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How to Save More in 2019

Linda Weathers • Jan 17, 2019

Many people in their retirement years have regrets about not saving more during their earning years, but you don’t have to be one of them. All you need to do is be realistic and proactive about saving. It’s all about paying your future self.    

Circumstances can arise that can erode savings you hoped would be there for retirement. Some of those events include not being able to work due to poor health or a bad job market, unanticipated hospital bills, a divorce, overestimating Social Security benefits, bad investments, procrastination, and simply not realizing how much you need to live on. 

The good news is you can prevent future regrets by making a strong savings plan now. As a small business owner, you may not have a retirement plan, so it’s essential that you create one for yourself. You earn an income today. Put some of that income toward paying your future self, and pay that “bill” first each month or each paycheck. 

To be proactive and build as much savings as possible, take these steps:

  1. Increase your financial skills by learning how to fund your retirement, including all that traveling you’d like to do.
  2. Take care to manage your investment risk and be realistic about investment returns. In good markets, purchase rather than rent or lease so you are building an asset.
  3. Put as much aside as you can, and try living just below your means.
  4. If you do have periods where you are out of work, try living frugally until your income is back to normal.
  5. Optimize your business profits and apply some of them to your savings plan.
  6. Minimize taxes where possible so you can keep more of what you make.
  7. Make everything work twice as hard for you:
    1. Get credit cards with loyalty programs.
    2. Sign up for frequent customer programs to earn points.
    3. Make sure your bank is giving you the best deal on interest.
  8. Sell unused belongings on eBay and put the money in savings.
  9. Cancel used subscriptions and memberships for both your personal and business needs and move the saved money to savings.
  10. Periodically reach out to vendors to get a better deal on the expenses you incur. This could be for phone plans, utilities, and any other routine expense. Put the difference saved in savings.
  11. Select cars and trucks with good gas mileage and also high resale value. Consider that using Lyft or Uber may be cheaper than maintaining a car, depending on how much you drive.  Put the difference in savings.

There are hundreds more ways to save more, and these will get you started in the right direction for 2019.

Five Summertime Strategies for 2023

By Linda Weathers • 15 Jun, 2023
We’re six days away from the first day of summer, and a few weeks away from the midpoint of the year. It’s the perfect time for taking a strategy check in your business to see how you’re doing for the first half of 2023 as well as to plan something fun and productive for summertime.   […] The post Five Summertime Strategies for 2023 first appeared on .

Five Summertime Strategies for 2023

By Linda Weathers • 12 Jun, 2023
We’re six days away from the first day of summer, and a few weeks away from the midpoint of the year. It’s the perfect time for taking a strategy check in your business to see how you’re doing for the first half of 2023 as well as to plan something fun and productive for summertime.   […] The post Five Summertime Strategies for 2023 first appeared on .

Cool Tech Tools: ChatGPT

By Linda Weathers • 05 Jun, 2023
The topic of artificial intelligence (AI) has been in the news quite a bit recently, and one of the reasons is the launch of an AI chatbot called ChatGPT. The GPT in ChatGPT stands for generative pre-trained transformer, which is a program that can realistically write like a human and interact in a conversational way. […] The post Cool Tech Tools: ChatGPT first appeared on .

Cool Tech Tools: ChatGPT

By Linda Weathers • 01 Jun, 2023
The topic of artificial intelligence (AI) has been in the news quite a bit recently, and one of the reasons is the launch of an AI chatbot called ChatGPT. The GPT in ChatGPT stands for generative pre-trained transformer, which is a program that can realistically write like a human and interact in a conversational way. […] The post Cool Tech Tools: ChatGPT first appeared on .

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In the last few years, the shortage of accounting professionals has grown tremendously, and many business owners are struggling to find reputable, quality accounting services. Prices for accounting services may have gone up due to this supply/demand imbalance, and they will keep going up for years to come– due to the shortage in accounting graduates […] The post 5 Ways to an Accountant’s Heart first appeared on .

Don’t Shortchange Yourself: What an Entrepreneur’s Pay Should Cover

By Linda Weathers • 28 Apr, 2023
Being in business means taking a lot of risks, especially financially, and as an entrepreneur, you deserve to be rewarded for those risks. Your pay is just one of the many benefits of your self-employment. But it’s not like the pay you get as an employee; it needs to be more comprehensive than that.   Getting […] The post Don’t Shortchange Yourself: What an Entrepreneur’s Pay Should Cover first appeared on .

1099-K Reporting Changes

By Linda Weathers • 20 Apr, 2023
For taxpayers collecting payments through a third-party payment platform (such as PayPal), the American Rescue Plan Act (the “Act”) established a major change to tax reporting rules to prevent businesses and contractors from hiding income through the receipt of electronic payments. Form 1099-K is the tax form issued by credit card companies and third-party payment […] The post 1099-K Reporting Changes first appeared on .

Cool Tech Tools: Drones

By Linda Weathers • 20 Apr, 2023
Drones were considered fun when they first came out, but they are far from toys. Drones have surprising benefits with extremely high return on investment to certain business owners. A drone is a robot that can fly and that is controlled by a remote device. The technology includes GPS (global positioning system) and built-in sensors. […] The post Cool Tech Tools: Drones first appeared on .

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By Linda Weathers • 06 Apr, 2023
While spring brings a change in the weather for most locations, it also brings a number of opportunities to refresh your products and services. Spring is a great time to boost your marketing campaigns so that you can boost your business revenues. Adding the theme of spring to your marketing campaigns allows customers to see […] The post 6 Ideas to Put the Spring into Your Spring Revenue first appeared on .

Do You Need a Business Savings Account?

By Linda Weathers • 23 Mar, 2023
If you have accumulated more money in your business checking account than you really need for daily operating expenses, that is a nice problem to have! It’s time to consider putting that money to work. A business savings account might be your answer. Every bank is different when it comes to the features and benefits […] The post Do You Need a Business Savings Account? first appeared on .
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