Ideas to Start a Successful Online Digital Photography Business
If you have the knack of originality and a proficient hand at handling digital equipments, starting your own photography business would not be a mean feat for you. However, possessing excellent technical and photography skills do not qualify you as a business person capable of sustaining your own photography business. To commence your own new business successfully, you need to have prior knowledge on the legal, financial and management aspects of it. Here are a few tips on starting your new photography business.Learn the kind of photography you would like to specialize in: Understanding your skills and knack is the first important step towards initializing a new business as the field of photography is wide and replete with competitive players. In the field you would meet myriad freelancers working for dailies, weekly supplements earning a handful of 5,000 $ per day. So, realize what kind of activity you want to indulge into. Assignment photography is quite a popular pick by fresher as this type is commissioned by a client. The job includes taking pictures for advertising their products, covering weddings, functions and events etc. Stock photography, on the other hand is opted by several photographers contemplating to make a living out of selling their clicked pictures. These stock photography web sites offer platforms to photographers to market their art work to a wide range of potential online consumers. Photographers get paid some fixed commission amount at every download.Scribble your photography business plan: This is the second step to establishing a successful business. This plan will serve as a road map essential for directing your start-up and business evolving needs. In the plan, try to analyze your financial requirements for starting your business; learn the parameters of your resources, marketing strategies that would lead you to learn the financial standing of your business. As you go further in your photography business, this plan would be your check mark to remind you of the progress of the path you had planned before getting started with the business.Open an account for your new business: Another step is to visit your bank and ask them to open a new checking account pertaining to your business. This is done to avoid intermixing of your personal account with your business account. Deposit the amount / capital you have saved into that account and once the account is established, use the amount to invest in your business. It is advisable to accrue a separate credit card for your business and do not make your personal purchasing from it.Get your photography business set-up insured: This is the most imperative step towards starting a new business. You must sort ways to secure your establishment, regardless of its size right at the stage of commencing it. Most of the photographers derive benefits from the clauses mentioned in liability insurance, especially those who have clients paying visits to their studios. This insurance will offer you protection in case, your studio gets affected or you incur an injury.If you would like to learn more about how to start a photography business and need a digital photography business plan, then make sure that you read this online photography business free report written by Dan Feildman, that will literally show you step by step just how anybody really can start a successful home photography business.
Google Business Listing Secrets – Picking the Right Keywords for Categories
Since April 2009 Google has been serving local listings in its search engine results pages. Although the layout has changed a bit and the number of business listings it provides has varied, what has remained consistent is a local Google map and listing of local businesses that are relevant to the keywords entered by the individual searching on Google.For local small businesses this has been a tremendous boost when it comes to competing with large national franchises since it gives precedent to the small business in local markets. And the price is right, too! Google provides a business listing to small businesses for absolutely no charge. However it is important that the small business know a few key points so that it leverages its business listing to the fullest.Choosing the right categories for your Google business listingOne of the most important factors to a successful business listing is choosing the right categories for which your business appears in the local search results. To date, Google allows businesses to choose five (5) categories. One of the categories must be a current Google category, and the other four (4) can be categories that you choose for your listing.The categories typically correspond to keyword phrases that an individual searching for your type of business would enter as a search term. For instance, if you are a plumber, typical keywords that someone searching for your business might use would be “plumber” or “plumbing.” To determine the existing Google category all you need to do is start typing the keyword in the Category section of the Google Business Listing (called Google Places) and Google will automatically suggest keyword terms that are relevant to your business. Just pick the one that suits your business best. That satisfies their requirement for using one of their existing categories. Now the other four (4) are up to you…and it’s important that you get this right as it can mean the difference between receiving multiple leads for your small business…or none at all.Choose Popular Keywords as CategoriesAs mentioned before, you want to use keywords and keyword phrases as your categories, but which ones do you choose? You’ll want to choose the ones that people search for the most, of course. Those most popular keywords will put your business in front of the most prospective customers and give your business the most visibility. And, guess what? Good ‘ol Google helps you with that, too. Just go to the Google AdWords Keyword Tool, enter a keyword in the “Word or phrase” box that describes your business, enter the letters displayed by the “captcha” security code and hit the “Search” button to get the list of keywords Google suggests. Pick the keywords with the most monthly searches that are also relevant to your business.But don’t stop there…Unfortunately for many (but fortunate for you), many businesses pick the four most popular keywords that are relevant to their business from the Google Keyword Tool, use those as their remaining categories and stop there…but that’s where they make a critical mistake because not all of those keywords result in a local search.Now this is a very important point so let’s be very clear. The key to identifying optimum categories is to make sure that the keywords that you pick are popular plus they must also produce a local search, too. Let’s look at an example -Let’s say you are a piano teacher, and you use the Google Keyword Tool to find the most popular keywords associated with your business. Google suggests the following keywords as popular keywords – “piano lessons”, “play piano,” “lessons piano,” and “how to play piano.” That sounds reasonable enough, but it isn’t until you check Google Search that you find some very important information. Only two of the keyword phrases produce a local search – “lessons piano” and “piano lessons.” The other two keyword phrases do not. Interesting!Keyword Lessons LearnedSo the lesson to be learned to get the most visibility for your local business is to choose popular keywords that are relevant to your business but also make sure that those keywords deliver local search results. If they don’t, you are wasting opportunities for your business listing to be shown and not fully utilizing the the visibility that Google wants to give you and your local business.
Get Listed on Google Business Maps
Did you know there’s a FREE listing on Google for your business, and it’s just waiting for you? Have you claimed it yet?It’s called Google Places and it’s a fast and easy way to build your online presence, even if you don’t have a website!With Google business maps -1. Reach millions of Google users, quickly and for free – More people search for businesses online than anywhere else, so it’s important to make sure your business listing can be easily found on Google Business Maps. Creating a listing is easy, takes just a few minutes and it doesn’t cost a thing!2. Easy to edit – Your business may already show up on Google, but you will need to claim it and make sure the details are correct. Any changes you make will appear on Google as soon as you complete the verification process.3. Practical and easy to manage – Your Google Business Maps listing is an easy way to maintain an online presence even if you don’t have a website. Visit Google Places anytime to edit your information and to see how many people have seen and clicked on your listing.4. Add photos, videos and other custom options, all for free – Make your listing really shine with photos, videos, custom categories, your service area, brand name products you sell, how to find parking; and coupons to encourage customers to make a first-time or repeat purchase.Signing up for Google Places is simple. I’ve listed the steps below to create (or claim) your FREE Google Business Maps listing for your interior design business.1. Get a Google Account – If you don’t have one, go to Google.com or Gmail.com and set up an account. It’s a good idea to create a new Gmail account just for this. That way you won’t mind sharing it with others or passing it along, in case you wish to transfer ownership of your listings at a later date.2. Local.Google.com – On the left side of the screen, look for “Put your business on Google Maps.” Click there.3. Google Accounts – Look for the link that says “Google Places”. Click there and you’ll see a page that looks like this:4. Fill in the Blanks – Add your business information and click continue.5. Claim or Create – If you see your business listed there, Google will offer you a chance to claim the existing listing. If you see one that looks like it could be yours, but there are errors, go ahead and choose it. You can fix the errors. If you don’t see your business listed, follow the rest of the instructions to create a new listing.6. Main Form – Complete the rest of the form and click Submit.7. Verify – Google asks you to verify your submission by phone or postcard. They want to be sure that only the right people are able to change any public data about your business. I recommend the phone call option – it’s fast and easy. Either way, you’ll receive a 4 digit code that you will have to enter into the appropriate box on the page.8. Success – You are now done claiming your listing!9. Customize – Be sure to add in photos, videos and descriptions to fill out your listing fully. If you don’t have them handy you can always go back to add them later.Claiming your Google business maps listing is an extraordinarily important factor in determining how you show up in Google, especially when competing with other interior designers in your area.
Google Business Listing – Add Your Business To Google
Did you know that the latest research shows that as much as 97% of consumers use the internet to research products in their local area and according to Google the worlds largest search engine says that around 73% of all internet activity is based around local content.This is fantastic news for local businesses who want to grow their business by attracting pre qualified, laser targeted leads and customers, and what’s even better is that Google has made it easier than ever for a local business to list their business in Google, even if you don’t have a website.How To Add Your Business To GoogleTo create a business listing in Google is easy as filling in the blanks. Simply go to Google and perform a search for “Google Places”. Click on the first result, you will then be asked to login using your existing Google account (if you have one) or simply create one, again it is free and only take about 40 seconds to complete.When adding your business to Google make sure to fill in as much information about your business as you can. Make sure to upload photos of your logo, products, staff members, or shop front, anything that will help your customers identify with your company/business.You will also have to verify your Google Business Listing either by phone or they will send you a postcard in the mail with a code you need to enter to verify you are the owner of the business. I recommend verifying your Listing by telephone as you can do it instantly; postcards can take up to 3 weeks to arrive.Google Business Listing – Creating an Offer/CouponWhen you add your business to Google they also allow you to create a coupons or special offer for customers who visit your Google Places business listing. This is a great way to track and incentivise customers.Add Business To Google – Advanced TipsLike any proven marketing strategy there will always be competition and Google Places is no different. Sure some markets or industries are more competitive than others however if you are looking to get that extra boost and move your Google Places listing up to the top then you will need to implement some or all of the tactics in this section.1. Create Other Business Listings – There are hundreds of local online business directories that operate in your city, state and/or country. These business directories also allow you to create a business profile just like Google Places, some are free and some are paid. It is highly recommended you create as many of these as possible as Google will use this information to help with your Google Places listing. – Important: make sure all information is the same, business name, phone number, address, etc2. Get Reviews – This applies to both your Google Places business listing and any additional business directory listings you create, again these help Google improve the performance of your Google Places profile. Important: it takes a minimum of 5 reviews to get a star rating in Google PlacesGoogle Places business listings are a proven and one of the most cost effective ways for local business owners attack more customers and generate more leads. You can download a free guide to Google Business Listing here.
When to Delegate – The Responsibilities of a Manager
‘That manager can’t delegate’ is a common complaint against the ineffective manager. The senior manager will berate the junior manager for holding on to all their workload, and not appreciating that they have a team to whom they should delegate.Delegation is one of the key responsibilities of the manager, and yet some managers find it impossible to delegate and others delegate really badly.Delegation is not something that happens instantly. Delegation is the end goal of a process that every good manager works on continuously. The process is one of the manager developing the team and each team member through various stages until the time is right to delegate.Coaching the Team for Delegation
The aim of the effective manager is to know when his or her team or team members are ready for delegation. The good manager will not just wait for this moment to arrive. The manager is coaching their team and team members through various stages to prepare them for the time for delegation.
The manager will work with each person through the stages of development:The first stage is directive or telling. The manager will clearly state what is expected, the procedures and protocols and will expect the team member to follow these guidelines. The manager will give feedback on performance and areas for improvement.
The second stage is the coaching stage, where the manager is encouraging their reports to think for themselves. The manager will ask prompting questions to guide the person, and will reinforce or correct appropriately. The aim is to develop and guide the team member. The manager wishes to build up both their knowledge and experience, and their ability to make good judgements.
During this stage, the manager ensures that the person he or she is coaching has a full understanding of the business, and the management ethos of the company. This helps them make decisions and take action in a way that is aligned with the business.
The third stage is mentoring. The manager now frames the issue for the team member, and asks the team member to develop solutions. The manager will work through the stages with the team member, ensuring they are on track, but this is more of a reporting in scenario that a coaching one. The manager will agree the issue, and the reporting methods. They will agree the freedom and limitations for the staff member, how far they can go before gaining the approval of the manager.
The fourth stage is delegation. When the manager has coached the team member sufficiently, and has good reporting systems in place, the manager will delegate a project or an area of responsibility to the team member. Delegation is where the entire project or area of responsibility is handed over to the person. The manager trusts the judgement of the staff member, and trusts the effectiveness of the reporting system.The manager will clearly agree what decisions can be made entirely by the team member, which decisions must be approved before action, and which decisions will remain in the hands of the manager.The same four stages apply to delegating to the team, or to project groups within the team. When the stages are worked through carefully, the manager can be confident when to delegate and will find it much easier to delegate effectively.
What Markets Should You Use for Your Portfolio?
A couple of years ago I made a fundamental mistake: until then I had my portfolio focused mostly on index futures markets. For years I have had with this approach really nice results. But that year, I experienced how frustrating it can be, to go through a couple of periods when index markets are underperforming. That was when I have decided to work really hard and improve my intraday portfolio composed of automated trading systems (ATS).Smooth equity isn’t just about the systems – it is a smart combination of markets, timeframes, trading approaches, and, later on, also innovative position sizing. When you think about it, there is the logic behind it.Even though in times of financial shocks and surprises there is barely any negative correlation in the markets, there are still some markets which live their own lives – and they offer us smart way for diversification.The result is that when one of the market groups is not doing well, there is another, which compensates the losses from the first one – and makes the equity overall smoother.What market groups you should useThis is the first question – what markets groups you should combine in order to get the desired result – smooth equity.We have following futures groups: Index, Currencies, Metals, Energies, Bonds, and Grains. Every market group lives its own life and you can find at least one noticeable market in every group that can represent the whole group.Personally, I have experimented with all groups and, besides currencies, I can highly recommend any combination. The currencies are, from ATS point of view, highly unstable (for example in Forex, ATS are failing really fast and it is really difficult to find profitable ATS for Forex). It also depends on how many markets you create a system for, and how many markets you trade with your account. But even with rather a small account, you can trade 3-4 markets. For such cases, I would recommend following combinations:Combination of 3 markets (pick one market from each market group):
Index
Grains
Energies
Combination of 4 markets (pick one market from each market group):
Index
Grains
Energies
Bonds
Nowadays, I trade several portfolios that are based on the 4 groups mentioned above. Here is an example of one of them (breakout strategies, 30-minute chart, 5 markets, equity for the last 8 years, trading 1 contract per system):The net profit for all 8 years and all markets combined is 421,548 USD and the max drawdown is just 12,315 USD.Smoothen the equity by using multiple timeframesThe second way how to smoothen your equity curve (in a combination of trading several markets from different groups) is using several timeframes for every market (ideally without changing system parameters, or with just small changes).It is more like a final touch than smoothing the equity, but it brings up an interesting idea that it might be better to add new timeframes instead of trading multiple contracts in the same timeframe. Another option is to optimize also the timeframes (check the results of your system on several timeframes and pick one timeframe for each market – it can, but doesn’t have to be the same) – but then, we need to ask ourselves how much of over-optimization this is.Anyway, here is another example of the portfolio mentioned above, when for every market we add the second, 15-minute, timeframe. The equity is slightly smoother, the drawdown hasn’t increased so much, but the profit has.The net profit is 812,457 USD and the drawdown is 18,815 USD.What systems to useThe best variant is to have in a portfolio both trend and also counter-trend systems. Still, it is sufficient to have a system that can smartly react on both situations (equally, if possible).I am specialized in breakout strategies and I can say that it is all you need to have a balanced portfolio across several markets – but only if you have systems trading both long and short. Sometimes you just need a simple breakout strategy that doesn’t have great performance (that you wouldn’t trade individually), but in combination, you have a nice portfolio with smooth equity curve. You need to constantly focus on the performance of the portfolio – it is more important than the performance of underlying systems. Remember when there is a huge drawdown for one market (system), the others can compensate that and you can still make a profit.For that, you need to have a quality workflow setup how to create new and new strategies, as you will need a lot of them and for several markets. At the same time, it is crucial to have a setup of robustness testing procedures so that we can add to our portfolio really robust strategies.
Small And Midsized Company Marketing And Marketing Communications – A Lesson From Large Agencies
Over the past few years, rapidly developing technologies have changed the way marketers think about marketing and marketing communications strategies, plans and tactics. However, somewhat quietly but perhaps more importantly, a significant change has occurred with the world’s largest communications agencies – the dramatic growth of consulting companies at the expense of traditional advertising agencies.Management and accounting consulting companies with new services are now ranking sixth through tenth among the world’s biggest communications companies. The specialized divisions of Accenture Interactive, PwC Digital Services, Deloitte Digital, Cognizant Interactive and IBMix had total global revenue of over $20 billion in 2017, with an eye-popping 32 percent growth in US revenue versus a year ago.While traditional advertising industry giants WPP, Omnicom, Publicis, Interpublic and Dentsu are ranked as the top five, with global revenue of nearly $62 billion, US revenue barely increased at 0.3 percent (Advertising Age).Why is this change happening and what can small and midsized marketers learn from it?Consulting Companies Focus On ROIThere are many reasons for the growth of consulting companies – in B2B, B2C and nonprofit marketing and marketing communications areas – but the top reasons are:
Consulting companies already have deep ties, experience and credibility helping organizations improve their profitability, because of a sharp focus on ROI;
Their existing familiarity with digital technologies, along with the financial resources to acquire specialized digital companies for expansion;
Maintaining a data-based strategy with clients and prospects – not creative alone – which means they are focused on understanding customer wants and needs, as well as customer experiences at all pre- and post- customer purchase points;
A focus on marketing and marketing communications effectiveness and not just efficiency, resulting in a very big difference to a brand’s profitability.
In short, a history and vision of focusing on and improving a brand’s profitability and its ROI. Keeping an eye on the bottom line – cost per customer, not just media cpm efficiency.ROI Focused Marketing And Marketing Communications ConsultantsAs a small of midsized marketer, what can be learned from this dramatic shift of larger marketers? With only a small (sometimes inexperienced) staff, limited financial resources and time constraints, what should be considered?Start with established marketing and marketing communications consultants who are clearly focused on a brand’s profitability and ROI, and not just “likes” or “clicks”. They should have significant experience across industries and brands, both for profit and nonprofit, and have a broad understanding of customer, prospect (and employee) motivations to purchase and repurchase, regardless of the business environment.But, above all, they must be media neutral and not selling “one size fits all” solutions. As Tom Bradley, former head of marketing at Nestle said, “The best source of marketing communications leverage is the quality of the message… not the media vehicle, new or traditional, that does or does not deliver.” And that also means you must be sure that your consultants have the ability to cultivate and manage the creative process.Selecting A ConsultantUnsure of how to select a consultant, much less what type of professional to look for? If your business is floundering and in serious need of overall repair, along with financing, you probably would be better served by either a management or accounting consultant.If, however, your primary need is to establish or improve a weak marketing or marketing communications program for the short and long term your selection should be apparent. You should be looking for rigorous and objective counsel on the entire scope of traditional marketing and marketing communications opportunities available to you (traditional vs. new media; conventional vs. digital; etc.).Beyond the qualities of the consultants previously mentioned, be sure to look for:
Someone who is disciplined, apolitical, down to earth, and willing to be part of your team; consultants who will promote candor across all levels, who will listen and explain what needs to be done to everyone’s satisfaction; teaching, not lecturing, is very important’;
Professionals with the ability to develop successful strategies, plans and executions with your team or, if necessary, who can provide outside specialists to improve part or all of the program;
People who have strong convictions to use research and measure not only what has been done but also what is proposed to be done; measurement is key to evaluating success or the need to modify a plan;
A flexible organization that can bring in marketing and marketing communications specialists when and as needed so that overhead isn’t an on-going expense.
Most small and midsized companies find themselves with not enough time, skill or financial resources to develop and execute a profitable marketing and marketing communications program. These challenges are growing exponentially, and consultants can be of great value in navigating this complex environment and adding value to your brand.Hopefully, these ideas will give you food for thought, but as Mark Twain said, “The secret of getting ahead is getting started.”
Balance Transfer and Housing Finance
The Indian immovable property has come of ages. Consumer is the King now and gone are the days of monopolistic behavior. And definitely, if you are the one with sound financial background and impeccable credit record you can strike a better deal with the banks in terms of interest rates and other payment conditions and purchase your dream property without any hassle.
Interestingly, the same criteria is equally applicable on those, as well, who have already availed a loan from a bank. Near about all the major public and private sector banks in the Indian banking system are now offering the option of ‘Balance Transfer’ on housing finance. Often, banks in the housing finance sector tend to increase the interest rates when the benchmark interest rates increase. But, such alacrity is not shown by them in decreasing rates whether the Repo rate comes down or not. In such circumstances, balance transfer help the customer a lot. He can replace the higher rate loan and avail a lower rate one by paying some extra charges. These charges are lower compared to the total payable interest.
What is Balance Transfer and how is it relevant in the housing finance?
There are times you find that the interest rate on your home loan is at a higher level. Take an example. Suppose you were paying at the rate of 10.5 per cent per annum. This rate is quite high in comparison of 9 per cent offered by some other bank. In such cases balance transfer of housing finance comes into rescue. You can trigger off the balance transfer option with your existing bank or lending institution, under which the unpaid portion of your housing finance would get transferred to your desired bank, thereby taking benefit of the difference in the housing loan interest rate.
Things to take care of at the time of balance transfer:
* Tenure of loan amount should be taken care: Ideally, you should consider taking the balance transfer option when the remaining part of your payment period is more than 5-years and in such a case you have the time for speculative gains. There is no profit in transferring the home loan from one bank to another if you end up paying early payment penalty and other processing charges even more than the difference of housing loan interest rate and the amount you had to pay towards interest in the normal condition.
* Early Payment Charges associated with the housing finance scheme: Banks like State Bank of India, IDBI and ICICI offer benefits like exemption of the early payment charges to your existing bank if you transfer the balance. So you must confirm the same with the new lending institution that are they ready to deal with this matter. Otherwise, the deal is not profitable.
* Additional charges involved with the loan amount: You must confirm that the desired amount for your home purchase loan is perfectly at par with the balance you had in your previous bank. It may be the case that that your new bank pays all early payment penalties and processing charges on your behalf and later add the amount to the principal of your housing loan. So, in such case your total owing remain the same and the transfer is not profitable. In this situation, you have to suffer the impact of debt compounding, which does not favour you in the long run.
Seeking balance transfer as a burden reduction option needs the similar degree of caution and study that you undertake while taking housing finance. Definitely with balance transfer, you can save a considerable amount of interest charges under this option once you strike the right chord!
Corporate Finance Definition
Corporate Finance is the process of matching capital needs to the operations of a business.
It differs from accounting, which is the process of the historical recording of the activities of a business from a monetized point of view.
Captial is money invested in a company to bring it into existence and to grow and sustain it. This differs from working capital which is money to underpin and sustain trade – the purchase of raw materials; the funding of stock; the funding of the credit required between production and the realization of profits from sales.
Corporate Finance can begin with the tiniest round of Family and Friends money put into a nascent company to fund its very first steps into the commercial world. At the other end of the spectrum it is multi-layers of corporate debt within vast international corporations.
Corporate Finance essentially revolves around two types of capital: equity and debt. Equity is shareholders’ investment in a business which carries rights of ownership. Equity tends to sit within a company long-term, in the hope of creating a return on investment. This can come either through dividends, which are payments, usually on an annual basis, related to one’s percentage of share ownership.
Dividends only tend to accrue within very large, long-established corporations which are already carrying sufficient capital to more than adequately fund their plans.
Younger, growing and less-profitable operations tend to be voracious consumers of all the capital they can access and thus do not tend to create surpluses from which dividends may be paid.
In the case of younger and growing businesses, equity is often continually sought.
In very young companies, the main sources of investment are often private individuals. After the already mentioned family and friends, high net worth individuals and experienced sector figures often invest in promising younger companies. These are the pre-start up and seed phases.
At the next stage, when there is at least some sense of a cohesive business, the main investors tend to be venture capital funds, which specialize in taking promising earlier stage companies through quick growth to a hopefully highly profitable sale, or a public offering of shares.
The other main category of corporate finance related investment comes via debt. Many companies seek to avoid diluting their ownership through ongoing equity offerings and decide that they can create a higher rate of return from loans to their companies than these loans cost to service by way of interest payments. This process of gearing-up the equity and trade aspects of a business via debt is generally referred to as leverage.
Whilst the risk of raising equity is that the original creators may become so diluted that they ultimately obtain precious little return for their efforts and success, the main risk of debt is a corporate one – the company must be careful that it does not become swamped and thus incapable of making its debt repayments.
Corporate Finance is ultimately a juggling act. It must successfully balance ownership aspirations, potential, risk and returns, optimally considering an accommodation of the interests of both internal and external shareholders.
Finance Definition – The True Meaning
When many people think of finances they automatically think about money. While this is true there are various aspects of finance that many people are unaware of or even have little understanding. It is generally about the way that you manage your money, assets and make investment decisions. The manner in which you handle your money can make the difference between you being financially stable or unstable. If you learn how to discipline yourself and come up with a realistic budget you can manage to survive through financial difficulties.
However, it is easier said than done to execute what few are able to accomplish. It is important that you master your finances no matter how little your income is. You have to gather and research as much as possible so that you are in a position to increase your income while reducing your expenses. There are many sources of information to guide you on what can help you improve your financial situation.
When you are in a position to manage your debt, income and expenses, then you are in a comfortable place. When you want to come up with a proper budget, you have to add up your total income and then your total expenses. This should be a start to track each monthly expense. Look into your credit cards, your loans and find ways to improve your finances. This will help you have a clear picture of what you can cut back on and where you can source some extra income.
Many hardworking people make mistakes because they do not have a clear understanding of how they are spending their money on a monthly basis. When you are dealing with your finances, you have to have a long term target so that you can have security when you are retired.