Contributed Posts – Page 39 – The Big Words Blog Site

Building Respect Between Your Company & Its Employees

“There are a lot of reasons why you might want to have a lot of respect going on between your company and the people who work for it.”

Buffer

Three focuses of my blog are Business/Entrepreneurship, Organizational/Management Discussions and Workplace Discussions. When you own a business or are in management of some kind, your employees need to feel that you respect them in order for them to give you their best effort. The following contributed post is entitled, Building Respect Between Your Company & Its Employees.

* * *

There are a lot of reasons why you might want to have a lot of respect going on between your company and the people who work for it. For one thing, that is generally going to lead to a much better working culture, as people feel more appreciated and generally find themselves happier to work hard and long. It also means that the relationships between people will improve, which can be enormously helpful as well. And it will mean that the company is in a better place to improve generally.

Pic Credit – CCO License

In this post, we are therefore going to take a look at some of the major ways in which you can hope to build more respect between your company and its employees. You should find that a lot of these ways are quite simple to enact, and yet powerful in their results, so that is something that you should certainly think about. Let’s take a look.

Nurture mutual trust

It’s important to build and nurture trust within teams to optimize productivity and enhance well-being and job satisfaction, but trust should be mutual. Employees should have trust in their employer, but crucially, employers must also be able to trust their team. There are multiple ways to establish strong relationships, including open communication, frequent conversations and understanding what is expected of you as either an employer or an employee. Employees should respect the terms of their employment contract and business owners and team leaders should have realistic expectations of their team.

There are additional steps employers can take such as using substance testing services provided by companies like Genesis Reference Laboratories but this is a personal choice. In some industries, regular testing is recommended, but this is not always the case. If you don’t operate within these sectors, for example, healthcare, aviation and transport, it’s best to focus on establishing solid, long-lasting relationships through transparency, consistency, being honest and open and showing employees that you respect, value and appreciate them.

Show Respect In The Workplace

One of the first things you should aim to do here is to try and show some respect in the workplace in general, to the staff working there as well as to one another. That’s a really fundamental way to ensure that everyone has a much better experience in the workplace, and it’s something that is actually relatively easy to build up. It all begins with you – as long as you personally, as the manager or leader of the business, are showing respect to people in a really basic, human way, that is going to then become the norm across the board.

So start today. If you think that you might have been letting this slide, it might be a good idea to think about improving it right now. The sooner you start, the better, as this is going to mean that you see the results a lot sooner. If nothing else, you are probably going to find that doing this makes it much more enjoyable to just spend time in the workplace, and that’s a great feeling in itself and certainly something to consider.

Pic Credit – CCO License

Hold Your Company To Its Values

Most people will find it a lot easier to enjoy working for a company that has good values, and which sticks to those values as much as possible. So if you are thinking of trying to do that, you need to make sure that you, first, decide on some values which your company can stick to, and then second, actually make sure that you do so. What those values are can vary a lot, but these days it’s going to be wise if they are good for the planet and for society in general.

Once your company is sticking to its values in this way, you’ll find that you are much more likely to have a lot of respect for employees, and the same will be in return too. That’s a really important thing that it is well worth trying to achieve from the start. It’s especially powerful if you are personally happy with those values as well.

Work On Employee Satisfaction

In a general way, anything you can do to improve employee satisfaction is always going to be really helpful towards improving what your employees think about the company and about working for the company. That is the kind of thing that is always going to be vital to consider, so it’s important that you are paying attention to that and that you are working on employee satisfaction specifically in all the ways you can. As it happens, there are a lot of ways that you might be able to do that.

For instance, you can make sure that you are providing a workplace that people are able to enjoy working in, and that the pay and benefits are as strong as can be. Those are the kinds of essential things which you will want to make sure you are providing from the first, and as best as you can. It’s likely going to mean that your employees are naturally and organically much happier to work for you, which is the main basis of a good relationship between the company and the people who work for it.

Pic Credit – CCO License

Don’t Underestimate Good Branding

Branding is not only the kind of thing you need to think about when you are marketing your business. It’s also something that affects how your employees feel about working for you. After all, the better the public image of the business is, the better people are going to feel about working for that business. So you should definitely make sure that you are working on the branding regularly, keeping the public image as positive and bold as you can, so that your people really enjoy and feel proud about the work.

There are a lot of ways to do that, but it all comes down to having a decent outreach process. If you are doing that right, you should find that you ultimately get to a place where your business is widely respected, and these days it’s easier than ever to achieve this. It’s amazing how much it helps, so it’s certainly something you will want to pay attention to.

Train Your Employees

Good training is important for a number of reasons, but one of the main ones in this regard is that it ensures that your employees are going to be a lot more confident in their work, and generally feel more capable. But it also means that you are showing them you trust them and you think that they are capable of more. That is something which feeds into the positive relationship really well, and which you are therefore going to want to think about a lot.

Pic Credit – CCO License

You can offer all kinds of training which employees will appreciate having. That might be team training, leadership training for those that you think would do well with the role, or something like a first aid certification, or even fire marshall training. Giving people more responsibility in this way tends to improve the relationship quite a lot, so it’s well worth thinking about doing this for sure.

Be Fair

In all of your dealings with your employees, make sure that you are being as fair as possible. That is important for a number of reasons. For one thing, it means that they are going to feel that you are actually acting how you should as an employer, and that casts a good light on the company more generally. It also means that they will know they can trust you, and having good trust is central to any relationship. That is something that you should definitely think about here.

How can you make sure you are being fair? For one thing, take care that pay is done fairly and that everyone is given equal opportunities to achieve and to grow in their position. That is the kind of thing that people really appreciate and which you should be careful not to overlook. As long as you are fair to people, the relationship will improve significantly, so that’s something that you should make sure to think about.

Those are just some of the main ways that you can build respect between your company and your employees. As long as you have done that, it will mean great things for them as well as for you – and the company itself is much more likely to see a lot of success in its future, which is obviously good news too.

Finding Your Perfect Second Home On The Beach: Tips And Tricks

Three focuses of my blog are Financial Literacy/Money, Home/Property and Home/Living Discussions. Many people aspire to have a second home, often on the beach. The following contributed post is entitled, Finding Your Perfect Second Home On The Beach: Tips And Tricks.

* * *

Do you daydream of owning a second property on the beach, where you can go to get away from it all and enjoy some much-needed rest, relaxation, and rejuvenation? If so, you’re not alone. A vacation at the beach may be enjoyed for only a few days, the entire summer, or even the whole year if you have the right house. However, because there are so many stunning coastal sites from which to select, it can be challenging to determine where to begin your search. The following are some pointers that can assist you in your search for the ideal beach house for you:

Consider your budget: It is essential to have a solid understanding of how much money you are available to spend when purchasing beachfront property because the prices of properties further inland are often lower. When developing your financial plan, it is important to remember to account for other costs, such as those associated with insurance and property taxes. Perhaps you might discover a reputable professional brokerage that could provide the information you want.

https://images.unsplash.com/photo-1605352081508-2e09927ecfe3?ixlib=rb-4.0.3&ixid=MnwxMjA3fDB8MHxzZWFyY2h8NHx8aG9saWRheSUyMGhvdXNlfGVufDB8fDB8fA%3D%3D&auto=format&fit=crop&w=500&q=60

Make a choice on the kind of house you wish to live in: Do you envision yourself living in a huge, contemporary home, or would you prefer something that is more rustic and homey? Which type of housing best suits your lifestyle—a condo or a single-family home? When making this selection, it is important to take into consideration your way of life as well as the activities that you want to conduct at your beach property.

Consider the location: certain beach towns are famous for their exciting nightlife, while others are famed for their tranquility and seclusion along the coast. Developers such as Paul Ognibene are always keen to pick locations that are attractive, and going where the best developers go will often give you the best results. Do you desire to be in close proximity to a variety of restaurants, stores, and entertainment options, or would you rather be in a more secluded location? Think about how near you want to be to the ocean, as well as whether or not you want to live in the middle of a town or in a more remote area.

https://images.unsplash.com/photo-1499793983690-e29da59ef1c2?ixlib=rb-4.0.3&ixid=MnwxMjA3fDB8MHxzZWFyY2h8Mnx8YmVhY2glMjBob3VzZXxlbnwwfHwwfHw%3D&auto=format&fit=crop&w=500&q=60

Do your homework on the region: Before settling on something, it’s important to do your homework on the region you’re considering moving to. Investigate the local community and activities, as well as the beach and water conditions, and the weather in the area. Also, if you intend to rent it out, you should investigate the rental market in the region to see whether or not it meets your requirements.

Take a trip: Once you have determined which possibilities are most viable for you, it is time to take a journey to view the available real estate in person. This will provide you with a better understanding of the surrounding region and assist you in determining whether or not it is an appropriate location for your beach property.

When it comes to buying a property on the beach, there is no cookie-cutter approach that works for everyone. However, if you take into account your financial constraints, the sort of property you want, the location you want to live in, and do some research on the neighborhood, you will be well on your way to discovering the ideal beach home for you.

Expand Your Search: While an agent can be helpful in assisting you in finding your perfect second home, you may also want to expand your search. For example, if you’re hunting for a luxury and rare property and have a large budget then you may want to consider using a tailored marketplace that’s designed for buyers like yourself. You can look into and read over the Concierge Auctions reviews to get a better idea of their services and how they can help you in your search.

A Change Of Direction: Your Sign To Take The Plunge

Two focuses of my blog are Career Discussions and Health/Wellness. Each of has to decide what we will do with our lives and what will make us happy. The recent pandemic made lots of people consider this. The following contributed post is entitled, A Change Of Direction: Your Sign To Take The Plunge.

* * *

Although the pandemic was a tragic and challenging time for many; it was also a time of great change. Processes and set-ups had to adjust, and often, completely change; especially when it came to how businesses were run, and how people had to work and earn their money. The lack of social interactions and pastimes, meant that the public also had time to reflect, along with starting new hobbies, habits, and ways of life. However, the world has been slowly going back to how it was pre-pandemic, and many are heading back into the daily commute to the office.

This has brought about many thoughts and feelings on what makes an individual happy, and if their 9-5 office job is quite right for them. This is due to the fact that through adapting lifestyles to suit the situation at the time; many have changed in themselves. Priorities are different, new skills have been perfected, and fresh opportunities have become within reach. If you’re someone who is questioning their career path or job; you won’t be alone. Maybe it’s time to take the plunge, and start working towards your dreams, so that you don’t dread Monday mornings. The following are some simple ideas that could get your started.

Image source

Learn The Tools Of The Trade

A sure way of gaining some skills and expertise in your chosen area, is to invest in some training, or take time to do some learning. You’re unlikely to know or completely understand what it takes to work in a completely new field, especially if you plan to be running your own business. Therefore, gaining plenty of tips and having some tools behinds you, from reputable sources, is a great start to your future. Check out a Marie Forleo B School review so that you can understand what’s on offer, and what to expect from a webinar, or seminar. Not all education and classes cost a lot, if anything at all. Therefore, it’s always worth researching your options and signing-up ASAP!

A Contingency Is Key

As a fledgling business or entrepreneur, there will always be risks; you’re just starting out after all. Therefore, it’s crucial to have saved enough money and resources to tide you over if you face some difficult weeks and months; a contingency, or emergency fund, is important. It might even be worth ensuring that you have a part time job so that you can be safe in the knowledge you’ll always have a regular income, as you build-up clients, or sales.

Keep Your Confidence

It’s important to remember that even the most successful people, often started at the bottom and they will have tried and failed often. What set them apart was not giving up as they had plenty of confidence in their abilities and ideas. So, this is a reminder to keep telling yourself that you can do this; be ready for challenges and failures, and don’t give up. Even if you write and repeat a daily affirmation; do whatever you can to keep believing in yourself, because you can do it!

5 Questions To Ask To Ensure That Your Business In Financially Stable

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. When you’re in business, one of your goals is be stable and to excel. The following contributed post is entitled, 5 Questions To Ask To Ensure That Your Business In Financially Stable.

* * *

One thing that business owners need to keep an eye on constantly is stability, more specifically, the financial stability of their business. You may not even realize it, but your business could be struggling right now, and you do not even know it. But this can be reversed too. You could have a thriving business, and you may think that you’re on the edge of bankruptcy. It’s important to have a realistic approach, so here are some questions you should ask yourself to determine if you’re financially stable or not.

Image credit

Do you have a plan in place in case of an emergency?

If you are a small or medium-sized business owner, you must take steps to build up an emergency fund and prepare for a crisis. A plan to ensure that your company can continue functioning even after a disaster will be the key to success. What can you do during the short term? How about the long term if a major emergency strikes? Do you have good enough credit for something such as a coastalkapital.com business loan?

Can you consider measuring expidentures and return on investment?

If you want to know how well your business is doing financially, you need to measure expenditures and the return on investment of your company. All businesses need to do this; in fact, if you’re not doing any bookkeeping, then you could end up in some hot water. So, do you know your ROI? Do you know how well your business is truly doing?

Do you need to reduce expenses often?

To ensure that your business is financially stable, you need to find ways to reduce expenses. Expenses can come in the form of overhead and operating costs. Cutting down these costs can help you increase your profit margin. By reducing your spending, you can make more investments in your business.

Cutting expenses is normal for a business; even stable companies will do this frequently. However, you need to ask yourself how often you are scratching at your head and stressing over what expenses need to be reduced. The key to a successful online business is about allowing yourself to take risks, move up from your business, and constantly reduce expenses that can hold you back.

Can you understand your financial risks?

Knowing your financials is the first step toward building a profitable and sustainable business. It can be daunting, but it can be easily managed with a little forethought. Sometimes, owning a business is filled with financial risks; are you constantly having to take them? Is your business in good shape to where it’s not a risk if something has to be done?

Do you have loyal customers?

When you are trying to make a business more financially stable, you want to have loyal customers. Loyal customers tend to spend more on your brand and are more likely to return. They also provide valuable feedback and will be more likely to share their experience with other customers.

To have loyal customers, you need to ensure that your customer service is high. This can be done by providing an excellent customer service experience, making improvements, and offering discounts. You can also use your customer service as a marketing tool to attract new customers. Plus, this is a good indication of your product and services.

What Are The Best Ways To Keep Your Business On Track

Two focuses of my blog are Money/Financial Literacy and Business/Entrepreneurship. When running a business, you must always be thinking about keeping it on track as there is the potential for it come off the rails. The following contributed post is entitled, What Are The Best Ways To Keep Your Business On Track.

* * *

As a business owner, it’s your job to ensure that you are keeping your business on track. While this might not always be easy, it’s something that you have got to work on as much as you can. The last thing that you want is to allow your business to fall behind, because this is going to cause you even more issues that you’re going to have to work out. In this article, we’re going to be taking a look at some of the things that you can do to keep your business on the right track, so keep reading down below if you would like to find out more.

Credit Image – CC0 License

Ensure All Your Equipment Is Working

You should always ensure that all of your equipment is working. This might mean that you should be conducting regular checks, preferably daily, to make sure that this is the case. It might sound like a lot of work and a lot of effort, but it’s important that you do so because the last thing you need is to go to start the day only to find out that something isn’t working.

It’s always a good idea to have spare parts for your machinery, or even just be able to source it quickly so that you don’t have to wait for days or even weeks for it to get fixed. For example, you might want to ensure that you have rollers conveyor spare parts in the back just to be on the safe side.

Adapt With The Times

In order to keep your business on the right track, you’ve got to make sure that you are adapting with the times. There is nothing worse than being left behind when it comes to business, and your company as a whole is going to suffer for it if you let this happen. It’s essential that you are keeping up to date with the new advancements in your industry, the new tech that is now readily available and so many more things. Change can be scary, but that doesn’t mean that it isn’t necessary.

Always Have Back Up Plans

The last thing that we’re going to say is that you should always have a back up plan in place for when things start to go wrong. This happens more than anyone really cares to admit, and that’s where you need to be on the ball. The second things start to go wrong, you need to have a back up plan that you are able to implement, ensuring the least amount of downtime possible at any given time.

Hopefully, you have found this article helpful, and now see some of the best ways to keep your business on the right track. It’s not always easy, and there are going to be times in which you struggle to do this, but the best thing that you can do is persevere through those times and just keep going. We wish you the very best of luck, and hope that you manage to see success!

Choosing A New Doctor: Think About These Things

A key focus of my blog is Health/Wellness. One of the most important decisions you can make is choosing the right doctor. When doing so, there are some important things to consider. The following contributed post is entitled, Choosing A New Doctor: Think About These Things.

* * *

Your health should be treated with the utmost importance. Obtaining trustworthy and high-quality medical treatment is one way to accomplish this goal. It requires finding reputable medical professionals who put both your physical and mental well-being at the forefront of their care. There are a few things that you should look for while searching for a doctor, regardless of whether you are looking for a basic care physician or a specialist.

Reading reviews and soliciting recommendations from friends and family members is typically a wise course of action. Selecting a physician may prove to be more challenging than it initially looks to be. Under no circumstances should you settle for anything that falls short of your standards. You are deserving of the time and energy that it takes to locate the best possible medical care for you.

image

The connection that you have with them

When choosing a physician, you should look for someone with whom you have a good rapport and can easily talk. You do not need to be best friends with your doctor because they are there to do their job, but it is really important that you are able to communicate with them and that they listen to what you have to say. It is possible that it will be required to confide in them and discuss sensitive material with them. If you have someone you can talk to and trust who also pays attention to what you have to say, doing this will be much simpler. Investigate both their communication skills and the manner in which they engage with you.

In general, you should search for a physician who is friendly and who shares the values that you and your family hold dear.

Their breadth and depth of experience and knowledge

Before choosing a doctor, it is important to think about your particular needs. Think about the knowledge and experience they need to have in order to offer you the best possible care, taking into account any illnesses you might have or your past medical history. It is essential to do this in order to prevent errors that are the result of carelessness or a lack of competence.

Even though the vast majority of mistakes made by doctors are inadvertent and not the result of any kind of malicious intent, there are still times when doctors commit acts of medical malpractice. If something goes wrong, you should first and foremost voice your concerns and keep a record of your experience. This is true for any interaction that you have with the doctor or the doctor’s office. It is possible that your situation does not qualify for compensation, but you should always be aware of the legal options available to you. In the event that this happens, you will need to get in touch with someone like Attorney Joseph Taraska who has experience in this area.

Their trustworthiness

When choosing a physician, you should give consideration to their dependability in addition to the characteristics outlined above. The following are some examples of questions to ask:

● How long does it take for them to respond to questions?
● Who steps in to lead the team in their absence?
● How far is it from either your house or your place of employment to the office?
● After making a phone call, how long do you have to wait before you can schedule an appointment?
● Are you able to claim them on your insurance?

The responses to questions like these will provide you with a sense of trustworthiness in the case of an emergency as well as for your everyday requirements.

How Art Can Help Your Mental Health

Two focuses of my blog are General Education and Health/Wellness. The impact of the arts are not well understood in today’s world. While hard work and some luck are important to make a career out of the arts, they are very therapeutic. The following contributed post is entitled, How Art Can Help Your Mental Health.

* * *

We should all be trying to take better care of our mental health, and that is something that might not always be quite as easy as you would hope. Nonetheless, if you are keen to do this, there are some areas in particular that you might want to focus on in order to make it easier. One thing that can help a great deal with your mental health is art. As long as you are aware of this, you’ll find it is much easier and simpler to be happy and to enjoy your life day by day as it comes.

Pic Source – CCO License

Expressing Your Emotions

For one, art can be a great way to express your emotions, and being able to do that is always going to be central to having good mental health. It’s problematic when you bury your emotions, or you don’t even know they are there, so it’s a good idea to be able to bring them out in some way, and usually art is one way that you can do that quite effectively. This is true for both creating art and consuming or viewing it, so it’s something that you might want to consider from both perspectives.

Dealing With The Darkness

Sometimes art is more about finding a way of dealing with the darkness. This can be a personal darkness, like when you are going through a particularly tough time, or it can be a global or universal one, such as trying to deal with fears about the end of the world. At times like that, art can be there to help you work it all out. You can watch movies about the end of times, read dystopia and utopian fiction, or create something new that you think might help people in some small way. It all helps in one way or another.

Overcoming Loneliness

Another thing that art can be very good for is making it clear that you are not alone. A lot of us feel lonely from time to time, and it can be horrible thinking that there is nobody out there who understands us. However, you can soon come to see that actually you are understood, and that for anything you feel, other people have felt it too. Art can bring people together in this way, and it’s the kind of thing that you are definitely going to find can be really useful for having stronger mental health.

Pic Source – CCO License

Understanding Yourself Better

Last but not least, art can be a very effective way to come to understand yourself a lot better. When you are creating or experiencing art, it often has a way of making you think about yourself in a manner that can be quite helpful in this regard. That is something that can be really effective, and it’s likely that you are going to come away feeling so much better about who you are and why you are the way you are. That in itself turns out to be a really central part of having good mental health.

Effective Tips To Enforce Workplace Safety

Two focuses of my blog are Organizational/Management Discussions and Workplace Discussions. If you are supervising a workplace, one of your utmost considerations needs to be the safety of those who are on its premises. The following contributed post is entitled, Effective Tips To Enforce Workplace Safety.

* * *

Retaining safety at the workplace is essential for employee growth and increased productivity. Indeed, it would be best if everyone is protected from harm. With this regard, what are you doing to ensure your office is hazard-free? If you’re wondering where to start, here are some tips to help you enforce workplace safety.

1. Hold regular meetings

Regular discussions enable every team member to develop ideas for assuring security at the office. This way, you can implement safety measures that would be taken seriously at the workplace. Even though most workplaces have strict rules on maintaining high standards, safety precautions must be enforced to guarantee smooth working. Having an open forum at work allows employees to discuss the dangers faced each day at work-It helps them know how to safeguard and make the best decisions to ensure safety.

2. Update and maintain equipment

To keep a healthy working environment, you should constantly check devices at the office. Admittedly, most people leave devices unchecked if not in use. Ensure every tool is maintained properly, and any faulty equipment should be repaired or replaced. Any kit that seems to be harmful should be kept far away or saved in a cabinet for security purposes. However, if equipment needs urgent supervision, it should be done immediately to avoid hazards. For example, you need fire alarm maintenance services to ensure that your devices are in top condition. It is your job to keep heavy gear conserved correctly as an employer. Also, enlighten your co-workers on how to use each device and ways to retain it.

3. Reinforce the wearing of safety gear

All kits provided to employees for protection should be worn correctly if the need arises. Indeed, having the right PPEs is vital in securing workers’ health, like wearing a helmet on your head, sturdy boots for your feet, safety glasses to protect your eyes, gloves for your hands, etc. All these personal protective equipment reduce employee exposure to hazards. But do well to employ rules to confirm each team member complies with the law. Reiterate the essence of wearing protective apparel-use PPE in the workplace; this way, everyone will work safely.

4. Appointing a safety compliance officer

One of the ways you can enforce security is by hiring a safety officer who will be in charge of all the tools and provide safety at the workplace. For instance, if you’re the chief technician of a factory firm, safety is one key thing you would look out for even before employees start working. Such places need a safety officer to inspect, supervise and conserve all the devices used in the factory. However, all employees must also be educated on operating various available equipment, so keep this in mind.

Everyone has a role to play when it comes to safety. Ensuring protection at the workplace is not only the employer’s duty but also the employee plays a significant role in keeping safe. Hopefully, these tips will help you achieve the desired outcome, so feel free to leverage them.

How To Improve Your Finances In 2023: A Quick-Start Guide

A key focus of my blog is Financial Literacy/Money. There is a lot of financial uncertainty heading into 2023. As such it’s going to be critical to arm yourself with as much valuable information as possible. The following contributed post is entitled, How To Improve Your Finances In 2023: A Quick-Start Guide.

* * *

Image Source: Freepik

If you have been dealing with unprecedented financial pressure over the past years, you are certainly not alone. With inflation reaching its highest levels since 1982, consumer prices constantly on the rise, and the pandemic-induced crisis still lingering on, many families across the nation are still struggling to make ends meet.

However, as the economy continues to bounce back, there is a lot that you can do to regain control of your finances and get a step closer to your financial goals in 2023. In this quick-start guide, you’ll find everything you need to know to start the year in the right way.

Take a Hard Look at Your Finances

The first step is to take a hard look at your finances and spending habits. Looking at your past months’ bank and credit card statements can help you understand how much and where you tend to spend. In turn, this analysis can help you identify inefficiencies and overspending cases, so as to improve your next month’s finances.

Comparing how much you earn and how much you spend can help you better understand your current situation.

Make a Budget – And Involve Your Whole Family

Once you have a better idea of where you stand financially, it is time to look into how to improve your financial situation. And, to do so, you’ll need a budget that you can follow. But how can you do so efficiently?

If you are struggling to keep up with remembering and recording each and every transaction, you might consider adopting a different approach to budgeting. For example, methods such as the 50\30\20 rule can help you keep track of how much you spend, save, and invest each month without causing you to spend hours tracking every transaction!

Tackle Your Debt

The next step to bring your finances back to balance is to look for ways to escape your debt. To understand how your debt is impacting your finances, you’ll need to calculate your Debt-to-Income ratio – or the percentage of your after-tax income that is directed towards repaying your existing debt each month.

A good rule of thumb is that it should be below 28% – or the DTI you need to be able to access financial products such as mortgages.

Ways to reduce your debt include addressing your high-interest debt first or paying off the smallest debt first.

Take On a Side Hustle To Improve Your Income

Although reducing your expenses and debt are important steps to take on your journey towards better financial health, don’t forget that you’ll also need to improve your income. And, to do so, you might need to establish an additional income source.

Luckily, today, you are certainly not short of side hustle options to choose from! For example, you can become an Amazon or FBA seller or sell your own digital products online.

Nonetheless, as the competition gets fiercer by the minute, you’ll need to tap into your entrepreneurial flair to succeed in such a competitive market! In the example above, you’ll need to learn the basics of pricing amazon FBA products, marketing, selling, and customer service skills.

Consider Turning Your Hobby Into a Profitable Activity

If you don’t wish to take on an additional side hustle and add complexity to your already busy schedule, you might consider monetizing your hobbies or pastimes. For example, if you love to draw or bring to life DIY creations, you could sell your art and crafts on marketplaces such as Etsy.

Alternatively, you might use your skills to offer to consult or freelancing services and bulk out your income.

Rent Out Your Property – Or Part of Your Property!

Your home, as well as other real estate properties you own, represent a crucial aspect of your investment portfolio. And, not just because you’ll be able to sell them to free up cash!

Indeed, while you still have your properties, you can use them to boost your monthly earnings. To do so, you might consider renting out one of your apartments or homes on a long-term or short-term basis. For example, becoming an Airbnb host can help you make an additional $924 each month!

Other ways to use your properties to increase your income include:

● List an empty bedroom on Airbnb
● Lease your car
● Advertise on your vehicle
● Rent out your garage or storage room

Build an Emergency Fund

Although you might wish to use your earnings to bulk out your investments or repay your debt, don’t forget about the importance of building an emergency fund. Indeed, a medical emergency, accident, or an unforeseen financial setback can have a catastrophic impact on your finances if you don’t have an emergency fund in place!

If you need a clear goal to focus on, a good rule of thumb is that your emergency fund should be able to cover at least three months’ worth of expenses.

Invest Every Month

Investing, also thanks to compound interest, can help you establish a solid fund to tap into when retiring. But how much should you be investing each month? Ideally, you should dedicate around 15-25% of your post-tax income to investments on a monthly basis.

However, of course, this entirely depends on your circumstances.

Learn How To Use Your Credit Card Properly

Credit cards are essential financial tools that help you keep up with daily expenses, afford major purchases, and leverage exclusive benefits. But, when used improperly, credit cards can become double-edged swords!

Luckily, there are some simple strategies that can help you keep your finances in check even if you use your credit card as your preferred payment method. These include sticking to a low credit utilization rate, making more than the minimum payment each month, only using the credit card for expenses you can afford, and checking your credit card statements for mistakes and inaccuracies.

Work With an Experienced Financial Advisor

Lastly, if you are struggling to resurface from a financial setback, don’t think twice about investing in the services of an experienced financial advisor.

Although this might seem like an unnecessary expense at first, it can help you better understand your financial situation, set clear goals, and devise a plan to reach them within your pre-determined timeframes. And, don’t forget that there is no better time to get started with rebuilding your finances than today!

How To Manage Your Business Fleet

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. If you have a business fleet, you have manage it in an optimal way. The following contributed post is entitled, How To Manage Your Business Fleet.

* * *

While there are some difficulties that come with managing a company’s fleet of vehicles, doing it effectively can help save expenses and boost revenues. Time lost due to vehicle failures, accidents, and driver downtime can be reduced with effective fleet management.

Any time a vehicle is not actively generating revenue for the company, but nevertheless incurs expenses (often substantial ones), it is experiencing downtime. There can be serious effects on cash flow if a vehicle is out of commission for several days or weeks, whether due to an accident or poor fleet management. Furthermore, poor usage of a company’s fleet of vehicles might incur unnecessary expenses. This is why good fleet management is so important. Read on to find out how to do it well.

Photo by Serge Goldfarb

Choose The Right Vehicles

Each organisation is one of a kind and has its own specific requirements. Selecting a commercial fleet is no different. The size and characteristics of your business fleet will be determined by factors such as fuel costs, the availability of electric vehicle charging stations, available space and budget, weather, traffic, and the required driving distance for your personnel.

Street food vendors, mobile pet groomers, and maid services are just a few businesses that could benefit from purchasing just one vehicle or a small number. However, a taxi company, delivery service, or courier may need to buy dozens, if not hundreds, of vehicles. The first step in effective fleet management is making sure your organisation is spending money on the right cars. These are the ones that will truly improve the efficiency of your business and allow it to expand and generate more revenue.

After settling on a fleet of vehicles, the next step is to figure out how to pay for them. They are available for purchase, lease, financing, or full cash payment via a variety of means. You should work with the right person at the right dealership to get the reductions that are available for fleet vehicles.

If you’re a young company looking to avoid cash burn, borrowing or leasing may seem like a reasonable choice, despite the fact that it may be more expensive in the long term. You’ll need to look at your budget and be realistic about what will work now and in the future.

Automate What You Can

Maintaining reliable transportation while keeping costs low is crucial to the success of your company. This can be difficult for small business fleets that rely on antiquated methods of fleet management, such as paper and spreadsheets.

Fleet managers often spend too much time on manual data entry to provide enough control of their vehicles. When you’re trying to keep track of every detail of your fleet, spending time entering data and poring over spreadsheets is a waste of your time. Many smaller fleets are turning to fleet management systems to help them deal with these issues.

The easiest way to streamline data and automate fleet activities is by using fleet management software. You can increase your fleet management efficiency by automating tedious operations using the information gathered from your fleet’s inspections, maintenance, costs, and usage.

The efficiency, longevity, and effectiveness of your fleet’s assets can all be enhanced by automating processes such that all relevant data is uploaded to a single program,

Vehicle Maintenance And Safety

Upkeep and maintenance is also an important factor. It’s obvious that a car that’s in the shop isn’t earning money, thus it’s crucial to practice regular and preventative maintenance to keep it on the road as much as possible and to ensure it’s safe when it is being driven.

Having a well-maintained fleet benefits both the drivers and the general public. However, accidents do happen, and it is part of fleet management to deal with accident reports and repairs. Some methods of handling accidents involve providing training on how to avoid collisions and imposing penalties on careless drivers.

Maintenance and risk management encompasses tire management as well. A fleet can save up to 11 cents per gallon and get an extra 4,700 miles out of their tires if they are properly inflated.

The key is to know which vehicles need to be serviced and when, and to ensure that they are booked into the mechanic’s shop in plenty of time. Not only will this keep the fleet running smoothly, but it will mean you can organize additional vehicles or other means of ensuring your drivers can still do their work.

Provide Good Training

The way your staff operates and maintains the vehicles (or fails to) can have a significant impact on the frequency and expense of necessary repairs and maintenance. It also might aid in decreasing the frequency of accidents and the amount of unnecessary wear and tear on vehicles.

Before letting an employee drive a company fleet car, your company should give them extensive training. This should include your expectations for driver conduct (how they are to drive), health and safety, and vehicle upkeep. Get them started on the car, van, or truck that will see the most use for your company. Maintaining high standards requires having a company policy for vehicle use and providing at least annual refresher training.

As an additional benefit, this training – and other types of training – will help your employee feel valued by you and the company and show them that you are taking their health and safety (and potentially career progression) seriously. This will ensure they remain as loyal as possible for as long as possible, saving you money on recruitment fees and keeping your business running smoothly and professionally.

Know Your Operating Costs

The success of your company can be gauged by looking at the bottom line. When you have a firm grasp of your fleet’s real total cost of ownership (TCO), you can rein in costs and make well-informed choices about its future.

The total cost of ownership (TCO) of your fleet is the most comprehensive measure you can monitor, but estimating operational expenses by hand can lead to a large error margin, which is something your fleet cannot afford.

Both predictable and unpredictable costs can be factored into TCO. In order to keep your finances in order, you should always remember your annual fixed costs, such as insurance and registration fees. Fleet size, fleet type, and fleet efficiency all play a role in how much you may expect to spend on variables.

Fuel and maintenance are the two largest ongoing expenses for fleets. The latter can be handled best by knowing when things need to be done and ensuring not all your vehicles have to be serviced at the same time. When it comes to fuel, these fuel management tips can be very beneficial in helping you save money and make the most of your fleet.

Much like anything else in business, when you know what you’re spending, you can determine whether this is the best use of your money and how you can make things better and more cost-effective.

Disposal And Resale

When your vehicle stops being reliable, it’s time to put it up for sale. Someone has to manage and handle the sales process, regardless of whether they occur through a private party, a dealership, an auction, or amongst employees.

The last thing you want to do at this point is to lose more money than you need to. It’s crucial to understand that you’re not going to get your money back, and that’s true whether you bought the vehicle used or brand-new. However, you can try to minimize the loss as much as possible by ensuring you do all you can to make the vehicle presentable, well-maintained, and that any problems are fixed.