Discounted advisors are like cheap clothes, they look good in the store and then they fall apart after one wash aka a market crash. Years ago, I sat across from a then retired financial advisor who was questioning the fact that I never discount the price of what I do for clients. I asked him why he did discount the advisory fee. He said that it was more competitive. But … [Read more...]
PPP Loan Forgiveness – What Your Business Needs to Know
The U.S. Small Business Administration (SBA) Payroll Protection Program (PPP) served as a lifeline for small business owners facing hardships from the COVID-19 pandemic. The funds can be used toward eligible business expenses such as payroll, mortgage interest, rent, and utilities. The program closed on August 8th, 2020, and is no longer accepting applications. New guidance … [Read more...]
Credit Discrimination – What You Can Do To Protect Yourself
Credit discrimination is the act in which a creditor prevents access to loans, credit cards, mortgages, or other types of financing based on a person's race, color, sex, national origin, religion, marital status, age, source of income, and other “protected classes.” This practice is illegal, and a creditor cannot prevent access to financing, refuse an application, close an … [Read more...]
Will the Next Stimulus Package be Enough to Help Women and Minority Owned Businesses?
On Monday July 27, 2020, the U.S. Senate Republicans proposed a new stimulus package for eligible Americans. The GOP proposal will be called the Health, Economic Assistance, Liability Protection and Schools Act (HEALS Act). Though the existing programs and pending proposals under the HEALS Act have been helpful to struggling small business owners, was there enough done by the … [Read more...]
3 Financial Concerns Every Breadwinning Woman Should Have
As women continue to push through gender constraints within the workplace, many are breaking through the glass ceiling to reach powerful positions within companies -- and often with a salary to match. While, admittedly, an income gap problem remains to be solved, this doesn't change the fact that women are now significant contributors to household incomes. In fact, over half … [Read more...]
13 Financial Mistakes You Could be Making While Freelancing or Managing Your Small Business
Being an entrepreneur means wearing many hats. Most of us start with a creative passion or deep expertise in a certain area and have to learn the rest as we go. Most of us are making small mistakes along the way without noticing, and sometimes these pesky little mistakes add up to larger costs in the long-run. Here are a few of the mistakes I’ve made, and corrected, since … [Read more...]
Don’t Underestimate the Value of Accurate Financial Reporting
If a business ever needs a loan, line, lease, partner, or an investor, financial statements will be requested (in addition to a pull of their business and/or personal credit scores and history). This information is used to determine risk and whether the business has enough resources available to manage and pay back a loan. Here’s the problem: most small business owners have … [Read more...]
How to be More Money Confident
Ever wished you could be more confident about money and all that it entails: not being afraid to ask for more pay if you deserve it or standing your ground when clients try and beat down your prices? I've spent the last few months talking to women in financial careers about their own money knowledge and confidence, and now, I want to bring that to the wider world by sharing … [Read more...]
7 Deadly Financial Management Mistakes – Infographic
Financial management is a challenge for many small business owners. However, ineffective financial management can have a direct, negative impact on your bottom-line and your ability to grow profits in the future. It's imperative that you prioritize financial management for your business. According to an infographic from Intacct (shown at the end of this article), there are … [Read more...]
SEC 2014 Examination Priorities Announced
The Securities and Exchange Commission (SEC) has announced its 2014 examination priorities based on both internal and external communications, data, tips, complaints, referrals, and more. These are the areas the SEC will examine throughout the year because they have been flagged as areas with heightened risk, but they could be modified as needed. For 2014, the following … [Read more...]