3 Habits that Help You Prepare for Money Emergencies

No one wants to live paycheck to paycheck. This is such a stressful way to live. It definitely feels like you are hanging on a thin thread all the time. We can never be at peace because we are always questioning our capacity to buy even the most basic necessities such as food.

That is the very reason budgeting and general financial literacy needs to be taught in schools and even at home. Everyone, including youngsters who get allowance from their parents or guardians, need to know how to plan out and regulate their spending.

But, like any other plans, the number one enemy of a well-thought out budgeting scheme is the unforeseen events that we more commonly refer to as emergencies. Good thing that there are habits that you can develop to keep yourself afloat and generally unscathed even if emergencies pop up like mushrooms along your path.

Save

Truth be told, saving money should be the favorite hobby of the modern person. Savings should not just come as an afterthought. Everyone should acknowledge that in order for savings to really have an impact, a savings account must be included in the money plan right from the beginning. It shouldn’t be: “This is all I have left so this is all I will deposit in my savings account.” It should be: “I earn $5,000 dollars a month, and $250 of this automatically goes to savings!” Of course, the amount will vary depending on a person’s expenses, but the point here is clear: save before you start spending. Every person who wants to be financially free in the long run should learn how to live slightly below their income.

Get relevant insurance.

Emergencies like health issues, a car breaking down or being in a car accident are unfortunate events, but ones that we should be able to handle. We should also plan ahead, knowing that these types of emergencies can happen at any time.

Good thing you can get insurance coverage for such unfortunate incidents. For a premium, you will be able to get insurance benefits that will protect your savings through your insurance policy. But getting money you’re owed from insurers can be tricky at times. You should hire a legal professional who can provide reliable help dealing with insurance companies.

Work for fun (and cash!)

If you have time to spare during weekends or after you’re done with the day’s work, you can spend it on something that you love like baking, carpentry, or any other hobby. Aside from these being a form of recreation, they can also be a source of side income. You can definitely sell the cupcakes that you baked or the chairs and small tables that you refinished. Even if they’re sold only to friends, it’s still money that can be used to increase your savings account or save up for something you really want.

Being prepared is simply the best way to overcome anything. Yes, there are emergencies, but at least financially, you can still very much prepare for them. So drop that defeatist attitude and start building good money habits, especially the ones shared here.

Celebrities Who Have Businesses

It’s a well-known fact that some celebrities have dabbled in businesses as a means to secure their future should the glitz and glamour of the showbiz life no longer appeal to them. Some celebrities have surprised us with their business acumen. Kylie Jenner and Oprah are a given, so it would be best not to include them in the list. Here are some celebrities who have dipped their hands in the world of entrepreneurship. Read on and let these celebrities inspire you to start your empire.

Bono

Bono may be known for his iconic glasses and his success with U2, but he is also making a name in the business world. Bono helped co-found the private equity firm Elevation Partners in 2004. The company has been significant in funding several media and technology startups. To date, the company has more than $1 billion USD in value of shares on Facebook. The company has also made significant investments in other tech startups.

George Clooney

It pays to live alongside neighbors who share your passion. George Clooney, together with Rander Gerber (Cindy Crawford’s husband), partnered to bring to the world ther fantastic Casamigos Tequila. The two men met with a master distiller to create a perfect blend to fill 1,000 bottles of their tequila annually. They finally decided to share it with the world and make it their legitimate business in 2013. To date, the tequila has won several awards and was even Oprah’s favorite.

Nasir “Nas” Jones

Nas the rapper may have paused making music for a while, but this does not mean that he is not keeping himself busy. Nas and his QueensBridge Venture Partners (QBVP) have successfully funded several notable startups such as Lyft and Dropbox, with a total valuation of $15.5 billion USD. And it seems that Nas is not stopping anytime soon, as his partner shared with CNBC that their venture capital firm aims to back at least 20 startups each year. Aside from his VC work, Nas also has a successful clothing line, HSTRY.

WiIl Ferrell

Will Ferrell may be a funny guy on screen, but he is serious about his business. And, unsurprisingly, his company is a funny business. Ferrell serves as the founder of Funny or Die. This online site serves as a host of exclusive funny videos of celebrities such as John Hamm, Charlize Theron, and Judd Apatow, among others. The site also accepts user-generated content.

Kevin Costner

Kevin Costner may be famous for his blockbuster film, the Bodyguard, with the late Whitney Houston, but he is also pretty business-minded. Costner is now the owner of Ocean Therapy Solutions, the company he bought from the U.S. government for $24 million USD in 1995. Costner aimed to create a machine that could efficiently separate oil from water.

Gloria Estefan and Emilio Estefan

Gloria Estefan and her husband are not only rock stars in the music industry. The duo has also been quite successful in their business dealings. The couple has several restaurants in Florida. Believe it or not, they also have hotels, which helped liven up the economy of Florida’s South Beach area. They also own a share in Miami Dolphins, currently valued at $2.76 billion USD.

These celebrities have made good decisions at investing their money in other ventures, possibly as a way to prepare for their exit from show business. Part of their success can be attributed to taking care of their employees, especially when it comes to workers’ compensation. These celebrities are perfect examples of how money handling and preparing for the future is an effective way of preventing the plunge into debt

Business Finance Tips To Keep You From Going Bankrupt

One of the main reasons why so many people start their own business is to establish a reliable means of generating income. However, this is much easier said than done. There are many things that could go wrong, whether it’s in a natural disaster that renders your business inoperable, a virus pandemic, or an economic collapse. While these unfortunate events are near-impossible to predict and prevent, you can keep your business from going bankrupt. These are a few ways that you can keep your business afloat in an ever-changing economy.

Discard Non-Essential Expenses

One sure way of ensuring that your business does not become bankrupt is to minimize unnecessary expenses. If it’s an expense that does not contribute to the operationality of your business, you might need to cut down on that expense, or better yet, eliminate that expense. As a general rule, if you want to increase the probability of success for your business, you have to minimize your expenses while maximizing your revenue.

Sell Surplus Business Assets

If you don’t get much use out of it, you might want to sell it. Not only will you help equip other businesses with equipment of their own, but you’d also further bolster your finances so that you’re better able to respond to emergencies in the future. The proceeds from the sale of your unused (or under-utilized) equipment could even help you buy the equipment that you do need.

Prioritize Debt Repayments

If you’re paying off debt, it’s important to prioritize which you pay off first. You have to pay off those which have the highest interest rates first, especially if it’s a secured loan. With unsecured creditors, a safe approach is to treat all of them equally, which entails that you have to pay all of them something.                                  

Review Your Business Plan

Your business plan is the blueprint of what you want your business to be. This is going to form the entire basis for how you want your business to succeed, and it will often help you focus your efforts. It’s also important to review your business plans every now and then so that you’re able to adjust your direction according to the demands of the market. You have to ensure that your business plan reflects the current state of your business so that you’re able to make the necessary adjustments to your plans.

Address Problems ASAP

Ignoring problems will rarely have a desirable outcome. Sometimes, even the mere delay of a solution can damage your business significantly. If there are any problems that would affect your business, you have to address them immediately. A good example is if you’re having difficulty paying your employees or if it’s taking too long to do the accounting, you might want to consider utilizing a ytd pay stub instead to help streamline the process.

Running a business is not an easy venture. You have to be able to manage your resources as well as your teams properly in order to maximize your chances of growth and success. It’s far too easy to crash a business, especially if you lack the experience to manage one properly. May this information aid you well in steering your business on the right path.

Wealthy Celebrities Accused of Sexual Harassment

Women who experienced harassment are now more likely to speak out through social media and news outlets to share their own stories. The downfall of media mogul, Harvey Weinstein, led many women to come out and name other influential celebrities with incidents of sexual harassment. Here are some of the Hollywood men with accusations of sexual assault or harassment:

Ben Affleck

The Batman-actor was accused by MTV host Hilarie Burton of groping her in a 2003 “Total Request Live” appearance. Affleck, upon realizing the consequence of his past action, immediately sent an apology statement. Ironically, he issued his apology a day right after he criticized the behavior of Weinstein towards women.

Chris Brown

Chris Brown’s career is full of controversies and accusations of aggression towards women and domestic violence. He attacked his then-girlfriend, pop superstar Rihanna, in 2009. Brown pleaded guilty to one count of felony assault, and since then several other women emerged with claims of violence against the rapper.

In 2017, Brown’s ex-girlfriend Karrueche Tran received a restraining order grant right after she reported claims of threats and abuse from the With You singer. The following year, one more woman filed a case against him for holding her against her will while a friend raped her at his home in Los Angeles. Adding to Brown’s reputation was his legal trouble for multiple violent altercations and some fights as well.

In January 2019, a woman reported to the police that Brown, a friend of his, and a bodyguard, raped her inside one of Brown’s rooms. She told the police that several other women were also invited to his hotel after meeting him in a nightclub.

Sylvester Stallone

The world-famous actor and director, Sylvester Stallone, is up against a report of sexual assault back in the late 1980s. A police report from that period, refined by the Baltimore Post-Examiner website and the Daily Mail, indicates an unnamed teen, aged 16 then, gave her consent to have sex with Stallone in Las Vegas in 1986. The woman denied this and told the police that she did not consent to group sex when Stallone invited his bodyguard to participate in the deed. The Nevada law states that the age of consent is 16. Stallone’s representative, Michelle Bega, says that the allegation is categorically false and ridiculous.

Morgan Freeman

One of the world’s prominent actor, Morgan Freeman, is an 81-year old Oscar winner faced an accusation of unwanted touching, sexual harassment, and other inappropriate behavior by eight complainants. The CNN investigation published a report stating that a supposed pattern of abuse on women in movie sets and other events. The actor known for his distinctive voice denied the claim, calling the complaints undermining his 80 years of work in the industry. He added that, to his knowledge, he never promoted unsafe work environments for anyone who has ever worked with him.

R Kelly

The famous singer who popularized “Ignition” and “I Believe I Can Fly” also has his fair share of sexual abuse accusations. The R&B singer has been accused of sexual relations with young teens. The allegations on R. Kelly followed for decades, and another set of accusers came about acts of sexual coercion and physical abuse. A Buzzfeed report states that Kelly rented houses in Chicago and Atlanta for groups of women who would carry out sexual favors for him, which, of course, the singer vehemently denied.

Final Thoughts

A lot of the accused denied the accusations of sexual misconduct. But the law enforcement agencies prompted investigations which gave victims a little peace of mind. Sometimes, these people use their power and money to get what they want. Thankfully, the local business Clark, Clark & Noonan, LLC, gives proper representation against sexual crimes.