Have you ever read any finance books? No matter who you are or where you are in life, learning more about money is always a good move. There’s a lot going on in the financial world. Learning about making more money or investing is always a worthwhile pursuit. Financial education is something that will serve […]
HSA accounts, short for health savings accounts, are a type of tax-advantaged savings account used to save money on medical costs. If you have a qualifying high-deductible health plan (HDHP), you can sign up for an HSA account and contribute to save big on your taxes. If you don’t know what HSA accounts are or how […]
In the world of finance, there is always a debate about whether or not you should DIY your taxes. And as with all things finance, the answer is always “It depends.” (I know, don’t you hate that?) I can tell you that I have not done my own taxes in years. However, I did DIY […]
The scary (or exciting) thing about business is that things can change at any moment. All it takes is one little incident or unfortunate circumstance and your company’s entire situation and outlook can change, for better or worse. The question is, are you prepared to keep your business afloat during the rough patches that threaten […]
Entrepreneurship is a demanding gig. About 19 percent of business owners work more than 60 hours per week. Also, 82 percent work more than the standard 40 hours a week. On top of other responsibilities, including eating, sleeping, and spending time with the family, there’s not much time to manage your personal finances. However, every […]
Primary schools in the United States rarely teach anything about personal finance, but those are core skills everyone needs to get through life. If you are a parent of a high school student or a high schooler yourself, ensuring these skills are well understood and engrained will help any young person better succeed in personal […]
In my group coaching program, part of what I help students do is come up with a core offering. Once they have their one core offering, then they are encouraged to create offerings at different price points. There are several reasons why you want to consider creating products and services at different price points, but […]
Debt continues to be a problem among Americans of all ages and walks of life. In 2017, the total consumer debt among Americans rose 8.8 percent, to $3.827 trillion, setting a new record. The average household has a credit card balance of $15,654, and with total debts (including mortgages) of $131,431. With numbers consistently growing […]
I sometimes get into debates with people about whether or not starting a business is financially smart. The truth is, I get a lot of pushback on this. People often cite all the statistics as to how many businesses fail. Then they usually on to tell me about how they tried and it just didn’t […]
Let’s face it — budgeting when you have regular income is straightforward. You have a steady paycheck coming in at least bi-weekly that you can allocate to your bills, savings, debt, and investments. Variable income is another animal. Payments come in at different times and they can even come in months late. It can be […]
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!