Cut Overhead and Increase Bottom Lines – Start with People

How to Increase Your Bottom Lines

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If you are looking to increase your company’s profits, a good place to start is to lower overhead costs. Since these are ongoing operating expenses that aren’t directly tied to sales, you may think that these costs are inevitable and needed to run a business. However, if you really dig deep, you may find that some corners can be cut and some crippling costs may be eliminated.

A major portion of your overhead costs are employees, so assessing your people is a great place to begin when cutting costs and ultimately improving your bottom line.

Don’t Overhire

It’s easier to handle a bunch of different tasks with a big team of helpful employees, but having too many employees increases costs. If . . . → Read More: Cut Overhead and Increase Bottom Lines – Start with People

The Rental Property Wealth Calculator: Your Path to Millionaire Status

Rental Property Wealth Calculator

 

Do you have a passion for real estate? Have you ever wondered how fast your rental empire could grow? And how quickly you’d become wealthy?

I’ve spent quite a few nights trying to figure out over the years:

When we’ll have enough money to buy the next rental How much we’ll earn from year to year And how much our net worth will grow as I acquire more and more rentals

Pretty much I always ended up with a notebook page filled with scribbles and cross-outs, and a very vague sense of how everything would play out with the rentals 10+ years from today.

Finally, I decided that I’ve had enough with my rough estimations! It was time to figure out all of the details exactly. So you probably know what that means! It was time to build another Excel-based calculator! 🙂

(Interested in all the free tools . . . → Read More: The Rental Property Wealth Calculator: Your Path to Millionaire Status

Make Money in the Internet Age

Make Money in the Internet Age

Thanks to the internet, there are endless amounts of ways to make money or start your own business. Whether you are an entrepreneur or trying to make some extra cash, the internet offers you the chance to do so with little to no upfront cost. Check out my list of different ways to make money in the internet age!

Web Design

There is no excuse to have a poorly designed website in today’s world. It can kill credibility and hurt a business more than companies may realize. That is why web design has become an in-demand profession that can be done from the comfort of your home computer. If you have HTML knowledge and a creative eye, you can create an online service that makes attractive and accessible websites for other businesses. Use your web design skills to earn an easy paycheck by helping others bolster their online presence. . . . → Read More: Make Money in the Internet Age

I’ve Been Completely Debt Free For 2 Years Now – What’s Life Like Today?

completely debt free

It seems like it was so long ago, but I still remember that day as clearly as if it were yesterday. It was a mild day in mid-December and I just received my bi-weekly paycheck. With this payment, my bank account was bolstered to an amount $1,500 greater than my last remaining debt, the $14,799 home loan. It took just one click of the mouse. I was completely debt free.

An immediately smile was drawn onto my face. The final weight was lifted off from my back. I was now free to live the life I chose, rather than the one I handcuffed myself to. That day marked the end of my debt payoff and the beginning of my wealth creation. I just knew that from that moment onward, my life was going to be so much better.

Related: How I Paid Off My Mortgage in One Year

Completely Debt . . . → Read More: I’ve Been Completely Debt Free For 2 Years Now – What’s Life Like Today?

What If I Had a Zero Credit Score? The Pros and Cons…

zero credit score

Do you have a credit score of 740 or more? Well then you must be a financial success! Or maybe not….

What does that credit score really mean?

According to MyFICO.com, a credit score is made up of five categories:

Payment history – do you pay your bills on time? Amounts owed – the lower the balance the better (but not stagnant at zero) Length of credit history – the longer the better New credit – some is okay, too much is a red flag Types of credit used – it’s best if you have credit cards and installment loans (car loan, student loans, etc.) and manage them responsibly

So let’s step back for one second here. After reviewing these five categories, what actions actually build up a high credit score?

You continually use debt, but you pay your bills on time You have student loans, car loans, mortgage loans, . . . → Read More: What If I Had a Zero Credit Score? The Pros and Cons…

How to Apply Maslow’s Heirarchy to Your Money This Year

Hierarchy of Needs

You might vaguely remember your psychology teacher talking about Maslow. He pointed at a picture of a triangle as you nodded off in the back of the school room.

But that triangle might mean more than you think. Today, I’ll give you a refresher course on Maslow’s Hierarchy of Needs and tell you how this applies to your money. If you’re missing a rung in this ladder, this might be the “aha” moment you’ve been seeking.

This post has been written by Jamie Jeffers, our talented staff writer. Enjoy!

Maslow developed his needs theory in the 1940s and 50s. Psychologists, teachers, businessmen, and others have used his theories to help motivate people ever since.

The theory is often portrayed as a pyramid with a wide base. The bottom needs should be fulfilled first. Without basic needs being met, it will be harder to motivate someone to care about the . . . → Read More: How to Apply Maslow’s Heirarchy to Your Money This Year

10 Things You Need to Do to Set Your Blog Up for Success

set your blog up for success

If you’ve been on this site for more than 5 minutes, you already know that I’m a gargantuan (which is much bigger than huge by the way) fan of starting your own blog.

I started this blog in 2010 and I’ve earned more than $100,000 because of it – heck, Penny Hoarder even featured me in a post about it! It’s been a fun ride to say the least, but now my mission is not just to keep earning money online, but to teach you how to do it too!

In order to get you started with a bang (meaning…getting you some visitors and pretty soon, some MONEY!), I’ve committed to writing one post every couple of weeks to help you grow your blog bigger than you ever thought possible.

In case you missed some of the prior posts, here’s a list of what I’ve written already:

Start Your Own . . . → Read More: 10 Things You Need to Do to Set Your Blog Up for Success

100+ Ways to Make Money on the Side

Make Money on the Side

Is your salary lower than you’d like? Are you dissatisfied with your job? Have you ever wondered how you could make money on the side?

I had these same exact thoughts 6 years ago and that’s exactly the reason I started my blog. This single decision bumped my side income up to $10,000+ a year and it also improved my day job salary because I was proving my interest and skill in finance. If you’ve thought about blogging on the side, I would highly recommend it. In fact, here’s a step-by-step tutorial that shows you how to set up your blog for less than $24!

100+ Ways to Make Money on the Side

If you’d rather stab your eyes out than start a blog, then I’d suggest looking to these five other fantastic sources. All combined, there’s more than 100 ways to make money on the side here.

Let . . . → Read More: 100+ Ways to Make Money on the Side

How to Monetize Your Entire Life

How to Monetize Your Entire Life

At this stage in my career, it’s pretty safe to say that I’ve found a way to monetize my entire life. That is to say, I can make money just by being myself.

This post has been written by Amanda Abella, an amazing writer and speaker in personal finance.

The ability to monetize your entire life is no longer a pipe dream thanks to social media. How many “celebrities” are out there simply because they learned how to monetize their names on social media? The Kardashians make millions and YouTube is full of “celebrities” who make money with content about their lives.

While it personally took me a while, I’ve learned how to make money with content from my life as well. Here are some tips on how to monetize your entire life.

Create a personal brand

The first step in learning how to monetize your entire life is to . . . → Read More: How to Monetize Your Entire Life

5 Things To Do With Those (Inevitable) Unwanted Holiday Gifts

5 Things to Do With Those Unwanted Holiday Gifts

The Holiday Season has recently ended. And, as we all know, with the holidays comes the receipt of well-meaning gifts that we do not need, do not want and will not use. A recent survey indicated that 42 percent of women had received an unwanted gift during the past holiday season alone (and from their husbands no less).

What To Do With Those Unwanted Holiday Gifts

In the past, unwanted holiday gifts tended to end up cluttering closets, attics and garages, or inevitably ended up in the trash. However, these days people are becoming increasingly thrifty and inventive during the holidays when it comes to gifts that have to go. Here are five great tips to help you make the most of gifts you just do not want.

This post has been written by Will Lipovsky, our talented staff writer.

1) Return Them

Don’t leave that unwanted holiday gift . . . → Read More: 5 Things To Do With Those (Inevitable) Unwanted Holiday Gifts