Tips to Save Your Business Money

Retirement may be closing in, but that's no reason to ignore the changing tech that will save your business money and keep you up to date in the ever-changing, fast-moving world. 

You may have spent a few decades building your business from scratch, but a lot of the habits that you’ve grown into may be costing you more than you think. When it comes to using technology, it’s often easier to fall into the mindset of deciding it’s for the younger generation, but doing so may end up costing you more than you realize. 

Taking advantage of the technological perks of the modern world may just make your much-anticipated retirement even better.

Social Media

You may have been advertising in your local paper for the last 30 years, and you probably even get a long-term discount. The question that you need to ask yourself is whether or not that money is a business investment or a legacy of the days before social media? 

You may not be an avid user of Twitter, and you might just use Facebook to keep up with the grandkids, but it can be used for so much more than that.

Setting up a business page is quick and easy, and then it’s simply a matter of making an update or two every day, letting customers know about new stock, sharing relevant news articles or just a plain old “Good morning!” 



It may end up reaching more people and costing significantly less than that 30-year-old newspaper ad.

Trust in the technology

You might find that doing accounts on your computer is a lot more intimidating than sending everything off to your accountant, but there are a lot of reasons to feel safe. 

Although we are able to store everything on our devices, from photographs of the grandchildren to your customer’s contact details, there’s always that niggling doubt that technology will eventually fail or criminals will attack you with the latest virus, so that everything you have online or on your phone/laptop/PC will be lost forever. 

Luckily, with the help of your local computer forensics company you’ll find that most data is easily retrievable, especially if a crime has been committed and you need to build a case against them. Whether it has been lost by human error, a computer glitch or a malicious hack, trained Digital Data Forensics experts will protect your business. 

Knowing that your computer files are safe frees you up to use more and more of the online tools available that will help your business not simply save money, but to also grow.

Stay at Home

If yours is the kind of business that doesn’t require a brick and mortar store, then perhaps it’s time to work from home. The days of everyone needing to make the journey into work only to sit in an isolated cubicle from 9-5 are quickly fading. 

These days it is possible (and very easy) to get out of bed, switch on the computer and start work. No travel time, no travel costs. You end up saving money for yourself, your staff and ultimately for your customers. 

Between Facebook, Skype, Google Hangouts, WhatsApp, or the vast number of other options available to you, communicating with work colleagues while working from home has never been easier. Just imagine the savings you could make when you no longer need to pay rent on that office space.

If those suggestions have got you thinking, then that’s not even the end of it. If you open your mind to the possibilities of moving everything online, then you might find that the savings and profits will see you enjoying your retirement with even more money in the bank.

How Seniors Can Financially Prep for Healthcare Essentials

If you are a senior citizen, then you must prepare for health problems to avoid additional expenses. Today, people are living longer lives, but they are also living with an assortment of physical and mental health issues. It is especially important to prepare financially for daily or emergency medical problems.

Have Savings to Pay for Your Medical Bills

Make sure to have a saving account that has enough money to pay for medical appointments and medications. You may need to reduce your other expenses such as having cable television or taking vacations in order to have enough money saved for your health care needs. 

Watch for sales on over-the-counter medications such as pain relievers, cough syrup and antihistamines. You can find some of these medications on sale, or you can use coupons to save money. 


Check the expiration dates on medications to buy products that will remain fresh for several months or years.

Do You Qualify for Government-sponsored Medical Programs?

It is possible that you are eligible for government-sponsored insurance or medical programs. Some of these programs are operated at the federal, state or local level, so you should complete the necessary forms to determine if you qualify for any health care assistance. 

Not only should you have a last will and testament that is legally binding in your geographic region, but also, you should have a living will along with a health care proxy. 

You can choose a relative, friend or attorney to oversee your finances and health care when you are unable to make decisions on your own.

Reduce Your Other Debts

To avoid other expenses that will prevent you from paying medical bills, make sure to reduce your debts. Pay your credit card bills so that you aren’t paying high interest rates, and make sure to keep your mortgage payments up-to-date. 

As you get older, you may need in-home health care, so you should verify that your medical insurance includes this type of coverage. 

With in-home health care coverage, like that available from Baywood Home Care, you can hire a professional caregiver so that you can remain in your home while you are recovering from an injury or illness.

Look for a senior care advocate in your city. This professional can provide advice concerning the actions that you should take to protect you financially when you have a health problem that requires medical care.

Portfolio Progress: What You Should Do to Expand Your Wealth

Whether you’re a young person just starting off in your career or someone older who hasn’t yet become financially independent, wealth building is one of the most important things you can possibly do. 

Building your net worth will help you reach financial independence and give you stability for your retirement years. Here are four of the best ways to build your wealth and improve your personal finances.

Increase Your Income

To build serious wealth, you need to have extra money to put into productive investments. If you’re only breaking even between your income and your expenses, you’ll likely never be able to set aside enough to become truly financially independent. 

The first step in building wealth, therefore, should be trying to increase your income. In some cases, this may mean continuing your education so that you can get a higher-paying job. 

In others, you may be able to seek advancement in your company or consider offers from other firms that may pay you more. Whatever your situation is, you should focus on maximizing your income to give yourself the free capital you’ll need for your wealth-building efforts.

Talk to a Financial Advisor

Building wealth isn’t easy, and you’ll probably need some expert advice along the way. This is where a financial advisor comes in. Financial advisors can help with everything from investment advice to estate planning, depending on exactly where you are in the course of your financial life. 

A good advisor will help you understand the implications and benefits of different financial decisions while guiding you along the path to financial independence.

Stop Renting

Over a long period of time, few things are as needlessly expensive as renting the home in which you live. If at all possible, you should buy a home of your own. Some companies, like UBS – The Burish Group, know how important of a decision this can be. 

Not only will this save you money over the long haul, but it will also allow you to build equity in the property. Once it is paid off, your home is an asset that will retain a considerable amount of value. 

If you’re still renting, on the other hand, you’re just putting money into paying off a similar asset for someone else without building any equity in the process.

Create a Diverse Investment Portfolio

Though increasing your income and buying your home will help create the basic framework you need for financial independence, the activity that will produce the best results in the building of wealth is investment. 

You’ll need to create a diversified portfolio of investments that will produce stable returns over many years. If you need help constructing such a portfolio, talk to your financial advisor, as discussed above.

These steps, though seemingly simple, will help you get from where you are now to the realization of your personal financial goals. Remember that time is one of the most important concepts in finance. 

The more time you give yourself, the better off you’ll be. Start the process of building wealth as soon as you can to maximize your personal results.

Why More and More Retailers are Filing for Bankruptcy

From family-owned businesses to national chain stores, more and more retailers are filing for bankruptcy. Statistics show that retail bankruptcy filings were up more than 30 percent in 2017 from the year prior. 

So, what’s driving this change in the retail landscape, and what can retail business owners do to protect themselves?

The Transition from Offline to Online Shopping

Several factors play a role in the increasing number of retail closings, one of which is the trend of online shopping. It turns out that 51 percent of US Consumers prefer to shop online. Buying goods over the internet is often easier, more convenient and even cheaper. 

As a result, consumers have shifted their shopping habits from local shopping centers and malls to the internet.

Another issue is that supply, in many cases, outweighs demand. Retailers continue to open new stores in hopes of increasing revenue. With consumer demand stagnant, however, this doesn’t happen. 



Instead, retailers are left with a surplus of goods and high overhead costs. Retail business owners who want to survive must learn to adapt to market changes while providing a valuable service for consumers.

Major Retailers Filing for Bankruptcy

Even major retailers aren’t immune from these market changes. In September 2017, just months away from the holiday shopping season, Toys ‘R’ Us filed for Chapter 11 bankruptcy protection. This prompted the national kids’ toy retailer to close some 200 stores.

Payless ShoeSource also fell into hard times last year. In April, the shoe store filed for Chapter 11 bankruptcy protection, announcing the closure of approximately 800 stores.

Other retailers that have filed for bankruptcy protection in recent months include HHGregg, RadioShack, Eastern Outfitters, Gander Mountain, Gormans, Wet Seal and Aéropostale.

How Bankruptcy Protection Can Help

Filing bankruptcy doesn’t necessarily mean the retail business will close. On the contrary, many retailers file it to keep their business alive during periods of financial hardship. 

When a retail business owner cannot pay his or her bills, bankruptcy offers a second change. As a business owner, you can keep a bankruptcy lawyer like the Law Office of Barbara B. Braziel on call.

There are several different types of bankruptcy, including Chapter 7, Chapter 11 and Chapter 13. With Chapter 7, the business’s assets are handed over to a trustee who oversees its liquidation for the purpose of paying off debts. 

Chapter 11 and Chapter 13, however, typically provide retailers with an opportunity to continue their business. The retailer may arrange a reorganize their business structure, liquidating assets and closing stores, and he or she may agree to a repayment plan with creditors.

There’s an undeniable change happening in the retail landscape. However, retailers can overcome financial hardship by consolidating their operations and filing for bankruptcy protection.

Feeling Frugal? 4 Tips to Save Money on Home Repairs

Being a homeowner certainly has its benefits, but one downside of owning compared to renting is that you’ll be responsible for any repairs your home needs. That’s why financial experts recommend that homeowners leave room in their budgets for repair costs each year. 

Still, it’s natural to want the best deal on home repairs, especially when you have several repairs to do. Here are four helpful tips on how you can save some cash on home repairs.

See What You Can Do Yourself

The best way to cut your home repair costs is to do everything you can yourself. Now, whether this is worthwhile for you will depend on how handy you are and how much time it takes you to do the repairs. 

You don’t want to spend days on a simple repair or end up making your problem worse. But with all the tutorial videos out there, you can absolutely learn how to do some basic repairs online.

Find Deals on Materials

Even if you hire contractors for repairs, that doesn’t mean you need them buying the materials. You’re typically better off doing this yourself, because then you can shop for deals. 



Try visiting home improvement stores during their sales or looking for salvage materials. With a little luck and a good eye, you can get materials for much less than they’d usually cost.

Shop around for Contractors

When you know what you need done, it’s easy to call around and get estimates from different contractors like AAA Garage Door, Inc. and similar companies. Then you can compare them all to see who’s offering the best price. 

Just make sure that you look at their reviews, as well. You don’t want to go with the cheapest contractor if they have a bad reputation.

Look up What Labor Should Cost

It’s good to have an idea of how much labor would typically cost on the repair jobs you have, even if you looked around to get the best price on a contractor. 

You want to be knowledgeable of repair costs in case your contractor tells you that it’s actually going to cost more or if they determine that more work needs to be done. 

Understanding what everything should cost helps you avoid getting hustled. It’s smart to anticipate potential home repair costs by setting some money aside whenever you can. But when you do need repairs done, you should also do what you can to get the best bargain.

What are the Best Ways to Maximize Your Insurance Choices?

Auto insurance is more than just a legal requirement. It is your saving grace if you cause an accident. Here are some tips for making the most of it.

Choose the Coverage Amount that Is Right for Your Financial Situation

Every state has a required minimum coverage level. While the minimum level keeps you in legal compliance, it may leave you on the hook if you are at fault in an accident where damages exceed your limits. 

Many states have coverage limits which can easily be exceeded, such as a $5,000 property damage limit and a $20,000 per person bodily injury limit. It’s not hard to imagine one somewhat serious auto accident exceeding these amounts.

In that situation, you can be found personally liable for all damages above what your insurance pays. 

For example, if your insurance paid $5,000 in property damage to another driver and their car was worth $20,000, you could receive a judgement against you for $15,000.

One of the main points of auto insurance is to prevent you from having to pay ruinous sums out of pocket. 

If you have assets, such as a house or cash savings, always protect them by carrying enough insurance to cover the full cost of an accident.

Carry the Coverages You Need

Though you never want to be caught short, it is also important to avoid over insuring property. For example, if you have a paid off vehicle, the law only requires you to have liability insurance. 

Collision and comprehensive insurance are optional. Collision insurance covers your car in and accident and comprehensive covers your car if it is stolen.

It is important to consider how much you would receive in reimbursement after your deductible if your car was totaled or stolen. 

If you would only get $800, it may not be worth the premium costs to carry collision and comprehensive coverage, though if you would get $10,000, it certainly would be worth covering.

Protect Yourself from the Uninsured

For very little additional cost, you can opt for uninsured and underinsured motorist protection. 

This coverage means that if you are hit by someone without insurance and they are at fault, your insurance company steps in to cover your losses. They also pay you for any shortfall if the other driver’s insurance policy limits are inadequate.

Though the other driver is legally responsible, chances are good that if they have no insurance, they have no ability to pay.

Calculate What You Need

LA Insurance of Denver, Colorado recommends calculating your insurance needs based on your existing assets, the value of your vehicle, and your willingness to risk paying out-of-pocket expenses. Each individual has different insurance needs and budgets, so a good financial workup is needed before selecting coverage.

With the right coverages in place, you can drive the roads of Colorado with piece of mind.