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Joe is a former financial advisor and media representative for American Express and Ameriprise. He was the “Money Man” at Detroit television WXYZ-TV, appearing twice weekly. He’s also appeared in Bride, Best Life, and Child magazines, the Los Angeles Times, Chicago Sun-Times, Detroit News and Baltimore Sun newspapers and numerous other media outlets.  Joe holds B.A Degrees from The Citadel and Michigan State University. 

5 Tips to Save Money on Your Smartphone Bill

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When you just can’t seem to make your money last all month, something has got to give. If you’re searching for ways to cut your monthly expenses, look no further than your smartphone. A Harris Interactive survey found that almost half of Americans spend $100 or more each month on their smartphone, while 13 percent drop $200 or more on monthly phone service.

Pardon our frankness, but that’s crazy. $100-$200 a month? No, no, no. We’ll show you how to do it for cheaper.

Downgrade Your Data Plan

Check your usage statistics on your phone. If you’re only using a portion of the data you’re paying for each month, then ask your carrier if you can switch to a lighter usage plan. Use MyRatePlan.com to compare plans and find the right fit for your usage needs.

Make money from technology

Reduce Your Data Usage

This tip goes hand-in-hand with the one above; if you can’t downgrade your data plan because you use too much data, well then maybe it’s time you reduced your data usage — then you can cut back on your plan. To do this:

  • Connect to free Wi-Fi whenever possible. Of course, don’t do any online banking or send any sensitive personal or financial information, unless the site is encrypted. For more tips on using public Wi-Fi safely, visit the Federal Trade Commission website.
  • Don’t stream video, play games or use apps unless you’re connected to Wi-Fi. These activities suck up a lot of data.
  • Make sure you’ve killed your apps when you’re done using them. If you don’t, they’ll continue to run in the background, using data.
  • Don’t run apps that regularly push content, such as weather updates and sports scores. These use data continuously. If you need help turning these off, simply search “How to turn off push notifications on a (your device)” and follow the instructions.

 

Change Your Insurance Plan

Many people don’t realize that they aren’t limited to the insurance offered at the time they bought the phone or signed up for service. Insurance from the manufacturer or carrier is usually more expensive than going through a third-party provider. Protect Your Bubble offers smartphone protection starting at $5.99 a month. It covers liquid damage, cracked screens and mechanical breakdowns, and most deductibles are just $50.

You can take your chances and cancel your insurance altogether — that will save you money. But then you take the chance of having to shell out up to several hundred dollars for repair or replacement if something happens. That’s not good for your monthly budget, either.

Go With a Prepaid Plan

Prepaid, no-contract plans are a good way to reduce your bill, and a lot of them have come down in price in recent months. Walmart’s Straight Talk plan has an unlimited talk, text and data plan for $45 a month; Cricket Wireless and Boost Mobile have similar plans for $50 a month; and the GoPhone offers the same type of plan for $60.

There are some caveats here, however. Make sure to ask about coverage, overages and the available selection of smartphones. Consumer Reports features a comprehensive guide to no-contract phones and plans.

Stop Buying Stuff

Finally, quit downloading apps, games, music and the like. Ninety-nine cents here and there isn’t much, but it does add up. If you need a little help with willpower, turn off your ability to make in-app purchases.

3 Smart Things 20-Somethings Can Do With a Tax Refund

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Unless you left with an accounting degree, filing your first tax return after college can be a little deceiving. A couple government checks in the mail this summer might feel like a consolation prize for a dues-paying job, and you deserve to be king for a day, right?

Hold on a minute. We have a few ways you 20-somethings can make the best use of your tax refund.

Perhaps the Most Underrated: Start Saving

If you get your refund deposited directly in your bank account, it’ll just “show up” one day, like someone just dropped a gift card in your lap. Saving isn’t the most appealing option, but it will be the most rewarding when it’s time to rent a new apartment or put a deposit down on a car. Building your current account isn’t always enough incentive, so here are two ways to keep at it:

  • Open a savings account. Already have one? Open another. A hundred dollars buys you a reason to put disposable income aside exclusively for emergencies or other big (but necessary) expenses.
  • U.S. savings bonds are another convenient option, allowing you to redirect your tax return into an account that earns ample interest and is safe from inflation. According to TreasuryDirect, classified Series I bonds opened just four years ago this month, and this route requires a simple request via IRS form 8888.

Invest It in Your Retirement

Start building an investment portfolio now. If you feel you don’t have the know-how to purchase stock, the following two retirement investments are ripe alternatives for someone your age. Planning for retirement should always start as early as possible.Woman and piggy bank

  • Open an IRA, or individual retirement account. This is a personal account you contribute to each year, and the amount you contribute is tax-deductible. While you have more freedom to adjust and personalize investments like stocks, mutual funds and CDs, you can’t make withdrawals. With a Roth IRA, on the other hand, you pay taxes upfront and then you can make tax-free withdrawals.
  • Invest in a company-sponsored 401(k). Don’t miss out on the retirement plan your company offers. Many companies use a safe harbor or match plan. Safe harbor means that if your company contributes to your plan, the funds are yours even if you leave the company a couple months later. A matching plan means the company matches whatever you put into the plan. Some companies will even match up to 6 percent of your salary, according to DailyWorth.com. It’s basically free money.

Pay off Your School Loans

If you owe on student loans, put your refund on that debt. Paying off loans isn’t optional—you have to find a way to pay them anyway—and paying up front and on time is a bigger deal than you might think.

Funding your next bill with a tax return reinforces your credit history, yielding low interest rates on future big-ticket items like a new car, and keeps you paying loan interest at levels that can qualify you for education-based deductions as defined by the IRS later on. Whenever you can contribute a large chunk of money to paying down your student loan debt, do it—whether it comes from your tax refund, an unexpected financial windfall such as lottery winnings or inheritance or selling a structured settlement. The faster you pay them off the more you’ll save on interest, and that’s like money in the bank.

Good News: Small Business Confidence Is High. Here’s Why

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Some news today for our UK readers. Will this spill over into the USA? Hopefully!

A recent survey by the Federation of Small Businesses (FSB) is welcome news to the UK economy which in part is dependent upon the success of that sector. The regular quarterly survey showed that 60% of respondents expected growth in their business in the coming months, a clear sign that they believe the recession has been left behind.  The result is consistent with the conclusion from the previous six surveys. While the South East was inevitably the most positive region, the greatest improvement in attitude came from the North East, which has often lagged behind when growth has started elsewhere.

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The results mirror reports from the Office of National Statistics which announced that in the second quarter of 2014 there had been 3.2% growth compared with the same period the year before. The International Monetary Fund (IMF) agrees; it sees the UK as one of the best performing economies around.

 Coins

FSB Chairman, John Allan, interprets the news as confirmation of the role small business is playing in the recovery in the UK. At the same time, he wants all political parties to commit to ensuring the momentum continues.

Go for Growth

It is important that all small businesses see this time as an opportunity to go for growth, now that consumers largely seem committed to spending once more after years of recession had everyone thinking twice. If you are wondering how to expand your own business and are short of the capital needed to do it, the solution may be small business loans UK from companies which reflect the same confidence in the future.

Positive Approach

The online financial sector has certainly benefitted from taking a positive view towards lending, sometimes in stark contrast to traditional financial institutions that have tended to take a conservative approach to any applications. These lenders still need information from applicants, but put far more emphasis on their ability to repay the loans rather than any historical problems that may have occurred.

If you think that this may be your opportunity, you can look at websites that will largely explain everything you need to know from the detail of the process to the information required with the application. You can get an idea of the cash flow commitment you will face if you are approved, and the term of a loan. Interest rates are at historically low levels and look likely to remain so for some months yet. Those are months in which your business could be growing, if you decide it is time to finance expansion plans or similar. Take some time to check out how your business could benefit from a small business loan to boost growth.

Image courtesy of TaxCredits.net

Source: http://www.bbc.com/news/business-29197510

3 Bookkeeping Tips for Entrepreneurs

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The Sarbanes-Oxley Act of 2002 was passed to stop corporate malfeasance and accounting scandals at Enron, Tyco and other large companies that cost investors billions and many Americans their pensions. In 2014, a study by the University of Kansas School of Business found that only 728 financial restatements were filed with the Securities and Exchange Commission (SEC) in 2012. That’s down from 1,784 restatements filed in 2006. The study also found the highest proportion of egregious errors were filed by small and medium-sized companies as opposed to large corporations.

Accounting oversights and inaccuracies can land your company a hefty fine and also can cause leaks in revenues that will ultimately sink your startup. These three bookkeeping tips will help simplify the process and avoid costly mistakes.

Pick the Right SoftwareCalculator Free Financial Advisor

QuickBooks is by far the most popular business accounting software for small businesses, boasting a 90 percent market share, states PRWeb. Its interface is extremely user-friendly, complete with pictures to help you get started. The Setup Interview process helps configure payroll, accounts receivable and billing. There also are several pre-printed forms for tax filing, purchase orders and other business processes.

Gene Marks, owner of consulting firm Marks Group PC, argued that many Quickbooks users will be forced to switch to cloud-based solutions. For those who believe this proposition, PC Magazine recommends Xero because of its exporting capabilities and add-ons that you can customize to fit your business structure. Wave, FreshBooks and Kashoo also are highly regarded, cloud-based accounting solutions.

Invest in Cloud Storage

Most entrepreneurs aren’t trained accountants, which is why storing important documents in the cloud is essential. This way you’ll be able to access all of your financial statements on your smartphone, laptop or any other mobile device. It also gives your company an extra layer of protection if disaster strikes in the form of fire, hurricane or some other unfortunate event.

Dropbox is the most popular cloud solution because it’s user-friendly and provides 2 GB of free storage. And, you can earn up to 16 additional GB of storage by referring friends to the service. Another solution is OneDrive, which is built right into Windows 8.1. Carbonite and Open Drive also are popular among small businesses.

Use Apps for Expense Tracking

It can be a tedious process to keep track of receipts for gas, hotel stays, food and other business expenses that can be written off at the end of the year. Luckily, there are several expense tracking apps that make the process seamless.

  • Expensify allows you to sync the app software with your credit cards to automatically capture expenditures and export them to PDF files. It also turns the camera on your phone into a scanner that can digitize paper receipts.
  • Mileage Log+ is a great app for those who travel a lot by car. It stores frequent trips for quick recall and provides reimbursement rates pursuant to IRS regulations.
  • BizXpense Tracker is another option to consider for comprehensive expense recording.

Effective bookkeeping is about organization and accuracy. DIY accounting is the most cost-effective solution, but don’t hesitate to consult a professional anytime a situation is beyond your understanding.

7 Killer Personal Finance Lessons to Go From Couch Potato to IRONMAN

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Humans by nature have a competitive drive that compels them to succeed. Great athletes are committed to their training because they want to be the best, and anything less than a championship isn’t enough.

If you’re not an athlete, this urge to prove yourself often manifests itself in the car you drive or the house you live in. But to properly manage your money, you need the dedication of a pro athlete to train your mind and create winning habits.

But if you’re the financial equivalent of a couch potato, you can’t expect to become an IRONMAN overnight. You need to start from where you are and create a plan that works for you.

How to Get Startedpersonal finance ironman the free financial advisor

To reach your personal finance goals, you need to train your mind to stay within a specific budget and have the commitment to stick to your goals. Here are four steps you can take to prepare for the marathon of personal finance:

1.     Put your goals in writing. Many athletes have their team to hold them accountable, but since personal finance is usually a solo venture, writing down your goals can help. Maybe you just want to be debt-free by a certain date, or perhaps you’re trying to save a specific amount for retirement.

When setting goals, it’s important to be specific and realistic about how much of your income you’ll be able to save or put toward paying off your credit card each month.

If you’re thinking of buying a new home or a nice car, do some research to figure out exactly how much it’s going to cost. (This includes taxes, insurance, maintenance, etc.) Don’t leave anything out! Give yourself some cushion in your financial planning for times when unforeseen expenditures interfere with your plans.

2.     Assess where you are compared to where you want to be. World-class runners always know the race times they want to achieve, and they train with that goal in mind. Once you’ve listed your current expenses and goals, brainstorm possible ways to cut spending to reach your ideal financial situation. Where are you now compared to where you want to be?

3.     Consider possible ways to increase your income. Evaluate how a second job, a promotion at your current job, or furthering your education could help you reach your personal finance goals. Carefully evaluate whether the income generated from these options will be worth your time and investment.

4.     Put your plan into action. No matter what level you’re at, you’ve got to start somewhere. For Rocky, it was just a matter of getting out of bed, putting on his sweats and sneakers, and training before the sun rose. Put your routine into action, and stay committed — even if your plan falters from time to time.

3 Lessons for Winning in Finance

Once you put your plan into action, it’s important to maintain a winning mindset. It takes many athletes up to eight years of training to make an Olympic team, so it’s crucial to have the tools in place to maintain motivation.

 1.     Remember: Financial success is a marathon, not a sprint. Most athletes will tell you that a slice of cake once a month isn’t going to kill you. But if you indulge in a slice every other day, it starts to become detrimental. The same rule of moderation in the long haul applies to amassing wealth.

To remain financially healthy, you need to develop the foresight to see how unnecessary expenditures can derail your financial goals in the long term. It’s OK to treat yourself every once in a while, but those weekly shopping sprees and daily lattes add up. Reaching your personal finance goals is an exercise in patience and long-term dedication.

2.     Winners never quit, and quitters never win. You’ve heard this one before, right? Even the best experience failure, but how well you bounce back from setbacks and learn from them ultimately determines whether you reach your goals.

“I’ve missed more than 9,000 shots in my career,” said Michael Jordan. “I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game-winning shot and missed. I’ve failed over and over again in my life. And that is why I succeed.”

Don’t use your failures as an excuse to put your dreams on hold. Just get back on track, and keep moving forward.

3.     There’s no “I” in team. Tim Rees asked nearly 200 elite golfers about their support systems. He found that during stressful matches, golfers with strong support systems performed better than those without. Similarly, your spouse and loved ones can be huge sources of support and motivation in your financial journey. Make sure your family understands your goals and is committed to helping you reach them.

Just as athletes don’t expect to win every single game, you shouldn’t expect to become a millionaire overnight. The road to financial success is a rocky one, and life will throw you unexpected curveballs. The key is a consistent, long-term commitment to saving and spending wisely. If you can do that, you’ll retire with plenty of wins under your belt.

Daniel Wesley is the founder of DebtConsolidation.com, a website that specializes in debt-relief services for businesses and individuals.

Photo: Patrick Theander

3 Tools to Help You Make More Money and Spend Less Time Doing It

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What if there were a way to put less time into your business but earn more money? Entrepreneurs tend to believe everything can be solved by spending more time and money on the job. But if simply investing more time and money would put you on the road to success, you would already be there, wouldn’t you? Entrepreneurs always have the drive. What they sometimes lack, though, is the right tools.

Efficiency experts know we often exert too much effort to accomplish a task. Organization is central to the flow of information and communications. Here are three tools to help you leverage your time and make more money:

Microsoft OneNoteweight scale

The interface is simple to grasp. OneNote enables you to collect all information in one place. No more searching through files and folders to find what you need. OneNote will hold audio, video, and graphic notes, and you can instantly clip things from websites or other documents directly to your notebooks. This is one powerful tool. A similar alternative is Evernote, but there are open source variations, as well. For the busy entrepreneur, it can be simpler and more cost effective to simply stick with the original. Check Microsoft Office online for cloud-based package to help you soar.

Now that your own desk is organized, get your team on board. Project management programs can be way too complicated. Unless you are building a space shuttle, you probably don’t need an elaborate communications system. Most of us can get by just fine with a simple board to post notes and track task status.

Trello

Life doesn’t get much simpler than this. Trello offers a straightforward interface of columns with text blocks that can be moved from one position to the next. A task may start out in the “To Do” list, move to “In Progress,” and end up “Finished.” You title the columns and decide your own system. Trello records it and allows you to share access with team members. Trello also offers a paid version with a little more flexibility. Breeze is a paid service very much like Trello, but with time tracking.

Leads are vital to any business. You can have the best sales funnel ever constructed, but if no prospects are entering, there will be no sales. Most businesses will spend lavishly on website development, SEO, and paid ads to develop leads, but balk at taking advantage of a service that provides targeted leads. The best practice is utilizing a good mix of sources.

Quote Wizard

The best lead services don’t try to be everything to everyone. Rather, they concentrate on a specific niche. Quote Wizard, for example, focuses on insurance leads. Reduce cold-calling and praying for an appointment. With targeted leads, your presentation and close rates can jump-start success and boost enthusiasm. For other niches, search to find a similar service that fits your needs.

Organization, project management, lead development: three areas where the right tools can make all the difference. Are there other service you are using for leverage? Let us know in the comments below.

3 Keys to Small Business Success

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Let’s turn our attention to business owners before the weekend! 

Looking for ways to make your business surge? When I was an advisor, small business owners would ask me to help them attack their problems. Often I’d find people lacking in these three areas.

Clean Up Your Dashboard

Not only can you run your business from one single platform….you’ll save time and avoid aggravation.

Here’s the analogy: you’re headed on a road trip. Do you have five dashboards or just one? Whether you’re a business person or not, an effective dashboard is crucial to getting where you’re going. Finding a way to handle everything from payments to inventory to customer contacts, all in one place not only makes business easier for the business owner, but it cuts out a lot of jumping around when you’re trying to keep your business running smoothly.

If you’re going to be in business, shouldn’t you run it professionally? I believe half of the “game” of winning in any business is to invest appropriately. Many products out there that can cover all your business needs in one place. A good mobile POS system, for example, allows you to sell your products in your store and online as well as accept payments, manage your inventory, track sales, and refunds plus many other things. Years ago accepting credit card payments in your business meant a long and tedious process of filling out a form and then making a carbon copy of the customer’s credit card. The other options were to be strictly cash or accept checks which carried another set of risks, such as wondering if the check would clear or bounce. In most cases the business owner had to cover the check and bank fees themselves as well as be out the goods that the shopper walked out the door with. Implementing a system platform such as Shopify’s POS, not only takes a lot of risk out of your business but it just makes good sense as a business owner.

Think about inventory controls before mobile platforms existed. Knowing what you had available to sell was a living nightmare to track, and it was pretty close to impossible to know where your sales were coming from. Marketing? There were no good ways to tell if your business was more word of mouth or newspaper ads.

If you’re running a business or managing your household, having a single platform that does all this for your business is one of the most powerful tools you can have. Having the right platform to run your business from is also about having the right sales strategy to go with it.

It's cliche to talk about Apple, but here's single platform, image and sales training by the book....in their Genius Bar.

It’s cliche to talk about Apple, but here’s single platform, image and sales training by the book….in their Genius Bar.

The Right Sales Strategy Can Make or Break Your Business

Sales strategy is not just about cutouts and displays, nor is it only about payment processing and marketing. It is about attitude and learning sales techniques. Inc. Magazine recently blogged about sales strategy, stating that in any selling/buying decision, it might seem obvious, but you need to know who the decision maker really is.

For example, if your business sells furniture, then many people in your customer base will be married couples. I hate furniture stores because I feel like the salespeople are sharks. It’s my least favorite type of buying. To sell to a person like me, you should become the “anti-furniture” store. Teach your staff to track subtle clues instead of hounding customers. Create training programs to hone your listening skills. Does one spouse ask another permission to make purchases, or does one person say “I think I’ll buy this one.” How strong a buyer are they? Be careful to be professional enough to seem knowledgeable, but easy going enough that customers feel like they can relax around you. Speak in turn, and don’t control conversations. I’m there to look at furniture, not to chat about your golf game. Give people space when they seem like they need it. You’ll seem different, and in the furniture business (or nearly any business) different is good.

Image Is Everything

I wrote earlier this week about my dermatologist who shared his political beliefs. Really? Create a system of self-checks and company image rules for your employees. In a story put out by The Guardian, people (not shockingly) responded differently to foul language as opposed to an abbreviated form, such as, “That really “P’ed” me off” instead of the real thing. Foul-mouthed employees in general always amaze me. Can’t figure out why your customer is stand offish? That’s probably why.

While many training programs stress mirroring your customers, there’s still a line in the sand. Even if your customer uses offensive language you would be better not to join in. It would be a shame to build your business, then implement the right platform, then get your marketing in place and then destroy it all with being offensive. Don’t make the mistake of thinking that all you need it the right equipment to look good. The face of the company sets the tone for it all. A positive attitude is king when it comes to dealing with the public, and according to right.com, if you garner a good positive attitude, whether you are the boss or an employee, the people you work with will also have a more positive attitude.

…and like anything, rather than changing the people around you, it all starts with changing you.

Photo: pingping

Save Money: 4 Items To Buy Online

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Online Purchases
According to the Economic Policy Institute, the average family budget for a two-parent and two-child family runs $48,166 in Marshall County, Mississippi, to $94,676 in New York City. Meanwhile, costs like childcare in Washington D.C. for just one child run $1,318. The institute found even in solid economic conditions, low-wage jobs would not cover basic family needs. Annual wages for a full-time minimum wage worker run $15,080 which makes it difficult, if not impossible, to live in even an inexpensive area.

While you may not be able to control the cost of living in your area or your wages, there are ways you can save money. Shop online for often overlooked necessities like groceries and eyeglasses, and dramatically slash your budget. Here’s a look at items you should always buy online to beat brick and mortar stores at their own game.

Groceries

A weekly grocery bill for an average family of four runs about $200, according to the USDA Center for Nutrition Policy and Promotion. Spending just short of $800 a month just on groceries is a serious budget breaker. Trim your costs by buying groceries online with sites like Amazon or Walmart. Amazon offers a subscription service where you can sign-up to receive orders on everything from paper towels to cereal to arrive at a set date and time of your choosing. Aside from convenience, signing up for a subscription can lower your order costs.

Walmart offers a wide range of products and brands like Betty Crocker and Campbell’s at prices that will beat most competitors. You’ll also get free shipping on orders of $50 or more and save yourself the time and trouble of dragging the kids to the grocery store and unloading when you get home.

Eyeglasses

Shopping for new frames at your eye doctors could cost hundreds of dollars for a designer brand. Even discount eyewear retailers like LensCrafters will usually charge around $100 for glasses. Meanwhile, sites like ZenniOptical.com offer prescription frames starting at just $6.95 for men, women and children. The lower cost means less stress over picking out frames and even keeping a back-up on hand for active kids prone to breaking their eyewear. The downside is returns can be tricky with Zenni only offering 50 percent of the value upon return.

Tires

It can be intimidating to order tires online and know what to do once you hit “buy.” But online retailers can take care of all the logistics for you. Such retailers can connect you with recommended tire shops to install them. Tires are shipped for free and arrive fast so you can get up and running quickly. Online tire outlets are also likely to offer ongoing promotions and discounts to save you even more money than walking into a store.

Electronics

Skip the high pressure from salesmen and order electronics online at a discount. Shop online for electronics from stores like Costco and BJ’s Wholesale. You will need to buy a membership at $55 or more a year just to shop, but the savings can still add up. If you don’t care about name brands, buy the generic house brand instead. Wholesale retailers are also likely to carry Sony TVs next to affordable Vizio flat screens for hundreds of dollars less. Costco in particular is great, their customer service is fantastic and their return policy is first rate.

Cutting the Cord: How and Why You Should Eliminate Cable TV

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Nearly everyone has seen a sci-fi or futuristic movie that shows a dystopian future where television has gone out of control, featuring thousands of channels with nothing worth watching. Unfortunately, that future seems more realistic every day, and with the continuously rising prices of cable and satellite television, many people are choosing to cut the cord and switch to other alternatives. The FCC recently completed a study showing the average basic cable bill is over $64 per month before taxes and surcharges, and that doesn’t include any premium shows or channels at all.

Controller

The most obvious extreme is to stop paying for television all together. Whether you realize it or not, every major city in the country still transmits television over the air at little to no cost to you. Basic channels are still available to anyone with a regular antenna, and for a one time minimal charge, you can pick up an HD or digital antenna to get the local shows in high definition.

If you’re looking for something a little more than what an antenna can provide, the obvious choice is to turn to the Internet. Whether you choose to watch from your computer or have the ability to connect your TV to your computer source, there are a few streaming options that can save you loads of cash every month.

Hulu Plus

This service is great if you’re looking to watch TV shows right when they come out. Most are usually up and running on their website no more than a day after it premiers on cable, and they have a wide variety of both TV shows and movies available for streaming.

Cost: $7.99 per month with a free trial available.

Netflix

If you aren’t worried about watching new releases right when they come out, this is a great option. With a wide variety of complete seasons of television, a huge selection of movies and several critically acclaimed original programs, you can watch whatever you want whenever you want. And, with their focus on cross platform streaming, you can use nearly any device.

Cost: $7.99 per month with free trial available.

Amazon Prime and iTunes

The advantage to these two options is that you can stream shows from your devicesand download movies and episodes to watch even when you might be out of Internet service.

Cost: Amazon Prime is $79 per year with 1 month free trial; iTunes varies per purchase.

Roku Streaming Player

The Roku streaming media player plugs directly into your television and uses your Wi-Fi to connect you directly to Hulu. There are a variety of options ranging from a simple USB Streaming Stick to the new Roku 3, which has Hulu, Netflix, Amazon, HBO Go and others.

Cost: $49–$99 with various free trials.

Apple TV

This product from Apple will essentially turn your TV into a streaming machine without the need for a direct connection to your computer. With access to all the major streaming services, you also can connect directly to your iTunes account, giving you access to purchased songs and streaming from iTunes Radio.

Cost: $99

Ultimately the choice is yours, but with so many options available to you, the decision to cut the cord just makes good financial sense.

Resolutions for 2015: Take Your Inventory Live

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Own a business? It’s your lucky day! Here’s a way to stretch more money out of 2015…..

What hopes do you have for your business in the New Year? Would you like to grow, or add new locations? Getting a grip on your cash flow, inventory, and day-to-day operations is the best step that you can take. By changing to a live inventory system with a POS system you can understand everything that’s happening with your business.

First StepsScreen Shot 2014-10-30 at 8.25.55 AM

New Year’s resolutions are typically easy to make but hard to follow through on, but making a resolution to implement live inventory tracking and point-of-sale system is an easier resolution to keep than you think. Point-of-sale systems are no longer a $20,000 proposition piled with a nightmare web of expensive maintenance contracts and proprietary software. In fact, it is possible to obtain a complete point-of-sale system for around $1500. With the addition of a barcode label and a barcode scanner you’ll have everything you need in order to start taking your inventory live right out of the box. You want to avoid the hazards of assembling a POS bit by bit, which Microsoft points out can cost you a great deal of extra money that you need not spend.

Whatever your reasons for implementing this new system you should know that it is one of the best things you could do for your business. Shrinkage, a perpetual problem in retail and wholesale, can be effectively addressed through inventory control information systems. The Houston Chronicle states that by tying inventory to sales, it is possible to stop or reduce shrinkage that is costing you money every single day. It is estimated that some $13 billion a year is lost to shoplifting alone, that leaves out shrinkage from internal theft, and data entry errors. Getting started is easy:

  • Make a master list of every item in your storefront, stockroom or warehouse. You might want to do these on old-fashioned index cards with information such as SKU/item number, unit of measure, purchase cost, vendor information, and a basic description.
  • Using your barcode label printer (many eCommerce vendors like Shopify offer good printers and scanners) and barcoding software to generate barcodes for any inventory that does not already have them. Typically an SKU or item number will appear along with the barcode from the OEM, you will need to make sure this matches the SKU or item number that you have previously recorded.
  • You will also want to record the location of the items. For example, you may want to denote specific locations where an item is stocked. You may wish to have one barcode for items on the shelf in your stockroom, and a different barcode for items in your storefront. In the case of having more than one storefront you can even designate which store and which stockroom where the item currently resides.
  • Now you’re ready to start the initial inventory. You may want to close down in order to complete this part. It can be very disruptive to business, which is why many stores will close down at the end of the year in order to take their inventory. If you cannot close down set aside a certain amount of goods in a separate inventory to keep the business operational.
  • Make sure you have enough staff and barcode scanners, and bring everyone together to set out the order of march. Assign your personnel to their sections and tackle the job sequentially and systematically.
  • Mark every completed location with a sticker so that it is not counted again, and you may also wish to have the staff member’s initials on each sticker so that you will know who counted each section.
  • Reconcile the inventory against your accounting balances. You may find substantial discrepancies between what you have in your actual inventory and what you have in the books. Take the time to find out what is causing the discrepancies, and then get ready to go live with your new inventory process.

Garbage In, Garbage Out

You get out what you put in. Your new inventory process is only as good as the data that you enter. Especially with an online business….you opened it up to be efficient, so keeping your data as clean as possible by instituting policies with your sales, stock, and management people will keep things moving smoothly. Getting a better grip on your inventory will allow you to streamline your ordering processes, without overextending your cash flow or choking the flow of goods from the vendor to your business to your customer. You will also eliminate what Logistics Management says is one of the key overlooked problems of excess inventory, the expense of maintaining it. Inventory requires storage, square footage, maintenance, and other staff attentions. Excess inventory costs in these areas can over time exceed the value of the actual merchandise. By streamlining your order processes you’ll be able to understand what items are moving, what items are not, and what you really need to mark down and get rid of. While you might not ever completely eliminate clunkers, at least you will know what does and does not work for you.