POST CATEGORY : Finance

3 Methods Small Businesses are Using to Save Money

Bootstrapping a small business is difficult. Every penny that comes in and goes out needs to be properly managed to ensure your business stays afloat. The same money-saving savviness that business owners exhibit when they’re just opening their business seems to slowly fade over time.

save business money

Every industry has their own tips to save money, but there are options for every business owner to reduce their expenditures.

Sometimes, a few hundred dollars in savings is the difference between keeping the lights on and liquidating.

So, what methods are small businesses using to save money in 2018?

1. Co-working Spaces or Part-time Office Space

Startups are savvy because they have no problems with being mobile.…

Continue reading →

Debt Settlement Dos & Don’ts

Are you barely staying above water making the minimum payments each month? This might seem like the only viable strategy available but in reality, you’re only spending more money in interest each month. Financial freedom is nowhere near. What are you to do? Sell all your things? Set a strict budget? Move in with family?

Debt settlement

All these measures are good ideas if your debt has gotten out of control, but depending on the amount you owe, they might not be enough to save you. While debt settlement certainly isn’t the wisest option for all debtors, it can be an effective last resort in dire situations.…

Continue reading →

3 Ways Office Employees Can Get Better Insurance

Does your current employee benefits and life insurance package make you feel more appreciated for the work you do? While the Department of Labour’s Office of Workers’ Compensation Programs (OWCP) offers various compensation programs (that provide wage replacement benefits, medical treatment, and other benefits) your employer’s health insurance programs may not fully take care of you or your family.

Employee insurance

Administering insurances for HSAs, COBRA, or CDH accounts can be a headache and logistics nightmare. Especially if you’re an employee who doesn’t know what you rightfully deserve in terms of benefits and health plans.

1. Employee Wellness Programs

Wellness Programs are expected to have a huge “breakthrough” in 2018.…

Continue reading →

4 Tactics For Winning Asset-based Business Loans

Whether you’re a start-up, limited liability corporation (LLC) or a sole proprietorship, an asset-based loan is key for expanding your company. These forms of loans are based on assets (such as inventory) that is used as collateral. You are essentially promising the bank/lender that your revenue will match (or surpass) their initial loan payment.

Asset-based business loans

If you have a few minutes, I’d like to share some insights for making sure lenders look favourably on you.

1. Stand Strong

Business partners, colleagues and even your friends may try to deter you from taking out an asset-based loan. Citing risks such as default payment, using the process as scare tactics or even losing your business.…

Continue reading →

ROI Revisions: A Guide to Keeping Your Startup Out of the Red

You know what they say…starting up a business can be a risky thing. Statistics show that that 50-70% of most startups do not make it past their first 18 months in business, and trying to ensure that your startup doesn’t fall into that boat can be a stressful, daunting task.

Startup business owners analyzing business finances

Luckily, we are here to guide you on ways in which you can avoid becoming a statistic, and instead, have a startup that thrives not just financially, but on all levels. To find out more, keep on reading our guide to keeping your startup out of the red.

1. Do Your Homework

Like everything else in life, you need to start off doing your homework.…

Continue reading →

Why Healthy Relationships are Financially Sound

There’s a time in every couple’s life when things move from dating to planning marriage, kids and an entire life together. Besides love and happily ever after, this step forward involves a wide series of changes in a couple’s life.

Money heart

Moving together means sharing not only the house but also the current expenses. Who’s paying for what could soon become a problem in a couple’s dynamic. Because talking about money is less fun than planning the next night out. So, before saying ‘I Do’, partners should take some time to discuss finance.

Knowing what to expect from your partner in terms of financial stability is essential when planning to build a family.…

Continue reading →

Top 5 Mobile Payment Trends that will Disrupt 2018

Everyone and (literally) their grandparents are using mobile phones and devices to make payments on the fly. From using mobile wallets to buy products without a visit to the cashier — to banks making online bill payments more secure — there’s no end to the impact mobile will disrupt the way we make purchases in 2018 and beyond.

Making contactless mobile payment

The commonly-held drawbacks of the past have been usurped largely by the technology of the present and the promise of what it can offer in the future. The fact is, mobile payments using physical EMV, and online payment technology are as secure as any method used in the past.…

Continue reading →

6 Types of Insurance Every Small Business Owner Needs

Businesses face significant risks from their day of inception. These risks do not arise when the business hires its first employee as a law suit can deem catastrophic to a business even before it opens its doors to clients. In such a case, it is not only vital to have insurance, but the right type of insurance.

Small business insurance

Luckily, there are a myriad of insurance plans for small businesses to shield them from these risks. Below are six types of insurance for small business owners.

1. Property Insurance

Most, if not all, businesses own or sometimes lease its premises, office equipment, inventory among other property.…

Continue reading →

3 Ways to Improve Retirement Planning

One of the many things that can put stress to people is thinking about future and making retirement plans. Younger generations almost never think about retirement planning, although this is serious and important issue to think about.

Retirement planning

Saving money to spend it in retirement days seems like a thing far away to many people, but truth is that time goes fast and it is wise to make plans about future. Many people avoid retirement planning because it reminds them of getting old. But you should get rid of that mindset, quick!

Life begins after you retire

Sure, the working days are over, but being retired does not mean that the life stops.…

Continue reading →