Beating Broke

Personal Finance from the Broke Perspective

4 Tips for Anyone Looking to Create a Startup Business

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Starting your own business is an amazing way to make money and ensure your financial security as the years go by. If you are to succeed at doing this, however, you have to do it right from the beginning. This may set you down the right path and make it possible for you to scale up and enjoy the benefits of a well-planned business. Have a look at the four tips below to get an idea of how to go about setting up your startup the right way.

1. Get a Professional Website

With all businesses, you need a solid online presence, there’s no way you’re going to start a business of your own without a website. A basic website isn’t enough in this case. That’s because competition in the digital space has gotten more serious over time. With 38% of users reporting that they’ll stop engaging with a website if they find it to be unattractive, it’s clear to see the importance of ensuring that you have a great website. Find a professional and have them open a beautiful website for your business that’s also easy to navigate and you’ll be on the right path.

2. Secure Your Payment Options

Next, you need to make sure that everything to do with money is safe and secure, both your and your customer’s money. This means that you have to invest in a reliable payment system. With the various payment options available at the moment, you may also want to accept as many payment types as possible so you can offer your products or services to a wider market. One of these payment options is Bitcoin, which, along with more than 6,000 other cryptocurrencies, is powered by an open-source code called a blockchain. Ensure that the payment gateways you use are safe so that you don’t have to deal with any amount of risk.

3. Identify the Right Market

Remember to identify the market that you want to cater to from early on in your business. Doing this is going to help you figure out many other details of your business, including how to go about marketing to them. With approximately 167,290 people in Midtown, NYC in 2019, for instance, it’s obvious that any given population will have different preferences. That said, you may have to find marketing techniques that will appeal to as many people as possible and give you a chance to spread your net wide. After you start growing, you can think of specializing your offerings and catering to a niche market. This is the best way for you to grow your business and make more money since you’ll find out what works best and can stick to it.

4. Hire the Best Team

Finally, remember that it’s important to have people on your team who are as passionate and dedicated to your cause as you are. When you put together such a team, your startup will be a formidable force. This is because every facet of your business will be run efficiently. Clearly, it’s beneficial to spend time searching for the best fit for your startup as it will either make or break your efforts. Conduct candid interviews and offer potential hires the best that you can and you’re likely to be met with enthusiasm for the roles that you advertise right from the start.

These four tips should help anyone who’s looking forward to starting a business do it well. If you start your business on the right foundation, it may be easier to build it over time. Do thorough research and plan well so that nothing catches you by surprise. When you do this, you’re likely to enjoy the outcome, as will the team working with you!

Avoiding Major Costs

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Taking care of your finances is essential if you want to avoid major costs. Although it’s always a good idea to prepare for unexpected expenses, it’s also important to make sure that your spending habits are appropriate and within your budget. Even small costs can add up over time and can quickly become large ones. Here are some tips on how to avoid major costs.

Avoid DUI Incidents

In Alameda County, California alone, there were about 4,820 DUI arrests in 2017. Unfortunately, one DUI incident can cause extensive financial damage. A first-time offense will require you to pay a fine, which does not include the additional costs for attorney fees and court costs. Further offenses may require jail time which can have an even greater cost. To avoid major costs due to DUI incidents, always make sure you are aware of your alcohol limit and plan a safe ride home.

Be Aware of Your Credit Card Limit

Credit card companies offer convenience, but they can also be a major cost if you are not aware of your spending limit. Before making any purchase with your credit card, make sure that it does not exceed your approved credit limit. Going over the limit can lead to extra charges and an increase in interest rates. Additionally, it can hurt your credit score, which can make it difficult for you to secure loans or even rent an apartment.

Having a Savings Account

While you might not think you can afford it, having a savings account is essential to avoiding major costs. Even if you only deposit a small amount of money each month, it will add up over time. Having a savings account will help ensure that you have enough money to cover emergency expenses such as medical bills, car repair costs, and other unexpected costs. Additionally, having a savings account will give you peace of mind knowing that you have a financial cushion if something unexpected happens.

Check Insurance Coverage

Insurance can protect you from unexpected events. However, if you have inadequate coverage, it can lead to major costs for repair or replacement of items. Always review your insurance coverage and make sure that it meets your needs. It may be a good idea to add additional protection for items such as jewelry or electronics. Checking your insurance coverage is one of the easiest ways to prevent your finances from taking a major hit. For instance, if you have a car, having comprehensive auto insurance coverage can help to protect you should an accident occur.

Keep Up With Home Maintenance

Keeping up with home maintenance is one of the easiest, yet most ignored ways to avoid major costs. A small leak or broken window may seem minor and easy to ignore, but they can lead to much bigger problems if left unattended. To prevent any major costs due to home maintenance, make sure you inspect your home regularly and repair any potential damages right away. In addition, according to Reader’s Digest, flushable wipes commonly cause clogged toilets and pipes. Ensure you’re following all recommended flushing instructions and caring for your plumbing and maintenance.

Budget For Big Projects

If you’re planning on bigger renovations, it’s essential to budget ahead of time to keep your finances in order. For instance, around 35% of homeowners splurge on their kitchen countertops. However, unforeseen costs can easily add up and quickly exceed your budget. Before starting any project, make sure you plan out the entire process, including materials and labor costs, to avoid any major financial surprises. Doing so will help ensure that you have the funds available to complete the project.

By following these tips, you can ensure that your finances remain in good shape and help you avoid potential major costs. Begin budgeting today to ensure your savings have time to build before beginning the process. With a little bit of planning and preparation, you can protect your finances and keep them in check.

Tips for Finding a Nursing Home to Meet Your Budget

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Finding a nursing home to meet your budget can be a difficult process. However, it’s vital to ensure that the facility you choose is one that can meet your care needs, while also being affordable. Whether you or a loved one are in need of long-term care, here are some tips to help you find a nursing home that fits within your budget.

Research Your Options

According to data from the Payroll-Based Journal, nearly three in four nursing homes did not meet the expected registered nurse staffing levels recommended by the Centers for Medicare and Medicaid Services in 2017 and 2018. Low staffing levels are just one factor to consider when researching nursing homes. You’ll also want to look for facilities that offer activities, recreational options, and other amenities that fit your needs. Research nursing homes in your area and compare their services, pricing, and quality ratings.

To make your research easier, consider using an online database such as the Medicare Nursing Home Compare tool to access information on quality ratings, staffing levels, and other data points.

Consider Veterans Benefits

For those who are eligible, the U.S. Department of Veterans Affairs offers several benefits for veterans and their spouses who require long-term care. The VA operates several nursing home facilities nationwide and provides financial assistance in the form of pension aid payments to cover some or all of a veteran’s nursing home costs. Eligibility requirements vary based on service history, disability rating, and income.

Compare Prices

Comparing prices for your budget is an important step in the process. Nursing homes can widely differ in costs, sometimes even for facilities that are fairly close to each other. Make sure to get quotes from several different nursing homes before making a decision.

Most nursing homes also have different payment plans and discounts available, so be sure to ask about any possible discounts or incentives you qualify for. For example, some nursing homes offer discounted rates for residents who need less care than other residents.

Check for Payment Assistance

You may be able to receive financial assistance from your state or local government, insurance companies, or other organizations to help pay for nursing home care. Medicare, Medicaid, and long-term care insurance are some of the most common options for payment. In addition, you might be able to receive Medicaid benefits even if you don’t meet the poverty guidelines. With one in nine men diagnosed with prostate cancer and some of those cases being terminal, you might want to check for any help that’s available when looking for long-term care.

Visit the Facility

Once you’ve narrowed down your options, it’s important to visit the potential nursing homes and get a feel for the atmosphere. Speak with administrators and staff members to learn more about their policies and the quality of care they provide. Ask questions about staff qualifications, medical services, and other aspects of resident care.

Finally, put yourself in the shoes of your loved one. For instance, 26% of American adults have untreated tooth decay. If your loved one were to need dental care, how easy would it be to access that care? If the answer is not very easy, you may want to look at other options.

Check Out the Quality Ratings

Reviews, ratings, and feedback from other families are important indicators of quality. The Centers for Medicare and Medicaid Services provide a star rating system to help you easily compare facilities based on their overall performance. When looking at the ratings, make sure to pay attention to the staffing level scores as well as any complaints or citations that have been lodged against the home.

By taking your time and researching all of your options, you can find a nursing home that fits both your needs and your budget. Knowing what services each facility provides and how much they cost will help ensure that you find the right place for yourself or a loved one. Ultimately, finding an affordable yet quality nursing home is possible with some diligent research and patience. If you need help finding a nursing home that fits your budget, call us today!