Trump Presidency And The Job Market

President-elect Donald Trump announced that he would run for president nearly 2 years ago. At that time, he promised he would be the best president for jobs that God had ever created. He campaigned on pledges to create more than 500,000 jobs each year, add 25 million jobs over the upcoming decade, and replace our present globalism policy that has moved wealth out of the United States. He said he would instead come up with a policy of Americanism. What does that mean for job hunters looking for VP finance jobs in Chicago or accounting jobs in Los Angeles? Under President-elect Trump’s new American system, will there be more finance jobs in the country, as well as finance jobs with better pay?

New Americanism

President-elect Trump stated that if we can reduce our taxes, get ride of destructive regulations, and tap into the treasure of energy in America, we will see no limit to the jobs that are created and the prosperity that goes around. A Moody’s Analytics’ June 2016 report, however, suggested a different future an American economy under Trump, and we may soon see the report’s predictions coming true. This report described the end of a Trump presidency with the U.S. left with an unemployment rate of 7% and 3.5 million jobs fewer.

Is a Long Recession Coming?

The research branch of Moody’s Analytics went on to say that under the exact scenario Trump laid out for his new America, if all proposed policies become law, our country would suffer from a long recession and our economy would be smaller at the end of his 4 terms than when he took the oath of office. Moody’s argues that Congress would water down Trump’s proposals and the economy wouldn’t suffer as much as it could otherwise, but it would be diminished nonetheless.

Robert Lawrence, Professor at Harvard Kennedy Business School, specializes in international finance and trade, and he says that ending outsourcing to boost America could be an issue under the Trump presidency. He notes Trump’s sports jackets, eyeglass frames, and cufflinks that were made in China. He points to Trump’s shirts that were sourced in Bangladesh. Lawrence wonders whether Trump truly has a plan to keep jobs in the country, and many others are in agreement with Lawrence.

For now, we have the present to work with, and the present scenario in our economy is that finance and accounting jobs are in high demand in the United States. Beacon Resources knows where those jobs are. We will help you find them, and find the good ones that show exceptional promise of long-term career jobs.

Simple Steps to Manage Debt this Year

Accumulating debt is something many people do at some point in their lives. This can be a result of purchasing a house by taking out a mortgage or getting an auto loan to buy a new car. College debt is another increasingly common factor in the US.

Even small purchases can put people into debt. Using any type of credit card to make purchases of any kind can cause debt to accumulate, so anyone with any amount of debt needs to know how to manage it so that it does not get out of control. If a person has too much debt, they may spend more time juggling payments than actually paying them off. A few simple tips can go a long way to help manage your personal finances.

Make a list of what you owe.

This list will include the creditor (like a bank, a mortgage company or other lender), the total owed, required monthly payment, and the date the payment is due. Cross reference the information on your list with a statement or by logging into your account online. Analyze your list every couple of months to see where you are with any particular debts.

Pay your monthly bill on time.

The late fee for missing a payment is easily avoidable and will only add to your existing debt. You will also likely end up with higher interest payments, adding to your debt. Create a reminder or an alert on a tablet or your smartphone of when payments are due. A reminder should be at a few days before the payment is due and not on the due date. Remember to take into account when your payment will be sent and when it will be received. If you are sending a payment on a Friday night, it may not be received until Monday.

Something you may want to do is sync your smartphone and tablet so a reminder or an alert will be displayed on both devices. You may also want to schedule your payments in advance if you have this option.

Create a payment calendar for bills.

If you have certain bills that will be paid at different time of the month, a payment calendar can help to keep you on track and manage personal finances in a simple, organized way. Indicate on your calendar which bills you will need to pay with each paycheck or expected payment. Sometimes due dates for bills can possibly get changed. This might mean you need to try and adjust your payment calendar so that you do not run short of funds.

Pay more than the minimum when you can.

Paying more than the minimum payment for bills like credit cards helps keep your balance in check; if you only make the minimum payment, interest will add to the balance in time. Keep in mind that when you charge more than you pay each month, your debt will grow.

Prioritize your existing debts.

Certain debts need to be paid before others. The debt with the highest priority is typically the payment for a credit card. The credit card with the highest interest rate should be paid first (while still making at least minimum payments on all other cards, of course). A trick you can use to help decrease interest charges is to transfer balances to a lower rate card. This may be a good option for anyone who has multiple credit cards with payments at different times of the month. Another option could include making a payment on a credit card that has the highest balance.

Create an emergency fund.

Unexpected events can happen at any time, and you never know when you might need funds for something unplanned. These events could include getting let go from a job or maybe an accident that has damaged your vehicle. Try putting something like $25 or more every week into an account at any bank or credit union. After a year you will have $1300 to use as an emergency fund. If you keep adding to this fund, you will have a solid cushion for three to six months of living expenses.

Create a monthly budget.

Knowing how to set up a budget is a great way to know what you can spend each month. If this is done at an early age, managing money in the future will become that much easier. The best thing about setting a budget is that any funds left over each month can be saved or even used to make an additional debt payment.

Breathe.

Debt will not go away overnight. But having a system in place and keeping on track will allow you the joy of watching your debt decrease. Once you’re out of debt, it’s important to keep the system going to ensure that you can live without the fear of debt and can eventually achieve the financial freedom that everyone looks for.

 

 

The Beginner’s Guide to Managing Money

There are people that were born to manage money, but for many others it’s a tough task and it can end up causing people’s finances to spiral out of control pretty quickly. Managing money is as simple as you make it, and as soon as you hit that age when your money is your own responsibility, then that’s when you’ll want to get on top of it straight away and learn how to manage it appropriately. There are many tips to follow that will help you manage your money better, and below we’ll look at some of the most important things to consider to ensure you stay financially sound.

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Create a Spreadsheet

Your first step when managing money is to create a spreadsheet on your computer, as it will help you keep track of all of your finances so you’ll be able to see where you are as the months go on. On your spreadsheet, you should have information on your monthly expenditure and any income you receive. Doing this will give you an idea of how much you are spending on things, and you’ll be able to allocate sums of money for whatever you want. You’ll also be able to see how much money you can save, and what you can cut back on in future months to increase your savings. It’s important that you go into as much detail as you can when it comes to expenditure, such as haircuts, gym memberships, takeaways, and many other costly things just so you can keep on top of it all.

Don’t Spend Money On Items That Are Unneeded

Allocating yourself a sum of money every month that will allow you to spend it on what you want is a good start, but as soon as that money is gone, don’t spend any more money on unneeded items. It’s nice to treat yourself to some new designer clothes now and again, but there’s nothing wrong in buying unbranded clothes either. Ask yourself if the item you are looking to buy can be purchased cheaper, or if it is even needed at all. When buying shopping, it’s always wise to have a look at https://7coupons.in/ to see if there are any coupons for the outlets you are shopping in so you can save money on the items you are buying.

Set Yourself Monthly Saving Targets

There is nothing better than earning money and having access to it in your bank whenever you want it, which is why setting monthly saving targets will benefit you greatly. Not only will it benefit you by giving you savings, but it will also make you feel good about yourself knowing you have worked hard to earn every penny. You will quickly realise that budgeting and managing your money efficiently has got you where you are.

The above are just a few of the basic, but most important tips when it comes to managing your money efficiently. You’ll find there are plenty of other tips to follow, and depending on how serious you are about managing your money will depend on which tips you take advantage of. Keep your money management simple, and you will find your credit report will benefit from it in the long run.

6 ways to save money for your small business

In today’s economy, all successful small businesses are looking for any and every way to lower costs for the business.  Many small business owners fail to dedicate enough attention to this because they are spending the majority of their time doing what they do best, which is run their business.  If you are a business owner who is like this, it may be wise of you to assign an employee to examine all expenditures at your business.  There are many ways in which a business can save money.  Here are 6 ways most business owners can save money for their cherished investment.

Hire smart, inexperienced people.

That is right I said hire inexperienced people.  Experience is not the only thing of value someone can bring to your organization.  Experience certainly costs more. One way to do this is the next time you put up a job ad, eliminate any mention of how many year’s experience someone must have to apply for this job.  Replace it with “Recent graduates welcome to apply.” Some businesses have used this approach to success and hired candidates fresh out of college or graduate school.  This allows your business to gain a monetary advantage by providing an entry-level salary and can benefit you by having employees who are up-to-date on the latest technology.

Make sure your business is classified properly.

This is most important for purposes of Workers Compensation Insurance. Many industries have several different classification codes because the industries have several different types of businesses with different levels of risk.  The different levels of risk are reflected in the price businesses pay in premium.  Landscaping is a great example of an industry with many classification codes. Some companies simply mow lawns, other companies plant and maintain sod, others climb into trees with chainsaws to cut limbs and branches.  Each type of business has a different classification code and each level of risk pays a different price in premium.  Taking a little time to speak with your insurance agent about what exactly it is that your business does and does not do can save your business significantly in premium paid for workers’ comp insurance.

Try bartering with other businesses

Bartering is one thing successful small businesses are usually great at.  Especially bartering with other businesses.  Bartering might seem old-school but it can definitely be effective. Catering companies and coffee shops frequently work with companies, especially start-ups.  If you have something of value to provide them they may be willing to cater an event of yours for free or at an extremely discounted rate.  Actually, the possibilities are endless as long as you proactively establish relationships with other local businesses who can benefit from your services.

Switch banks

It should be no surprise that banks are looking to squeeze more revenue any way in which they can.  Banks after all are a business too and they need to turn a profit.  There is one fact many people and business owners fail to realize in relation to financial institutions: they are a business as well and they have to pay turn a profit in order to continue providing you the services they provide.   partner.  The industry is necessary for success in both your personal and professional life.  Switching financial institutions frequently is not a great idea, but shopping around to ensure your bank is competitive with other banks in your area is in the best interest of your small business.  If you can cut significant costs by switching to another bank, then it may be just what you need to do to save your company money.

Invest in a safety and return to work program. 

You might be wondering why I am telling you to invest in something as a way to save your business money.  Especially investing in something like a safety program. Healthy employees are happy employees and happy employees are productive employees.  Investing just a little time in an effective safety program can save your business immensely in lost productivity and insurance premium.  A return to work program is an essential part of any safety program.  The quicker an injured employee gets back on the job and in the routine of going to work, the more likely they are to return to regular employment.    This will prevent your workers compensation insurance premium from increasing from having too many to too severe claims at your business.

Embrace telecommuting.

Telecommuting isn’t possible for all businesses, but you might be surprised how many people can effectively do their jobs from a remote location.  If you can find ways to allow employees to telecommute it can be a huge money-saver for your business. It can cut down on wear and tear to your office space as well as your electronics.  Meaning you will have to replace these devices less frequently.  Many employees appreciate the opportunity to work from home and it may be a benefit you can and to their compensation package instead of a higher salary.

Bio

Walt Capell is the President/Owner of Workers Compensation Shop. Walt started Workers Compensation Shop in 2005. Workers Compensation Shop is a rapidly growing national insurance agency with a strong reputation for forward-thinking, out-of-the-box products and solutions for business owners. Walt would like to use his experience in insurance and as a small business owner to benefit the small business community.

 

To pay debts or to invest? What about both?

There is no sense to once again emphasize how important it is to invest – after all, making your money work for you is a fundamental principle of personal money management. One of the biggest obstacles one may face while deciding to start investing is the debt. In today’s world, it is hardly possible to avoid debts at all – even if you are not going to buy a house or a car, you may still need a student loan or a credit card. Whether to invest or to pay off a debt is actually one of the most common finance-related dilemmas. Isn’t it better just to avoid it, taking into account it will probably never be solved?

Large-scale investments are definitely not a good option for those who are deep in debt. After all, investments are always accompanied with some risk, which is why they may potentially bring to even larger debts. In view of this, it would be much wiser to start with small-scale investments, especially if you don’t have any substantial experience in this field.

What do you know about DRIPS? If you need a precise definition, you may find it here, while in a few words these are dividend reinvestment plans. The main idea is to invest SMALL amounts of money into dividend-paying stocks. In practice this means that you directly purchase stocks from one or a couple of companies, let it be Coca-Cola, Home Depot, GE, etc. (the list is really large), receive dividends and reinvest them. The main thing is to make such reinvestments regularly. This requires commitment and patience – if you have them, time will definitely show your efforts were not in vain.

ETFs, or exchange traded funds, are another option. These are financial products that track the performance of a certain sector (like indices, commodities, bonds, or baskets of assets) of the investment market. Depending on its type, to buy only one share of an ETF through a broker may be enough to track the performance of the total bond or stock market. Besides, depending on the underlying assets your ETF owns, you may receive dividends (if these are stocks), money from interest income (if this is a bond fund) or property-related income (if the ETF has made an investment into real estate). The Vanguard Group, one of the largest investment management companies in the US, would be a good place to begin.

Finally, the third variant is online trading – in case you choose an appropriate approach, the returns may be indeed high and quick. It’s better to remember, however, that this method of income generation is quite risky, which is why risk management should become your highest priority. In view of this, special attention should be paid to high frequency trading – its biggest advantage is that you ALWAYS know how may you may gain or lose, which means that risks always remain under control. Apart from this, stakes may be as small as $25, which is very essential in case you are in debts. Where to find high frequency trading broker? Founded in 1983, Glenmore Investments may become a perfect start.

You think you don’t have money even to start? This is actually an excuse, but not a fact. If you start saving on morning coffee in Starbucks or fast food, you will see that the situation is not that tragic. So trust in yourself and don’t give up!

Unravel The Hold Your Debts Have On You With These Tips

There may come a time in your life where you are no longer able to keep up on the same financial path that you have been on. Maybe you technically can keep paying all of those debts but why would you want to do that forever? If you are ready to make a change and live without an abundance of debt hanging over your head, then you will want to consider the following tips.

When To Pay Off A Debt

If you have a large supply of extra funds and it would not hinder your day to day living right now, then you could just call all of your creditors, ask for the payoff amount for your loan, and pay it off. However, if that is not an option for you, then you need to go slowly. First, if you can, try to worry about paying off your debts one at a time and do not start to make these arrangements until you are free from seasonal obligations. For example, in good faith, you may make payoff arrangements with a credit agency three weeks before Christmas, but the holiday pressure might get to you and you could fail to meet your obligation.

What To Do When You Can’t Pay Your Debts

After sitting down to calculate your total bring-home income each month and the amount of your monthly expenses, you find that you are simply unable to crawl out of this financial hole on your own, you may want to consider something such as a California bankruptcy filing.

You will need to sit down with a quality bankruptcy attorney to discuss whether you qualify for a Chapter 13 or Chapter 7 bankruptcy. With the Chapter 13, you have a sufficient amount of income that would be deemed necessary to repay your debts under a payment plan created and protected by the bankruptcy courts. If you are too bad off financially, you may find that you quality for a Chapter 7 bankruptcy.

How To Prevent This From Happening Again

Once you get your debs under control, you will need to begin the planning phase so you never find yourself in this position ever again. A great way to improve your chances of being financially sound would be to set up an emergency fund and have at least a thousand dollars in it. This way, should a major appliance break or your furnace needs repaired in the middle of a cold winter, you will not have to worry about turning back to personal loans or credit cards to get the job done. The more you save in your emergency fund, the better off you will be.

Getting Professional Assistance

Should you find that you are continuing to have an on-going problem with debt, even after trying the previously mentioned tips, you will want to speak to a professional financial advisor. According to the Financial Planning Association, a financial advisor can help you set realistic goals, creates a comprehensive financial plan, and will help you adjust those goals and plans along the way as needed. There is a lot that can be learned from someone who has made financial planning their career.

While you may stumble across additional useful tips on your journey to financial freedom, this is certainly going to give you the best head start you could ask for. Before you know it, you will be free of the shackles your debts had placed on you and you will experience a sense of freedom that only comes from having a debt free life.

Why You Should Consider a Career in Accounting

Accounting is a field that offers financial opportunity as well as growth in your career.  For those entering college and deciding what major to pursue, accounting may well be on the list. Those already in school (or in their career) may be thinking of entering a new field that provides more financial freedom or exercises strengths you have not been able to use.  In either case, accounting has many benefits beyond the crunching of numbers.  Here are some of the many reasons you should consider a career in accounting.

  1. Demand is High. Accountants are always wanted.  Every company, government, non-profit, and individual needs some sort of accounting.  Often, they will need to hire an accountant to do that for them.  An accountant’s expertise is always necessary to keep a company running smoothly and ethically.  Also, consider this:  because you are already in-demand, you will be able to take your skill set wherever you go.  Becoming an accountant means that you can move just about anywhere.  It does not matter the state of the economy—in high times and low times, you will always be essential.
  2. Accountants—especially private accountants—enjoy a high level of job stability.  If you decide to be a private accountant, you will often work regular hours in a facility and perhaps in your own office.  You will often specialize solely in the company’s product or service and its capacity to earn profit.  Therefore, you will not have to learn from the ground up with every client; you can instead build knowledge within your own niche.  Like travel?  Public accountants will have the opportunity to be paid to travel more so than private accountants.  You may work with clients across the country or across the world that will allow you
  3. Great Salary Prospects. One of the biggest reasons people become accountants is for the impressive salary.  Because accountants are always in-demand, companies offer competitive rates.  Those interested in accounting will receive, over time, a drastic increase in salary due to experience and promotion.  According to salary.com, the national average entry-level salary is about $48,000, with the potential to grow into the hundreds of thousands over time depending on position and experience.  This is no doubt appealing to anyone looking make more money and live a lifestyle suitable to their needs.
  4. Use Your Skills. If you want a career in accounting, you need to seriously assess your natural talents.  You will undoubtedly need to be detail-oriented, analytical, and highly organized.  In addition, you must be an effective communicator.  You may often have the task of breaking down complex financial scenarios into easily digestible information.  Being an effective communicator also means building relations with other people—especially if you strive to be in a leadership position.  While some accountants, such as private ones, may have more solitary time in an office, there will be many times you will still need to create and strengthen solidarity with others.  Consider whether these are innate talents you have, or whether you can properly develop them.
  5. Accounting positions allow you to learn a wide breadth of information; the amount of knowledge and expertise is only as limited as the company you work for.  Working for the government may teach you a lot about the government structure, process, and law, while a non-profit may teach you more about cancer research or disadvantaged third world countries.  Working in accounting is just one way to have a variety of experiences and meet various people.
  6. The Education is Worth it. The road to becoming an accountant is by no means easy.  You will have to go through rigorous education, with most people gaining not only a bachelor’s, but also a master’s degree in accounting or even a doctoral degree.  You will also have to gain a lot of experience at an established firm to gain credibility.  The most trying of all of these is obtaining the correct certificate.  As a public accountant, you will have to get a CPA.  In order to do this, you must dedicate yourself to months of studying.  Luckily, there are many reputable resources to help you.  Make sure you invest in the best CPA review course to suit your educational needs.  In the end, many accountants believe that the hours of studying are worth the pay off.