Personal Finance

What You Should Know About Virtual Accounting

Your accountant doesn’t have to be physically present for your business to benefit from their expertise. Modern technology makes virtual accounting an excellent alternative. It analyzes your accounts remotely and updates them appropriately. Virtual accounting also works if there’s a significant distance between your preferred accountant and your business premises. Some individuals and companies choose […]

Written by prositesfinancial • Dec 4 • 3 minute read

What is Financial Health?

Financial health refers to the overall state of your monetary affairs. It’s your ability to manage earnings, expenses, debts, wealth, and fiscal shocks. There are various ways to create financial health, including savings, retirement plans, and planning how you spend your income. If you can comfortably handle unexpected financial emergencies as well as short- and […]

Written by prositesfinancial • Nov 24 • 3 minute read

Using a 529 Plan To Save For College

A 529 plan is a savings plan that is used to save money for college which offers certain tax and financial aid benefits. 529 plans are quite versatile and they can be used for other things too, such as K-12 tuition bills. The Types of 529 Plans There are a couple of different types of […]

Written by prositesfinancial • Sep 3 • 4 minute read

Credit Card Negotiation Options and Risks

Credit card debt is one of the most pervasive financial issues faced by Americans, with the average credit card balance as of 2016 being $5,551. If paying off your credit card debt is proving to be a substantial challenge, or worse is making it difficult to pay critical household expenses such as groceries, rent, medical […]

Written by prositesfinancial • Apr 17 • 4 minute read

Why Dave Ramsey Might Just Be Right About Using Only Cash

The truth is, most of us just don’t have the self-discipline necessary to use credit cards responsibly. We live in an advertisement saturated consumer society that encourages us to spend, spend, spend at every possible opportunity, and everywhere we go. As a result, most Americans are up to their eyeballs in debt with the national […]

Written by prositesfinancial • Jan 7 • 4 minute read

Top 10 Easy Ways To Save Money Today

Many of us feel like we can never seem to make enough money to make ends meet. It might be drowning in credit card bills or trying to make a student loan payment, but there’s always a reason why we don’t have enough money. While it would be ideal to make more money at your […]

Written by prositesfinancial • Jan 7 • 4 minute read

Key Tips About Student Loan Debt

Overall, the need for student loan debt reform is clear. However, current economical conditions and increasing education costs don’t bode well for any significant changes in the near future. With the student loan debt now surpassing credit card and auto loan debt, it is more important than ever to take precautions and prepare as much […]

Written by prositesfinancial • Jan 7 • 4 minute read

How To Begin Building Your Credit

Starting you credit history is the perfect opportunity to begin good spending habits. With over 45 million Americans you are not alone in this pursuit, and there is a method to the madness. There is so much information out there it may be hard to decide where to begin, but after a little research you […]

Written by prositesfinancial • Jan 7 • 4 minute read

Preparing Your Business for Sustainable Growth 

Business growth can create exciting opportunities, but expanding without adequate preparation may put unnecessary pressure on your finances and operations. Sustainable growth is about building your company at a pace you can reasonably support while continuing to meet your financial obligations and serve your customers. That often requires looking beyond short-term increases in sales and […]

Written by prositesfinancial • Oct 14 • 3 minute read

Tax Steps to Take Before Hiring Your First Employee 

Hiring your first employee is an exciting step for a growing business, but it also introduces new tax and reporting responsibilities. Before your new hire starts working, you need to prepare for payroll taxes, employee documentation, and government reporting requirements. Taking care of these details early can help you establish an organized payroll process from […]

Written by prositesfinancial • Oct 7 • 3 minute read

How Major Life Events Can Change Your Tax Situation

Your tax situation can change significantly from one year to the next, even when your income remains relatively stable. Major events such as getting married, having a child, buying a home, or retiring can affect how you file and which tax provisions may apply to you. Some changes may create new opportunities for credits or […]

Written by prositesfinancial • Sep 30 • 3 minute read

Planning for Irregular Income in Household Budgets

Creating a household budget can be challenging when your income changes from month to month. If you are self-employed, work on commission, rely on seasonal employment, or earn money through contract work, you may not know exactly how much will arrive in each paycheck. This uncertainty can make fixed expenses and long-term savings goals harder […]

Written by prositesfinancial • Sep 23 • 3 minute read

Preparing Your Financial Records Before Applying for a Business Loan 

Applying for a business loan can give you access to funding for expansion, equipment, inventory, or other important investments. But before approving financing, lenders generally want a clear picture of your business’s financial position and ability to repay the debt. If your records are disorganized or incomplete, it can make that evaluation harder and potentially […]

Written by prositesfinancial • Sep 16 • 3 minute read