go down. In other words, the investor is willing to pay more for the same cash flow and coupon.

Issues to consider

The IRR calculated at the time of investing in the return that we will obtain at the end of the term and includes three elements:

• Coupons receivable throughout the life of the voucher
• Collection of the principal (capital amortizations)
• Reinvestment of coupons

What conclusions can we obtain?

For each sheet with a nominal value of $100, we will receive $8,375 annually in interest to be paid semi-annually.

• The bond is quoted on par. The purchase price is $117 (greater than $100).
• Consequently, the 8.375% coupon is higher than the 6.71% yield.
• The company will only obtain a yield of 6.71% if we keep the bond until maturity and reinvest the coupons to this same IRR. If we do it at a lower rate, we will obtain a lower yield; if it is at a higher rate, the product will increase.

With a duration of 10.04, the investment is expected to recover in about ten years.

American Market

The actions ended the session on Friday with a massive rally that helped push them to end the week with solid gains. The barrel price presented a recovery, and the shares responded accordingly. The US consumer sector is currently the leading economy. The supply of properties is limited, which helps maintain and even increase prices, but this situation can be reversed if wages do not improve.  

The Bank of Japan also contributed to Friday’s rally after unexpectedly adopting a hostile interest rate policy for the first time. We should remain skeptical of the real benefits of this policy, given that Europe failed, although it is a sign that central banks are willing to act on the matter. 

The S&P 500 Index (SPX) rose 1.7% in the week, while the Dow Jones Industrial Average ($ DJI) increased the indexes by 2.3%. The Nasdaq (QQQ) had a minimum rise of 0.03%, while the small caps (RUT, IWM) rose 1.5%. The S&P 500 Index (SPX) is outside correction territory, but markets are expected to remain volatile. 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.

A mortgage loan is a loan taken by an individual to purchase real estate or by property owners to raise money for any other transaction by mortgaging their property. A mortgage loan is one of the most common loans taken by individuals and businesses. Mortgage loans have an interest rate and amortize over some time, usually 30 years. This article discusses various types of mortgage loans and helps you decide the right one for you!

Fixed-Rate Loans

A fixed-rate loan is one of the most uncomplicated mortgage loans. The borrower must pay a single monthly interest rate, which usually ranges between 15-30%. The loan is for homeowners who avoid taking risks and want to pay a fixed amount until the life of the loan. The changes in the interest rate in the economy will not impact the mortgage loan; therefore, the borrower enjoys high predictability. However, a Fixed-Rate Loan is not for people who plan on moving to another house soon.

FHA Loan

An FHA loan is a type of mortgage insured by the Federal Housing Administration and is very popular amongst people buying their first home. The loan allows a down payment of 3.5% for people with a score above 580. The loan for people with credit scores between 500-579 gets a 10% down payment. The interest will be higher for people with low credit scores. To get an FHA loan, the borrower must be at least two years out of bankruptcy with a well-established credit score after the bankruptcy. 

Conventional Mortgages

A conventional mortgage is a mortgage that the federal government does not insure. There are two types of traditional loans: non-conforming and conforming loans. A conforming loan is a loan that is within limits set by Freddie Mac or Fannie Mae. Non-conforming loans do not meet any such guidelines. The lenders pay private mortgage insurance on various conventional loans when 20% of the purchase price of the real estate is settled. The overall cost of borrowing a traditional mortgage is lower than other mortgages. However, sometimes the interest rate is higher. 

Adjustable-Rate Mortgage

An adjustable-rate mortgage has an interest that keeps changing throughout the loan, with the country’s interest rate changing. The loan initially has a fixed interest rate for five to ten years, after which the interest rate changes as per the prevailing interest rate. The variable interest rate is based on an index rate benchmark that varies with the market conditions. The borrower enjoys a lower interest rate in the fixed-rate period than a traditional fixed-rate loan. 

Non-Confirming Loans

Non-conforming loans are loans that exceed the limits of conforming loans. The conforming loan limit Fannie Mae and Freddie Mac set is $424,100 for the United States. The loan limit may go up to $635,050 for high-cost areas of the United States. 

There are various types of Conforming Loans. A Jumbo Loan is a loan given to borrowers when the limit of their respective area has been exceeded. However, since the amount is higher, the Jumbo Loan is difficult to get. Most lenders require a score above 680 to qualify for the Jumbo Loan and a 15% – 20% down payment. Jumbo Loans go over 1 million and are called Super Jumbo Loans. Lenders may give up to 3 million to borrowers with an excellent credit score. 

Cash-Out Refinance

A Cash-Out Refinance means that the mortgage is refinanced, and the cash is acquired using the house’s equity. The borrower will have to make one monthly mortgage payment, and the interest rates are lower than other equity loans. You can cash around 80% of the house’s value with the Cas-Out Refinance loan. 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.

Among the many mistakes you can make in finance, one of the most damaging is extra expenses. We often lie to ourselves to make certain purchases and not feel guilty. But to tell you the truth, we could use our money better or even wait to buy it comfortably.

Unnecessary Expenses

You don’t necessarily have to be going through the wrong economic time to eliminate this type of expense. It never hurts to modify our habits that affect finances. We have a list of the most prominent and, without a doubt, those you can do without it.

1. Clothing for events

It is usually an enormous expense and an article you cannot use very often. There is always the option of renting a suit or dress, so you do not have to spend large amounts. Besides, most of the time, after using it, you should send it to the dry cleaner or to a special wash, which is also not economical. As another option, you can also borrow from your friends.

2. Prepared and cut foods

It is undoubtedly very comfortable, but such products have a higher cost to save a few minutes. What you can do is better organize your time to save this money.

3. Gym clothes

Apart from the sneakers, any other garment you use will not affect your physical activity performance. The primary use of sportswear will be to soak in sweat. That is why you should wear an old shirt or shorts, instead of expensive ones. When you go to the gym or go jogging, it is an activity to develop. You do not do it so that your clothes combine or try to get a partner. If this is the best case, you should visit restaurants or clubs.

4. Newspapers and magazines

More and more in past generations sitting down to read the newspaper and magazines while having coffee. Now, the information is usually consumed electronically. Even so, most newspapers and magazines are complimentary. While taking care of the environment, it saves money by buying magazines and printed newspapers. Although some have a cost in their electronic version, this is usually much lower for a monthly or annual subscription than the printed version.

5. USB storage memories

These types of products are offered because people are buying fewer and fewer memories. With so much technology available, sending the information through email, shared documents, or uploading it to the cloud is possible. All this is because its primary use is transporting or sending documents to print or delivering jobs and tasks.

6. Expensive appliances

It is not necessary to have a machine for hot sandwiches or to make waffles. You can certainly survive without these appliances. They are not cheap products, and you can also find alternatives such as bread in the pan, toaster, or hotcakes. These types of products are known as luxury and impractical products.

7. Lack of personal awareness

You must have self-awareness, as it can severely affect your finances if you don’t have it. It also makes all the difference in your mindset around your money. Your financial progress will be ruined and quickly out to creep. It will happen when you don’t know about yourself and your money tendencies.

You must know which thing you are attracting, and you should protect yourself. Make sure you want to be a spender or saver. You must know you are a nerd or an unpaid spirit. Is your safety valuable or status? Take classes of a free quiz to find the reason behind handling the income you wish. Learning how to break lousy money habits for good would be best.

8. Money management resources

With complete financial knowledge, people quickly transform their passion into a profession. If you want to manage your cash rightly and have some exciting stories, you can get the best financial advice from an expert. By learning inspiring stories, you can efficiently focus on the best version of yourself in finance and investment. Be careful while following the expert’s advice, as you should take the core pieces of advice that can help you solve your savings. If your financial jargon may be out of your league, apply more for those kernels of wisdom.

You should always keep yourself well-informed, and practice sound financial management. As a result, you can become the best personal financial expert, or you must hire thousands. If you are not a millionaire, you should share your content and strive to exercise your expertise on the right track to manage your money. 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.

Asking for a salary increment from your boss is probably like paying taxes, and cleaning gutters is your favorite thing to do. But having a freezing salary lets you compel for this request.

According to the Bureau of Labor Statistics report, from 2012 to 2013, American compensation increased by around 1.9%. According to the research of executive search firm Salveson Stetson Group in the US, the settlement of senior executives who transferred last year increased up to 17%. Now, you dare to speak up for your salary increment as you should.

Asking for a salary increase is something deeply rooted in Anglo-Saxon culture. However, here we are still “afraid” of asking for something that undoubtedly corresponds to us if we have been doing our job well. Let’s see what you can do to ask your boss if it is time to raise your salary.

1. Choose the time to ask for the salary increase

The first thing you must do is find the right time. If you have been in the company for a while, you already know whether it works well. You will even know how to detect the signs that indicate if you are in a moment of prosperity or if problems are coming.

2. Follow the internal protocol

Your performance may be so good that you deserve a salary increase. But your request may fall into the broken sack if you ask for it inappropriately or to someone with no decision-making capacity on this issue.

Each company has an internal protocol for this type of thing. You should know the one that applies to yours. The best thing is to make the process as formal as possible. Please don’t talk about it. They are your boss while you drink coffee or comment on it while preparing for a meeting. Please make an appointment with him, indicating the topic you want to discuss.

3. Prepare your exhibition

Indeed, in your company, they already know how valuable you are. Still, if you ask for a salary increase, you must “sell” a bit, highlighting all the good you have contributed and can contribute. You better not leave anything to improvise. Prepare a small script that collects all your arguments a few days before the meeting.

4. Prepare the documentation

When talking to your boss, we have just pointed out that there is nothing about looking at the “chop” with the script to defend your arguments. But what you should have on hand and show your interlocutor are the documents that can help your opinion.

You should bring documents highlighting your value in the company: essential reports that you have prepared, over time that you have done, and tasks that are not your own and that you have appropriately done when replacing a partner, etc.

5. Don’t focus only on yourself

If you ask for a salary increase, the conversation will revolve around you. Still, it would be best not to forget to value the company. Let your boss know you are comfortable with your work and appreciate what the company brings you. You want this relationship to be long-term because of what you contribute to the company and what she brings to you. A salary increase would help strengthen that relationship.

6. Ask without demanding and without specifying

If you have decided to be brave and ask for a raise, do not back down when asking, but do it with discretion. Experts advise not to ask for a specific figure. Instead of asking for a certain amount, propose an upward revision of the salary range to your interlocutor. In this way, you are leaving the decision on how much you can increase your salary.

7. What should you do at the time of request rejection?

Undoubtedly, hearing or facing rejection is the most challenging feeling. But don’t give up or be discouraged. Ask in a simple tone when you will get a raise in salary in the future. It will be the green signal if your boss makes an excuse for the poorly structured company. If your boss explains how to step forward your game for the coming go-round, it won’t be the end of the story.

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.

Investments come in many forms. You can invest in businesses, stocks, bonds, and many other options. However, real estate investing is unique in several ways. When many think of investing in real estate, they envision it as costly.

Purchasing property can be expensive. However, there are ways to invest in real estate, even if negative financial issues prevent you from investing. Also, real estate investment comes in many forms and may involve several properties. There are many reasons for using this option, and it may vary from one person to another.

How to make a profit? What are the risks? What about taxation? What are the different types of real estate investments that exist? Here are the answers to these questions and the reasons you should consider investing in real estate.

• Establishing a Legacy: Though many of us invest to earn income, you should also consider what you leave behind for your family. It would help to believe what you leave behind for your children and grandchildren. Everyone wants to leave behind a mark. Setting your family up for the future is a priority when making investments.

• Preparing for Retirement: Another reason to invest in real estate is to finance your retirement. Most people reaching retirement age will not make ends meet, relying strictly on social security. Real estate can help solve this issue and give you peace of mind during retirement.

• Save on Taxes: Real estate often has significant tax breaks. Those who understand tax exemptions have understood the principle and indulged them to their heart’s content. However, it is essential to remember to focus on the bottom line. While reducing taxes, you should also be able to grow your net income.

• The Enjoyment of Owning Real Estate: Owning real estate and using it as income can be completely satisfying. Many people look at the financial bottom line and don’t realize that investing in real estate can be fun and profitable. Owning and managing real estate can be a highly satisfying investment opportunity.
• Real Estate is Here to Stay: While many other investment opportunities may be a trend or short-term, real estate is an investment that will never become obsolete. Until the end of time, people will need a place to live. Though real estate and homes may change with innovation, the basic need for housing will not change.

Why Should You Invest in Real Estate?

As an active person, it is essential to build up savings. The rental is recommended if there are many opportunities for real estate investment. This makes it easier to build your wealth and grow it over time. As for the question of where to invest, you should choose a city with high dynamism. Only in this way can you ensure good profitability.

Some people opt to invest in beautiful neighborhoods. Only it is not always paying. You will benefit more from a small studio in a high-traffic area than a house in a nice neighborhood. In this case, the price per square meter is relatively high, directly affecting the rent. As a result, the room for maneuvering is reduced, and your customers are, too.

Conclusion

As mentioned earlier, real estate has become a solution to find many people securing their assets. This is why the market has continued to increase and has more enticing offers than others. Some people use intermediaries, but is this a good option? Everything depends, but some owners prefer to delegate the various administrative procedures. 

The advantage of this option is that you can go to other occupations while looking for tenants. As can be imagined, the intermediary will be paid for the services rendered. By using a real estate agency, you will pay a fee. This is why it is recommended to evaluate the situation before starting.

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.