Just when you thought that you had a gripe on your taxes, a global pandemic came along and mudded things up. I don’t say that to belittle the ones who have lost their jobs or loved ones. It’s just that on top of everything else you’ve anxiety and stress over, you know have to be […]
What you may not know about your credit score can hurt you. Did you know that the average American credit score is a 669-699. Sounds great right? It might sound amazing but if you the average person upped their credit score by 50 points, they would lower their mortgage interest rate by .5%. 20% of […]
The notion of retirement is a lot like the idea of driving a motorhome from coast to coast. At the beginning of your career journey, your goal of retirement seems remote and almost theoretical. By the time you arrive at your retirement destination, you’re surprised and delighted — but may wonder: “What happens now?”, how […]
How do you know what new investment accounts you should open when you’re a beginner? Investing is a topic that many find stressful. Especially when you are just getting started. There is always the advice of “talk to a financial advisor!” but when advisors are often looking for clients that have a minimum of $250,000 […]
On a recent blustery weekend, I decided to organize my desk. It seemed like a good idea. After all, it’s not like I had any other plans with it being so miserable outside — there’s also a pandemic going around. As I shuffled through the paperwork that’s been piling up, a rush of feeling overwhelmed […]
Everyone knows that 2020 was a landmark year in myriad ways. No matter who you are, you have been impacted by the COVID-19 pandemic. The pandemic has devastated many industries, causing a ton of struggles for small businesses in particular. Along with general finances, your tax returns for 2020 may be affected by the virus […]
COVID-19 pandemic changed the ways people make money. Traditional 9-5 jobs no longer provide a sense of financial security and stability as many businesses shut down due to the imposed restrictions set by governments across the globe. Many people were left jobless. Yet, it opened up several money-making opportunities that anyone can do even just […]
If you are considering a backdoor Roth IRA, chances are your income has put you over the threshold of making a direct contribution. So when you can’t just walk in the front door with your Roth money, what do you do? Luckily, there is another way for getting money in your Roth IRA, even when […]
Now that we are in a new year, should you still be trying to max out your 2020 retirement account? Or should you just move on to the year we are in, and start your 2021 contributions? This is one of the big questions new investors have, especially at the start of the year. If […]
While my parents were always able to make ends meet, there wasn’t much leftover. That meant that there wasn’t much wiggle room for unnecessary spending. However, I didn’t realize that that also meant that my parents weren’t prepared for retirement. While they do get Social Security and a small pension, money is tight for them. […]
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!