Author: Complete Controller

When you think of investing in a business, we are sure you wouldn’t have ever considered investing in trees. Isn’t that so? Well, nobody would have thought of that. Even saying that sounds so foreign, like a strange combination of words rolling off your tongue.

But no matter how odd it may sound, many people invest in the Timber market, and they know it’s the best decision they have ever made in their life (apart from their spouses if they are reading it beside you!)

We know lumber is a commodity used for furniture, paper, and burning. But why would you invest in something that is used for burning? That’s the beauty of this investment. Here are five reasons you should invest in the timber market.

Steadiness and Reliability

As you enter the timber market, you will realize how steady and reliable this business is. There are many other businesses that you can invest in, but it’s a rollercoaster ride with them. Why take the risk when you have a much more reliable investment option?

Even in 2020, many businesses lost money due to the pandemic. Like that, other businesses are not that steady, and if you aren’t a fan of uncertainty, you should invest in the timber market. It’s a stable and reliable business.

Once you see it, you will understand how you earn money through this business. It’s not like stocks and bonds. You will get a paper, and you will have to assume that there’s a legit company behind it.

When individuals think of investing in the timber market, they check out the timberland themselves. You should know before investing that old trees cost more than young trees. And it would help if you kept hold of young trees for them to grow old.

Easy Investment

When you invest in the timber market, you invest in the timberland. All you have to do is sign the papers; the land will be yours. If you aren’t willing to invest in the timber market directly, you don’t need to worry because you can invest without involving the direct ownership of the land. But how?

You can invest indirectly through a real estate investment trust (REIT). REITs are trusts investing in real estate. You can easily invest in the timber market for as much money as you wish through timber-focused REITs.

It’s Convenient

When you invest in the timber market, you don’t have to do anything. You sign the papers, hold the timberland, and other things will get simple for you. Either you lease the land or sell the trees to someone, and the investment will eventually pay off in large sums. Also, if you are saving the forest project called reforestation, the income can come in significant ways.

Many invest in the timber market, hoping to pass it down to their grandkids.

A Hedge Against Inflation

This investment saves the investors from significant losses when there is a fluctuation in the currency. Some people opt for gold because it’s an asset that can keep you when the country’s economy is down. But if you wish to save yourself from the game of insurance, wild swings, and holding fees, you should invest in the timber market.

It’s proven to be one of the effective ways to save investors money when the value of a country’s currency begins to decline. 

Good Land is Valuable

Investing in the timer market means investing in a good, profitable land. When there’s land with older trees, the profit will come through harvesting. The investment won’t go in vain when there are younger trees because you will be living licenses to the anglers and hunters.

Investing in the Timber market won’t make you regret it because the volume of trees keeps increasing, which adds value no matter the situation of the state’s currency. Even if timber prices aren’t in favor, the timber stock can be saved up and grow until the prices are in favor again. Investing in the timber market rather than stocks, gold, and bonds is better. You can enjoy while owning timberland without worrying about losing money in stock or bonds.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By: Jennifer Brazer

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

Fact Checked By: Brittany McMillen

Amazon Affiliate Marketing: Turn Your Product Knowledge Into Extra Income

I remember the first $83 I made from affiliate marketing—it wasn’t much, but it lit a fire. I was promoting a Bluetooth speaker, wrote a genuine review, and included my Amazon link. Two days later, a sale. That’s when I realized affiliate marketing isn’t about selling—it’s about connecting the right product to the right person.

If you’re an Amazon seller, you’re sitting on gold you haven’t mined yet. Affiliate marketing isn’t just for influencers or bloggers. As a seller, you’re already in the ecosystem. You know the products. You understand the trends. Now it’s time to turn that inside knowledge into another income stream.

What is Affiliate Marketing?

Affiliate marketing is a commission-based model where you earn a percentage every time someone buys a product through your custom link. The average affiliate marketer earns $8,038 per month, according to recent data from Authority Hacker. That’s not pocket change—that’s serious income potential.

The global affiliate marketing industry was valued at over $18.5 billion in 2024 and is projected to grow to $31.7 billion by 2031, with an 8% compound annual growth rate. This makes it one of the fastest-growing income opportunities online.

Amazon’s program, called Amazon Associates, is one of the most accessible platforms out there. You promote products, share links with your audience (via blog, social, email, YouTube), and Amazon sends you a cut when those links lead to a sale. For those wanting to learn more, affiliate marketing for beginners resources can provide a deeper background.

What makes it perfect for Amazon sellers? You’re already plugged into products that sell. You speak the language. That gives you an edge most affiliates only wish they had.

How to Choose the Right Affiliate Programs on Amazon

Start with commission rates, then look at buyer demand. Research from Authority Hacker shows that experienced affiliate marketers (those with 3+ years of experience) earn 9.45 times more than beginners. This gap comes largely from knowing which programs to promote.

Top-performing Amazon affiliate categories include:

• Amazon Games → 20% commission
• Luxury Beauty → 10%
• Luxury Stores Beauty → 10%
• Furniture & Home Improvement → Up to 8%

Don’t just chase the percentage. A $10 product at 20% gives you $2. A $300 item at 5% gives you $15. Do that math every time before you commit. For a detailed breakdown of how these payments work, check out affiliate commissions explained.

Use tools like Google Trends and Amazon Best Sellers to check if people are actively buying in the niche. These insights can be combined with proven strategies for affiliate marketing success to maximize your returns.

📌 Real-world example: A friend of mine switched from promoting low-cost fashion to Amazon Games. With fewer clicks, she doubled her monthly earnings during the holiday season by creating strategic content around trending game releases.

Creating Content That Converts

Your job is not to “sell.” It’s to help people buy the right thing. Nearly 70% of successful affiliate marketers use SEO to drive organic traffic, according to AffiliateWP. This shows the importance of creating content that both ranks and converts.

The content that earns affiliate dollars follows a simple formula:

1. Clear headline (Example: “Top 5 Air Fryers That Won’t Waste Your Time”)
2. Honest opinions based on personal insight
3. Feature + benefit breakdown
4. Clear calls to action (Use buttons or anchor text like “Check today’s price on Amazon”)

The formats that work best:

• Product reviews with side-by-side comparisons
• “Best X for Y” roundups (e.g., best pet cameras for busy dog owners)
• Deep dives based on FAQs (e.g., Can I use this dehumidifier in basements?)

Video content increases conversion rates by 49%, making it a crucial addition to your content strategy. Implementing these best affiliate marketing tips can help you create content that both engages readers and generates sales.

⚡ Pro tip: People skim. Use bold headers, bullet points, and product images. Guide their eyes down the page toward the affiliate link, not away from it.

Strategies to Increase Affiliate Sales

You want to maximize your clicks—and more importantly, your conversions. Here’s how:

• Capitalize on seasonal shopping windows: Black Friday, Cyber Monday, and Amazon Prime Day. These periods often include boosted commission rates and red-hot buyer intent.

• Optimize your SEO: Use long-tail keywords like “best beginner wireless earbuds under $50” in your H2s and introduction.

• Improve page speed and mobile optimization: You lose trust (and sales) with a slow site.

• Use internal linking: Keep users engaged by linking related posts, keeping readers within your content ecosystem longer.

For those just starting out, check out our guide on affiliate marketing for beginners to build a strong foundation.

And remember—make your affiliate disclosures clear and compliant. This builds trust and protects your reputation. Being transparent about your affiliate relationships is not just ethical, it’s required.

Building Trust With Your Audience

Nothing kills affiliate performance faster than broken trust. The most successful affiliate marketers understand that long-term relationships with readers far outweigh short-term commissions.

Here’s how you keep it real:

• Be ultra-transparent (“I may earn a commission if you buy through my link—at no cost to you.”)

• Only recommend products you’ve used, tested, or would recommend to your own family.

• Add a comment section or feedback form for two-way interaction.

• Maintain consistency in brand voice—whether you’re blogging, tweeting, or shooting YouTube videos.

Following affiliate marketing best practices from authorities like the FTC ensures you’re building trust the right way. The goal? To build a reputation where people follow your links because they trust your opinion—not because you’re shouting the loudest.

Scaling with Tools and Platforms

Once you’re earning consistent income, it’s time to scale:

• Use Geniuslink to localize your Amazon links (it ensures buyers in Canada or the UK are sent to the right storefront)

• Create evergreen content like “Best USB-C Chargers for 2025” to drive long-term passive clicks

• Pair your blog content with short YouTube explainer videos (Google is showing video in more search results than ever)

• Build an email list – A simple weekly newsletter (“Deals I’m loving”) can drive substantial, compounding clicks over time.

• Join other affiliate networks to test non-Amazon products—diversify when it makes sense

With these tools and approaches, even a small audience can generate significant affiliate income. It’s about quality connections, not just the quantity of followers.

Conclusion: From Product Knowledge to Passive Income

Affiliate marketing isn’t hard—but it does reward strategy, honesty, and consistency. You don’t need a massive audience. You just need the right offer in front of the right person at the right time.

As an Amazon seller, you already have product instincts and a grasp of the market. Affiliate marketing just adds a second lane to your revenue highway. You’re not starting from scratch—you’re building on what you already know.

Want help leveling up your online marketing strategy and scaling profitably? Head over to Complete Controller for expert guidance built for results. We help entrepreneurs manage their finances so they can focus on growing their businesses—including new revenue streams like affiliate marketing.

FAQ

How do I join the Amazon Affiliate program?

Sign up at affiliate-program.amazon.com with your website, blog, or qualifying social media account. You’ll need to provide details about your content and how you plan to drive traffic. Amazon will review your application within 24 hours in most cases.

What are the highest commission rates on Amazon Associates?

Amazon Games tops the list with a 20% commission rate. Other high-performers include Luxury Beauty and Luxury Stores Beauty at 10%, and Furniture & Home Improvement at up to 8%. Commission rates can change, so always check the current rates before selecting categories.

Can I promote my own Amazon products as an affiliate?

No, Amazon’s terms prohibit you from earning affiliate commissions on your own products. However, you can promote complementary products that work well with items you sell, creating a complete ecosystem for your customers.

How long does it take to start earning significant affiliate income?

Most successful affiliates see meaningful results within 6-12 months. Remember that experienced marketers earn 9.45 times more than beginners, so patience and persistence are key. Focus on creating quality content consistently rather than expecting overnight success.

What happens if Amazon rejects my affiliate application?

Amazon may reject applications for incomplete information, lack of content, or policy violations. If rejected, review Amazon’s feedback, improve your site or content strategy, and reapply after addressing the issues. Sometimes simply adding more content or clarifying your promotion methods is enough to get approved on a second attempt.

Sources

• Authority Hacker. (2025). 136 Affiliate Marketing Statistics in 2025. https://www.authorityhacker.com/affiliate-marketing-statistics/
• Wix.com. (2025). Affiliate Marketing Statistics and Facts for 2025. https://www.wix.com/blog/affiliate-marketing-statistics
• AffiliateWP. (2025). 40+ Affiliate Marketing Statistics for 2025. https://affiliatewp.com/affiliate-marketing-statistics/
• Hostinger. (2025). Affiliate Marketing Statistics 2025: Key Trends and Industry Growth. https://www.hostinger.com/tutorials/affiliate-marketing-statistics
• Complete Controller. (n.d.). 5 Essential Marketing Strategies to Help Grow Your Business. https://www.completecontroller.com/5-essential-marketing-strategies-to-help-grow-your-business/
• Complete Controller. (n.d.). How to Use Content to Set Yourself Up as a Thought Leader. https://www.completecontroller.com/how-to-use-content-to-set-yourself-up-as-a-thought-leader/
• Complete Controller. (n.d.). Startup Marketing Success. https://www.completecontroller.com/startup-marketing-success/
• Wikipedia. Affiliate Marketing. https://en.wikipedia.org/wiki/Affiliate_marketing
• Investopedia. Affiliate Marketing. https://www.investopedia.com/terms/a/affiliate-marketing.asp
• Federal Trade Commission. (n.d.). FTC’s Endorsement Guides: What People Are Asking. https://www.ftc.gov/tips-advice/business-center/guidance/ftcs-endorsement-guides-what-people-are-asking
• Amazon Associates Program. https://affiliate-program.amazon.com
• Shopify. Amazon Affiliate Marketing Guide.
• Publift. Top Performing Affiliate Strategies.

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.

Repaying a mortgage is a critical financial decision requiring much thought before execution. People commonly think paying off the mortgage is a good thing. If you have saved money and have some financial sense, you must decide whether to pay off your mortgage or use that savings to invest and grow your money.

Mortgages are one of the most common types of loans. Suppose you have some savings and consider paying off part of the mortgage in advance. In that case, you must consider many variables and assess the better use of your savings, paying off the mortgage, or investing. 

To make a good decision, you must first know the most important thing: nothing but understanding what repaying a mortgage is and when you can do it. There are distinct advantages and disadvantages to paying off your mortgage early. 

What is the Mortgage Repayment?

Repaying a mortgage is paying extra money on your real estate loan to reduce the monthly payment or shorten the loan duration. You can partially repay the loan amount and shorten the length of the loan. The partial repayment of the entire loan is generally more feasible, given that few people save enough to cancel the mortgage loan altogether.

The average amount of a mortgage loan in the US is approximately $150,000, with a repayment term of between 25 and 30 years. If you pay a monthly installment of $1,000 without considering the fluctuations of the interest rates, you could reduce your mortgage by $12,000 a year, with less interest and expenses.

But if to the monthly installments, you add an extraordinary $10,000 as repayment. You would reduce your loan considerably in one cut. In that case, you have two options: reduce the amount of your monthly liability or reduce the life of the loan.

When is it Good to Cancel Your Mortgage Early?

Is it better to use savings to pay off early canceled mortgages, or is it better to use that money to invest? The answer is somewhat complex, and there are four factors that you should keep in mind:

• When did you sign the mortgage contract?
• The interest on the mortgage?
• Your knowledge of investment products?
• Your risk tolerance?

Should You Pay Off the Mortgage?

You have several legal assumptions regarding repayment, the most important being that you bought the property before 2013. So, you can deduct a maximum limit of $9,040 annually if you are the sole owner or $18,080 if you share the loan ownership and declare taxes separately.

In those cases, the Treasury returns 15% of the amount contributed by investment in habitual residence.

However, there are some assumptions in which you can deduct the amortization of your mortgage as indicated in the 2018 Income Practical Manual for the 2020 campaign, published by the Tax Agency.

Amortize Mortgage by Interest

An essential factor to consider is your interest rate for your fixed or variable mortgage. Since the great financial crisis at the end of the last decade, central banks have embarked on policies to lower interest rates, which impacted the cost of mortgages.

Today, it is normal to find mortgages that pay 2% or even less. Against this information, it is wise to analyze whether you must pay a loan that costs 2% per year or invest in the stock market or equities that offer an average of 10% each year.

Faced with a low-interest rate scenario, we should evaluate the possibility of investing the money to gain from the interest rate differential. It is a risk, but you can earn a little money in that operation. In addition, you can always withdraw the money from the investments and pay off the mortgage if the Federal Reserve decides to raise interest rates.

Your Knowledge About Investing

Suppose you do not know much about the product you will invest in and are interested in paying your debts as soon as possible. In that case, the decision is straightforward, and amortizing the most money is your thing. This way, you will leave the mortgage as soon as possible.

How Tolerant You are to Risk

If you know about investments and you like risk, the option you could consider would not be to reduce the time of your mortgage through early repayment but to invest that money saved. In the stock market, you can make an average of between 5 and 10% per year, while you pay about 2% in a mortgage.

If you have a conservative risk profile and a low level of risk, it would be best to pay off the mortgage. On the other hand, if you have a moderate or aggressive risk profile, you may find it more profitable to allocate the savings to investment products.

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.

Going by what the statistics suggest, COVID-19 affected small and large businesses. The global market went down in its operations, and economies of the world had to face the brunt of all such inconveniences. The outbreak posed severe challenges to the strategists to devise strategies to help businesses continue their operations.

The circumstances had more extraordinary minds brainstorm ideas where experts could devise plans to cope with the aftermaths of the outbreak. According to statistics, FTSE witnessed a 14.3% drop in 2020. It was by far the worst performance since 2008. Because of this, several countries’ stock markets cut down their interest rates, which helped economies grow as it encouraged consumers spending power.

On the other hand, the past year was difficult for job seekers. Most businesses halted their operations, and most employees lost their jobs. The proportion escalated to 8.9% in the United States, as explained by the International Monetary Fund. The tourism industry also halted its operations as the world went into lockdown.

The IMF puts the global economy squeezed by 4.4% in 2020. This decline is considered the worst since the Great Depression that hit the world in the 1930s. That said, considering the world closed down its hospitality sectors, millions of employees lost their jobs, and companies went bankrupt. As a result, the global tourism industry crumbled into bits and pieces.

The tourism industry lost billions of dollars last year. The entire world is said to struggle with the same condition till 2025. However, according to forecasters, 2021 is when things can go to their former state. Let’s discuss how the pandemic turned the global market local again.

Airline Services Going Down All Around the Globe

As already discussed earlier, airline services went down last year. With hospitality shutting its doors worldwide, millions of people couldn’t get the chance to travel. Millions of people died last year and were buried without getting goodbyes from their loved ones, which is why the year was one of the saddest years in history.

The shutdown in the airline services had companies operating internationally to start their functions locally. Instead of halting their routine operations completely, they cut down their frequency of operations and resorted to running their operations on small scales.

Online Sessions 

Schools, colleges, universities, educational institutes, and companies worldwide operated from online platforms during the pandemic. Students took their classes online, and most world giants conducted meetings and sessions online as a precautionary measure to stay healthy and well and save employees from contracting the virus. It wouldn’t be wrong to say that these online platforms were a reason; most companies could come out of such repercussions.

From platforms like Zoom, experts in their respective fields decided to conduct their business-related strategies to develop solutions to the problems. Platforms like this generated robust returns and made larger-than-life profits. As a result, continuing with routine business operations didn’t become a hassle for them. 

Companies Operating Digitally

Considering how the world’s giant fell, companies resorted to online platforms. Companies and consumers decided to look for brands with online channels. According to surveys, about 80% of customers interact with brands through digital media during the pandemic. Since then, the situation hasn’t changed one bit.

As a result, companies have adopted new and better platforms and have taken on programs to develop strategies that improve their operations and help them become stronger after the pandemic’s aftermaths start to fade.

Advantages of Operating on Small-Scales During the Pandemic 

Some of the repercussions the pandemic brought were closed operations and businesses going bankrupt, employee turnover, and many more. However, new strategies also took the front seat, and companies found ways to operate even in such conditions.

Out of such strategies, one strategy that sold the deal for many companies operating locally generated substantial results. It helped the companies continue their operations locally, following precautionary measures to ensure every customer’s health is prioritized in their utmost capacity.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By: Jennifer Brazer

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

Fact Checked By: Brittany McMillen

Psychological Effects of Pandemic: Insights & Coping Strategies

The psychological effects of pandemic include a 25% global surge in anxiety and depression, with young people, women, and individuals with pre-existing mental health conditions experiencing the most severe impacts from prolonged isolation, financial stress, grief, and neurological symptoms associated with long COVID.

These mental health challenges stem from a complex interplay of biological factors like neuroinflammation, social disruptions from lockdowns, and economic uncertainty that fundamentally altered how millions of people work, connect, and cope with daily life.

The pandemic didn’t just change how we live—it rewired how we think, feel, and process stress. As someone who’s spent over 20 years as CEO of Complete Controller, I’ve witnessed firsthand how businesses and their teams navigated unprecedented psychological challenges. My team and I worked closely with entrepreneurs across every sector imaginable, watching some crumble under the pressure while others discovered remarkable resilience.

This article shares those hard-won insights, combining research-backed strategies with real-world applications that helped our clients not just survive but build stronger mental foundations. You’ll discover practical frameworks for identifying pandemic-related trauma, evidence-based coping mechanisms tailored to different work environments, and concrete steps to transform post-pandemic anxiety into sustainable growth—both personally and professionally.

What are the psychological effects of the pandemic, and how do you navigate them?

• The pandemic caused a 25% global increase in anxiety and depression, disproportionate impacts on vulnerable groups, biological brain changes from COVID-19, and lasting trauma requiring targeted coping strategies
• Young people experienced the highest rates of new mental health diagnoses, with 25% reporting clinical depression symptoms compared to pre-pandemic baselines
• Women faced compounded stressors from increased caregiving responsibilities, job losses, and domestic pressures, resulting in anxiety rates 1.5 times higher than men
• Long COVID created new psychiatric conditions through direct neurological damage, affecting memory, mood regulation, and cognitive function in previously healthy individuals
• Evidence-based recovery includes structured social support, workplace mental health policies, cognitive rehabilitation exercises, and integration of digital mental health tools

Global Mental Health Crisis: Understanding the Scope and Scale

The pandemic fundamentally altered the mental health landscape across every continent, creating what researchers now call the largest simultaneous psychological event in modern history. Data from the World Health Organization reveals that anxiety and depression rates increased by 25% globally, with some regions experiencing even steeper spikes during peak lockdown periods.

This mental health crisis didn’t affect everyone equally. Essential workers faced infection risks daily while managing their own fears and family responsibilities. The American Psychological Association found that these frontline heroes were 2.8 times more likely to seek mental health treatment than their remote-working counterparts. Healthcare workers particularly struggled with moral injury—the psychological damage from making impossible choices about patient care when resources ran thin.

Young adults aged 18-24 bore an especially heavy burden. University closures, job market collapses, and social isolation during crucial developmental years created a perfect storm for mental health challenges. Studies show this demographic reported:

• Depressive symptoms at rates exceeding 25%
• Increased substance use as a coping mechanism
• Higher incidences of self-harm and suicidal ideation
• Disrupted sleep patterns affecting 68% of respondents
• Academic performance declines linked to concentration difficulties

The economic dimensions of pandemic stress created additional layers of psychological pressure. Small business owners, freelancers, and gig economy workers faced existential threats to their livelihoods overnight. Financial anxiety became a primary driver of mental health deterioration, with unemployment correlating directly to increased depression rates.

Biological Mechanisms: How COVID-19 Attacks Mental Health

The virus itself launched a direct assault on brain function through multiple pathways that scientists are still unraveling. Unlike typical respiratory infections, COVID-19 crosses the blood-brain barrier, triggering inflammation that can persist months after initial infection. This neuroinflammation manifests as brain fog, memory lapses, and mood dysregulation that patients describe as feeling fundamentally different from their pre-COVID selves.

Research from the University of Chicago Medicine identified three primary biological mechanisms driving pandemic-related mental health changes:

• Direct Neural Invasion: The virus enters brain tissue through olfactory pathways, explaining why loss of smell often precedes neurological symptoms
• Systemic Inflammation: Cytokine storms create widespread inflammation affecting neurotransmitter production and neural communication
• Hypoxic Brain Injury: Reduced oxygen levels during severe infections cause lasting damage to brain regions controlling emotion and executive function

Long COVID emerged as a particularly insidious mental health threat. Patients recovering from even mild initial infections reported persistent symptoms including:

• Cognitive dysfunction affecting work performance
• New-onset anxiety disorders without a previous history
• Depression resistant to standard treatments
• Extreme fatigue undermines daily activities
• Memory problems disrupting personal relationships

Historical parallels offer sobering context. The 1918 Spanish Flu pandemic left survivors with similar neuropsychiatric complications, including a condition called “neurasthenia”—chronic mental exhaustion that persisted for years. Medical journals from that era document increased suicide rates and psychiatric hospital admissions that continued well into the 1920s, suggesting our current mental health crisis may extend far beyond the acute pandemic phase.

Evidence-Based Recovery Strategies That Actually Work

Recovery from pandemic trauma requires more than positive thinking—it demands structured, evidence-based approaches tailored to individual circumstances and severity levels. The most effective strategies combine biological, psychological, and social interventions in coordinated treatment plans.

Micro-network support systems

Creating small, consistent support groups of 3-5 trusted individuals provides the social scaffolding essential for mental health recovery. These micro-networks function differently than large social circles:

• Regular check-ins create accountability for self-care
• Shared experiences reduce isolation and shame
• Practical support emerges naturally (childcare swaps, meal sharing)
• Emotional bandwidth remains manageable for all members

Cognitive rehabilitation protocols

For those experiencing long COVID brain fog or pandemic-related cognitive decline, structured rehabilitation exercises help rebuild neural pathways:

1. Morning Brain Training: 15-minute sessions using apps like Lumosity or Peak
2. Memory Journaling: Daily recording of three specific details from each day
3. Focus Intervals: Working in 25-minute blocks with 5-minute movement breaks
4. Dual-Task Training: Combining physical and mental activities (walking while solving math problems)

Technology-enhanced mental health support

Digital tools democratized mental health access during lockdowns and continue providing crucial support. The Heroes Health app case study from UNC demonstrates real-world success—over 10,000 healthcare workers used the platform to track symptoms and access resources, with participants reporting 40% improvement in stress management scores.

Effective digital interventions include:

• Teletherapy Platforms: BetterHelp, Talkspace, and MDLIVE offer flexible scheduling
• Mood Tracking Apps: Daylio and eMoods help identify patterns and triggers
• Meditation Apps: Headspace and Calm provide structured anxiety reduction programs
• Peer Support Networks: 7 Cups and NAMI offer moderated community support

Workplace Mental Health: Building Resilient Organizations

Organizations that prioritized employee mental health during the pandemic saw measurable benefits in retention, productivity, and innovation. Google’s manager training program exemplifies best practices—after implementing mental health workshops, the company recorded a 40% increase in reported psychological safety scores.

At Complete Controller, we implemented several initiatives that transformed our workplace culture:

• Weekly Mental Health Check-ins: Team meetings begin with optional sharing about stress levels and support needs. This simple practice normalized mental health discussions and helped managers identify struggling team members early.
• Flexible Work Arrangements: We moved beyond traditional schedules to accommodate caregiving responsibilities, therapy appointments, and individual peak productivity hours. Productivity actually increased when people could work around their mental health needs.
• Resource Libraries: Curated collections of stress management tools, meditation resources, and professional development materials give employees self-directed options for support.

Key workplace interventions that demonstrate measurable impact:

• Manager Training Programs: Teaching leaders to recognize burnout signals and respond appropriately
• Mental Health Days: Designated time off specifically for psychological wellness
• Employee Assistance Programs: Confidential counseling services with easy access
• Workload Audits: Regular reviews to prevent chronic overload
• Team Building: Virtual and in-person activities fostering genuine connection

Post-Pandemic Resilience: Future-Proofing Mental Health

Building lasting resilience requires moving beyond crisis management to proactive mental health strategies. The pandemic taught us that psychological preparedness matters as much as physical health maintenance.

Personal resilience practices

Individuals who weathered the pandemic best had established routines that buffered against stress:

1. Morning Anchors: Consistent wake times and morning rituals provide stability
2. Physical Movement: Daily exercise, even 10-minute walks, significantly impacts mood
3. Creative Outlets: Art, music, writing, or crafts offer emotional processing channels
4. Nature Connection: Regular outdoor time reduces cortisol and improves focus
5. Meaning-Making Activities: Journaling or volunteering creates purpose from struggle

Community-Level Interventions

Resilient communities share characteristics that individual efforts alone cannot replicate:

• Mutual Aid Networks: Neighbors supporting neighbors through organized systems
• Mental Health First Aid Training: Community members equipped to recognize and respond to crises
• Accessible Resources: Libraries, community centers, and faith organizations offering support programs
• Inclusive Planning: Vulnerable populations centered in recovery efforts
• Celebration Rituals: Marking progress and honoring losses together

Organizational Preparedness

Forward-thinking companies now include mental health in their business continuity planning:

Phase-Based Response Protocols:

Crisis Stage	Mental Health Actions	Success Metrics
Early Warning	Activate support teams, increase check-ins	Engagement rates
Active Crisis	Deploy resources, adjust workloads	Utilization of services
Recovery	Rebuild routines, process lessons	Retention and satisfaction
Integration	Embed learnings, strengthen systems	Resilience scores

 

Professional Development Through Crisis: Growth Opportunities

The pandemic forced rapid adaptation that accelerated professional growth for many individuals. Those who embraced change rather than resisting it discovered unexpected career pivots and skill development.

Digital literacy skyrocketed as entire industries moved online overnight. Marketing professionals have mastered virtual event planning. Teachers became educational technology experts. Healthcare providers adopted telemedicine at scale. These forced innovations created lasting competitive advantages for early adopters.

Career resilience strategies that emerged from pandemic experiences:

• Skill Diversification: Learning adjacent skills to increase adaptability
• • Network Expansion: Building connections beyond the immediate industry
• • Portfolio Careers: Developing multiple income streams for security
• • Continuous Learning: Embracing online education and certifications
• • Purpose Alignment: Choosing work that provides meaning beyond income

Final Thoughts

The pandemic’s psychological effects will ripple through society for years, but we’re not powerless against them. By understanding the biological mechanisms driving mental health changes, implementing evidence-based coping strategies, and building resilient support systems, we can transform trauma into growth.

As business leaders, we have unique opportunities to shape healthier work environments that acknowledge and support mental wellness. The companies that thrive post-pandemic will be those that recognize employee psychological health as a strategic asset rather than a personal issue.

Recovery isn’t linear, and healing takes time. What matters is taking that first step toward support, whether through professional help, community resources, or workplace initiatives. The psychological resilience strategies we develop now will serve us through future challenges, making investment in mental health one of the wisest business decisions we can make.

If you’re ready to build a mentally healthier, more resilient organization, the experts at Complete Controller can help you implement financial and operational systems that support both business success and employee well-being. Visit Complete Controller to discover how we help entrepreneurs create sustainable, psychologically healthy workplaces that thrive in any environment.

FAQ

Which demographics were most psychologically affected by the pandemic?

Young people aged 18-24 showed the highest rates of new mental health issues with 25% reporting clinical depression, followed by women who experienced anxiety at 1.5 times the rate of men, essential workers who were 2.8 times more likely to need mental health treatment, LGBTQ+ individuals facing compound stressors, and people with pre-existing mental health conditions whose symptoms significantly worsened.

Can COVID-19 infection directly cause mental health problems?

Yes, COVID-19 directly impacts brain function through neuroinflammation, causing depression, anxiety, and cognitive problems even in mild cases. The virus crosses the blood-brain barrier, triggers inflammatory responses that affect neurotransmitter production, and can cause hypoxic brain injury that damages regions controlling mood and executive function, with symptoms sometimes persisting as part of long COVID syndrome.

 What are the long-term effects of isolation on mental health from pandemic lockdowns?

Extended isolation during lockdowns led to increased anxiety and depression rates that persist even after restrictions lifted, deterioration in social skills and relationship quality, disrupted sleep patterns affecting 68% of young adults, reduced emotional regulation capacity, and in severe cases, trauma responses similar to PTSD that require professional intervention to resolve.

Which coping mechanisms for COVID-19 stress proved most effective?

Research shows the most effective pandemic coping strategies include forming small 3-5 person support networks for consistent connection, combining teletherapy with mood-tracking apps for professional guidance, maintaining structured daily routines with morning anchors and regular exercise, practicing cognitive rehabilitation exercises for those with brain fog, and implementing workplace flexibility with mental health check-ins and resource access.

Will mental wellness during COVID-19 improvements last beyond the pandemic?

A: Mental health gains achieved during the pandemic can persist with continued effort through maintaining established support systems and healthy routines, regular use of digital mental health tools that became habits, workplace policies that prioritize psychological safety becoming permanent, increased mental health literacy reducing stigma long-term, and community-level interventions creating lasting infrastructure for crisis response and ongoing support.

Sources

• KFF. (2023, March 20). “The Implications of COVID-19 for Mental Health.” www.kff.org
• World Health Organization. (2022, March 2). “COVID-19 Pandemic Triggers 25% Increase in Prevalence of Anxiety and Depression.” www.who.int
• Penn Today. (2022, March 16). “The Pandemic’s Psychological Scars.” www.penntoday.upenn.edu
• News-Medical. (2024, November 6). “Unraveling the Psychological Impact of COVID-19 on Young Minds.” www.news-medical.net
• UChicago Medicine. (2024, May 31). “Mental Health in the Wake of COVID-19.” www.uchicagomedicine.org
• Son, C., et al. (2023, October 24). “Mental Health Status and Coping Strategies During COVID-19.” Frontiers in Psychiatry.
• American Psychological Association. (2021). “Essential Workers More Likely to Be Diagnosed With Mental Health Disorder During Pandemic.” www.apa.org
• National Institute of Mental Health. (2021, July 20). “4 Strategies for Coping with Pandemic Stress.” MedlinePlus.
• Eghigian, G. (2020). “The Spanish Flu Pandemic and Mental Health: A Historical Perspective.” Psychiatric Times.
• Centers for Disease Control and Prevention. “Stress and Coping Resources.” www.cdc.gov/mentalhealth/stress-coping/index.html
• Google Cloud. (2020). “UNC Heroes Health App Case Study.”
• Yu-lin Gardner. (2020). “How Google Is Training Its People Managers to Make Team Member Mental Health a Priority.” Google Benefits Program.
• National Institutes of Health. “Psychological Effects of Pandemic.” www.ncbi.nlm.nih.gov/pmc/articles/PMC7089165/
• Complete Controller. “The Leadership Style Best to Run an Organization.” www.completecontroller.com/the-leadership-style-best-to-run-an-organization/
• Complete Controller. “Remote Work Security Post-COVID.” www.completecontroller.com/remote-work-security-post-covid/

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By: Jennifer Brazer

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

Fact Checked By: Brittany McMillen

Clearing Suspense Accounts: A Step-by-Step Guide to Tidy Up Your Finances

Suspense accounts might sound like something out of a crime thriller, but there’s no mystery here—they’re an integral part of proper accounting. Think of them as the “waiting room” for your financial transactions. When a payment, receipt, or transaction doesn’t quite fit into your books due to missing details or classification uncertainty, it takes a temporary pit stop in a suspense account. This ensures your accounting keeps going without grinding to a halt.

As someone who has spent more than 15 years helping small businesses organize their finances through Complete Controller, I’ve learned that while suspense accounts are only meant to be temporary if mishandled, they can quickly turn into chaos. Let me guide you to ensure these accounts do their job—clearing discrepancies and safeguarding your financial health.

What Are Suspense Accounts?

Suspense accounts are temporary holding accounts used to park unclassified or uncertain transactions until they can be properly allocated.

Imagine finding an unidentified deposit in your bank account. Without knowing whether it’s a customer payment, a refund, or something else entirely, you can’t assign it to the correct ledger. Instead of risking a misclassification (and a potential audit nightmare), the suspense account becomes its home until you figure it out. Once identified, the money is moved to the proper account, and the suspense account returns to its natural state: zero.

Common use cases

There are several reasons a transaction might land in a suspense account:

• Unclear Payments: A customer sends you money, but they didn’t provide an invoice number or other identifying details.
• Missing Information: A receipt pops up in your records, but it lacks data—like an account or purpose—that helps classify it.
• Trial Balance Mismatches: During closing processes, you might place discrepancies into suspense accounts temporarily to keep the books accurate as you investigate.

Starting with practical bookkeeping tools like these will keep your accounting system clean and functional while reducing stress during tax time or audits.

Learn more about the definition of suspense accounts here.

Why Are Suspense Accounts Important?

Preventing misclassified records

Suspense accounts act as a shield against misclassifications. Instead of rushing a transaction into the wrong place, you’re creating a safe space for ambiguity until clarity emerges. The alternative—guessing—is like throwing darts blindfolded; it might work sometimes, but it’s a risky habit to keep.

Legal and audit compliance

Suspense accounts also serve as a visible record of your effort to handle unresolved transactions responsibly. Detailed documentation ensures you’re protecting your organization should any tax or external audit questions arise. A clear audit trail is invaluable for avoiding penalties or legal complications.

Steps to Clear Suspense Accounts

I’ve worked with businesses of all sizes, and while their bookkeeping complexities differ, the method for clearing suspense accounts is universal. Here’s the process laid out step by step:

Identify and review transactions

Start by listing every item currently sitting in the suspense account. Is it an unidentified payment? A customer refund? A mystery journal entry? Understanding what’s causing the limbo is the first step toward resolution.

Make it a habit to review these accounts regularly, ensuring discrepancies don’t linger long enough to create accounting confusion. The importance of reconciling accounting statements cannot be overstated.

Investigate and resolve the discrepancies

Delve into the details of each transaction:

• Cross-check with bank statements: Match deposits and withdrawals to figures recorded in your system.
• Review invoices and receipts: Tie payments directly to pending accounts.
• Follow up with stakeholders: Whether it’s a client, vendor, or internal department, outreach often sheds light on a murky transaction.

As the CEO of Complete Controller, I’ve seen countless businesses use good old-fashioned investigation to transform suspense accounts from a cluttered mess to a clean slate.

Make the necessary journal entries

Once you’ve cracked the case, post the appropriate journal entries to shift transactions out of suspense. Here’s how this might look:

• Debit your accounts receivable when a customer payment is identified.
• Credit the appropriate revenue or income account to complete the entry.

This is the point where everything comes together. Every cleared discrepancy represents a step closer to accurate financials. Document every correction in case you need to reference it later.

Reconcile and zero out the account

That last, critical step: ensure the suspense account’s balance equals zero. Use reconciliation reports to confirm that every transaction is resolved and nothing remains in limbo. Tools like checkbook balancing can help during this process.

For advanced handling tips, check out suspense account reconciliation best practices.

Managing Suspense Accounts Effectively

Regular reviews

The longer transactions linger in suspense, the harder they are to resolve. That’s why monthly reviews are crucial. Think of them as decluttering sessions for your accounting books.

Transparent documentation

Always leave a clear trail of your work. Note why a transaction was added to the suspense account, what steps were taken to investigate, and how it was resolved. This not only keeps your team aligned but also saves headaches during audits.

Follow these small business bookkeeping tips to make sure your entire team is equipped to manage and resolve suspense transactions efficiently.

Training and communication

Ensure everyone involved in handling entries knows their role in clearing suspense accounts. A well-prepared team combined with open communication will make this process seamless.

Real-World Example: How Suspense Accounts Saved XYZ Corporation

The problem

A manufacturing client of ours, XYZ Corporation, was an industry leader in innovation—but not in bookkeeping. Their suspense accounts were overrun with unresolved entries due to inconsistent follow-ups. With poor visibility into cash flow, financial reports often swayed decisions in the wrong direction.

The solution

We helped them implement a monthly review system, where departments flagged unclear transactions while the finance team investigated further. Better documentation and communication were also rolled out to keep stakeholders in sync.

The result

In six months, XYZ Corporation reduced their unresolved entries by 85%. Their accounts became more accurate, leading to faster audits and more confident business decisions.

Conclusion

Suspense accounts may be a temporary holding place for uncertain transactions, but their proper management is anything but temporary—it’s essential. By systematically resolving entries, maintaining transparency, and encouraging frequent reviews, you keep your books accurate and your workflow smooth.

As the founder of Complete Controller, I’ve always believed that financial clarity drives growth. Don’t let confusion over suspense accounts hinder your potential. Start implementing these strategies today to ensure your financials are fully optimized.

Want to make suspense account management even easier? Let the experts at Complete Controller help your business thrive.

FAQ

What is a suspense account?

A suspense account temporarily holds transactions when there’s uncertainty or missing information until they can be classified correctly.

Can suspense accounts impact audits?

Yes! Properly managed suspense accounts show auditors that your discrepancies are handled responsibly.

How often should I review suspense accounts?

Monthly reviews help catch and clear discrepancies before they stagnate or create larger issues.

What if I don’t clear my suspense account?

Neglecting suspense accounts leads to inaccurate financial records and potential audit hiccups.

Can accounting software help?

Absolutely. Programs like QuickBooks and Xero streamline suspense account reconciliation and classification.

Sources

• AccountingTools Official Guide
• Investopedia Insights
• Faster Capital Study
• Complete Controller Blog

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

As we move forward emotionally and physically, we also shift how we live our lives. Our cell phones have evolved from inventing airplanes to developing phones, a technology the world is grateful for. With everything going digital, why should money take a pause? After all, cash leads the game.

Cryptocurrency is a type of payment that can be dealt with online only. You cannot touch it; you cannot see it. You can, however, see your progress. That’s all. This currency works using a technology called a blockchain.

Because of its demand and how it instantly vibes with the public, many different cryptocurrencies have taken the market by storm. Although the foundation for all of them is blockchain, using a decentralized technology spread across many computers that manage and record transactions.

This currency is hot in the market right now because of its tight-knit security. You won’t wake up one day fearing you’ll get robbed or walk through the streets questioning yourself if you’ve dropped a $100 note somewhere. Crypto saves us from that trouble, therefore appealing to the latest generation.

Convenience

This generation lives on convenience. With e-commerce on the rise, it only makes sense for crypto to take over the market. Here are a few ways Cryptocurrency is doing us all a favor:

• Reduced risk of fraud

With cash or money in bank accounts, being a victim of fraud is as easy as counting 123. With money supported by technology, it is nearly impossible to transfer your money fraudulently. The plus side of this currency is how it was created using technology. Blockchain technology helps tremendously in maintaining the integrity of crypto.

• Stability

With the world surprising us every other day, inflation and unstable currencies have become a part of our lives. We wake up daily not knowing if we’ll get the desired conversion rate. Unstable currencies have long been a part of the stock market, and it’s never something you can trust. For people who live in countries where inflation is at an all-time high, Cryptocurrency can change the narrative, and if we see the bigger picture, it can even help the country change for the better.

• Take back your control

With Cryptocurrency, you have control over your money. Sure, you can’t see it, but you can check its progress anytime you want. Every other day, there is a case of fraudulent activity or even institutions where we store our money, and acts are committed.

Our money is never safe. Someone or another will always have access to it. Keeping money in your house is also not safe. You see, that fear always lingers on if we have cash around us. Cryptocurrency is secure; it’s all under your eyes.

Types of Cryptocurrency

Since Cryptocurrency took over the market, many different currencies have come through. Here’s info on some of the most significant leagues:

• Bitcoin

Bitcoin is primarily leading the market. It has more liquidity because of its acceptance in the market. The idea here is the more a currency is used in the market as a medium of exchange, the more liquid it becomes. And that is precisely the case with Bitcoin. It has more exchanges, acceptability, hardware, and an intricate software system.

• Ethereum

Ethereum is fundamentally different because of its technology. Bitcoin is a currency; however, Ethereum is also a technology to build new and more extensive programs. Vitalik Buterin, the founder of Ethereum, summarized it, saying, ‘Ethereum is a smartphone while Bitcoin is a calculator.’

• Dogecoin

Initially created for humor to make fun of Bitcoin, Dogecoin has managed to up the stakes with Elon Musk backing up the game! Dogecoin can buy things or make payments online if those you deal with accept the respective currency.

Risk

Cryptocurrency is, after all, an investment. And as much as it has enormous potential to make you rich, is an investment not risky? The gamble here is volatility. You would never be advised to put your trust in the market, but prospective benefits act as a bribe well enough. It is a part of our innate nature for humans to feel pulled towards risk.

That does make sense. Because then we ask ourselves how superior we’ll feel once we win. Cryptocurrency does not seem that much of a risk for the generation that is winging it right now, and I’m guessing that’s alright. There’s always a way to bounce back. Because what if you win?

Conclusion

Cryptocurrency is risky, but it is also worth it. With everyone shifting to online currency, it won’t be too late till it’s not a choice anymore and more of a way of life. Having currency online that you can constantly keep track of, knowing where it’s going and where it’s not to the %, is our best choice.

It’s rather stressful keeping money in our banks only to find out later those fraudulent activities were committed, and we’ve lost all our hard-earned money. Therefore, it would be a rather brilliant idea to get in the game now and learn the ropes so that you’ll know the depths of this industry when the kids come through.

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.

Every financially responsible adult should be focused on having a savings account. However, many don’t for one reason: lack of discipline. There is a distinct difference between those who build savings throughout their lives and those who fail to have the discipline to save.

Savings of any kind take discipline to achieve, whether saving for emergency funds, college for your children, buying a home, retirement, or opening a business. It also doesn’t matter if you have wealth or live paycheck to paycheck; saving money requires discipline.

Financial experts point out that disciplined savings are one of the keys to generating a solid financial future. They suggest paying yourself at least 10% of your income first. This money will be put into whatever savings accounts you choose. 

For example, a person who earns $10,000 a month would have to save between $1,000 and $1,500. Another way to decide what percentage of income to save is to consider your current age. If you are 25 years old, you have to save 25%; if you are 45, it will be 45%. In short, it would have to increase by 1% every year of your current age.

Automated Savings

Discipline is something every person should have when it comes to their finances. It requires focus and dedication to saving towards your goals. Because so many don’t feel they have the means to save, they don’t try. While you recommend putting a percentage of your income away, discipline doesn’t have an amount requirement. Start by putting something away, no matter the amount.

If this is your case, there are options to help you save, invest, and achieve your financial goals, including an automated savings program. It should be done on your payroll or other regularly deposited checks so you never see or touch the money.

Discipline doesn’t mean you must find a way to part with the money you need to save once you have it in your pocket or main bank account. Discipline is taking measures to save and stick to it using every tool at your disposal to accomplish your savings goals. You can make automatic deposits into your savings account in two ways.

You can have your banking institution automatically debit your checking account on a specific day of the month and deposit it into your savings account. Some banks will have automated options for deposit transactions that will allow you to designate a certain amount each month to be taken from another account or financial source and put in your savings.

You can also have your employer direct deposit your payroll check into a checking account and a designated amount to a savings account. This direct deposit can take one to two paychecks to begin after signing up. However, you can manually deposit into your checking and savings account.

Investment Savings 

With an investment savings program, you can hire an investment professional to make regular savings investments on your behalf or advise them on where to put your money each month. This type of savings can be for a specific or longer-term period.

If you use an investment company and give them the ability to do so, they will do all the investing and allocating savings revenue on your behalf. This type of savings is another way to have a hands-off approach, making it easier to work money into savings without missing it.

Life insurance is another way to have investment savings. Depending on the policy and terms, you can eventually borrow against the money you put into your life insurance policy. Also, you can sell your life insurance policy for a profit later in your life and use it for your final retirement years.

Conclusion

No matter what type of savings plan you put into action, the most important thing is that you have savings or multiple savings accounts or options. Whether you have an emergency expense that needs to be covered, you want to purchase a house, or you want to be able to live it up in your retirement years. Savings accounts are essential for everyone to have.

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.

Oil is one of the world’s most essential natural resources. Possessing this resource helps a country acquire a powerful standing on the international stage. Even the slightest fluctuation in oil prices significantly impacts a country’s and the world’s economy. 

The COVID-19 pandemic is affecting the economic growth of countries, which is hurting the global economy. Due to the world’s uncertain situation today, the Coronavirus outbreak has led to a significant decline in oil prices.

The question is ‘whether this decline in the oil price will lead to further deterioration of the economy or will it serve as an economic booster?’

Before we dive deep into this, we need to understand the major causes of the decline in oil prices. Why? It will help you understand the considered impacts of this natural resource on businesses, including other options. 

Causes of Decline in Oil Prices

Oil is a natural resource that several states refine as a product and then export to other countries. However, there are specific changes that cause significant fluctuations in oil prices.

• OPEC causes oil costs to fluctuate

The Organization of Petroleum Exporting Countries (OPEC) is one of the major causes of the decline in oil prices. OPEC consists of 13 world states. It takes care of 80% of the global trade of oil reserves. The member countries produce oil to fulfill all global demands. It causes fluctuations in the costs of this natural resource and hinders economic growth.

In the past, the cost of natural resources started increasing as there was a $100 price for one barrel. But the global pandemic starts tumbling the price of these natural resources. It significantly impacts oil importers’ and exporters’ economic growth.

• Supply and requirements cause oil price reduction.

The product manufacturing process and stock exchange also play a role in the decline in oil prices. The oil prices and the demand for products are inversely related. There is a prominent decrease in oil costs when the supply exceeds the demand.

The excessive supply of oil decreases its price. It benefits states’ economic growth, mainly the exporters of this natural resource.

• Political instability

According to the international trading perspective, the Middle East’s political instability causes oil prices to fluctuate. It happens because countries account for a significant share of the global oil trade.

According to the research, political instability in Iraq and Afghanistan caused a significant decline in oil prices. It means a single oil barrel rate reached $128 due to political unrest and uncertain security.

The Decline in Oil Prices and The Global Economy

At the international level, OPEC or other exporters control all-natural resources’ pricing strategies, especially oil. According to recent research, the decline in oil prices due to COVID-19 affected several countries’ economies, including Russia.

Russia, specifically, faced a decrease of $2 billion in its revenue. Additionally, several countries, including oil-producing ones, encountered low profits due to reduced oil costs. It happened due to a commission reduction of more than half of their rigs.

Impact of Oil Costs on Businesses

The decline in oil prices has a tremendous impact on manufacturing and production companies in the country. It also affects transportation and other business operations because the expenditures interrelate. Businesses need transport and fuel to send their goods to the importers.

So, the decline in oil prices makes transportation as cheap as possible. It opens the doors for other business operations. Hence, there is a significant advancement in economic growth.

Employment and Investment

The decline in oil prices in the world’s economies has a negative and positive impact. How can it be?

The oil exploration and refinery process needs a large team of laborers and other natural resource-extracting experts. They also need affordable transportation and experienced diesel mechanics. So, the significant decline in oil prices helps them to achieve this goal.

However, the decline in oil prices slows natural resources’ drilling and exploration activity. It makes economic activities unconventional. It increases a higher barrel cost than a conventional oil and natural resource source.

Conclusion

There is a negative and positive impact of a decline in oil prices. According to the experts, if this downturn benefits you, you should use it for future business advancements. If it isn’t leveraging you, try to cope with it by creating problem-solving strategies.

The most effective and helpful measure is to sign the future contract as discussed above. Due to this, you can decide on a specific amount for oil shopping, and the price will remain the same whenever you need to use this opportunity.

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.

Social Security is a federal government program that provides financial assistance during retirement, disability, or widowhood. To obtain these benefits, you need to have a Social Security number and have paid taxes during the years you worked.

Retirement Benefits

If you wish to obtain social security benefits when you retire, you must be 67 to receive full benefits and have accumulated 40 credits. For each year that you worked, you will receive four credits. In other words, that person must have worked for ten years, at least. You can receive benefits at age 62. However, the financial assistance you receive will not be complete.

“You can earn up to four credits per year. For example, in 2019, you get a credit for every $1,360 salary or self-employment income. When you have earned $5,440, you will have obtained the four annual credits, “explains the Social Security website.

On the other hand, it does not matter if you move out of the United States. You still have the right to receive the benefits. If you want more information, read this article: Can residents receive Social Security benefits outside the United States?

Disability Benefits

If you suffer from a physical, mental, or emotional illness that does not allow you to work for more than one year, you can apply for disability benefits.

“Normally, we give monthly cash benefits to those who cannot work for more than a year because of a disability. In general, the benefits continue until the person can return to work, “explains the Social Security office.

Benefits For Widowhood or Survivors

If a family member receives Social Security benefits and dies, they must report to Social Security immediately. In this way, the agency can make a report and decide if the immediate family (children or couple) can receive Social Security benefits. You must apply to the United States Social Security Administration (SSA) to receive survivor benefits. On the other hand, if you die, Social Security explains: “The benefits can be paid to your children and your spouse, if they oversee your children, even if you do not have the necessary number of credits. Your family can receive benefits if you have credits for a year and a half of work (6 credits) within three years just before your death. “

Taxes and Social Security Advantages

If spouses have joint income greater than 32,000 dollars or the income of an individual taxpayer is more than 25,000, they will have to pay off taxes on social security advantages. It relies on how much income you earn, but you can’t pay taxes more outstanding than 85% of social security advantages as it will regardless of income. Mostly, disabled people don’t have to pay taxes as a social security benefit. If survivors got such benefits, you would not consider the amount as your taxable income.

You can also receive the benefits if your former partner dies and you were married for ten years; you may receive Social Security benefits.

Under certain circumstances, stepchildren, grandchildren, or adopted children may also receive benefits.

The spouse or surviving child can receive a lump sum payment of $225 if they meet specific requirements, such as living with the worker at the time of death.

If, for some reason, you cannot receive Social Security benefits, you should consider saving money to be financially stable during retirement. Some savings or retirement accounts that you can consider are:

• Synchrony bank

Synchrony Bank offers a savings account with an interest of 2.25%. You do not need a minimum balance to earn interest to open the bill, and you do not have monthly charges. Also, when opening this account, you can obtain a debit card.

• Barclays

Barclays allows you to open a savings account with an interest of 2.20%. The budget does not require a minimum deposit to open it and has no maintenance charges. In the same way, you can make bank transfers without any cost from Barclays to another bank or vice versa.

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.