Everyone has had one of those days when they get home from being out all day and do not feel like taking the time to cook dinner. For many people, this means stopping for takeout on the way home or having food delivered to the house later in the evening. A crockpot or slow cooker is insurance against this type of wasteful spending, as takeout meals generally cost more than three times as much as cooking the items yourself. A crockpot meal can be put together early in the day and will cook your meal for you while you are occupied doing other things. Over the course of a year, a crockpot can save you hundreds of dollars in food costs.
A Programmable Thermostat
A programmable thermostat can save you a significant amount of money in energy costs by raising and lowering the temperature for you automatically. You can set the thermostat to keep the heat or air conditioning off while you are gone at work and to turn them back on shortly before you are scheduled to return home. The amount of your savings will depend on the size of your home, the climate of the area that you live in, and the temperature that the thermostat is set for.
Personal Financial Management Tools
Managing your finances effectively can be made much easier with the acquisition of personal financial management tools. These tools take some of the more tedious financial management tasks, like tracking your spending, creating a multi-category budget, or calculating your current net worth, and streamlines the process so you can see your financial positions at a glance. Some of these financial management tools are free online, like Mint, while others require the purchase of specific software programs. Because these programs can save you a considerable amount of time and money, they are a good tool to have available for everyday use.
Managing a business of any size is a chore unto itself. You have to worry about employee satisfaction and work quality; you need to worry about inventory management, customer relations, and any number of other issues all at once.
Chances are that you probably have a number of different systems and procedures in place to help deal with everything. But having multiple different systems and procedures provides plenty of additional problems. Some of these systems won’t have much flexibility while others might, and you have to deal with learning each separate program and piece of software you use.
While you may use multiple programs to manage your business now, perhaps it is time to look into consolidating your business management systems into one cohesive package. Doing so is not only a great way to avoid forgetting something important, it’s also incredibly helpful to have everything you need to deal with in one place.
Many newer POS systems offer this sort of consolidation, especially the tablet based POS systems like those offered by Shopify. Out of all the important things to keep an eye on in your business, inventory management, customer relations management, and retail accounting are arguably some of the most important.
You can’t really sell anything if you don’t know what you have or how much of it you have. As such, inventory management plays a critical part in keeping your business running smoothly and efficiently. Things can get even more complicated if you don’t hold your entire inventory within your own store. Dealing with a warehouse and warehousing management is another whole can of worms that is nonetheless related to your regular inventory management.
MSU lists three main methods of inventory control; perpetual inventory control, actual counting piece, and looking it over. The second two have high chances of inaccuracies as they both involve employees physically checking over the inventory and counting. Miscounts and other errors can be extremely detrimental to your business. Perpetual inventory control is when a program or system of some sort is implemented to check off the inventory as each transaction is made and merchandise sold. Installing a system like this is best, but can be expensive and annoying as it’s another program to deal with. Unless you switch to a mobile POS that includes inventory management software as part of the bundle. This will make it much easier to keep track of your merchandise as you’ll get updates wherever you are whenever transactions are made. You will also be able to keep an eye on your inventory as you deal with other issues.
Customer Relation Management
Unhappy customers are bad for business. They don’t return to buy more and they might spread less than stellar reviews. So dealing with customer relations is another critical component of running a successful business. If you don’t already have some sort of loyalty or membership program, you should definitely spend some time contemplating the implementation of one. A CRM system that is part of your entire POS and management system will preemptively avoid many headaches that dealing with customers might bring. An effective CRM system will also allow you to automate a number of regulatory compliance issues that normally would have been done manually. Business Bee states that automation like his will allow you to avoid the need to hire a team of compliance analysts to perform regulatory checks, as long as you have adjusted the settings within your CRM system properly. A good system will also be able to help flag potentially risky customers.
Dealing with your business’s finances and accounting needs is the third, but by far not the least, of the processes you need to worry about when running a business. Doing all the finance work by hand is a gigantic task. Chances are you already have some program to help you out. But if the program you’re using isn’t connected to your POS system, checking and double checking the work is a necessity. Catching discrepancies is extremely important. If your POS and finances are connected, then the entire process of dealing with business finances becomes much easier. Software Advice states that good retail accounting software should not only centralize all your businesses accounting data, but it should also provide details on business performance and track inventory, rent, and payroll as well. Having all of these programs and systems consolidated into your POS system will streamline every aspect of your accounting, saving you time, effort, and money.
Prior to the POS systems available today, just about every aspect of running a business required a separate system or program. Dealing with multiple programs is a giant hassle and introduces a large chance of errors and discrepancies sneaking into the books. Using a POS system that combines all of these disparate systems and programs into one package is a fantastic time saver as well as an excellent way to avoid unnecessary mistakes.
Improve Your Credit As Much As Possible
One of the best things to do before you buy a home is to improve your credit as much as possible. Higher credit scores qualify for lower interest rates from lenders, potentially saving you thousands of dollars in interest over the life of the loan. Review your credit report for any incorrect information or negative information that could impact your ability to buy a home. Reduce the amount of your available credit you are using by paying down or paying off any credit card balances you are carrying and paying interest on. Use credit sparingly before purchasing your home and resist applying for additional credit cards or loans as it will negatively impact your credit score.
Create A Categorized List Of Desired Features
Before you head out to start looking at homes, you should already have a list of desired features made that categorizes them in order of importance to your happiness and your planned future. If you are moving to a new home to start a family with a new spouse, then the number of bedrooms and the school district the home is located in may be the most important features for you to look for. If you do not own a car, then access to public transportation and proximity to necessary services may be features that you will focus on. Having a list prepared will shorten your search and increase your chances of buying a home that is right for you both now and in the future.
Finding the home of your dreams only to find out that you cannot qualify for a loan big enough to buy it is one of the worst feelings in the world. To avoid this disappointment, it is better to get preapproved for a loan through your desired lender. Going this route will let you know exactly how much home you can afford and you can begin your search with homes that you know are within an affordable price range.
It can be difficult to pick out the college you want to attend, especially if you have been accepted at more than one institution. There are so many factors to think about: finances, professors, classes offered, location, and school culture. Individual acceptance letters can make the decision process much easier, but only if you can decipher them. While no two acceptance letters are just the same, each school will organize them with at least a few common features. We will identify and explain each of these in the infographic below from Citizens Bank. When you understand all of the information gleaned from your acceptance letters, the choice of what college you want to go to may not be so difficult after all.