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. […]
Once during school, I was chatting with a friend about our college majors. As a finance major, I knew I had a lucrative career path ahead. I asked my friend if she planned to teach or go to law school with her history degree. She said she didn’t want to do either and just picked […]
No one ever said, “I sat around and complained about my finances until they fixed themselves.” It takes time and dedication to turn around your money. But the first step before anything else is getting a clear understanding of your current financial situation and what exactly you want to fix. With that information in hand, […]
Money, including how we use and borrow it, has changed dramatically in just the past decade. Traditional payment methods are now peer-to-peer, contactless, and mobile versus cash, check, or plastic. We have primarily the internet and technology to thank for the new ways we conduct transactions. Now, imagine what will happen with money in the […]
Whether it is a small mistake on your part or a big question about your credit card, most credit card customers inevitably end up calling credit card customer service for help at some point. As you’ve probably noticed, your experience when calling in for customer service can vary dramatically. While the random dose of luck […]
Your credit score is an essential part of your finances. If you are interested in buying a home or a new vehicle with a loan, you may need to fix your credit score ASAP. The difference between an excellent credit score and a poor one can be worth tens of thousands of dollars over the […]
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!