It’s Time to Save Your Money.

Far too often, we hear people talk about how much they want to save money, but how they’ll get around to it next time. The problem is, next time is always now, and if you have a job it is never too late to make some adjustments to your budget. The team over at the Art of Manliness examined three all too common excuses for not saving money, and I must say, one of them really stuck out for me:

I don’t make enough money.

That’s  quite the excuse. The reason it’s so head scratchingly confusing is that it’s predicated on the notion that there is, in fact, a “proper” amount to save. But as AoM’s Brett and Kate McKay point out, you don’t need to stash thousands or even hundreds of dollars into a savings account each paycheck. Just start with a small percentage– 5% is their suggestion– and work up slowly until you reach a more comfortable number, like 15%. All it really takes is getting used to the changes that come with an reduced immediate income. But trust me, your future self will thank you for it.

Accounting Firms Needs to Embrace Social Media

Accounting is one of the oldest skills necessary to success in the world. Throughout history, people have always sought out accounting professionals to make sure that their finances were correct. Governments relied on accountants and auditors to make sure that taxes were being smoothly and money was going where it needed to be just as much as business-owners relied on them to make sure they weren’t nearing insolvency. While the field is here to stay, it’s individual firms and accountants themselves that are at risk.

We are currently entering the future of business. Things are changing at speeds that couldn’t have been fathomed in the past and professions are becoming obsolete if they can’t update and adapt to new technologies and demands from clients; the way business is being done is different now than it was even 10 years ago. Throughout all of this, accountants have remained vital, plying their trade with new gadgets even though their task is millennia old. Do to the fact that people have always needed accountants, they won’t die out anytime soon. However technology is changing the way firms are hired and work is done and many accounting firms are reaching the point where they need to get with the program or risk losing valuable clientele and being seen as no longer useful.

Many well-known accounting firms are dealing with clients who are older and don’t use social media themselves. While this allows for the excuse that since the clients don’t use social media, the firm doesn’t need it either, it ignored the very real benefits that proper use of social media campaigns can bring. Along with gaining new positive press improving the reach of your brand, it’s a great way to make sure you’re still hiring the best of the best. Millennials and the younger generations are more keyed into social media than any previous generation. Capturing their attention and making sure that they’re on your side is key towards building a brand that will not only sustain itself, but also be on the cutting edge. Mobile is here to stay; history will vindicate those who adapt it early and use it well.

Finance Tips from Tony Robbins

We’ve touched before on how believing you don’t have the income or assets to start saving or investing responsibly don’t really hold any weight. Because there isn’t a minimum for how much you need to save, you can start as low as you need to and just work your way up. And I’m not the only one who believes this. Just ask life coach and self-help author Tony Robbins, who sat down with USA Today and offered some pretty awesome advice, too. Check it out below.

  • Get out of a consumer mindset, and get into an investor’s mindset. Pick an amount or percent of your paycheck, and stick to it faithfully through times thick and thin.
  • Be knowledgeable and always educate yourself. Robbins warns that many investors fail to read the fine print in their contracts, and can wind up paying way more in fees. Robbins uses an example that shows how falling for the higher fees can wind up costing an investor hundreds of thousands of dollars.
  • Set a realistic goal. Don’t set a lofty one of “financial independence”. Find out how much you need, calculate it, and work towards it.
  • Diversify your assets. Know what you have and where to put it. Work out where to keep it safely, and where you can invest with risks.
  • Assets are nice, but should take a backseat to income. Learn how to liquidate some of them when necessary. After all, a great stock portfolio won’t buy your food or pay for gas.
  • Again, keep learning from the best. Read interviews, tips, and lectures from the top financiers.
  • Start now. Just do it. If you have some income, it’s not too late to begin thinking about your future wealth.