Tuesday, June 30, 2015

Taking Advantage of Economic Recovery Part 2

Are you caught in a vicious no money cycle? Before you know it the funds run out, bills pile up and your back at square one fishing for money. Anxiety, worry, embarrassment and depression instantly set in. How can you end the cycle? Here is a list what will help you turn it all around, but you need to act while there is still time.
  1. Don't Squander
  2. Save sales receipts
  3. Record transportation/travel expenses
  4. Report taxable income
  5. Report business and job finding expenses
  6. Earn a second income at http://webiz.fimark.net

Don't Squander

To break the cycle there is one rule you'll want to follow for life. Don't squander. Spend a small part of the income left after bills are paid and put the rest in savings or add it to your investment package.

Why Let Your Money Sit

Some people may wonder why they should let their money just sit there seemingly doing nothing. The fact is having money just sitting around makes you look good. Very good to creditors, business owners and banks. How so? Having residual income helps you pay your bills on time. That raises your credit score.

Why Build Your Credit Score

A consumer with a high credit score and hefty savings account is considered a wise investor, smart consumer and desirable business associate. Creditors are desperate for your business and will give you a better deal than folks who don't have much in savings or are crippled by bad credit.

Why Report Taxable Income and Other Expenses

Prepare to report your taxes now by filing away all sales receipts and transportation expenses.
Do you spend a lot of time on the road or in the air? Keep track of all travel expenses for business, work and school. Unemployed? Actively looking for a job. Keep track of these expenses and report long distance calls, resume preparation, career counseling and networking.You may be in line for a large tax refund.

Now that's money you can bank on. And speaking of banking, in our next article we'll discuss what to do when that hefty tax refund check comes in.

Need more ideas to increase your income? Start a second income side business. Many of these businesses run right from your home and require low or no overhead costs. Where to start? Consider a talent, skill or hobby you or a family member enjoys and is good at and would like to blog or vlog about. Select and download the business plan that best complements that talent skill or hobby and shows how to promote products and services associated with your business. Start here.