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Should You Get Your Family Involved in Your Business?

Should You Get Your Family Involved in Your Business? family business

When you ponder situations where people have a family business, you might automatically picture farms. Or, maybe you picture small shops that have been in the family for generations in a large city such as New York. Likely the reason your thoughts travel to these scenarios is due, at least in part, to what you have seen on TV. But reality can be very different from what is portrayed on television. Although I happen to come from a family farm, not every family business is run by parents who hire their kids to help. Some family businesses are owned by a Grandparent, aunt, uncle, or even a child who has hired a parent. But when it comes to business and family becoming mixed, things can get weird. We all know that money and family can create tension, stress, or hard feelings, and the same can happen with a family business. So, before you decide to get your family involved in your business, make sure you consider all the pros and cons of paying your family (or kids) to help in you business. Pros of Paying Family for Helping Your Business: Tax Benefits Of course, some people who hire their children ...

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How to Start Your Financial Future Out on the Right Foot – Part Deux

Financial Future

Last time we talked about starting out your financial future when embarking on adulthood. This is a crucial time in anyone’s life because the decisions that you make during early adulthood can really make or break your future financially. We broke down the two biggies in the last article: cash and credit. In this article, we are going to dive into your credit score and debit cards. So let’s jump in! Benefits of Increasing Your Credit Score If you are putting things on credit and not paying off your monthly balance, then you are directly affecting your credit score NEGATIVELY. This is the opposite of what you want to do because your credit score can impact more than you think it can. On the flip side, if you pay your credit card off every month, you are only INCREASING your credit score. The bonus here is that the higher your credit score, the more you qualify for big purchases in the future. Two of these biggies are cars and houses, with a smaller third possibility at business loans and/or credit cards to start a business. Some employers and rental companies even look at your credit score as an indicator of ...

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Ways to Boost the Value of Your Financial Portfolio

Traditional investments tend to arouse the ire of many novice investors. For one thing, they are complicated, and there are often many hidden fees and commissions involved. Newcomers to the scene tend to feel a little intimidated by the financial gobbledygook that accompanies these types of investments. Financial investments cover 4 broad categories of assets: stocks, commodities, indices, and currency pairs. Within each of those classes are hundreds of viable propositions. The trick when it comes to building a viable financial portfolio is knowing where your bread is buttered. In other words, start with what you know, and branch outwards. 1.    Shop around for the best trading and investment platform Granted, there are a myriad of options available to you when it comes to investing your money. Which one is ideally suited to your needs? This is a question that is best answered with a little introspection. As a novice trader, you may be well served with a trading platform offering full mobile functionality for on the go trading, a demo trading account, low minimum deposits, and low minimum trade amounts. There are many possibilities available to you in this realm. It is imperative that traders stick with fully licensed ...

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How to Start Your Financial Future Out on the Right Foot

Financial Freedom

  So, you’ve graduated high school and are embarking upon your wide open future. Going to college is an exciting time for most. But, it can also be a huge stepping stone with your financial future. College is the time that most people are first on their own financially, at least partially, and get their first credit card. So what is the best way to handle all of this newfound freedom and secure your financial future at the same time? Cash I know that the saying is “Cash is King,” and it still is for the most part. The reason for this saying is because when you are paying for something with cash, it doesn’t affect your credit and therefore your financial future in any way, shape or form. If you pay for things with cash, you don’t have to worry about getting authorization from a bank. You just pull out your wallet and call it a day. Cash is one of those things that is pretty easy for a college student to make because there are plenty of jobs, and side hustles, that pay straight cash. Here are a few examples, some that I personally embarked upon to make ...

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Forex Market Investment Opportunities and Advantages

Forex trading looks extremely appealing to many people, as it is one of the largest markets with many advantages. However, trading always applies not only to profit but also to some risks. Therefore, it is a good idea to weigh all pros and cons before taking advantage of investment opportunities. Forex market is famous for its size and high liquidity. Thus, traders are able to earn a large amount of money without impacting the exchange rate. The majority of brokers allow users to trade with extremely low margins so that traders have an opportunity to take essential positions in the fx trading without much money. Forex Market is Extremely Beneficial Place for Speculators   There is a wide range of speculators in the Forex Market, as one does not need to invest a small amount of money, and earn a lot. For example, if you deposit $1000, you have an opportunity to receive approximately $100,000. As a result, you can get a significant profit without much risk. However, it will be wrong to exclude all the risks, as this market is sensible to changes, and you can lose the essential sum of money if you conduct the trade “randomly”. Thus, ...

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