Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Is the U.S. economy really heading for a recession? Here’s what the economists think While many economists believe the U.S. is headed for a recession, the Bureau of Labor Statistics reports that the unemployment rate remains at 3.5%, the lowest in around 50 years. Economists say the country could… Read more
Stale inventory is a costly nuisance for any business owner. Ideally the rule of thumb is to sell the goods taking up space on your sale floor within 90 days; after the three month mark stale inventory becomes dead inventory. Products are much harder to move and nearly impossible to get top dollar for. Fortunately there are a number of ways to recoup at least part of your investment on… Read more
No matter what your financial goals are, consulting with a financial planner can help just about everybody. Not only will they help you refine your goals, they’ll guide you in creating strategies for your money, and keep you accountable to your plan. They’ll also help you navigate different saving and investment strategies, so you know your money is working for you. They’ll also make sure you have the information you… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. The Fair Tax Act explained A group of House Republicans is supporting the Fair Tax Act, which would eliminate income, payroll, estate and gift taxes and replace them with a 23% national sales tax. However, it’s unlikely to make it through the Democrat-controlled Senate. No more free grocery deliveries… Read more
As a parent, you may worry about how to ensure your child can receive a post-secondary education. Costs are constantly rising, and you may face high tuition fees as well as cost of living expenses if your child has to live away from home. Here are some steps you can take to save for your child’s education. Be clear about what you can and cannot afford to pay Being clear… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. The government hits its debt ceiling The treasury secretary said the government would suspend debt issuance and investments into two government employee retirement funds until Congress acts. Microsoft throws its weight behind OpenAI Microsoft is making a multibillion-dollar investment in the artificial intelligence startup OpenAI, which makes ChatGPT, DALL-E… Read more
Early retirement may sound like a big dream, but it is achievable if you’re willing to do some planning and stick to your strategy. Here are four steps you can take to put yourself in a position to retire early. 1. Figure out how much money you’ll need after you retire This involves figuring out what age you want to retire at–if you want to retire at 55 you’ll need… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. How will this recession be different from 2008? Economists predict a recession will arrive by the end of this year, but the downturn will likely play out much differently than it did in 2008. Leaders descend on Davos to talk about economics The World Economic Forum (WEF) returned to… Read more
When it comes to your finances, it’s a good idea to check in on your progress periodically, to see if any adjustments to your budget or changes in your habits are necessary. Even if you’ve set your budget for the year, you may learn a new strategy or have a priority come up suddenly that causes you to shift your thinking. Here are ways to take stock of your finances,… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Layoffs ahead for Goldman Sachs According to a person familiar with the matter, Goldman Sachs will lay off as many as 3,200 employees this week. The bank has been hit by a slump in global activity. Investors weigh their chances against further rate hikes Money market bets are showing… Read more
There comes a time for every small business to raise their prices. While it may seem scary, remember that it’s your job to keep prices fair, both for you and your customers. That means you have to charge prices that work for you and allow you to remain in business. Read on for six reasons to raise your prices. Your costs have grown The thing about inflation is that everyone… Read more
It seems that every news outlet is sounding the alarm about high inflation these days. While it might sound like it’s time to panic, you don’t have to. With a few adjustments, you can handily fight off inflation and possibly even benefit from the current economic climate. Read on to discover 5 ways you can combat inflation and make your money work harder for you. Find out what you spend… Read more
The process of onboarding employees is often lengthy, but it’s important. New hires need to learn your company’s culture, policies, and procedures. You also need to get some critical information from them so that they can legally work for you. The onboarding process is typically long and a little dry. It may include training, equipment distribution, benefits orientation, and security policies, just to name a few. There are many benefits… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Stocks aren’t strong heading into the holiday season Wall Street closed lower on Monday for a fourth straight session, with investors avoiding riskier bets. They worry that the Fed’s tightening campaign could push the economy into a recession. Jan. 6 committee recommends criminal charges The January 6 Committee recommended… Read more
It’s an inevitability in every business – you have to raise your prices to continue making a profit. There are many factors that go into deciding how much to charge, all of which are dynamic. The rising cost of goods, inflation, and a changing market are just a few reasons why any small business has to reevaluate its rates regularly to stay competitive (and to stay in business). While it… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Small businesses hold the key to supply chain resilience Small and midsize businesses play an important role in supply chains, representing 44% of US private employment and most of the country’s STEM jobs. They also represent an enormous opportunity to improve supply chain resilience while increasing overall competitiveness. A… Read more
There are many types of insurance for individuals, and choosing the right ones for you can be overwhelming. These policies are distinct, yet they often overlap. It’s smart to review your personal insurance policies any time you have a significant life event. This ensures that you and your loved ones are cared for should you find yourself unable to work. Read on for a brief explanation of the different types… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. A weak start for stocks as we wait for the Fed’s next announcement Stocks started the week with a tumble on Monday, due to fears that the Federal Reserve may continue tightening until it tips the economy into a recession. Cryptocurrency exchange founder pledges to testify Former FTX CEO… Read more
There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have their own implications for your business and its employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage and bonuses. How you pay your employees will impact your finances and… Read more
When it comes to hiring seasonal employees, business owners tend to fall into two groups. Some look forward to hiring temporary workers, knowing that the need for seasonal workers reflects a business season. Some feel that it’s a necessary evil to get through times where the workload is heavy and the permanent workforce is lean. Unfortunately, the attitude is that seasonal employees are temporary, and are therefore not as skilled… Read more