Mompreneur Special: Why Is Working Capital Important

Did you know lack of capital is the second most common cause of small business failure? About 29 percent of small businesses fail because they run out of money! As a business owner, you’re certainly taking every measure to give your enterprise the best chance of succeeding. This involves ensuring you have adequate working capital at all times. If you’ve never come across this term, you’re probably asking, “Why is working capital important?” Well, it could be the one thing that keeps your … [Read more...]

A Step by Step Guide to Framing Financial Strategy For Your Business

The financial structure of a business is what gives a business direction. It dictates whether a business can spend on a certain asset, how much it can spend, and also how much profit it can bring in. Needless to say, the integrity of this structure has to be intact for a business to succeed long-term. This process of maintaining a sound business financial structure is known as financial health. However, the mistake that most people make is generalizing this term and ignoring specific details … [Read more...]

3 Essential Financial Tips for Startup Restaurants

There aren’t a lot of things that are more satisfying and rewarding than running a successful restaurant. After all, not only are they potentially lucrative business endeavors to pursue, but they also offer plenty of room for creativity. But don’t be fooled: getting the desired results in these types of ventures is by no means an easy task, especially when you consider how competitive the industry is as well as the fact that there are no guarantees in the food and service business. But even … [Read more...]

Personal Finance – Budgeting Cheat Sheet

For many people, managing finances is difficult. Many have debt such as student loans or car payments they need to satisfy, which can easily leave a burden when it comes to managing with daily expenses. The best way to effectively manage your money is to rely on a good budgeting cheat sheet. Here are some tips that can help. Go Through Your Financial Obligations First and foremost, it’s important to sit down and go through all your bills. There are those you are responsible for monthly, … [Read more...]

Teaching Kids Personal Finance From A Young Age

Teaching children about financial literacy inevitably falls on the parents' shoulders in many cases. While some schools are now offering small lessons covering personal finance topics, many are not. The ability to properly manage spending, to regularly save money and to otherwise manage funds intelligently is essential for lifelong financial security. Without structured lessons about personal finance, children often learn about money by watching how their parents manage the family's funds. This … [Read more...]

3 Financial Tips for New Families

New reports find that nearly 51 million US households don’t earn enough to afford a monthly budget to cover food, housing, healthcare, and transportation. That is unfortunate. That’s why those who can save should be doing everything they can to do so. This is especially true for new families. Here are a few financial tips to help you get started. Set aside emergency money “One of the reasons people do not have emergency funds is misplaced optimism. People think that if they are healthy, … [Read more...]