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Life Tips for Personal, Financial and Business Growth

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5 Smart Things To Do With Your Money

Many of us know that money is a good thing; however, fewer of us know exactly what the best things to do with it are. If you’ve ever wondered what the smartest things to do are with the money you have, you’ve come to the right place.

Take a look at some of the best things you can do for your finances.

 

Invest

Saving for your future is a critical part of being an adult. The best way to save is to invest your money in the right places. Whether you want to invest in real estate or start a retirement account, the idea is to put your money somewhere that it will grow. The earlier you start investing your money in something, the more time that it will have to increase in value.

 

Create a Budget

One of the most common reasons why people run into problems with their money is because they don’t have a budget set in place. A budget is there to make sure that you’re not overspending in certain areas that could get you in trouble.

The great news is that creating a budget for your money is as simple as downloading an app that helps you keep track of your spending. After tracking your expenses for several months, sticking to your budget will start to become like second nature.

 

Stay Out Of Debt

One of the worst things you can do for your finances is getting yourself into an unmanageable amount of debt. Pay off your debts as soon as you can, without letting them get out of control.

Even though you might be tempted to put off repaying your debts, you only end up spending more money in the long run. Whenever possible, pay money towards your outstanding debts, and make it a priority to pay them off entirely as soon as possible.

 

Put Away Monthly Savings

A lot of people don’t like the idea of saving because they’d rather live in the moment. However, what a lot of people don’t realize is that saving can add up in small amounts over time. By putting away a small amount each week or even month, you can see your savings grow exponentially over the years. Try to get into the habit of putting away a little bit after each paycheck. Slowly and steadily, you’ll see your hard work pay off.

 

Avoid Impulse Purchases

It’s not uncommon for people to see a product or service that they are convinced they can’t live without. In the heat of the moment, they throw all of their money away for one single thing. However, impulse purchases are your worst enemy. Before you spend a lot of money on anything, make sure that you’ve thought well and hard about it.

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The Top Three Benefits of the Right Bookkeeping Process for Your Business

One of the most integral processes involved in running a business is bookkeeping, and it’s a wonder how many businesses fail to prioritise it and end up having to deal with financial problems later on. Aside from the fact that you are obligated under UK law to record and maintain the most accurate financial records, bookkeeping is necessary for you to make more informed decisions and facilitate your business’ growth. If you would like your enterprise to get ahead of the game and become more robust, you need to pay attention to your bookkeeping process. Here’s what you should know about the top three benefits of the right bookkeeping process for your business.

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  • You can budget more easily

Budgeting is tricky, and any business owner knows this from the get-go. When you have a proper budget, then you will have a better and clearer idea of what you should be spending on and what you should do to save. If your business income, as well as expenses, are organised properly, then you will have an easier time reviewing your financial profits and resources. With a proper budget, you will have a better road map for your enterprise, and you can easily plan for expenses for the future and know where your money will be coming from as well.

  • Preparation for taxes

Everyone has to settle taxes, and there are no ifs or buts about it. And although we all know that we have to do it every year, we still end up scrambling and scrounging through paperwork to get the financial info we need. If you want the process of filing your business taxes to be more efficient, you should have proper bookkeeping so you can have all the info you need at your fingertips come tax time. You can have one single system where all your financial records and statements are kept, and when it’s time to fix your tax returns – both as a business and as an individual – then you can be more organised and even avoid fees and fines due to errors or misplaced data. You can also seek help from expert bookkeeping services, so you don’t have to worry about your records; they can do it all for you.

  • Better organisation for your business

It can be difficult to be as organised as possible when you are running a business, but it is a necessity, nevertheless. With proper bookkeeping procedures, you can have whatever financial information you need right away. As a business owner, you have more than a few parties and authorities interested in your financial records, from HMRC to employees, investors, lenders, and even customers. If you can provide them with the information they request, this goes a long way for continued smooth operations. If you cannot readily provide financial records to HMRC, you could face fines and penalties. If you cannot provide financial records to lenders or investors, this could mean a loan refusal, resulting in less cash flow. In its essence, bookkeeping is the proper organisation of your financial data and information – and if your records are well-organised, you can more easily provide information to whoever asks for it, and, more importantly, know how your business is faring and what its future prospects really are.

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Shift Happens: Jacques Poujade Shares How To Survive (And Thrive) In a Real Estate Downturn

One of the things investors love the most about real estate investing is its typical stability. Real estate is considered a very safe investing option, because it remains stable, and over time, typically always grows in value.

But when there’s a real estate downturn, some investors might feel rattled. Jacques Poujade, a real estate investing expert with decades of experience in the industry, has seen his share of ups and downs when it comes to investing.

We caught up with Poujade to talk about his experience, and how to survive (and thrive) in a real estate downturn.

Jacques, tell us about the work you do now.

I’m a managing partner at LendPlus, a real estate brokerage and financing firm that is based in California. Our goal is to help borrowers finance their dream home, without typical barriers that come with lending.

My personal belief is that everyone deserves to achieve their version of the American Dream, but this system isn’t built for accessibility. You need people on your side to help you get there.

How did you get to where you are today?

In school I studied commerce, and I got my Bachelors degree from Concordia University. I then earned my Masters in Finance from McGill University. After that, I jumped into the world of finance, and my first position was a supervisory role at Coopers & Lybrand.

After that, I moved around to different roles at other firms and businesses, such as the First National Bank of Boston and Zimcor Group.

What happens in a real estate downturn?

There are a few things that can happen in a real estate downturn, or a when there’s a recession in the market. First of all, home prices tend to fall, as do mortgage rates, because less people are actually buying homes.

The rental industry can also be heavily impacted, as renters are more likely to be hurt by unemployment trends, and likely have less savings to fall back on. So, whether you’re looking to sell a property, buy a property, or you own investment properties, a downturn can definitely impact you.

What’s one thing to keep in mind to survive in a downturn?

Ride it out. The best thing you can do if you’re feeling the impact of a downturn is wait. If you sell during a downturn, you’re going to earn less than you would otherwise.

Of course, sometimes this is the only option for someone who needs the capital, and that’s okay too. The point of having investments and diverse assets is financial security.

How can someone thrive in a downturn?

If you’re able to, downturns are an excellent time to expand your portfolio, because of the low price of properties, and the low mortgage rates. Those mortgage rates alone could save you thousands and thousands of dollars in the long run. If you’re in a position to strike during the downturn, the iron is definitely hot.

For the latest news about trends in the world of real estate, check out: https://jacquespoujade.wordpress.com/

 

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When Should You Step into Your Teen’s Private Life?

Every parent wants to find the right balance between paying attention to what’s going on in their teen’s life, and not being too interfering. A lot of parents can worry that their teen will think they are being nosy or aim to shut them out should they push too much. However, it’s very difficult to distance yourself as a parent and let them have their own routine without worrying.

While it’s important to step back and allow teens to make their own mistakes and learn from them, there are also those critical times when your interference is key to helping them on a better path.

So are there times when it’s okay to step into your teen’s private life?

When You Suspect Dangerous Behavior

Most teens can be unruly and rebellious during these key years, and it’s likely they’ll fall into bad situations when out exploring with friends or even exploring by themselves. However, when situations which can be frowned upon turn into seriously dangerous situations, you should speak with your teen. This might be them hanging around in dangerous locations, getting involved with the wrong crowd, or finding themselves at the center of crime.

When You Suspect Substance Abuse

Teens will naturally want to try new things like alcohol, smoking, or even drugs. Substance abuse is when this curiosity becomes dangerous, and addiction is likely. If you find an indication of substance abuse or unhealthy habits, you should speak to your teen.

When You Suspect Mental Illness

Mental illness can be prevalent in young people because teenage years are such a pressurized and significant period of their lives. If you have any suspicions that your teen is suffering from mental illness, stepping in as a parent as soon as possible is key to them finding the help they need. You may want to consider a treatment center like igniteteentreatment.com and discuss options with your teen to aid them in their recovery.

When Their Education is Being Affected

If your teen’s teachers have expressed their concern over the behavior of your teen, or perhaps bad grades despite exceptional behavior, there could be an underlying reason for this, and it shouldn’t be ignored by a parent. You can work with your teen’s educational facility to work through any problems which could be affecting their grades.

When They Are Spending Too Much Time with Technology

Telling your teen to stop spending so much time staring at a screen may sound like a cliché, and your teen may not react well to it, but technology becomes a problem when it’s affecting your teen’s life or self-esteem. Social media, in particular, is a big issue, as social media addiction is always possible. Not only that, but a teen spending too much time online can affect them negatively.

You may also need to step in if they have unsafe online practices, such as failing to protect personal information or browsing the wrong sites. Educating them on healthy browsing practices is always key.

Knowing when to step in or not step in should be decided after observing key behaviors in your teen and always staying aware as a parent.

 

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When Do You Need a Marriage Counselor?

It is always said that getting married means falling in love with the right partner and living a happy life. However, that is never the case, especially when not prepared to face the challenges of marriages. For this reason, the existence of a marriage counselor helps in solving marriage problems and restoring relationships between couples. That said, here are the situations that call for a marriage therapist.

When There is Lack of Communication

Mostly, many relationships are affected by a lack of interaction between partners. When there aren’t any talks between couples, it is high time to schedule a counselor meeting. Here, there will be the introduction of new communication approaches crucial for the marriage. Notably, a counselor helps in restoring communication.

When There is Misunderstanding

Besides lack of total communication, couples can be engaging in negative talks that always leaves one partner judged and disregarded or getting the urge to leave the conversation pending. It also includes inappropriate tones and yelling, which can be devastating. In this case, a counselor comes in handy to facilitate productive and smooth communications between couples.

When You Fear Talking To Your Partner

One partner can fear bringing up issues ranging from sex to irritating habits of the other partner. Such fears can impact the marriage hence requires the professional help of marriage therapists. Sessions with a counselor help the affected individual become clear of different topics while enabling the other partner to understand better what they need.

When Affection Turns to Punishment

Typically, marriages have a misunderstanding that can be solved when the two discuss it and find an appropriate solution. But when the husband or wife seems to become punishing through denying perfections, a counselor may help. The motive is encouraging couples to find effective means of solving issues rather than punishing the other partner by denying them the warmth they deserve.

When You Are Keeping Secrets

Though each partner needs to have their privacy, it doesn’t mean keeping secrets from each other. When there are untold issues or discussions that one or both partners are staying away from, it means something isn’t right. Among other secrets, it is essential to visit a counselor to resolve such instances.

When You Have An Affair

Affairs are among the most common causes of a failed marriage, hence resolving the problem earlier. Essentially, it is vital to call a counselor sooner immediately when fantasizing about an affair. Desiring something different makes it possible to begin other marriage problems such as keeping secrets, frequent arguments, and becoming uninterested in the marriage. Though some marriages can work after an affair, it is vital to seek professional help earlier.

When There is Financial Dishonesty

Also referred to as financial fidelity, it is the act of spending money without the other partner’s knowledge. It also refers to one partner taking control of finances more so when the spouse asks about monthly budgets and bills, savings, and other money issues. Consulting a counselor helps solve such matters fast and get a free and equal contribution to money usage.

When You are Living Separate Lives

When husband and wife turn from living as married couples to roommates, it is time for a counselor to intervene. This is often caused by a lack of intimacy, communication, or feel they can’t live together. With a counselor, it helps them understand each other and talk it our hence restoring the marriage.

When There is Change in Sex Life

If the bedroom life seems to shift significantly, it is a sign that things aren’t right in the relationship. Though it isn’t unusual for sex changes once in a while, some adjustments can be sudden and severe to the other spouse. An increase in intimacy signifies the other partner is trying to justify some mistakes made while the reductions indicate stress or lack of interest. Irrespective of the changes, scheduling sessions with a counselor is vital.

When There are Recurring Arguments

Sometimes, the relationship can have one or more issues for months without getting a definitive solution. Notably, most marriages have one argument that never ends. But when the fight becomes the center point for significant misunderstandings, it is high time to include an expert. Whether it is family finances, child-rearing, or sex, a counselor can help solve such problems. Elimination of such arguments can help in achieving various relationship goals.

Most spouses wait longer before consulting a counselor to help in resolving various marriage problems. But when misunderstandings are handled on time, both spouses can get the peace they seek and help maintain the marriage successfully. As such, it is essential to consult a marriage expert sooner for better results.