Why give the bank, if you can keep it for yourself?
- Are you paying monthly fees on your checking account? $10 to $15 per month may seem small but you can save $60 to 120 yearly if you stop paying checking account fees
- Do you get interest fees added to your credit card balance every month, & still use that credit card for regular spending?
Do the following to plug money leaking holes:
- Open a ‘No fee’ checking Account
- It allows you limitless transactions without paying fees.
- Ready to open a No fee account? Here is a bank that offers it
- For Consumer spending, use ONLY the money that is yours:
- Do this by use of cash, debit card on your No fee checking Account & a prepaid credit card -see No 5.
- Stop using traditional high interest credit cards
- You pay interest fees every month you carry over a balance owing from previous month, increasing your debt burden.
- Pay off your credit card debt as fast as possible
- When you can, pay more than the minimum payment due.
- Get a prepaid credit card from a provider like KOHO
- Put the money you have into a prepaid card and spend from this.
- If you are concerned about growing your credit, Koho offers credit reporting, and best of all, they give cash backs & pay interest to you for the balance on your card after each month! How juicy is that?!
To get your Koho card, download the KOHO App from your device play store
When you use our referral code, & deposit 50CAD, you get a cash reward. Our code is 9BJ9Q4HU
Financial Fitness For Entrepreneurs: 5 Bookkeeping Habits that Drive Business Success
This book is written specifically for new business owners, people with side hustles, and founders of non profit organizations.
It details five essential bookkeeping habits to help business owners keep reliable business financial records.
Each habit is discussed with simple actionable steps that can be easily implemented, requiring no accounting expertise.
Get a copy of this book, implement the habits & take control of your business finances, to build a foundation for long lasting success!
Meet the 5 Bookkeeping habits that Drive Business Success
- Separate business transactions from personal: Set up separate debit & credit accounts solely for the business – makes it easier to track the business performance.
- Become Date Aware: The dates of business activities are very important in financial management. Check & record dates correctly when entering data; Add date to filenames.
- Save Information Proactively: Use electronic methods to save all business transactions; take pictures of receipts, scan documents; upload to a virtual storage e.g. google drive, one drive etc.
- Keep a business journal: Make time at the end of each day to record what you can recall about all business related activities & transactions -with date at the top!
- Periodic review of business activities: Do this weekly, monthly, quarterly etc. Using an accounting software helps!
Click the ‘Buy Now’ Button to order the book. Available as paperback and flipbook
Insurance Protection
Would you rather have it & not need it, or need it & not have it?
Most people understand that the purpose of insurance protection is that there is offer of a benefit, usually monetary, if the risk against which the policy was taken occurs.
Now the question each person or family must answer is – Which risk am I able or willing to bear should it happen, and which risk would be too heavy or stressful to bear if it occurs? Which risk can my family bear and which one would be a huge financial burden if they are exposed to it?
Imagine a stay at home mom of 3 children -yes she does not earn income, but can you quantify the cost of replacing the care she provides for her family if she became sick with cancer? Or if she passed away?
This may be hard, but imagine that worst case scenario and honestly answer the question, would I prefer to have critical illness insurance & never become sick as to need it; or am I okay with getting an unexpected cancer diagnosis with no insurance protection to fall back on?
If you feel you cannot afford the monthly premium for life or critical illness insurance then your family is actually in great need of that protection; because, should disaster happen, there will be no financial cushion at all!
The best time to get a life based insurance is when you are healthy & do not yet manifest the risk, once the risk event occurs, you are no longer insurable!
And by then your family could be in great need of the benefit. So would you rather have it and not need it or need it and not have it?
DO THE NEEDFUL NOW!
Enroll for coaching - Master your business bookkeeping to ensure your business thrives!
- Are you a service based small business?
- Are you on top of your business financial numbers or would you say you are not sure what they look like?
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- Did you make a profit or loss in the previous quarter of this year? What about last month?
- What is your business net worth?
If you are able to answer these questions then this training is not for you. You already have your bookkeeping in order!
If your business has been operating for between 6 months to 2 years, and you are unable to answer these questions, this training is definitely for you.
