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The post 12 Simple Personal Finance Tips first appeared on Atlas Financial Services.

(1.) THE SAVER:

Someone who has the mental discipline to save has the compacity to grow wealth. The saver asks the right questions during the initial purchase. Another saver typically raises the saver to practice self-control and the ability to reason when purchasing items.  

• Would I use this every day? 
• If I had the money, would I buy this five times over again?
• Is it an asset or a liability? 
• Is it a necessity or luxury? 
• Do I need this right now, or can it wait? 
• Am I buying this to impress people I don’t know?
• Can I afford it? 
• What bills do I have for the next three months? 

 The list of questions that an excellent saver has is way longer than this. Most of the time, a saver will tell themselves, this purchase will set me back from my primary goal, and I don’t need this item right now. Most people today do not have “The Saver Mentality.” 

(2.) THE PLANNER:

The planner is someone who sticks to their plan. If the purchase isn’t a part of the plan, that purchase is not going to happen. These are the people you never see because they have planned ten years in the future where they are going to eat for dinner, so you’d better get on their calendar sometime this year. Another planner typically raises the planner. The planner has many friends because they love to plan events. Most of the time, anyone who is helping the planner plan dislikes the entire process. 

The Typical Planner List: (In this scenario, “the planner” is a single person making $36,000/year without a college degree, with an A to B car, no children, or debt.)

The mentality of a planner:

• My kids will afford college, or I don’t want kids. 
• I will have a lovely home for my family.
• I will visit another country at least once, if not hundreds of times in my life.  
• I will learn to play an instrument.
• I will learn how to cook. 
• I will learn how to maintain my car.
• I will know to be resourceful. 
• I will marry any of these mentalities if they stick with my plan or compromise with a budget. 

(3.) THE INVESTOR:

When it comes to investing, there is a lot of thinking and analysis. An investor is someone who understands what it means to make your money work for you. New investors need to look for new avenues constantly to achieve their financial goals. If they ever reach their financial goals, new avenues begin to find them. Right now, there is a ton of hype circling NFT’s, and just like stocks, your investment rests on probability. The investor is very good at analyzing businesses and NFT’s and knowing the probability of the value. Investors read all the financial books you can think of; they also like to play chess, but they know gambling is a stretch. They only tend to gamble when the probability of them winning is higher than 97%. 

The investor does not need to be someone the solely invests in stocks and NFT’s. Investors could be someone who has a skill in the trade, chips in on a home for sale, flip it, and makes a return on investment. 

The mentality of an investor:

• They read all of the time, financial books, and wall street.
• They like to play chess sometimes, only when they know they are going to win.
• They prefer not to gamble unless they know they will win.
• They are good with numbers. 
• They like to marry planners, savers, and spenders.
• They enjoy playing golf and going out on boats.
• They enjoy going to basketball games.
• They tend to dress and smell nice. 
• Some have big dreams but blame the failures on college debt. 

(4.) THE WORKER:

The worker is a blue-collar who works with his hands. This person knows how much he is worth. In this day and age, trade workers are at an all-time low, which increases their value tremendously. This person can be an electrician, HVAC, construction worker, plumber, and home flipper. Most of them are not very good with their money, but they would be rich if they were. Since they work with their hands, they tend to be more outdoorsy. 

Outdoorsy people sound cheap, but it’s the opposite if you talk about 4-wheeling, hiking gear, kayaking, home gyms, and all the other stuff I failed to mention. The most important thing to mention is they tend to make babies and raise families, and their investment is seeing their families smile. You may be thinking this blog is supposed to be about the mentalities that grow wealth, not what drains it! When you are a man or woman with tons of kids, there is no better wealth than the love and appreciation you get for providing for your family. 

Like the planner, this person can plan, but they do not plan by month; they plan by the job. They know that each job they do is a couple hundred or thousand dollars, and the more jobs, the more money. They will plan for relatively immediate goals, but overall, these people will no doubt own their own homes unless they need to overcome some deep-seated lousy spending habits. Once they overcome the obstacles of overindulging or impulse buying, they will be in good hands. 

The mentality of the worker:

• A happy family is my wealth.
• I will work five jobs and buy a car with cash.
• I will marry a planner or saver to compensate for my bad spending habits. 
• I will never go broke as long as my body stays healthy. 

(5.) THE TECH-SAVVY:

Tech-savvy people will find several ways to produce income by content alone. Content is a tech-savvy person’s bread a butter. A tech-savvy mentality is someone who thinks, “I can make money online; I need to put in the work and develop the skills.” When they put in the work, they are becoming entrepreneurs in every sense of the word. Tech-savvy people know how to work online, whether web development, marketing, sales, and eCommerce. 

Tech-savvy people want to live as comfortably as possible, especially software developers. They will learn how to make anyone happy that is having any technical issues. They will be the family IT support help desk. When their mom has a problem with their online meeting, have no fear IT support is here. When their dad needs to zoom in to read a text, their dad will be amazed at their abilities. Their specialty is debugging and finding solutions. Their daily tools are their fingers unless they need to do some wiring. 

The mentality of a tech-savvy person:

• I can produce valuable content.
• As long as I make good content, I will achieve big goals. 
• I will try to crypto mine at least once in my life.  
• I see value in creating software that increases productivity. 
• As long as there is technology, I can make money.
• I can follow anyone’s plan, as long as there is productivity. 
• I can marry any mentality as long as they understand working at a computer is still working. 

If you are someone that wants to blog about health, finances, or lifestyle contact us today! We will make you a guest blogger on our site!

• Client Portal – New Features
• 12 Simple Personal Finance Tips
• 5 Mentalities That Grow Wealth
• 5 Healthy Habits That Will Change Your Life
• Atlas Financial Services COVID-19 Update

The post 5 Mentalities That Grow Wealth first appeared on Atlas Financial Services.

Five Health Habits That Will Change Your Life

1. Drink Plenty Of Water:

It is essential to increase fluids intake, thereby increasing fiber content in your diet. Drinking plenty of water and remaining hydrated helps in actually maintaining your overall digestive health. Furthermore, it helps in aiding your digestive tract, but it can also help boost your metabolism, helping you feel more energized over time. Moreover, taking a glass of water in the morning can help eliminate different types of body toxins stored overnight.

Check out more benefits of drinking water! Click Here

2. Eating Healthy:

There is a lot to be said when it comes to healthy eating. Healthy eating helps in providing more brainpower, more energy, a better mindset, and better sleep. Moreover, adding fiber to your diet helps in avoiding constipation and improves overall bowel function. Fiber is usually found in cereal products, whole-grain bread, vegetables, fruits, legumes, seeds, and nuts. Moreover, aim to eat at least two servings of fruit, five servings of cereals and bread, and another five servings of vegetables every day. Remember that you are what you eat, and eating well can make a lot of difference to what you feel and how your overall body operates.

Check out more benefits of Eating Healthy! Click Here

3. Staying Active: 

Remember physical activity is very much beneficial for your overall health, including your bowel and bladder function. Try aiming for at least thirty minutes of physical activity every day. Different activities like cleaning, gardening, playing with kids, and taking up the stairs all add up. No matter how big or small, trying to make a move in a particular direction can help make a big difference. 

Check out more benefits of Eating Healthy! Click Here

4. Read a Book:

The benefits of reading a book every day are excellent. Studies have shown that reading increases brain connectivity, improves your vocabulary and comprehension, lowers blood pressure and stress, fights depression symptoms, and may very well increase how many years you live! 

Check out more benefits of Reading! Click Here

5. Get More Sleep:

If you think that getting more sleep is impossible, then remember it is just a habit like anything else. A good night’s sleep is just as important as a healthy diet and regular exercise. Several research studies have shown that poor sleep has different adverse effects on exercise performance, hormones, and even brain function. It can also cause weight gain and increase the risk of disease in both children and adults. If you have plans to lose weight or optimize your health, remember getting a good and healthy night’s sleep is one of the most important things you can do. 

Check out more benefits of Sleep! Click Here

Do not waste a single moment. Adopt these simple health habits mentioned above and feel the difference yourself.

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• Atlas Financial Services COVID-19 Update

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The post 5 Healthy Habits That Will Change Your Life first appeared on Atlas Financial Services.

COVID-19 has created a sudden halt in the economy. We hope that your business and staff are staying safe in the current environment. Atlas Financial Services temporarily laid off a percentage of our staff, and another portion of our staff are working from home following the stay at home order from our Government.

We are operating under the guidelines of our national organization, ACA International, which has recommended ceasing aggressive collection activity until the virus is under control, and the Governor has lifted the stay at home order.

In times like these, it is essential to focus on what we can do. These are the things that Atlas Financial Services can do to help our Clients, Customers, and our Employees:

We are:

1. Available to answer customer questions about payments and accounts. We know that consumer confidence is important in maintaining relationships with customers. We have staff available to answer any question and help resolve problems for customers so they can continue to accomplish their credit goals.

2. Available to modify payment arrangements to assist consumers that have been laid off. We remain understanding and empathetic to consumer needs during this time and are working hard to be flexible with customers regarding the repayment of their debts.

3. Available to clients to answer questions regarding accounts and payments. We are here for you and encourage you to contact us if you have any questions at all about your placements or what our status is as we move through this pandemic.

4. Entering new business and sending out validation notices. We are available and will remain current on entering new accounts, sending letters, and processing any updates as you may have them.

5. Processing payments and reports as we have done in the past. We continue to generate reports include Trust remittances, and you will continue to see those reports be delivered, just as you have come to expect.

6. Continuing to treat consumers with dignity, respect, and with the utmost compassion during this challenging time for all of us. Our staff is qualified and has been training to assist customers through hardships. We are modifying arrangements when requested and doing as much as possible to assist consumers in working through financial issues during this crisis.

Courts are still processing litigation requests. We have temporarily stopped filing new claims to ease this burden for consumers. We continue to do the preparation work, so when the stay at home order is lifted, we will be able to hit the ground running. We have also suspended bank garnishments until the stay at home order is lifted to not add additional stress to consumers that may have lost their employment.

Please feel free to contact our office if you have any questions.

Be well and be safe,

Atlas Financial Services

The post Atlas Financial Services COVID-19 Update first appeared on Atlas Financial Services.

That is until yesterday. Finally tired of compulsively performing budget gymnastics multiple times a day and then triple-checking it multiple times a week, I started looking into mobile budgeting applications on my iPhone. Below are the top three I ended up deciding between.

Unsplurge

Contrary to its name, Unsplurge is all about setting a big-splurge goal and reaching it. Unlike most (possibly all) other budgeting applications, this app allows you to make notes for yourself, post updates to your Facebook feed, and interact with your fellow-savers through the app itself – savers who are eager to share their own personal tips and tricks to healthy budgeting.

Unsplurge is currently available only on iOS devices running iOS 7 or better.

Wally

Short, sweet, and to the point, Wally is a colorful and user-friendly personal financing application. Similar to Unsplurge, Wally allows you to set and track goals, log spending, and keep up with upcoming expenses. Unlike Unsplurge, Wally features the ability to log spending by taking pictures of your receipts with the app, making it easier to track your cash spending, as well. You can also save pictures from the app to your phone – keep ‘em handy for tax season!

Wally is available for both iOS and Android devices. Android users have access to the enhanced Wally+ version.

Mint

Mint, Intuit’s budgeting and finance application, is a beastly program. From the mobile app itself, you can sync your various recurring billing accounts (such as credit cards, utilities, car payments, etc.) and pay them right from within the app itself, set up spending limits for various amenities such as clothes and entertainment, even receive a free credit score.

I was pleasantly surprised to find that my credit score falls in the “good” range.

Unlike Wally and Unsplurge, Mint has an online component which expands on the mobile app – this is where you can set goals and track investments, in addition to performing all other finance-related tasks in a clean and clutter-free user interface.

Mint’s mobile app is available on both iOS and Android.

The icing on the cake for each of these apps? They’re entirely free. There are paid budget apps, but how would buying an app make any financial sense when there are such incredible free options?

I ultimately chose Mint for its versatility and overall functionality, but if you need a simpler experience or don’t have so many different things to track, Unsplurge and Wally will be equally useful to you.

The post Best Mobile Budgeting Apps first appeared on Atlas Financial Services.

There’s No Place Like Home … To Brew Your Coffee

I know a slew of people who throw fits if they don’t get their daily $6 drink from Starbucks. Well, I’d throw a fit if I was spending that much money on coffee. Why would I throw a fit? Because I’d be so far bankrupt I’d be writing this on a pad of paper under a lean-to outside Portland Chinatown. But while these people lecture me on Facebook about things like privilege (from their $2,000 MacBooks), I’ll be at home with my dog and my roommate, sipping coffee that I brewed from an $8 can of Folgers which will last me at least two months, quite content by not spending more than $1,500-a-year on Starbucks.

Fuel Economy

Here’s the thing about the different octanes at the gas station – most cars are designed to run on 87-octane. If you have an engine that runs 87 and you buy 89 or 92, you’re spending more money than you have to. I just learned this last month, so don’t feel bad.

With that said, if you can reach your destination without driving, then either bike it (looking at you, Portlanders, I know how much you’re into biking) or walk it. You’ll save gas money and you’ll work that fitness while you’re at it. Win-win.

The Buddy System

We’ve all seen the statistics by now that say things like “one person making X amount can’t afford a two-bedroom apartment.” Sooo … find a roommate. Why do you need a two-bedroom place if you’re one person?

Having a roommate will cut living costs, for the most part, in half, saving you several hundred dollars per month. And if you live with someone you know and are friends with (strongly recommended) it just makes life more fun.

And while you’re thinking about ways to save money, check out this list of budgeting and finance apps I wrote recently. They make tracking your spending, bills, and saving so much easier.

The post Essential Budgeting Tips for Millennials first appeared on Atlas Financial Services.

Stop Borrowing Money

You probably read that and thought, “Well, yeah.” I know. But I had to come to this realization on my own, and it’s not fun. I kept thinking things like, “If I can just get this little bit more,” or, “I still have some space left on my credit card, I can afford this.” And then I ran out of space on my credit card. I ran out of people to borrow money from. And then I was faced with the crushing realization of just how messed up my life was.

Please stop borrowing money. The sooner you buckle down, then sooner you can start moving forward.

Take Your Budget Personally

I don’t want to say that it’s “easy” to pay the minimum on your loan or bill every month, because it’s not – none of this is easy. But it is easy to lapse into the bare-minimum mindset when you’re down. You might feel tired or lethargic, and the “every little bit helps” mentality can devolve into one that says a little bit at a time is enough. It’s not enough.

Think about it this way: being deep in debt is often referred to as “drowning.” When you’re drowning, all you want to do is stay afloat. But staying afloat as a means of survival requires the least amount of effort. Will you make it back to shore if you just float? Maybe. If the tide is going in. But the tide isn’t in your control, and it could just as easily pull you further out to see and further underwater. The only way to safely reach shore is to swim as hard as you can.

So when you’re budgeting, don’t aim to set aside the minimum payment each month. Pick a time in the future that you want to be out of debt by – that’s your shoreline. Figure out how much you need to save each month, and then do everything you can to reach that goal.

Every Little Bit Does, in Fact, Help

I know I just said that this could lead to bad things, but I recently watched Marvel’s Doctor Strange and so many of that movie’s problems would have been solved if the warnings had been on the pages before the super dangerous spells, so I did that for you. I put the warning first. You’re welcome.

The fact of the matter is that every little bit of extra money you can put towards paying off your debt helps. Whether this means working extra hours, picking up a second job, performing odd tasks around such as mowing lawns in the summer or shoveling snow in the winter, or selling things from around your house that you no longer need, each extra dollar you can scrape together will help you become financially solvent again.

Exercise

I know, this has nothing to do with money directly. But exercising, especially if you work a job that forces you to sit for hours on end, is essential to your quality of life. For example, I have been running regularly at my old high school’s track, I take my dog for a two-mile walk almost every day, and I have started lifting weights again. My focus, self-confidence, and energy have all increased dramatically, and for the first time in a long time, I feel like the life I want is finally within reach.

Self-Advocate

You work hard, you deserve to be paid accordingly. That’s the beauty of the free-market. And if your current employer will not give you a raise, you can re-evaluate how much you feel your time and energy are worth and you can look for jobs and employers who will appreciate it. The more you take your financial well-being into your own hands, the more opportunities will present themselves to you.

Always Remember

The last and most important advice I can offer is to keep your goal somewhere that you can see it every day. A note, the wallpaper on your phone or computer, anything that you know you’ll see multiple times every day. It might not be much, but always remember what your shoreline looks like. Just keep swimming.

The post Honest Tips for Overcoming Debt Fast first appeared on Atlas Financial Services.

The Best Offense Is a Good Defense

Before you work with any client, make sure you have a payment policy in place and that the client agrees to it. Be direct about billing cycles, payment types accepted, and time the client has to pay after an invoice is sent. Thirty days is a good standard. Try using online invoicing and billing services, like Freshbooks or Sighted. These will make it easy to create and send invoices fast and have all your records in one place.

Document, Document, Document

Make sure you document your attempts to collect payment. Maintain good records on dates invoices were sent, any phone calls you’ve had with the client regarding their payment, and copies of emails or hard copies of letters you’ve sent. Sometimes it’s as simple as the client has a new credit card and just forgot to update you with their new information, so a simple overdue notice will suffice. When your client still doesn’t pay what they owe despite an overdue notice, you may decide to end your business relationship with the nonpaying client.

Plan for a Clean Break

It’s not easy to end a business relationship with a client. Your client may rely on your work to keep their business afloat. They may be facing some personal financial crisis and project their stress onto you. Either way, when terminating a business relationship with a nonpaying client, it’s important that you make the break clean and remain professional in your communication.

Before you make the call to fire your client, prepare a respectful yet firm email indicating that you are no longer able to work with the client due to nonpayment. Attach an account statement showing past payments, overdue invoices, and total owed. DON’T SEND IT YET. Save it as a draft, then call your client or, if they are a major client or owe a large sum, schedule an in-person meeting. Tell them out loud that you have to stop working with them and let them know what to expect from you going forward. After your phone call, send the email for documentation. Make sure to add the text “Per our discussion today…” along with important details in the conversation.

What Not to Do When Firing a Client

Don’t breach any contract you have with the client and don’t owe work that the client has paid for. Don’t be deceptive, unethical, or misleading in your communication. Don’t assume it’s more convenient to write them off than it is to collect what is owed to you.

How to Collect the Money Your Client Owes You

Last but definitely not least, you’ll need to collect that debt. You did the work, supplied the goods, and met your end of the agreement, after all. While some people try filing in small claims court, the paperwork and red tape headache (not to mention the hours and hours of time required to do it right) are too much. Working with a collection agency is a convenient way to collect client debt owed, even after terminating your business relationship with a nonpaying client. A collection agency takes care of all the paperwork and phone calls to collect for you so you can focus on those wonderful clients who appreciate and pay for your work.

Once you’ve decided to fire a client for not paying you, you can still collect debt owed and keep your business running smoothly by ending your business relationship with the client and avoiding stress by working with a collection agency like Atlas Financial Services.

The post How to Collect Funds From a Nonpaying Client first appeared on Atlas Financial Services.

An Ounce of Prevention Is Worth a Pound of Cure

This applies to loan repayment just as much as it does your health. The best way to ensure that you continue to make loan payments on time is to budget for them. Calculate your monthly expenses compared to income, set limits for each type of expense (housing, food, utilities, entertainment, transportation, and more) and abide by the limits you set. Making sure your student loan payment is included in that budget each month is essential in making it to the end of your repayment term on time.

Set Up Automatic Payments with Your Lender

Some lenders offer a small reduction in fees when payments are made automatically each month. Automation, of course, comes with the added bonus of not having to worry about forgetting to make a payment. Your lender will withdraw the funds from the bank account of your choice each month for you!

Make Bi-Weekly Payments

When setting up automatic payments with your loan provider, find out if they offer automatic payments to be withdrawn every two weeks instead of once per month. If you simply divide your total monthly payment amount in half and have this paid automatically every two weeks, you will make a total of 26 payments each year instead of 12, and the total paid will add up to one extra month’s payment per year. It may not feel like much, but when spread over a handful of years of your loan repayment term, it adds up fast. This is especially convenient for workers who are paid bi-weekly and may not feel a sting to their established budget as much.

Pass on Those Gifts

Did you get a bonus at work? A generous relative sent you a check for your birthday? Maybe you even won a little unexpected money in the office lotto pool! No matter the source, if you have the luck of receiving some surprise funds, resist the temptation to splurge. You can still treat yourself a bit, but try to apply a percentage as an extra repayment to your student loan. Fifty percent is a good rule to hold yourself accountable to, especially if the funds were completely unanticipated in your budgeting.

Consider Public Service

Find out if you are eligible for the Public Service Loan Forgiveness Program (PSLF). This federal program, designed to encourage American college graduates to work in the public sector, allows forgiveness of the remainder of a student loan after performing a required number of years of public service. The requirements for the program are strict, so make sure you can maintain them before you change employers or other big life decisions long-term.

No one enjoys carrying debt, particularly when the debt is for something as essential as your education. Being mindful of tools and strategies for reducing your loan term can make repaying student loans a little easier while also instilling lifelong good financial habits.

The post 5 Tips for Paying Off Student Loans Faster first appeared on Atlas Financial Services.