We've probably all been there at some point in our lives — staring at those bills, trying to figure out how the heck we ended up drowning in debt again. Whether it's unexpected emergencies, lack of planning, or just a case of the "I want it" taking over, debt can quickly spiral into a vicious cycle that can leave you feeling suffocated.
If this is you — it's time to break free from those debt shackles and reclaim your financial freedom.
Read MoreKnowing where to stash your cash can feel a bit like choosing your fighter in a video game. Each option comes with its own set of powers, weaknesses, and strategies to maximize your wealth. Some of you might be thinking, "Any old bank account will do, right?" Let me stop you right there. Not all bank accounts are created equal — they come in different shapes and sizes, each with its own set of pros and cons.
Let’s look at some of the most common bank accounts. Getting your cash situated in the right spot can maximize returns, minimize fees, and generally make your money work harder for you.
Let's unpack these traits and see how to incorporate them into your financial journey.
Read MoreIn their book "The Next Millionaire Next Door," Dr. Thomas Stanley and his daughter, Dr. Sarah Stanley Fallaw, delve into the lives of self-made millionaires, revealing some surprising truths. These "millionaires next door" aren't living flashy lifestyles. Instead, they are hard-working people who share six common behavioral traits (“wealth factors”) that paved the path to their financial success.
Let's unpack these traits and see how to incorporate them into your financial journey.
Read MoreIt's that time of year again — tax season is fast approaching! As a successful small business owner, we know you’re busy enough without stressing about gathering receipts, tallying up expenses, and rushing to file your taxes on time.
But fear not! With a few organizational tips and tricks in place throughout the year, you can reduce your tax prep stress and breeze through tax time next year.
Read MoreJotting down your goals and visualizing their realization is exciting, but it's merely the starting point. Genuine progress happens when we dig deeper and adopt a mindset and lifestyle that aligns with our goals.
This is where establishing financial intentions comes into play. Our intentions propel us forward, even if we temporarily veer off course from an ambitious goal we've set.
Hiring your first employee is like adding a new character to the story of your business. You want to ensure they're a perfect fit, someone who can help you achieve your goals and take your company to the next level. So, let's jump into the exciting world of small business hiring and the employee onboarding process.
Read MoreSmall business scaling is not just about growing your operations, expanding your team, and increasing your offerings, but doing it sustainably and effectively. If you try to grow your business too quickly or too haphazardly, you could find yourself stuck down the road facing burnout, a lack of vision, or even cash flow problems. Learning effective strategies for scaling your small business can help you anticipate common challenges and discover actionable solutions.
Hiring your first employee is like adding a new character to the story of your business. You want to ensure they're a perfect fit, someone who can help you achieve your goals and take your company to the next level. So, let's jump into the exciting world of small business hiring and the employee onboarding process.
Read MoreEven with the current economy of rising prices, high inflation, and feeling like our dollar isn’t going as far as it used to, Americans are still planning to spend lavishly on holiday shopping, with figures surpassing pre-pandemic levels. And even though they may be more discerning in their gift buying with higher prices and less purchasing power, almost 40% of consumers plan on spending more than they did last year.
Whether you plan on spending as much or more than you have in previous years or stick to a tight budget, minimizing your stress and maximizing your finances can be at the top of your priority list.
Read MoreYou've reached a point where your small business is thriving, and you can no longer be a one-person show. Congratulations! It's time to take that next big step — hiring your first employee. This is a significant leap, and while it might feel a bit overwhelming, we’re here to give you some tips to help make the process more smooth and straightforward.
Hiring your first employee is like adding a new character to the story of your business. You want to ensure they're a perfect fit, someone who can help you achieve your goals and take your company to the next level. So, let's jump into the exciting world of small business hiring and the employee onboarding process.
Read MoreIf you’ve never created a budget before and have no idea where to start, it can feel overwhelming and to be perfectly honest, not much fun. However, helping our clients create their very first budget is one of our favorite tasks because we know budgeting is the launching point of an organized and intentional financial life.
While a budget is not a cure-all for all the financial woes you may be experiencing — in fact, most Americans do have a budget and still struggle with overspending — it’s still helpful to craft and utilize.
Read MoreDebt can be a necessary tool that allows us to accomplish major dreams like getting a college education, starting a business, funding our first car, or purchasing a home. However, some consumer debts, like credit cards and personal loans, are sometimes the result of poor financial discipline and planning.
If you’re struggling with lingering debt and want to know how to get out of debt quickly so you can move on to bigger and better things, we've got you covered!
As a nation, we are very generous with one of our most precious resources: money. In 2020 alone, Americans gave $471 billion to charities. And with over 1.54 million charitable organizations (in our country alone) to choose from, it’s not hard to find a worthy cause.
Many small businesses also encourage their employees to give their time and talents by volunteering locally. Small businesses often give more than their big business counterparts— 75% of small business owners give approximately 6% of their profits to charities every year.
Our lives are built upon a series of moments. Some are beautiful, while others are painful. Some are carefully planned, while others catch us off guard. Some are etched in our memories, while others fade away. However, what often ties these moments together is the inevitable financial impact they bring along.
Whether you’re currently planning for or eagerly anticipating certain moments in your life—even if their dates or timelines are uncertain or distant—it’s worthwhile to consider the financial implications.
Read MoreMost people don’t love the dreaded “B” word. The term budget can conjure feelings of restriction and thoughts of cash envelopes and eating ramen and beans.
Others may think it’s completely unnecessary because they make decent money and don’t struggle with debt. Or maybe others have been previously shamed for being unable to stick to a budget.
The truth is, everyone can benefit from a budget because it’s really just a plan for how you’re going to spend your money. You most likely have career plans, dinner plans, and vacation plans. Why not a plan for how you spend one of your most valuable resources?
Read MoreAnyone who runs their own business knows how thrilling and empowering it can be. Selling a product or service, working when and where you want, and having unlimited earning potential are just a few of the perks. But with all of this freedom comes a good deal of responsibility.
Read MoreDo you ever wonder why some businesses stay afloat in tough times, and other businesses fold even when things seem to be going well? A company could be revolutionary, have raving fans, and appear to be making a profit….and still not stay in business!
Usually, it’s not because a business is better, more popular, or successful on the surface. More likely, it comes down to effective cash flow management. According to research, 38% of startups fail because they run out of money.
When you receive a refund, it can be tempting to blow that money on anything that strikes your fancy. But what if you were able to use that refund to further your financial goals? In that case, you may want to think about the best ways to use your refund wisely, for your personal goals.
Read MoreThere are many differences between men and women, particularly when it comes to physical, behavioral, and emotional characteristics.
Men are typically taller, stronger, and have more muscle mass than women, while women are typically more nurturing and empathetic. Men tend to categorize the world by tasks and keep their emotions under wrap, while women tend to categorize life by relationships and openly share their feelings.
Each gender has its own strengths and weaknesses. It’s important to understand how these differences can lead men and women to approach certain topics, like personal finance, in unique ways. As women, this allows us to capitalize on our strengths and natural skills.
Personal finance for women is one of our favorite topics to talk about, so let’s dive into some areas where women approach money differently and three financial obstacles they must overcome!
Read MoreA common misconception is that if only we earned more money, we would have a comfortable lifestyle, financial security, and the ability to afford all the luxuries we could possibly imagine. We would be happy and healthy and certainly not be living paycheck to paycheck.
According to the paycheck-to-paycheck report from September 2022, approximately 45% of Americans earning over $100,000 say they live paycheck to paycheck. While approximately 47% of those making between $150,000 and $200,000 and 28% of those earning over $200,000 also report living paycheck to paycheck.
It would seem that getting ahead financially is not simply a numbers game…. “earn more money and everything will be okay.”
Read MoreWhen it comes to intimate relationships, money is often considered a topic to be avoided at all costs. We always think we should stay away from the subject for fear that it might put others off. Why bring up something that could make someone uncomfortable? Why bring up something so serious?
One of the top-cited reasons for divorce and breakups is financial differences or arguments about money.
Read MoreThe first step in building personal wealth is to understand our beliefs and values surrounding money. We can know all the best tips and tricks to implement, but if we don’t first believe we can build wealth, we won’t succeed. This positive mindset allows us to take on the challenge of wealth-building and surpass our wildest financial dreams.
We also need to understand that money is a tool. Money should never be a goal in and of itself, but rather a means to accomplish our ultimate dreams.
With all this being said, you’ll want to look out for these common stumbling blocks that can get in the way of personal wealth building. We want to dive into five financial mistakes that we often see so you can be on your way to building the life you always dreamed.
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