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by Hal Salazar

Lots of stay-at-home parents choose to work from home to make extra money or support a frugal lifestyle. However, not everyone wants to run an eCommerce business selling products. Fortunately, parents have many small-business options beyond online sales—and you can run them from a home office.

Determining Business Structure

Decide what business structure is best for your company before you begin. Forming an S Corporation offers several benefits, including self-employment tax savings and pass-through taxation. Business owners can also opt to claim losses as tax deductions through an S Corp.

You might not have a budget for high lawyer fees right away. You can avoid them by filing for an S Corp yourself or using a formation service. Before you form an S Corp, review your state's rules.

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Going Back to School

You may decide getting a degree will make your business more marketable. If so, you can consider taking classes online or signing up for in-person times that work around your family's schedule. One online degree option is cybersecurity. If you decide to earn a cybersecurity degree online, you’ll be well-equipped for potential remote opportunities in the field. It teaches you:

 •    Best practices in services and systems
 •    Scripting and programming
 •    Networking and security
 •    Data management
 •    The business of information technology

You can also consider degrees in business, accounting, marketing or others that boost your entrepreneurial skills.

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Choosing a Career

Once you've ironed out the business details, it's time for the fun part: to decide what career path you want to take.

Tutoring is a great work-from-home option. You can tutor students at your house, travel to their homes, or offer virtual services. Start by defining your client base: only high-school students, for example, or a particular subject such as science. You can take on a couple of students to start or branch into full-time work.

Photography is a versatile and creative career choice. Decades ago, photographers needed a darkroom setup and studio, but today you have more flexibility. You can go on location to photo sessions and complete your photos digitally. You may need to invest in high-quality cameras and digital equipment or take photography classes to get started.

Pet care is an excellent option for animal lovers. You can adapt the business to fit your schedule and accommodations. You can operate a grooming business, for example, from your home or offer a mobile service. If you have the space, you can board pets overnight at your house or travel to clients' homes to care for them.

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Other Career Options

Graphic design is another career that's possible to do from home. You can work as a freelancer, allowing you to create a flexible schedule. Graphic design encompasses printed and digital pieces: newsletters, posters, brochures, signage, websites and social media advertising. You'll need a dependable computer to run design programs that require lots of memory. You may also need a high-quality printer and scanner.

Are you fluent in other languages? Consider starting a translation service. According to job experts, the employment of interpreters and translatorsis expected to grow 20% over the next several years. Your upfront costs may include a computer, internet connection, printer and current reference materials. Your target market can be global, and you can work in various medical, legal and technical industries.

Fortunately for stay-at-home parents, business opportunities are more varied than ever. Once you've determined your business structure, gone back to school and set up your company, it's up to you to reap the benefits.

Photo Credit: Pexels

by Hal Salazar

At some point in time, your senior loved one may need some help with their finances. If your parent starts to have memory issues, it could negatively impact their financial health. According to the National Council on Aging, more than 51% of senior households have debt, an increase since 1992. Here are signs you may need to step in and help.

Excessive Spending
One of the first clues your senior parent may be struggling with finances is compulsive spending. If they are suddenly buying a lot of new items, such as new electronics, furniture, clothes, or gifts for the grandchildren, they may have a problem.

Forgotten Purchases
Some seniors with memory problems may have items they don’t even remember buying. Forgotten purchases may be a sign of a bigger issue where your parent or loved one doesn’t have control over their finances.

Bill Collectors
People in dire financial straits may also have numerous bill collectors contacting them. Pay attention to see if there are frequent calls to your loved one from debt collectors or unopened mail. You can help your loved one manage calls from debt collectors if this is an issue.

Memory Issues
Another sign of a potential problem is if you notice memory issues or dementia. Your senior parent or loved one may repeat the same story to you multiple times, misplace important items or demonstrate unusual behavior during their daily routine.

Organizing Their Finances
If you notice some of these problems with your parent or loved one, there are things you can do to help. Start by looking at their accounts and organizing their finances. Get access to their bank accounts, credit cards, and retirement accounts to help control any excessive spending and prevent them from racking up debt. Here's some frugal strategies to reorganize your loved one’s finances.

Photo Credit: Pexels

Understanding Their Insurance and Benefits
You also need to understand how your loved one’s health insurance coverage and Medicare benefits work. Locate any insurance policies and talk to the plan administrator to get information about what services are covered and which providers take your relative’s insurance.

Avoiding Scams
Older people with memory problems may also fall for scams and lose money from phishing, romance scams or other types of fraud online. Inform your senior loved one about typical online scams or help monitor their devices and accounts to spot signs of fraud.

Getting Power of Attorney
It may also be time for you or another responsible relative to get power of attorney over your aging parent. If you have power of attorney for your senior relative, you may be able to take control of their financial accounts.

Moving to a Senior Community
Another option is moving your relative to a senior community if they shouldn’t live alone. Tour different communities for retired people, such as 55+ neighborhoods or assisted living apartments.   Purge as many items as possible to downsize and work with a real estate agent to sell your relative’s home for a profit. Calculate the value with a home proceeds calculator to see how much cash your loved one could get from their property.

Transitioning to a Nursing Facility
For 24-hour care, consider a skilled nursing facility, especially with memory issues or physical ailments. Online, you can find informative reports about the facility, costs, payment options, and reviews from other families for all of the nursing homes in your city.

Aging parents or relatives can struggle with financial decisions. If you want to help, keep an eye out for key signs of trouble and take action.

Hal Salazar is a regular contributor for The Frugal Lifestyle. He has written several great articles on how to live a frugal yet richer life. Hal is newly retired, and as he embarked on planning and preparing for his golden years, he realized there was a lot of information to keep up with so he started gathering it all and created Elders.Today to lend a helping hand to other seniors via carefully curated resources. When Hal isn’t working on Elders.Today, he enjoys walking at his local park, testing out new recipes with his wife, Marlene, and playing piano.

 
The last HOT days of summer are here! Why not enjoy the rest of this summer season by indulging in some fun and free summertime activities during the Labor Day holiday weekend. Labor Day is seen as the unofficial end of summer. Although the Fall/Autumn season doesn't actually begin until September 22 - some of the hottest days of the year occur in September (we are experiencing a heat wave now, with temps way above 100 degrees - yikes)! So go ahead - celebrate, stay cool & hydrated, relax, enjoy the long Labor Day weekend with these frugal and fun ideas!

1. The Beach or Pool or Lake - If you are lucky enough to live within driving distance to a beach (or any body of water), take advantage as much as you can before the end of summer. Go early to avoid the crowds and to find a good parking spot (for free of course!) Pack some essentials - such as food, drinks, reading materials, sunglasses, beach chairs, towels, etc.. and just relax.
2. Street Fairs - Check online for local summer fairs in nearby towns or cities. Admission is usually free and there are always lots to see and taste. We recently went to a local street fair. We didn't buy anything, but many vendors offered free samples. It's a fun way to spend the day and a great way to walk off your lunch (and kettle corn)!!
3. Summer Concerts - Many local communities still offer free outdoor summer concerts. This is a fabulous way to enjoy your city's music scene and learn about new bands and hear great music. Check your local listings throughout the summer and maybe even into the fall season in some states.
4. Stroll Old Town - This is one of my favorite things to do, in any season! Most areas have a downtown or old town with quaint local stores (vs. chain stores). Leisurely stroll and stop in at the shops and maybe grab a little bite to eat at one of the cozy cafes. I enjoy checking out little antique shops. This is a great way to discover little gems for one-of-a-kind treasures.
5. Farmers Markets - Hit your local farmers market early so you get the freshest produce. Support local growers (vs. big box supermarkets), often times they are cheaper and offer a much better quality. Most vendors offer samples too! You can also shop for healthier organic options. Make a shopping list of items you might need ahead of time, so you won't overspend.
6. Scenic Drives - Go a little off the beaten path to areas where you normally wouldn't drive to. Make sure it's not too far so you won't waste money on gas. Map out your destination ahead of time. Make sure to stop when you can to take in the sights.
7. Picnics At The Park - Pack a light picnic lunch and drive (or walk) to your favorite park. Pick a quiet, shaded spot and enjoy your meal. Bring some music or reading material if you plan to go by yourself.
8. Explore New Neighborhoods - This is a great way to feel like you are on vacation exploring a new neighborhood in another state or country! Pick a neighborhood, park your car, then meander around their downtown or residential area. I love walking around quaint residential streets with beautiful homes, I get inspirations on how I can improve my own home's curb appeal.
9. Flea Markets - One of my favorite destinations to browse & shop for treasures! There are several flea markets or swap meets happening every Sunday. I usually find unique, one-of-a-kind gifts or something for myself for dirt cheap. Don't be afraid to negotiate with the vendor. Most of them would rather sell the item(s) vs. take it back home with them.
10. Go To The Museum or Zoo - Most communities offer "free to the public" admission days. Call your local zoo or museum ahead of time and take advantage of these great local attractions.

Remember to stay cool and not get overheated. Stay hydrated by drinking lots of pure drinking water. Enjoy the rest of the summer days until we welcome the autumn season.

     

     

Source: Unsplash

by Hal Salazar

As an artist, your priority is always your creative ambitions. Unfortunately, even though you are good at what you do, working as a dancer or actor is not always consistent work. If you need a little extra help, then it may be time to find a side hustle. There are many different jobs that you can do on a part-time basis that will still allow you to focus on your art. Here are some ideas for side hustles you can try to stay afloat financially.

Great Side Gigs for Artists

When it comes time to find a side gig, just remember that you don’t necessarily have to find a job that is the complete opposite of your passion. Instead, you can find work that you enjoy. For instance, if you love to paint and sculpt, then you could become an art teacher either in person or online. You can either focus exclusively on teaching or supplement your income by selling books and supplies that your students will need to succeed in your class.

Side gigs are especially helpful for actors and dancers who may need to be available at a moment’s notice to go to auditions for acting/dancing jobs that can come out of nowhere. If you are a dancer, a great side gig might be working as a personal trainer. Since you likely need to keep your body in peak shape, this could be the perfect job. If you’re an actor, you might also consider working as a bartender or server at night. That way you can be available to do film and TV shoots during the day. If you dance or act, you could also teach classes to people who want to learn the arts.

Source: Unsplash

If Your Side Gig Turns Into a Business

Even though you might find a side gig as a way to earn extra money here and there, you never know when a part-time job can turn into a full-fledged business. If you find that your brand is growing and you are getting more work and clients, then it may be time to bring this endeavor to the next level.

To help move things along, you will want to market your business, and an easy way to do that is by creating your own personal logo that you can put on business cards and your website. You have the option to hire a professional designer to make this logo, but if you want to cut costs, then you can use a free logo maker.

In order for your business to be a success, you need to ensure that you are being paid correctly by customers, and a good way to do that is by sending out detailed invoices that are easy to use. You can turn to an invoice generator which allows you to create your own custom invoices with your own font and design that will clearly state how much money is owed and how those payments can be made.

How to Find Side Gigs

Some people want a side gig but they don’t know where to start. The good news is that there are many tactics you can try, including inquiring about dance or acting classes, searching online for side gigs at sites like Craigslist and Facebook community groups, and looking on standard job sites. Once you find a job that interests you, apply or reach out to the company to see how you can join their organization. When you do, let them know that you are an actor or dancer and that you will need a flexible schedule.

As you can see, there are plenty of side gigs that you can pick up as a working actor, dancer, or artist. Consider the advice mentioned here and you can make money while still doing what you love. And if you plan on turning your side gig into a business, make sure to prioritize marketing and to have an effective invoicing process in place.

Source: Unsplash

About the author:

Hal Salazar is a regular contributor for The Frugal Lifestyle. He has written several great articles on how to live a frugal yet richer life. Hal is newly retired, and as he embarked on planning and preparing for his golden years, he realized there was a lot of information to keep up with so he started gathering it all and created Elders.Today to lend a helping hand to other seniors via carefully curated resources. When Hal isn’t working on Elders.Today, he enjoys walking at his local park, testing out new recipes with his wife, Marlene, and playing piano.

Photo Credit: Pexels

By Hal Salazar

Why spend over $28,000 on a fussy wedding when you can say your “I dos” from the comfort of home? Getting married at home can be the perfect (and most affordable) place to begin your happily-ever-after life together. And it can be every bit as special and memorable as a more expensive wedding. The key, however, is preparation. Here are some great tips for preparing the cost-conscious wedding of your dreams.

Consider the Size of the Home

If you don’t have the space, do your parents? Your fiancee’s parents? Your sister? Your best friend? Wedding spaces are big business, and there’s a lot to do, so don’t ask someone to host who isn’t emotionally invested. It needs to be someone you know you can work with, who will respect your opinion, and who’s also willing to lend you their home.

The home you secure will determine how many guests you can invite. For instance, a four-hour event with approximately 100 guests should have two toilets. If you have more guests than this or if your home has old pipes, you might want to consider renting a port-a-potty.

Have a Plan for Each Area of the House

Designate an area for guests to arrive, sign the guestbook, and drop off gifts and coats. What space makes the most sense for the ceremony? If the weather is questionable, you may need a tent. And the home will need rooms to be used as dressing rooms, not only for the bride and groom, but for the wedding party.

In the yard, a professional landscaper might be necessary. Landscape experts can transform the yard into a beautiful setting for the ceremony, and it’s an investment that will pay off well after the wedding. Look for local landscape professionals to zero in on a reputable contractor. The right landscaping can create a beautiful setting for the wedding photography.

Additionally, Unless you live on a 50-acre farm, it’s wise to check out large parking areas nearby. You can direct guests there and have someone shuttle them to and from the house.

Get Help Before Hosting Overnight Guests

With friends and family coming to town, don’t hesitate to keep house guests. The cleaning and prep you'll have as a host you have to do for the wedding anyway, and most guests will be eager to pitch in and make sure everything’s taken care of for the big day. You don’t have to repaint the house, redo the carpets, or take out a wall, but if you’ve got a running toilet, a dripping faucet in the tub, or a toilet with a tendency to clog, call a pro. Skim ratings and read reviews to find a dependable, affordable plumber.

Balance the necessary repairs and tasks that need to be done, with what will make the most impact, but is also affordable, with some tasks, like landscaping and cleaning, needing to be done within a day or two of the ceremony.

Photo Credit: Pexels

Decorate

During the evening, you’ll want great mood lighting, whether you hang string lights in your trees or simply use candles throughout the space. With Martha Stewart’s floral ideas, you’ll discover that having beautiful flower arrangements won’t require you to break the bank.

Let Them Eat Cake (and More!)

Depending upon your budget, you can buy finger foods at your local grocery store, have an informal barbecue, or hire a caterer. Because cakes can be costly, you’ll want to read these tips for wedding cakes on a budget. To cut down on the cost of alcohol, consider only serving wine, beer, and champagne for toasts. Instead of purchasing everything, renting all your dinnerware and bar ware will probably be the way to go.

Planning any wedding comes with its own unique share of stress, but with an at-home wedding, a lot of this stress is reduced because you are in control. There are no venue fees or time restrictions, and all the yard and home improvements will be yours long after the big day. The biggest perk is creating wonderful memories in an intimate and beloved space.

Image via AARP

    

Today our nation is in the grip of the worst price inflation in decades. The average price of gasoline is about $5 a gallon and stores of all kinds are facing product shortages, pushing prices higher. In these times, frugality is so important more than ever.  AARP put together their annual list of Great Ways To Save. I've listed my favorite ways to save from their list below. Check out their complete list here.

1. Plant edible perennials. Many herbs and spices — among them garlic, rosemary, thyme and oregano — will grow back year after year, making them a great value. Plus, they are often easy to grow because deer and other critters won’t eat them. Several of these also do great in pots outside the kitchen door, so you don’t even need a garden.

2. Have an “eat me first” spot in your fridge. Designate a shelf or bin in your fridge for all of the leftover food bits (think nubs of cheese, a half serving of pasta,a lemon wedge) or overly ripe foodstuffs that should be eaten before fresher items.

3. Pay with the right card. Many credit cards offer cash back today, but the amounts often vary by category. Search the Internet for cards that offer the most cash back for groceries; you might find a card that will give you 5 percent back on food purchases. Websites like CardRates and NerdWallet let you compare your card with others.

4. Check gas prices by phone. Several phone apps are available to give you the current cost of gas in the area where you’re driving. For example, search “gas” on the Waze app, type “Geico gas” into your browser for the same result, or check the GasBuddy app.

Image via AARP 

5. Buy (or sell) used bulky items. People often turn to Facebook Marketplace or Craigslist to sell larger items like furniture, exercise gear or play sets they’re no longer using.

6. Have your holiday weekends on Wednesdays and Thursdays. Most resorts and inns offer lower rates on weekdays than weekends, so you can save more by going midweek. Some resorts offer better prices on Sunday-through-Thursday packages.

7. Switch to phone auto pay. Some providers, including Verizon, T-Mobile and AT&T, give users discounts for setting up automatic payments. Bonus: You’ll never get hit with a late fee again.

8. Stop paying for subscriptions you forgot you had. The free app Truebill gathers information on all of your subscriptions and presents them to you. That makes it easy to see what you're already paying for. Decide you are done with a subscription? Truebill will cancel it on your behalf.

9. Keep your cash working. Consider moving your bill-paying money from a no-interest checking account into one that pays interest. Put the rest of your cash into a money market account or high interest savings account.

10. Free haircuts. Sign up to be a hair model at SalonApprentice.com, where aspiring stylists find people on whom they can practice their craft.

Photo Credit: via Pexels

by Hal Salazar

 
If you intentionally avoid going into the garage, chances are, you have too much stuff collecting dust. The good news is that you can turn those boxes into big bucks by hosting an end-of-summer yard sale. Keep reading on how to make your free-market mercantile a success.

1. Pick the Right Date
 
Your most important job is to determine which day, or days, you’ll open up for business. Traditionally, yard/garage sales are held on Fridays and Saturdays, but it’s not unusual to spread out from Thursday to Sunday. Avoid holiday weekends, since fewer people will be in town to browse through your belongings.

2. Gather the Goods
 
Here’s an opportunity to get the entire family involved in the planning process. Have each member of your family fill a box with possessions they no longer need. Make a rule that if it hasn’t been used within the last 12 months, it has to go. Money Crashers notes that everything from old perfume bottles to unidentified cords and cables has selling potential.

If you have a storage unit, go through it and pull out items you no longer need for the sale. You may also want to move things out of your garage temporarily to keep buyers focused on what is for sale. In that case, try finding self storage in Los Angeles before the sale. Look online and arrange to move items off your property at least a few days before the sale.

3. Assign Responsibilities to the Kids
 
Once your children have determined which of their belongings can go, keep them engaged by giving them specific responsibilities during the sale. Many children will delight at the idea of selling small items on their own, such as Pokémon cards, Barbie clothes, or Hot Wheels. If they aren’t willing to give up their prized possessions, give them a $20-budget to open up a snack and lemonade stand. A word of caution, here, however: check with your local codes enforcement agency to find out if selling food and drink is legal in your area.

4. Get your Supplies Together
 
Even though you’re selling items you already own, there are plenty of accessories you need to make the day go smoothly, especially signage. The only way you’ll have a successful yard sale is if you have lots of people coming to check out your swag, so be sure they know how to get there by having plenty of big, bold signs with arrows that will direct them right to your home. Additionally, you’ll need price stickers, a cash box, and a calculator.

5. Price to Sell
 
Now that you have your stuff together and your stickers in hand, it’s time to get to work with pricing. Avoid the temptation to allow your guests to name their own price, since that can be intimidating. Keep in mind that yard sale prices are typically much less than retail prices. For instance, baby clothes typically sell for approximately $.25 to $1, and you can expect no more than a Lincoln for your old hand tools, no matter the brand or condition. This yard sale pricing guide by My Frugal Home is a great reference sheet if you’ve never hosted a sale.

Photo Credit: via Pexels

6. Advertise
 
In addition to hanging signs around your neighborhood, advertise your yard sale on Facebook, Craigslist, and your neighborhood’s website. There are also yard sale specific sites, like Gsalr.com and YardSales.net that you can try.

You can also post fliers on community boards at your local rec center, church, or other neighborhood hangouts. Be sure to promote your sale at least a few days in advance so people can make plans to come by.

7. Stay Organized
 
Perhaps most importantly, on the day of the sale, make sure your items are grouped according to function. Keep your stuff off the ground, too. This will make it easier for people to find what they’re looking for and for you to keep tabs on what’s hot and what’s not.
 
A successful yard sale is dependent upon a number of things you don’t control. Keep that in mind as you make your plans. Your homeowners association rules, unpredictable weather, and blatant disregard for your personal property by bargain hunters are all things to consider. Even with the negatives, selling your stuff from the comfort of home is a great way to earn a little bit of extra cash and make sure your home is organized while you hibernate through the long winter.

About the author:

Hal Salazar created Elders.Today to lend a helping hand to seniors via carefully curated resources. Hal is newly retired, and as he embarked on planning and preparing for his golden years, he realized there was a lot of information to keep up with so he started gathering it all on his website to help out his fellow seniors. When Hal isn’t working on Elders.Today, he enjoys walking at his local park, testing out new recipes with his wife, Marlene, and playing piano.

Image via Unsplash

by Elizabeth Long

Are you ready to update or renovate your home? Do you know how much you have to spend? Is your budget limited?

If you answered "yes" to these questions, then it's time to do a bit of careful planning and budgeting to get the results you want without breaking the bank. The good news is that there are some techniques you can use to help you achieve this goal. Here, we share four of our top tips to keep things simple.

Prioritize the projects you want to do

Usually, when you are ready to renovate your space, you want to tackle more than one project. However, if you have a limited budget, you must choose what you’ll do first.

When prioritizing your projects, consider the goals you have. For example, are you renovating your space to increase your home value? If so, complete projects that will help you make more on the sale than what you spend on it.

However, if you want to increase your enjoyment of the space, choose something you personally want to improve. For example, do you want more counter space in the kitchen or a larger closet? While these projects may not increase your home's value, they can increase your enjoyment of your home whilst you’re living in it – and if you’re not planning on moving soon, then that might be the most important thing.

Estimate how much the project will cost

Once you know what project you want to take on first, it's a good idea to pull out your calculator. You need to consider all the elements of the project to determine its cost, including the materials you need and the labor involved. When making decisions, make sure to consider how the work will last, and what impact it will have on your home – for example, eco-friendly renovations can help you cut down on bills, although they’re more expensive to start with.

Remember, there's no way to get a detailed understanding of a project until you have received itemized estimates. However, crunching the numbers yourself will give you an idea of what to expect, which can give you a number to save towards.

Speak to several contractors

After working out a rough cost, it's time to get estimates from a few contractors in your area. Be sure to ask for itemized breakdowns of the costs so you can find the one who offers the most value for their services. This is a crucial step in the process if you want to budget properly for a home renovation.

Tips to reduce home renovation costs

Usually, home renovations should not be do-it-yourself projects because of all that's involved in them. However, there are some tasks that you can do yourself:

• Handle demolition on your own (be sure this is safe first)
• Try to find low-cost or discounted materials
• Hire subcontractors yourself
• Handle the painting and other small tasks

Image via Unsplash

Are you ready to invest in a home renovation?

As you can see from the information here, more than a few considerations and costs go into any home renovation project. Keep the tips and information in mind, which will help you budget appropriately. If you take the time to plan, you can handle any home renovation without spending too much.

Author: Elizabeth Long

I love finding home renovation solutions that don’t break the bank, and am keen on making the most of second hand products to be as sustainable as possible. I write meaningful posts, designed to give readers take-home actions they can act on in their own projects.

Image via Pexels

by Hal Salazar

Maybe you and your significant other have always imagined that you would start a business together one day. Now, you’ve finally reached a place in life where you can make this dream come true, but you’re not sure how to get your company off the ground while keeping your romance alive. And if you’re on a slim budget, you might be worried about whether or not you’ll be able to succeed as an entrepreneurial team. It is possible to keep your costs under control while starting your business. Furthermore, these tips will help you launch a business without losing the spark!

Choose a Business Idea

In order to kick off your entrepreneurial journey as a couple, you’ll need to agree on a business idea. If you’re working with limited funds, you’ll want to choose an idea with low overhead expenses. Renting a brick-and-mortar space, or leasing expensive equipment, will probably be out of your reach. Tweak Your Biz recommends starting a business centered on social media management, web design, virtual assistance, event planning, or home-based food services, like custom baking.

Invest in Accounting Software

No matter the size of your budget, every business owner should use software for bookkeeping to manage their finances. This will allow you to manage your business income effectively and ensure that you’re not wasting a dime. Furthermore, you’ll be able to store and organize all of your receipts and other financial documents so that you can stay compliant and earn deductions when tax season rolls around. Plus, you’ll be able to easily assess your cash flow whenever you like.

Image via Pexels

Nail Down the Basics

In order to officially launch your business, you’ll need to take care of a few administrative items. Sit down together to draw up a business plan, and then get the paperwork you’ll need to register your business in your state. You will also need to create a budget to ensure that you don’t overspend. Furthermore, you can jot down ideas for your marketing and sales strategies.

Working Well Together

When you’re opening a business with your significant other, you want to make sure that personal disputes don’t affect your company’s operations. It’s important to stay on the same page as far as your goals for your business and your finances. Marriage recommends coming up with plans for dealing with common problems in advance, keeping your family’s finances separate from your company finances, and setting boundaries between your work and your downtime.

Keep the Romance Alive

If you’re busy getting your company going, how can you and your partner make time for each other? Time management is key. Choose a time each day when you’ll “clock in” and “clock out.” Outside of those boundaries, stay away from work-related tasks and focus on each other instead! Close your laptops and turn your attention to your relationship.

Image via Pexels

As entrepreneurs, it can be tough to stay away from business projects when you could be relaxing - you might feel like you have to work constantly in order to stay ahead of your competition. But enjoying your coffee together in the morning, taking leisurely lunch breaks each day, and scheduling a date night each weekend will help you balance your relationship and your business.

Running a business with your significant other does bring unique challenges. But at the same time, you’ll have some advantages - you’re already in sync, you share the same values, and you understand each others’ strengths and weaknesses. With these tips, you’ll be able to start a cost-effective business without neglecting your romantic relationship.

Image via Unsplash

by Liam Johnson

Many of us are excited to retire, but the financial realities of not working anymore can be challenging. Without a steady income, you might feel overwhelmed by the cost of daily life – especially with inflation and the cost of living rising.

However, there are some simple strategies you can use to make your money go further in retirement, allowing you to truly embrace this exciting time.

Don’t retire just yet

Perhaps the most obvious (and yet complicated) step you can take to make your money last is to continue working for longer. While this might be easy for some, if you are struggling with your work or are just ready for something new, this might not be a reasonable option for you.

If you can work for longer and retire a little later, this can increase the amount of pension you receive when you do retire, allowing for a more comfortable lifestyle. This is a great choice for those who were seeking early retirement, but are thinking twice. If you can live on a lower salary, you could discuss going part-time with your current employer.

Consider how you’ll receive payment

You may have the opportunity to choose how you receive your pension payments. Traditionally, it’ll be paid in monthly lifetime installments, to provide a steady stream of income. However, you may have the option to receive it in a lump sum, which could work better for your personal approach to finances. Before choosing, be sure to consider the pros and cons of each option so you can be confident with your decision.

Think about your property

If you are a homeowner, then it might be worth considering downsizing to a smaller home. Large houses can cost a lot in utilities and maintenance, and downsizing means you can enjoy spending less time tending to your home and more time on new hobbies and experiences.

If you can’t downsize, or simply don’t wish to, then there is an option to access equity release for your home – where you will receive a lump sum of money (essentially selling your home), while still being able to live in it. Be careful with this option, though, as it can have risks attached. Speak to a professional before making any decisions.

Curb expenditures

Your expenses are something you can control more tightly when you have time to focus on them. In retirement, you may feel like everything is more expensive, and now is a good time to cut back a little and spend your money more wisely on things you get real joy out of, like travel. You can create a budget that suits your new circumstances, establishing what your monthly pension income will be, and assessing your outgoings. If there is a financial gap in this, you can find out where you will be able to make adjustments to save money.

To sum up

Getting used to retirement isn’t always easy, but making sure that you are financially prepared will help. When considering how you can make your money go further, remember that you should be realistic about which of these methods will work for you – and help you to get the most out of the next chapter of your life.

About the author:

Liam Johnson is a digital consultant with several years’ experience creating content for a range of different companies worldwide. He majored in creative writing in university and is always eager to expand his knowledge around different subjects.