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Be careful with how you go about your budget

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Image source: thebalance.com The most common reason millions of Americans are knee-deep in debt is because of their tendency to overspend. A lot of people seem to know very little about the limitations of their budget. To address that, here’s a quick guide on how to keep yourself in check. Track your expenses Keep a ledger at home and be diligent enough to enter your expenses at the end of the day. It won’t take 10 minutes of your time. This way, you won’t be confused as to where your money goes, and you’ll have a better sense of how to adjust by cutting some things you don’t need. Focus on yourself Another common reason why people spend beyond their means is that they focus too much on what others have. Whether it’s family or friends, or even strangers, when people see others buying or doing things they’d want to do, they tend to spend unreasonably out of their budget. Focusing on their own savings and income will help them stay in line. Image source: theba...
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Getting married: Here are a few things to consider when it comes to finances

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Image source: huffingtonpost.com Every year, thousands of people tie the knot. And every year, thousands of couples separate and eventually go through a divorce because of money problems. Steve Sorensen embezzlement. While so many well-meaning people mention that money should be the least of a married couple’s concerns, it is indeed the opposite. A couple’s finances have to be well planned out even before they get married. Here is a quick review of financial tips for people planning to take that next step in their relationship. Steve Sorensen embezzlement . Take the time to talk about finances. When planning for a wedding, couples should have several important discussions about several important things in their lives that both parties should be aware of. One of these things is money. If both people can come up with lists of what they own and owe, that could go a long way in the planning. Steve Sorensen embezzlement . Decide who pays what. Armed with the knowledg...
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Cryptocurrency and what lies ahead for banking and finance

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My name is Steve Sorensen, CPA. While being an accountant is my job, my passion lies with helping people with their finances by giving advice and discussing about the latest banking and financial trends. Image source: ethnews.com Today, I want to put the spotlight on one of the most popular (some would say infamous) financial and technological trends in recent times – cryptocurrency. The favored son of blockchain technology, no other technological breakthrough has held as much promise and controversy as cryptocurrency. The main issue for traditionalists is quite obvious – cryptocurrency does away with banks. This brings me to the second Steve Sorensen point – how has cryptocurrency affected global banking as a whole? Theoretically, fractional-reserve banking will shoulder most of the brunt of the changes brought about cryptocurrency. Financial experts foresee a shift to the overall number of credits given, which may threaten the stability of banking as a whole. Howe...
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