You have an idea for an exciting new business. You’ve done your research and you’ve written a business plan. Now it’s time to answer the big question – how to finance a business. Let’s take a look at your options and the things you’ll need to consider in your quest for business funding. Business Funding […]
Like any job, there comes a time when you outgrow the pay rate that you’re getting from a client. After all, you don’t want to be earning the same amount of money for the rest of your life. There are two ways to get paid more. Take on new clients at a higher rate or […]
The Tax Cuts and Jobs Act goes into effect for 2018 taxes, but the results of much lower business taxes are already visible in the US stock market. But do those effects truly “trickle down” to the average American? It appears no, according to a recent study. Despite nearly record low unemployment, the study found […]
Let’s take a moment to answer a few questions: How do you cover expenses while you’re waiting for your biggest customer to pay last month’s invoice? Can you book a trip to pitch your most valuable prospect without worrying about the cost? (Or better yet, can you book it using only credit card points?) How […]
Over the last few years, cryptocurrency has evolved from a buzzword to a notable investment. Still, financial analysts across the board agree crypto is a speculative play — some going so far as to call it the next dot-com bubble. I don’t believe that it’s a bubble like we saw in the dot-com era, but I understand why cryptocurrencies’ […]
Donating to charities and nonprofits is one of the most fulfilling uses of your money, but should you hand over your hard earned dollars to a nonprofit if you have big debt? Probably not. Let’s take a look at why, how you can have a greater long-term impact, and other ways to contribute outside of […]
In a recent survey, about one-third of respondents who earn less than $30,000 per year said is it a good idea to draw from home equity to pay for regular bills. That is about 3x the number who said it is a good idea in the $75,000+ income range. So who is right and when […]
On September 21st, a new law went into effect that makes credit freezes free for all Americans. The new law came in response to an egregious data leak at credit scoring agency Equifax where the credit report details of 134 million Americans were stolen by hackers. Now that you can lock and unlock your credit […]
An iPhone is a common purchase for people all over the world. Around 223 million Americans have a smartphone, and 43% (around 96 million) have an iPhone, according to Statista. The fall 2018 iPhone lineup includes a flagship iPhone XS Max with a top $1,449 price tag. That is a ton of money for a […]
Do you budget for vices? A recent study found that households earning less than $30,000 per year spend 13% of their income on things like lottery tickets, prepared drinks, and restaurants. The same low-income families spend an average of 4x as much on lottery tickets as households bringing in $75,000 or more in annual income. […]
We all love money, well - maybe not love - but we like it a lot, even if we don't want to admit it out loud. The fact is, we need money to survive in this world, and that same money allows us to have things we need and want. Money can even grease the wheels of many situations. With money comes relief that you know the bills will be covered, convenience that you can get more things done, clout to help you gain a more successful position in work and life, and even influence to get others to do what you need and want. Money is powerful. The thought of getting money is often what motivates us to work because when that project is done, there's a financial reward on its way.
Despite all of us loving and needing money, the fact is that money is not always as easy to get as we would wish. For some, when they get their hands on money, it immediately burns a hole in their pocket. As a freelancer and business owner, you most likely focus on money on a daily basis because so many decisions relate to it. These decisions involve how to get more money from clients and projects as well as how much to spend your funds on marketing to get those clients and projects. Other money decisions are about the many places it needs to be sent and whether the costs can be reduced in any way so as to save some of that cash. Then, there are decisions about how much money to pay any support staff or outsourced talent as well as how much money to reinvest in the business or put toward retirement.
Every one of these decisions about money impacts your bottom line. The bottom line can put a lot of pressure on a business owner because you don't want your lack of knowledge about money to be a reason that could lead to failure. Instead, it makes sense to spend the time learning about how to be smart with money and use it to your advantage. That's why we created a Money Tips category on our blog.
In this category, you will be able to find a diverse range of money tips that you can apply to your freelance or small business as well as your personal life, building money management skills and expanding your knowledge about how money can -- and should -- be used effectively. Here are some of the main subjects covered under the Money Tips category:
- How to double your income and find more clients and projects.
- Why it's important to create income diversity.
- How to leverage business debt and how to get out of debt.
- Tax breaks and deductions that a small business owner can take.
- Ways to budget on a variable income and how to create and stick to a budget.
- Methods for ensuring financial compliance in your business and the impact of credit scores on your business.
- How to improve cash flow and address clients that have not paid on time.
- Ways to source more capital and spend your funding effectively.
- How to find a good accountant.
- How to fund a retirement account and ways to save more money.
- How to get a month ahead on bills and deal with unexpected setbacks.
These subjects and more are now available in our blog library. Let us know what other money tips you would like to have included on the Due blog!