5 Tips for Managing Your Business Finances

Starting a business can be challenging, especially when it comes to handling your finances. Unless you’re an experienced bookkeeper, you might never have had the chance to manage so many funds at one time. Unless you’re lucky, you might end up driving your business into the ground. Avoid such a mishap by using the following tips to guide your business’s financial practices.

Create Invoices

Creating invoices for every item you sell is essential. Otherwise, you’ll quickly lose track of your transaction and forget how much money you’re owed by customers. You can even consider using an invoice service like Kabbage, which automatically generates and sends invoices to customers who make a purchase. If customers don’t have the funds to pay right away, they can then apply for extra capital to help them pay. This means you’ll get paid faster, while your customers have either six or 12 months to pay it off.

Hire an Accountant for Taxes

Taxes for a business are a lot different from your individual taxes. If you’ve never filed as a business before, it’s essential that you hire professional help when tax season rolls around. A bookkeeper can look over your records, analyze your data, and help you save as much money as possible. Plus, with his or her expertise, you’ll avoid missing any important caveats that could result in major fees.

Find a Local Credit Union

Even businesses with a lot of capital sometimes find themselves stretched for cash. To ensure your chances of getting a loan fast, have the number of a local credit union on speed dial. If you build a good relationship, the credit union might be willing to provide you with frequent small loans on a regular basis. You might have to become a member to reap these benefits, but they are well worth it.

Cut Down Costs

Chances are, there’s something you can do to cut down costs in your business. While you’ll always have to deal with fixed costs, identify your variable costs and see if you can cut back on them. Instead of investing in the latest computer software, see if there’s an open-source alternative. Instead of buying expensive phone plans, rely more on free online calling and video conferencing services.

Keep Personal and Business Expenses Separate

At first, you might be tempted to simply put business and personal expenses on the same credit card. However, this makes it extremely hard to track what you spend and to plan a realistic budget for your business. Always apply for a separate business credit card that you use only for purchases for your company.

Another idea is to create a savings account just for your business, in which you deposit a small amount of each payment you receive. After a while, you’ll build up a sizable sum that you can use to pay taxes or invest in new technologies.

With these tips in mind, you can keep your business financially healthy. By accurately keeping track of the money you have on hand, you’ll be able to make better decisions that will lead your company to success.

Five Career Choices for Compassionate People

If you are genuinely a caring person, you might want to look for a career that satisfies your need to help others, and still give you a good work-life balance. There is a misconception that those who look after others and help out in the community do low-paid jobs, but this is not always the case. If you want a rewarding career with loads of positive confirmation and great support networks, check out the below list and take your pick.

1. Nursing Manager

You don’t actually need to physically deliver the care, you can provide support for those who do. If you are concerned about the wellbeing of elderly people and those who suffer from illness, you can improve the quality of care and health care outcomes of treatments, by implementing evidence based intervention and projects. You will need to be compassionate, sensitive, a good listener, and a person who has a clear vision. To start at this career, you will need acls certification and a nursing and business management degree. You will be rewarded  with great results and respect from your team members.

2. Social Care Delivery Manager

If your life mission is to change lives and help people get out of crisis, you might want to become a social care delivery manager, you will need a high level of sensitivity to understand the needs of the population you serve, and great analytical skills. You must be a good listener, and get information from people who meet the public. A social care delivery manager has good time management, organizational, and project management skills.

3. Art Tutor

If you are an artistic person and would like to help young aspiring artists express themselves, build a career, and gain recognition, you can become an art tutor. You are likely to need an art degree, and a lot of patience. You will be rewarded by your students’ achievements and development, and gain community recognition.

4. Court Negotiator

Helping people in court when they are the most vulnerable is another career you might want to consider if you are a sensitive and compassionate person. A court negotiator will help people understand the law and the position of the other party, and help them avoid long and stressful procedures. You might offer counselling or mediation as a negotiator, and find a solution that is acceptable for both parties. This job is great if you are concerned with different social issues that affect people in the 21st century.

5. Wellness Coach

There are many ways of helping people, and one of them is making them realize their personal goals and abilities. A wellness coach listens to their customers’ concerns and creates a plan with them to optimize their health and wellbeing.

Whether you want to provide hands-on help for individuals or prefer putting your organizational skills to good use, you can build a successful career as a sensitive and compassionate person. You will benefit from a great job satisfaction, and learn a lot about the challenges other people face in life; let it be legal, health related, or social.

Earn Money Changing Lives

There’s no more rewarding way to make money and earn your living than to choose something that benefits other people, the community or changes lives. We all want to make the world a better place- and you may think that you’ll have to undergo years and years in medical school or law school in order to make a huge difference to the world and everyone in it, but in reality, you can still change a life by doing everyday jobs. You could start today and change the lives of people and animals around you by changing the way you look at your career.    

Foster Animals

Have you ever wondered what happens to pets who are abandoned or rescued before they are put up for adoption? In the same way children are fostered out to parents to give them a better chance at developing life skills and prepare them for adoption- you can foster animals as they are rehabilitated and as they wait to be adopted to their forever home. If you love animals and you have the time available to dedicate to caring for one, you can help the animal rescue services by offering yourself as a foster parent for an animal in need until they are ready for adoption. You’ll earn money for the work you do and be able to spend time with a beautiful animal. What could be better?

Become A Nurse

If you have always wanted to care for people but never go the grades to become a doctor, you can use your affinity for care to become a nurse instead. Nursing will require a course such as the Carson-Newman University Online RN to BSN Program, but it won’t take you 7 years to become a fully qualified nurse- and in a way being a nurse can be better because you get to talk to your patients and really get to know them.

Work For Charity

Working for a charity will not pay as much as a regular job, but it will give you a much bigger reward when you see the changes you can make to people’s lives. Working for charity will involve you going to fundraisers, visiting victims and vulnerable people and raising awareness for the cause. You could potentially be responsible for saving a life along the way with the money you raise.

Invest In Cancer Research

If investment is more of a thing you’d be willing to do- then you can look into investing in cancer research charities and organizations. You’ll be able to put money into the research and benefit if discoveries are made within the medical sector.

Train Guide Dogs

Lastly, if you love dogs and would love nothing more than to train puppies- you can become a guide dog trainer. You’ll be responsible for teaching these young dogs how to respond to their blind owner and how to guide them through the world. It will change someone’s life dramatically and allow them to live an independent life with a dog by their side.