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Students save money - Complete Controller

Students live with a tight budget; around 79% of them are anxious about money and savings. They try to purchase cheap things and avoid being in debt. According to recent research, 15 years old American students believe 18% of respondents do not have financial management skills. It is necessary to them aware of how to win financial success and a beneficial way of earning money. Saving money is not a funny task as you need to be smart while spending your money. Let us understand five tips to save money for students. Check out America's Best Bookkeepers

  1. Avoid credit cards

Credit card companies strive hard to offer credit cards to young Americans. Students can use it anytime, as they will go into temptation, but the payment will proceed later. Such type of habit can make a debtor soon. That is why students cannot bear the responsibility of having credit cards until and unless they learn how to create limits for expenses.

  1. Avail discounts

As we know, students have a tight budget, so they must save as much money as possible. It does not mean they can’t travel, watch movies, eat good food, and retail. They can enjoy all these things with limited expenses by availing discounts. Only you will need to wait for the next sale and Google everything you will purchase. Search the product name and the purpose of its usage. For example, you want access to Adobe Photoshop as a student. You will be on the discount page of teachers and students. Also, you may find an option of GoGet Student’s on various websites to land on the discounted student rate web page. Check out America's Best Bookkeepers

  1. Leave a habit of having pets

Unfortunately, having pets is expensive beyond our imagination as people spend thousands of dollars per year. They need extra care with food expenses that will only increase your expenditures. You will also give your time to your pets with study and work. It is best to live without pets as it will save you different prices with unanticipated costs that you may not expect. You will have more freedom than having pets. You can enjoy all your extracurricular activities, even travel outside the country. If you are a caretaker of cats or dogs, you will have to give them a stable environment. They can severely decrease the level of flexibility. You can go ahead if you think you can manage to have pets as I am not preaching here, though.

  1. Avoid expensive expenses

Young people are fond of buying new things related to their wishes, including the desire to have expensive materials. Such sort of shopping can be useful or harmful at the same time. Most students want to buy a car as a transport facility. For this, they strive hard to save as much money as possible. This practice makes them perfect in building saving skills. But having a car is costly as you must pay for motor vehicle registration, insurance, petrol, spare parts, parking, fuel, and other additional expenses for car maintenance.

You can use alternatives rather than bearing such expenses to save maximum money. You can purchase a motorcycle or cycle as daily transport. It is the cheapest expenditure that every student can afford. Check out America's Best Bookkeepers

  1. Do not buy unnecessary subscriptions

Students love to watch Netflix and have different memberships of resorts for an outing. Such types of subscriptions are expensive that cut your maximum money within a month. If you do not believe in this fact, you can check your regular expenditure’s cost, including subscriptions. Also, watch your financial progress after cutting out these prices. You will see a significant difference.

It is better to use alternatives that are not that much costly. For example, you can purchase a gym membership and join a sports team. You can use prepaid services rather than renewing your phone contract. Also, you should identify all subscriptions that help you in money-saving. If you need to watch movies every week, do not skip your ten-dollar Netflix opportunity. Keep using your Netflix account.

  1. Work to make a proper budget

Most of the students do not have any idea how to manage finances or spend money with wisdom. Most learners do not have loans and debt pay-off plans. So that is why you should track the financial traffic of your account. You will know how much you have spent or saved. Use online spreadsheets to keep a tracking record of your expenditures. Also, you can money-saving and budget management apps such as PocketBook and MoneyBrilliant.

 

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers
Money Investment - Complete Controller

When researching how to invest your money, you can also look into how you can help answer your questions about investing. This research can be done through hiring a professional broker or financial advisor, or it can be as simple as doing your research online or through books on the subject. No matter how you go about it, you must find a way to invest some of your money for your future.

Once you have invested in knowledge and educated yourself on investing, you have to make a strategy. Again, this can be done through a professional or on your own, depending on what you can afford and your confidence level. Check out America's Best Bookkeepers

Though you may want to hire a professional financial planner or investment broker, it is important that you, as the investor, have some knowledge of investment strategies and financial planning. Here are three essential strategies that can get you started investing your money wisely.

An Emergency Fund

Though an emergency fund is not an investment that will grow your future, it is essential financial insurance that every person needs to have in place. Having a healthy emergency fund will ensure that if anything goes wrong in life or investment goes south, you are covered to pay bills and stay afloat financially until you recover. Check out America's Best Bookkeepers

Allocation

Pay off high-interest debts. Do not ignore this advice, please. If you have credit card debts or consumer loans with more than 6% interest, you should not invest in anything. The first thing you should do is remove those debts; if you pay a debt of 6%, it is as if you had a return of 6% on your investment. It is the most profitable, safest, and most useful investment.

And if it is a credit card debt that can reach up to 21% interest, you will have made the best investment you could make with the payment of that debt.

Where to invest your money

1. Fixed income products

For those investors who do not want to take too much risk, the truth is that the outlook is very unprofitable at the moment. Here the options we would have are:

2. Fixed-term deposits

Although in his days we could find fixed-term deposits that could pay us up to 4% annual return, at this time, we would find that the returns are not exceeding in some countries such as Spain or 1%, so investing in deposits can make you lose purchasing power due to inflation. Check out America's Best Bookkeepers

3. Public debt

Treasury bills and bonds are still a good investment option. At least it is the safest thing there is. In some cases, it is convenient to leave your border to invest in public debt from other countries looking for a higher profitability rate.

4. Savings accounts

Although it happens the same as with fixed-term deposits – that profitability has dropped a lot – the truth is that there are still some savings accounts that, at least for some time, can offer us a decent return. When is a good option to open a savings account?

Above all, when we start to save, we can automate savings more than anything if we see that we lack the willpower to save.

5. Where not to invest

Before moving on to fewer conservative investments, I take the opportunity to remember that the shortcuts when it comes to making money can be costly. Flee the quick formulas to earn money in the stock market, as is trading. Here I explained certain truths about trading. Please do not fall into the trap of getting rich with binary investments, and I go further: distrust any investment product that carries the word Fund, Guaranteed, etc.

Conclusion

Investing may seem daunting to most people at first, but if you do a little bit of your research, you will know that you can make a road to a healthy and robust financial future.

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers
Saving Money - Complete Controller

There is no denying there; every person thinks about saving money. The people who like to live in “the now” and do not think about the future are rare. When it comes to people working to achieve a stable future, they are found in every corner of the world. Despite this, there are only a few who are successful in saving for their future. Check out America's Best Bookkeepers

Many people find it difficult to start saving as it requires them to cut some of their expenses. In reality, saving is not that of a challenge, only if a person thinks smartly. There are many ways one can start saving funds for their children, retirement, car, business, or a house. They need to explore.

People struggling to put aside a fixed sum of money every month need to understand that there are many ways to go about this. Some methods do not even require much effort if that is something bothering them

Working on the budget by enlisting all the expenses is the smartest way to begin. However, people always find excuses for not saving. Some say their expenses are too much while some complain about their salary is not enough. One of the biggest excuses is not knowing any effective money-saving techniques. Here are six simple ways to start saving money today!

Take Small Steps

For beginners, people can start by taking small steps. If one fails to save a certain amount of money from their income, they need to look for ways to cut down their expenses. Some smart ways people can go about with this are.

  • Switching off the lights when not in use.
  • Quick showers with high-speed water flow.
  • Preventing unnecessary water loss.
  • Practice recycling. Check out America's Best Bookkeepers

Track Expenses & Create a Budget

As discussed earlier, to start saving, people need to keep a track record of their expenses. They need to be well-aware of where they spend their money. It is always the first step in the process. Whether a person purchases a rose for their partner or plans a vacation, every penny an individual spends must be recorded.

For efficient record keeping, people can categorize their expenses. They can use their bank statements and credit card statements to do that. After gathering accurate expense details, the next step is to draft a workable budget. The plan needs to outline exactly how the expenses are measuring up to the income.

Cutting Down Expenses

A major component of saving money for a stable future is to cut down unnecessary expenses. Many people do not realize that they are unnecessarily spending on things that they do not need. Anyone who wishes to save needs to look for smart and effective ways can reduce spending.

It is where enlisting the expenses will come into play. Some people track their major expenses and do not give much thought to the minor expenses such as eating hot dogs, getting new shoes, or buying a flower. When individuals know exactly where their money is being spent, they can identify the irrelevant expenses, making it easy for them to reduce the costs.

Setting Saving Goals

Having a proper plan is critical for successful saving. Without a game plan, the saving efforts will not bear any fruit. It is due to this reason setting saving goals is essential. When one has a goal, it becomes easy to stick to the plan.

Saving for retirement, a child’s education, wedding, business, vacation, home, debt repayment, or a car are all the types of goals that one can set. Check out America's Best Bookkeepers

Choosing the Right Tools

The tools one chooses to save money play a critical role in the process. There is a multitude of tools that people can choose. Some of these are great for short-term goals, while others are deal with long-term plans.

For short-term plans, savings accounts and certificates of deposit (CD) are the ideal options. On the other hand, IRAs that are FIDC insured, stocks, and mutual funds work wonders for long-term saving goals.

Automatic Savings

A stress-free way to save money every month is to opt for automatic savings. It is a facility that almost all banks offer. It also allows consumers to choose the time and the amount that they want to save. One can even set a portion of every paycheck and even split the income to go directly into a savings account.

Conclusion

Achieving financial stability is a goal of every individual globally, but only a few people can succeed in it. Those who succeed in acquiring the status of ‘financially stable’ have one thing in common; they all save. Even the wealthiest of individuals adopt a practice of saving as it brings one peace of mind with a stable future.

 

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers
Save Money Being Young - Complete Controller

It is effortless that we spend a lot of money to go out with friends or with our partners, but we must be clear that this will take its toll at some point and more if it is the money that our parents give us. That is why we are considering some of the best tips to save money, even for youngsters. They will help you manage your finances better, opening you the possibility of kneading the capital that can become your fortune in a few years. Check out America's Best Bookkeepers

The six best tips to save money young people

  1. Open a savings account or fixed-term account

This type of service, offered by banks so that young people allocate a portion of their income to it, and so, you will always have money to buy something you need at some time. That’s why it is the best tip for youngsters. You should follow it from your childhood. If you have a habit of saving money from that age, it will be difficult for you to save money.

You will not need to pay interest if you have a saving account. However, you will pay interest as per your wish. Bank charge from your resources according to the fixed terms of your accounts for a specific time. In this way, you will also pay a specific amount of money in interest.

  1. Save 30% of your income

If you are very young, or even if you have already begun your path to independence, you must allocate an excellent economic item to saving. Experts recommend a saving amount of around 30 percent. It is the amount that you spend without purpose. If you want to save a specific amount from your monthly income, you have to sacrifice unnecessary activities and expenses. As a result, you can save your financial status on rainy days. Check out America's Best Bookkeepers

  1. Avoid getting into debt

If you don’t need to do it, don’t do it! Plan your expenses well. As a result, you will not need to borrow money from anyone. If you don’t work for it, it will cause discomfort and affect your monthly income. Remember, you must pay your debts.

  1. Save the change and any extra income you have

It is one of our best tips to save money, young people that will help us to have something in our account.

The change you have leftover from the things you buy is essential. You can store it in your savings account for future expenses.

  1. If you live alone, cook your food and do not spend on street food

If you are a person who lives alone, try to save by buying food at the supermarket and prepare them yourself. If you do not know how to cook, it is time to learn so you do not have to spend on fast food, which can be very cheap, but it adds a lot of money in the long run.

A package of rice or pasta can last a week. It is a half cost that same as a hamburger on the street for a day. So seriously, consider changing your habits if you are used to eating in the street. Check out America's Best Bookkeepers

  1. Be more aware of night departures

Youth comes with the motivation to go out at night to dance or drink and share with friends. Try not to make this a practice every weekend.

You can entirely be social and go out, but taking into account that you cannot spend too much, since you would disorganize your accounts for the other things you need per month.

  1. Avoid expensive purchase and try alternatives 

Young people usually fond of purchasing vehicles or houses as they make savings for several years. But they failed due to a struggling period. That’s why they have to survive on rent and public transportation on their way to the workplace. Through online exchanges and apps, they buy used or refurbished items that are expensive. If you still want to make big purchases, you will have extra money for savings, including emergency funds or retirement savings.

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers
Saving Money - Complete Controller

Many financially responsible adults do not have a budget, let alone a savings account. Many said they had no savings due to living paycheck to paycheck and reluctance to give up life’s enjoyments to save when polled. This outcome indicates some misconceptions about what has to be given up having a savings account.

Most people think that saving money requires extreme life changes and giving up things like going to the movies, out with friends, or dinner. While it is true that you will need to cut expenses to save money, you do not have to sacrifice fun. You can make tiny changes that will add up to great savings if you implement them into your life. Here are six ways you can trick yourself into saving money without feeling like you are giving up the things you love. Check out America's Best Bookkeepers

Do not withdraw cash with a credit card

The bank takes a fee plus interest when you withdraw cash with a credit card. Having withdrawn $1,000 using a credit card, a person can pay the bank anywhere from $100 to $300 in fees and interest. Also, when withdrawing cash using a credit card, there is no interest-free grace period.

This avoidance of interest also applies to payday loans. While payday loans are generally easier to obtain, they carry high interest. If you must borrow, first try to see if you can borrow from a friend or family member that will not charge you interest. But borrowing against your credit card or taking out a payday loan should only be used as a last resort.

Workout for Free and Save

It is not necessary to go to an expensive gym to get a good workout. A person can work out for free by doing physical activities throughout the day. Extra activities such as walking in your neighborhood or taking the stairs cost nothing, and a person’s body and wallet will thank them.

If you feel like you need the gym to work out, there are some ways to save. You can get a membership at a gym that has low fees. Also, look into referral programs and refer a friend every month to get a discount or kickback. Check out America's Best Bookkeepers

Drink more water

Water increases energy, suppresses the appetite, and cleanses the body. Drinking water is good for maintaining your health but can also save you money. Soft drinks, juice, alcohol, coffee, etc., are costly, especially if you buy them in a café or restaurant. Water, in most cases, is free, and the savings will add up.

If you feel it necessary to get bottled water, you can get a filtering pitcher and a washable water bottle and save money and the environment while drinking water. Water consumption will also give you a fuller feeling and save you money on food.

Find alternative entertainment for the kids

Instead of taking your kids to expensive amusement parks, restaurants, or shopping centers, try inexpensive or free options.  Parents and children can watch movies online together, organize a picnic, ride a bike, take a walk, play board games, practice sports, etc. All these options are fun and far less costly, saving hundreds of dollars and creating great memories for you and your family. Check out America's Best Bookkeepers

Pay your children for housework

There is no better way to explain to children that money does not grow on trees than to pay a housework allowance. This income is an ideal tool for teaching the value of money and saving and spending wisely. You can also explain that they need to save to buy the toys they want.

Entertainment

Invite friends to the house and prepare dinner instead of going to a restaurant. A bottle of wine and a delicious steak dinner will be far less expensive at home, and the time spent with friends will be priceless.

Also, check to see if you can get streaming services included with your other services. Some phone companies and other streaming services allow you to bundle and save. There are ways to be entertained for little to no money.

Conclusion

To save money, you do not have to sacrifice fun and entertainment. If you use these six tricks, you can still have a great time without breaking the bank, and your family, friends, and wallet will thank you.

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers
Household Finances - Complete Controller

Individuals often think they have their household finances sorted, but more often, this area of household operations needs attention. While the concept of managing household finances may seem to be an easy task, the complexity of appropriately sorting your finances can be difficult.

On average, an individual spends about five hours a month tracking his total income, spending, and savings. This article will not help free up those five hours altogether but will provide much-needed relief to those individuals, couples, or families who are severely struggling to keep up.

Household finances do not require a degree in financing or to be a professional financial planner. It requires you to be disciplined and focused and made changes both small and large, as necessary. Here are six tips to help you maintain your household finances like a pro. Check out America's Best Bookkeepers

Develop an Optimistic Mindset

As an individual, couple, or family, it would be in your best interest to develop an optimistic mindset. The primary reason for this is that every family member needs to ensure that they approach household finance-related concerns with a positive mindset rather than developing a pessimistic approach.

Establish a personal bookkeeping system

While this may seem a cumbersome task, believe it or not, this will help alleviate a big chunk of your stress. By establishing a personal bookkeeping system, you can regularly update your books regarding your day-to-day income and expenditures. In return, this bookkeeping will serve as a helping hand when you sit down to manage your household finances.  Check out America's Best Bookkeepers

Choosing a Program or a Process

Upon establishing a personal bookkeeping system, you would need to choose between manual entries or high-tech software. This decision may vary from person to person, as some find it easy to keep a manual check while others may lean towards automation and have the desired information in front of them in a few clicks. 

Assess Your Lifestyle

While you are trying your hand at managing your household finances successfully, you must assess your current lifestyle. There are many things in our day-to-day lives that we, as individuals, do not realize whether we need them or not, i.e., spending without thinking.

By evaluating your lifestyle, you will cut down expenses, which may not be required to live a pleasant life. There is no need to give up enjoying life and all it has to offer, but you have to be aware of living within your means.

Review Proportions

Once a month, review your total income and how much gets allocated to your savings and expenses. By considering, the picture in front of you would be more precise in retrospect of no such planning. This means that you would know what chunk of your income will be allocated towards expenditure while leaving the rest to be saved or kept as collateral for a rainy day. It is essential that you keep a good balance in your budget and how it works together, so calibrating this monthly will ensure everything remains balanced. Check out America's Best Bookkeepers

Consolidate Funds

It is a common debate in today’s society about whether individuals must carry multiple credit cards in their pockets or stick to a single one. While having various options allows you the freedom to spend, it also comes with consequences, i.e., not keeping track of every expense. Hence, it would be advisable to consolidate all funds into one checking account to keep your household finances under strict check and balance. 

Conclusion

Now that you have expanded your knowledge on managing household finances swiftly, it is important not to drift off course. Hence, this is the phase in which you need to develop a positive habit that allows you to manage your funds better. However, most importantly, you need to ensure that you do not give up even if you fail to succeed in the first few initial months. The practice is what makes a person perfect. 

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers
Earn Money - Complete Controller

Throughout our life, we ​​will need to earn money. And that’s something they do not teach us in any school. They do not teach it to us in any university, either. They only give us knowledge of all kinds throughout our lives, and this knowledge is usually of very little use to earn more money than the average person.

Knowledge and qualifications can help us get a job, so we would be making money with the first way to do it, which is the one used by the vast majority of the population. And this way of earning a living can become very dangerous because if one day it disappears, we are left with nothing. Check out America's Best Bookkeepers

The 3 Ways you can earn money throughout your life

  1. First way: Exchange time for money

We talk about working for someone else, which is choosing to offer our time in exchange for money. There is nothing wrong with looking for life in this way because empires are assembled thanks to the fact that a person in a business can find people who join his company and who work for him.

In the absence of people willing to exchange their time for money, it would be very difficult for us to maintain the figure of the entrepreneur. Check out America's Best Bookkeepers

Of course, this way of making money is very risky from an investment point of view. That is, an investor is taught that he cannot put all the eggs in the same basket because if the investment goes wrong, he is left with nothing. And that happens with paid work. We put all our time and future into a job. We charge debts because, in the next months, they will compensate our time with payroll. We plan for the future with the expectation that we will receive a check from our employer.

In other words, we have bet everything on this investment. If tomorrow closes the company, there is a restructuring of the workforce or, simply, your boss decides to fire you, the problems in your life begin, and you have to look for another place where you can exchange your time for money again.

  1. Second way: Invest money to earn money

Sounds good. Many who use the exchange of time for money save to be able to move to this form. Only a few, the truth, because the truth is that most fail to save anything by not having a financial plan. That is, people adapt standard of living to maintain the level of their income. Check out America's Best Bookkeepers

However, to earn money this way, you must have gone through the first form. We talk about using money we have to generate more money, either with investment in the stock market, investment in real estate, etc.

  1. Third way: Multiply the time to multiply the money

But how? If we all have the same time. On the one hand, it is here where we can use leverage, which is the main feature of the people who earn the most money. We can use the time of other people, the resources of other people, and the contacts of other people. We could also call to create a scalable model, which is that with the same time and effort, we can increase our income.

Who wishes to do a struggling 9 to 5 job to pay expensive rent in New York or when you can earn money online well? The office will be anywhere when you open your laptop. As a result, the majority of people are leaving their jobs to do remote work. The report of Global Workplace Analytics and Flex Jobs reveals that the remote working ratio increased by 195% in 2005, and this rate grew by 50% in 2020. All of this possible due to the easy access to making money online. The statistics also further indicate that remote working trends enhance the rate of female entrepreneurs. As a result, the wage gap has closed. The useful advantage of earning money online is that you can work from home or any corner of the world.

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers
New Investors - Complete Controller

Whether it’s learning to invest or doing something else, you may not be doing it the right way. Here are some common mistakes to avoid.

Do not “shop around” to find a counselor

New investors often use the same advisor as their parent, friend, family member, etc. However, the best advisor for someone else may not be the best for you. Before choosing an advisor, consider your needs and observe the types of clients the advisers work with to decide how much you want to participate in the investment decision.

Before choosing a counselor, ask yourself these eight questions. Check out America's Best Bookkeepers

Understand how investments work

Research investments before making a decision. This is an important step to:

  • Understand the risks associated with the investment, including potential losses or returns.
  • Examine how the investment fits into your existing portfolio.
  • Understand the fees you pay and any penalties for early withdrawal.

Invest in something “trendy”

Some investments become popular in the media because a celebrity supports them, or they might be new to the market. Friends can also recommend placements that they have chosen for themselves. While it may be tempting and reassuring to follow the decisions of a large group of individuals, retail investors should be cautious about participating in this kind of “sheep behavior.”

Do not have a plan

Establishing a plan will help you reach your financial goals. Determine a specific interval to review your investment plan and make sure you change your plan if your financial goals (the reasons you are investing) have changed. A plan will also help you choose the asset allocation that fits your short- and long-term goals.

Your plan should be specific and realistic and provide information on your risk tolerance in your investment strategy.  Check out America's Best Bookkeepers

Do not pay attention to expenses

It is important to understand the costs when you invest because they reduce your yield. Ask questions before investing and evaluate your options. For example, two investments may involve risks and an expected return. Expected similar, but the expenses of one of them may be higher; other things being equal, the fees would affect your performance. See how fees can affect your return over time using our Portfolio Expense Calculator.

Have an overconfidence

Many investors overestimate their ability to “outperform the market” by trading frequently, thereby yielding less than they would have earned by simply holding a wide range of investments.

Our overconfidence can be compounded by the way we interpret new information – we tend to examine this information in a way that confirms our previous beliefs. As a result, in a bull where the investments generally have a good return, we could decide that operations give us a higher return. However, in a bear where investments have a bad return, we are going to blame the market and keep our belief that we are still good operators.

Seeking performance

Past performance is not an indication of future performance. This is an important lesson for both new and experienced investors. If an investment made a good return last year, it might offer a worse one this year.

Look for investments that fit well with your level of risk.  Check out America's Best Bookkeepers

Do not capitalize a return

You can grow the money you save by investing it to earn a return. Your money will grow faster if you also invest the money you earn (your return) in addition to the money you started investing with. This is Capitalization. Capitalization works for both guaranteed and unsecured investments.

Not reinvesting the money you have earned can limit your ability to grow savings faster and reach your financial goals. 

Do not read account statements

You should receive account statements monthly or quarterly that show your account activity and provide you with an update on your investments. You can receive the statements by mail or view them online. When you receive your statements:

  • Make sure the investments bought and sold are accurate.
  • Make sure the fees and commissions are accurate.
  • Check how much your investment gains or losses are.

Contact your financial representative if an item in your statements is unclear or seems inaccurate.

Not seeking diversification

Diversification (Holding investments in various asset classes, sectors, and geographies) can help you reduce the overall risk of your portfolio. Here are some reasons to diversify:

  1. All types of investments do not perform well at the same time.
  2. The different types of investments do not all react in the same way to global events and changes in economic factors, such as interest rates and exchange rates, and inflation rates.
  3. Diversification allows you to build a portfolio with lower risk than the combined risks of individual stocks.

If your portfolio is not diversified, it will be unnecessarily exposed to risk. You will not benefit from a higher average return by accepting the unnecessary risk.

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers
Event Planning - Complete Controller

Since the pandemic and even before it, people were already looking to start a small business. Many people who are starting a small business already know what they want to do as they dreamt of owning their own business. Others investigate a new endeavor due to circumstances or other business ambitions and have not yet chosen a business to open. It can also be expensive to get financing, so many looking to branch out into their own small businesses are looking for low startup costs. Here are five amazing small businesses most people can start for little to no money. Check out America's Best Bookkeepers

  1. Blogging:

If you are a good writer and have something to say, starting your blog can be quite easy to do for under $100. It can even be done often for under $50, depending on what measures you take when starting the business. There are multiple ways you can earn money being a full-time blogger.

You can earn money advertising and selling digital products such as E-books. You can also earn money using affiliate links on your block site and cross-linking to other monetized sites. Generally, the main cost for blogs to get started is purchasing your domain name and setting up web hosting through a professional. There can also be costs involved if you need help building your website. However, many websites offer free templates to build your blogsite. Check out America's Best Bookkeepers

  1. Consulting:

Consulting is also a business that can easily be started almost immediately. Many people have been in the workforce for many years. During this time, they have often received formal education as well as gained experience over the years. These years of experience can build towards becoming an expert in a product, service, or work field. This expertise can lend itself to a very successful consulting business.

Your consulting business will also require you to get a domain and build a website. It would be best if you kept this as low cost as possible to stay under $100. You will also need to invest in your appearance, including your clothing and your business card. Consultants often do a lot of networking in person; therefore, your appearance and great-looking business cards will be important when networking. So you may have to invest a bit in your wardrobe and having cards created for you. However, that cost can still be low if you are thrifty.

  1. Freelance Writer:

If you are an excellent writer, you can start a business for well under $100 as a freelance writer almost immediately. In the case of a freelance writer, it is unnecessary to have a website for people to go to; however, it could help the future as you build your business. The most important thing for the freelance writer is to get themselves out there for hire periods. There are multiple websites you can sign up on as a freelance writer offering your writing services. You can also run ads on websites such as Craigslist. Many sites where you can run these ads have zero costs, or if they do have some cost involved, it will be minimal and well under $100. Check out America's Best Bookkeepers

  1. Event planner:

Event planning is another business that is easy to start for little to no money. Most event planners can start their business by planning events for friends and family and expanding by word of mouth. While it is ideal that an event planner has a website eventually, it is not necessary to start the business. Because all of the event’s costs will fall on the shoulders of the person the event is planned for, there is little to no overhead.

  1. Professional Organizer:

Becoming a professional organizer can be lucrative and cost little to no money to start. People frequently need help cleaning and organizing their home or office due to a shortage of time or energy to get it accomplished. If you are good at organizing, you will need to run advertisements, which can be done for free of charge or modest cost, and use social media. You can also make flyers to use in your vicinity to inform people of your services.

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers
Double Your Investment - Complete Controller

While the idea of doubling your money is very appealing, the execution process may be a bit intimidating to some people. Everyone desires success in their lives, and everyone has their own unique definitions of the term. For some, success may mean fame, popularity, peace, etc. For others, it may simply mean money and lots of it!

Many people constantly strive for financial stability. They are always on the hunt for new ways to earn more and spend less. Doubling your money or simply just earning more is a great goal and can be accomplished through many different means. Read on if this is appealing to you! Check out America's Best Bookkeepers

Investments can be a great resource when you are looking to expand your portfolio. While there is always some risk associated with any investment, many tactics have been proven to be consistently successful. It is important to keep in mind that while investing may seem glamourous and fruitful for those who have mastered this skill, the amateur investor should take care to conduct adequate research before making any financial decision. Educating yourself before making any decision about investing is a necessity! We have included a few tips below that we hope will be easy to implement and beneficial to our readers.

The first step to take before making any investment is to create a solid plan. This may sound simple, but it requires much time, thought, and effort. People who have a proper game plan before investing are most likely to get better results. Additionally, you must be focused and take great care when making financial decisions. The three main questions to include in your plan should be: Check out America's Best Bookkeepers

  1. How much money do I want to invest?
  2. How much money do I wish to earn?
  3. How much time am I willing to wait to see my returns?

These three questions will prompt you to make wiser decisions that suit your unique financial needs and desires. Going into an investment without considering these questions will lead you to make unorganized and thoughtless decisions. Remember, the small mistakes may end up costing you the most. This is your money you are working with and you need to make wise decisions, not hasty ones. 

Your plan should also include proper scheduling and a realistic budget that must be maintained in addition to these questions. It may also address the following topics:

  1. Earning More Money:

There are hundreds of ways to earn more money than you do today. The easiest way is to take advantage of freelancing opportunities. Nowadays, many businesses are looking for freelancers that can help expedite their operations. Our suggestion is to capitalize on your relevant skills and then invest the money earned.   Check out America's Best Bookkeepers

  1. Start a Small Business:

Starting a small business is a great way to earn more money. If this is not possible or appealing to you, consider investing in a small business. There is great money to be made when the business is profitable.  This can also become a long-term investment if the returns are fruitful. However, it is important to keep in mind that there may be great risks associated with this investment since businesses operate on a profit and loss strategy.

  1. Lending Money:

Lending money is another quick way to make your money work for you. This is done by lending money to someone you know or to a firm. You are then returned the money along with an agreed-upon interest fee. Lending money with a firm’s assistance is a guaranteed way of getting it back on time and on your terms.

Check out America's Best Bookkeepers 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-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure 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. Check out America's Best Bookkeepers