Entrepreneurship may seem lucrative, and successful business owners are discussed and promoted in the media. Being an entrepreneur may look exciting and fun, but the road to success is very difficult. Those who succeed take huge risks, work long hours, and find a certain amount of luck along the way. Your decision to start a […]
5 Tips For Taking Out Your First Mortgage
in Mortgages and Loans/by Kenneth W. BoydNearly all first-time homebuyers must take out a mortgage to buy that first home, and the process can be frustrating. Applying for a mortgage is no easy task and lenders may reject you, if they decide that you can’t make your mortgage payments on time. There are many variables that a lender will consider, […]
4 Persistent Myths About Business Finance Busted Wide Open
in Personal Finance/by Kenneth W. BoydGoing into business for yourself can be incredibly liberating. If you’ve spent years working for someone else, the prospect of being your own boss can be incredibly appealing. You’ll have the ability to choose your clients, the type of work you do, and the prices you charge. Owning your own business can also have a […]
4 Limited Company Liabilities and Legalities You Should Know About
in Personal Finance/by Kenneth W. BoydTwo major issues for any business owner are the ability to generate profits, and protection from legal liability. The U.S. tax law provides for Limited Liability Companies (LLCs), which offer ownership flexibility and legal protections for the owner. The UK offers business owners a similar business structure: a limited company. Here are the pros and […]
Business vs. Personal Finances: Keeping Things Separate
in Personal Finance/by Kenneth W. BoydHow is your business performing? Are you making a profit? For many business owners, the answer is: “I’m not sure…” When you set up a new business or start to work for yourself, you need to establish some business accounting records, and can keep your business and personal finances separate. If you combine the two, […]
3 Ways Being Cheap Can Prove To Be Costly
in Personal Finance/by Kenneth W. BoydThinking about your spending decisions is important, but don’t overdo it. To improve your personal finances, you have to become frugal. This is especially true if you’re trying to pay off debt; you may want to slash your budget to the bone, so that you can repay your debts as soon as possible. Sadly, frugality […]
Let’s Talk About Wealth And How You Can Increase Yours
in Personal Finance/by Kenneth W. BoydCreating a plan for your personal finances can help you get better outcomes, regardless of your current financial situation. Your financial plan should address your monthly expenses, managing your debt, and funding a savings account. Use these tips to improve your personal finances. Why Expenses Are So Important The best way to increase your wealth […]
The Core Principles of Starting Your Own Business
in Personal Finance/by Kenneth W. BoydEntrepreneurship may seem lucrative, and successful business owners are discussed and promoted in the media. Being an entrepreneur may look exciting and fun, but the road to success is very difficult. Those who succeed take huge risks, work long hours, and find a certain amount of luck along the way. Your decision to start a […]
Finding The Light At The End Of The Debt Tunnel
in Personal Finance/by Kenneth W. BoydFor many consumers, managing debt can seem overwhelming. Finding an effective way to reduce debt is a key to improving your personal finances. Use these tips to find a light at the end of the debt tunnel and improve your finances. In 2017, household debt in the U.S. rose to more than $13 trillion. While […]
The Struggles Of Earning Money From Rental Properties
in Personal Finance/by Kenneth W. BoydFor decades, real estate has been a useful investment option, particularly as a way to diversify a portfolio that contains stock and bond investments. One way to produce a return on real estate is to generate rental income, and this form of income can improve your personal finance situation. If you can develop a regular […]
Protecting Yourself Financially As You Age
in Personal Finance/by Kenneth W. BoydManaging your finances effectively becomes critical as you age. Smart decisions about your finances help you generate enough assets to retire, and create wealth that you can pass on to your family. Here are some pointers you can use to get on track financially: