As a small business owner, managing your finances is one of the most important aspects of running a successful company. 

Unfortunately, it can also be one of the most difficult tasks to master. 

Many small business owners make costly mistakes when handling their finances that can ultimately lead to bankruptcy and financial ruin. 

To help you avoid these pitfalls, here are some common financial mistakes made by small businesses and how to avoid them. 

By avoiding these issues, you’ll give yourself greater peace of mind and ensure your business remains financially healthy for years to come.

Spending Too Much

One of the biggest financial pitfalls small businesses make is spending beyond their means. 

When running a business, it’s important to spend money wisely and only on necessary investments. 

Before making any large purchases or taking out loans, consider whether they are absolutely necessary for your business. 

You should also be careful not to get too excited about potential new investments and put yourself in a position of debt. 

If you need additional funds, consider more frugal options such as taking out smaller loans or using credit cards for short-term financing. 

By keeping your spending under control, you’ll help avoid the serious financial difficulties that can arise from overspending.

Moving Your Business Without Information

Another common mistake many small businesses make is moving their operations without doing the necessary research. 

Moving to a popular location overseas like Hong Kong, for instance, may seem like an exciting opportunity and can potentially be beneficial for your business, but it’s important to know both the benefits and the drawbacks before actually taking the plunge and moving. 

Research the area, analyze the local market, study tax and other regulations, and speak with relevant professionals before making any commitments. 

Using the latest technology is essential for businesses to stay competitive and efficient. It can help to improve communication and enhance customer experiences. By leveraging up-to-date tools such as Fathom, or the fathom alternatives, if you want to look elsewhere, companies can increase the productivity of business meetings for example.
In addition, you can reduce costs and adapt to changing market demands more quickly. Modern technology fosters innovation and allows businesses to offer better products and services, giving them an edge in the marketplace.

Moving to a new location without the proper preparation can be extremely costly for your business and cause major financial issues down the road. 

For a successful move, it’s essential to stay informed and be mindful of potential risks. 

Poor Accounting Practices

Another common financial mistake made by small businesses is poor accounting practices. 

Keeping accurate and up-to-date records of your business’s finances is essential for staying compliant with tax laws, tracking income and expenses, and creating budgets. 

Poor bookkeeping can lead to serious problems such as missed payments, neglected taxes, inaccurate billing, or even fraud. 

To avoid these pitfalls, small businesses should have a reliable and experienced accountant who can help them keep their accounting practices in order. 

Accountants can provide valuable advice on financial management, taxes, and other business matters to ensure the smooth functioning of your company’s finances. 

By carefully managing your books, you’ll be able to save money and ensure a secure financial future for your business.

Overlooking Insurance Coverage

Another financial mistake many small businesses make is failing to get adequate insurance coverage. 

Insurance is a must for any business, as it can protect you from financial losses in the event of an accident or lawsuit. 

When choosing an insurance policy, consider the type of coverage you need and what your budget allows. 

Make sure the policy covers all risks that could arise in your business, such as theft, property damage, and liability. 

Review the policy regularly to ensure you’re adequately covered and update it if necessary. 

By getting the right insurance coverage for your small business, you can help protect yourself from potential financial losses and maintain a secure financial future. 

Failure To Track Cash Flow And Income

It is essential to track your cash flow and income in order to maintain a healthy financial situation for your small business. 

Not monitoring your finances can lead to serious financial issues such as missed payments, inaccurate records, and inefficient budgeting. 

To avoid these pitfalls, businesses should keep accurate records of their revenue and expenses by using accounting software or hiring an accountant. 

They should also monitor their cash flow regularly to ensure that they are able to pay their bills in a timely manner and make necessary adjustments if needed

It is important to budget and plan for the future by setting realistic goals, making long-term investments, and allocating funds as needed. 

Final Word

It’s easy for small businesses to make costly financial mistakes, but with the right knowledge and preparation it can be prevented. 

By taking careful steps such as spending wisely, researching new locations thoroughly before moving operations there, keeping accurate records of finances through a reliable accountant, and having adequate insurance coverage in place; you can give yourself greater peace of mind that your business remains financially healthy for years to come. 

With these tips in mind, you’ll be well on your way to achieving success!

Embarking on the journey of financial independence is a milestone that often brings a mix of excitement and apprehension for individuals in their twenties and thirties. As they navigate the complexities of personal finance, they need to develop healthy habits, make informed decisions, and employ strategic planning to achieve financial stability and success.

In today’s rapidly evolving economic landscape, it has become increasingly important for young earners to be equipped with the right knowledge and tools to manage their finances effectively. This article presents ten essential financial tips for young adults, offering guidance on various aspects of personal finance, from budgeting and debt management to investing and insurance.

By understanding and implementing these tips, youngsters can lay a strong foundation for a prosperous future, ultimately securing their financial well-being and paving the way for a life of financial freedom and peace of mind.

Creating and Maintaining a Budget

A budget helps track income, expenses, and savings, allowing individuals to allocate resources effectively and achieve their financial goals.

To create a budget, young adults should first determine their total monthly income from all sources and then categorize their expenses, such as housing, utilities, groceries, and entertainment. Their expenses should be within the income bracket, leaving some money for savings or other investments. Monitoring expenses and adjusting the budget as needed can help maintain financial discipline and prevent overspending.

Understanding Taxes

One of the first steps toward financial independence is understanding taxes and learning how to navigate the tax system. Familiarizing oneself with tax brackets, deductions, and credits can help one make informed decisions and optimize tax filings.

In some cases, individuals may face tax debts that they cannot repay. In such situations, exploring IRS debt forgiveness options can provide relief and enable a fresh start. Various programs exist to help taxpayers settle their debts, such as Offers in Compromise, Installment Agreements, and Currently Not Collectible status.

Building an Emergency Fund

An emergency fund is a financial safety net that can help cover unexpected expenses, such as medical bills, car repairs, or job loss. By setting aside money in an easily accessible account, these early-career professionals can avoid debt or dipping into their long-term savings to cover unforeseen costs.

A recommended starting point is saving three to six months of living expenses in an emergency fund. This fund should be separate from other savings accounts and should only be used for genuine emergencies.

Prioritizing Debt Repayment

Prioritizing debt repayment can help individuals save money on interest, improve their credit scores, and achieve financial freedom sooner.

To repay debts effectively, individuals can employ strategies such as the debt avalanche method, which focuses on paying off debts with the highest interest rates first, or the debt snowball method, which targets smaller debts first to build momentum. Whichever approach they choose, consistency and commitment are pivotal to successful debt repayment.

Building and Protecting Credit

A good credit score is essential, as it affects various aspects of life, including loan eligibility, interest rates, and rental agreements. Building and maintaining good credit can be achieved by paying bills on time, keeping credit card balances low, and avoiding excessive debt.

It is also crucial to monitor credit reports regularly and dispute any inaccuracies. By being vigilant and proactive, you can safeguard their credit scores and enjoy the benefits of a strong financial reputation.

Saving for Retirement Early

It is never too early to start saving for retirement. It is better to save earlier than later because individuals can take advantage of compound interest and build substantial retirement savings over time.

If you are an early-stage earner, consider opening an Individual Retirement Account (IRA) or participating in your employer’s 401(k) plan. Contributing consistently and taking advantage of employer matching programs can accelerate retirement savings growth.

Investing in a Diversified Portfolio

Investing can be a powerful tool for young professionals to grow wealth and achieve long-term financial goals. By investing in a diversified portfolio, individuals can spread their risk across various assets, such as stocks, bonds, and real estate.

Starting with low-cost index funds and exchange-traded funds (ETFs) can provide a solid foundation for a well-rounded investment portfolio. As young adults gain more experience and confidence, they can explore other investment options and tailor their portfolios to align with their risk tolerance and financial objectives.

Automating Savings and Investments

Incorporating automation in personal finance can be a game-changer for those looking to build wealth and achieve financial stability. Individuals can ensure that a portion of their income is consistently allocated towards their financial goals without manual intervention by automating savings and investments.

Setting up automatic transfers from checking accounts to savings or investment accounts can help save for emergencies, retirement, or other long-term goals. Additionally, enrolling in employer-sponsored retirement plans with automatic contributions can further streamline the process and encourage consistent saving.

Automating finances eliminates the need for constant monitoring and decision-making, helps reinforce healthy financial habits, and reduces the temptation to spend on non-essential items. 

Living Below Your Means

Adopting a frugal lifestyle and living below one’s means can significantly impact financial success. By spending less than they earn, millennials can avoid debt, save more, and achieve financial goals more rapidly.

Some practical strategies for living below one’s means include creating a realistic budget, distinguishing between needs and wants, and eliminating unnecessary expenses. By making conscious choices and prioritizing long-term financial well-being, you can set yourself up for a lifetime of financial stability.

Continuously Educating Yourself About Personal Finance

Financial literacy is a lifelong pursuit. Young adults can stay informed about the latest trends, strategies, and tools available to manage their finances effectively if they continuously educate themselves about personal finance.

Resources such as books, blogs, podcasts, and online courses can provide valuable insights and guidance on various aspects of personal finance. Additionally, seeking advice from financial professionals or joining financial communities can enhance one’s financial knowledge and decision-making abilities.

Protecting Yourself with Insurance

Insurance plays a critical role in protecting one’s financial well-being. Adequate insurance coverage can safeguard individuals against financial losses from unforeseen events like accidents, illnesses, or property damage.

It is essential to assess one’s individual needs and circumstances to determine the appropriate types and levels of insurance coverage. Common insurance policies include health insurance, auto insurance, renters or homeowners insurance, and life insurance.

Conclusion

Achieving financial stability and success as a young adult requires strategic planning, discipline, and continuous learning. By implementing these financial tips, young adults can lay the groundwork for a secure financial future and enjoy the benefits of financial independence.

For birthdays, Mother’s Day, Father’s Day, or the holidays, do people really need more stuff for their gifts?

In the 21st century, there’s been a huge change of perspective on stuff and experiences.

Whereas in the 20th century, having a nice TV, a cool stereo system, and a bunch of “toys” displayed status, many younger people are approaching life in a simpler and more fulfilling way.

For many people, stuff is out, and travel and experiences are in.

Where you’ve been, who you know, and what you do with your time signifies social status more than the cool car or big screen TV.

Maybe it’s the world we live in where gratification can be instant with seemingly instant everything and anything, and people are realizing this might not be best.

Last holiday season, I was having some trouble with coming up with gifts for my family.

Suddenly, a great idea popped into my head: what if I gave out experience coupons for different events later on in the year?

My grandparents don’t need any more stuff in their life, and can buy whatever they want. What they can’t do is conjure up a 26 year old and put him to work in the backyard for free!

I put my idea to work, and it was a great success!

In this post, you’ll learn about intentional gift giving, and spark some new thoughts for minimalist gift ideas for your loved ones for a birthday, Mother’s Day, Father’s Day, or the holidays.

Experience Gifts for Family Members and Loved Ones

Last year, I was brainstorming gifts for my family and came up with my experience coupon idea.

I thought to myself, “What do my family members really want and need that isn’t material? What could I do, or what could I create for them that would be beneficial for their lives?”

For my grandparents, this was pretty easy to come up with.

As I mentioned above, they saved their money, live a modest lifestyle, have little to no expenses, and are trying to give away things as the years go on.

What they struggle with instead is achy joints, stiff backs, and a need to take more breaks when doing physical labor.

I love working outside, and I also love working with my hands and learning more about how the real world works.

A day of lawn care and house work? That sounded like a great gift – and it was!

This was one of my most memorable gifts that I think I’ve ever given.

Later that year, I fulfilled my gift and traveled for a 2 night stay stay to my grandparents house.

What was supposed to be a full day of work turned into 4 hours of yard work and mid-afternoon beers with grandpa 🙂

We both had a good time with this gift!

Money wise, this didn’t cost me much at all.

I spent about $25 on gas for my car driving to their house, and since I stayed in my grandparent’s basement, my food and lodging was taken care of for the weekend.

Best yet, it was great bonding time and I got to learn more about edging and gardening. For not a lot of money (and no additional clutter), this gift was such a treat for both my grandparents and myself.

Minimalist Experience Gift Ideas for Family Members

Above, I talked about one example of a frugal gift idea you could do for a family member.

For my other family members, I had fun with my experience coupons and came up with a number of other good minimalist gift ideas.

My dad and I love playing golf together during the summer time, and for him, it was an easy choice: buy a round of golf at any golf course.

He ended up taking advantage of this coupon in August. We went to a local course and the total cost was $49 a person.

For an afternoon of fun and again, some solid quality time with a loved one, this experience coupon worked out in a great way 🙂

For my sisters, over the last few years, I’ve given them experience coupons to

• go rock climbing
• go to a trampoline park
• eat lunch or dinner somewhere fancy
• mini golfing
• going for ice cream

There are so many difference experiences and activities which you could do. Figuring out what would be fun and new for your family just will take a little brainstorming and action taking!

Give the Gift of Experience to Your Loved Ones

When giving a gift and making someone else feel special, there shouldn’t be the outcome of additional clutter and waste.

By giving the gift of experience, you can create memories which will last a life time.

I hope that this post challenges your thoughts on the norm of consumerism and brings you to think about alternative gifts for your loved ones this year.

I’m always up for thinking differently, living intentionally, challenging my own thoughts and the thoughts of others, and growing over time to create a great life for myself and those around me.

Maybe for your loved ones it’s a trip to their favorite restaurant, a live show or game, or taking a vacation. There are so many ideas out there for activities to do with your friends and family.

Readers: what do you think about this idea? Would you rather get physical gifts, or do something special with your loved ones? Will you give the gift of experiences this year to your family members and loved ones?

Dividend investing is an effective way to build wealth and diversify your portfolio over time. It involves buying stocks or funds that pay regular dividends, which are payments made by companies to shareholders. 

This can be a great source of passive income and can help you reach your financial goals faster than other methods of investing. 

In this post, we’ll discuss the basics of dividend investing and how it can benefit your portfolio. We’ll also provide some tips on how to get started with dividend investing so that you can start growing your wealth today!

What Is Dividend Investing?

Dividend investing is a strategy of investing in stocks or funds that pay out regular dividends, typically on a quarterly basis. 

Dividends are payments made by a company to its shareholders, usually as a percentage of the company’s profits. 

By buying dividend-paying stocks, investors can receive a steady stream of income without having to sell their shares. 

Dividend investing can be an effective way to diversify and grow your portfolio over time, especially in the long-term.

When a company makes a profit, it has two options: to reinvest the money back into the business or to pay out a portion of its profits as dividends to shareholders. 

By utilizing dividend stocks, you can benefit from the company’s success without having to wait for it to reinvest its profits. 

This is a great way to generate passive income, as well as earning capital gains from any increase in stock price.

Benefits Of Dividend Investing

Dividend investing offers several benefits for investors. For one, it can provide a steady stream of income with relatively low risk. 

Dividend payments are usually consistent, regardless of the stock market’s performance, so you’ll be able to count on your dividend income each quarter. 

Another benefit is that dividend stocks often offer higher yields than non-dividend paying stocks. As an investor, this can help you earn a higher return on your investments.

Dividend investing is also an effective way to diversify and grow your portfolio over time. 

By having a mix of dividend-paying stocks in your portfolio, you’ll be able to protect yourself from market volatility as well as benefit from any potential increases in the stock prices. 

Dividend investing can be a great way to generate passive income and reach your financial goals faster than other methods of investing. 

Getting Started With Dividend Investing

Getting started with dividend investing is relatively easy and straightforward. 

The first step is to determine which stocks or funds you’d like to invest in. 

Generally, it’s best to focus on companies with a track record of consistent dividend payments, such as those with strong business fundamentals and a history of increasing their dividends each year. 

Once you’ve identified the stocks or funds you want to invest in, you are sure to find relevant lists of high dividend stocks which can be key for your next investment step. 

Next, decide how much money you want to invest in dividend stocks or funds. 

It’s best to allocate at least 10-20% of your total portfolio towards dividend investments. This will help ensure that your portfolio is diversified and that you are able to benefit from any potential increases in stock prices.

Open an account with a broker or an online brokerage platform and start investing. 

If you’re just starting out, it may be best to invest small amounts each month so that you can learn the ropes and gain experience as a dividend investor. 

As your knowledge of dividend investing grows, you can gradually increase your investments and reap the rewards of this powerful strategy for growing your wealth. 

Tips For Successful Dividend Investing

Dividend investing can be a powerful tool for growing your wealth, but it’s important to take the time to do your research and understand the risks associated with each investment. 

Here are some tips for successful dividend investing: 

Do Your Research 

Before investing in any stock or fund, make sure that you understand its fundamentals and have a clear picture of its potential returns. 

Read the company’s financial statements, look at analyst opinions and ratings, and read up on any news related to the stock or fund you’re considering investing in.

Diversify

Dividend stocks can be a great way to diversify your portfolio, but it’s important to spread your investments out across several different sectors. 

By doing this, you can protect yourself from market volatility and increase your chances for success.

Don’t Chase Yield 

When it comes to dividend investing, it’s important not to chase yield. Instead, focus on companies with a solid track record of consistent and increasing dividends.

Have A Plan 

As with any other investment strategy, it’s important to have a plan for how you will manage your dividend investments over the long term. 

Make sure that you are comfortable with the potential risks and rewards before investing, and understand the implications of each move you make.

Diversifying Your Portfolio

A portfolio is a collection of investments that an investor holds. It typically includes stocks, bonds, mutual funds, commodities and other financial instruments. 

The goal of having a portfolio is to manage the risk by diversifying investments in different asset classes so that an investor can benefit from potential gains while minimizing losses. 

A portfolio can also be used to achieve specific financial goals such as retirement or generating income.

Having a well-diversified portfolio is important in order to reduce risk and increase returns. 

Different asset classes have different levels of risk and potential returns, so it’s essential to consider your goals and appetite for risk when constructing a portfolio. 

An investor should consider their time horizon, liquidity needs and risk tolerance when selecting investments.

Final Word

Dividend investing can be a great way to generate passive income, diversify your portfolio, and grow your wealth over time. 

However, as with any other investment strategy, it’s important to do your research before investing in dividend stocks or funds. 

Make sure that you understand the fundamentals of each stock or fund you invest in and don’t chase yield. 

Lastly, have a plan for how you will manage your investments over the long term so that you are comfortable with the potential risks and rewards associated with each move you make. 

With these tips in mind, dividend investing can help set yourself up for financial success now and well into the future.

Making connections and networking is one of the best actions you can take if you want to further your career.

Make no mistake, networking and meeting strangers can be intimidating. However, you can become an networking expert through learning different networking and communication tips.

By understanding what networking is, how you can apply networking, and questions to ask during an informational interview, you will be on your way to furthering your career.

In this post, you will learn the following:

• What is Networking?
• Why is Networking Important?
• How to Successfully Network and Different Ways You Can Network
• Networking Myths
• What are Informational Interviews and How You Can Use Them to Grow Your Network
• Common Questions to Ask During an Informational Interview

Let’s get into the career networking tips!

What is Networking?

Networking for a job is going out in the world and meeting people in your industry. Networking involves sparking a conversation with someone in your industry, and through this conversation, you can learn more about their work and company.

People love to talk about themselves, and I believe, people genuinely want to help others.

Networking is about building relationships, and should be viewed as a learning opportunity. If you are attending online conferences then you should use the relevant mobile event apps, as they have the ability to allow individuals to communicate with each other in private rooms, ensuring that discussions can flow as freely as they would at a physical event. Whether networking in-person or online, you don’t want to be pushy or try too hard to impress.

Instead, going in with an open mind and looking to make a friend and ally is the goal.

People want to work with their friends, and if the fit makes sense, through networking, you could land an interview with the company you are interested in.

Why is Networking Important?

“Your network is your net worth.”

“Your network is your net worth” is common phrase which is thrown around when you are in the workplace. What does this statement even mean?

Let me answer that question by asking another: has there ever been a time when you needed a favor done for you, and you knew exactly the person who could provide guidance and help?

If so, you likely told them that you needed help and they supplied the solution. They were happy to help because they were your friend and people like to helpful.

Even if this person wasn’t necessarily a friend of yours, more experienced people tend to enjoy the process of mentoring up-and-coming professionals in their field as a way to “pay it forward” for the mentorship they received early in their career.

How many times have you heard this story: “I interned at company XYZ and after the internship, I was hired.”?

During the internship period, those people gained the trust of the people at the company and showed their work ethic. They became an asset that the company could not afford to let go.

In both examples, having a strong network proved to be extremely beneficial because of the opportunities to leverage those connections into greater income.

Who should I be networking with?

Figuring out who you should be networking with is a tough question. The possibilities are endless with networking, and you could look to invite the whole world into your social circle.

However, with limited time and money, maybe it would be good to focus on your goals and network with people who could be valuable in getting to those goals.

Who are all the people who have influenced your life? Maybe some of these influential people include:

• Friends
• Family
• Previous relationships that you have moved on from
• Teachers and bosses
• Peers
• People in the industry you want to work in

Everyone has experiences and perspectives that are different from your own, and odds are they’d be willing to share their knowledge with you.  You don’t know what you don’t know, and asking questions can be the quickest way to identify gaps in your own awareness.

A best practice I’ve found is to figure out what goals you want to hit, skills you want to learn, or achievements you want to replicate, and seek out people who have already done those specific things.

As they say, the shortest distance between two points is always a straight line.

After all, who better to guide you than someone who has found success in doing exactly what you’re looking to do yourself?

3 Reasons Why Networking is Important for Your Career

Networking is one of the most important things you can do to improve the trajectory of your career.

The main three reasons why networking is critical for your career success are the following:

• The power of connection during interviews
• A better understanding of the industry and goals of different companies
• A better understanding of the industry jargon

How Networking Can Lead to a Great Interview

Networking can lead to great interviews if you’ve made connections with the right people.

Imagine yourself in an interview.

Let’s say the interviewer was a coworker with one of the people you have networked with. This commonality you can ask and talk about with the interviewer – it will show you likable, active and could be a good hire.

For example, Linkedin is an immensely powerful tool for young adults.

The ability to see the job history of employers is hugely beneficial! Use it, it is free!

In addition, this readily-available information can be used to form a personal connection with  interviewers or potential mentors at any point in your career.

For me, networking has been incredibly beneficial for my career. What is crazy, is through networking, I have received in-person interviews by just emailing the correct person.

By being proactive and taking initiative, I have skipped over the online applications and jumped to the front of the line by knowing the right people.

I didn’t always get an offer, but if your goal is to get interviews, spreading a wide net can only increase your chances!

Another tactic is to find a point person in your department who has an extensive network of contacts, and constantly ask for emails and phone numbers of professionals to converse with to gain the trust of workers in the industry.

How Networking Can Help You Understand Your Industry

Another reason why networking is so important for your career is how it can help you understand your industry.

Networking increases your understanding of what your industry has to offer.

During my job hunt, I spoke with people from all over my area in all different financial positions.

I talked to analysts, bankers, managers, traders, and looked to get insight into what each of these roles would entail.

By doing so, I could get an understanding of what I would like to do.

Reach out to people in the industry who you think would be interesting to speak with to get an understanding of what goes on day to day at various companies in your prospective field.

How Networking Can Help you Learn Industry Jargon

Similar to the last point, networking can help you understand the industry jargon used in the jobs you are looking to get.

Through networking, you can get a feel for the common lingo in your profession.

Have you ever walked up to other individuals talking about what they do and have no idea what they are saying? How do you begin to understand?

When you talk to experts in a field, they will know when you are spewing nonsense, and when you are knowledgeable in your studies.

By understanding what language the people in the industry use, the more knowledgeable you can make yourself sound when you go for an interview.

Now that you understand these reasons why networking is so important, we can move on to some strategies for networking.

Networking is a numbers game, the more contacts you have, the more your knowledge will grow and the more confident you will be. With increased awareness and confidence, going to the interview will be a piece of cake because of networking.

How many people do you think know and have a relationship with the President of the United States? Do you think that the President could have achieved election without having an extremely strong and extensive network?

This is our networking goal: to grow and obtain meaningful relationships to have a successful future.

How to Successfully Network to Make New Connections

Networking is incredibly important, but make no mistake, can also be very intimidating.

It’s scary to put yourself out there, and it’s possible you won’t always know the best ways to connect with others.

In this post, we’ve talked about why networking is very important, but haven’t touched on how to network.

If you goal is to grow your network and meet like-minded individuals who are on a similar path as you, there are a few different ways you can network:

• Look for Opportunities to Branch Out in Your Existing Network
• Find Groups of People Who Share Your Interest
• Find a Mentor

Let’s go into detail on each of these successful networking strategies.

Look For Opportunities to Branch Out in Your Existing Network

Sometimes the best networking opportunities can exist in your existing network.

When you are just starting out on your networking journey, it can be tough. However, asking around for the contact information of people who could help can be a decent first step to meeting more people.

By asking people close to you if they know of anyone in the industry or area you are interested in, you can have a better chance at connecting for coffee or a phone call, vs. a cold email.

Network With Groups of People Who Share Your Interest

Connecting with people who share your passions and interests has become more accessible and dynamic in the digital age, thanks to the rise of mobile event apps. These apps offer a versatile platform for networking and forging connections with others who have common interests. Here’s how you can leverage mobile event apps to broaden your horizons and establish meaningful connections:

1. Discover Relevant Groups and Meet-Ups: Mobile event apps provide a one-stop solution for discovering and participating in groups, clubs, and meet-ups centered around your areas of interest. Whether you’re passionate about photography, entrepreneurship, or yoga, you can easily find events and communities tailored to your liking.
2. Increase Exposure to Fresh Ideas: When you join these virtual or physical gatherings through mobile event apps, you open the door to a wealth of innovative and diverse ideas. These interactions can broaden your perspective and expose you to new concepts and approaches within your field of interest.
3. Expand Your Social Circle: Building connections within groups or at meet-ups facilitated by mobile event apps will naturally lead to meeting more people. These connections can range from like-minded enthusiasts to seasoned professionals, all sharing a common passion.
4. Instant Common Ground: One of the key advantages of connecting with people who share your interests is the instant commonality it provides. This shared passion serves as an excellent icebreaker and can make conversations flow more naturally, helping you establish meaningful relationships more easily.
5. Efficient Discovery: Mobile event apps simplify the process of finding these groups and meet-ups. Rather than relying solely on Google or Facebook searches, these apps offer a streamlined and user-friendly interface, allowing you to discover events and communities based on your preferences and location.

In conclusion, mobile event apps have revolutionized the way people network with others who share their interests. They offer a convenient and efficient means to find and engage with like-minded individuals, gain exposure to fresh ideas, and ultimately expand your social and professional circles. So, don’t miss out on the opportunity to connect with your community and discover exciting events – download a mobile event app today and start exploring your passions in a vibrant and interconnected world.

Finding A Mentor to Improve Your Network

Another way to improve your network is to find a mentor, or someone who can help you one-on-one get to the next step.

When networking, it’s incredibly important to look to provide value and be a servant in your interactions.

A mentor could be a great help to you and career, but it will take work from your side, as people have limited time.

An example of a mentor could be someone who is doing research, and needs help with data preparation and analysis. You will get exposure to real world experience and develop a great connection, while your mentor will be reaching their goals.

When networking and growing your network, the biggest thing is putting yourself out into the world and looking to provide value to others.

After getting in touch with people who you want to talk to, the next step is performing informational interviews.

How to Use Informational Interviews to Grow Your Network

Are you looking to learn more about a company or a position in your industry? Are you looking to learn more about someone’s job or figure out if a profession is right for you?

Performing an informational interview is a terrific way to gain insight and knowledge into the inner workings of your field.

Informational interviews are just conversations to improve your knowledge on a subject.

Successfully performing an information interview might seem intimidating, but it’s really not hard with the right strategy.

How to Successfully Perform an Informational Interview

Success originates from the relationships you form in the world. Surrounding yourself with amazing people is critical for getting to where you want to go.

Informational interviews are just conversations. If you can ask questions and listen, you can perform an informational interview.

The first step in performing an informational interview is finding out who you want to talk to.

This is accomplished by talking with professors, mentors, and advisers (as we discussed above).  These people have connections within their field and can give meaningful input into helping you find interesting people to have conversations with.

After identifying who it would be beneficial to talk to, you must get the contact information of that person. Email is often the easiest way to establish contact with someone for the first time.

After reaching out to the person, give them some time to respond.

If they don’t respond soon, they might be busy, so that’s a good reason to contact several people at once.  That way, you’re not stuck spinning your wheels waiting for one person to reply.

People want to share their experiences with others and love to talk about themselves, so most of the time they will be happy to meet up.

How to Script an Email for an Informational Interview

Make no mistake, without the right script or template, it can be hard to take the first step in contacting someone you don’t know. If you don’t know how to email potential informational interviewers, below is an example of an email I’ve sent out to professionals I wanted to talk to:

Subject Line: From Erik, (Friend/Adviser/Mentor/Professor’s Name) suggested I reach out to you

Dear Mrs./Mr. (Last Name),

My name is Erik and I am a (insert major/position/friend)  at (insert school/company/website). I am interested in your work in the field of (insert field) and was hoping to gain information on what you do and other opportunities.

(Friend/Adviser/Mentor/Professor’s Name) told me that you had an interesting career path and (he/she) said that it would be beneficial for me to meet you to learn more.

I am flexible and can meet you at your convenience. Attached is an example of some of my work for some more information about myself.

Looking forward to hearing back from you!

(Attach resume, website URL, or LinkedIn Address)

Sincerely, Erik

After sending out this email and waiting for a response, you can then work on setting up your informational interview.

How to Set Up an Informational Interview

After sending your email to your new connection, you should wait for their response before going forward.

The main thing that I want to stress is meeting them at their convenience.

Choose a meeting place that’s as close as possible to where they work, and ask for only as much time as you need to get your questions answered.

Your mentor is taking time out of their busy day and life to meet with you. They don’t need to do this, but many will because they want to give back to the community.

After setting up the informational interview, research the person and figure out the questions that you want to ask. When the day of the interview comes, just go to the scheduled location, and learn about the other person! It is as easy as that!

Finally, don’t forget to offer them something in return for their time, even if all you can offer is a coffee or lunch. There must be some sort of mutual benefit!

Many people love to talk about themselves. Use this to your advantage during an informational interview.

By performing an informational interview, you will gain valuable information and have a better command of what the happenings are on a day to day basis in your prospective industry.

Common Questions to Ask When Performing an Informational Interview

Below is a list of questions that will enable you to perform an informational interview successfully. By asking these questions, you will be able to gain greater insight into your prospective field.

These common informational interview questions are categorized in the following way:

• Informational interview questions about a person’s job
• Informational interview questions to understand skills necessary for success

Let’s get into these informational interview question lists.

Common Informational Interview Questions about a Person’s Job

Below is a list of common informational interview questions you can ask someone about their job.

• Tell me about your path to your current position?
  • What specifically interested you about this field?
  • What is do you enjoy most about working in this field?
• Tell me about your current job.
  • What does a typical workday look like at (insert company)?
  • What do you enjoy most about the company that you work at?
  • How is the workplace structured?
  • What challenges do you face daily as a (insert position of the interviewee)?
  • Are there any other challenges do you face?
  • Are there any negatives of your job?

You should use these job related informational interview questions if you are looking to learn more about a specific job or function in a company.

Common Informational Interview Questions about Necessary Skills for Success

Below is a list of common informational interview questions you can ask someone about the skills they believe are necessary for success.

• What innovations and technologies do you use on the job?
  • What skills do you use at work? (This could be programming languages, software packages, social skills, communication skills, critical writing skills, etc.)
  • Which of these skills would be valuable for me to research and practice to help me in the future?
    • What skills are employers in this field looking for their candidate to bring to the table?
      • (Which skills are considered the most cutting-edge and in-demand?)
  • What am I am not currently doing that could attract employers, or grow my understanding of the way that companies in my field do business?
• How do you stay current in this field, i.e. do you read papers, learn new techniques, build new models, read professional publications?
  • Do you suggest any of these that I could start looking into so I can familiarize myself with the market and various companies?
• Are you aware of any opportunities at your company?
• Are there any other people you would recommend that I get in touch with to speak about their experiences?
• Anything else I should know?

These skills related questions are important when looking to learn more about an industry or company. After getting answers to these questions, you’ll have a better understanding of what you are looking to learn.

The Importance of Questions for Informational Interviewing

Questions are incredibly important for having good conversations, and asking good and thoughtful questions will be very beneficial for a successful informational interview.

By using the questions above in your informational interview, your informational interview will be a piece of cake, and you will be much more knowledgeable as a result.

Your network will grow and the professionals you meet will not dismiss you as someone less knowledgeable.

The people you meet will see a motivated professional, hungry for knowledge. The professionals in your industry are full of insight and willingness to give back. They will be open to answering these questions and giving you information so that you can make an informed decision into what business and field you want to find a career in!

By performing informational interviews, you will be seen as a motivated individual who is hungry for knowledge. Employers love self-starters want to learn about their industry and don’t just to want to show up and receive a paycheck.

How to Follow-up After an Informational Interview

After performing your informational interview, you can be courteous and follow up with a thank you email.

If you need to follow-up on anything, or ask any additional questions, you can do this in the thank you email.

By being respectful and courteous throughout the entire informational interview and networking process, you’ll create a lasting impression and connection for the future.

4 Networking Myths

When you start networking, you’ll hear some common misconceptions and myths. These networking myths are important to be aware of so you don’t fall into any mental traps:

• Introverts can network just as effectively as extroverts
  • While many people think extroverts are experts at networking, introverts can be just as good.
  • By asking thoughtful questions and focusing on one-on-one interactions, introverts can build a strong network.
• Quality is better than quantity when networking
  • Getting a meeting with the CEO of a company might sound amazing for your career, but the odds of making a meaningful connection probably will be low.
  • Likewise, meeting hundreds of people and only talking for a short time will not be great for growing your network.
  • Instead, look to make quality and strong connections. Quality is more important than quantity in most areas of life.
• Networking is not all about politics, and can result in meaningful relationships
  • If you think networking is for people who are obsessed with power, think again. Anyone can find value from networking, and if you think it’s all about you, then think again.
  • Successful networking comes from being a SERVANT and providing VALUE to the person you are looking to meet and learn from.
• Diving into the details and being authentic is the key to networking
  • Small talk rarely leads to anything of substance in any conversation. Go deep with your questions and discussions!

By avoiding these networking myths and understanding how to successfully network, you’ll be on your way to improving as a person and growing your network.

Grow Your Network with Successful Networking and Informational Interviews

In this post, we discussed everything you need to know about networking and informational interviews. We touched on what is networking, networking myths, how to perform an informational interview and common informational interview questions.

With this information, you should have everything you need to know about networking.

By applying these networking techniques and strategies, you’ll be on your way to growing your network, becoming more valuable and also hopefully making more money.

Hopefully this post has been beneficial for you during your networking.

Readers: do you have any tips on networking I missed? What questions do you have about networking? Do you have some informational interview success stories to tell? I’d love to hear about these successful interviews!

I’m incredibly bullish when it comes to digital real estate.

While I love physical real estate, I ended up being very successful the last 3 years house hacking, and I fantasize about the idea of someday owning a commercial building, there is something about creating and owning online assets which makes me super excited.

It’s never been easier to learn new technologies, create content, and publish your ideas and build a brand.

In this post, I will be sharing with you why I believe digital real estate is an asset class worth looking at for investment purposes, examples of how people are making money online, and what my digital real estate plans are as a part of my plan to build wealth. In addition, we will talk about how incorporating skip tracing in real estate we can unlock further potential in identifying undervalued digital properties.

What is Digital Real Estate?

First, what is digital real estate?

Digital real estate is digital property – a domain and anything built on that domain. It is similar to real estate, where real estate is land and anything built on top of that land.

I love real estate for a number of reasons. Real estate is:

• Accessible – Anyone can buy it
• Appreciable – Can increase in value over time
• Leverageable – You can buy on margin and borrow against equity
• Rentable – Cash flow baby!
• Improvable – Through sweat equity or contracting out
• Deductible/Depreciable/Deferrable – Amazing tax benefits

Digital real estate and online assets share many of these same great properties as physical real estate.

What bothers me about traditional real estate though is the cost of entry. While there are many ways to get into real estate with little to no cash (I bought my house for only about $5,000 down), right now, the competition is fierce and the price of real estate continues to rise. For a beginner looking to invest in real estate today, the cost of entry is in the tens of thousands of dollars.

This is where digital real estate shines: I can buy a domain for $12 and host it for less than $5 a month!

4 Reasons to Pursue the Creation of Income Streams Online

There are a number of reasons to be bullish on digital real estate. Below I’ve listed 4 reasons why I believe you should consider getting online and creating, instead of consuming:

1. You build a brand for yourself, on your terms
   • There’s something worth clarifying: social media accounts and websites are great, but at the end of the day, you are subject to the terms and conditions of those networks. Your Facebook statuses and pictures? They might not be yours anymore.
   • With your own website, you control the terms and conditions. Your pictures and content is yours.
2. You own an appreciating asset
   • Over time, when you add content to your site or web application, value is created.
   • Many websites and applications have 5 and 6-figure valuations. Even something as simple as a picture and video messaging application can be worth billions (I’m talking about Snapchat.)
3. Low Overhead and Start-up Costs
   • Many people don’t have thousands of dollars to put into a business or education. Wouldn’t it be great to get started in business for a few hundred bucks?
   • As I mentioned earlier, I can buy a domain for $12 and get server space for less than $5 a month. For a whole year, you could theoretically spend less than $100 and build a brand.
4. Access to Millions of Users
   • With traditional real estate, or even a traditional day job, you restrict your reach to those only in your city or county.
   • With digital real estate, you have the opportunity to interact with people all over the world. Thousands of people are coming online each and every day. There are still 3 billion people who aren’t on the internet, and this number isn’t getting any bigger with constant advances in technology.

The reasons listed above are just the tip of the iceberg.

What are some ways of making this whole online cash flow thing work? How are people actually making money online?

Examples of How to Make Money Online

Personally, I’m still trying to figure this out, but generally speaking there are 4 ways people have generated income online. This list is certainly not comprehensive, but gives you a decent idea of what’s possible out there:

• Ads
  • Ads are straightforward: you display ads on your website and earn money through impressions (how many times the ad loads) or on clicks (whenever a viewer clicks on the ad).
  • For my website, I use Google AdSense for ads. One downside to using Google AdSense is Google determines which ads it will display for you.
  • Luckily, there are other ad networks you can apply to, and if your site becomes big enough, you will have the opportunity for direct ads (where you work with specific companies to serve targeted ads).
• Affiliate Marketing
  • Affiliate marketing is a way many bloggers are making money. There are numerous affiliate sites (Flex Offers – Affiliate Programs for example) which have partnered with many companies. Also, there are programs, such as Amazon Affiliates and ShareASale, which allow you to be more specific in the product you are linking to.
  • With affiliate marketing, you are looking to have your viewers and users purchase through your links and recommendations. After your users purchase, you get a kickback of a certain fixed fee or percentage of the sale.
• Your own product (eBook, Merchandise, Course, etc) or service (Consulting, Coaching, etc)
  • Do you have any interest in writing an eBook, selling merchandise, or creating an e-course for your viewers? What about providing a service and charging for your time? These are all great ways to make money online.
• A pay wall or subscription service
  • The concept of “If you pay me $20 a month, I will give you exclusive content!”
  • To successfully do this, you need to have great free content and great premium content to justify the subscription fee.

At this point, I’m sure you are wondering, all of this theory is great, but can you provide me some examples?

Who are Some Examples of Successful Bloggers and Digital Marketers in 2018?

There are a number of bloggers who come to mind who are successfully making money online in the personal finance niche, I’ll feature 4 and you can check them out for yourself.

• Millennial Boss
  • J is a Pinterest Expert and makes around $2,500 a month on the side of her day job each month on her blog. Her bread and butter is creating product pages which are optimized for conversions, and then getting targeted traffic from Google and Pinterest to those pages.
• Millennial Money
  • Grant made over $400,000 in 2017 on his blog, Millennial Money. He did it a number of ways: direct ads, consulting, courses, and affiliate marketing – very inspiring!
• ESI Money
  • A veteran marketer and blogger, ESI has owned many digital properties over the years, and now is primarily focused on growing ESI Money and Rockstar Finance.
• Millennial Money Man
  • Bobby is an amazing social media marketer – and now has his own course for you to learn how to do what he does best. In January 2018, he made over $150,000 in revenue after launching his course on Facebook ads. That’s crazy!

There are so many amazing bloggers, entrepreneurs, and marketers who I could list here… I’m lucky to have met a number of these people, and am inspired each and every month reading their content.

Why I Believe Digital Real Estate is Worth Owning

Let’s rewind a few years.

I’m not naturally a good writer or artist. Growing up, English and Language Arts were two subjects I didn’t really like and it showed in my grades. I don’t have a big vocabulary, and still don’t really understand or care about how to properly structure a sentence. In addition, as a natural introvert, I had to focus on becoming an effective communicator.

Coming out of college, I was okay in terms of technology. With 2 math degrees, no formal education with computers and how the internet works, and no experience with marketing, there weren’t too many reasons why I should have been interested in starting a blog or online business.

I didn’t care – you could say that these were all reasons I needed to get online and work on these skills.

At the end of 2016, I started The Mastermind Within, and 14 months later, there are 200 people coming to this site daily. By January 2018, I made $86 through this site – $86 where there was nothing before.

In the course of this website’s life, I’ve learned and improved upon a number of the following skills:

• Marketing Skills
  • Email, Paid Ads, Social Media
• Front-end web development skills
  • HTML, CSS, Javascript
• Management and business skills
  • Negotiation, time management, prioritization of tasks, networking
• Writing
  • Go read some of my early posts and some of my more recent posts to see how much writing can be improved upon over time 😉

Humans naturally overestimate what they can do in a day, but underestimate what they can do in a year.

This foray into digital real estate with The Mastermind Within has me incredibly excited for the next few years.

My Plans in the Digital Real Estate Space

I have a ton of ideas for which I want to try and implement to create cash flow online through digital real estate.

For one, I will be continuing to post regularly on The Mastermind Within, with a podcast posted on Tuesdays.

A number of other ideas involve full stack development and the creation of web applications.

I’ve been working through 2 Javascript books in preparation for this venture:

I’m looking to learn everything from the creation of an HTTP server, how to serve static and dynamic content, manipulate and save data from forms online, build sites from scratch, and everything in between.

With this knowledge, I want to build many different applications. A few off the top of my head right now are:

• A newspaper-like site which dynamically serves today’s best content in a given niche
• A lightweight bookkeeping application
  • Getting the debt destruction tool out of Excel, and onto the web, would be one of the features 🙂
• Social media analyzers and bots
  • I have a decent start with my Node.js Twitter bot, and I’ve messed around with the Pinterest and Unsplash API’s, but there is so much more potential out there.

As I learn more and more, the possibilities are endless. I wish I had discovered this 5-10 years ago – web development is what I now believe is my true calling.

The Ultimate Goal for My Digital Real Estate Endeavors

My ultimate goal would be to create a number of applications, communities, and websites where I could be cash flowing a few thousand dollars a month across my portfolio.

Getting 10 applications to each spit out at least $100 a month? Is this doable? I don’t see why not!

Conclusion

With housing prices skyrocketing all around the United States and Canada, traditional real estate investing is becoming harder and harder.

Starting a business online, building a digital brand and product, or creating content has never been easier. For the most part, all it takes is a computer, an internet connection, determination, and a few hundred dollars to get started.

There are so many ways to make money online and build wealth with digital real estate.

I’m bullish on digital real estate – and as more people come online in the world, what we create now will only be more valuable over time.

Readers: do you invest in traditional real estate? What do you think about investing in digital real estate? Are you a creator or a consumer?

Erik

The employment of auditors and accountants is projected to grow 6% from 2019 to 2029, which is more than the average for all occupations. Similarly, the employment of financial analysts is projected to grow by 5% from 2019 to 2029. These growth rates indicate the increasing demand for finance and accounting professionals in today’s business landscape. 

Finance and accounting are two critical fields that are often used interchangeably, but they have clear differences. Understanding the differences can help individuals and organizations make informed decisions about their financial management. In this blog, we will explore the differences between finance and accounting, and their importance in the business world.

Scope

Accounting is primarily focused on recording, classifying, and summarizing financial transactions and preparing financial statements, to provide accurate and reliable financial information to internal and external stakeholders for decision-making purposes.

On the other hand, finance is concerned with the management of money, assets, and investments, to maximize their value. It involves analyzing financial data, assessing risks and opportunities, and making strategic decisions that will improve a company’s financial performance and ensure its long-term success.

Timeframe

If you look for the keyword difference between finance vs accounting, you will see that their timeframes are different. While accounting is mainly concerned with presenting financial statements that show a company’s financial performance for a given period, finance focuses on the present and the future. Accounting records and summarizes past financial transactions, presenting financial statements that show how a company performed in the past. On the other hand, finance uses data to make decisions that will impact the company’s long-term success. It analyzes current and projected financial information to develop strategies for growth and profitability.

Methods

Accounting relies heavily on generally accepted accounting principles (GAAP) to prepare financial statements and ensure compliance with accounting regulations. For example, the GAAP requires companies to use the accrual method of accounting, which recognizes revenue and expenses when they are earned or incurred, rather than when they are received or paid. This method provides a more accurate picture of a company’s financial performance than the cash method, which records revenue and expenses only when cash changes hands.

In contrast, finance uses various analytical tools and techniques to evaluate investment opportunities, manage risk, and make financial decisions. For example, financial analysts may use discounted cash flow (DCF) analysis to estimate the value of an investment, or use scenario analysis to model the potential impact of different economic and market conditions on a company’s financial performance.

Standards

Accounting and finance standards play a pivotal role in shaping the financial reporting landscape, ensuring transparency and consistency across industries and markets. One such significant standard is ASC 842 lease accounting, which has had a profound impact on how companies account for leases. ASC 842, issued by the Financial Accounting Standards Board (FASB), introduced new guidelines that require lessees to recognize lease assets and liabilities on their balance sheets, fundamentally changing the way leases are reported. This standard aims to provide a more accurate representation of a company’s financial position by bringing off-balance sheet leases onto the balance sheet, enhancing financial statement users’ understanding of a company’s lease-related commitments.

In addition to ASC 842, there are numerous other accounting and finance standards that govern various aspects of financial reporting. International Financial Reporting Standards (IFRS), developed by the International Accounting Standards Board (IASB), are globally recognized and widely used, particularly in countries outside of the United States. These standards ensure consistency in financial reporting for companies operating in diverse regions. Moreover, the Generally Accepted Accounting Principles (GAAP) in the United States encompass a vast array of standards, including the Revenue Recognition Standard (ASC 606) and the Current Expected Credit Loss (CECL) model for estimating credit losses, each addressing specific financial reporting challenges.

These standards collectively provide a framework that fosters comparability and reliability in financial reporting, ultimately aiding investors, creditors, and stakeholders in making informed decisions and assessing the financial health and performance of businesses. Staying current with these standards is imperative for financial professionals to ensure compliance and accurate financial reporting in a constantly evolving business environment.

Career Paths

Accounting offers a wide range of career paths such as:

• Financial accounting focuses on the preparation of financial statements and reporting to external stakeholders, such as investors and regulatory bodies. Its purpose is to provide accurate and relevant financial information to external users to help them make informed decisions about the organization.
• Management accounting, on the other hand, involves using financial data to make strategic decisions within an organization. Its purpose is to help management make informed decisions about the allocation of resources, cost control, and performance evaluation.
• Auditing involves reviewing financial statements to ensure compliance with accounting regulations and internal policies. Its purpose is to provide assurance to stakeholders that the financial statements are accurate and reliable. 

In contrast, finance offers a different set of career paths, including:

• Investment banking involves providing financial advice and services to clients, such as corporations, governments, and financial institutions. It can include advising on mergers and acquisitions, underwriting securities (i.e., facilitating the issuance of stocks or bonds), and managing assets such as private equity or hedge funds. Investment bankers typically work with large sums of money and help clients raise capital, manage risks, and make strategic financial decisions.
• Corporate finance, on the other hand, focuses on managing a company’s own financial resources. It can include creating budgets, forecasting revenue and expenses, managing cash flow, and raising capital through equity or debt offerings. Corporate finance professionals often work within a company’s finance or accounting department and help ensure that the company is financially sound and sustainable.
• Financial analysis involves analyzing financial data to make investment decisions and manage portfolios. Financial analysts use a variety of tools and techniques to evaluate companies or investment opportunities, such as financial modeling, ratio analysis, and trend analysis. They also monitor market conditions and economic trends that may impact investments. 

Skills Sets

Accounting requires strong attention to detail and a deep understanding of its principles and regulations. Accountants must be able to accurately store and classify financial transactions, reconcile accounts, and prepare financial statements. They must also be proficient in accounting software and have excellent organizational and time management skills to meet reporting deadlines.

On the other hand, finance professionals require analytical skills, strategic thinking, and knowledge of financial markets and investment strategies. Finance professionals also need to be skilled in financial modeling and analysis, as well as in communication and presentation skills to convey complex financial information to stakeholders.

Coursework

Accounting coursework typically includes classes in financial accounting, managerial accounting, auditing, taxation, and accounting information systems. These courses are designed to provide students with a strong foundation in accounting principles, financial reporting, and taxation. Accounting students learn how to prepare financial statements, analyze financial data, and comply with regulatory requirements.

On the other hand, finance coursework focuses on financial management, investments, financial markets, and corporate finance. Finance students learn about financial analysis, risk management, valuation, and capital budgeting. They also study financial instruments, such as stocks, bonds, and derivatives, and how they are traded in financial markets.

Salary Expectations

In general, finance professionals tend to earn higher salaries than accounting professionals. This is because they often work with larger amounts of money and are responsible for making important financial decisions that can have a significant impact on a company’s bottom line. Some of the highest-paying jobs in finance include investment bankers, hedge fund managers, and private equity professionals.

On the other hand, accounting professionals tend to earn slightly lower salaries, although there are still plenty of opportunities for high earners in this field. Some of the highest-paying jobs in accounting include certified public accountants (CPAs), auditors, and financial controllers.

Overall, the average salary for finance professionals is around $131,710 per year, while it’s around $77,250 per year for accounting professionals.

Conclusion

Finance and accounting are both crucial aspects of business management, but they differ in their scope and focus. Accounting primarily deals with recording, classifying, and summarizing financial transactions, while finance focuses on managing those financial resources to achieve the organization’s goals. Accounting is concerned with past events, while finance looks to the future and is more forward-thinking. 

Both fields are essential for businesses to operate effectively, and understanding the differences between them can help individuals determine which area of expertise they want to pursue. Ultimately, a successful business requires a strong understanding of both finance and accounting, and collaboration between these two fields is crucial for achieving organizational success.

Credit card debt is the worst kind of debt have. In this post, you’ll learn about 5 ways you can get out of credit card debt.

Credit card debt is the worst debt to be in. Getting out of credit card debt is possible, but will require some discipline. With 20%+ interest rates, credit card debt can have a negative impact on your personal finances if not handled appropriately.

Debt of any kind can be dangerous if misused.  Credit card debt, however, is particularly sinister because of its extremely high interest rates, which can cripple your ability to build wealth.

The average household in the United States has nearly $7,000 in revolving credit card debt.  That might not sound like much, but make no mistake, $7,000 at with a 20% interest rate costs over $1,000 in interest a year!

In this post, you’ll learn 5 credit card debt payoff hacks to help you manage your credit card debt.

5 Credit Card Payoff Tips to Get Out of Debt

Make no mistake, getting out of debt is tough. However, with the right strategy, you can crush your debt using the following strategy and get on the path to financial success.

The 5 steps to getting out of credit card debt and paying off your credit cards are:

1. Track Your Money and Live Within Your Means
2. Stop Using Your Credit Cards
3. Pick a Payment Strategy
4. Pay More Than the Minimum Payment
5. Automate Your Personal Finances

After going through these 5 steps in more detail, you’ll also learn some bonus credit card payoff tips (0% APR Balance Transfer Cards, debt consolidation, etc.)

Credit Card Payoff Tip #1: Live Within Your Means

Living within your means is the bedrock of any debt reduction plan, as well as financial freedom in general.

The reason most people end up with excessive credit card debt is because they adapt to a lifestyle of spending more than they earn.  If you ever want to kill your credit card debt, the first step must be to address the conditions that created it.

The first step is to examine your finances and ensure you have a complete picture of your situation.  Knowing the full details of your income, your expenses, and any debts is critical to make informed financial decisions.

This includes the start and end dates of the billing periods for each account, and when each one is due.

Once you’ve gathered all of your financial information, the second step is to prioritize your spending.

What things are truly important to you?

Once the necessities are taken care of you need to decide where you want your money to go.  In this case we want to devote a chunk of our budget to killing our credit card debt as quickly as possible, while still leaving some wiggle room for lifestyle spending.

How to Cut Your Expenses Fast to Get Out of Credit Card Debt

The quickest way to slash your spending and free up room in your budget to supercharge your debt payoff is by cutting your largest expenses.

Typically, the three biggest expenses people have are their housing, food, and transportation.

Have an expensive mortgage? Try moving to a smaller or less fancy home, or house hack and let your roommates subsidize your housing costs.

Eating out several times a week? Try meal prepping on the weekends so you can have meals ready to go instead of spending that extra money.

By reducing your expenses, you can prevent yourself from needing to take on any additional credit card debt.

Credit Card Payoff Tip #2: Stop Using Your Cards

This should go without saying, but I’ll say it anyway: if you’re trying to kill your credit card debt, STOP USING YOUR CARDS!

If you’ve built up significant credit card debt, you likely have a habit of using them mindlessly.

That statement isn’t meant to be an insult, rather to call out an extremely common issue that many credit card users struggle with.

When people stick to a cash-only strategy they’re confronted with the physical reality of having to hand over their hard-earned money to someone else every time they make a purchase.

Credit card users, however, don’t get this same reinforcement, as the act of swiping a card requires much less thought.

Another reason to stop using your cards is because your debt repayment will take significantly longer if you continue adding to your balance.

Imagine trying to push a boulder uphill; the larger the boulder and the steeper the hill, the more difficult the job of pushing it will be and the longer it will take.

Every time you swipe your credit card while trying to pay down your debt, your boulder gets bigger and the hill gets steeper!

Credit Card Payoff Tip #3: Pick a Debt Payoff Strategy

There are two main strategies to become debt free fast. The two methods for becoming debt free are the debt avalanche method, and debt snowball method.

These methods are pretty straightforward. First, compile a list of your debts and their interest rates. After compiling this list, you will then pay a little extra towards a certain debt as determined by whichever method you pick.

By paying a little extra each month, you will be able to take advantage of some huge interest savings (as we will see a little bit later in this post).

Using the Debt Avalanche Method, you pay off your debts by paying extra toward your debt with the highest interest rate first. .

Once you have paid off the highest interest rate debt, you put the entire paid off debt’s payment plus the same extra amount towards the next highest until all debt is paid off.

For example, let’s say you have two debts: one at 20% interest rate, with a minimum payment of $200, and balance of $2,000, and the other debt with a 10% interest rate, a minimum payment of $150, and balance of $1,000. You decide you can put an extra $50 towards your debt a month.

Using the Debt Avalanche Method, you would put $250 towards the first debt and $150 to the second debt.

Over time, the first debt will be paid off faster than it would if you just paid the minimum payment. If the first debt is paid off before the second, then you put all $250 towards the second debt, for a total of $400 a month, until the second debt is paid off.

The Debt Avalanche Method is the mathematically optimal debt pay down strategy.

The Debt Snowball Method

Using the Debt Snowball Method, you pay off your debts by paying extra toward your smallest balance debt first. Once you have paid off the smallest balance debt, you put that payment towards the next smallest until all debt is paid off.

Many people like the Debt Snowball Method because psychologically, you can generally see your debt accounts disappear faster. If you have a $1,000 loan and a $5,000 loan, it feels good to have the $1,000 loan gone.

Going back to our example with two debts: one at 20% interest rate, with a minimum payment of $200, and balance of $2,000, and the other debt with a 10% interest rate, a minimum payment of $150, and balance of $1,000. Again, you will put an extra $50 towards your debt a month.

Using the Debt Snowball Method, you would put $200 towards the first debt and $200 to the second debt, because the second debt is smaller in balance.

The Debt Snowball Method is not mathematically optimal, but is still better than applying no strategy at all.

The Debt Blizzard Method

If you want, you can combine these two debt payoff strategies and use a relatively new method called the Debt Blizzard.

The Debt Blizzard is a newer strategy which is a hybrid of the snowball and avalanche approaches.

When using the Debt Blizzard method you score a “quick win” by paying off the card with the lowest balance first, then prioritizing any other cards based on their interest rate.

This may seem overly complex, but the debt blizzard method strikes a good balance between the pros and cons of the other two methods.

Credit Card Payoff Tip #4: Pay More Than the Minimum

How do you get out of debt fast?

PAY MORE THAN THE MINIMUM PAYMENTS!

I can’t overstate the importance of this step!

Creditors make money when you carry a balance through the interest you pay.

The minimum payments listed on your credit card statement is usually around 2-3% of your total balance. This minimum payment is typically barely enough to cover the monthly interest on most consumer credit cards.  If you only make the minimum payments, it will take you years longer to kill your credit card debt!

Earning more money is another great way to beef up your credit card payments.  While there is value in cutting unnecessary spending to free up money in your budget, you can only cut so far before it becomes unsustainable.

Your income has no limits!

There are also virtually unlimited ways you can earn more money. You could ask for a raise at your job, pick up a side hustle, or house hack.

Credit Card Payoff Tip #5: Automate Your Finances

Humans are imperfect; sometimes you’ll forget to pay their credit card bills, or pay late, which causes a host of problems on your credit report.

The solution?

Automate your bills so you never suffer a late or missed payment. These result in late payment fees that go up the more delinquent the payment becomes, and often result in absolutely crushing penalty APR increases.

For example, most consumer credit cards come with an average APR of 14-16%; miss as little as one payment and banks like Citi and Chase will slap you with a penalty APR of 29.99% that will haunt your account for months

Credit cards generally have the ability to set up automatic payments directly from your bank account, and many banks who provide online banking services also include some integrated bill payment solution.

Since we already know how much each of our credit card bills are, and when they’re due from step one, setting up recurring payments is as easy as visiting a few websites and linking our banking information.

Once your credit card bills are automated, another helpful step is to automate all of your other bills as well such as your utilities, phone bill, insurance, etc.

By automating your personal finances, you don’t have to worry about when things are due and you know they’re set up to fit within your budget. This frees up mental energy to devote toward other things like staying focused on your debt repayment, or increasing income to further beef up your payments.

Bonus Tips for Paying Off Your Credit Cards

While you will be able to pay off your credit cards using the 5 steps above just fine, there are a few other strategies you can use to destroy your credit card debt.

These bonus credit card payoff tips are not for everyone, and please make sure you do your due diligence before diving in.

Balance Transfer to 0% APR Credit Cards

Many credit card companies offer cards with introductory offers of 0% APR for a certain period of time, often as a promotional tool to entice you to sign up.

Once the promo period ends, the APR will increase to predetermined rate according to the terms of the credit agreement. The limited time offer means that unless you can completely eliminate your balance within the promo period you’ll get smacked with interest charges.

I’d recommend this strategy only if you know you can fully pay off your balance in time.

At 0% interest, the credit card companies are practically giving you money for free, but make no mistake, you’ll have to stay disciplined to make sure you pay these cards down.

Also, there may be a balance transfer fee, but at least you won’t be stuck paying 20%+ if you decide to go this route.

Debt Consolidation to Decrease Your Interest Rate

Another way to reduce your credit card bill payments is to consolidate your debt.

Debt consolidation works by a provider issuing a loan that covers the full balance of your various credit cards rather than you paying your cards individually.

Debt consolidation can be advantageous for a couple of reasons:

• First, it simplifies the process of killing your credit card debt by rolling all of your debts into a single payment.
• Second, it can save you money because debt consolidation loans generally have much lower interest rates than credit cards.

A problem with this strategy is it can significantly increase the amount of time it takes to completely payoff your credit card debt.

While you’re saving on interest and typically paying less per month, the amount you owe is unchanged; smaller payments make a much smaller impact on your total balance.

I’d recommend this strategy only if you’re carrying a large number of different credit cards, have cards with extremely high interest rates, and/or can accept the extended repayment timeline.

Get Out of Debt with These Credit Card Payoff Hacks

Credit card debt is a huge problem for millions of people.

Just like other forms of debt it drags down your financial progress and creates significant stress unless managed properly.

With the tips listed above, hopefully you can get out of debt and get on to living your dream life!

Have you tried any other strategies to destroy your credit card debt?  How well did they or didn’t they work?

Imagine a future free of debt, where financial stability and peace of mind reign supreme. Financial well-being is critical to a person’s overall health and happiness. It affects everything from our ability to buy a home or car to our mental and emotional well-being. In today’s fast-paced world, managing personal finances and repaying loans efficiently is of paramount importance. In fact, according to a recent survey, an alarming 77% of American adults are in some kind of debt. To help you navigate the path towards a debt-free future, we’ve compiled five essential tips to transform your loan repayment strategy in 2023. Let’s dive in! 

Calculating Clarity: Harness the Power of a Loan Calculator

Embarking on a journey toward financial freedom begins with understanding the numbers. Loan calculators, designed for various loan types such as mortgages, personal loans, and student loans, provide invaluable insights into repayment plans. One significant benefit of using a loan calculator is its ability to show the impact of different interest rates, loan terms, and payment frequencies on the total repayment amount. It enables borrowers to make well-informed decisions and select the most suitable loan options. 

Loan calculators allow borrowers to visualize how specific changes in their financial behavior, such as increasing their income or reducing expenses, can significantly impact their loan repayment timeline. By running these “what-if” analyses, borrowers can proactively develop contingency plans and adapt their repayment strategies to unforeseen financial challenges or opportunities. Ultimately, this forward-thinking approach empowers individuals to take charge of their debt repayment journey with confidence and resilience. Hence, by using these tools, borrowers can effortlessly calculate their payment and devise strategies tailored to their financial situations.

Extra Earnings, Extra Payments: Accelerate Your Loan Repayment

One powerful strategy to expedite loan repayment is to boost income through side hustles. The rise of the gig economy offers ample opportunities for individuals to earn extra cash by utilizing their skills and passions. From freelance writing and graphic designing to driving for rideshare services or renting out property on vacation rental platforms, side hustles are more accessible than ever. In fact, a study found that over 58 million Americans engaged in freelance work in 2021, with the number expected to grow.

Harnessing these additional earnings to make extra loan payments can significantly reduce the principal amount and interest accrued. Similarly, allocating windfalls, such as tax refunds, inheritance, or job bonuses, towards loan repayment further accelerates the process. Reducing the loan’s outstanding balance decreases future interest charges, ultimately shortening the loan term.

Another impactful approach is to make bi-weekly payments instead of the standard monthly installments. This method results in 26 half-payments annually, effectively making one extra full payment each year. Not only does this decrease the principal balance more rapidly, but it also leads to substantial interest savings. For example, on a 30-year mortgage of $250,000 at 4% interest, making bi-weekly payments can save over $30,000 in interest and shave nearly five years off the loan term.

Refinancing Right: Discover the Potential Savings

Refinancing can be a game-changer for borrowers seeking more favorable loan terms. Essentially, it involves replacing an existing loan with a new one, often characterized by a lower interest rate, modified loan term, or both. The aim is to reduce monthly payments and overall interest paid, ultimately saving money in the long run.

To determine if refinancing is optimal, consider factors such as the potential interest rate savings, the remaining loan term, and any prepayment penalties or closing costs. Refinancing may be beneficial if the new interest rate is at least 1% lower than the current rate. 

Compare interest rates, fees, and terms from multiple lenders to find the most competitive offer. Calculate the time it will take to recoup the closing costs through interest savings. If the break-even point falls within the intended loan period, refinancing may be a wise choice. Finally, consider the overall advantages, such as potential interest savings, against the costs of refinancing, including closing costs and prepayment penalties. These tips can help you in the refinancing.

Debt Snowball vs. Debt Avalanche: Pick Your Payoff Method

Regarding strategizing loan repayments, two popular methods have emerged as frontrunners: the debt snowball and the debt avalanche. The debt snowball method involves tackling the smallest debts first, gradually working up to larger ones. Conversely, the debt avalanche method focuses on paying off high-interest loans first, which can result in substantial savings in the long run.

Although both methods have merits, the right choice depends on individual preferences and financial situations. Debt snowball enthusiasts argue that the psychological boost from eliminating smaller debts can positively impact financial behavior. On the other hand, the debt avalanche method can lead to considerable savings by minimizing interest payments. 

Ultimately, deciding between the debt snowball and debt avalanche methods hinges on personal priorities. Assessing individual financial circumstances and aligning them with personal values can ensure selecting the most suitable loan repayment strategy.

Smart Budgeting: Create a Loan Repayment-Friendly Budget

Crafting a budget that caters to loan repayment is crucial to attaining financial freedom. A well-designed budget ensures timely payments and helps avoid unnecessary interest accrual. Studies reveal that individuals who maintain a budget are more likely to save money and achieve their financial goals faster.

To create a loan repayment-friendly budget, list all sources of income and expenses. Next, allocate a specific portion of the income towards loan repayment, prioritizing it over non-essential expenses. A popular budgeting method, the 50/30/20 rule, suggests allocating 50% of income to necessities, 30% to wants, and 20% to savings and debt repayment. This guideline can be tailored to prioritize loan repayment by allocating a larger percentage to debt reduction. In the ever-changing financial landscape, it’s vital to regularly review and adjust the budget to accommodate fluctuations in income or expenses. 

Conclusion 

Repaying loans efficiently and achieving financial freedom can be within your reach by following these top tips for 2023. By utilizing a loan calculator, accelerating loan repayments with additional income, considering refinancing, choosing the right payoff method, creating a loan repayment-friendly budget, and tracking progress, anyone can successfully navigate their path toward a debt-free future. Remember, the journey to financial stability begins with a single step. So, take charge of personal finances today and embark on the road to a more secure, fulfilling tomorrow. 

Disclaimer: I’m not a licensed investment professional. All investments come with risk. Please do your own due diligence before investing in any product and investing in index funds.

“V-T-S-A-X, V-T-S-A-X, V-T-S-A-X!”

If investing had rallies, I’d imagine Vanguard nation members would have be chanting about VTSAX, an extremely low fee index fund.

What is index fund investing, and why is it so great? Simply put, index funds allow you to own thousands of positions and capture the general stock market trends at an extremely low cost. I like index funds for these reasons: they are supposedly lower risk because they are highly diversified, and the fees are nearly 0. Comparing this to actively managed funds with fees of 1-2% or more, you get much more bang for your buck!

Investors and traders ask many of the following questions each year: what stock do you think will perform best this year? Is there a sector that will see success in the next 2-3 years? What companies’ have the best outlook?

For the everyday person, many of these questions are not worth asking, or answering. I personally own thousands of companies, and I never think about those questions. With so little time to devote to financial statements and investment research, it’s just not worth looking for the next Amazon or Apple.

How do I own thousands of companies? It’s quite simple! Index funds!

In this post, I will be sharing with you the benefits and risks of index fund investing, why I own thousands of companies through index fund investing, and how you can own thousands of companies too. I’m also going to touch on why index fund investing works, and the problem with passive index fund investing.

What are Index Funds and the Benefits of Index Fund Investing?

What are index funds?

Index funds are essentially a collection of assets which, as a whole, look to replicate the performance of some market or sector.

For example, a stock market index fund would be a collection of many stocks, such that the performance of the index fund would mirror the performance of the general market.

There are many index funds you can buy through different brokerage accounts. To give you a better idea of some examples of index funds, looking at my 401(k) account, I have access to the following index funds:

• General Equity Market Index Fund
• Large Cap Index Fund
• Small Cap Index Fund
• Dividend Index Fund
• Bond Index Fund
• International Equity Index Fund
• And the list goes on and on

There are hundreds of funds out there for many different sectors, asset classes, and industries.

What are the Benefits of Index Fund Investing?

“A very low-cost index is going to beat a majority of the amateur-managed money or professionally-managed money.” – Warren Buffet

Warren Buffett, John Bogle and many of the other great investors believe investors like us should invest in index funds. There are a few benefits to index fund investing vs. investing in individual securities.

One such benefit of index funds is diversification. It’s unfortunate, but it’s a fact that some companies will fail. It’s also a fact that some companies will outperform others. Humans don’t have crystal balls, and to be able to select which ones will fail and which ones will perform well is nearly impossible.

Instead, with index funds, we can own a piece of many companies, and if some fail, it is fine because others are likely doing well and can help make up for that difference – meaning we will also own the winners! On average, we will be able to replicate the general market.

Over time, the stock market typically has trended up, and as a result, index funds allow us to able to capture a piece of this trend.

Another benefit of index fund investing is a combination of lower fees and out-performance when compared to actively managed funds. Vanguard’s equity index funds average a 0.12% expense ratio vs. 0.62% for actively managed funds. In addition, these index funds have outperformed actively managed funds for many years!

Why pay more for less? Index funds are superior when considering fees and performance over time. In addition, if done passively (i.e. set and forget), your taxes and transaction fees are greatly reduced.

Why does Index Fund Investing work?

In the previous section, we talked about the benefits of index fund investing. Those reasons are contributing, but not exactly why index fund investing works.

Index fund investing works because the market is supposedly “efficient”.

The Efficient Market Hypothesis is a fundamental concept in portfolio management theory, and simply states the prices in the market reflect all information out there on a company. It’s a hypothesis, though it makes sense. (I don’t know if I’m completely on board with it, but that’s a discussion for another day.)

Under this theory, how does the market stay efficient?

Theoretically, active investors are constantly looking to determine if the price of assets is in line with expectations or not, and should be buying or selling to “close the gap” between the price and supposed expectation.

Index fund investing works because it follows the stock market trends, and also takes advantage of these active investors who are doing the heavy lifting of price discovery. To try and ensure you’re investing in the right place, you can look at things like an equity index futures newsletter from professional investors, which could give a better idea of how to enter this market and what the trends are going to be like.

How You Can Own Thousands of Companies

I don’t have time to research the entire market for the best companies and stocks, and even if I did, my predictions would most likely be wrong.

I’m guessing you don’t have time to research and look over financial statements. If you are looking to invest passively, take a look at index funds.

With minimal fees, and the ability to own thousands of companies, properties, and bonds, you can capture the general trend of the market and reduce risk through diversification.

This may sound like a boring strategy to wealth, but it’s a time tested winning strategy for financial success.

Index funds are not exclusive to only high net worth individuals. Beginners and experienced investors alike can invest in index funds with little involvement and effort up front.

To own thousands of companies and get invested in the general market all that is required is to open up a brokerage account, do your due diligence and figure out which index fund is appropriate for your risk tolerance and financial situation, and boom! You’re invested!

Many people like Vanguard index funds. I know many personal finance bloggers who swear by these funds and will always invest in them!

Set and forget! Stay consistent with your investing, continue to learn more about finance and saving, and you will be on your way to financial success. Over time, you might be able to become a stock market millionaire!

However, with all investing, there is risk. For index funds, there are a few risks you need to consider.

What if Everyone Decided to Invest in Index Funds?

Something I like to do is think about different scenarios, take things to the extreme (if necessary), and think about the outcomes (otherwise known as a thought experiment).

Here’s something to ponder: what if everyone decided to invest passively in index funds – what would the outcome look like?

One of the common recommendations for investing in index funds is to dollar cost average (aka buy a little each month), and not touch the nest egg for 20-30 years.

At some point though, if everyone decided to invest in index funds, dollar cost average, and never touch their nest egg, wouldn’t the price of assets just keep rising (without care for the underlying fundamentals?)?

Would this be (dare I say) the beginnings of a Ponzi-like scenario and scheme?

While yes, at some point, people probably will start selling down their assets, the market can’t always go up. Otherwise, it’s not a market.

Index fund investing works because you have active money managers who supposedly “keep the market efficient”, but if those players went away, the market would certainly not be efficient.

The Problem and Risks of Index Fund Investing

Here’s the problem with passive index fund investing: with more people doing it, the less “efficient” the market will be, and this exposes you to a concept known as “the herd mentality”.

What do I mean? If everyone is always buying, regardless of price or the underlying value, then your expected returns will be less than prescribed.

Buying and buying and buying will just lead to boom, bust, and ruin at some point. It’s basic physics.

Considering all assets, having a safety net, and allowing for the possibility of failure of one asset will allow real financial independence and resilience.

Thinking Critically when Investing is Very important

There’s a few things here I want to touch on before concluding.

First, investing in stocks has been a great way to build wealth in the past, and something I do in my investment portfolio.

With this section of the post, I’m not saying investing in stocks is a bad thing. Rather, I’m trying to inspire unique and original thoughts for you to think about in personal finance life.

There are benefits and risks to everything in life, and it’s important to weigh them before making a decision.

Second, investing passively in low cost index funds has been, and probably will be, a solid investment going forward. With that said, if it becomes too prevalent in the future, there could be very wild swings in the market (and also the possibility for manipulation and a lack of liquidity overall).

There’s no such thing as a free lunch (even though many people hype index fund investing like it’s a gift from a higher power).

Third, speaking a little more in general, it is imperative to think critically about your situation. Everyone is different – everyone has different life experiences, perspectives, upbringings, and goals. Sadly, following the herd blindly will not result in success.

Instead, following what you believe, and have researched, works (and maybe that is following the herd) will lead to success.

Is Index Fund Investing the Best Way to Invest?

Index fund investing isn’t going away, and it’s a great way to invest and diversify your investments.

By investing in index funds, you can own thousands of companies, and get exposed to the broader market. There are many benefits for investing in index funds, as well as risks.

With the risks of index funds described above, am I going to stop using index funds in my investment portfolio? No.

Am I considering other assets and thinking more about my asset allocation, strategy, and the market going forward? Yes.

Am I trying to think critically in everything I do? Yes.

At the end of the day though, thinking critically is important in everything you do.

The markets don’t care if you succeed or not. It’s okay to re-balance your portfolio, it’s okay to assess the risk of your portfolio and see if there is anything you can do to navigate potential storms, and it’s okay to challenge yourself and your thoughts.

Index fund investing could be a great choice for your portfolio – you have to do you own research and decide what is best for you.

Readers: do you own a piece of thousands of companies? Do you enjoy researching individual assets? What are your thoughts on index funds?

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